Air LiquideXSWX:AI1 98 Operating Margin % is 18.89% as of Dec. 2025, which is 8% above its 10-year median of 17.57. GuruFocus rates XSWX:AI1 with a GF Score™ of 98/100 and a GF Value™ of CHF140.88. The stock has 5 warning signs investors should review. Among 1,584 Chemicals companies, Air Liquide ranks better than 91.16% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Air Liquide's Operating Income for the
six
months ended in Dec. 2025 was CHF2,330 Mil. Air Liquide's Revenue for the
six
months ended in Dec. 2025 was CHF12,334 Mil. Therefore, Air Liquide's Operating Margin % for the quarter that ended in Dec. 2025 was 18.89%.
Good Sign:
Air Liquide SA operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Air Liquide's Operating Margin % or its related term are showing as below:
XSWX:AI1'
s Operating Margin % Range Over the Past 10 Years
Min: 15.44 Med: 17.57 Max: 19.43
Current: 19.43
XSWX:AI1's Operating Margin % is ranked better than 91.16% of 1584
companies
in the Chemicals industry
Industry Median: 6.025
vs XSWX:AI1: 19.43
Air Liquide's 5-Year Average Operating Margin % Growth Rate was 1.60% per year.
Air Liquide's Operating Income for the
six
months ended in Dec. 2025 was CHF2,330 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was CHF4,897 Mil.
Air Liquide (XSWX:AI1) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Air Liquide Operating Margin % Related Terms
Air Liquide Operating Margin % Historical Data
* Premium members only.
The historical data trend for Air Liquide's Operating Margin % 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.
XSWX:AI1 vs LIN, SHW, ECL: Operating Margin % Comparison
For the Specialty Chemicals subindustry, Air Liquide's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Liquide's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Air Liquide's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Air Liquide's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Air Liquide (XSWX:AI1) has a Operating Margin % of 18.89% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Air Liquide and its competitors. This is near median its historical median of 17.57. Over the past decade, Air Liquide's Operating Margin % has ranged from 15.44 to 19.43. According to the industry distribution chart, Air Liquide ranks #140 out of 1584 companies in the Chemicals industry, placing it in the top 8.8%.
Is Air Liquide's Operating Margin % too high?
Air Liquide's current Operating Margin % of 18.89% is near median its 10-year median of 17.57. Over the past 10 years, this metric has ranged from a low of 15.44 to a high of 19.43. The Chemicals industry median Operating Margin % is 6.03. Air Liquide's value of 18.89% is 213.5% above this industry median. Based on the distribution chart, Air Liquide ranks #140 out of 1584 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Air Liquide has a GF Score™ of 98/100, reflecting its overall financial health beyond just this single metric.
How does Air Liquide's Operating Margin % compare to LIN and SHW?
According to the Chemicals industry distribution chart, Air Liquide ranks #140 out of 1584 companies for Operating Margin %. This places Air Liquide in the top 9% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 6.03. Air Liquide's value of 18.89% is 213.5% above this benchmark. Historically, Air Liquide's own Operating Margin % has ranged from 15.44 to 19.43 over the past decade. While the company's 10-year median is 17.57 vs. the industry median of 6.03, Air Liquide has consistently been above 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 Operating Margin % for a Chemicals company?
The median Operating Margin % among Chemicals companies is 6.03, based on 1,584 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Air Liquide's current Operating Margin % of 18.89% is 213.5% above 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Air Liquide and its competitors. For the Chemicals industry, the median Operating Margin % is 6.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Liquide's current Operating Margin % is 18.89%, which is near median its own 10-year median of 17.57. 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?
Air Liquide (XSWX:AI1) has a current Operating Margin % of 18.89%. The stock's GF Value™ is CHF140.88, compared to a current price of CHF157.66 — trading 11.9% above its estimated fair value. The current Operating Margin % is 18.89%, which is near median its 10-year median of 17.57 and 213.5% above the Chemicals industry median of 6.03. Air Liquide's overall GF Score™ is 98/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Air Liquide (XSWX:AI1), the current Operating Margin % is 18.89% 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 (XSWX:AI1) Overvalued in 2026?
Based on GuruFocus' analysis, Air Liquide stock appears to be overvalued.
The current stock price of CHF157.66 is trading 11.9% above its estimated GF Value™ of CHF140.88.
Key valuation signals for XSWX:AI1:
Operating Margin %: 18.89% (near median its 10-year median of 17.57)
GF Value™: CHF140.88 vs. price of CHF157.66 (11.9% above fair value)
Industry Position: 213.5% above the Chemicals median (#140 of 1584)
No single metric tells the full story. See the XSWX:AI1 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.
98GF Score
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