Air LiquideWBO:AI +0.30%85 Debt-to-EBITDA is 1.88 as of Dec. 2025, which is 19% below its 10-year median of 2.31. GuruFocus rates WBO:AI with a GF Score™ of 85/100 and a GF Value™ of €149.37 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,232 Chemicals companies, Air Liquide ranks better than 55.03% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Air Liquide's Debt-to-EBITDA or its related term are showing as below:
WBO:AI'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.74 Med: 2.31 Max: 3.59
Current: 1.81
During the past 13 years, the highest Debt-to-EBITDA Ratio of Air Liquide was 3.59. The lowest was 1.74. And the median was 2.31.
WBO:AI's Debt-to-EBITDA is ranked better than 55.03% of 1232
companies
in the Chemicals industry
Industry Median: 2.16
vs WBO:AI: 1.81
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Air Liquide Debt-to-EBITDA Related Terms
Air Liquide Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Air Liquide's Debt-to-EBITDA 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.
WBO:AI vs LIN, SHW, ECL: Debt-to-EBITDA Comparison
For the Specialty Chemicals subindustry, Air Liquide's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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 Debt-to-EBITDA vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Liquide's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Air Liquide's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is two times the quarterly (Dec. 2025) EBITDA data.
Air Liquide (WBO:AI) has a Debt-to-EBITDA of 1.88 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Air Liquide. This is 19% below median its historical median of 2.31. Over the past decade, Air Liquide's Debt-to-EBITDA has ranged from 1.74 to 3.59. According to the industry distribution chart, Air Liquide ranks #554 out of 1232 companies in the Chemicals industry, placing it in the top 45%.
Is Air Liquide's Debt-to-EBITDA too high?
Air Liquide's current Debt-to-EBITDA of 1.88 is 19% below median its 10-year median of 2.31. Over the past 10 years, this metric has ranged from a low of 1.74 to a high of 3.59. The Chemicals industry median Debt-to-EBITDA is 2.16. Air Liquide's value of 1.88 is 13% below this industry median. Based on the distribution chart, Air Liquide ranks #554 out of 1232 companies in the Chemicals industry, which is above the industry midpoint. Overall, Air Liquide has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Air Liquide's Debt-to-EBITDA compare to LIN and SHW?
According to the Chemicals industry distribution chart, Air Liquide ranks #554 out of 1232 companies for Debt-to-EBITDA. This puts Air Liquide in the upper half of its industry. The industry median Debt-to-EBITDA is 2.16. Air Liquide's value of 1.88 is 13% below this benchmark. Historically, Air Liquide's own Debt-to-EBITDA has ranged from 1.74 to 3.59 over the past decade. While the company's 10-year median is 2.31 vs. the industry median of 2.16, Air Liquide has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Chemicals company?
The median Debt-to-EBITDA among Chemicals companies is 2.16, based on 1,232 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Air Liquide's current Debt-to-EBITDA of 1.88 is 13% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Air Liquide. For the Chemicals industry, the median Debt-to-EBITDA is 2.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Liquide's current Debt-to-EBITDA is 1.88, which is 19% below median its own 10-year median of 2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Liquide stock overvalued right now?
Based on GuruFocus' analysis, Air Liquide (WBO:AI) is currently considered Modestly Overvalued. The stock's GF Value™ is €149.37, compared to a current price of €173.92 — trading 16.4% above its estimated fair value. The current Debt-to-EBITDA is 1.88, which is 19% below median its 10-year median of 2.31 and 13% below the Chemicals industry median of 2.16. Air Liquide's overall GF Score™ is 85/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Air Liquide (WBO:AI), the current Debt-to-EBITDA is 1.88 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Air Liquide (WBO:AI) Overvalued in 2026?
Based on GuruFocus' analysis, Air Liquide stock appears to be overvalued.
The current stock price of €173.92 is trading 16.4% above its estimated GF Value™ of €149.37.
GuruFocus considers Air Liquide to be Modestly Overvalued.
Key valuation signals for WBO:AI:
Debt-to-EBITDA: 1.88 (19% below median its 10-year median of 2.31)
GF Value™: €149.37 vs. price of €173.92 (16.4% above fair value)
Industry Position: 13% below the Chemicals median (#554 of 1232)
No single metric tells the full story. See the WBO:AI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 27.9 billion of revenue in 2025, serving a wide range of industries, including chemicals, energy, healthcare, food and beverage, and electronics. Air Liquide employs approximately 65,000 people.
85GF Score
Get the complete analysis for WBO:AI
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WBO:AI has been successfully added to your 
