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

EPA:AI • FR0000120073

166.12 EUR
+0.74 (+0.45%)
Last: Mar 10, 2026, 01:18 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. While AI has a great profitability rating, 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

8

1. AI.PA Profitability Analysis

1.1 Basic Checks

  • AI had positive earnings in the past year.
  • In the past year AI had a positive cash flow from operations.
  • Each year in the past 5 years AI has been profitable.
  • AI had a positive operating cash flow in each of the past 5 years.
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.
  • The Return On Equity of AI (13.42%) is better than 71.64% of its industry peers.
  • AI's Return On Invested Capital of 9.75% is amongst the best of the industry. AI outperforms 82.09% of its industry peers.
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.
  • In the last couple of years the Profit Margin of AI has grown nicely.
  • Looking at the Operating Margin, with a value of 20.72%, AI belongs to the top of the industry, outperforming 92.54% of the companies in the same industry.
  • AI's Operating Margin has improved in the last couple of years.
  • AI's Gross Margin of 64.18% is amongst the best of the industry. AI outperforms 92.54% of its industry peers.
  • In the last couple of years the Gross Margin of AI has remained more or less at the same level.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. AI.PA Health Analysis

2.1 Basic Checks

  • AI has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is 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 3.71. This indicates that AI is financially healthy and has little risk of bankruptcy at the moment.
  • With a decent Altman-Z score value of 3.71, AI is doing good in the industry, outperforming 76.12% of the companies in the same industry.
  • The Debt to FCF ratio of AI is 5.10, which is a neutral value as it means it would take AI, 5.10 years of fcf income to pay off 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.
  • With a Debt to Equity ratio value of 0.42, AI perfoms like the industry average, outperforming 52.24% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.42
Debt/FCF 5.1
Altman-Z 3.71
ROIC/WACC1.24
WACC7.84%
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.
  • The Current ratio of AI (1.14) is worse than 80.60% of its industry peers.
  • 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.
  • Looking at the Quick ratio, with a value of 0.90, AI is doing worse than 65.67% of the companies in the same industry.
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

  • The earnings per share for AI have decreased by -0.78% in the last year.
  • AI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.39% yearly.
  • Looking at the last year, AI shows a decrease in Revenue. The Revenue has decreased by -0.43% in the last year.
  • The Revenue has been growing slightly by 5.63% on average over the past years.
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

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • 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 26.04, the valuation of AI can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of AI is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 26.45, AI is valued at the same level.
  • A Price/Forward Earnings ratio of 22.52 indicates a rather expensive valuation of AI.
  • The rest of the industry has a similar Price/Forward Earnings ratio as AI.
  • The average S&P500 Price/Forward Earnings ratio is at 24.65. AI is around the same levels.
Industry RankSector Rank
PE 26.04
Fwd PE 22.52
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

  • 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 is on the same level as the industry average.
Industry RankSector Rank
P/FCF 35.97
EV/EBITDA 12.95
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 PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • AI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.67
PEG (5Y)3.1
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.
  • Compared to an average S&P500 Dividend Yield of 1.82, AI has a dividend comparable with the average S&P500 company.
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.
  • The dividend of AI is growing, but earnings are growing more, so the dividend growth is 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 (3/10/2026, 1:18:20 PM)

166.12

+0.74 (+0.45%)

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 Cap96.23B
Revenue(TTM)26.94B
Net Income(TTM)3.52B
Analysts81.88
Price Target200.36 (20.61%)
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 26.04
Fwd PE 22.52
P/S 3.57
P/FCF 35.97
P/OCF 14.76
P/B 3.67
P/tB 8.89
EV/EBITDA 12.95
EPS(TTM)6.38
EY3.84%
EPS(NY)7.38
Fwd EY4.44%
FCF(TTM)4.62
FCFY2.78%
OCF(TTM)11.25
OCFY6.77%
SpS46.51
BVpS45.25
TBVpS18.69
PEG (NY)1.67
PEG (5Y)3.1
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 3.71
F-Score6
WACC7.84%
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.