<div id="readability-page-1"><div><ul> <li>Wondering if L'Air Liquide at around €183 per share is offering fair value today, or if the price is running ahead of what you get for your money?</li> <li>The stock has seen a 15.1% return year to date, a 2.9% move over the last 30 days, a 2.5% decline across the past week, and a 3.2% return over the last year. Recent price action therefore gives a mixed picture of momentum and risk.</li> <li>Recent coverage has focused on L'Air Liquide as a key player in industrial gases and related services, which keeps attention on its role in sectors such as manufacturing, healthcare, and energy. This context helps explain why the market can swiftly reassess the stock when sentiment around these end markets shifts.</li> <li>L'Air Liquide currently has a valuation score of 2 out of 6. The next sections will look at how different valuation methods assess the stock and will point to an even more complete way to think about valuation at the end of the article.</li> </ul> <p>L'Air Liquide scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.</p> <h3>Approach 1: L'Air Liquide Discounted Cash Flow (DCF) Analysis</h3> <p>A Discounted Cash Flow model estimates what a company might be worth by projecting its future cash flows and discounting them back to today, so the resulting value can be compared with the current share price.</p> <p>For L'Air Liquide, the model uses a 2 Stage Free Cash Flow to Equity approach based on cash flow projections in €. The latest twelve month free cash flow stands at about €2.97b. Analyst inputs and subsequent extrapolations extend out to 2035, with projected free cash flow of €5.69b in 2030 and discounted values provided for each year.</p> <p>Aggregating these discounted cash flows gives an estimated intrinsic value of about €226.08 per share under this DCF model. Against a recent share price around €183, this output implies the stock trades at roughly a 19.0% discount to the model's estimate of fair value. This indicates a margin between the current price and the cash flow based valuation.</p> <p><strong>Result: UNDERVALUED</strong></p> <p>Our Discounted Cash Flow (DCF) analysis suggests L'Air Liquide is undervalued by 19.0%. Track this in your watchlist or portfolio, or discover 244 more high quality undervalued stocks.</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/dcf/query-ZGF0ZT0yMDI2LTA0LTMw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/dcf/query-ZGF0ZT0yMDI2LTA0LTMw"/><figcaption>AI Discounted Cash Flow as at Apr 2026</figcaption></figure> <p>Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for L'Air Liquide.</p> <h3>Approach 2: L'Air Liquide Price vs Earnings</h3> <p>For a profitable company, the P/E ratio is a useful shorthand for how much investors are paying for each euro of current earnings, which makes it a practical tool when you want to compare what you pay today with what the business is already earning.</p> <p>What counts as a &#34;normal&#34; P/E depends on how fast earnings are expected to grow and how risky those earnings are. Higher expected growth or perceived resilience can justify a higher multiple, while more uncertainty or weaker profitability can pull a reasonable P/E lower.</p> <p>L'Air Liquide currently trades on a P/E of 30.0x, compared with an average of about 24.3x for the Chemicals industry and a peer group average of 45.0x. Simply Wall St also estimates a proprietary &#34;Fair Ratio&#34; of 25.0x for the stock. This Fair Ratio reflects what investors might typically pay for a company with L'Air Liquide's earnings profile, taking into account factors such as its earnings growth, profit margins, industry, market value and risk characteristics.</p> <p>Because this Fair Ratio embeds company specific drivers rather than relying only on broad peer or industry comparisons, it can offer a more tailored reference point. With the current 30.0x P/E sitting above the 25.0x Fair Ratio, the shares screen as more expensive than this fair value benchmark.</p> <p><strong>Result: OVERVALUED</strong></p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA0LTMw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA0LTMw"/><figcaption>ENXTPA:AI P/E Ratio as at Apr 2026</figcaption></figure> <p>P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 96 top founder-led companies.</p> <h3>Upgrade Your Decision Making: Choose your L'Air Liquide Narrative</h3> <p>Earlier it was mentioned that there is an even better way to understand valuation. Narratives are that tool, letting you link your view of L'Air Liquide's story to a simple forecast and a fair value, then compare that fair value with the current price. This all takes place within the Community page on Simply Wall St, where Narratives are kept current as new earnings or news arrives. One investor might build a Narrative that focuses on the higher analyst fair value around €216.0 based on confidence in electronics, hydrogen and efficiency gains. Another might anchor closer to €168.0, putting more weight on risks around project execution, debt and demand. You can quickly see how your own view fits along this range.</p> <p>Do you think there's more to the story for L'Air Liquide? Head over to our Community to see what others are saying!</p> <figure><img height="476" src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/quote-price/query-ZGF0ZT0yMDI2LTA0LTMw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="746" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/28064b35-903d-44f1-a6b1-04b7ab57308c/chart/quote-price/query-ZGF0ZT0yMDI2LTA0LTMw"/><figcaption>ENXTPA:AI 1-Year Stock Price Chart</figcaption></figure> <p><em> This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data     and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your     financial situation. We aim to bring you long-term focused analysis driven by fundamental data.     Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.     Simply Wall St has no position in any stocks mentioned.</em></p><div><h3><strong>New: </strong>AI Stock Screener &amp; Alerts</h3><p>Our new AI Stock Screener scans the market every day to uncover opportunities.</p><div><p>• Dividend Powerhouses (3%+ Yield)<br/>• Undervalued Small Caps with Insider Buying<br/>• High growth Tech and AI Companies</p><p>Or build your own from over 50 metrics.</p></div><p>Explore Now for Free</p></div></div></div>

AIQUY

<p>L'Air Liquide's share price has gained 15.1% year-to-date, currently trading at around €183. A Discounted Cash Flow analysis suggests it is undervalued by 19%, with an intrinsic value of €226.08 per share. However, its P/E ratio of 30.0x exceeds the fair ratio of 25.0x, indicating it may be overvalued. The mixed signals in valuation highlight the need for investors to reassess the stock's fair value in light of market conditions and sector performance.</p>

Is It Time To Reassess Air Liquide (ENXTPA:AI) After This Year’s 15% Share Price Gain?