AIR PRODUCTS AND CHEMICALS, INC. financials

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APD CIK 0000002969

Source: EDGAR filings · raw companyfacts JSON · Built 2026-04-25T09:54:56Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Free Cash Flow -3.77B -3.15B -1.42B 244.10M 871.00M 755.70M
EBITDA 687.20M 5.92B 3.85B 3.68B 3.60B 3.42B
Working Capital 1.61B 2.18B 1.30B 2.82B 5.58B 6.27B
Net Debt 16.58B 12.11B 9.67B 5.63B 3.75B 3.07B
Gross Margin 31.41% 32.49% 29.90% 26.46% 30.39% 33.85%
Operating Margin -7.29% 36.91% 19.80% 18.42% 22.10% 25.27%
Net Margin -3.28% 31.64% 18.26% 17.77% 20.33% 21.30%
Return on Equity (ROE) -2.63% 22.47% 16.07% 17.16% 15.50% 15.62%
Return on Assets (ROA) -0.96% 9.67% 7.19% 8.30% 7.82% 7.50%
Current Ratio 1.381 1.5224 1.3349 1.8128 2.9925 3.5937
Debt-to-Equity 1.2274 0.8857 0.7889 0.6343 0.6072 0.6889
Effective Tax Rate 21.40% 19.60% 19.12% 18.18% 18.46% 19.74%
Cash Conversion Ratio -8.2555 0.9526 1.3937 1.4053 1.5889 1.7304
Accruals Ratio -0.0889 0.0046 -0.0283 -0.0336 -0.046 -0.0548
SBC % of Revenue 0.63% 0.51% 0.48% 0.38% 0.43% 0.60%
CapEx Coverage 0.4638 0.5365 0.6929 1.0834 1.3535 1.3012
Free Cash Flow Per Share $-16.91 $-14.14 $-6.38 $1.10 $3.91 $3.40

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
P/E Trailing (Diluted) — 17.3306 27.4347 22.9517 27.1591 35.0836
P/FCF — — — 212.132 65.4243 87.6188
FCF Yield — — — 0.47% 1.53% 1.14%
EV / EBITDA 112.4697 13.2358 18.8548 15.5712 16.7804 20.1313
P/S 5.043 5.4716 4.9977 4.0657 5.4928 7.4334
P/B 4.0402 3.8863 4.3996 3.9279 4.1878 5.4498

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenues 12.04B 12.10B 12.60B 12.70B 10.32B 8.86B
Cost of Goods and Services Sold 8.26B 8.17B 8.83B 9.34B 7.19B 5.86B
Gross Profit — — — — — 3.00B
Research and Development Expense 96.30M 100.20M 105.60M 102.90M 93.50M 83.90M
Selling, General and Administrative Expense 906.10M 942.40M 957.00M 900.60M 828.40M 775.90M
Operating Income (Loss) -877.00M 4.47B 2.49B 2.34B 2.28B 2.24B
Income Tax Expense (Benefit) -94.30M 944.90M 551.20M 500.80M 462.80M 478.40M
Net Income (Loss) Attributable to Parent -394.50M 3.83B 2.30B 2.26B 2.10B 1.89B
Earnings Per Share, Basic $-1.77 $17.21 $10.35 $10.16 $9.47 $8.53
Weighted Average Number of Shares Outstanding, Basic 222.70M 222.50M 222.30M 222.00M 221.60M 221.20M
Earnings Per Share, Diluted $-1.77 $17.18 $10.33 $10.14 $9.43 $8.49
Weighted Average Number of Shares Outstanding, Diluted 222.70M 222.80M 222.70M 222.50M 222.50M 222.30M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash and Cash Equivalents, at Carrying Value 1.86B 2.98B 1.62B 2.71B 4.47B 5.25B
Assets, Current 5.83B 6.36B 5.20B 6.28B 8.38B 8.68B
Assets 41.06B 39.57B 32.00B 27.19B 26.86B 25.17B
Liabilities, Current 4.22B 4.18B 3.90B 3.47B 2.80B 2.42B
Liabilities 23.71B 20.90B 16.34B 13.49B 12.77B 12.73B
Stockholders' Equity Attributable to Parent 15.02B 17.04B 14.31B 13.14B 13.54B 12.08B
Common Stock, Shares, Outstanding 222.59M 222.37M 222.20M 221.84M 221.40M 221.02M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Payments to Acquire Property, Plant, and Equipment 7.02B 6.80B 4.63B 2.93B 2.46B 2.51B

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

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Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

Income Statement

20 concepts 3 units
Unit US$ · 14 concepts
Label Value Period
Revenues 3.10B 2025-10-01 → 2025-12-31
Cost of Goods and Services Sold 2.11B 2025-10-01 → 2025-12-31
Research and Development Expense 20.40M 2025-10-01 → 2025-12-31
Restructuring Charges 22.00M 2025-10-01 → 2025-12-31
Selling, General and Administrative Expense 228.70M 2025-10-01 → 2025-12-31
Operating Income (Loss) 734.50M 2025-10-01 → 2025-12-31
Other Nonoperating Income (Expense) -1.40M 2025-10-01 → 2025-12-31
InterestExpenseNonoperating 54.50M 2025-10-01 → 2025-12-31
Income (Loss) from Equity Method Investments 172.20M 2025-10-01 → 2025-12-31
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 850.80M 2025-10-01 → 2025-12-31
Income Tax Expense (Benefit) 159.40M 2025-10-01 → 2025-12-31
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 691.40M 2025-10-01 → 2025-12-31
Net Income (Loss) Attributable to Noncontrolling Interest 13.20M 2025-10-01 → 2025-12-31
Net Income (Loss) Attributable to Parent 678.20M 2025-10-01 → 2025-12-31
Unit shares · 3 concepts
Label Value Period
Weighted Average Number of Shares Outstanding, Basic 222.80M 2025-10-01 → 2025-12-31
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 100,000 2025-10-01 → 2025-12-31
Weighted Average Number of Shares Outstanding, Diluted 222.90M 2025-10-01 → 2025-12-31
Unit US$ / share · 3 concepts
Label Value Period
Earnings Per Share, Basic $3.04 2025-10-01 → 2025-12-31
Earnings Per Share, Diluted $3.04 2025-10-01 → 2025-12-31
Common Stock, Dividends, Per Share, Declared $1.79 2025-10-01 → 2025-12-31

Comprehensive Income

12 concepts 1 unit
Unit US$ · 12 concepts
Label Value Period
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax 73.50M 2025-10-01 → 2025-12-31
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax 9.30M 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax 35.50M 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax -16.60M 2025-10-01 → 2025-12-31
Comprehensive Income (Loss), Net of Tax, Attributable to Parent 788.90M 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest 24.20M 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Net of Tax 134.90M 2025-10-01 → 2025-12-31
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest 826.30M 2025-10-01 → 2025-12-31
OCI, Foreign Currency Transaction and Translation Gain (Loss), Arising During Period, Tax -1.20M 2025-10-01 → 2025-12-31
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, Tax 3.40M 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 900.00K 2025-10-01 → 2025-12-31
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, Tax -4.80M 2025-10-01 → 2025-12-31

Balance Sheet

51 concepts 3 units
Unit US$ · 48 concepts
Label Value Period
Cash and Cash Equivalents, at Carrying Value 1.03B as of 2025-12-31
Accounts Receivable, after Allowance for Credit Loss, Current 1.89B as of 2025-12-31
Inventory, Finished Goods, Gross 199.50M as of 2025-12-31
Inventory, Work in Process, Gross 38.60M as of 2025-12-31
Inventory, Raw Materials and Supplies, Gross 550.00M as of 2025-12-31
Inventory, Net 788.10M as of 2025-12-31
Prepaid Expense, Current 163.80M as of 2025-12-31
Contract with Customer, Asset, after Allowance for Credit Loss, Current 142.00M as of 2025-12-31
Capitalized Contract Cost, Net, Current 91.50M as of 2025-12-31
Other Assets, Current 757.40M as of 2025-12-31
Financing Receivable, after Allowance for Credit Loss 964.60M as of 2025-12-31
Disposal Group, Including Discontinued Operation, Assets, Current 472.60M as of 2025-12-31
Assets, Current 5.10B as of 2025-12-31
Operating Lease, Right-of-Use Asset 925.20M as of 2025-12-31
Property, Plant and Equipment, Gross 43.79B as of 2025-12-31
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment 17.64B as of 2025-12-31
Property, Plant and Equipment, Net 26.14B as of 2025-12-31
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 5.44B as of 2025-12-31
NetInvestmentInLeaseExcludingAccruedInterestAfterAllowanceForCreditLossNoncurrent 299.60M as of 2025-12-31
Goodwill 971.50M as of 2025-12-31
Intangible Assets, Net (Excluding Goodwill) 294.40M as of 2025-12-31
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent 102.50M as of 2025-12-31
Capitalized Contract Cost, Net, Noncurrent 37.10M as of 2025-12-31
Other Assets, Noncurrent 1.10B as of 2025-12-31
Assets, Noncurrent 36.14B as of 2025-12-31
Assets 41.24B as of 2025-12-31
Accrued Income Taxes, Current 174.50M as of 2025-12-31
Accounts Payable and Accrued Liabilities, Current 3.04B as of 2025-12-31
Contract with Customer, Liability, Current 250.20M as of 2025-12-31
Short-term Debt 66.70M as of 2025-12-31
Long-term Debt and Lease Obligation, Current 169.80M as of 2025-12-31
Disposal Group, Including Discontinued Operation, Liabilities, Current 51.60M as of 2025-12-31
Liabilities, Current 3.50B as of 2025-12-31
Contract with Customer, Liability, Noncurrent 281.80M as of 2025-12-31
Deferred Income Tax Liabilities, Net 661.90M as of 2025-12-31
Other Liabilities, Noncurrent 1.34B as of 2025-12-31
Operating Lease, Liability, Noncurrent 607.00M as of 2025-12-31
Liabilities, Noncurrent 19.91B as of 2025-12-31
Liabilities 23.40B as of 2025-12-31
Common Stock, Value, Issued 249.40M as of 2025-12-31
Additional Paid in Capital, Common Stock 1.31B as of 2025-12-31
Treasury Stock, Common, Value 2.00B as of 2025-12-31
Accumulated Other Comprehensive Income (Loss), Net of Tax -1.98B as of 2025-12-31
Retained Earnings (Accumulated Deficit) 17.84B as of 2025-12-31
Stockholders' Equity Attributable to Parent 15.41B as of 2025-12-31
Stockholders' Equity Attributable to Noncontrolling Interest 2.43B as of 2025-12-31
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest 17.84B as of 2025-12-31
Liabilities and Equity 41.24B as of 2025-12-31
Unit shares · 2 concepts
Label Value Period
Common Stock, Shares, Issued 249.46M as of 2025-12-31
Treasury Stock, Common, Shares 26.80M as of 2025-12-31
Unit US$ / share · 1 concept
Label Value Period
Common Stock, Par or Stated Value Per Share $1.00 as of 2025-12-31

Cash Flow Statement

32 concepts 1 unit
Unit US$ · 32 concepts
Label Value Period
Depreciation, Depletion and Amortization 370.70M 2025-10-01 → 2025-12-31
Proceeds from Sales of Assets, Investing Activities 26.10M 2025-10-01 → 2025-12-31
Share-based Payment Arrangement, Noncash Expense 10.60M 2025-10-01 → 2025-12-31
Payments to Acquire Short-term Investments 0 2025-10-01 → 2025-12-31
Proceeds from Sale, Maturity and Collection of Short-term Investments 0 2025-10-01 → 2025-12-31
Gain (Loss) on Sale of Investments 2.20M 2025-10-01 → 2025-12-31
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions 28.50M 2025-10-01 → 2025-12-31
Deferred Income Tax Expense (Benefit) 78.20M 2025-10-01 → 2025-12-31
Income Taxes Paid, Net 109.10M 2025-10-01 → 2025-12-31
Increase (Decrease) in Accounts Receivable -6.10M 2025-10-01 → 2025-12-31
Increase (Decrease) in Leasing Receivables -12.00M 2025-10-01 → 2025-12-31
Increase (Decrease) in Other Receivables 27.80M 2025-10-01 → 2025-12-31
Increase (Decrease) in Inventories 11.00M 2025-10-01 → 2025-12-31
Increase (Decrease) in Accounts Payable and Accrued Liabilities -191.30M 2025-10-01 → 2025-12-31
Increase (Decrease) in Other Operating Assets and Liabilities, Net -8.90M 2025-10-01 → 2025-12-31
Other Operating Activities, Cash Flow Statement -25.20M 2025-10-01 → 2025-12-31
Net Cash Provided by (Used in) Operating Activities 900.70M 2025-10-01 → 2025-12-31
Payments to Acquire Property, Plant, and Equipment 1.25B 2025-10-01 → 2025-12-31
Payments to Acquire Finance Receivables 0 2025-10-01 → 2025-12-31
Payments to Acquire Interest in Subsidiaries and Affiliates 20.00M 2025-10-01 → 2025-12-31
Payments for (Proceeds from) Other Investing Activities -2.20M 2025-10-01 → 2025-12-31
Net Cash Provided by (Used in) Investing Activities -1.24B 2025-10-01 → 2025-12-31
Proceeds from (Repayments of) Short-term Debt 67.30M 2025-10-01 → 2025-12-31
Proceeds from Issuance of Long-term Debt 382.50M 2025-10-01 → 2025-12-31
Repayments of Long-term Debt 569.60M 2025-10-01 → 2025-12-31
Proceeds from Noncontrolling Interests 61.00M 2025-10-01 → 2025-12-31
Payments of Ordinary Dividends, Common Stock 398.40M 2025-10-01 → 2025-12-31
Proceeds from (Payments for) Other Financing Activities -32.90M 2025-10-01 → 2025-12-31
Net Cash Provided by (Used in) Financing Activities -490.10M 2025-10-01 → 2025-12-31
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 2.70M 2025-10-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect -829.60M 2025-10-01 → 2025-12-31
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations 1.03B as of 2025-12-31

Stockholders' Equity

3 concepts 1 unit

Notes

21 concepts 4 units
Unit US$ · 18 concepts
Label Value Period
Share-based Payment Arrangement, Expense 10.30M 2025-10-01 → 2025-12-31
Related Party Transaction, Amounts of Transaction -85.00M 2025-10-01 → 2025-12-31
Share-based Payment Arrangement, Expense, after Tax 7.90M 2025-10-01 → 2025-12-31
Share-based Payment Arrangement, Expense, Tax Benefit 2.40M 2025-10-01 → 2025-12-31
Contract with Customer, Liability, Revenue Recognized 30.00M 2025-10-01 → 2025-12-31
Dividends, Common Stock, Cash 398.60M 2025-10-01 → 2025-12-31
Revenue, Remaining Performance Obligation, Amount 26.00B as of 2025-12-31
Goodwill, Translation and Purchase Accounting Adjustments 7.60M 2025-10-01 → 2025-12-31
Goodwill, Gross 1.27B as of 2025-12-31
Goodwill, Impaired, Accumulated Impairment Loss 294.30M as of 2025-12-31
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax 109.00M 2025-10-01 → 2025-12-31
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax -25.90M 2025-10-01 → 2025-12-31
Derivative, Net Liability Position, Aggregate Fair Value 79.90M as of 2025-12-31
Collateral Already Posted, Aggregate Fair Value 0 as of 2025-12-31
Additional Collateral, Aggregate Fair Value 225.80M as of 2025-12-31
Derivative Liability, Fair Value, Gross Liability 138.10M as of 2025-12-31
Derivative Asset, Fair Value, Gross Asset 288.70M as of 2025-12-31
APIC, Share-based Payment Arrangement, Increase for Cost Recognition 10.50M 2025-10-01 → 2025-12-31
Unit shares · 1 concept
Label Value Period
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements 100,000 2025-10-01 → 2025-12-31
Unit pure · 1 concept
Label Value Period
Effective Income Tax Rate Reconciliation, Percent 0.187 2025-10-01 → 2025-12-31
Unit segment · 1 concept
Label Value Period
Number of Reportable Segments 5 2025-10-01 → 2025-12-31

Other

3 concepts 2 units
Unit US$ · 2 concepts
Label Value Period
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture -10.90M 2025-10-01 → 2025-12-31
Stockholders' Equity, Other 200.00K 2025-10-01 → 2025-12-31
Unit shares · 1 concept
Label Value Period
Entity Common Stock, Shares Outstanding 222.66M as of 2025-12-31

Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (APD CIK 0000002969), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.