Air Liquide SA

AI: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€432.00	Pchv	Sqyhmtqzk

Air Liquide Earnings: Acceleration in Efficiencies Drives Solid Margin Expansion

Krzysztof Smalec

Jul 26, 2024

Wide-moat-rated Air Liquide increased its first-half comparable revenue by 2.6% year over year, though that included a 2.1% contribution due to the impact of hyperinflation in Argentina. We’ve raised our fair value estimate to EUR 169 per share from EUR 168, mostly due to time value of money since our last update.

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