Screened 2026-07-24 · the tape above runs as of 22:40 UTC · 24 Jul · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markup label.
Linde plc holds its Markup at $512.28. Consolidating, no directional conviction, held for 262 days.
As held on the ledger · 2026-07-24
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 262 days
Price at the screen
$512.28
Valuation
33.95 trailing · 26.11 forward price to earnings
Values screen
PASS· score 82.4
Beta
0.72
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
32.33%
Below 33%
Interest-bearing debt is just 32.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.45%
Below 33%
Cash held in interest-bearing accounts and securities is 2.4% of assets, under the one-third limit.
Pass
Receivables
11.54%
Below 49%
Money owed to the company is 11.5% of assets, under the 49% limit.
Pass
Revenue purity
0.61%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OVERVALUED: it trades above our $357.90 fair value estimate, moderate competitive moat, 8.20% revenue growth.
Fair value range in USD, drawn from the 2026-07-24 screen. The gold marker is the market price at the same screen. The price runs 30.1% above the base estimate.
Third-party analyst targets: 25 covering, consensus Buy. The average target sits +7% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-07-24 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Gases Flow Steady but Price Does Not
Steel plants and chip fabs cannot run without steady supplies of oxygen and nitrogen. Linde delivers those gases at solid 20% margins and 18% returns on equity, with revenue growing 8% a year. Yet the shares sit 30% above our fair value at a 26 times forward earnings multiple.
We pass. The business carries only a moderate moat and operates in a cyclical industry where earnings peak just before multiples compress. A 26 times multiple on modest growth already prices in perfection that downturns in construction and manufacturing tend to break.
Currency swings, energy costs and customer capex cuts remain real threats. The buy-rated analyst target of 550 dollars does not change the fact that the current price leaves little margin for error. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to United Kingdom and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LIN trades on a US exchange (the company is based in United Kingdom). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-07-24Markup$513.22+1.0%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (25 analysts) rates it buy, with a mean price target of $542. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-18Markup$507.90+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (25 analysts) rates it buy, with a mean price target of $542.
2026-07-03Markup$507.90+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$507.90Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.