Air Liquide Income Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	26,940	27,058	27,608	29,934	23,335
Revenue Growth (YoY)	-0.43%	-1.99%	-7.77%	28.28%	13.91%
Cost of Revenue	9,651	10,008	11,147	13,813	9,389
Gross Profit	17,289	17,050	16,461	16,121	13,946
Selling, General & Admin	5,088	5,166	5,100	4,963	4,363
Depreciation & Amortization Expenses	2,564	2,505	2,482	2,466	2,173
Other Operating Expenses	4,358	4,433	4,308	4,401	3,401
Total Operating Expenses	12,010	12,104	11,889	11,830	9,937
Operating Income	5,279	4,946	4,572	4,291	4,010
Total Non-Operating Income (Expense)	-403.8	-419.1	-411.3	-384.9	-402.9
Pretax Income	4,875	4,527	4,160	3,906	3,607
Provision for Income Taxes	1,231	1,087	971.8	1,002	914.8
Net Income	3,518	3,306	3,078	2,759	2,572
Minority Interest in Earnings	126.5	133.9	110.4	145.1	119.7
Net Income to Common	3,518	3,306	3,078	2,759	2,572
Net Income Growth	6.41%	7.41%	11.57%	7.25%	5.63%
Shares Outstanding (Basic)	577	576	574	574	573
Shares Outstanding (Diluted)	577	576	576	576	575
Shares Change (YoY)	0.06%	0.00%	0.02%	0.15%	0.30%
EPS (Basic)	6.10	5.74	5.36	4.80	4.49
EPS (Diluted)	6.10	5.72	5.34	4.79	4.47
EPS Growth	6.64%	7.19%	11.39%	7.11%	5.29%
Shares Outstanding	577.94	576.44	575.47	574.45	573.62
Free Cash Flow	2,675	2,797	2,870	2,537	2,654
Free Cash Flow Growth	-4.37%	-2.53%	13.11%	-4.40%	15.28%
Free Cash Flow Per Share	4.64	4.85	4.98	4.40	4.61
Dividends Per Share	3.700	3.300	3.200	2.682	2.391
Dividend Growth	12.12%	3.13%	19.32%	12.17%	5.20%
Gross Margin	64.18%	63.01%	59.62%	53.86%	59.77%
Operating Margin	19.59%	18.28%	16.56%	14.34%	17.18%
Profit Margin	13.53%	12.71%	11.55%	9.70%	11.54%
FCF Margin	9.93%	10.34%	10.39%	8.48%	11.37%
EBITDA	7,842	7,451	7,054	6,757	6,182
EBITDA Margin	29.11%	27.54%	25.55%	22.57%	26.49%
EBIT	5,279	4,946	4,572	4,291	4,010
EBIT Margin	19.59%	18.28%	16.56%	14.34%	17.18%
Effective Tax Rate	25.24%	24.00%	23.36%	25.66%	25.36%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.