Air Products and Chemicals, Inc. (APD) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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APD Revenue Growth
Revenue Breakdown (FY 2025)
APD's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
APD Revenue Analysis (2014–2025)
As of May 8, 2026, Air Products and Chemicals, Inc. (APD) generated trailing twelve-month (TTM) revenue of $12.46 billion, reflecting solid growth of +8.8% year-over-year. The most recent quarter (Q2 2026) recorded $3.17 billion in revenue, up 2.2% sequentially.
Looking at the longer-term picture, APD's 5-year compound annual growth rate (CAGR) stands at +6.3%, indicating steady revenue expansion. The company achieved its highest annual revenue of $12.70 billion in 2022.
Revenue diversification analysis shows APD's business is primarily driven by On-site (51%), Merchant (44%), and Sale of Equipment (4%). With over half of revenue concentrated in On-site, the company maintains significant focus in this area while developing other growth vectors.
When compared to Basic Materials sector peers including LIN (+5.0% YoY), ALB (+7.9% YoY), and PX, APD has outperformed the peer group in terms of revenue growth. Compare APD vs LIN →
APD Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| APDCurrent | $12.5B | +8.8% | +6.3% | -7.3% | |
 LIN | $34.0B | +5.0% | +4.5% | 26.3% | |
 ALB | $5.1B | +7.9% | +10.4% | 1.8% | |
 PX | $34.0B | - | - | 26.3% | |
 EMN | $8.8B | -7.7% | +0.7% | 10.6% | |
 CE | $9.5B | -5.6% | +11.0% | 8.0% |
APD Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $12.04B | -0.5% | $3.78B | 31.4% | $-877,000,000 | -7.3% |
| 2024 | $12.10B | -4.0% | $3.93B | 32.5% | $4.47B | 36.9% |
| 2023 | $12.60B | -0.8% | $3.77B | 29.9% | $2.49B | 19.8% |
| 2022 | $12.70B | +23.0% | $3.36B | 26.5% | $2.34B | 18.4% |
| 2021 | $10.32B | +16.6% | $3.14B | 30.4% | $2.28B | 22.1% |
| 2020 | $8.86B | -0.7% | $3.00B | 33.9% | $2.24B | 25.3% |
| 2019 | $8.92B | -0.1% | $2.94B | 33.0% | $2.14B | 24.0% |
| 2018 | $8.93B | +9.1% | $2.74B | 30.7% | $1.97B | 22.0% |
| 2017 | $8.19B | +9.1% | $2.43B | 29.7% | $1.44B | 17.6% |
| 2016 | $7.50B | -4.1% | $2.33B | 31.0% | $1.54B | 20.5% |
Full APD Stock Analysis
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Start ComparisonAPD — Frequently Asked Questions
Quick answers to the most common questions about buying APD stock.
Is APD's revenue growth accelerating or slowing?
APD maintains +8.8% revenue growth, in line with its 5-year CAGR of +6.3%. TTM revenue stands at $12.5B. Growth rate remains consistent with historical average.
What is APD's long-term revenue growth rate?
Air Products and Chemicals, Inc.'s 5-year revenue CAGR of +6.3% reflects the sustained expansion pattern. Current YoY growth of +8.8% is near this long-term average.
How is APD's revenue distributed by segment?
APD reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.