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LIN · CIK 0001707925 · FY2025 live · 2025-12-31

LINDE PLC

DistressSEC 10-KClassic ZMaterials38th percentile in Materials · 260 names

View as

Model

Classic Z

FY2025

1.46

Zone

Distress

vs FY2024

−0.07

Market DD

—

1y PD

—

Meridian Rank

56.20

0–100 · Classic Z tape · not a PD

  • Book standing

    54

  • Year change

    39

  • Market PD

    —

  • O-score

    85

Events on this name

Same published rows as Today. Not a live recompute.

  • MARKET PD UNAVAILABLE

    watch · 45

    • mertonPd: — → —

1.46

Z″ 2.03

−21.83.08+

Score 1.46 · distress below 1.80, grey to 2.99, safe at 3.00 and above.

FY2016Annual 10-K printsFY2025 · 1.46

Classic Z factor contributions

  • X1 Working capital / assets

    Short-term liquidity versus the size of the balance sheet.

    −0.02
    1.2 × = −0.03

  • X2 Retained earnings / assets

    Cushion from years of profits. Share buybacks can push this negative at otherwise healthy firms.

    0.19
    1.4 × = 0.27

  • X3 EBIT / assets

    Operating return on assets. Highest weight in the original model.

    0.10
    3.3 × = 0.34

  • X4 Book equity / liabilities

    Book equity versus the liability stack. Mega-caps often look greyer here than they would if X4 used market cap.

    0.81
    0.6 × = 0.49

  • X5 Sales / assets

    Asset turnover — how much revenue the asset base supports.

    0.39
    1 × = 0.39

Five-year path

Z plus liquidity (working capital / assets) and earnings (EBIT / assets) over the last 5 annual filings.

Overview

rule-v1

LINDE PLC is on classic Z at 1.46 (distress) for FY2025, from an SEC 10-K. Book equity / liabilities is the line that sets the print; sales / assets is the runner-up. Versus FY2024 the live print is still distress (−0.07 from 1.53). No market tape loaded. Classic Z was fit on manufacturers; buybacks can send retained earnings negative at otherwise healthy issuers, and X4 is book equity, not market cap.

Book screen Distress; market PD —. Tape not priced — not a single default call.

Market DD · naive Merton

No market tape yet.

Pull a year of closes (Yahoo, Nasdaq if Yahoo is limited) and size equity from Nasdaq cap or EDGAR shares. Distance-to-default and 1-year PD stay blank until then.

Sector peers

Closest Classic Z scores · 38th percentile in Materials.

KPI widgets

Current assets

$13.3B

Total assets

$86.8B

Current liabilities

$15.2B

Total liabilities

$47.1B

Working capital

−$1.9B

Retained earnings

$16.6B

EBIT

$8.9B

Total sales

$34.0B

Book equity

$38.2B

Accession 0001628280-26-011430. Live rank is the latest 10-K on EDGAR (FY2025, period 2025-12-31). Classic Z is the live score. View as does not rewrite the live rank. X4 is book equity. Pulled 13 Sept 2026.