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6Material company update
Apr 30, 2026·SEC
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Jan 30, 2026·SEC
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Jan 29, 2026·SEC
Air Products and Chemicals, Inc.(APD)Earnings, Financials & Key Ratios
APD•NYSE
$303.93
$67.67B mkt cap·Price updated May 6, 2026
AboutAir Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasification, metals, manufacturing, food and beverage, electronics, magnetic resonance imaging, energy production and refining, and metals. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products and Chemicals, Inc. has a strategic collaboration with Baker Hughes Company to develop hydrogen compression systems. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.Show more
- Revenue$12.04B-0.5%
- EBITDA$687M-88.4%
- Net Income-$395M-110.3%
- EPS (Diluted)-1.77-110.3%
- Gross Margin31.41%-3.3%
- EBITDA Margin5.71%-88.3%
- Operating Margin-7.29%-119.7%
- Net Margin-3.28%-110.4%
- ROE-2.19%-109.8%
- ROIC-2.04%-117.0%
- Debt/Equity1.06+32.0%
- Interest Coverage-1.06-104.6%
APD Key Insights
Air Products and Chemicals, Inc. (APD) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Dividend Aristocrat: 29 years of consecutive increases
- ✓Healthy dividend yield of 2.3%
- ✓Healthy 5Y average net margin of 16.9%
- ✓Trading near 52-week high
✗Weaknesses
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
APD Price & Volume
Air Products and Chemicals, Inc. (APD) stock price & volume — 10-year historical chart
Loading chart...
APD Growth Metrics
Air Products and Chemicals, Inc. (APD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years4.4%
5 Years6.33%
3 Years-1.77%
TTM3.69%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM37.44%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM37.38%
Return on Capital
10 Years9.68%
5 Years8.16%
3 Years7.09%
Last Year-2.43%
APD Recent Earnings
Air Products and Chemicals, Inc. (APD) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
Apr 30, 2026EPS
$3.20
Est $3.06
+4.6%
Revenue
$3.2B
Est $3.1B
+3.3%
Q1 2026
Jan 30, 2026EPS
$3.16
Est $3.04
+3.9%
Revenue
$3.1B
Est $3.1B
+1.7%
Q4 2025
Nov 6, 2025EPS
$3.39
Est $3.38
+0.3%
Revenue
$3.2B
Est $3.2B
-0.3%
Q3 2025
Jul 31, 2025EPS
$3.09
Est $2.99
+3.3%
Revenue
$3.0B
Est $3.0B
+1.1%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $3.20vs $3.06+4.6% | $3.2Bvs $3.1B+3.3% |
| Q1 2026 | Jan 30, 2026 | $3.16vs $3.04+3.9% | $3.1Bvs $3.1B+1.7% |
| Q4 2025 | Nov 6, 2025 | $3.39vs $3.38+0.3% | $3.2Bvs $3.2B-0.3% |
| Q3 2025 | Jul 31, 2025 | $3.09vs $2.99+3.3% | $3.0Bvs $3.0B+1.1% |
Based on last 12 quarters of dataView full earnings history →
APD Peer Comparison
Air Products and Chemicals, Inc. (APD) competitors in Industrial gases and hydrogen — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 LIN | 231.88B | 500.39 | 34.30 | 2.97% | 20.56% | 17.82% | 2.19% | 0.68 |
 ALB | 22.93B | 194.82 | -33.82 | -100% | -10.74% | -5.65% | 3.02% | |
 PX | 908.83M | 7.55 | 47.19 | 22.63% | 6.31% | 3.86% | 10.63% | 0.88 |
 EMN | 8.84B | 77.29 | 18.85 | -6.71% | 4.62% | 6.69% | 4.8% | 0.84 |
 CE | 7.72B | 69.00 | -6.49 | -7.16% | -10.79% | -21.51% | 10.4% | 2.89 |
 OLN | 3.27B | 28.71 | -77.59 | 3.68% | -0.63% | -2.14% | 7.58% | 1.76 |
 HUN | 2.61B | 14.99 | -9.43 | -5.85% | -5.69% | -8.14% | 4.45% | 0.92 |
 WLK | 13.42B | 104.78 | -8.93 | -8.01% | -14.91% | -16.76% | 0.69 |
Compare APD vs Peers
Air Products and Chemicals, Inc. (APD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
APD Income Statement
Air Products and Chemicals, Inc. (APD) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 8.19B | 8.93B | 8.92B | 8.86B | 10.32B | 12.7B | 12.6B | 12.1B | 12.04B | 12.46B |
| Revenue Growth % | 9.11% | 9.07% | -0.13% | -0.7% | 16.56% | 23.01% | -0.78% | -3.96% | -0.52% | 3.69% |
| Cost of Goods Sold | 5.75B | 6.19B | 5.98B | 5.86B | 7.19B | 9.34B | 8.83B | 8.17B | 8.26B | 8.48B |
| COGS % of Revenue | 70.27% | 69.31% | 67% | 66.15% | 69.61% | 73.54% | 70.1% | 67.51% | 68.59% | - |
| Gross Profit | 2.43B▲ 0% | 2.74B▲ 12.6% | 2.94B▲ 7.4% | 3B▲ 1.9% | 3.14B▲ 4.6% | 3.36B▲ 7.1% | 3.77B▲ 12.1% | 3.93B▲ 4.4% | 3.78B▼ 3.8% | 3.99B▲ 0% |
| Gross Margin % | 29.73% | 30.69% | 33% | 33.85% | 30.39% | 26.46% | 29.9% | 32.49% | 31.41% | 31.98% |
| Gross Profit Growth % | 4.63% | 12.59% | 7.4% | 1.86% | 4.63% | 7.12% | 12.11% | 4.38% | -3.83% | - |
| Operating Expenses | 996.1M | 775.1M | 799M | 760.6M | 869.1M | 1.02B | 1.27B | -534.2M | 4.66B | 1.69B |
| OpEx % of Revenue | 12.17% | 8.68% | 8.96% | 8.59% | 8.42% | 8.04% | 10.1% | -4.41% | 38.7% | - |
| Selling, General & Admin | 713.5M | 760.8M | 750M | 742.1M | 828.4M | 900.6M | 957M | 942.4M | 906.1M | 897.6M |
| SG&A % of Revenue | 8.71% | 8.52% | 8.41% | 8.38% | 8.02% | 7.09% | 7.6% | 7.79% | 7.53% | - |
| Research & Development | 57.8M | 64.5M | 72.9M | 83.9M | 93.5M | 102.9M | 105.6M | 100.2M | 96.3M | 93.4M |
| R&D % of Revenue | 0.71% | 0.72% | 0.82% | 0.95% | 0.91% | 0.81% | 0.84% | 0.83% | 0.8% | - |
| Other Operating Expenses | 224.8M | -50.2M | -23.9M | -65.4M | -52.8M | 17.8M | 209.8M | -1.58B | 3.66B | 0 |
| Operating Income | 1.44B▲ 0% | 1.97B▲ 36.5% | 2.14B▲ 9.1% | 2.24B▲ 4.3% | 2.28B▲ 2.0% | 2.34B▲ 2.5% | 2.49B▲ 6.7% | 4.47B▲ 79.0% | -877M▼ 119.6% | 2.29B▲ 0% |
| Operating Margin % | 17.59% | 22.01% | 24.04% | 25.27% | 22.1% | 18.42% | 19.8% | 36.91% | -7.29% | 18.41% |
| Operating Income Growth % | -6.19% | 36.5% | 9.1% | 4.35% | 1.96% | 2.52% | 6.66% | 79.03% | -119.64% | - |
| EBITDA | 2.31B | 2.94B | 3.23B | 3.42B | 3.6B | 3.68B | 3.85B | 5.92B | 687.2M | 3.85B |
| EBITDA Margin % | 28.16% | 32.88% | 36.18% | 38.65% | 34.9% | 28.96% | 30.58% | 48.9% | 5.71% | 30.92% |
| EBITDA Growth % | -3.51% | 27.34% | 9.91% | 6.05% | 5.26% | 2.06% | 4.78% | 53.58% | -88.39% | 29.81% |
| D&A (Non-Cash Add-back) | 865.8M | 970.7M | 1.08B | 1.19B | 1.32B | 1.34B | 1.36B | 1.45B | 1.56B | 1.56B |
| EBIT | 1.54B | 2.15B | 2.43B | 2.53B | 2.65B | 2.88B | 3.06B | 5.04B | -226.7M | 2.8B |
| Net Interest Income | -120.6M | -130.5M | -137M | -109.3M | -141.8M | -128M | -177.5M | -218.8M | -214M | -233.2M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 120.6M | 130.5M | 137M | 109.3M | 141.8M | 128M | 177.5M | 218.8M | 214M | 233.2M |
| Other Income/Expense | -23.9M | 49.4M | 145.1M | 186.2M | 226M | 415.9M | 387.8M | 355.1M | 436.3M | 451.8M |
| Pretax Income | 1.42B▲ 0% | 2.02B▲ 42.3% | 2.29B▲ 13.6% | 2.42B▲ 5.9% | 2.51B▲ 3.4% | 2.75B▲ 9.9% | 2.88B▲ 4.6% | 4.82B▲ 67.3% | -440.7M▼ 109.1% | 2.75B▲ 0% |
| Pretax Margin % | 17.3% | 22.56% | 25.67% | 27.37% | 24.29% | 21.69% | 22.88% | 39.84% | -3.66% | 22.03% |
| Income Tax | 260.9M | 524.3M | 480.1M | 478.4M | 462.8M | 500.8M | 551.2M | 944.9M | -94.3M | 588.9M |
| Effective Tax Rate % | 18.42% | 26.02% | 20.97% | 19.74% | 18.46% | 18.18% | 19.12% | 19.6% | 21.4% | 21.44% |
| Net Income | 3B▲ 0% | 1.5B▼ 50.1% | 1.76B▲ 17.5% | 1.89B▲ 7.2% | 2.1B▲ 11.3% | 2.26B▲ 7.5% | 2.3B▲ 2.0% | 3.83B▲ 66.4% | -394.5M▼ 110.3% | 2.11B▲ 0% |
| Net Margin % | 36.65% | 16.77% | 19.73% | 21.3% | 20.33% | 17.77% | 18.26% | 31.64% | -3.28% | 16.91% |
| Net Income Growth % | 375.42% | -50.08% | 17.51% | 7.2% | 11.26% | 7.48% | 1.95% | 66.43% | -110.31% | 37.44% |
| Net Income (Continuing) | 1.16B | 1.49B | 1.81B | 1.95B | 2.04B | 2.25B | 2.33B | 3.88B | -346.4M | 2.16B |
| Discontinued Operations | 1.87B | 42.2M | 0 | 0 | 70.3M | 12.6M | 7.4M | -13.9M | -8M | -1000K |
| Minority Interest | 99.3M | 318.8M | 334.7M | 363.3M | 548.3M | 558.4M | 1.35B | 1.64B | 2.32B | 2.5B |
| EPS (Diluted) | 13.65▲ 0% | 6.78▼ 50.3% | 7.94▲ 17.1% | 8.55▲ 7.7% | 9.12▲ 6.7% | 10.08▲ 10.5% | 10.30▲ 2.2% | 17.18▲ 66.8% | -1.77▼ 110.3% | 9.45▲ 0% |
| EPS Growth % | 372.32% | -50.33% | 17.11% | 7.68% | 6.67% | 10.53% | 2.18% | 66.8% | -110.3% | 37.38% |
| EPS (Basic) | 13.76 | 6.83 | 7.99 | 8.59 | 9.16 | 10.11 | 10.31 | 17.21 | -1.77 | - |
| Diluted Shares Outstanding | 219.8M | 220.8M | 221.6M | 222.3M | 222.5M | 222.5M | 222.7M | 222.8M | 222.9M | 222.9M |
| Basic Shares Outstanding | 218M | 219.3M | 220.3M | 221.2M | 221.6M | 222M | 222.3M | 222.5M | 222.8M | 222.8M |
| Dividend Payout Ratio | 26.26% | 59.94% | 56.48% | 58.49% | 59.87% | 61.31% | 65.06% | 40.88% | - | - |
APD Balance Sheet
Air Products and Chemicals, Inc. (APD) balance sheet — assets, liabilities & shareholders' equity
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 5.88B | 5.08B | 4.62B | 8.68B | 8.38B | 6.28B | 5.2B | 6.36B | 5.83B | 5.01B |
| Cash & Short-Term Investments | 3.68B | 2.98B | 2.41B | 6.36B | 5.8B | 3.3B | 1.95B | 2.98B | 1.86B | 951M |
| Cash Only | 3.27B | 2.79B | 2.25B | 5.25B | 4.47B | 2.71B | 1.62B | 2.98B | 1.86B | 951M |
| Short-Term Investments | 404M | 184.7M | 166M | 1.1B | 1.33B | 590.7M | 332.2M | 5M | 0 | 0 |
| Accounts Receivable | 1.54B | 1.38B | 1.42B | 1.42B | 1.66B | 2.04B | 2.16B | 2.17B | 2.51B | 1.94B |
| Days Sales Outstanding | 68.66 | 56.27 | 57.92 | 58.42 | 58.52 | 58.5 | 62.65 | 65.4 | 76.22 | 72.44 |
| Inventory | 335.4M | 396.1M | 388.3M | 404.8M | 453.9M | 514.2M | 651.8M | 766M | 776.5M | 767.9M |
| Days Inventory Outstanding | 21.28 | 23.36 | 23.72 | 25.22 | 23.05 | 20.1 | 26.93 | 34.23 | 34.33 | 33.69 |
| Other Current Assets | 132.2M | 203.7M | 322.5M | 340.3M | 347.1M | 274.8M | 259.8M | 264.2M | 504.8M | 1.18B |
| Total Non-Current Assets | 12.59B | 14.1B | 14.32B | 16.48B | 18.48B | 20.91B | 26.8B | 33.21B | 35.23B | 36.63B |
| Property, Plant & Equipment | 8.44B | 9.92B | 10.34B | 12.34B | 13.82B | 14.86B | 18.45B | 24.42B | 26.28B | 27.61B |
| Fixed Asset Turnover | 0.97x | 0.90x | 0.86x | 0.72x | 0.75x | 0.85x | 0.68x | 0.50x | 0.46x | 0.46x |
| Goodwill | 721.5M | 788.9M | 797.1M | 891.5M | 911.5M | 823M | 861.7M | 905.1M | 963.9M | 958.7M |
| Intangible Assets | 368.3M | 438.5M | 419.5M | 435.8M | 420.7M | 347.5M | 334.6M | 311.6M | 293.5M | 283.5M |
| Long-Term Investments | 1.29B | 1.28B | 1.28B | 1.43B | 1.65B | 3.42B | 4.68B | 4.79B | 6.67B | 24B |
| Other Non-Current Assets | 1.6B | 1.55B | 1.38B | 1.27B | 1.58B | 1.33B | 2.32B | 2.66B | 1.02B | 6.9B |
| Total Assets | 18.47B▲ 0% | 19.18B▲ 3.9% | 18.94B▼ 1.2% | 25.17B▲ 32.9% | 26.86B▲ 6.7% | 27.19B▲ 1.2% | 32B▲ 17.7% | 39.57B▲ 23.7% | 41.06B▲ 3.8% | 41.64B▲ 0% |
| Asset Turnover | 0.44x | 0.47x | 0.47x | 0.35x | 0.38x | 0.47x | 0.39x | 0.31x | 0.29x | 0.30x |
| Asset Growth % | 2.43% | 3.85% | -1.23% | 32.87% | 6.72% | 1.24% | 17.69% | 23.66% | 3.75% | 26.61% |
| Total Current Liabilities | 2.49B | 2.34B | 1.82B | 2.42B | 2.8B | 3.47B | 3.9B | 4.18B | 4.22B | 3.51B |
| Accounts Payable | 659.5M | 594.6M | 528.2M | 546.2M | 736.8M | 1.12B | 1.21B | 1.45B | 1.44B | 2.86B |
| Days Payables Outstanding | 41.84 | 35.06 | 32.26 | 34.03 | 37.42 | 43.8 | 50.12 | 64.86 | 63.53 | 111.87 |
| Short-Term Debt | 560.4M | 460.9M | 98.6M | 477.7M | 486.9M | 559M | 874.5M | 694.9M | 842.8M | 487.9M |
| Deferred Revenue (Current) | 438.9M | 156.6M | 247.4M | 313.8M | 366.8M | 439.1M | 413M | 240M | 253.4M | 486.3M |
| Other Current Liabilities | 521.9M | 831.1M | 656.9M | 687.8M | 789.3M | 861.6M | 875.5M | 55.9M | 1.1B | 49.8M |
| Current Ratio | 2.36x | 2.17x | 2.54x | 3.59x | 2.99x | 1.81x | 1.33x | 1.52x | 1.38x | 1.38x |
| Quick Ratio | 2.23x | 2.00x | 2.32x | 3.43x | 2.83x | 1.66x | 1.17x | 1.34x | 1.20x | 1.20x |
| Cash Conversion Cycle | 48.1 | 44.57 | 49.38 | 49.61 | 44.15 | 34.8 | 39.46 | 34.77 | 47.02 | -5.73 |
| Total Non-Current Liabilities | 5.79B | 5.66B | 5.73B | 10.31B | 9.97B | 10.02B | 12.45B | 16.72B | 19.49B | 19.98B |
| Long-Term Debt | 3.4B | 3.35B | 3.23B | 7.43B | 7.15B | 7.09B | 9.43B | 13.53B | 16.95B | 17.27B |
| Capital Lease Obligations | 0 | 10.5M | 10.1M | 335.8M | 503.4M | 592.1M | 631.1M | 677.9M | 616M | 2.47B |
| Deferred Tax Liabilities | 778.4M | 775.1M | 793.8M | 962.6M | 1.18B | 1.25B | 1.27B | 1.16B | 579.6M | 2.65B |
| Other Non-Current Liabilities | 1.57B | 1.47B | 1.65B | 1.52B | 1.08B | 1.03B | 981.1M | 1.06B | 1.06B | 4.85B |
| Total Liabilities | 8.28B | 8B | 7.55B | 12.73B | 12.77B | 13.49B | 16.34B | 20.9B | 23.71B | 23.49B |
| Total Debt | 3.96B | 3.81B | 3.33B | 8.31B | 8.22B | 8.33B | 11.03B | 15.01B | 18.41B | 18.36B |
| Net Debt | 689.2M | 1.02B | 1.08B | 3.06B | 3.75B | 5.62B | 9.41B | 12.03B | 16.55B | 17.41B |
| Debt / Equity | 0.39x | 0.34x | 0.29x | 0.67x | 0.58x | 0.61x | 0.70x | 0.80x | 1.06x | 1.06x |
| Debt / EBITDA | 1.72x | 1.30x | 1.03x | 2.43x | 2.28x | 2.26x | 2.86x | 2.54x | 26.78x | 4.76x |
| Net Debt / EBITDA | 0.30x | 0.35x | 0.33x | 0.89x | 1.04x | 1.53x | 2.44x | 2.03x | 24.08x | 24.08x |
| Interest Coverage | 12.74x | 16.44x | 17.71x | 23.18x | 18.68x | 22.52x | 17.24x | 23.03x | -1.06x | 12.00x |
| Total Equity | 10.19B▲ 0% | 11.18B▲ 9.7% | 11.39B▲ 1.9% | 12.44B▲ 9.3% | 14.09B▲ 13.2% | 13.7B▼ 2.7% | 15.66B▲ 14.3% | 18.67B▲ 19.2% | 17.35B▼ 7.1% | 18.15B▲ 0% |
| Equity Growth % | 41.2% | 9.73% | 1.9% | 9.26% | 13.22% | -2.74% | 14.29% | 19.24% | -7.09% | 2.74% |
| Book Value per Share | 46.34 | 50.62 | 51.39 | 55.97 | 63.32 | 61.58 | 70.32 | 83.81 | 77.84 | 81.43 |
| Total Shareholders' Equity | 10.09B | 10.86B | 11.05B | 12.08B | 13.54B | 13.14B | 14.31B | 17.04B | 15.02B | 15.65B |
| Common Stock | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M | 249.4M |
| Retained Earnings | 12.85B | 13.41B | 14.14B | 14.88B | 15.68B | 16.52B | 17.29B | 19.55B | 17.56B | 17.84B |
| Treasury Stock | -2.16B | -2.09B | -2.03B | -2B | -1.99B | -1.98B | -1.97B | -1.98B | -2B | -2B |
| Accumulated OCI | -1.85B | -1.74B | -2.38B | -2.14B | -1.52B | -2.79B | -2.45B | -2.03B | -2.09B | -1.74B |
| Minority Interest | 99.3M | 318.8M | 334.7M | 363.3M | 548.3M | 558.4M | 1.35B | 1.64B | 2.32B | 2.5B |
APD Cash Flow Statement
Air Products and Chemicals, Inc. (APD) cash flow — operating, investing & free cash flow history
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | Sep'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 1.57B | 2.54B | 2.97B | 3.26B | 3.34B | 3.23B | 3.21B | 3.65B | 3.25B | 3.26B |
| Operating CF Margin % | 19.15% | 28.46% | 33.3% | 36.86% | 32.37% | 25.44% | 25.44% | 30.14% | 26.99% | - |
| Operating CF Growth % | -41.07% | 62.12% | 16.84% | 9.93% | 2.36% | -3.34% | -0.76% | 13.76% | -10.91% | 246.99% |
| Net Income | 1.13B | 1.46B | 1.76B | 1.9B | 2.03B | 2.24B | 2.29B | 3.84B | 4.9M | 2.11B |
| Depreciation & Amortization | 865.8M | 970.7M | 1.08B | 1.19B | 1.32B | 1.34B | 1.36B | 1.45B | 1.56B | 1.56B |
| Stock-Based Compensation | 39.9M | 38.8M | 41.2M | 53.5M | 44.5M | 48.4M | 59.9M | 61.8M | 76.4M | 48.1M |
| Deferred Taxes | -38M | 185.2M | 107M | 165M | 94M | 32.3M | -24.7M | -69.3M | -554.8M | 168.5M |
| Other Non-Cash Items | -482.2M | 157M | 4.2M | 300K | -163.4M | -316.4M | -55.8M | -1.46B | 3.01B | 612.9M |
| Working Capital Changes | 48M | -265.4M | -25.3M | -40.1M | 16.7M | -115.8M | -424.8M | -183M | -851.6M | -410.5M |
| Change in Receivables | -73.6M | -42.8M | -69M | 43.2M | -130.5M | -475.2M | 130.7M | -76.6M | -36.3M | -118.4M |
| Change in Inventory | 6.4M | -64.2M | -3M | -5.2M | -47.2M | -94.3M | -129.4M | -137.8M | -35.8M | -6.4M |
| Change in Payables | 269.2M | -149.4M | 38M | 52.5M | 263.4M | 532.5M | -307.1M | -338.7M | -224M | -222.5M |
| Cash from Investing | 2.33B | -1.63B | -2.11B | -3.56B | -2.73B | -3.86B | -5.68B | -4.92B | -6.58B | -5.07B |
| Capital Expenditures | -1.04B | -1.57B | -1.99B | -2.51B | -2.46B | -2.93B | -4.63B | -6.8B | -7.02B | -3.01B |
| CapEx % of Revenue | 12.7% | 17.56% | 22.31% | 28.33% | 23.87% | 23.05% | 36.72% | 56.17% | 58.34% | - |
| Acquisitions | -16.3M | -345.4M | -138.9M | -207.7M | -86.5M | -1.72B | 260.3M | 0 | 773.3M | -59.9M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 3.79B | 65.4M | -3.2M | 84.2M | 43.3M | 53.2M | -659.7M | 1.55B | 53.5M | -2.16B |
| Cash from Financing | -1.97B | -1.36B | -1.37B | 3.28B | -1.56B | -1B | 1.37B | 2.62B | 2.21B | 379M |
| Debt Issued (Net) | -1.28B | -496.7M | -424.7M | 4.43B | -283M | 384.1M | 3.17B | 3.9B | 3.88B | 1.69B |
| Equity Issued (Net) | 68.4M | 76.2M | 68.1M | 34.1M | 10.6M | 19.3M | 24M | 7.9M | 1.1M | -1.1M |
| Dividends Paid | -787.9M | -897.8M | -994M | -1.1B | -1.26B | -1.38B | -1.5B | -1.56B | -1.58B | -1.59B |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 96.6M | -41.5M | -19.9M | -80.1M | -28.4M | -20.7M | -321.7M | 270.2M | -91.3M | 287.3M |
| Net Change in Cash | 1.94B▲ 0% | -482.3M▼ 124.8% | -542.6M▼ 12.5% | 3B▲ 653.7% | -784.1M▼ 126.1% | -1.76B▼ 124.2% | -1.09B▲ 37.8% | 1.36B▲ 224.6% | -1.12B▼ 182.5% | -540.4M▲ 0% |
| Free Cash Flow | 528.2M▲ 0% | 973.5M▲ 84.3% | 980.2M▲ 0.7% | 755.7M▼ 22.9% | 877.7M▲ 16.1% | 303.7M▼ 65.4% | -1.42B▼ 567.6% | -3.15B▼ 121.8% | -3.77B▼ 19.5% | 1.11B▲ 0% |
| FCF Margin % | 6.45% | 10.9% | 10.99% | 8.53% | 8.5% | 2.39% | -11.27% | -26.03% | -31.28% | 8.89% |
| FCF Growth % | -69.87% | 84.31% | 0.69% | -22.9% | 16.14% | -65.4% | -567.6% | -121.82% | -19.55% | 125.57% |
| FCF per Share | 2.40 | 4.41 | 4.42 | 3.40 | 3.94 | 1.36 | -6.38 | -14.14 | -16.89 | -16.89 |
| FCF Conversion (FCF/Net Income) | 0.52x | 1.70x | 1.69x | 1.73x | 1.59x | 1.43x | 1.39x | 0.95x | -8.24x | 0.53x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -123.6M |
APD Key Ratios
Air Products and Chemicals, Inc. (APD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 34.49% | 14.02% | 15.6% | 15.83% | 15.82% | 16.24% | 15.67% | 22.3% | -2.19% | 11.85% |
| Return on Invested Capital (ROIC) | 9.82% | 12.78% | 13.04% | 12% | 10.26% | 9.44% | 8.43% | 12.01% | -2.04% | -2.04% |
| Gross Margin | 29.73% | 30.69% | 33% | 33.85% | 30.39% | 26.46% | 29.9% | 32.49% | 31.41% | 31.98% |
| Net Margin | 36.65% | 16.77% | 19.73% | 21.3% | 20.33% | 17.77% | 18.26% | 31.64% | -3.28% | 16.91% |
| Debt / Equity | 0.39x | 0.34x | 0.29x | 0.67x | 0.58x | 0.61x | 0.70x | 0.80x | 1.06x | 1.06x |
| Interest Coverage | 12.74x | 16.44x | 17.71x | 23.18x | 18.68x | 22.52x | 17.24x | 23.03x | -1.06x | 12.00x |
| FCF Conversion | 0.52x | 1.70x | 1.69x | 1.73x | 1.59x | 1.43x | 1.39x | 0.95x | -8.24x | 0.53x |
| Revenue Growth | 9.11% | 9.07% | -0.13% | -0.7% | 16.56% | 23.01% | -0.78% | -3.96% | -0.52% | 3.69% |
APD SEC Filings & Documents
Air Products and Chemicals, Inc. (APD) SEC filings — annual & quarterly reports (10-K, 10-Q)
APD Frequently Asked Questions
Air Products and Chemicals, Inc. (APD) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Air Products and Chemicals, Inc. (APD) reported $12.46B in revenue for fiscal year 2025. This represents a 211% increase from $4.01B in 1996.
Air Products and Chemicals, Inc. (APD) saw revenue decline by 0.5% over the past year.
Yes, Air Products and Chemicals, Inc. (APD) is profitable, generating $2.11B in net income for fiscal year 2025 (-3.3% net margin).
Dividend & Returns
Yes, Air Products and Chemicals, Inc. (APD) pays a dividend with a yield of 2.34%. This makes it attractive for income-focused investors.
Air Products and Chemicals, Inc. (APD) has a return on equity (ROE) of -2.2%. Negative ROE indicates the company is unprofitable.
Air Products and Chemicals, Inc. (APD) generated $1.11B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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