Air Liquide’s €6.10 EPS Miss, €26.94B Revenue and €3.518B Profit
Air Liquide reported 2025 EPS of €6.10, missing the €6.43 consensus, and revenue of €26.94 billion, below estimates; net profit rose to €3.518 billion with 2% comparable sales growth in gas services. Shares trade at P/E 28.43, P/S 3.56, EV/S 3.97 and EV/OCF 16.75, reflecting premium valuation.
1. Earnings and Revenue Performance
For the full year 2025, Air Liquide reported EPS of €6.10, falling short of the €6.43 consensus, and generated €26.94 billion in revenue, €60 million below forecasts. The slight revenue underperformance reflects mixed demand in industrial and healthcare gas markets.
2. Profit Growth and Operating Income
Net profit climbed to €3.518 billion, supported by 2% comparable sales growth in gas services. Recurring operating income reached €5.58 billion, exceeding the €5.56 billion estimate through improved efficiencies and pricing in the Industrial Merchant division.
3. Valuation and Balance Sheet Metrics
Shares trade at a P/E of 28.43, P/S of 3.56, EV/S of 3.97 and EV/OCF of 16.75, signifying a premium valuation relative to peers. The company maintains an earnings yield of 3.52%, debt-to-equity of 0.50 and a current ratio of 0.84.