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Air Liquide (AIQUY)
OTHER OTC:AIQUY
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Air Liquide
(OTC:AIQUY)
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Rating:75Outperform
Price Target:
$45.00
▲(11.44% Upside)
Air Liquide's overall stock score is driven by its strong financial performance and positive earnings call sentiment, which highlight robust operational efficiency and strategic growth initiatives. However, the high valuation and mixed technical indicators slightly temper the overall score.
Positive Factors
Operational Efficiency
The significant margin improvement reflects enhanced operational efficiency, which can lead to sustained profitability and competitive advantage.
Investment Backlog
A strong investment backlog secures future growth opportunities, indicating robust long-term planning and strategic project execution.
Electronics Investment
Significant investment in Electronics positions Air Liquide to capitalize on growing demand in the semiconductor industry, enhancing future revenue streams.
Negative Factors
Soft Performance in Asia
Weak performance in Asia could hinder growth in a key market, potentially impacting revenue and market share if not addressed.
Challenges in China
Ongoing challenges in China, especially in helium, may affect Air Liquide's ability to leverage growth in one of the world's largest markets.
Decreased Contribution from Argentina
Reduced contribution from Argentina indicates regional instability, which could affect overall financial performance if not mitigated.
Air Liquide (AIQUY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$106.82B
Dividend Yield1.94%
Average Volume (3M)10.26K
Price to Earnings (P/E)28.6
Beta (1Y)0.26
Revenue Growth2.04%
EPS Growth13.28%
CountryUS
Employees64,124
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.77
Shares Outstanding2,896,922,000
10 Day Avg. Volume0
30 Day Avg. Volume10,260
Financial Highlights & Ratios
PEG Ratio3.73
Price to Book (P/B)3.34
Price to Sales (P/S)3.32
P/FCF Ratio32.09
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue4.09
Enterprise Value/Gross Profit6.47
Enterprise Value/Ebitda14.82
Forecast
1Y Price Target
$123.60Price Target Upside206.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Air Liquide Business Overview & Revenue Model
Company DescriptionAir Liquide is a global leader in gases, technologies, and services for industries and health. The company operates in several sectors, including industrial gases, healthcare, electronics, and renewable energies. Core products and services include oxygen, nitrogen, hydrogen, and specialty gases, as well as integrated solutions for various industrial processes and healthcare applications.
How the Company Makes MoneyAir Liquide generates revenue primarily through the sale of industrial gases, which are used across various industries such as manufacturing, energy, food and beverage, and healthcare. The company operates a diversified revenue model that includes long-term contracts with major industrial clients, which provide stable income streams, as well as on-demand sales. Key revenue streams include the production and distribution of gases, equipment sales, and maintenance services. Additionally, Air Liquide has formed significant partnerships and joint ventures with other companies to enhance its market reach and capabilities, particularly in emerging sectors like hydrogen energy and digital services, which further contribute to its earnings.
Air Liquide Earnings Call Summary
Earnings Call Date:Jul 29, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Feb 20, 2026
Earnings Call Sentiment Positive
The earnings call highlighted Air Liquide's strong financial performance in the first half of 2025, with significant achievements in operational efficiency and investment backlog. While there were challenges in specific regions like Asia and China, the overall resilience and strategic growth initiatives position the company positively for future growth. The sentiment is largely positive due to the outweighing highlights of strong operational metrics and strategic growth investments.Q2-2025 Updates
Positive Updates
Record OR Margin Improvement
Achieved a record Gas & Services OR margin improvement, reaching plus 130 basis points, excluding the energy pass-through effect.
Significant Efficiency Gains
Delivered record high efficiencies, reaching EUR 287 million, a significant plus 23% compared to H1 2024.
Strong Investment Backlog
Solid investment backlog stands at a new record high of EUR 4.6 billion, securing future growth.
Strong Performance in the Americas
Sales in the Americas have been strong overall, reaching plus 3% on a comparable basis, driven by robust growth in Healthcare and Large Industry.
Growth in Electronics Investment
Secured close to EUR 1 billion of new investment in Electronics, with major projects announced in Germany, the U.S., and Asia.
Negative Updates
Soft Performance in Asia
Activity in Asia was soft in Q2, with Merchant sales generally soft and pricing remaining low.
Challenges in China
China sales faced challenges, particularly in the helium market, despite robust overall growth.
Decreased Contribution from Argentina
The contribution from Argentina significantly decreased in H1 2025 at only plus 0.4% versus 2.1% in H1 2024.
Company Guidance
During the Air Liquide First Half 2025 Results Conference Call, the company provided a comprehensive overview of its financial performance and strategic initiatives. Key metrics highlighted include a 2% sales growth on a comparable basis, a record Gas & Services operating margin improvement of 130 basis points, and efficiencies reaching EUR 287 million, a 23% increase compared to H1 2024. The recurring Return on Capital Employed (ROCE) improved to 11%, and the investment backlog reached a record high of EUR 4.6 billion. The company also emphasized its transformation program, which includes streamlining operations and leveraging data and AI, contributing to margin improvements. Guidance for 2025 was confirmed, with an expectation of a 460 basis point margin improvement by the end of 2026. Additionally, Air Liquide highlighted its strategic investments in Electronics and energy transition projects, with significant projects underway, such as a EUR 250 million investment in Dresden for a semiconductor plant and a EUR 500 million investment in the ELYgator project in the Netherlands.Air Liquide Financial Statement Overview
Summary
Air Liquide exhibits solid financial health across all key financial statements. The company showcases strong profitability, efficient use of leverage, and a stable cash flow generation capacity. These factors collectively position Air Liquide as a financially stable entity capable of sustaining growth and weathering economic challenges.Income Statement
Air Liquide has demonstrated strong profitability with a consistent gross profit margin around 63% and a robust net profit margin of approximately 12.2% in the latest year. Revenue growth has been stable, with minor fluctuations, showing resilience in market conditions. EBIT and EBITDA margins are healthy, indicating effective cost management and operational efficiency.Balance Sheet
The company maintains a solid financial position with a debt-to-equity ratio of 0.46, reflecting a balanced leverage strategy. Return on equity is strong at 12.3%, indicating effective utilization of shareholder equity. The equity ratio of 51.8% suggests a stable asset base predominantly funded by equity, reducing financial risk.Cash Flow
The cash flow statement reveals a consistent ability to generate free cash flow, with a slight decrease in the most recent year but still maintaining a positive trajectory. The operating cash flow to net income ratio is strong, highlighting efficient cash generation relative to net income.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.40B | 27.06B | 27.61B | 29.93B | 23.33B | 20.49B |
| Gross Profit | 17.34B | 17.05B | 16.46B | 16.12B | 13.95B | 13.29B |
| EBITDA | 7.57B | 7.29B | 6.71B | 6.81B | 6.11B | 5.41B |
| Net Income | 3.43B | 3.31B | 3.08B | 2.76B | 2.57B | 2.44B |
Balance Sheet | ||||||
| Total Assets | 49.34B | 51.87B | 48.33B | 49.52B | 46.78B | 41.98B |
| Cash, Cash Equivalents and Short-Term Investments | 1.64B | 1.92B | 1.62B | 1.91B | 2.25B | 1.79B |
| Total Debt | 12.65B | 12.45B | 12.04B | 13.45B | 13.88B | 13.59B |
| Total Liabilities | 24.11B | 24.25B | 23.29B | 24.84B | 24.69B | 22.89B |
| Stockholders Equity | 24.51B | 26.86B | 24.32B | 23.74B | 21.46B | 18.54B |
Cash Flow | ||||||
| Free Cash Flow | 2.75B | 2.80B | 2.87B | 2.31B | 2.45B | 2.33B |
| Operating Cash Flow | 6.45B | 6.32B | 6.26B | 5.59B | 5.37B | 4.96B |
| Investing Cash Flow | -3.76B | -3.58B | -3.08B | -3.24B | -3.35B | -1.95B |
| Financing Cash Flow | -2.83B | -2.81B | -3.48B | -2.78B | -1.82B | -2.43B |
Air Liquide Technical Analysis
Negative
40.38
Price Trends
38.17
Negative
39.57
Negative
39.95
Negative
Market Momentum
-0.40
Positive
26.33
Positive
2.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AIQUY, the sentiment is Negative. The current price of 40.38 is above the 20-day moving average (MA) of 37.32, above the 50-day MA of 38.17, and above the 200-day MA of 39.95, indicating a bearish trend. The MACD of -0.40 indicates Positive momentum. The RSI at 26.33 is Positive, neither overbought nor oversold. The STOCH value of 2.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AIQUY.
Air Liquide Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $106.82B | 28.60 | 13.49% | 1.94% | 2.04% | 13.28% | |
66 Neutral | $76.97B | 39.08 | 21.73% | 1.01% | 1.38% | -2.54% | |
66 Neutral | $205.31B | 29.73 | 18.24% | 1.41% | 1.45% | 13.21% | |
62 Neutral | $18.18B | -23.55 | -0.46% | 1.74% | 2.42% | -196.54% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | $15.33B | -12.67 | -10.44% | 12.78% | -19.65% | -157.13% | |
46 Neutral | $58.15B | ― | -2.41% | 2.92% | -0.52% | -110.29% |
* Basic Materials Sector Average
AIQUY
Air Liquide
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.