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Air Products and Chemicals, Inc.

Air Products and Chemicals, Inc.

NYSE•APD
CEO: Ms. Melissa N. Schaeffer
Sector: Basic Materials
Industry: Chemicals - Specialty
Listing Date: 1980-03-17
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, 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. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.
Contact Information
1940 Air Products Boulevard, Allentown, PA, 18106-5500, United States
610-481-4911
www.airproducts.com
Market Cap
$58.23B
P/E (TTM)
-147.8
19.2
Dividend Yield
2.7%
52W High
$341.14
52W Low
$235.55
52W Range
25%
Rank33Top 18.8%
5.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q4 2025 Data

Revenue

$3.17B-0.65%
4-Quarter Trend

EPS

$0.02-100.26%
4-Quarter Trend

FCF

-$256.50M-77.06%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Portfolio Reshaping Focus Decisive actions taken in FY2025 included project exits, emphasizing core industrial gas focus under new leadership.
Adjusted Earnings Decline Adjusted operating income reached $2.86B USD, down 3%; adjusted EPS was $12.03 USD, also down 3%.
Consistent Dividend Growth Returned $1.6B USD via dividends, marking 43 consecutive years of increasing shareholder payouts.
Hydrogen Project Advances NEOM Green Hydrogen Project construction shows progress; green ammonia delivery expected to commence in 2027.

Risk Factors

GAAP Loss Driven by Charges GAAP operating loss reached ($877.0M) USD, driven by $3.7B USD in pre-tax business and asset charges.
Sales Decline Volume Impact Consolidated sales fell 1% ($63.3M USD) due to 4% volume decline, reflecting weak economic conditions and project exits.
Regulatory Project Cancellation Risk Project execution risk realized with cancellation of US green hydrogen project due to regulatory changes impacting incentives.
Cybersecurity Program Focus Cybersecurity risk management remains critical; program focuses on predicting, preventing, and responding to enterprise threats.

Outlook

FY2026 Earnings Growth Expected Fiscal year 2026 outlook targets earnings growth driven by new plant onstreams and continued pricing discipline.
Capital Spending Moderation Capital expenditures forecast for fiscal year 2026 expected around $4B USD, funded by existing cash and operations.
Cost Discipline Priority Cost discipline is top priority to mitigate inflationary pressures and ongoing helium headwinds while rewarding shareholders.

Peer Comparison

Revenue (TTM)

BHP Group LimitedBHP
$107.29B
-10.1%
Vale S.A.VALE
$36.93B
-9.8%
Freeport-McMoRan Inc.FCX
$25.99B
+3.7%

Gross Margin (Latest Quarter)

BHP Group LimitedBHP
126.1%
+3.3pp
Wheaton Precious Metals Corp.WPM
70.2%
+7.9pp
The Sherwin-Williams CompanySHW
49.2%
+0.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BHP$299.34B13.124.8%22.5%
SHW$83.32B32.160.5%51.8%
ECL$74.96B37.821.6%36.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
2.6%
Moderate Growth
4Q Net Income CAGR
-80.1%
Declining Profitability
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years

  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Nov 20, 2025|
    Revenue: $12.04B-0.5%
    |
    EPS: $-1.77-110.3%
    Miss

  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $3.02B+1.3%
    |
    EPS: $3.20+2.2%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $2.92B-0.5%
    |
    EPS: $-7.77-402.3%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Feb 6, 2025|
    Revenue: $2.93B-2.2%
    |
    EPS: $2.77+1.1%
    Miss

  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Nov 21, 2024|
    Revenue: $12.10B-4.0%
    |
    EPS: $17.21+66.9%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $2.99B-1.6%
    |
    EPS: $3.13+16.8%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Mar 31, 2024|Filed: Apr 30, 2024|
    Revenue: $2.93B-8.4%
    |
    EPS: $2.57+29.8%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Dec 31, 2023|Filed: Feb 5, 2024|
    Revenue: $3.00B-5.6%
    |
    EPS: $2.74+6.2%
    Miss