Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Linde plc (LIN) Halal?

PASS

Linde plc · NASDAQ: LIN · Materials

The short answer

Yes — Linde plc (LIN) passes this Shariah stock screen. The world's largest industrial gases company (atmospheric and process gases; Linde Engineering; Irish-domiciled) has no disclosed prohibited business lines. Its total debt of $26,989M is about 12.4% of its ~$217.5B market cap ($469.45, October 1, 2026), below the ~33% ceiling. Interest income of $209M is about 0.61% of FY2025 revenue ($33,986M), below the 5% non-compliant income ceiling. Both Zoya and Musaffa rate Linde halal/Shariah-compliant; no ShariaPortfolio rating was found — honestly reported as absent, not invented. Note: Linde transferred its listing from the NYSE to Nasdaq on November 7, 2023.

Gate 1 — Business activity: PASS

Linde plc (NASDAQ: LIN), Irish-domiciled with headquarters in Woking, UK and Danbury, Connecticut, is the world's largest industrial gases company. Per its FY2025 Form 10-K its primary products are atmospheric gases (oxygen, nitrogen, argon and rare gases such as krypton, neon and xenon) and process gases (hydrogen, helium, carbon dioxide, carbon monoxide, electronic and specialty gases, acetylene), sold via on-site, merchant/bulk and packaged channels. It also runs Linde Engineering, which designs and builds air-separation, hydrogen, synthesis, olefin and natural-gas plants. Customers span healthcare, chemicals and energy, manufacturing, metals and mining, food & beverage, and electronics. Listing correction: Linde transferred its listing from the NYSE to Nasdaq on November 7, 2023 — its current exchange is Nasdaq, not NYSE. No prohibited lines are disclosed — no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, weapons manufacturing or adult entertainment (healthcare = medical gases, permissible). Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Linde's Form 10-K for fiscal 2025 (filed February 25, 2026), total debt was $26,989M — short-term debt $4,510M, current portion of long-term debt $1,796M, and long-term debt $20,683M on the balance sheet. Against a market cap of about $217.5B (463,394,156 shares at January 31, 2026 × $469.45 on October 1, 2026; Finnhub's own quote: $218.21B), debt ÷ market cap is about 12.4%, below the ~33% ceiling. Cash and cash equivalents ($5,056M) plus investments and securities ($33M) total $5,089M, about 2.3% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Linde's FY2025 10-K (Interest Expense–Net note) reports interest income of $209M against sales of $33,986M — about 0.61% of revenue, below the 5% non-compliant income ceiling. The 10-K also discloses $62M of net interest income in 2025 from forward exchange contracts (recorded as a reduction in interest expense–net) — even adding it ($271M ÷ $33,986M = 0.80%), the ratio stays far below the ceiling. (Zoya's page cites interest income of only $29M = 0.09% — a methodology discrepancy; both figures are far under 5%.) Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Linde do?

Linde plc (NASDAQ: LIN), Irish-domiciled with headquarters in Woking, UK and Danbury, Connecticut, is the world's largest industrial gases company. Per its FY2025 10-K its primary products are atmospheric gases (oxygen, nitrogen, argon and rare gases such as krypton, neon and xenon) and process gases (hydrogen, helium, carbon dioxide, carbon monoxide, electronic and specialty gases, acetylene), sold via on-site, merchant/bulk and packaged channels. It also runs Linde Engineering, which designs and builds air-separation, hydrogen, synthesis, olefin and natural-gas plants. Customers span healthcare (medical gases), chemicals and energy, manufacturing, metals and mining, food & beverage, and electronics. Note: Linde transferred its listing from the NYSE to Nasdaq on November 7, 2023 — its current exchange is Nasdaq, not NYSE.

Why does Linde pass this Shariah stock screen?

Linde passes all three gates of this screen. Its business — industrial gases and engineering — has no disclosed prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, weapons manufacturing or adult entertainment; its healthcare activity is medical gases, which is permissible). Total debt of $26,989M is about 12.4% of its ~$217.5B market cap, below the ~33% ceiling. Interest income of $209M is about 0.61% of FY2025 revenue ($33,986M), below the 5% non-compliant income ceiling. Both Zoya and Musaffa rate Linde halal/Shariah-compliant. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Linde's interest-bearing debt ratio?

Per Linde's Form 10-K for fiscal 2025 (filed February 25, 2026), total debt was $26,989M — short-term debt $4,510M, current portion of long-term debt $1,796M, and long-term debt $20,683M on the balance sheet. Against a market cap of about $217.5B (463,394,156 shares at January 31, 2026 × $469.45, October 1, 2026; Finnhub's own quote: $218.21B), debt ÷ market cap is about 12.4% — below the ~33% ceiling. Cash and cash equivalents ($5,056M) plus investments and securities ($33M) total $5,089M, about 2.3% of market cap.

What is Linde's non-compliant income ratio?

Linde's FY2025 10-K (Interest Expense–Net note) reports interest income of $209M against sales of $33,986M — about 0.61% of revenue, below the 5% non-compliant income ceiling. The 10-K also discloses $62M of net interest income in 2025 from forward exchange contracts (recorded as a reduction in interest expense–net) — even adding it ($271M ÷ $33,986M = 0.80%), the ratio stays far below the ceiling. Note: Zoya's page cites interest income of only $29M (0.09%) for FY2025 — a methodology discrepancy, but both figures are far under 5%, so the conclusion is unaffected.

Do Zoya, Musaffa, or ShariaPortfolio cover Linde?

Zoya covers LIN and states: "As of September 2026, LIN is Shariah-compliant and therefore considered halal to invest in" (zoya.finance/stocks/lin); Zoya's blog also features it in "Top Rated Halal Stocks" as Strong Buy. Musaffa covers LIN as HALAL under AAOIFI methodology (its Academy lists: Halal Stocks in the MSCI World Index, and 20 Halal Stocks in the United States — though the Academy pages still label the exchange as NYSE, which is stale). No public ShariaPortfolio rating for LIN was found — reported as absent, not invented. This page applies the screen directly from Linde's own filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).