Company Valuation: Air Liquide

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 72,468 69,140 92,004 90,397 92,556 112,897 - -
Change - -4.59% 33.07% -1.75% 2.39% 21.98% - -
Enterprise Value (EV) 1 82,916 79,401 101,225 99,556 100,972 124,924 125,986 126,979
Change - -4.24% 27.49% -1.65% 1.42% 23.72% 0.85% 0.79%
P/E 28.1x 25.1x 29.9x 27.3x 26.3x 28.7x 25.6x 22.9x
PBR 3.92x 2.92x 3.79x 3.36x 3.53x 4.01x 3.89x 3.73x
PEG - 3.82x 2.5x 3.89x 4.19x 2.5x 2.1x 1.9x
Capitalization / Revenue 3.11x 2.31x 3.33x 3.34x 3.44x 4x 3.81x 3.64x
EV / Revenue 3.55x 2.65x 3.67x 3.68x 3.75x 4.42x 4.26x 4.09x
EV / EBITDA 13.1x 10.8x 13.4x 12.6x 12.4x 14.3x 13.3x 12.4x
EV / EBIT 19.9x 16.3x 20x 18.5x 18.1x 20.5x 18.8x 17.4x
EV / FCF 31.2x 31.3x 35.3x 35.6x 37.7x 48.1x 38.2x 34.1x
FCF Yield 3.2% 3.2% 2.83% 2.81% 2.65% 2.08% 2.62% 2.93%
Dividend per Share 2 2.179 2.438 2.645 3 3.364 3.644 3.972 4.288
Rate of return 1.89% 2.23% 1.82% 2.1% 2.31% 2.05% 2.24% 2.42%
EPS 2 4.095 4.364 4.876 5.218 5.545 6.171 6.942 7.762
Distribution rate 53.2% 55.9% 54.2% 57.5% 60.7% 59.1% 57.2% 55.2%
Net sales 1 23,335 29,934 27,608 27,058 26,940 28,232 29,606 31,056
EBITDA 1 6,333 7,328 7,550 7,896 8,145 8,760 9,504 10,258
EBIT 1 4,160 4,862 5,068 5,391 5,582 6,080 6,686 7,308
Net income 1 2,572 2,759 3,078 3,306 3,518 3,940 4,389 4,853
Net Debt 1 10,448 10,261 9,221 9,159 8,416 12,027 13,088 14,082
Reference price 2 115.19 109.42 145.55 142.65 145.69 177.38 177.38 177.38
Nbr of stocks (in thousands) 629,109 631,864 632,098 633,679 635,292 636,471 - -
Announcement Date 2/16/22 A 2/16/23 A 2/20/24 A 2/21/25 A 2/20/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.74x4.42x14.26x2.05% 126B
30.59x6.97x17.89x1.27% 232B
20.16x7.18x31.88x3.67% 75.92B
29.64x3.58x18.53x0.98% 79.28B
92.56x6.79x15.81x2.32% 69.42B
88.37x1.31x9.14x5.88% 37.63B
10.96x1.08x5.87x2.83% 33.17B
16.3x1.88x10.91x2.43% 26.51B
17.16x0.86x5.98x4.15% 24.43B
8.59x2.81x6.43x5.21% 24.25B
Average 34.31x 3.69x 13.67x 3.08% 72.86B
Weighted average by Cap. 35.37x 5.08x 16.56x 2.3%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Air Liquide

Historical PBR trend

Valuation ratios - PBR - Air Liquide

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Air Liquide

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Air Liquide


Year-on-year evolution of the Yield

Valuation ratios - Yield - Air Liquide
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