Praxair Financials
This page shows Praxair (PX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Praxair has an operating margin of 20.4%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 8.6% the prior year.
Praxair's revenue surged 22.6% year-over-year to $296.4M, reflecting rapid business expansion. This strong growth earns a score of 93/100.
Praxair carries a low D/E ratio of 0.83, meaning only $0.83 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 80/100, indicating a strong balance sheet with room for future borrowing.
Praxair converts 32.6% of revenue into free cash flow ($96.6M). This strong cash generation earns a score of 100/100.
Praxair generates a 4.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 19/100.
Praxair passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Praxair generates $5.40 in operating cash flow ($101.0M OCF vs $18.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Praxair earns $2.4 in operating income for every $1 of interest expense ($60.6M vs $25.5M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Praxair generated $296.4M in revenue in fiscal year 2024. This represents an increase of 22.6% from the prior year.
Praxair's EBITDA was $87.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 71.3% from the prior year.
Praxair generated $96.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 107.7% from the prior year.
Praxair reported $18.7M in net income in fiscal year 2024. This represents an increase of 362.2% from the prior year.
Praxair earned $0.16 per diluted share (EPS) in fiscal year 2024. This represents an increase of 366.7% from the prior year.
Praxair held $67.5M in cash against $319.8M in long-term debt as of fiscal year 2024.
Praxair paid $0.14 per share in dividends in fiscal year 2024. This represents an increase of 7.7% from the prior year.
Praxair's operating margin was 20.4% in fiscal year 2024, reflecting core business profitability. This is up 11.8 percentage points from the prior year.
Praxair's net profit margin was 6.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 9.3 percentage points from the prior year.
Praxair's ROE was 4.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
Praxair invested $4.4M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 269.5% from the prior year.
PX Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75.9M+4.4% | $72.7M+7.4% | $67.7M-20.4% | $85.0M+19.6% | $71.1M+7.5% | $66.1M+4.8% | $63.1M+7.0% | $58.9M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $9.1M+2.6% | $8.8M+29.3% | $6.8M-25.0% | $9.1M+29.7% | $7.0M+15.8% | $6.1M-17.9% | $7.4M+38.8% | $5.3M |
| Operating Income | $10.7M-39.7% | $17.7M+58.0% | $11.2M-50.9% | $22.9M+35.7% | $16.8M+39.2% | $12.1M+126.4% | $5.3M+1295.0% | $383K |
| Interest Expense | $7.0M+2.8% | $6.8M+6.0% | $6.4M-7.4% | $6.9M+13.3% | $6.1M+5.9% | $5.8M-0.3% | $5.8M+5.7% | $5.5M |
| Income Tax | $1.1M-23.8% | $1.4M+420.8% | $265K-86.5% | $2.0M-47.1% | $3.7M+111.5% | $1.8M-3.7% | $1.8M+1.4% | $1.8M |
| Net Income | $2.1M-36.6% | $3.4M-25.2% | $4.5M-14.4% | $5.3M-24.5% | $7.0M+39.3% | $5.0M+562.8% | -$1.1M+87.1% | -$8.4M |
| EPS (Diluted) | $0.02-33.3% | $0.03-25.0% | $0.04-20.0% | $0.05-16.7% | $0.06+50.0% | $0.04+300.0% | $-0.02+71.4% | $-0.07 |
PX Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $936.0M+0.4% | $932.2M+6.2% | $877.4M+0.9% | $869.3M+5.6% | $823.2M-1.2% | $832.8M-0.2% | $834.1M+2.4% | $814.8M |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $40.0M+19.6% | $33.4M-55.0% | $74.4M+10.3% | $67.5M+115.9% | $31.2M+7.8% | $29.0M-4.8% | $30.5M+52.0% | $20.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $22.5M+3.0% | $21.9M-1.9% | $22.3M-31.0% | $32.3M+37.8% | $23.4M+0.7% | $23.3M+13.0% | $20.6M+4.7% | $19.7M |
| Goodwill | $558.9M+0.1% | $558.1M+10.3% | $506.0M0.0% | $506.0M0.0% | $506.0M0.0% | $506.0M0.0% | $506.0M0.0% | $506.0M |
| Total Liabilities | $539.2M-0.7% | $543.2M+8.0% | $503.1M+4.3% | $482.4M+13.1% | $426.4M-1.5% | $432.7M+5.8% | $408.9M+5.6% | $387.2M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $393.4M+5.5% | $373.0M+4.4% | $357.2M+11.7% | $319.8M+6.4% | $300.6M-4.3% | $314.0M+8.3% | $289.8M+10.7% | $261.9M |
| Total Equity | $396.8M+2.0% | $388.9M+3.9% | $374.3M-3.3% | $386.9M-2.5% | $396.9M-0.8% | $400.1M-5.9% | $425.2M-0.6% | $427.6M |
| Retained Earnings | -$204.3M+1.0% | -$206.4M+1.6% | -$209.8M+2.1% | -$214.3M+3.0% | -$221.0M+3.1% | -$228.0M+2.2% | -$233.0M-0.5% | -$231.9M |
PX Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.6M-164.3% | $13.4M+383.1% | -$4.7M-117.1% | $27.7M-20.4% | $34.8M+217.8% | $11.0M+483.5% | $1.9M-88.7% | $16.6M |
| Capital Expenditures | $938K-48.4% | $1.8M+42.4% | $1.3M+35.9% | $939K+0.2% | $937K+263.2% | $258K+61.3% | $160K-7.0% | $172K |
| Free Cash Flow | -$9.5M-182.5% | $11.6M+292.7% | -$6.0M-122.4% | $26.8M-21.0% | $33.9M+216.7% | $10.7M+522.9% | $1.7M-89.5% | $16.4M |
| Investing Cash Flow | $1.9M+104.5% | -$41.7M-3186.0% | -$1.3M+48.2% | -$2.4M-179.5% | -$875K-236.5% | -$260K+82.9% | -$1.5M-1423.0% | -$100K |
| Financing Cash Flow | $13.5M+203.7% | -$13.0M-197.7% | $13.3M+165.1% | -$20.4M+35.8% | -$31.8M-149.8% | -$12.7M-234.2% | $9.5M+149.5% | -$19.1M |
| Dividends Paid | $4.1M-2.5% | $4.2M+9.3% | $3.9M-0.6% | $3.9M+2302.5% | $162K-95.7% | $3.8M-0.7% | $3.8M+0.6% | $3.8M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PX Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 14.1%-10.3pp | 24.4%+7.8pp | 16.6%-10.3pp | 26.9%+3.2pp | 23.7%+5.4pp | 18.3%+9.8pp | 8.5%+7.8pp | 0.7% |
| Net Margin | 2.8%-1.8pp | 4.7%-2.0pp | 6.7%+0.5pp | 6.2%-3.6pp | 9.8%+2.3pp | 7.6%+9.3pp | -1.7%+12.6pp | -14.3% |
| Return on Equity | 0.5%-0.3pp | 0.9%-0.3pp | 1.2%-0.1pp | 1.4%-0.4pp | 1.8%+0.5pp | 1.3% | N/A | N/A |
| Return on Assets | 0.2%-0.1pp | 0.4%-0.2pp | 0.5%-0.1pp | 0.6%-0.2pp | 0.9%+0.3pp | 0.6%+0.7pp | -0.1%+0.9pp | -1.0% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.99+0.0 | 0.960.0 | 0.95+0.1 | 0.83+0.1 | 0.76-0.0 | 0.78+0.1 | 0.68+0.1 | 0.61 |
| FCF Margin | -12.6%-28.5pp | 15.9%+24.8pp | -8.9%-40.4pp | 31.5%-16.2pp | 47.7%+31.5pp | 16.2%+13.5pp | 2.7%-25.1pp | 27.9% |
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Frequently Asked Questions
What is Praxair's annual revenue?
Praxair (PX) reported $296.4M in total revenue for fiscal year 2024. This represents a 22.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Praxair's revenue growing?
Praxair (PX) revenue grew by 22.6% year-over-year, from $241.7M to $296.4M in fiscal year 2024.
Is Praxair profitable?
Yes, Praxair (PX) reported a net income of $18.7M in fiscal year 2024, with a net profit margin of 6.3%.
What is Praxair's earnings per share (EPS)?
Praxair (PX) reported diluted earnings per share of $0.16 for fiscal year 2024. This represents a 366.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Praxair's EBITDA?
Praxair (PX) had EBITDA of $87.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Praxair have?
As of fiscal year 2024, Praxair (PX) had $67.5M in cash and equivalents against $319.8M in long-term debt.
What is Praxair's operating margin?
Praxair (PX) had an operating margin of 20.4% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Praxair's net profit margin?
Praxair (PX) had a net profit margin of 6.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Praxair pay dividends?
Yes, Praxair (PX) paid $0.14 per share in dividends during fiscal year 2024.
What is Praxair's return on equity (ROE)?
Praxair (PX) has a return on equity of 4.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Praxair's free cash flow?
Praxair (PX) generated $96.6M in free cash flow during fiscal year 2024. This represents a 107.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Praxair's operating cash flow?
Praxair (PX) generated $101.0M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Praxair's total assets?
Praxair (PX) had $869.3M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Praxair's capital expenditures?
Praxair (PX) invested $4.4M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Praxair's debt-to-equity ratio?
Praxair (PX) had a debt-to-equity ratio of 0.83 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Praxair's return on assets (ROA)?
Praxair (PX) had a return on assets of 2.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Praxair's Piotroski F-Score?
Praxair (PX) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Praxair's earnings high quality?
Praxair (PX) has an earnings quality ratio of 5.40x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Praxair cover its interest payments?
Praxair (PX) has an interest coverage ratio of 2.4x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Praxair?
Praxair (PX) scores 79 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.