Chemicals - Specialty
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PPG vs LIN
Revenue, margins, valuation, and 5-year total return — side by side.
Chemicals - Specialty
PPG vs LIN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Chemicals - Specialty | Chemicals - Specialty |
| Market Cap | $24.96B | $232.56B |
| Revenue (TTM) | $16.12B | $34.66B |
| Net Income (TTM) | $1.58B | $7.13B |
| Gross Margin | 40.6% | 46.0% |
| Operating Margin | 12.8% | 28.8% |
| Forward P/E | 14.1x | 28.1x |
| Total Debt | $7.45B | $26.99B |
| Cash & Equiv. | $2.16B | $5.06B |
PPG vs LIN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| PPG Industries, Inc. (PPG) | 100 | 109.7 | +9.7% |
| Linde plc (LIN) | 100 | 248.0 | +148.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PPG vs LIN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
PPG is the clearest fit if your priority is income & stability and defensive.
- Dividend streak 15 yrs, beta 1.07, yield 2.5%
- Beta 1.07, yield 2.5%, current ratio 1.62x
- Lower P/E (14.1x vs 28.1x)
LIN carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 3.0%, EPS growth 7.1%, 3Y rev CAGR 0.6%
- 376.9% 10Y total return vs PPG's 23.5%
- Lower volatility, beta 0.24, Low D/E 67.9%, current ratio 0.88x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 3.0% revenue growth vs PPG's 0.2% | |
| Value | Lower P/E (14.1x vs 28.1x) | |
| Quality / Margins | 20.6% margin vs PPG's 9.8% | |
| Stability / Safety | Beta 0.24 vs PPG's 1.07 | |
| Dividends | 2.5% yield, 15-year raise streak, vs LIN's 1.2% | |
| Momentum (1Y) | +13.6% vs PPG's +5.3% | |
| Efficiency (ROA) | 8.5% ROA vs LIN's 8.3%, ROIC 23.5% vs 11.3% |
PPG vs LIN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
PPG vs LIN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
LIN leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
LIN is the larger business by revenue, generating $34.7B annually — 2.1x PPG's $16.1B. LIN is the more profitable business, keeping 20.6% of every revenue dollar as net income compared to PPG's 9.8%.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $16.1B | $34.7B |
| EBITDAEarnings before interest/tax | $2.6B | $12.1B |
| Net IncomeAfter-tax profit | $1.6B | $7.1B |
| Free Cash FlowCash after capex | $1.2B | $5.1B |
| Gross MarginGross profit ÷ Revenue | +40.6% | +46.0% |
| Operating MarginEBIT ÷ Revenue | +12.8% | +28.8% |
| Net MarginNet income ÷ Revenue | +9.8% | +20.6% |
| FCF MarginFCF ÷ Revenue | +7.6% | +14.7% |
| Rev. Growth (YoY)Latest quarter vs prior year | +6.7% | +8.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +4.3% | +13.4% |
Valuation Metrics
PPG leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 16.1x trailing earnings, PPG trades at a 53% valuation discount to LIN's 34.4x P/E. Adjusting for growth (PEG ratio), LIN offers better value at 1.36x vs PPG's 1.75x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||
|---|---|---|
| Market CapShares × price | $25.0B | $232.6B |
| Enterprise ValueMkt cap + debt − cash | $30.2B | $254.5B |
| Trailing P/EPrice ÷ TTM EPS | 16.12x | 34.40x |
| Forward P/EPrice ÷ next-FY EPS est. | 14.15x | 28.12x |
| PEG RatioP/E ÷ EPS growth rate | 1.75x | 1.36x |
| EV / EBITDAEnterprise value multiple | 11.21x | 20.04x |
| Price / SalesMarket cap ÷ Revenue | 1.57x | 6.84x |
| Price / BookPrice ÷ Book value/share | — | 5.92x |
| Price / FCFMarket cap ÷ FCF | 21.46x | 45.70x |
Profitability & Efficiency
PPG leads this category, winning 7 of 8 comparable metrics.
Profitability & Efficiency
PPG delivers a 31.1% return on equity — every $100 of shareholder capital generates $31 in annual profit, vs $18 for LIN. On the Piotroski fundamental quality scale (0–9), PPG scores 7/9 vs LIN's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +31.1% | +17.8% |
| ROA (TTM)Return on assets | +8.5% | +8.3% |
| ROICReturn on invested capital | +23.5% | +11.3% |
| ROCEReturn on capital employed | +24.8% | +13.0% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 6 |
| Debt / EquityFinancial leverage | — | 0.68x |
| Net DebtTotal debt minus cash | $5.3B | $21.9B |
| Cash & Equiv.Liquid assets | $2.2B | $5.1B |
| Total DebtShort + long-term debt | $7.4B | $27.0B |
| Interest CoverageEBIT ÷ Interest expense | 9.16x | 34.52x |
Total Returns (Dividends Reinvested)
LIN leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in LIN five years ago would be worth $17,813 today (with dividends reinvested), compared to $6,905 for PPG. Over the past 12 months, LIN leads with a +13.6% total return vs PPG's +5.3%. The 3-year compound annual growth rate (CAGR) favors LIN at 12.4% vs PPG's -4.8% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +7.6% | +17.3% |
| 1-Year ReturnPast 12 months | +5.3% | +13.6% |
| 3-Year ReturnCumulative with dividends | -13.8% | +41.9% |
| 5-Year ReturnCumulative with dividends | -30.9% | +78.1% |
| 10-Year ReturnCumulative with dividends | +23.5% | +376.9% |
| CAGR (3Y)Annualised 3-year return | -4.8% | +12.4% |
Risk & Volatility
LIN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
LIN is the less volatile stock with a 0.24 beta — it tends to amplify market swings less than PPG's 1.07 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LIN currently trades 96.3% from its 52-week high vs PPG's 83.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.07x | 0.24x |
| 52-Week HighHighest price in past year | $133.43 | $521.28 |
| 52-Week LowLowest price in past year | $93.39 | $387.78 |
| % of 52W HighCurrent price vs 52-week peak | +83.6% | +96.3% |
| RSI (14)Momentum oscillator 0–100 | 46.3 | 50.6 |
| Avg Volume (50D)Average daily shares traded | 2.0M | 2.3M |
Analyst Outlook
PPG leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates PPG as "Buy" and LIN as "Buy". Consensus price targets imply 14.5% upside for PPG (target: $128) vs 7.5% for LIN (target: $540). For income investors, PPG offers the higher dividend yield at 2.48% vs LIN's 1.20%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $127.67 | $539.71 |
| # AnalystsCovering analysts | 38 | 28 |
| Dividend YieldAnnual dividend ÷ price | +2.5% | +1.2% |
| Dividend StreakConsecutive years of raises | 15 | 6 |
| Dividend / ShareAnnual DPS | $2.77 | $6.00 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.2% | +2.0% |
LIN leads in 3 of 6 categories (Income & Cash Flow, Total Returns). PPG leads in 3 (Valuation Metrics, Profitability & Efficiency).
PPG vs LIN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is PPG or LIN a better buy right now?
For growth investors, Linde plc (LIN) is the stronger pick with 3.
0% revenue growth year-over-year, versus 0. 2% for PPG Industries, Inc. (PPG). PPG Industries, Inc. (PPG) offers the better valuation at 16. 1x trailing P/E (14. 1x forward), making it the more compelling value choice. Analysts rate PPG Industries, Inc. (PPG) a "Buy" — based on 38 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PPG or LIN?
On trailing P/E, PPG Industries, Inc.
(PPG) is the cheapest at 16. 1x versus Linde plc at 34. 4x. On forward P/E, PPG Industries, Inc. is actually cheaper at 14. 1x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Linde plc wins at 1. 11x versus PPG Industries, Inc. 's 1. 53x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — PPG or LIN?
Over the past 5 years, Linde plc (LIN) delivered a total return of +78.
1%, compared to -30. 9% for PPG Industries, Inc. (PPG). Over 10 years, the gap is even starker: LIN returned +376. 9% versus PPG's +23. 5%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PPG or LIN?
By beta (market sensitivity over 5 years), Linde plc (LIN) is the lower-risk stock at 0.
24β versus PPG Industries, Inc. 's 1. 07β — meaning PPG is approximately 344% more volatile than LIN relative to the S&P 500.
05Which is growing faster — PPG or LIN?
By revenue growth (latest reported year), Linde plc (LIN) is pulling ahead at 3.
0% versus 0. 2% for PPG Industries, Inc. (PPG). On earnings-per-share growth, the picture is similar: PPG Industries, Inc. grew EPS 45. 7% year-over-year, compared to 7. 1% for Linde plc. Over a 3-year CAGR, LIN leads at 0. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PPG or LIN?
Linde plc (LIN) is the more profitable company, earning 20.
3% net margin versus 9. 9% for PPG Industries, Inc. — meaning it keeps 20. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: LIN leads at 26. 3% versus 13. 7% for PPG. At the gross margin level — before operating expenses — LIN leads at 43. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PPG or LIN more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, Linde plc (LIN) is the more undervalued stock at a PEG of 1. 11x versus PPG Industries, Inc. 's 1. 53x. A PEG below 1. 5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, PPG Industries, Inc. (PPG) trades at 14. 1x forward P/E versus 28. 1x for Linde plc — 14. 0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PPG: 14. 5% to $127. 67.
08Which pays a better dividend — PPG or LIN?
All stocks in this comparison pay dividends.
PPG Industries, Inc. (PPG) offers the highest yield at 2. 5%, versus 1. 2% for Linde plc (LIN).
09Is PPG or LIN better for a retirement portfolio?
For long-horizon retirement investors, Linde plc (LIN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
24), 1. 2% yield, +376. 9% 10Y return). Both have compounded well over 10 years (LIN: +376. 9%, PPG: +23. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PPG and LIN?
Both stocks operate in the Basic Materials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PPG is a mid-cap deep-value stock; LIN is a large-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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