COMPANY PROFILE

Air Liquide

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Supplies industrial gases and services to various industries including medical, chemical and electronic manufacturers

Paris, FranceFounded 1902Health Tech & Medtech

Valuation $135B Market cap · 2026

Revenue $31B Latest reported FY

EBITDA $9.61B Latest reported FY

About Air Liquide

Air Liquide produces and supplies industrial and medical gases — oxygen, nitrogen, hydrogen, argon and specialty gases — to manufacturers, healthcare providers, electronics and energy companies. Founded in 1902 and headquartered in Paris, the group operates in around 60 countries through production plants, pipelines, cylinder networks and on-site supply units. Its Gas & Services business serves industry and healthcare, while its engineering arm designs and builds gas production and separation units, including cryogenic air separation plants and large-scale electrolyzers. The group is a major producer of hydrogen and invests in low-carbon hydrogen projects, including large-scale electrolysis, as part of industrial decarbonization, and supplies gases and services to the semiconductor industry and to space programmes such as Ariane.

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At a glance

Status: Listed
Founded: 1902
Headquarters: Paris, France
Listing: IPO 1988
Employees: 40,224
Open positions: None listed
Dealroom signal: 80.2/100
Industry: Health
Sub-industry: Oil & Gas, Health Platform
Sector: Health Tech & Medtech, Medical & Healthcare, Space Tech, Electrolysis, Hydrogen Production, EIT InnoEnergy, European Battery Alliance, Horizon Europe
Technology: Hardware, Deep Tech
Business model: Manufacturing
Client focus: b2b
Investment activity: 25 companies, latest Nov 2025
Capital deployed: $660M
Preferred round: ACQUISITION
Links: Website LinkedIn X

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Funding history

10 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
POST IPO EQUITY✓Other financing	Aug 2026	$0	—	Elliott Management	↗
POST IPO DEBT✓Debt	Apr 2026	$550M	—	Undisclosed	↗

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Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

Year	Revenue	Growth	EBITDA	Margin	Profit	Margin
2026	$31B	+4.4%	$9.6B	31.1%	$4.3B	14%
2025	$30B	-0.4%	$8.8B	29.7%	$3.9B	13.1%
2024	$30B	-2%	$8.5B	28.6%	$3.6B	12.2%
2023	$30B	-7.8%	$7.9B	26.1%
2022	$33B	+28.3%	$8B	24.4%
2021	$26B	+13.9%	$6.9B	26.8%
2020	$23B	—	$6.5B	28.8%

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Growth signals

Air Liquide website traffic

Latest recorded traffic for Air Liquide is 290K monthly website visits, up 3.6% over the last three months. Air Liquide's team grew 6.3% over the past year.

Latest monthly visits290K 3-month web change+3.6% 1-year team growth+6.3%

Monthly website visitsJan 2016–Oct 2020

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