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STOCK COMPARISON

Air Products and Chemicals vs Linde plc Ordinary Shares: Fair Value & Quality

Both stocks run through our valuation models. Here is how Air Products and Chemicals (APD) and Linde plc Ordinary Shares (LIN) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Air Products and Chemicals as the less overvalued of the two: Air Products and Chemicals trades at $304 versus a fair value of $244 (-20%), while Linde plc Ordinary Shares trades at $482 versus $222 (-54%).
Air Products and Chemicals
APD · USD · Materials
-20%
upside to fair value
overvalued
Price$304
Fair Value$244
Quality38/100
Linde plc Ordinary Shares
LIN · USD · Materials
-54%
upside to fair value
overvalued
Price$482
Fair Value$222
Quality70/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Air Products and ChemicalsLinde plc Ordinary Shares
Valuation
31.6×P/E (TTM)32.4×
5.35×P/S (TTM)6.95×
4.44×P/B6.30×
21.1×EV/EBITDA18.9×
2.24×PEG2.18×
−19.7%Fair value upside−54.0%
2.4%Dividend yield1.3%
$7.18Dividend per share$6.10
Profitability
24%Operating margin28%
—EBIT margin trend (5Y)1.84×
12%Return on equity18%
4%Return on assets7%
Growth
9%Revenue growth (YoY)8%
-1.8%Avg. growth/yr (3Y)0.6%
6.3%Avg. growth/yr (5Y)4.5%
—Value creation/yr+24.2%
Balance & size
—Interest coverage (EBIT/interest)42.1×
1.13×Debt / equity0.54×
$67BMarket cap$241B
expensiveGrowth qualityhealthy

Linde plc Ordinary Shares leads: 6 to 7 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Air Products and Chemicalsof which business quality 35 · market factors 62 Linde plc Ordinary Sharesof which business quality 66 · market factors 56
ProfitabilityMargins and returns on capital today
11
51
Quality GrowthAre margins and returns improving?
20
51
CashflowEarnings quality: real cash, not paper profit
31
64
Fin. StrengthBalance sheet, leverage, solvency risk
45
69
InvestmentDisciplined investing over empire-building
35
70
Low VolatilityCalm price path (market factor)
78
87
MomentumPrice trend over the last 3–12 months (market factor)
50
40
52W MomentumDistance to the 52-week high (market factor)
65
48
Net IssuanceBuybacks instead of dilution
81
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyAir Products and ChemicalsPrice $304Linde plc Ordinary SharesPrice $482
DCF Modelsn/a-56%below the price$211
Earnings-Basedn/a-73%below the price$132
Dividend Discount-65%below the price$106-76%below the price$116
Multiplesn/a-50%below the price$239
Asset-Based-85%below the price$45.21-89%below the price$55.42
Growth DCFn/a-68%below the price$155
Economic Profitn/a-68%below the price$156
Growth Earningsn/a-58%below the price$204
Minimum-85%below the price$45.21-89%below the price$55.42
Maximum-65%below the price$106-50%below the price$239
Median-75%below the price$75.67-68%below the price$156
Geometric mean-77%below the price$69.27-70%below the price$146

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Air Products and Chemicals: 3 of 3 models see the stock below the current price.

Linde plc Ordinary Shares: 26 of 26 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Air Products and Chemicals
Bear $135Fair Value $244Bull $390
$304 = current price (white tick)
Linde plc Ordinary Shares
Bear $121Fair Value $222Bull $291
$482 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Air Products and Chemicals · Materials

Quality score38 · bottom 25%
Fair value upside-20% · above median

Linde plc Ordinary Shares · Materials

Quality score70 · Top 25%
Fair value upside-54% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Air Products and Chemicals as the less overvalued of the two: Air Products and Chemicals trades at $304 versus a fair value of $244 (-20%), while Linde plc Ordinary Shares trades at $482 versus $222 (-54%).

Linde plc Ordinary Shares has the higher quality score (70/100).

See the full analysis →
Air Products and Chemicals · Linde plc Ordinary Shares

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.