Air Liquide (XPAR:AI) EBIT : €4,228 Mil (TTM As of Dec. 2023)

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What is Air Liquide EBIT?

Air Liquide's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was €1,808 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was €4,228 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Air Liquide's annualized ROC % for the quarter that ended in Dec. 2023 was 8.66%. Air Liquide's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 15.28%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Air Liquide's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.92%.

Air Liquide EBIT Historical Data

The historical data trend for Air Liquide's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Air Liquide EBIT Chart

Air Liquide Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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3,580.10

3,630.60

3,935.20

3,949.90

4,228.40

Air Liquide Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															2,074.50	1,980.60	1,969.30	2,420.70	1,807.70

Competitive Comparison of Air Liquide's EBIT

For the Specialty Chemicals subindustry, Air Liquide's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Air Liquide's EV-to-EBIT Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Air Liquide's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Air Liquide's EV-to-EBIT falls into.

Air Liquide EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was €4,228 Mil.

Air Liquide (XPAR:AI) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Air Liquide's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	5174.6 * ( 1 - 23.38% )	/	( (47066.4	+	44518.5)	/ 2 )
=	3964.77852	/	45792.45
=	8.66 %

where

	Invested Capital		(Q: Jun. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	48556.2	-	3545.3	-	( 1712.2	-	max(0, 9838.6	-	7783.1	+	1712.2	))
=	47066.4

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	48332.4	-	4942.3	-	( 1478.9	-	max(0, 8846	-	7717.6	+	1478.9	))
=	44518.5

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Air Liquide's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3615.4	/	( ( (23658.3 + max(-53.2, 0))	+	(23652.2 + max(-142.5, 0)) )	/	2 )
=	3615.4	/	( ( 23658.3	+	23652.2 )	/	2 )
=	3615.4	/	23655.25
=	15.28 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2971.9	+	2022.6	+	1076.4)	-	(3545.3	+	0	+	2578.8)
=	-53.2

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2993.7	+	2027.6	+	1217.4)	-	(4942.3	+	0	+	1438.9)
=	-142.5

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Air Liquide's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	4228.4	/	107816.826
	=	3.92 %

Air Liquide EBIT Related Terms

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Air Liquide (XPAR:AI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Air Liquide SA (XPAR:AI) » Definitions » EBIT

Comparable Companies

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AIQUY:USA AIQUF:USA AI N:Mexico AIp:UK 0NWF:UK AIL:Germany AI:Austria

Address

75, Quai d'Orsay, Paris, FRA, 75007

Website

https://www.airliquide.com

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 29.9 billion of revenue in 2022, 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.