<div id="readability-page-1"><div><p>Linde (LIN) stock is back in focus after the company issued €1.6b in euro notes, shortly after reporting Q1 2026 sales growth of 8% and adjusted EPS of US$4.33, with further EPS gains projected for Q2.</p> <p>See our latest analysis for Linde.</p> <p>Linde’s recent euro note issuance and Q1 update come after a steady run in the stock, with the share price at US$506.11, a 17.94% year to date share price return and a 12.05% one year total shareholder return, signalling momentum that has been positive rather than fading.</p> <p>If strong cash flows and infrastructure exposure appeal to you, this could be a good moment to broaden your search and check out 38 power grid technology and infrastructure stocks</p> <p>With the stock up 17.94% year to date and trading at US$506.11, plus analysts setting an average price target of US$541.61, should you see Linde as undervalued today, or is the market already pricing in future growth?</p> <h2>Most Popular Narrative: 6.4% Undervalued</h2> <p>Compared with the analyst fair value of $540.61, Linde’s last close at $506.11 sits at a modest discount, and the widely followed narrative leans on long-term contract visibility and energy transition exposure to justify that gap.</p> <blockquote> <p><em>Linde's project backlog has doubled over the last 4 years, anchored by long-term, fixed-fee contracts supporting U.S. clean energy and electronics infrastructure, and management expects this robust pipeline to remain at record levels, positioning the company for steady multi-year revenue and earnings growth.</em></p> </blockquote> <p><em>Read the complete narrative.</em></p> <p>Want to see what is backing that backlog story? The narrative leans on measured revenue gains, fatter margins, and a future earnings multiple that assumes investors keep paying up for consistency.</p> <p><strong>Result: Fair Value of $540.61 (UNDERVALUED)</strong></p> <p>Have a read of the narrative in full and understand what's behind the forecasts.</p> <p>However, the story could shift quickly if industrial demand in Europe stays weak or if helium and other gas markets face oversupply and heavier pricing pressure.</p> <p>Find out about the key risks to this Linde narrative.</p> <h2>Another View: Cash Flows Point To A Richer Price</h2> <p>Analysts framing Linde as 6.4% undervalued are leaning on earnings and multiples, but the SWS DCF model tells a very different story, with an estimated future cash flow value of US$372.79 versus the current US$506.11 share price, which implies the stock screens as overvalued on this lens.</p> <p>That kind of gap raises a practical question for you: is the market correctly paying up for long contracts and energy transition exposure, or are cash flow expectations simply set too high here to offer much margin for error?</p> <p>Look into how the SWS DCF model arrives at its fair value.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/eb5ee3aa-9d1a-4bb1-8127-16e0748e83af/chart/dcf/query-ZGF0ZT0yMDI2LTA1LTE2?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/eb5ee3aa-9d1a-4bb1-8127-16e0748e83af/chart/dcf/query-ZGF0ZT0yMDI2LTA1LTE2"/><figcaption>LIN Discounted Cash Flow as at May 2026</figcaption></figure><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out Linde for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 50 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p> <h2>Next Steps</h2> <p>With both risks and rewards in play, the question is how you personally weigh them, so do not wait too long to review the full picture for yourself and check the 2 key rewards and 2 important warning signs</p> <h2>Looking for more investment ideas?</h2> <p>If you stop with just one stock, you could miss other opportunities that better match your goals, risk comfort, and preferred sources of returns.</p> <ul> <li>Target potential mispricings by checking companies that screen as 50 high quality undervalued stocks and see which ones deserve a closer look.</li> <li>Build a steadier income stream by focusing on 12 dividend fortresses that might fit a yield-focused approach.</li> <li>Prioritize resilience by scanning 66 resilient stocks with low risk scores and seeing which businesses line up with your risk tolerance.</li> </ul> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data         and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your         financial situation. We aim to bring you long-term focused analysis driven by fundamental data.         Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.         Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

<p>Linde (LIN) issued €1.6b in euro notes and reported Q1 2026 sales growth of 8% with adjusted EPS of US$4.33. The stock is currently priced at US$506.11, showing a 17.94% year-to-date return. Analysts suggest it is 6.4% undervalued compared to a fair value of US$540.61, supported by long-term contracts in clean energy. However, a DCF model indicates it may be overvalued at current prices. Investors are advised to weigh risks and rewards carefully.</p>

A Look At Linde (LIN) Valuation After Euro Note Issuance And Q1 2026 Earnings Update