AIR LIQUIDE SA (AI.PA) Stock Fundamental Analysis

Europe • Euronext Paris • EPA:AI • FR0000120073

167.74 EUR
-0.06 (-0.04%)
Last: Feb 6, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

Overall AI gets a fundamental rating of 6 out of 10. We evaluated AI against 68 industry peers in the Chemicals industry. While AI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. While showing a medium growth rate, AI is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • In the past year AI was profitable.
  • AI had a positive operating cash flow in the past year.
  • AI had positive earnings in each of the past 5 years.
  • In the past 5 years AI always reported a positive cash flow from operatings.
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

  • AI has a better Return On Assets (6.70%) than 77.94% of its industry peers.
  • Looking at the Return On Equity, with a value of 13.49%, AI is in the better half of the industry, outperforming 77.94% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 9.87%, AI belongs to the top of the industry, outperforming 85.29% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for AI is above the industry average of 6.72%.
  • The 3 year average ROIC (9.47%) for AI is below the current ROIC(9.87%), indicating increased profibility in the last year.
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 better Profit Margin (12.22%) than 91.18% of its industry peers.
  • In the last couple of years the Profit Margin of AI has grown nicely.
  • AI has a Operating Margin of 19.93%. This is amongst the best in the industry. AI outperforms 94.12% of its industry peers.
  • AI's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 63.01%, AI belongs to the top of the industry, outperforming 92.65% of the companies in the same industry.
  • In the last couple of years the Gross Margin of AI has remained more or less at the same level.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

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.
  • The number of shares outstanding for AI remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, AI has more shares outstanding
  • 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 76.47% 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.
  • Looking at the Debt to FCF ratio, with a value of 4.60, AI belongs to the top of the industry, outperforming 80.88% 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.
  • AI has a Debt to Equity ratio (0.47) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF 4.6
Altman-Z 3.77
ROIC/WACC1.32
WACC7.47%
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: 82.35% 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.
  • AI has a Quick ratio of 0.61. This is amonst the worse of the industry: AI underperforms 82.35% of its industry peers.
  • AI does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
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

  • AI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.10%, which is quite good.
  • The Earnings Per Share has been growing by 11.55% on average over the past years. This is quite good.
  • Looking at the last year, AI shows a decrease in Revenue. The Revenue has decreased by -1.99% in the last year.
  • The Revenue has been growing slightly by 4.30% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 10.14% on average over the next years. This is quite good.
  • AI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.85% yearly.
EPS Next Y3.85%
EPS Next 2Y7.33%
EPS Next 3Y8.28%
EPS Next 5Y10.14%
Revenue Next Year0.45%
Revenue Next 2Y2.29%
Revenue Next 3Y3.29%
Revenue Next 5Y3.85%

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

  • Based on the Price/Earnings ratio of 26.75, the valuation of AI can be described as expensive.
  • AI's Price/Earnings ratio is in line with the industry average.
  • The average S&P500 Price/Earnings ratio is at 27.92. AI is around the same levels.
  • A Price/Forward Earnings ratio of 22.65 indicates a rather expensive valuation of AI.
  • AI's Price/Forward Earnings is on the same level as the industry average.
  • AI's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.78.
Industry RankSector Rank
PE 26.75
Fwd PE 22.65
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AI is on the same level as its industry peers.
  • AI's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 35.3
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.
  • AI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)6.95
PEG (5Y)2.32
EPS Next 2Y7.33%
EPS Next 3Y8.28%

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

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.09%, AI has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.28, AI has a dividend in line with its industry peers.
  • AI's Dividend Yield is comparable with the S&P500 average which is at 1.83.
Industry RankSector Rank
Dividend Yield 2.09%

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 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 (2/6/2026, 7:00:00 PM)

167.74

-0.06 (-0.04%)

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 Cap97.04B
Revenue(TTM)27.06B
Net Income(TTM)3.31B
Analysts81.29
Price Target201.38 (20.05%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.09%
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)-0.5%
PT rev (3m)-0.05%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.74%
EPS NY rev (3m)-1.26%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.22%
Valuation
Industry RankSector Rank
PE 26.75
Fwd PE 22.65
P/S 3.59
P/FCF 35.3
P/OCF 15.04
P/B 3.96
P/tB 10.61
EV/EBITDA 13.35
EPS(TTM)6.27
EY3.74%
EPS(NY)7.41
Fwd EY4.42%
FCF(TTM)4.75
FCFY2.83%
OCF(TTM)11.16
OCFY6.65%
SpS46.77
BVpS42.37
TBVpS15.81
PEG (NY)6.95
PEG (5Y)2.32
Graham Number77.32
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
WACC7.47%
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 5Y10.14%
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 5Y3.85%
EBIT growth 1Y6.38%
EBIT growth 3Y9.02%
EBIT growth 5Y7.28%
EBIT Next Year55.06%
EBIT Next 3Y21.81%
EBIT Next 5Y15.89%
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 6 / 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 6 / 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.