Linde plc, a well-known player in the industrial gases sector, has been given a neutral rating by UBS. The company generates a significant portion of its revenue, approximately 89.5%, from the production and sale of industrial gases.

Its sales are diversified across various markets, with chemicals and energy, and manufacturing each accounting for 22%, followed by healthcare at 17%, metals and mining at 14%, food processing at 9%, electronics at 9%, and other sectors making up the remaining 7%.

Geographically, Linde's sales are primarily concentrated in the United States, which represents 32.2% of its revenue. Other key markets include Germany at 8.6%, China at 7.8%, and the United Kingdom at 4.6%. Additionally, Australia and Brazil contribute 4% each, while the remaining 38.8% comes from various other regions. The company also engages in surface engineering services, contributing 6.6% to its overall sales, along with other activities that account for 3.9%.