AIR LIQUIDE SA (AI.PA) Stock Fundamental Analysis

EPA:AI • FR0000120073

175.56 EUR
+8.04 (+4.8%)
Last: Feb 20, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AI. AI was compared to 66 industry peers in the Chemicals industry. AI has an excellent profitability rating, but there are some minor concerns on its financial health. AI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • AI had positive earnings in the past year.
  • In the past year AI had a positive cash flow from operations.
  • In the past 5 years AI has always been profitable.
  • Each year in the past 5 years AI had a positive operating cash flow.
AI.PA Yearly Net Income VS EBIT VS OCF VS FCFAI.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 6.70%, AI is in the better half of the industry, outperforming 77.27% of the companies in the same industry.
  • AI has a Return On Equity of 13.49%. This is in the better half of the industry: AI outperforms 75.76% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 9.87%, AI belongs to the top of the industry, outperforming 83.33% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for AI is above the industry average of 7.06%.
  • The last Return On Invested Capital (9.87%) for AI is above the 3 year average (9.47%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.7%
ROE 13.49%
ROIC 9.87%
ROA(3y)6.1%
ROA(5y)5.92%
ROE(3y)12.2%
ROE(5y)12.34%
ROIC(3y)9.47%
ROIC(5y)8.98%
AI.PA Yearly ROA, ROE, ROICAI.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • AI has a Profit Margin of 12.22%. This is amongst the best in the industry. AI outperforms 87.88% of its industry peers.
  • AI's Profit Margin has improved in the last couple of years.
  • AI has a better Operating Margin (19.93%) than 92.42% of its industry peers.
  • In the last couple of years the Operating Margin of AI has grown nicely.
  • AI's Gross Margin of 63.01% is amongst the best of the industry. AI outperforms 92.42% of its industry peers.
  • AI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 19.93%
PM (TTM) 12.22%
GM 63.01%
OM growth 3Y3.78%
OM growth 5Y2.86%
PM growth 3Y3.49%
PM growth 5Y3.63%
GM growth 3Y1.78%
GM growth 5Y0.07%
AI.PA Yearly Profit, Operating, Gross MarginsAI.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

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4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AI is creating some value.
  • Compared to 1 year ago, AI has about the same amount of shares outstanding.
  • The number of shares outstanding for AI has been increased compared to 5 years ago.
  • AI has a better debt/assets ratio than last year.
AI.PA Yearly Shares OutstandingAI.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M
AI.PA Yearly Total Debt VS Total AssetsAI.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

  • AI has an Altman-Z score of 3.77. This indicates that AI is financially healthy and has little risk of bankruptcy at the moment.
  • AI has a better Altman-Z score (3.77) than 74.24% of its industry peers.
  • The Debt to FCF ratio of AI is 4.60, which is a neutral value as it means it would take AI, 4.60 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 4.60, AI is doing good in the industry, outperforming 77.27% of the companies in the same industry.
  • AI has a Debt/Equity ratio of 0.47. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of AI (0.47) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF 4.6
Altman-Z 3.77
ROIC/WACC1.32
WACC7.5%
AI.PA Yearly LT Debt VS Equity VS FCFAI.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.3 Liquidity

  • AI has a Current Ratio of 0.84. This is a bad value and indicates that AI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.84, AI is not doing good in the industry: 84.85% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.61 indicates that AI may have some problems paying its short term obligations.
  • The Quick ratio of AI (0.61) is worse than 83.33% of its industry peers.
Industry RankSector Rank
Current Ratio 0.84
Quick Ratio 0.61
AI.PA Yearly Current Assets VS Current LiabilitesAI.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 11.10% over the past year.
  • The Earnings Per Share has been growing by 11.55% on average over the past years. This is quite good.
  • The Revenue has decreased by -1.99% in the past year.
  • Measured over the past years, AI shows a small growth in Revenue. The Revenue has been growing by 4.30% on average per year.
EPS 1Y (TTM)11.1%
EPS 3Y12.6%
EPS 5Y11.55%
EPS Q2Q%-4.88%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y5.06%
Revenue growth 5Y4.3%
Sales Q2Q%2.94%

3.2 Future

  • AI is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 9.72% yearly.
  • The Revenue is expected to grow by 3.83% on average over the next years.
EPS Next Y3.85%
EPS Next 2Y7.33%
EPS Next 3Y8.28%
EPS Next 5Y9.72%
Revenue Next Year0.45%
Revenue Next 2Y2.29%
Revenue Next 3Y3.29%
Revenue Next 5Y3.83%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
AI.PA Yearly Revenue VS EstimatesAI.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 10B 20B 30B
AI.PA Yearly EPS VS EstimatesAI.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8 10

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3

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 28.00, AI can be considered very expensive at the moment.
  • AI's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.99. AI is around the same levels.
  • The Price/Forward Earnings ratio is 23.70, which indicates a rather expensive current valuation of AI.
  • AI's Price/Forward Earnings is on the same level as the industry average.
  • When comparing the Price/Forward Earnings ratio of AI to the average of the S&P500 Index (28.06), we can say AI is valued inline with the index average.
Industry RankSector Rank
PE 28
Fwd PE 23.7
AI.PA Price Earnings VS Forward Price EarningsAI.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • AI's Enterprise Value to EBITDA is on the same level as the industry average.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of AI is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 37
EV/EBITDA 13.35
AI.PA Per share dataAI.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates AI does not grow enough to justify the current Price/Earnings ratio.
  • The excellent profitability rating of AI may justify a higher PE ratio.
PEG (NY)7.27
PEG (5Y)2.43
EPS Next 2Y7.33%
EPS Next 3Y8.28%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • AI has a Yearly Dividend Yield of 1.95%.
  • AI's Dividend Yield is comparable with the industry average which is at 2.13.
  • AI's Dividend Yield is comparable with the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 1.95%

5.2 History

  • The dividend of AI has a limited annual growth rate of 5.86%.
Dividend Growth(5Y)5.86%
Div Incr Years6
Div Non Decr Years6
AI.PA Yearly Dividends per shareAI.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • AI pays out 59.10% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of AI is growing, but earnings are growing more, so the dividend growth is sustainable.
DP59.1%
EPS Next 2Y7.33%
EPS Next 3Y8.28%
AI.PA Yearly Income VS Free CF VS DividendAI.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B
AI.PA Dividend Payout.AI.PA Dividend Payout, showing the Payout Ratio.AI.PA Dividend Payout.PayoutRetained Earnings

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AIR LIQUIDE SA

EPA:AI (2/20/2026, 7:00:00 PM)

175.56

+8.04 (+4.8%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)10-21
Earnings (Next)02-20
Inst Owners27.85%
Inst Owner ChangeN/A
Ins Owners0.14%
Ins Owner ChangeN/A
Market Cap101.72B
Revenue(TTM)27.06B
Net Income(TTM)3.31B
Analysts81.25
Price Target200.11 (13.98%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.95%
Yearly Dividend2.98
Dividend Growth(5Y)5.86%
DP59.1%
Div Incr Years6
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-1.13%
PT rev (3m)-0.68%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.74%
EPS NY rev (3m)-0.81%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.04%
Valuation
Industry RankSector Rank
PE 28
Fwd PE 23.7
P/S 3.76
P/FCF 37
P/OCF 15.76
P/B 4.15
P/tB 11.12
EV/EBITDA 13.35
EPS(TTM)6.27
EY3.57%
EPS(NY)7.41
Fwd EY4.22%
FCF(TTM)4.74
FCFY2.7%
OCF(TTM)11.14
OCFY6.34%
SpS46.7
BVpS42.31
TBVpS15.79
PEG (NY)7.27
PEG (5Y)2.43
Graham Number77.26
Profitability
Industry RankSector Rank
ROA 6.7%
ROE 13.49%
ROCE 13.55%
ROIC 9.87%
ROICexc 10.27%
ROICexgc 16.67%
OM 19.93%
PM (TTM) 12.22%
GM 63.01%
FCFM 10.16%
ROA(3y)6.1%
ROA(5y)5.92%
ROE(3y)12.2%
ROE(5y)12.34%
ROIC(3y)9.47%
ROIC(5y)8.98%
ROICexc(3y)9.91%
ROICexc(5y)9.43%
ROICexgc(3y)16.92%
ROICexgc(5y)16.28%
ROCE(3y)12.5%
ROCE(5y)11.85%
ROICexgc growth 3Y3.94%
ROICexgc growth 5Y3.85%
ROICexc growth 3Y4.91%
ROICexc growth 5Y4.63%
OM growth 3Y3.78%
OM growth 5Y2.86%
PM growth 3Y3.49%
PM growth 5Y3.63%
GM growth 3Y1.78%
GM growth 5Y0.07%
F-Score7
Asset Turnover0.55
Health
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF 4.6
Debt/EBITDA 1.45
Cap/Depr 144.46%
Cap/Sales 13.69%
Interest Coverage 20.73
Cash Conversion 81.12%
Profit Quality 83.14%
Current Ratio 0.84
Quick Ratio 0.61
Altman-Z 3.77
F-Score7
WACC7.5%
ROIC/WACC1.32
Cap/Depr(3y)136.72%
Cap/Depr(5y)133.49%
Cap/Sales(3y)12.08%
Cap/Sales(5y)12.32%
Profit Quality(3y)89.93%
Profit Quality(5y)95.75%
High Growth Momentum
Growth
EPS 1Y (TTM)11.1%
EPS 3Y12.6%
EPS 5Y11.55%
EPS Q2Q%-4.88%
EPS Next Y3.85%
EPS Next 2Y7.33%
EPS Next 3Y8.28%
EPS Next 5Y9.72%
Revenue 1Y (TTM)-1.99%
Revenue growth 3Y5.06%
Revenue growth 5Y4.3%
Sales Q2Q%2.94%
Revenue Next Year0.45%
Revenue Next 2Y2.29%
Revenue Next 3Y3.29%
Revenue Next 5Y3.83%
EBIT growth 1Y6.38%
EBIT growth 3Y9.02%
EBIT growth 5Y7.28%
EBIT Next Year55.06%
EBIT Next 3Y21.81%
EBIT Next 5Y16.24%
FCF growth 1Y-11.8%
FCF growth 3Y1.77%
FCF growth 5Y6.15%
OCF growth 1Y-1.16%
OCF growth 3Y4.31%
OCF growth 5Y6.05%

AIR LIQUIDE SA / AI.PA FAQ

What is the ChartMill fundamental rating of AIR LIQUIDE SA (AI.PA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to AI.PA.


What is the valuation status for AI stock?

ChartMill assigns a valuation rating of 3 / 10 to AIR LIQUIDE SA (AI.PA). This can be considered as Overvalued.


Can you provide the profitability details for AIR LIQUIDE SA?

AIR LIQUIDE SA (AI.PA) has a profitability rating of 9 / 10.


What is the financial health of AIR LIQUIDE SA (AI.PA) stock?

The financial health rating of AIR LIQUIDE SA (AI.PA) is 4 / 10.


What is the earnings growth outlook for AIR LIQUIDE SA?

The Earnings per Share (EPS) of AIR LIQUIDE SA (AI.PA) is expected to grow by 3.85% in the next year.