2023 Shareholder's Guide

Advancing for long-term performance

Portfolio growth over the past 5, 10 and 20 years (TSR) (1)

This graph shows Portfolio growth over the past 5, 10 and 20 years (TSR)

  • 2017–2022 : CAC 40 : €100, Air Liquide : €173
    (Capital invested  x1.7), +11.54% per year

  • 2012–2022 : CAC 40 : €100, Air Liquide : €276
    (Capital invested  x2.8), +10.67% per year

  • 2002–2022 : CAC 40 : €100, Air Liquide : €912
    (Capital invested  x9.1), +11.69% per year

Long-term outperformance

This graph shows the long-term outperformance

2002

Over 20 years 
Air Liquide: +396.41%
CAC 40: +111.29%
Share price: €26.67 

2012

Over 10 years 
Air Liquide: +109.38%
CAC 40: +77.80%
Share price: €63.23

2017

Over 5 years 
Air Liquide: +52.50%
CAC 40: +21.86%
Share price: €86.82 

2022

Air Liquide: -5.01%
CAC 40: -9.50%
Share price: €132.40

Adjusted according to the Euronext rules currently in force. Share price as at December 31 of the year concerned. Any investment in shares carries a risk of capital loss. Past performances of Air Liquide’s shares are not a guarantee of future results. This does not constitute financial investment advice. You may consult the risk factors mentioned in the Universal Registration Document, available at airliquide.com.

(1) Calculation based on the average return on a registered share. There is an online simulator at deveniractionnaire.airliquide.com to measure the return on your Air Liquide shares. The Total Shareholder Return (TSR) is an annualized rate of return for a Shareholder who buys shares at the beginning of the period and sells them at the end of the period. The average return shown takes into account the change in share price, dividends reinvested in shares and bonus share grants (both increased for the loyalty bonus), and includes the impact related to the use of preferential subscription rights during the capital increase carried out in 2016 in connection with the acquisition of Airgas.