Linde (LIN), measured in bitcoin
One Linde share costs 591,895 sats today ($492.11). That's 49% more sats than a year ago, so over the past year the stock beat holding bitcoin. Since 2019, its shareholder return has been +17% a year in dollars, faster than the money supply grew (+6.6%), and −20% a year measured in bitcoin.
Next earnings: Thursday, October 29 before the open.
What one share costs in bitcoin today ($492.11). One bitcoin is 100 million sats.
More sats per share than a year ago. Above zero means the stock beat simply holding bitcoin.
Cash the business produces per share, plus how fast that grows, since 2019. Beat new dollars (+6.6%/yr); trailed bitcoin (+1.8%/yr new supply).
What each $1 it spent buying back its own stock since 2023 is worth today, versus the same $1 in bitcoin bought at the same times. Bitcoin wins.
$9.3 billion of revenue in the quarter to Jun 30, 2026, at that quarter's average price: ₿129,677 of the 21 million that will ever exist.
Since mid-2022 it paid shareholders $6.9 billion more than its business generated; the gap came from paid out 134% of free cash flow.
Questions
- How many sats is one Linde share?
- 591,895 sats ($492.11) at the close on October 13, 2026, or 0.00592 bitcoin.
- Did Linde's buybacks beat bitcoin?
- No. It spent $14.7 billion buying back its own stock since 2023. Each $1 is now worth $1.15 in shares; the same $1 in bitcoin, bought at the same times, would be worth $1.53. (Per dollar: at that size the buying itself would have moved bitcoin's price.)