LIN vs PPG
Linde PLC and PPG Industries Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | LIN | PPG |
|---|---|---|
| Revenue | $34.0B | $15.9B |
| Net income | $6.9B | $1.6B |
| Gross margin | 48.8% | 41.3% |
| Net margin | 20.8% | 10.0% |
| Return on equity | 18.1% | 21.4% |
| Diluted EPS | $14.61 | $6.94 |
| Dividend / share | $6.00 | $2.78 |
| Payout ratio | 40.8% | 39.8% |
| Free cash flow | $5.1B | $1.2B |
| Equity | $38.2B | $7.9B |
| Net debt / equity | 0.46× | 0.65× |
| Current ratio | 0.88× | 1.62× |
| Revenue CAGR 5y | 4.5% | 2.8% |
| Profit CAGR 5y | 22.5% | 8.3% |
LIN bills 2.1× the revenue of PPG, and keeps more of each dollar of revenue as profit (20.8% against 10.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | LIN | PPG |
|---|---|---|
| FY2025 | $34.0B | $15.9B |
| FY2024 | $33.0B | $15.8B |
| FY2023 | $32.9B | $16.2B |
| FY2022 | $33.4B | $15.6B |
| FY2021 | $30.8B | $16.8B |
| FY2020 | $27.2B | $13.8B |
| FY2019 | $28.2B | $15.1B |
| FY2018 | $14.8B | $15.4B |
| FY2017 | $11.4B | $14.7B |
| FY2016 | $10.5B | $14.3B |
Bottom line
| Fiscal year | LIN | PPG |
|---|---|---|
| FY2025 | $6.9B | $1.6B |
| FY2024 | $6.6B | $1.1B |
| FY2023 | $6.2B | $1.3B |
| FY2022 | $4.1B | $1.0B |
| FY2021 | $3.8B | $1.4B |
| FY2020 | $2.5B | $1.1B |
| FY2019 | $2.3B | $1.2B |
| FY2018 | $4.4B | $1.3B |
| FY2017 | $1.2B | $1.6B |
| FY2016 | $1.5B | $873.0M |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$18,111,000,000 | LIN |
| FY2024 | +$17,160,000,000 | LIN |
| FY2023 | +$16,612,000,000 | LIN |
| FY2022 | +$17,750,000,000 | LIN |
| FY2021 | +$13,991,000,000 | LIN |
| FY2020 | +$13,409,000,000 | LIN |
| FY2019 | +$13,082,000,000 | LIN |
| FY2018 | −$538,000,000 | PPG |
| FY2017 | −$3,390,000,000 | PPG |
| FY2016 | −$3,736,000,000 | PPG |
The higher-revenue side has changed between LIN and PPG over this period. The gap has widened since the earliest year compared.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +10.7 pp | LIN |
| FY2024 | +13.2 pp | LIN |
| FY2023 | +11.2 pp | LIN |
| FY2022 | +6.1 pp | LIN |
| FY2021 | +4.2 pp | LIN |
| FY2020 | +1.9 pp | LIN |
| FY2019 | +0.0 pp | LIN |
| FY2018 | +20.8 pp | LIN |
| FY2017 | +0.5 pp | LIN |
| FY2016 | +8.3 pp | LIN |
LIN has kept the higher net margin in every one of these 10 fiscal years.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LIN's net margin has been more volatile than PPG's over the 10 comparable fiscal years — 6.2 percentage points of standard deviation against 1.4.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
LIN led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LIN's return on equity has been more volatile than PPG's over the 10 comparable fiscal years — 7.0 percentage points of standard deviation against 4.8.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between LIN and PPG over these 10 fiscal years — LIN led in 2 and PPG in 8.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.