AIR LIQUIDE SA (AI.PA) Fundamental Analysis & Valuation

EPA:AI • FR0000120073

167.3 EUR
-3 (-1.76%)
Last: Mar 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This AI.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

AI gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 67 industry peers in the Chemicals industry. AI has an excellent profitability rating, but there are some minor concerns on its financial health. AI is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

8

1. AI.PA Profitability Analysis

1.1 Basic Checks

  • In the past year AI was profitable.
  • In the past year AI had a positive cash flow from operations.
  • AI had positive earnings in each of the past 5 years.
  • 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 2025 2B 4B 6B

1.2 Ratios

  • The Return On Assets of AI (6.78%) is better than 77.61% of its industry peers.
  • Looking at the Return On Equity, with a value of 13.42%, AI is in the better half of the industry, outperforming 71.64% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 9.75%, AI belongs to the top of the industry, outperforming 82.09% of the companies in the same industry.
Industry RankSector Rank
ROA 6.78%
ROE 13.42%
ROIC 9.75%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
AI.PA Yearly ROA, ROE, ROICAI.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • Looking at the Profit Margin, with a value of 13.06%, AI belongs to the top of the industry, outperforming 92.54% of the companies in the same industry.
  • AI's Profit Margin has improved in the last couple of years.
  • AI has a Operating Margin of 20.72%. This is amongst the best in the industry. AI outperforms 92.54% of its industry peers.
  • AI's Operating Margin has improved in the last couple of years.
  • With an excellent Gross Margin value of 64.18%, AI belongs to the best of the industry, outperforming 92.54% of the companies in the same industry.
  • AI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 20.72%
PM (TTM) 13.06%
GM 64.18%
OM growth 3Y8.45%
OM growth 5Y2.29%
PM growth 3Y12.32%
PM growth 5Y1.9%
GM growth 3Y6.02%
GM growth 5Y-0.21%
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 2025 20 40 60

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4

2. AI.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so AI is still creating some value.
  • There is no outstanding debt for AI. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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 3.73. This indicates that AI is financially healthy and has little risk of bankruptcy at the moment.
  • AI's Altman-Z score of 3.73 is fine compared to the rest of the industry. AI outperforms 76.12% of its industry peers.
  • AI has a debt to FCF ratio of 5.10. This is a neutral value as AI would need 5.10 years to pay back of all of its debts.
  • AI has a better Debt to FCF ratio (5.10) than 65.67% of its industry peers.
  • AI has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
  • The Debt to Equity ratio of AI (0.42) is comparable to the rest of the industry.
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 5.1
Altman-Z 3.73
ROIC/WACC1.24
WACC7.85%
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 2025 5B 10B 15B 20B 25B

2.3 Liquidity

  • AI has a Current Ratio of 1.14. This is a normal value and indicates that AI is financially healthy and should not expect problems in meeting its short term obligations.
  • With a Current ratio value of 1.14, AI is not doing good in the industry: 80.60% of the companies in the same industry are doing better.
  • AI has a Quick Ratio of 1.14. This is a bad value and indicates that AI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AI has a Quick ratio of 0.90. This is in the lower half of the industry: AI underperforms 65.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.14
Quick Ratio 0.9
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. AI.PA Growth Analysis

3.1 Past

  • AI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -0.78%.
  • AI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.39% yearly.
  • AI shows a decrease in Revenue. In the last year, the revenue decreased by -0.43%.
  • AI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.63% yearly.
EPS 1Y (TTM)-0.78%
EPS 3Y9.95%
EPS 5Y8.39%
EPS Q2Q%3.49%
Revenue 1Y (TTM)-0.43%
Revenue growth 3Y-3.45%
Revenue growth 5Y5.63%
Sales Q2Q%-3.73%

3.2 Future

  • Based on estimates for the next years, AI will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.19% on average per year.
  • Based on estimates for the next years, AI will show a small growth in Revenue. The Revenue will grow by 4.80% on average per year.
EPS Next Y15.62%
EPS Next 2Y12.9%
EPS Next 3Y11.98%
EPS Next 5Y11.19%
Revenue Next Year3.69%
Revenue Next 2Y4.46%
Revenue Next 3Y4.55%
Revenue Next 5Y4.8%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better 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. AI.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 26.22, the valuation of AI can be described as expensive.
  • AI's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.29. AI is around the same levels.
  • With a Price/Forward Earnings ratio of 22.68, AI is valued on the expensive side.
  • AI's Price/Forward Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 24.60. AI is around the same levels.
Industry RankSector Rank
PE 26.22
Fwd PE 22.68
AI.PA Price Earnings VS Forward Price EarningsAI.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as AI.
  • 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 36.23
EV/EBITDA 13.09
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

  • AI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of AI may justify a higher PE ratio.
PEG (NY)1.68
PEG (5Y)3.13
EPS Next 2Y12.9%
EPS Next 3Y11.98%

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

4

5. AI.PA Dividend Analysis

5.1 Amount

  • AI has a Yearly Dividend Yield of 2.17%. Purely for dividend investing, there may be better candidates out there.
  • AI's Dividend Yield is comparable with the industry average which is at 2.29.
  • AI's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.17%

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

  • 55.57% of the earnings are spent on dividend by AI. This is a bit on the high side, but may be sustainable.
  • AI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP55.57%
EPS Next 2Y12.9%
EPS Next 3Y11.98%
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 2025 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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AI.PA Fundamentals: All Metrics, Ratios and Statistics

AIR LIQUIDE SA

EPA:AI (3/6/2026, 7:00:00 PM)

167.3

-3 (-1.76%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-20
Earnings (Next)04-22
Inst Owners26.3%
Inst Owner ChangeN/A
Ins Owners0.14%
Ins Owner ChangeN/A
Market Cap96.92B
Revenue(TTM)26.94B
Net Income(TTM)3.52B
Analysts81.88
Price Target200.36 (19.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.17%
Yearly Dividend2.98
Dividend Growth(5Y)5.86%
DP55.57%
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)0.12%
PT rev (3m)-0.96%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.4%
EPS NY rev (3m)-2.24%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.97%
Revenue NY rev (3m)-1.08%
Valuation
Industry RankSector Rank
PE 26.22
Fwd PE 22.68
P/S 3.6
P/FCF 36.23
P/OCF 14.87
P/B 3.7
P/tB 8.95
EV/EBITDA 13.09
EPS(TTM)6.38
EY3.81%
EPS(NY)7.38
Fwd EY4.41%
FCF(TTM)4.62
FCFY2.76%
OCF(TTM)11.25
OCFY6.73%
SpS46.51
BVpS45.25
TBVpS18.69
PEG (NY)1.68
PEG (5Y)3.13
Graham Number80.6
Profitability
Industry RankSector Rank
ROA 6.78%
ROE 13.42%
ROCE 12.93%
ROIC 9.75%
ROICexc 10.74%
ROICexgc 17.68%
OM 20.72%
PM (TTM) 13.06%
GM 64.18%
FCFM 9.93%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y8.45%
OM growth 5Y2.29%
PM growth 3Y12.32%
PM growth 5Y1.9%
GM growth 3Y6.02%
GM growth 5Y-0.21%
F-Score6
Asset Turnover0.52
Health
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 5.1
Debt/EBITDA 1.36
Cap/Depr 149.93%
Cap/Sales 14.27%
Interest Coverage 24.48
Cash Conversion 80.03%
Profit Quality 76.04%
Current Ratio 1.14
Quick Ratio 0.9
Altman-Z 3.73
F-Score6
WACC7.85%
ROIC/WACC1.24
Cap/Depr(3y)142.46%
Cap/Depr(5y)138.87%
Cap/Sales(3y)13.2%
Cap/Sales(5y)12.6%
Profit Quality(3y)84.62%
Profit Quality(5y)89.8%
High Growth Momentum
Growth
EPS 1Y (TTM)-0.78%
EPS 3Y9.95%
EPS 5Y8.39%
EPS Q2Q%3.49%
EPS Next Y15.62%
EPS Next 2Y12.9%
EPS Next 3Y11.98%
EPS Next 5Y11.19%
Revenue 1Y (TTM)-0.43%
Revenue growth 3Y-3.45%
Revenue growth 5Y5.63%
Sales Q2Q%-3.73%
Revenue Next Year3.69%
Revenue Next 2Y4.46%
Revenue Next 3Y4.55%
Revenue Next 5Y4.8%
EBIT growth 1Y3.53%
EBIT growth 3Y4.71%
EBIT growth 5Y8.05%
EBIT Next Year57.89%
EBIT Next 3Y22.27%
EBIT Next 5Y16.6%
FCF growth 1Y-4.37%
FCF growth 3Y1.78%
FCF growth 5Y0.76%
OCF growth 1Y3.1%
OCF growth 3Y3.91%
OCF growth 5Y4.6%

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 8 / 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 15.62% in the next year.