Financials · APD

Air Products and Chemicals Inc. (APD) financials

For the twelve months ended Jun 30, 2026, Air Products and Chemicals Inc. reported $12.60B of revenue and -$47.30M of net income.

Revenue, TTM
$12.60B
Revenue growth, YoY
+4.5%
Net income, TTM
-$47.30M
Net margin
-0.4%
Free cash flow, TTM
-$301.40M
EPS, diluted, TTM
-$0.21
Cash
$980.50M
P/S
5.39
Market cap
$67.88B
Annual revenue$12.04B
FY2016FY2025
Annual net income-$394.50M
FY2016FY2025
Annual free cash flow-$3.77B
FY2016FY2025

APD revenue and earnings growth

APD revenueQ3 2026$3.16B

Quarter YoY
+4.6%
QoQ
-0.3%
FY YoY
-0.5%
5Y CAGR
+6.3%
10Y CAGR
+4.4%

APD revenue was $3.16B in fiscal Q3 2026 (ended Jun 30, 2026), up 4.6% from a year earlier and down 0.3% from the prior quarter. For the full fiscal 2025 it was $12.04B, down 0.5% from fiscal 2024. Compound annual growth was +6.3% over 5 years and +4.4% over 10 years. It rose in 4 of the last 10 fiscal years.

APD net incomeQ3 2026-$1.44B

APD net income was -$1.44B in fiscal Q3 2026 (ended Jun 30, 2026), compared with $713.80M a year earlier. For the full fiscal 2025 it was -$394.50M, compared with $3.83B in fiscal 2024.

APD EPSQ3 2026-$6.47

APD diluted EPS was -$6.47 in fiscal Q3 2026 (ended Jun 30, 2026), compared with $3.20 a year earlier. For the full fiscal 2025 it was -$1.77, compared with $17.18 in fiscal 2024.

APD free cash flowQ3 2026$309.50M

APD free cash flow was $309.50M in fiscal Q3 2026 (ended Jun 30, 2026), compared with -$640.00M a year earlier. For the full fiscal 2025 it was -$3.77B, compared with -$3.15B in fiscal 2024.

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Income statement

Income statement
Line item
Sep 30, 2025
Sep 30, 2024
Sep 30, 2023
Sep 30, 2022
Sep 30, 2021
Sep 30, 2020
Sep 30, 2019
Sep 30, 2018
Sep 30, 2017
Sep 30, 2016
Revenue$12.04B$12.10B$12.60B$12.70B$10.32B$8.86B$8.92B$8.93B$8.19B$7.50B
Cost of revenue$8.26B$8.17B$8.83B$9.34B$7.19B$5.86B$5.98B$6.19B$5.75B$5.18B
Gross profit$3.78B$3.93B$3.77B$3.36B$3.14B$3.00B$2.91B$2.74B$2.44B$2.33B
Research and development$96.30M$100.20M$105.60M$102.90M$93.50M$83.90M$72.90M$64.50M$57.60M$71.80M
Selling, general and admin$906.10M$942.40M$957.00M$900.60M$828.40M$775.90M$750.00M$760.80M$713.50M$683.80M
Operating income-$877.00M$4.47B$2.49B$2.34B$2.28B$2.24B$2.14B$1.97B$1.44B$1.54B
Interest expense$214.00M$218.80M$177.50M$128.00M$141.80M$109.30M$137.00M$130.50M$120.60M$115.20M
Pre-tax income-$440.70M$4.82B$2.88B$2.75B$2.51B$2.42B$2.29B$2.02B$1.42B$1.55B
Income tax-$94.30M$944.90M$551.20M$500.80M$462.80M$478.40M$480.10M$524.30M$260.90M$432.60M
Net income-$394.50M$3.83B$2.30B$2.26B$2.10B$1.89B$1.76B$1.50B$3.00B$631.10M
EPS, basic-$1.77$17.21$10.35$10.16$9.47$8.53$7.99$6.83$13.76$2.92
EPS, diluted-$1.77$17.18$10.33$10.14$9.43$8.49$7.94$6.78$13.65$2.89
Diluted shares222.7M222.8M222.7M222.5M222.5M222.3M221.6M220.8M219.8M218.3M

Balance sheet

Balance sheet
Line item
Sep 30, 2025
Sep 30, 2024
Sep 30, 2023
Sep 30, 2022
Sep 30, 2021
Sep 30, 2020
Sep 30, 2019
Sep 30, 2018
Sep 30, 2017
Sep 30, 2016
Cash and equivalents$1.86B$2.98B$1.62B$2.71B$4.47B$5.25B$2.25B$2.79B$3.27B$1.29B
Short-term investments$0$5.00M$332.20M$590.70M$1.33B$1.10B$166.00M$184.70M$404.00M$0
Receivables$1.90B$1.82B$1.70B$1.79B$1.45B$1.27B$1.26B$1.21B$1.17B$1.15B
Inventory$776.50M$766.00M$651.80M$514.20M$453.90M$404.80M$388.30M$396.10M$335.40M$255.00M
Current assets$5.83B$6.36B$5.20B$6.28B$8.38B$8.68B$4.62B$5.08B$5.88B$4.32B
Goodwill$963.90M$905.10M$861.70M$823.00M$911.50M$891.50M$797.10M$788.90M$721.50M$845.10M
Total assets$41.06B$39.57B$32.00B$27.19B$26.86B$25.17B$18.94B$19.18B$18.47B$18.03B
Current liabilities$4.22B$4.18B$3.90B$3.47B$2.80B$2.42B$1.82B$2.34B$2.49B$3.28B
Short-term debt$34.70M$83.50M$259.50M$10.70M$2.40M$7.70M$58.20M$54.30M$144.00M$935.80M
Long-term debt---$6.43B$6.88B$7.13B$2.91B$2.97B$3.40B$3.91B
Total debt$17.66B$14.14B$10.05B$6.44B$6.88B$7.14B$2.97B$3.02B$3.55B$4.85B
Total liabilities$23.71B$20.90B$16.34B$13.49B$12.77B$12.73B$7.55B$8.00B$8.28B$10.82B
Shareholders' equity$15.02B$18.67B$15.66B$13.70B$14.09B$12.44B$11.39B$11.18B$10.19B$7.21B

Cash flow

Cash flow
Line item
Sep 30, 2025
Sep 30, 2024
Sep 30, 2023
Sep 30, 2022
Sep 30, 2021
Sep 30, 2020
Sep 30, 2019
Sep 30, 2018
Sep 30, 2017
Sep 30, 2016
Operating cash flow$3.26B$3.65B$3.21B$3.17B$3.34B$3.26B$2.97B$2.55B$2.53B$2.26B
Capital expenditures$7.02B$6.80B$4.63B$2.93B$2.46B$2.51B$1.99B$1.57B$1.04B$907.70M
Free cash flow-$3.77B-$3.15B-$1.42B$244.10M$871.00M$755.70M$980.20M$978.80M$1.49B$1.35B
Investing cash flow-$7.17B-$4.92B-$5.92B-$3.86B-$2.73B-$3.56B-$2.11B-$1.64B-$1.41B-$864.80M
Financing cash flow$2.80B$2.62B$1.61B-$1.00B-$1.42B$3.28B-$1.37B-$1.36B-$2.04B-$860.20M
Dividends paid$1.58B$1.56B$1.50B$1.38B$1.26B$1.10B$994.00M$897.80M$787.90M$721.20M
Stock-based compensation$76.40M$61.80M$59.90M$48.40M$44.50M$53.50M$41.20M$38.80M$39.90M$31.00M
Depreciation and amortization$1.56B$1.45B$1.36B$1.34B$1.32B$1.19B$1.08B$970.70M$865.80M$854.60M

Key ratios

Key ratios
Line item
Sep 30, 2025
Sep 30, 2024
Sep 30, 2023
Sep 30, 2022
Sep 30, 2021
Sep 30, 2020
Sep 30, 2019
Sep 30, 2018
Sep 30, 2017
Sep 30, 2016
Revenue growth, YoY-0.5%-4.0%-0.8%23.0%16.6%-0.7%-0.1%9.1%9.1%-4.1%
Net income growth, YoY-66.4%2.0%7.5%11.3%7.2%17.5%-50.1%375.4%-50.6%
EPS growth, YoY-66.3%1.9%7.5%11.1%6.9%17.1%-50.3%372.3%-50.9%
Gross margin31.4%32.5%29.9%26.5%30.4%33.9%32.7%30.7%29.8%31.0%
Operating margin-7.3%36.9%19.8%18.4%22.1%25.3%24.0%22.0%17.6%20.5%
Net margin-3.3%31.6%18.3%17.8%20.3%21.3%19.7%16.8%36.6%8.4%
Free cash flow margin-31.3%-26.0%-11.3%1.9%8.4%8.5%11.0%11.0%18.2%18.0%
Return on equity-2.6%20.5%14.7%16.5%14.9%15.2%15.5%13.4%29.5%8.7%
Return on assets-1.0%9.7%7.2%8.3%7.8%7.5%9.3%7.8%16.2%3.5%
Current ratio1.381.521.331.812.993.592.542.172.361.32
Debt to equity1.180.760.640.470.490.570.260.270.350.67

Source: XBRL data Air Products and Chemicals Inc. files with the SEC, latest filing dated Jul 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

APD peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
APD$12.60B+4.5%-$47.30M-0.4%$67.88B
LIN$36.24B+8.2%$7.01B19.3%$236.54B
DOW$42.61B+4.2%-$897.00M-2.1%$22.73B
IFF$11.69B+24.3%$182.00M1.6%$20.69B
LYB$31.96B+3.5%$1.30B4.1%$19.63B
DD$7.06B+3.2%$301.00M4.3%$19.42B
ALB$6.15B+24.4%$681.63M11.1%$11.71B
SOLS$4.17B+9.4%$325.00M7.8%$9.12B
WLK$11.44B-0.4%-$424.00M-3.7%$8.12B

APD FAQ

9 questions
  • What is APD revenue?
    Air Products and Chemicals Inc. (APD) reported $12.60B of revenue for the twelve months ended Jun 30, 2026. That is up 4.5% from the year before. Revenue for fiscal 2025 was $12.04B.
  • Is APD profitable?
    No. Air Products and Chemicals Inc. reported a net loss of $47.30M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does APD have?
    Air Products and Chemicals Inc. reported $980.50M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is APD revenue growing?
    Air Products and Chemicals Inc.'s revenue changed -0.5% in fiscal 2025, to $12.04B. Its compound annual growth rate was +6.3% over 5 years and +4.4% over 10 years.
  • What is APD gross margin?
    Air Products and Chemicals Inc.'s gross profit was $4.04B on $12.60B of revenue for the twelve months ended Jun 30, 2026, a gross margin of 32.1%.
  • What is APD free cash flow?
    Air Products and Chemicals Inc. generated -$301.40M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of $4.57B less capital expenditures.
  • What is APD earnings per share?
    Diluted earnings per share were -$0.21 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did APD last report financial results?
    The latest statements here come from Air Products and Chemicals Inc.'s 10-Q filed on Jul 30, 2026, covering the period ended Jun 30, 2026.
  • Where does this APD financial data come from?
    Quantisnow builds these statements from the structured XBRL data Air Products and Chemicals Inc. files with the SEC. It is provided for information only and is not investment advice.