Air Liquide combines defensive industrial gases cash flows with structural growth from electronics (semiconductor fab buildouts), healthcare (home oxygen), and hydrogen mobility/decarbonization investments. Take-or-pay contracts with electricity pass-through provide highly visible earnings. The advance toward 'molecule pure-play' from chemicals trading peers is widening valuation premia. Hydrogen JVs with major industrials are scaling commercially rather than remaining R&D.
Thesis reviewed May 29, 2026
Air Liquide SA is headquartered in France, which is currently showing moderate signals.
🇫🇷France52NEUTRALView France risk detail →🧱Materials20WATCH| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| DD | DuPont de Nemours, Inc. | 26 | +6% | ↓7% | EARLY |
| PPG | PPG Industries, Inc. | 26 | +1% | ↓7% | NEUTRAL |
| DOW | Dow Inc. | 26 | +1% | ↓7% | NEUTRAL |
| NUE | Nucor Corporation | 26 | +11% | ↓7% | EARLY |
| ECL | Ecolab Inc. | 26 | +2% | ↓7% | NEUTRAL |
| APD | Air Products and Chemicals, Inc. | 26 | -9% | ↓7% | AVOID |
| SHW | The Sherwin-Williams Company | 26 | +2% | ↓7% | NEUTRAL |
Investors who hold AIQUY may also have indirect exposure through these country funds.
Air Liquide signs long-term hydrogen supply with TotalEnergies Normandy refinery
Electronics segment grows on TSMC Arizona and Samsung Texas fab ramps
Estimates · Yahoo Finance · Not audited figures
| Politician | Party | Type | Amount | Trade Date | Return |
|---|---|---|---|---|---|
| Josh GottheimerNJ | D | Sell | $1k–$15k | Jun 21, 24 | +23.8% |