Air LiquideXSWX:AI1 98 Return-on-Tangible-Asset is 9.72% as of Dec. 2025, which is 12% above its 10-year median of 8.65. 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 1,618 Chemicals companies, Air Liquide ranks better than 86.46% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Air Liquide's annualizedNet Income for the quarter that ended in Dec. 2025 was CHF3,204 Mil. Air Liquide's average total tangible assets for the quarter that ended in Dec. 2025 was CHF32,973 Mil. Therefore, Air Liquide's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2025 was 9.72%.
The historical rank and industry rank for Air Liquide's Return-on-Tangible-Asset or its related term are showing as below:
XSWX:AI1'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 7.27 Med: 8.65 Max: 9.99
Current: 9.99
During the past 13 years, Air Liquide's highest Return-on-Tangible-Asset was 9.99%. The lowest was 7.27%. And the median was 8.65%.
XSWX:AI1's Return-on-Tangible-Asset is ranked better than 86.46% of 1618
companies
in the Chemicals industry
Industry Median: 3.045
vs XSWX:AI1: 9.99
Air Liquide (XSWX:AI1) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Air Liquide Return-on-Tangible-Asset Related Terms
Air Liquide Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Air Liquide's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Specialty Chemicals subindustry, Air Liquide's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Liquide's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Air Liquide's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Dec. 2025) net income data.
What does a Return-on-Tangible-Asset of 9.72% mean?
Air Liquide (XSWX:AI1) has a Return-on-Tangible-Asset of 9.72% as of Dec. 2025. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Air Liquide and its competitors. This is 12% above median its historical median of 8.65. Over the past decade, Air Liquide's Return-on-Tangible-Asset has ranged from 7.27 to 9.99. According to the industry distribution chart, Air Liquide ranks #219 out of 1618 companies in the Chemicals industry, placing it in the top 13.5%.
Is Air Liquide's Return-on-Tangible-Asset too high?
Air Liquide's current Return-on-Tangible-Asset of 9.72% is 12% above median its 10-year median of 8.65. Over the past 10 years, this metric has ranged from a low of 7.27 to a high of 9.99. The Chemicals industry median Return-on-Tangible-Asset is 3.05. Air Liquide's value of 9.72% is 219.2% above this industry median. Based on the distribution chart, Air Liquide ranks #219 out of 1618 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 Return-on-Tangible-Asset compare to LIN and SHW?
According to the Chemicals industry distribution chart, Air Liquide ranks #219 out of 1618 companies for Return-on-Tangible-Asset. This places Air Liquide in the top 14% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.05. Air Liquide's value of 9.72% is 219.2% above this benchmark. Historically, Air Liquide's own Return-on-Tangible-Asset has ranged from 7.27 to 9.99 over the past decade. While the company's 10-year median is 8.65 vs. the industry median of 3.05, 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 Return-on-Tangible-Asset for a Chemicals company?
The median Return-on-Tangible-Asset among Chemicals companies is 3.05, based on 1,618 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Air Liquide's current Return-on-Tangible-Asset of 9.72% is 219.2% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Air Liquide and its competitors. For the Chemicals industry, the median Return-on-Tangible-Asset is 3.05 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Liquide's current Return-on-Tangible-Asset is 9.72%, which is 12% above median its own 10-year median of 8.65. 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 Return-on-Tangible-Asset of 9.72%. 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 Return-on-Tangible-Asset is 9.72%, which is 12% above median its 10-year median of 8.65 and 219.2% above the Chemicals industry median of 3.05. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Air Liquide (XSWX:AI1), the current Return-on-Tangible-Asset is 9.72% 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:
Return-on-Tangible-Asset: 9.72% (12% above median its 10-year median of 8.65)
GF Value™: CHF140.88 vs. price of CHF157.66 (11.9% above fair value)
Industry Position: 219.2% above the Chemicals median (#219 of 1618)
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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