Air Liquide (FR:AI)
:AI
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Air Liquide
(AI)
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Rating:70Outperform
Price Target:
€202.00
▲(8.58% Upside)
Action:Reiterated
Date:06/08/26
The score is driven primarily by strong and improving profitability and generally healthy balance sheet/cash generation, supported by positive technical trend indicators. The main offset is a relatively expensive valuation (P/E ~30), alongside softer recent revenue and free cash flow momentum.
Positive Factors
Margin expansion
Rising net margins and steadily higher EBIT/EBITDA indicate durable operating leverage and better cost control. Improved profitability supports sustainable cash generation, buffers cyclical revenue weakness, and increases capacity to fund investments or dividends over the medium term.
Negative Factors
Soft revenue trend
Three consecutive years of slight revenue declines suggest organic volumes are under pressure and growth has relied on pricing or mix. Persistent top‑line softness limits scalable earnings growth and raises reliance on efficiency gains to sustain margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin expansion
Rising net margins and steadily higher EBIT/EBITDA indicate durable operating leverage and better cost control. Improved profitability supports sustainable cash generation, buffers cyclical revenue weakness, and increases capacity to fund investments or dividends over the medium term.
Read all positive factors
Air Liquide (AI) vs. iShares MSCI France ETF (EWQ)
Market Cap
€106.44B
Dividend Yield2.06%
Average Volume (3M)593.22K
Price to Earnings (P/E)27.4
Beta (1Y)0.73
Revenue Growth-0.43%
EPS Growth6.33%
CountryFR
Employees64,124
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)6.10
Shares Outstanding638,160,400
10 Day Avg. Volume676,599
30 Day Avg. Volume593,219
Financial Highlights & Ratios
PEG Ratio3.81
Price to Book (P/B)3.21
Price to Sales (P/S)3.12
P/FCF Ratio33.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€180.24Price Target Upside-3.12% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)6.46
Revenue Forecast (FY)€28.15B
Air Liquide Business Overview & Revenue Model
Company Description
L'Air Liquide S.A. is a global entity offering crucial gases, cutting-edge technologies, and a variety of services, primarily serving industrial and healthcare sectors across Europe, the Americas, Asia Pacific, the Middle East, and Africa. The com...
How the Company Makes Money
Air Liquide primarily makes money by supplying industrial and medical gases under long-term and short-term contracts, using several delivery models that map to distinct revenue streams. (1) Large Industries (often called pipeline/merchant bulk): A...
Air Liquide Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
69
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.94B | 27.06B | 27.61B | 29.93B | 23.33B |
| Gross Profit | 9.64B | 17.05B | 16.46B | 16.12B | 13.95B |
| EBITDA | 8.15B | 7.50B | 6.90B | 6.42B | 6.11B |
| Net Income | 3.52B | 3.31B | 3.08B | 2.76B | 2.57B |
Balance Sheet | |||||
| Total Assets | 51.91B | 51.87B | 48.33B | 49.52B | 46.78B |
| Cash, Cash Equivalents and Short-Term Investments | 3.96B | 1.92B | 1.62B | 1.91B | 2.25B |
| Total Debt | 13.60B | 12.45B | 12.11B | 13.45B | 13.96B |
| Total Liabilities | 24.97B | 24.25B | 23.29B | 24.95B | 24.78B |
| Stockholders Equity | 26.21B | 26.86B | 24.32B | 23.74B | 21.46B |
Cash Flow | |||||
| Free Cash Flow | 2.51B | 2.80B | 2.87B | 2.31B | 2.45B |
| Operating Cash Flow | 6.35B | 6.32B | 6.26B | 5.59B | 5.37B |
| Investing Cash Flow | -3.79B | -3.58B | -3.08B | -3.24B | -3.35B |
| Financing Cash Flow | -140.30M | -2.81B | -3.48B | -2.78B | -1.82B |
Air Liquide Technical Analysis
Positive
186.04
Price Trends
163.60
Positive
157.59
Positive
153.13
Positive
Market Momentum
1.52
Negative
55.91
Neutral
49.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:AI, the sentiment is Positive. The current price of 186.04 is above the 20-day moving average (MA) of 165.49, above the 50-day MA of 163.60, and above the 200-day MA of 153.13, indicating a bullish trend. The MACD of 1.52 indicates Negative momentum. The RSI at 55.91 is Neutral, neither overbought nor oversold. The STOCH value of 49.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:AI.
Air Liquide Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | €106.44B | 27.41 | 13.87% | 2.06% | -0.43% | 6.33% | |
59 Neutral | €4.36B | 105.51 | 2.27% | 7.05% | -7.46% | -87.36% | |
56 Neutral | €7.49B | 23.10 | 3.14% | ― | 3.69% | 98.88% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | €110.73M | -5.60 | -22.98% | ― | -20.58% | -41.43% | |
44 Neutral | €105.30M | -2.72 | -19.12% | ― | 90.91% | -22.05% |
* General Sector Average
FR:AI
Air Liquide
167.12
8.02
5.04%
FR:ALO
Alstom SA
16.20
-2.23
-12.10%
FR:AKE
Arkema
57.60
1.64
2.93%
FR:EXPL
Societe Explosifs et Produits Chimiques SA
277.00
86.88
45.69%
FR:ALCRB
Carbios SA
6.23
-0.95
-13.23%
FR:ALAFY
AFYREN
2.85
0.05
1.79%
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.