Air Liquide SA Net Assets

Latest as of December 2025: €26.95 Billion EUR ≈ $31.50 Billion USD

Air Liquide SA net assets. Based on the latest financial reports, Air Liquide SA (AI) has net assets worth €26.95 Billion EUR (≈ $31.50 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (€51.91 Billion ≈ $60.69 Billion USD) and total liabilities (€24.97 Billion ≈ $29.19 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore Air Liquide SA annual equity growth to track the company's year-over-year net asset growth rate.

Key Net Assets Metrics

Metric Value
Current Net Assets €26.95 Billion
% of Total Assets 51.91%
Annual Growth Rate 7.46%
5-Year Change 22.49%
10-Year Change 57.36%
Growth Volatility 7.85

Net Assets of Air Liquide SA (2003–2025)

Net assets of Air Liquide SA from 2003 to 2025. This chart illustrates how Air Liquide SA's net assets have evolved over time, based on quarterly financial data. See Air Liquide SA (AI) balance sheet quality index to measure how much of total assets are equity-financed.

Annual Net Assets for Air Liquide SA (2003–2025)

The table below shows the annual net assets of Air Liquide SA from 2003 to 2025. For live market cap and overall valuation, see AI market cap overview.

Year Net Assets Change
2025-12-31 €26.95 Billion
≈ $31.50 Billion		 -2.44%
2024-12-31 €27.62 Billion
≈ $32.29 Billion		 +10.30%
2023-12-31 €25.04 Billion
≈ $29.28 Billion		 +1.92%
2022-12-31 €24.57 Billion
≈ $28.73 Billion		 +11.70%
2021-12-31 €22.00 Billion
≈ $25.72 Billion		 +15.76%
2020-12-31 €19.00 Billion
≈ $22.22 Billion		 -1.65%
2019-12-31 €19.32 Billion
≈ $22.59 Billion		 +6.13%
2018-12-31 €18.21 Billion
≈ $21.29 Billion		 +8.91%
2017-12-31 €16.72 Billion
≈ $19.55 Billion		 -2.37%
2016-12-31 €17.12 Billion
≈ $20.02 Billion		 +34.09%
2015-12-31 €12.77 Billion
≈ $14.93 Billion		 +7.98%
2014-12-31 €11.83 Billion
≈ $13.83 Billion		 +8.62%
2013-12-31 €10.89 Billion
≈ $12.73 Billion		 +4.25%
2012-12-31 €10.44 Billion
≈ $12.21 Billion		 +4.49%
2011-12-31 €10.00 Billion
≈ $11.69 Billion		 +9.69%
2010-12-31 €9.11 Billion
≈ $10.65 Billion		 +17.55%
2009-12-31 €7.75 Billion
≈ $9.06 Billion		 +10.65%
2008-12-31 €7.01 Billion
≈ $8.19 Billion		 +8.17%
2007-12-31 €6.48 Billion
≈ $7.57 Billion		 -1.38%
2006-12-31 €6.57 Billion
≈ $7.68 Billion		 +5.77%
2005-12-31 €6.21 Billion
≈ $7.26 Billion		 +8.64%
2004-12-31 €5.72 Billion
≈ $6.68 Billion		 +3.18%
2003-12-31 €5.54 Billion
≈ $6.48 Billion		 --

Equity Component Analysis

This analysis shows how different components contribute to Air Liquide SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 405.1% over the analyzed period, indicating profitable operations and earnings retention.

Air Liquide SA Net Assets Breakdown (December 2025)

Air Liquide SA net assets breakdown by equity component as of December 2025.

Component Amount Percentage
Retained Earnings €21.01 Billion 80.17%
Common Stock €3.19 Billion 12.16%
Other Components €2.01 Billion 7.68%
Total Equity €26.21 Billion 100.00%

Air Liquide SA Competitors by Market Cap

The table below lists competitors of Air Liquide SA ranked by their market capitalization.

Company Market Cap
GSK PLC SP. ADR/2 NEW
F:GS70
 $101.34 Billion
McKesson Corporation
NYSE:MCK
 $101.38 Billion
UBS Group AG
SW:UBSG
 $101.41 Billion
CME Group Inc
NASDAQ:CME
 $101.91 Billion
CVS Health Corp
NYSE:CVS
 $101.04 Billion
State Bank of India
NSE:SBIN
 $100.46 Billion
Spotify Technology SA
NYSE:SPOT
 $100.37 Billion
The Bank of New York Mellon Corporation
NYSE:BNY
 $100.07 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Air Liquide SA's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 26,860,000,000 to 26,213,900,000, a change of -646,100,000 (-2.4%).
  • Net income of 3,517,900,000 contributed positively to equity growth.
  • Dividend payments of 1,955,000,000 reduced retained earnings.
  • Share repurchases of 4,000,000 reduced equity.
  • New share issuances of 139,500,000 increased equity.
  • Other comprehensive income increased equity by 432,200,000.
  • Other factors decreased equity by 2,776,700,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income €3.52 Billion +13.42%
Dividends Paid €1.96 Billion -7.46%
Share Repurchases €4.00 Million -0.02%
Share Issuances €139.50 Million +0.53%
Other Comprehensive Income €432.20 Million +1.65%
Other Changes €-2.78 Billion -10.59%
Total Change €- -2.41%

Book Value vs Market Value Analysis

This analysis compares Air Liquide SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 4.17x
  • The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
  • The price-to-book ratio has decreased from 19.10x to 4.17x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2003-12-31 €9.93 €189.72 x
2004-12-31 €10.54 €189.72 x
2005-12-31 €11.41 €189.72 x
2006-12-31 €12.49 €189.72 x
2007-12-31 €12.62 €189.72 x
2008-12-31 €13.88 €189.72 x
2009-12-31 €15.33 €189.72 x
2010-12-31 €17.78 €189.72 x
2011-12-31 €19.41 €189.72 x
2012-12-31 €20.29 €189.72 x
2013-12-31 €21.15 €189.72 x
2014-12-31 €22.88 €189.72 x
2015-12-31 €24.60 €189.72 x
2016-12-31 €33.12 €189.72 x
2017-12-31 €31.50 €189.72 x
2018-12-31 €34.28 €189.72 x
2019-12-31 €36.22 €189.72 x
2020-12-31 €35.55 €189.72 x
2021-12-31 €41.03 €189.72 x
2022-12-31 €45.30 €189.72 x
2023-12-31 €46.57 €189.72 x
2024-12-31 €46.59 €189.72 x
2025-12-31 €45.45 €189.72 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Air Liquide SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 13.42%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 13.06%
  • • Asset Turnover: 0.52x
  • • Equity Multiplier: 1.98x
  • Recent ROE (13.42%) is below the historical average (14.57%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2003 15.39% 9.31% 0.76x 2.17x €273.88 Million
2004 15.71% 8.96% 0.65x 2.68x €307.04 Million
2005 17.82% 9.65% 0.64x 2.88x €441.77 Million
2006 17.06% 9.79% 0.67x 2.59x €443.52 Million
2007 18.49% 9.91% 0.65x 2.89x €537.17 Million
2008 18.55% 9.71% 0.64x 3.01x €586.12 Million
2009 16.95% 10.73% 0.58x 2.72x €526.83 Million
2010 16.38% 10.81% 0.60x 2.53x €567.75 Million
2011 15.73% 10.62% 0.60x 2.47x €559.04 Million
2012 15.58% 10.38% 0.61x 2.45x €569.93 Million
2013 15.44% 10.77% 0.61x 2.36x €577.79 Million
2014 14.43% 10.68% 0.58x 2.32x €511.35 Million
2015 14.16% 11.10% 0.55x 2.33x €515.83 Million
2016 11.01% 10.17% 0.41x 2.64x €169.82 Million
2017 13.48% 10.81% 0.50x 2.51x €567.81 Million
2018 11.88% 10.06% 0.50x 2.36x €335.09 Million
2019 11.88% 10.23% 0.50x 2.31x €354.46 Million
2020 13.13% 11.89% 0.49x 2.26x €580.87 Million
2021 11.98% 11.02% 0.50x 2.18x €425.97 Million
2022 11.62% 9.22% 0.60x 2.09x €385.16 Million
2023 12.66% 11.15% 0.57x 1.99x €645.85 Million
2024 12.31% 12.22% 0.52x 1.93x €620.10 Million
2025 13.42% 13.06% 0.52x 1.98x €896.51 Million

Industry Comparison

This section compares Air Liquide SA's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

  • Industry: Specialty Chemicals
  • Average net assets among peers: $88,378,658
  • Average return on equity (ROE) among peers: -13.85%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Air Liquide SA (AI) €26.95 Billion 15.39% 0.93x $101.06 Billion
Arkema SA (AKE) $228.10 Million 0.00% 20.95x $4.93 Billion
Afyren SAS (ALAFY) $62.95 Million -22.82% 0.07x $99.05 Million
Carbios (ALCRB) $234.31 Million -11.62% 0.29x $98.82 Million
Encres Dubuit SA (ALDUB) $20.69 Million 6.37% 0.27x $6.54 Million
Glob Bioenergi (ALGBE) $10.41 Million -83.18% 0.75x $335.38K
Vinpai SAS (ALVIN) $-453.81K 0.00% 0.00x $13.60 Million
EPC Groupe (EXPL) $101.85 Million 10.06% 1.95x $597.32 Million
Lhyfe SA (LHYFE) $133.58 Million -19.32% 0.29x $106.24 Million
Parx Plastics NV (MLPRX) $3.96 Million -4.14% 0.23x $3.84 Million

About Air Liquide SA

PA:AI France Specialty Chemicals
Market Cap
$128.00 Billion
€109.48 Billion EUR
Market Cap Rank
#247 Global
#10 in France
Share Price
€189.72
Change (1 day)
+1.26%
52-Week Range
€155.68 - €189.72
All Time High
€189.72
Categories
Companies in France Specialty Chemicals
About

L'Air Liquide S.A. provides gases, technologies, and services for the industrial and health sectors in Europe, the Americas, the Asia Pacific, the Middle East, and Africa. It operates in Gas & Services, and Engineering & Construction segments. The Gas & Services segment comprises large industries business, which offers gas and energy solutions including oxygen, nitrogen, argon, hydrogen, and carb… Read more