Linde reported $66.0B of remaining performance obligations at 30 Sep 2026, up 6% from a year earlier and up 3% from the previous quarter. That is 1.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.21.
Net new backlog added in the latest quarter: $2.00B.
Over the last twelve months it turned about 58% of its opening backlog into revenue (12-month conversion).
The company reports 50% of the backlog due within the first 72 months.
Customer prepayments (contract liabilities) cover 3.7% of the backlog.
Twelve-month book-to-bill: 1.11, i.e. 1.11 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -2 points — revenue is catching up with orders.
By backlog size it ranks 18th among US filers the cockpit tracks.
Linde backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$66.0B
$36.2B
1.8 yrs
$2.45B
30 Jun 2026
$64.0B
$35.4B
1.8 yrs
$2.41B
31 Mar 2026
$64.0B
$34.7B
1.8 yrs
$2.46B
31 Dec 2025
$62.0B
$34.0B
1.8 yrs
$2.52B
30 Sep 2025
$62.0B
$33.5B
1.9 yrs
$2.53B
30 Jun 2025
$61.0B
$33.2B
1.8 yrs
$2.49B
31 Mar 2025
$58.0B
$33.0B
1.8 yrs
$2.40B
31 Dec 2024
$58.0B
$33.0B
1.8 yrs
$2.29B
30 Sep 2024
$59.0B
$33.0B
1.8 yrs
$2.79B
30 Jun 2024
$50.0B
$32.8B
1.5 yrs
$2.82B
31 Mar 2024
$48.0B
$32.8B
1.5 yrs
$2.90B
31 Dec 2023
$48.0B
$32.9B
1.5 yrs
$2.95B
Questions
What is Linde's backlog?
Linde reported $66.0B of remaining performance obligations at 30 Sep 2026, up 6% from a year earlier and up 3% from the previous quarter. That is 1.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.21.
How fast does Linde's backlog turn into revenue?
Over the last twelve months Linde recognised revenue equal to about 58% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.