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Air Liquide SA - Stock Quote AI

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Morningstar's Air Liquide SA Stock Analysis

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Economic Moat

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Capital Allocation

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Air Liquide Aims to Triple Its Hydrogen Sales by 2035

Business Strategy and Outlook

| Krzysztof Smalec, CFA |

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 relatively small 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.

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Air Liquide SA's Company Profile

Business Description

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 23.3 billion of revenue in 2021, serving a wide range of industries, including chemicals, energy, healthcare, food and beverage, and electronics. The healthcare division serves around 1.8 million patients and 15,000 hospitals and clinics annually. Air Liquide employs approximately 65,000 people.

Contact
75, quai d'Orsay
Paris, 75007, France
T +33 140625555
Sector Basic Materials
Industry Specialty Chemicals
Most Recent Earnings
Fiscal Year End Dec 31, 2022
Stock Type
Employees 66,400