LindeBUD:LINDEPLC 93 Return-on-Tangible-Asset is 15.84% as of Mar. 2026, which is 59% above its 10-year median of 9.98. GuruFocus rates BUD:LINDEPLC with a GF Score™ of 93/100 and a GF Value™ of Ft109,510.03. The stock has 7 warning signs investors should review. Among 1,608 Chemicals companies, Linde ranks better than 95.71% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Linde's annualizedNet Income for the quarter that ended in Mar. 2026 was Ft2,293,633 Mil. Linde's average total tangible assets for the quarter that ended in Mar. 2026 was Ft14,478,635 Mil. Therefore, Linde's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 15.84%.
The historical rank and industry rank for Linde's Return-on-Tangible-Asset or its related term are showing as below:
BUD:LINDEPLC'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 4.87 Med: 9.98 Max: 15.53
Current: 15.34
During the past 13 years, Linde's highest Return-on-Tangible-Asset was 15.53%. The lowest was 4.87%. And the median was 9.98%.
BUD:LINDEPLC's Return-on-Tangible-Asset is ranked better than 95.71% of 1608
companies
in the Chemicals industry
Industry Median: 3.05
vs BUD:LINDEPLC: 15.34
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Linde Return-on-Tangible-Asset Related Terms
Linde Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Linde's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
BUD:LINDEPLC vs SHW, ECL, APD: Return-on-Tangible-Asset Comparison
For the Specialty Chemicals subindustry, Linde's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Linde Return-on-Tangible-Asset vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Linde's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Linde's Return-on-Tangible-Asset falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 15.84% mean?
Linde (BUD:LINDEPLC) has a Return-on-Tangible-Asset of 15.84% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Linde and its competitors. This is 59% above median its historical median of 9.98. Over the past decade, Linde's Return-on-Tangible-Asset has ranged from 4.87 to 15.53. According to the industry distribution chart, Linde ranks #69 out of 1608 companies in the Chemicals industry, placing it in the top 4.3%.
Is Linde's Return-on-Tangible-Asset too high?
Linde's current Return-on-Tangible-Asset of 15.84% is 59% above median its 10-year median of 9.98. Over the past 10 years, this metric has ranged from a low of 4.87 to a high of 15.53. The Chemicals industry median Return-on-Tangible-Asset is 3.05. Linde's value of 15.84% is 419.3% above this industry median. Based on the distribution chart, Linde ranks #69 out of 1608 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Linde has a GF Score™ of 93/100, reflecting its overall financial health beyond just this single metric.
How does Linde's Return-on-Tangible-Asset compare to SHW and ECL?
According to the Chemicals industry distribution chart, Linde ranks #69 out of 1608 companies for Return-on-Tangible-Asset. This places Linde in the top 4% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.05. Linde's value of 15.84% is 419.3% above this benchmark. Historically, Linde's own Return-on-Tangible-Asset has ranged from 4.87 to 15.53 over the past decade. While the company's 10-year median is 9.98 vs. the industry median of 3.05, Linde has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Chemicals company?
The median Return-on-Tangible-Asset among Chemicals companies is 3.05, based on 1,608 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Linde's current Return-on-Tangible-Asset of 15.84% is 419.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Linde and its competitors. For the Chemicals industry, the median Return-on-Tangible-Asset is 3.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Linde's current Return-on-Tangible-Asset is 15.84%, which is 59% above median its own 10-year median of 9.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Linde stock overvalued right now?
Linde (BUD:LINDEPLC) has a current Return-on-Tangible-Asset of 15.84%. The stock's GF Value™ is Ft109,510.03, compared to a current price of Ft121,430.00 — trading 10.9% above its estimated fair value. The current Return-on-Tangible-Asset is 15.84%, which is 59% above median its 10-year median of 9.98 and 419.3% above the Chemicals industry median of 3.05. Linde's overall GF Score™ is 93/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Linde (BUD:LINDEPLC), the current Return-on-Tangible-Asset is 15.84% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Linde (BUD:LINDEPLC) Overvalued in 2026?
Based on GuruFocus' analysis, Linde stock appears to be overvalued.
The current stock price of Ft121,430.00 is trading 10.9% above its estimated GF Value™ of Ft109,510.03.
Key valuation signals for BUD:LINDEPLC:
Return-on-Tangible-Asset: 15.84% (59% above median its 10-year median of 9.98)
GF Value™: Ft109,510.03 vs. price of Ft121,430.00 (10.9% above fair value)
Industry Position: 419.3% above the Chemicals median (#69 of 1608)
No single metric tells the full story. See the BUD:LINDEPLC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Linde is the largest industrial gas supplier in the world, with operations in over 100 countries. The firm's main products are atmospheric gases (including oxygen, nitrogen, and argon) and process gases (including hydrogen, carbon dioxide, and helium), as well as equipment used in industrial gas production. Linde serves a wide variety of end markets, including chemicals, manufacturing, healthcare, and steelmaking. Linde generated approximately $34 billion in revenue in 2025.
93GF Score
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