(AI) Air Liquide - Overview
Sector: Basic Materials | Industry: Specialty Chemicals | Exchange: PA (France) | Market Cap: 100.702m EUR | Total Return: -0% in 12m
Avg Turnover: 136M
Warnings
Choppy
Tailwinds
No distinct edge detected
Air Liquide S.A. is a global provider of industrial and medical gases, operating across Europe, the Americas, Asia-Pacific, and the Middle East. The company functions through two primary segments: Gas & Services and Engineering & Construction. Its portfolio includes the production and distribution of oxygen, nitrogen, hydrogen, and noble gases for industries ranging from metallurgy and refining to electronics and healthcare.
The industrial gas business model relies heavily on long-term take-or-pay contracts, particularly in the Large Industries segment, where facilities are often built directly on or adjacent to customer sites to reduce logistics costs. As a key player in the specialty chemicals sector, Air Liquide also designs and builds industrial plants for third parties, focusing on low-carbon hydrogen and renewable energy technologies to support the global energy transition.
Reviewing historical performance trends on ValueRay can provide further clarity on the companys long-term growth trajectory.
Founded in 1902 and headquartered in Paris, the company maintains a diverse revenue stream by serving both cyclical industrial markets and defensive sectors like home healthcare and pharmaceuticals.
- Expansion of green hydrogen infrastructure drives long term capital expenditure growth
- Industrial gas demand correlates with heavy manufacturing and steel production cycles
- Semiconductor industry growth accelerates high purity electronics gas revenue
- Energy price fluctuations impact margins despite contractual pass through mechanisms
- Aging populations increase demand for home healthcare and medical oxygen services
| Net Income: 3.52b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.77 > 1.0 |
| NWC/Revenue: 4.57% < 20% (prev -8.69%; Δ 13.26% < -1%) |
| CFO/TA 0.12 > 3% & CFO 6.35b > Net Income 3.52b |
| Net Debt (12.0b) to EBITDA (8.15b): 1.47 < 3 |
| Current Ratio: 1.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (577.0m) vs 12m ago -0.21% < -2% |
| Gross Margin: 35.77% > 18% (prev 0.62%; Δ 3.52k% > 0.5%) |
| Asset Turnover: 52.93% > 50% (prev 54.13%; Δ -1.20% > 0%) |
| Interest Coverage Ratio: 9.14 > 6 (EBITDA TTM 8.15b / Interest Expense TTM 611.0m) |
| A: 0.02 (Total Current Assets 9.99b - Total Current Liabilities 8.76b) / Total Assets 51.9b |
| B: 0.40 (Retained Earnings 21.0b / Total Assets 51.9b) |
| C: 0.11 (EBIT TTM 5.58b / Avg Total Assets 50.9b) |
| D: 0.97 (Book Value of Equity 24.2b / Total Liabilities 25.0b) |
| Altman-Z'' = 3.23 = A |
| DSRI: 0.92 (Receivables 2.90b/3.15b, Revenue 26.9b/27.0b) |
| GMI: 1.72 (GM 35.77% / 61.54%) |
| AQI: 0.94 (AQ_t 0.33 / AQ_t-1 0.35) |
| SGI: 1.00 (Revenue 26.9b / 27.0b) |
| TATA: -0.05 (NI 3.52b - CFO 6.35b) / TA 51.9b) |
| Beneish M = -2.53 (Cap -4..+1) = A |
As of May 24, 2026, the stock is trading at EUR 180.38 with a total of 882,890 shares traded.
Over the past week, the price has changed by +4.34%,
over one month by -2.11%,
over three months by +5.22% and
over the past year by -0.02%.
Air Liquide has no consensus analysts rating.
P/E Trailing = 28.7007
P/E Forward = 23.0415
P/S = 3.738
P/B = 3.8552
P/EG = 2.056
Revenue TTM = 26.9b EUR
EBIT TTM = 5.58b EUR
EBITDA TTM = 8.15b EUR
Long Term Debt = 10.0b EUR (from longTermDebt, last quarter)
Short Term Debt = 2.57b EUR (from shortTermDebt, last quarter)
Debt = 15.9b EUR (from shortLongTermDebtTotal, last quarter) + Leases 1.26b
Net Debt = 12.0b EUR (calculated: Debt 15.9b - CCE 3.96b)
Enterprise Value = 113b EUR (101b + Debt 15.9b - CCE 3.96b)
Interest Coverage Ratio = 9.14 (Ebit TTM 5.58b / Interest Expense TTM 611.0m)
EV/FCF = 44.86x (Enterprise Value 113b / FCF TTM 2.51b)
FCF Yield = 2.23% (FCF TTM 2.51b / Enterprise Value 113b)
FCF Margin = 9.32% (FCF TTM 2.51b / Revenue TTM 26.9b)
Net Margin = 13.06% (Net Income TTM 3.52b / Revenue TTM 26.9b)
Gross Margin = 35.77% ((Revenue TTM 26.9b - Cost of Revenue TTM 17.3b) / Revenue TTM)
Gross Margin QoQ = 36.55% (prev 63.36%)
Tobins Q-Ratio = 2.17 (Enterprise Value 113b / Total Assets 51.9b)
Interest Expense / Debt = 3.84% (Interest Expense 611.0m / Debt 15.9b)
Taxrate = 25.25% (600.8m / 2.38b)
NOPAT = 4.17b (EBIT 5.58b * (1 - 25.25%))
Current Ratio = 1.14 (Total Current Assets 9.99b / Total Current Liabilities 8.76b)
Debt / Equity = 0.61 (Debt 15.9b / totalStockholderEquity, last quarter 26.2b)
Debt / EBITDA = 1.47 (Net Debt 12.0b / EBITDA 8.15b)
Debt / FCF = 4.77 (Net Debt 12.0b / FCF TTM 2.51b)
Total Stockholder Equity = 25.6b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.91% (Net Income 3.52b / Total Assets 51.9b)
RoE = 13.76% (Net Income TTM 3.52b / Total Stockholder Equity 25.6b)
RoCE = 15.68% (EBIT 5.58b / Capital Employed (Equity 25.6b + L.T.Debt 10.0b))
RoIC = 9.15% (NOPAT 4.17b / Invested Capital 45.6b)
WACC = 5.67% (E(101b)/V(117b) * Re(6.11%) + D(15.9b)/V(117b) * Rd(3.84%) * (1-Tc(0.25)))
Discount Rate = 6.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 56.83 | Cagr: 4.58%
[DCF] Terminal Value 73.93% ; FCFF base≈2.63b ; Y1≈2.41b ; Y5≈2.13b
[DCF] Fair Price = 37.94 (EV 33.9b - Net Debt 12.0b = Equity 21.9b / Shares 577.1m; r=8.35% [WACC [floored]]; 5y FCF grow -10.21% → 2.50% )
EPS Correlation: -61.79 | EPS CAGR: -9.74% | SUE: 0.0 | # QB: 0
Revenue Correlation: -73.20 | Revenue CAGR: -2.87% | SUE: -0.01 | # QB: 0
EPS current Year (2026-12-31): EPS=7.06 | Chg30d=-0.77% | Revisions=-41% | GrowthEPS=+10.7% | GrowthRev=+4.4%
EPS next Year (2027-12-31): EPS=7.81 | Chg30d=-0.61% | Revisions=-29% | GrowthEPS=+10.6% | GrowthRev=+4.8%
[Analyst] Revisions Ratio: -41%