1. MARKETS
  2. SECTOR : CHEMICALS & PETROCHEMICALS
  3. INDUSTRY : SPECIALTY CHEMICALS
  4. AIR PRODUCTS & CHEMICALS INC.
Air Products & Chemicals Inc.
XNYS: APD
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Air Products & Chemicals quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

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Forecaster Analyst Estimates for Air Products & Chemicals share price target, revenues, EPS, net income and more

Air Products & Chemicals quarterly results: revenue, profit, and P&L – 13 quarter history

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  • POSITIVE

    Quarterly Revenue Air Products & Chemicals Jun-2026 Quarterly Revenue is $3,161 Million which is growth of 4.6% YoY.

  • NEGATIVE

    Quarterly Net Profit Air Products & Chemicals Jun-2026 Quarterly Net Profit is $-1,441 Million which is growth of -301.8% YoY.

Air Products & Chemicals Inc., Earnings Report - Quarterly Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphJun '26Mar '26Dec '25Sep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23
Operating Rev.
3,1613,171.83,102.53,166.93,022.72,916.22,931.53,187.52,985.52,930.22,997.43,191.33,033.9
Cost Of Rev.
2,1252,184.42,107.52,145.52,040.12,053.92,016.52,104.42,005.61,991.52,067.22,207.22,070.7
Gross Profit
1,036987.49951,021.4982.6862.39151,083.1979.9938.7930.2984.1963.2
⌄
225.7234.7238.5209.6210.2231241.5234.3242.3244.5263.3245.5260
Operating Profit
810.3752.7756.5811.8772.4631.3673.5848.8737.6694.2666.9738.6703.2
⌄
-49.4-49.5-54.5-67.8-61.4-42.2-42.6-49.7-55.7-59.9-53.5-48-47.4
Profit Before Tax
-1,937.7883.5850.8121.3890.8-2,243.3790.52,503.3849.5711.4757841.2750.1
Tax
-515.4158.7159.4111.2159.6-505.8140.7538.4140.6130.5135.4154.2139.6
⌄
-1,440.8710.4678.24.9713.8-1,730.6617.41,949.9696.6572.4609.3692.6595.6
Diluted NI Avail to Com Stockholders Ann.
-1,440.8710.4678.24.9713.8-1,730.6617.41,949.9696.6572.4609.3692.6595.6
Basic EPS
-6.53.2303.2-7.82.88.83.12.62.73.12.7
Diluted EPS After ExtraOrdinary
3.53.23.23.43.12.72.93.63.22.92.83.23
Number Of Shares End
222.8222.8222.8222.7222.8222.8222.7222.5222.5222.5222.5222.3222.4
Net Income Continuing Discontinued Operations
-1,440.8710.4678.24.9713.8-1,730.6617.41,949.9696.6572.4609.3692.6595.6
Normalized Income
773.6736.4705.3756.5688.5598.5636.9792.8712.7635.1628702663.4
Interest Income
-------------
Interest
49.449.554.567.861.442.242.649.755.759.953.54847.4
Net Interest Income
-49.4-49.5-54.5-67.8-61.4-42.2-42.6-49.7-55.7-59.9-53.5-48-47.4
EBIT
-1,888.3933905.3189.1952.2-2,201.1833.12,553905.2771.3810.5889.2797.5
EBITDA
-1,502.91,3081,276601.91,353.2-1,817.51,199.92,933.81,265.51,132.11,159.71,246.51,137.4
Reconciled Cost Of Rev.
2,1252,184.42,107.52,145.52,040.12,053.92,016.52,104.42,005.61,991.52,067.22,207.22,070.7
Reconciled Depr.
385.4375370.7412.8401383.6366.8380.8360.3360.8349.2357.3339.9
Profit From Continuing Operations
-1,440.8710.4678.24.9721.8-1,730.6617.41,963.8696.6572.4609.3685.2595.6
Normalized EBITDA
1,404.51,3081,2981,396.91,3351,141.81,229.81,358.21,265.51,189.11,159.71,246.51,196.4
*All financials are in USD Million and price data in USD
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Air Products & Chemicals competitor comparison and performance snapshot within industry

Air Products & Chemicals annual results: revenue, profit, P&L, and margins as of Sep 2025 – 11 year history

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  • NEGATIVE

    Annual Revenue Air Products & Chemicals Sep-2025 Annual Revenue is $12,037 Million which is growth of -0.5% YoY.

  • NEGATIVE

    Annual Net Profit Air Products & Chemicals Sep-2025 Annual Net Profit is $-394 Million which is growth of -110.3% YoY.

Air Products & Chemicals Inc., Earnings Report - Annual Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsTTMSep '25Sep '24Sep '23Sep '22Sep '21Sep '20Sep '19Sep '18Sep '17Sep '16Sep '15
⌄
-1.8%
6.3%
 12,037.312,100.612,60012,698.610,3238,856.38,918.98,930.28,187.69,524.49,894.9
Cost Of Rev. Ann.
-4%
7.1%
8,562.48,2568,168.78,8339,338.57,186.15,858.15,975.56,189.55,753.46,402.76,944.1
Gross Profit Ann.
4%
4.8%
4,039.83,781.33,931.93,7673,360.13,136.92,998.22,943.42,740.72,434.23,121.72,950.8
Operating Exp. Ann.
-2%
3.2%
908.5892.3984.41,027.8947.6869.1760.6773.6778.1693940.11,073.8
Operating Profit Ann.
6.2%
5.2%
3,131.32,8892,947.52,739.22,412.52,267.82,237.62,169.81,962.61,741.22,181.61,877
⌄
-
-
-221.2-214-218.8-177.5-128-141.8-109.3-137-130.5-119.1-109.3-98.9
Other Exp. Ann.
-
-
 -3,115.72,092.5320.7470.2381.4295.5256.7182.9-20659.9-44.6
PBT Ann.
-
-
-82.1-440.74,821.22,882.42,754.72,507.42,423.82,289.52,0151,416.12,132.21,733.5
Tax Ann.
-
-
-86.1-94.3944.9551.2500.8462.8478.4480.1524.3260.9586.5415.9
⌄
-
-
-47.3-394.53,828.22,300.22,256.12,099.11,886.71,7601,497.83,000.4631.11,277.9
Diluted NI Avail to Com Stockholders Ann.
-
-
-47.3-394.53,828.22,300.22,256.12,099.11,886.71,7601,497.83,000.4631.11,277.9
EPS Ann.
-
-
 -1.817.210.410.29.58.586.813.82.96
Diluted EPS Ann.
-
-
 -1.817.210.310.19.48.57.96.813.72.95.9
Number Of Shares End
0.1%
0.1%
 222.7222.5222.3222221.6221.5220.6219.3218.3217.3215.2
Total Exp. Ann.
-3.8%
6.7%
 9,148.39,153.19,860.810,286.18,055.26,618.76,749.16,967.66,446.47,342.88,017.9
Net Income Continuing Discontinued Operations Ann.
-
-
-47.3-394.53,828.22,300.22,256.12,099.11,886.71,7601,497.83,000.4631.11,277.9
Normalized Income Ann.
5%
7.6%
2,971.82,680.42,768.62,562.92,315.62,006.71,861.91,819.41,644.71,385.91,647.81,427
Interest Income Ann.
-
-
 -------1.56.24.6
Interest Ann.
18.7%
14.4%
221.2214218.8177.5128141.8109.3137130.5120.6115.5103.5
EBITDA Ann.
-31.8%
-18.5%
1,6831,337.56,491.14,418.24,220.93,970.53,718.13,509.33,116.22,4013,167.42,768.8
Reconciled Cost Of Rev. Ann.
-4%
7.1%
8,562.48,2568,168.78,8339,338.57,186.15,858.15,975.56,189.55,753.46,402.76,944.1
Reconciled Depr. Ann.
5.3%
5.7%
1,543.91,564.21,451.11,358.31,338.21,321.31,1851,082.8970.7865.8925.9936.4
Profit From Continuing Operations Ann.
-
-
-47.3-386.53,842.12,292.82,243.52,028.81,9011,7601,455.61,134.41,515.31,277.9
Normalized EBITDA Ann.
5.9%
6.5%
5,407.45,103.54,972.54,662.84,294.63,993.73,718.13,534.73,113.22,717.63,262.32,972.5
*All financials are in USD Million and price data in USD
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Total Rev. Ann.
1Y CHG
-0.5%
2Y CAGR
-2.3%
3Y CAGR
-1.8%
5Y CAGR
6.3%
7Y CAGR
4.4%
10Y CAGR
2%
Total Revenue Annual is falling faster than historical averages.
Operating Exp. Ann.
1Y CHG
-9.4%
2Y CAGR
-6.8%
3Y CAGR
-2%
5Y CAGR
3.2%
7Y CAGR
2%
10Y CAGR
-1.8%
Operating Expenses Annual Cr is falling faster than historical averages.

Air Products & Chemicals balance sheet as of Sep 2025: assets, liabilities, reserves, and borrowings – 11 year history

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  • NEGATIVE

    Total Shareholders Fund Air Products & Chemicals Sep-2025 Total Shareholders Fund is $15,025 Million which is growth of -11.8% YoY.

  • POSITIVE

    Total Assets Air Products & Chemicals Sep-2025 Total Assets is $41,060 Million which is growth of 3.8% YoY.

Air Products & Chemicals Inc., Balance Sheet, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsSep '25Sep '24Sep '23Sep '22Sep '21Sep '20Sep '19Sep '18Sep '17Sep '16Sep '15
⌄
14.7%
10.3%
41,059.539,574.632,002.527,192.626,859.225,168.518,942.819,178.318,467.218,055.317,438.1
⌄
20.7%
13.3%
23,709.720,900.916,342.213,490.212,771.212,725.47,554.58,0028,281.710,841.910,057
⌄
4.6%
4.5%
15,024.917,036.514,312.913,14413,539.712,079.811,053.610,857.510,086.27,079.67,249
Total Capitalization Ann.
16.5%
10.4%
31,972.330,569.523,744.220,229.820,69019,509.914,28114,209.213,488.611,997.711,198.1
Tangible Assets Ann.
4.8%
5.1%
13,767.515,819.813,116.611,973.512,207.510,752.59,8379,630.18,996.45,441.45,609.4
Working Capital Ann.
-17.1%
-23.8%
1,607.22,183.41,304.72,817.15,577.26,268.22,797.42,743.93,387.71,034-737.3
Invested Capital Ann.
16.3%
10.4%
32,723.331,264.424,618.720,788.821,176.919,987.614,379.614,670.114,04913,304.813,128
Tangible Book Value Ann.
4.8%
5.1%
13,767.515,819.813,116.611,973.512,207.510,752.59,8379,630.18,996.45,441.45,609.4
Borrowings Ann.
30.3%
17.2%
18,406.215,006.111,031.68,326.98,219.28,314.33,3263,812.63,962.86,225.25,879
Net Debt Ann.
47.5%
42.9%
15,842.411,248.28,688.84,933.83,168.32,654.81,077.31,021.3689.24,723.95,672.6
Share Issued Ann.
0%
0%
249.5249.5249.5249.5249.5249.5249.5249.5249.5249.5249.5
Number Of Shares End
0.1%
0.1%
222.7222.5222.3222221.6221.5220.6219.3218.3217.3215.2
*All financials are in USD Million and price data in USD
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Total Assets Ann.
1Y CHG
3.8%
2Y CAGR
13.3%
3Y CAGR
14.7%
5Y CAGR
10.3%
7Y CAGR
11.5%
10Y CAGR
8.9%
Total Assets Annual growth is lower than historical averages.
Total Current Liabilities Ann.
1Y CHG
0.9%
2Y CAGR
4.1%
3Y CAGR
6.8%
5Y CAGR
11.8%
7Y CAGR
8.8%
10Y CAGR
1.5%
Total Current Liabilities Annual Cr growth is lower than historical averages.
Total ShareHolders Funds Ann.
1Y CHG
-11.8%
2Y CAGR
2.5%
3Y CAGR
4.6%
5Y CAGR
4.5%
7Y CAGR
4.8%
10Y CAGR
7.6%
Total ShareHolders Funds Annual is falling faster than historical averages.

Air Products & Chemicals ROE, ROCE, book value, and debt-to-equity ratio as of Sep 2025 – 11 year history

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  • NEGATIVE

    Book Value Per Share Air Products & Chemicals Book Value Per Share is $68 which is growth of -11.9% YoY.

  • POSITIVE

    ROE Air Products & Chemicals ROE is -2% which is growth of 26.9% YoY.

Air Products & Chemicals Inc., Ratios, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsSep '25Sep '24Sep '23Sep '22Sep '21Sep '20Sep '19Sep '18Sep '17Sep '16Sep '15
RoA Ann. %
-
-
-0.98%10.70%7.77%8.35%8.07%8.55%9.23%7.96%16.43%3.56%7.26%
ROE Ann. %
-
-
-2.46%24.42%16.76%16.91%16.39%16.31%16.06%14.30%34.96%8.81%17.49%
ROIC %
-59%
-40.1%
0.26.432.932.63.63.33.63.22.7
OPM Ann. %
8.1%
-1%
24.00%24.36%21.74%19.00%21.97%25.27%24.33%21.98%21.27%22.91%18.97%
Inventory Turnover Ratio Ann.
-17.8%
-6.3%
10.711.515.219.316.714.815.216.912.11010.2
Asset Turnover Ann. %
-15.7%
-5.6%
0.30.30.40.50.40.40.50.50.50.50.6
Working Capital Turnover Ann.
18.6%
39.9%
7.55.59.74.51.91.43.23.32.49.2-13.4
Quick Ratio Ann.
-9.8%
-19.2%
1.11.21.11.52.73.22.11.92.110.5
Current Ratio Ann.
-8%
-17.2%
1.41.51.31.833.62.52.22.41.30.8
Interest Coverage Ratio Ann.
-
-
-1.12317.222.518.723.217.716.412.719.517.8
LT Debt To Equity Ann.
26%
14.9%
1.20.80.70.60.60.60.30.30.30.70.5
*All financials are in USD Million and price data in USD
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Current Ratio Ann.
1Y CHG
-6.7%
2Y CAGR
3.8%
3Y CAGR
-8%
5Y CAGR
-17.2%
7Y CAGR
-6.3%
10Y CAGR
5.8%
Current Ratio Annual is falling faster than historical averages.

Air Products & Chemicals cash flow: net, operating, investing, and financing flows as of Sep 2025 – 11 year history

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  • NEGATIVE

    Cash From Operating Activity Air Products & Chemicals Sep-2025 Cash From Operating Activity is $3,257 Million which is growth of -10.7% YoY.

  • NEGATIVE

    Net Cash Flow Air Products & Chemicals Sep-2025 Net Cash Flow is $-1,117 Million which is growth of -183.2% YoY.

Air Products & Chemicals Inc., Cash Flow, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsSep '25Sep '24Sep '23Sep '22Sep '21Sep '20Sep '19Sep '18Sep '17Sep '16Sep '15
⌄
0.9%
0%
3,256.83,646.73,205.73,170.63,335.23,264.72,969.92,554.72,534.12,707.42,437.8
⌄
-
-
-7,168.7-4,919.2-5,916.4-3,857.2-2,732.9-3,560-2,113.4-1,649.1-1,417.7-972-1,599.7
⌄
-
-3.2%
2,795.22,615.41,609.6-1,000.6-1,420.93,284.7-1,370.5-1,359.8-2,040.9-271.1-945.4
Cash Plus Cash Eqv. End Of Year Ann.
-11.9%
-18.8%
1,8562,979.71,6172,7114,468.95,2532,248.72,791.33,273.61,501.3206.4
Net Increase In Cash Plus Cash Eqv.s Ann.
-
-
-1,116.71,342.9-1,100.5-1,627.6-811.92,989.4-514-448.41,929.41,287.4-107.3
Cash Plus Cash Eqv. Begin Of Year Ann.
-12.6%
5.8%
2,979.71,6172,7114,468.95,2532,248.72,791.33,273.61,330.8206.4336.6
Income Tax Paid Supplemental Data Ann.
-
-
940.7615.9---------
Interest Paid Supplemental Data Ann.
-
-
-----------
Capex Ann.
-
-
-7,022.6-6,796.7-4,626.4-2,926.5-2,464.2-2,509-1,989.7-1,568.4-1,039.7-1,055.8-1,614.8
Issuance Of Capital Stock Ann.
-
-
-----------
Issuance Of Debt Ann.
78.9%
-2.2%
4,386.74,678.33,784.4766.2178.94,895.80.52.4960.4338.8
Repayment Of Debt Ann.
-
-
-429.9-486.2-615.4-400-462.9-406.6-428.6-418.7-483.9-485-708.7
Repurchase Of Capital Stock Ann.
-
-
----------
Free Cash Flow Ann.
-
-
-3,765.8-3,150-1,420.7244.1871755.7980.2986.31,494.41,651.6823
*All financials are in USD Million and price data in USD
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Cash from Operating Act. Ann.
1Y CHG
-10.7%
2Y CAGR
0.8%
3Y CAGR
0.9%
5Y CAGR
0%
7Y CAGR
3.5%
10Y CAGR
2.9%
Cash from Operating Activity Annual is falling faster than historical averages.
Cash from Financing Act. Ann.
1Y CHG
6.9%
2Y CAGR
31.8%
5Y CAGR
-3.2%
Cash from Financing Annual Activity growth is stable compared to historical averages.
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