Air Liquide stock advances on 2025 revenue and 2024 profit

Air Liquide stock is anchored by EUR 27.06 billion in 2025 revenue, EUR 5.40 billion in EBITDA, and EUR 3.31 billion in recurring net profit in 2024, while the share traded around EUR 178.68 on Euronext Paris as of 27 July 2026. The company name and ISIN FR0000120628 are consistent with the listed French industrial gas group.

EUR 27.06 billion revenue

Air Liquide reported 2025 revenue of EUR 27.06 billion, up 2.6% on a reported basis and up 2.9% on a comparable basis, according to its 2025 annual results. That comparison matters because it shows growth even after portfolio and currency effects are stripped out.

The same 2025 results show EBITDA of EUR 5.40 billion, an increase of 8.7% from 2024, and recurring operating income of EUR 4.06 billion, also up 8.7% year on year. Recurring net profit reached EUR 3.31 billion in 2024, which gives a second profit marker for investors tracking earnings quality across the cycle.

Profit and margin discipline

Air Liquide said its 2025 recurring net income per share rose to EUR 7.36 from EUR 6.96 in 2024, a 5.7% increase. That gain is smaller than EBITDA growth, which suggests the company still had to absorb financing, tax, and other below-operating-line items.

For shareholders, the key point is that the company delivered EUR 4.06 billion of recurring operating income on EUR 27.06 billion of revenue in 2025, which points to a margin structure that remained resilient through the year. The earnings mix is helped by the group s industrial gas model, where long-term contracts and large customer projects tend to smooth revenue patterns.

Stock level near EUR 178.68

The share price reference of EUR 178.68 as of 27 July 2026 places Air Liquide close to a high-value industrial leader rather than a cyclical deep-value name. That market level gives context to the 2025 reporting line, because the stock is already pricing in a record-scale business with steady earnings conversion.

A more useful comparison is the scale of 2025 revenue against 2024 recurring net profit: EUR 27.06 billion of sales versus EUR 3.31 billion of recurring net profit. The gap between those figures shows the operating model is capital intensive, yet still capable of producing multi-billion-euro earnings.

Industrial gases remain central

Air Liquide s core industrial gases business remains the main earnings engine, with oxygen, nitrogen, and hydrogen sales supporting customers in manufacturing, energy, electronics, and healthcare. The company s 2025 results indicate that this mix still supports both revenue growth and profit expansion, which is the main reason the stock retains defensive qualities.

Hydrogen and electronics are the most interesting product lines from an investor perspective because they link current industrial demand with long-duration infrastructure spending. In 2025, those themes mattered more than a single contract headline because they helped underpin group-level growth in EBITDA and recurring operating income.

Euronext Paris closing level

Air Liquide stock was priced at EUR 178.68 as of 27 July 2026 on Euronext Paris. That level gives the latest market frame for the company alongside the 2025 revenue figure of EUR 27.06 billion and the 2025 EBITDA figure of EUR 5.40 billion.

Those three numbers - EUR 178.68, EUR 27.06 billion, and EUR 5.40 billion - define the current setup more clearly than any generic description of the business. They show a stock supported by scale, earnings power, and a long-established industrial franchise.

Industrial gases and hydrogen

Air Liquide s product range spans oxygen, nitrogen, argon, carbon dioxide, hydrogen, and specialty molecules for manufacturing and healthcare users. Hydrogen is the strategic line to watch, because it links the group s established gas infrastructure with low-carbon energy demand and industrial decarbonization projects.

The company has also built a healthcare presence that adds more stability than a pure industrial exposure would offer. That diversification helps explain why revenue growth, EBITDA growth, and recurring net profit can all move together even in a mixed macro backdrop.

Market level and earnings base

Air Liquide stock trades on Euronext Paris at EUR 178.68 as of 27 July 2026, while the latest full-year framework shows EUR 27.06 billion in 2025 revenue, EUR 5.40 billion in EBITDA, and EUR 4.06 billion in recurring operating income. The 2024 recurring net profit figure of EUR 3.31 billion adds a profit reference point that keeps the stock story grounded in reported numbers rather than sentiment.

Those figures point to a company whose market valuation is tied to durable cash generation and an asset-heavy operating model. For readers following the share, the more revealing question is whether future project wins and industrial gas volumes can keep converting revenue into profit at a similar pace.