Air Liquide
€170.16Change from previous close: +2.24%Absolute change: +€3.72
At a glance
- Revenue growth
- −0.43%
- 2025 vs 2024
- Net income growth
- +6.41%
- 2025 vs 2024
- Net margin
- 13.1%
- 2024: 12.2%
Financial data
Amounts in millions of EUR; per-share values in EUR; shares in millions.
| Item | Q2 2026 | Q4 2025 | Q2 2025 | Q4 2024 | Q2 2024 | Q4 2023 | Q2 2023 | Q4 2022 | Q2 2022 | Q4 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 1,954 | 3,542 | 2,977 | 3,477 | 2,845 | 3,303 | 2,960 | 3,569 | 2,241 | 3,380 |
| Depreciation and amortization | 1,325 | 1,214 | 1,287 | 1,217 | 1,227 | 1,199 | 1,229 | 1,224 | 1,189 | 1,074 |
| Capital expenditure | -1,828 | -2,007 | -1,836 | -1,869 | -1,656 | -1,680 | -1,714 | -1,699 | -1,574 | -1,478 |
| Investing cash flow | -4,709 | -2,006 | -1,745 | -2,015 | -1,568 | -1,622 | -1,457 | -1,695 | -1,547 | -1,475 |
| Financing cash flow | 925 | 773 | -1,118 | -1,715 | -1,092 | -1,766 | -1,714 | -1,359 | -1,422 | -988 |
| Dividends paid | -2,199 | -4.0 | -1,951 | -3.0 | -1,715 | -2.8 | -1,578 | -2.4 | -1,408 | -2.1 |
| Share repurchases | -163 | -4.0 | — | -56.5 | -174 | — | -82.6 | — | -193 | — |
| Debt issued | 3,585 | 884 | 1,177 | -1,104 | 1,104 | -239 | 239 | -467 | 467 | -875 |
| Debt repaid | -120 | -113 | -120 | -389 | -117 | -1,340 | -116 | -741 | -125 | -140 |
| Effect of exchange rates | -43.8 | -67.1 | 19.9 | -13.4 | -19.0 | -21.8 | -39.8 | -130 | -35.2 | -43.9 |
| Net change in cash | -1,873 | 2,242 | 134 | -267 | 165 | -106 | -251 | 385 | -763 | 873 |
| Free cash flow | 126 | 1,534 | 1,141 | 1,609 | 1,189 | 1,623 | 1,246 | 1,870 | 667 | 1,903 |
| Levered free cash flow | -239 | 482 | 1,022 | 960 | 918 | 1,091 | 671 | 1,340 | 243 | 1,552 |