CRH vs Linde
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KIRA’s take AI analyst
I put CRH and Linde side by side, using each one’s latest annual report. Here is what stands out:
- CRH is the larger business, with $37.4B of revenue in fiscal 2025 against $34.0B for Linde.
- CRH grew revenue faster (5.3%, against 3.0%).
- Linde kept more of each dollar of sales as operating profit (26.3% operating margin, against 14.5%).
- Linde turned more of its sales into free cash flow (15.0% FCF margin, against 7.8%).
- Investors pay more for each dollar of Linde’s earnings: a P/E of 32.8x against 15.1x for CRH.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
CRH
CRH
4/10
Revenue growth5-year growthReturn on capitalPiotroski F-score
Linde
LIN
6/10
Operating marginNet marginFCF marginReturn on equityNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | CRH FY25 | LIN FY25 |
|---|---|---|
| Size | ||
| Market cap | $57.1B | $235.8B |
| Revenue | $37.4B | $34.0B |
| Free cash flow | $2.9B | $5.1B |
| Net income | $3.8B | $6.9B |
| Growth | ||
| Revenue growth | 5.3% | 3.0% |
| 5-year growth | 7.7% | 4.5% |
| Share count change | −1.8% | −2.1% |
| Profitability | ||
| Gross margin | 36.1% | — |
| Operating margin | 14.5% | 26.3% |
| Net margin | 10.0% | 20.3% |
| FCF margin | 7.8% | 15.0% |
| Return on capital | 11.8% | 11.7% |
| Return on equity | 16.5% | 18.1% |
| Balance sheet | ||
| Net debt | $14.1B | $22.1B |
| Net debt / EBITDA | 1.9x | 1.8x |
| Dividends and buybacks | $1.2B | $7.4B |
| Valuation & quality | ||
| P/E | 15.1x | 32.8x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.