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Air Products and Chemicals, Inc. logo

Air Products and Chemicals, Inc.

APD

NYSEBasic MaterialsChemicals - Specialty

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$305.1

+$4.77 · +1.59%

Aug 21, 4:00 PM ET

APD company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

49

Fair Value

Momentum

55

Neutral

Sentiment

66

Bullish

Risk resilience

75

Moderate Risk

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Company profile

Company website

Operating globally, Air Products and Chemicals, Inc. (APD) is a prominent supplier of industrial gases, specialized equipment, and associated services. The company's diverse product range includes atmospheric gases such as oxygen, nitrogen, and argon, as well as various process gases like hydrogen, helium, carbon dioxide, carbon monoxide, and syngas. They also provide a selection of specialty gases. APD is involved in the fabrication of crucial machinery for gas production and handling, including air separation units and non-cryogenic generators. These products and services cater to a broad spectrum of industries, including but not limited to refining, chemical processing, gasification, metals production, general manufacturing, food and beverage, electronics, medical imaging, and energy generation. Moreover, the company's capabilities extend to designing and manufacturing advanced systems for air separation, hydrocarbon recovery and purification, the liquefaction of natural gas, and the secure transportation and storage of liquid helium and hydrogen. APD also engages in a strategic partnership with Baker Hughes Company to further innovate hydrogen compression systems. The firm was established in 1940 and is based in Allentown, Pennsylvania.

Industry
Chemicals - Specialty
Sector
Basic Materials
Headquarters
US
CEO
Eduardo F. Menezes
Listed since
Mar 17, 1980
Employees
21,194

Market position

Day range

Current $305.1

52-week range

Current $305.1

Open
$301.82
Previous close
$300.33
Volume
1.05M
0.88× average
Average volume
1.2M
Average daily volume
Market cap
67.94B USD
Beta
0.75
Market reference 1
50-day average
$295.16
+3.37% above average
200-day average
$279.98
+8.97% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
77.31B USD
EV / EBITDA
57.8×
Earnings yield
-0.65%
Free cash flow yield
-6.20%

Profitability & efficiency

Return on equity
-2.63%
Return on assets
-0.96%
Return on invested capital
-1.82%

Financial health

Current ratio
1.38×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends41%24%6%-12%Gross margin, FY2021: 30.39%Gross margin, FY2022: 26.46%Gross margin, FY2023: 29.90%Gross margin, FY2024: 32.49%Gross margin, FY2025: 31.41%Operating margin, FY2021: 22.10%Operating margin, FY2022: 18.42%Operating margin, FY2023: 19.80%Operating margin, FY2024: 36.91%Operating margin, FY2025: -7.29%Net margin, FY2021: 20.33%Net margin, FY2022: 17.77%Net margin, FY2023: 18.26%Net margin, FY2024: 31.64%Net margin, FY2025: -3.28%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 30.39%. Gross margin FY2022 26.46%. Gross margin FY2023 29.90%. Gross margin FY2024 32.49%. Gross margin FY2025 31.41%. Operating margin FY2021 22.10%. Operating margin FY2022 18.42%. Operating margin FY2023 19.80%. Operating margin FY2024 36.91%. Operating margin FY2025 -7.29%. Net margin FY2021 20.33%. Net margin FY2022 17.77%. Net margin FY2023 18.26%. Net margin FY2024 31.64%. Net margin FY2025 -3.28%.

Income trends

Revenue

12.04B USD-0.52%

Operating income

−877M USD−5.34B USD

Net income

−394.5M USD−4.22B USD
Income trends across reported periods14.06B USD8.63B USD3.2B USD−2.23B USDRevenue, FY2021: 10.32B USDRevenue, FY2022: 12.7B USDRevenue, FY2023: 12.6B USDRevenue, FY2024: 12.1B USDRevenue, FY2025: 12.04B USDOperating income, FY2021: 2.28B USDOperating income, FY2022: 2.34B USDOperating income, FY2023: 2.49B USDOperating income, FY2024: 4.47B USDOperating income, FY2025: −877M USDNet income, FY2021: 2.1B USDNet income, FY2022: 2.26B USDNet income, FY2023: 2.3B USDNet income, FY2024: 3.83B USDNet income, FY2025: −394.5M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 10.32B USD. Revenue FY2022 12.7B USD. Revenue FY2023 12.6B USD. Revenue FY2024 12.1B USD. Revenue FY2025 12.04B USD. Operating income FY2021 2.28B USD. Operating income FY2022 2.34B USD. Operating income FY2023 2.49B USD. Operating income FY2024 4.47B USD. Operating income FY2025 −877M USD. Net income FY2021 2.1B USD. Net income FY2022 2.26B USD. Net income FY2023 2.3B USD. Net income FY2024 3.83B USD. Net income FY2025 −394.5M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue12.04B USD12.1B USD12.6B USD12.7B USD10.32B USD
Cost of goods sold8.26B USD8.17B USD8.83B USD9.34B USD7.19B USD
Gross profit3.78B USD3.93B USD3.77B USD3.36B USD3.14B USD
Research and development96.3M USD100.2M USD105.6M USD102.9M USD93.5M USD
Selling, general, and administrative906.1M USD942.4M USD957M USD900.6M USD828.4M USD
Operating expenses4.66B USD−534.2M USD1.27B USD1.02B USD869.1M USD
Interest expense214M USD218.8M USD177.5M USD128M USD141.8M USD
Depreciation and amortization1.56B USD1.45B USD1.36B USD1.34B USD1.32B USD
Operating income−877M USD4.47B USD2.49B USD2.34B USD2.28B USD
Net income−394.5M USD3.83B USD2.3B USD2.26B USD2.1B USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
73%
8 beats, 3 misses, 0 met estimates
Average EPS surprise
+0.94%
11 comparable reports
Latest EPS result
3.47
Estimate 3.34 · Beat by 3.89%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates3.743.342.952.55Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 2.86, estimate 3.13, surprise -8.63%, Miss. Q2 2025, reported May 1, 2025: actual 2.69, estimate 2.83, surprise -4.95%, Miss. Q3 2025, reported Jul 31, 2025: actual 3.09, estimate 2.99, surprise +3.34%, Beat. Q4 2025, reported Nov 6, 2025: actual 3.39, estimate 3.38, surprise +0.30%, Beat. Q1 2026, reported Jan 30, 2026: actual 3.16, estimate 3.04, surprise +3.95%, Beat. Q2 2026, reported Apr 30, 2026: actual 3.2, estimate 3.06, surprise +4.58%, Beat. Q3 2026, reported Jul 30, 2026: actual 3.47, estimate 3.34, surprise +3.89%, Beat. Q4 2026, reported Nov 5, 2026: actual —, estimate 3.6, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates3.45B3.23B3B2.78BQ1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 6, 2025: actual 2.93B USD, estimate 2.95B USD, surprise -0.66%, Miss. Q2 2025, reported May 1, 2025: actual 2.92B USD, estimate 2.92B USD, surprise -0.08%, Miss. Q3 2025, reported Jul 31, 2025: actual 3.02B USD, estimate 2.99B USD, surprise +1.15%, Beat. Q4 2025, reported Nov 6, 2025: actual 3.17B USD, estimate 3.18B USD, surprise -0.29%, Miss. Q1 2026, reported Jan 30, 2026: actual 3.1B USD, estimate 3.05B USD, surprise +1.67%, Beat. Q2 2026, reported Apr 30, 2026: actual 3.17B USD, estimate 3.07B USD, surprise +3.32%, Beat. Q3 2026, reported Jul 30, 2026: actual 3.16B USD, estimate 3.2B USD, surprise -1.28%, Miss. Q4 2026, reported Nov 5, 2026: actual —, estimate 3.31B USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$346.44

13.55% upside
Past 12 months12-month forecastHigh $373Average $346.44Low $320

Recent analyst actions

12 institutions

APD news

defenseworld.net

1,689,067 Shares in Air Products and Chemicals, Inc. $APD Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in Air Products and Chemicals, Inc. (NYSE: APD) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission…

Read source
zacks.com

Here's Why You Should Retain Air Products Stock in Your Portfolio

Air Products benefits from high-return projects, productivity gains and new deals, despite helium pricing and European market headwinds.

Read source
zacks.com

4 Diversified Chemical Stocks to Gain Amid Stable End-market Demand

The Zacks Chemicals Diversified is expected to benefit from healthy demand across major end-use markets and the end of destocking activities. APD, DD, AVNT and IOSP are set to gain from strategic actions and demand…

Read source
defenseworld.net

BlackRock Inc. Acquires New Position in Air Products and Chemicals, Inc. $APD

BlackRock Inc. bought a new position in shares of Air Products and Chemicals, Inc. (NYSE: APD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission…

Read source
zacks.com

All You Need to Know About Air Products and Chemicals (APD) Rating Upgrade to Buy

Air Products and Chemicals (APD) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Read source
defenseworld.net

Abner Herrman & Brock LLC Sells 5,656 Shares of Air Products and Chemicals, Inc. $APD

Abner Herrman and Brock LLC cut its position in Air Products and Chemicals, Inc. (NYSE: APD) by 67.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The…

Read source

Corporate actions

Corporate action history

Stock split

Effective Oct 3, 2016

1,081:1,000

Stock split

Effective Jun 16, 1998

2:1

Stock split

Effective Mar 10, 1992

2:1

Stock split

Effective Jun 6, 1986

2:1

Stock split

Effective Jan 25, 1977

51:50

Stock split

Effective Jul 28, 1976

2:1

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ETFs holding APD

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
2.09B
Weight
0.09%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$378.24+0.44%
Vanguard S&P 500 ETF logoVanguard S&P 500 ETFVOO
Market value
1.72B
Weight
0.10%
AUM
1.7T USD
Expense ratio
0.03%
Price / 1D
$703.71+0.39%
iShares Core S&P 500 ETF logoiShares Core S&P 500 ETFIVV
Market value
901.31M
Weight
0.10%
AUM
891.84B USD
Expense ratio
0.03%
Price / 1D
$769.31+0.39%
State Street SPDR S&P 500 ETF logoState Street SPDR S&P 500 ETFSPY
Market value
832.02M
Weight
0.10%
AUM
817.87B USD
Expense ratio
0.09%
Price / 1D
$765.72+0.41%
Vanguard Morningstar Mid-Cap ETF logoVanguard Morningstar Mid-Cap ETFVO
Market value
710.58M
Weight
0.31%
AUM
224.7B USD
Expense ratio
0.03%
Price / 1D
$82.97+0.53%
Vanguard Morningstar Value ETF logoVanguard Morningstar Value ETFVTV
Market value
625.43M
Weight
0.24%
AUM
256.5B USD
Expense ratio
0.03%
Price / 1D
$226.4+0.54%
State Street Materials Select Sector SPDR ETF logoState Street Materials Select Sector SPDR ETFXLB
Market value
409.83M
Weight
4.72%
AUM
8.69B USD
Expense ratio
0.08%
Price / 1D
$53.54+2.14%
Vanguard Dividend Appreciation ETF logoVanguard Dividend Appreciation ETFVIG
Market value
371.54M
Weight
0.28%
AUM
130.9B USD
Expense ratio
0.04%
Price / 1D
$243.91+0.69%

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