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Air Liquide SA AI

Morningstar Rating
€164.82 −0.78 (0.47%)
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Company Report

Air Liquide Targets Hydrogen Sales to Triple by 2035

Air Liquide benefits from operating in an industry with a very favorable structure. Despite selling industrial gases, which are essentially commodities, public industrial gas companies have consistently delivered lucrative returns because of their economic moats. Industrial gases typically account for a fraction of customers’ costs but are a vital input to ensure uninterrupted production. As such, customers are often willing to pay a premium and sign long-term contracts to ensure their businesses are running smoothly. Long-term contracts and high switching costs contribute to industrial gas producers’ moats, helping them generate a predictable cash flow stream and lucrative returns.

Price vs Fair Value

AI is trading at a 757% premium.
Price
€165.60
Fair Value
€391.26
Uncertainty
Low
1-Star Price
€877.28
5-Star Price
€353.31
Economic Moat
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Capital Allocation
Vpdxczhzw

Bulls Say, Bears Say

Bulls

Management raised its long-term operating margin target. It now aims to boost operating margin by 320 basis points from 2021 levels by 2025, doubling its previous target of 160 basis points.

Bears

Compared with peers, Air Liquide has a larger exposure to Europe, which has been experiencing slower growth than other regions.

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News

Trading Information

Previous Close Price
€164.48
Day Range
€163.26164.86
52-Week Range
€137.60179.47
Bid/Ask
€164.20 / €164.86
Market Cap
€94.98 Bil
Volume/Avg
549,129 / 605,435

Key Statistics

Price/Earnings (Normalized)
26.44
Price/Sales
3.46
Dividend Yield (Trailing)
1.76%
Dividend Yield (Forward)
1.76%
Total Yield
1.76%

Company Profile

Founded in 1902, Air Liquide is one of the leading industrial gas companies in the world, serving over 3.8 million customers in 78 countries. The company generated approximately EUR 27.6 billion of revenue in 2023, serving a wide range of industries, including chemicals, energy, healthcare, food and beverage, and electronics. Air Liquide employs approximately 65,000 people.
Sector
Basic Materials
Industry
Specialty Chemicals
Stock Style Box
Large Growth
Total Number of Employees
67,800

Competitors

Valuation

Metric
AI
PPG
LIN
Price/Earnings (Normalized)
26.4415.7330.52
Price/Book Value
3.923.765.49
Price/Sales
3.461.646.63
Price/Cash Flow
16.6215.0621.51
Price/Earnings
AI
PPG
LIN

Financial Strength

Metric
AI
PPG
LIN
Quick Ratio
0.510.960.70
Current Ratio
0.871.490.91
Interest Coverage
56.898.6118.95
Quick Ratio
AI
PPG
LIN

Profitability

Metric
AI
PPG
LIN
Return on Assets (Normalized)
6.80%8.66%8.94%
Return on Equity (Normalized)
13.97%24.25%18.03%
Return on Invested Capital (Normalized)
8.86%12.80%12.19%
Return on Assets
AI
PPG
LIN
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