- Filed
- Feb 25, 2026
- Period
- FY2025
- Fiscal year end
- 12/31
- Filings
- 1
10-K · latest 10
What Linde's 10-K filings say
- SEC EDGAR
10-K · FY2025
Filed · Fiscal year ends 12/31 · 12 signals
Company pivots to clean energy with low-carbon and renewable hydrogen products
Linde is heavily investing in its technology portfolio for low-carbon (blue) and renewable (green) hydrogen to support the global energy transition.
hydrogenlow-carbon hydrogenrenewable hydrogenelectrolysis
Linde reports $5.26B in capital expenditures for 2025, funding new project start-ups.
The 5% increase in depreciation expense confirms this investment cycle is bringing new assets online.
$5.3B
Capital expenditures in 2025
Linde generates 64% of its $34B in sales from international markets
With a majority of revenue ($21.7B) coming from outside the US, Linde faces significant complexity in managing global operations, supply chains, and regulatory compliance across diverse regions.
$34B
total 2025 sales
64%
portion of 2025 sales outside of the United States
Linde offsetting base volume declines with new project start-ups
The company is successfully counteracting declining base business volumes by launching new projects.
Productivity initiatives are a key driver of Linde's 4% adjusted operating profit growth.
Management explicitly credits savings from productivity initiatives and cost reduction programs for offsetting inflation and boosting profits.
4%
Adjusted operating profit growth
The company is positioning itself as a leader in clean energy by developing technologies for low-carbon (blue) and renewable (green) hydrogen.
hydrogencarbon captureelectrolysis
Battling significant cost inflation across cost of sales and SG&A
Cost inflation is explicitly cited as a primary headwind impacting both cost of sales and SG&A, forcing the company to rely on price increases and productivity initiatives to maintain profitability.
$246M
Increase in cost of sales driven by inflation
Driving productivity and digital initiatives to offset inflation and improve efficiency
Linde repeatedly highlights 'productivity initiatives' and 'digital services' as critical strategies to counteract cost inflation, improve plant performance, and support a 4% increase in adjusted operating profit.
4%
Increase in adjusted operating profit supported by productivity initiatives
automation
Recent acquisitions increased 2025 sales by 1% in APAC and Americas
Linde is actively acquiring companies, which contributed to a 1% sales increase but also drove up SG&A costs.
1%
sales increase from acquisitions in 2025
Linde faces margin pressure as cost inflation increased Cost of Sales by $246M in 2025.
Despite productivity gains, rising inflation is a key challenge explicitly cited for increasing both Cost of Sales and SG&A expenses.
$246M
Increase in cost of sales due to inflation
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-H "Content-Type: application/json" \
-d '{"domain":"linde.com","signal_types":["sec-10k"],"limit":20}'Same industry
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Questions about Linde 10-K
When did Linde file its latest 10-K?
What does Linde's latest 10-K say about product launch?
Where can I find Linde's annual report?
Source. Annual reports (Form 10-K) filed with the SEC. Every card links to the filing on EDGAR.
Method. Insights are extracted from the filing text and grouped by category. Numbers are quoted from the filing.
Data as of .