AIR PRODUCTS AND CHEMICALS, INC. financials
Source: EDGAR filings · Built 2026-06-02T02:21:42Z
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 | 1.38× | 1.52× | 1.33× | 1.81× | 2.99× | 3.59× |
| Debt-to-Equity | 1.23× | 0.89× | 0.79× | 0.63× | 0.61× | 0.69× |
| Effective Tax Rate | 21.40% | 19.60% | 19.12% | 18.18% | 18.46% | 19.74% |
| Cash Conversion Ratio | -8.26× | 0.95× | 1.39× | 1.41× | 1.59× | 1.73× |
| Accruals Ratio | -0.09× | 0.00× | -0.03× | -0.03× | -0.05× | -0.05× |
| SBC % of Revenue | 0.63% | 0.51% | 0.48% | 0.38% | 0.43% | 0.60% |
| CapEx Coverage | 0.46× | 0.54× | 0.69× | 1.08× | 1.35× | 1.30× |
| Free Cash Flow Per Share | $-16.91 | $-14.14 | $-6.38 | $1.10 | $3.91 | $3.40 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | 17.33× | 27.43× | 22.95× | 27.16× | 35.08× |
| P/FCF | — | — | — | 212.13× | 65.42× | 87.62× |
| FCF Yield | — | — | — | 0.47% | 1.53% | 1.14% |
| EV / EBITDA | 112.47× | 13.24× | 18.85× | 15.57× | 16.78× | 20.13× |
| P/S | 5.04× | 5.47× | 5.00× | 4.07× | 5.49× | 7.43× |
| P/B | 4.04× | 3.89× | 4.40× | 3.93× | 4.19× | 5.45× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Payments to Acquire Property, Plant, and Equipment | 7.02B | 6.80B | 4.63B | 2.93B | 2.46B | 2.51B |
Derived Metrics
| Concept | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -354.40M | -350.50M | — | -3.51B | -2.87B | -1.31B |
| EBITDA | — | 1.11B | 429.60M | — | — | 1.01B |
| Working Capital | 1.50B | 1.61B | 1.61B | 1.39B | -23.00M | 542.30M |
| Net Debt | -36.50M | -352.70M | 16.58B | -1.14B | -80.80M | -1.12B |
| Gross Margin | 31.13% | 32.07% | 32.25% | 32.51% | 29.57% | 31.21% |
| Operating Margin | 23.73% | 23.67% | 0.53% | 26.16% | -79.83% | 21.95% |
| Net Margin | 22.40% | 21.86% | 0.15% | 23.61% | -59.34% | 21.06% |
| Return on Equity (ROE) | 4.54% | 4.40% | 0.03% | 4.59% | -11.77% | 3.70% |
| Return on Assets (ROA) | 1.71% | 1.64% | 0.01% | 1.71% | -4.45% | 1.54% |
| Current Ratio | 1.43× | 1.46× | 1.38× | 1.29× | 1.00× | 1.11× |
| Debt-to-Equity | 0.06× | 0.04× | 1.23× | 0.08× | 0.10× | 0.04× |
| Effective Tax Rate | 17.96% | 18.74% | 91.67% | 17.92% | 22.55% | 17.80% |
| Cash Conversion Ratio | 2.82× | 1.33× | — | 2.80× | -0.66× | 1.31× |
| Accruals Ratio | -0.03× | -0.01× | — | -0.03× | -0.07× | -0.00× |
| SBC % of Revenue | 0.84% | 0.34% | 0.34% | 2.17% | 1.88% | 0.56% |
| CapEx Coverage | 0.85× | 0.72× | — | 0.36× | 0.28× | 0.38× |
| Free Cash Flow Per Share | $-1.59 | $-1.57 | — | $-15.74 | $-12.88 | $-5.86 |
Valuation Metrics
| Concept | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 30.74× | — | — | 40.58× | 42.87× | 16.84× |
| P/S | 5.81× | 5.05× | 5.04× | 5.84× | 6.12× | 6.01× |
| P/B | 4.63× | 4.00× | 4.04× | 4.53× | 5.00× | 4.33× |
Income Statement
| Concept | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Revenues | 3.17B | 3.10B | 3.17B | 3.02B | 2.92B | 2.93B |
| Cost of Goods and Services Sold | 2.18B | 2.11B | 2.15B | 2.04B | 2.05B | 2.02B |
| Research and Development Expense | 21.60M | 20.40M | 27.30M | 24.10M | 22.90M | 22.00M |
| Selling, General and Administrative Expense | 227.20M | 228.70M | 219.10M | 222.60M | 222.00M | 242.40M |
| Operating Income (Loss) | 752.70M | 734.50M | 16.80M | 790.60M | -2.33B | 643.60M |
| Income Tax Expense (Benefit) | 158.70M | 159.40M | 111.20M | 159.60M | -505.80M | 140.70M |
| Net Income (Loss) Attributable to Parent | 710.40M | 678.20M | 4.90M | 713.80M | -1.73B | 617.40M |
| Earnings Per Share, Basic | $3.19 | $3.04 | $0.02 | $3.20 | $-7.77 | $2.77 |
| Weighted Average Number of Shares Outstanding, Basic | 222.80M | 222.80M | 222.70M | 222.80M | 222.80M | 222.70M |
| Earnings Per Share, Diluted | $3.19 | $3.04 | $0.02 | $3.20 | $-7.77 | $2.77 |
| Weighted Average Number of Shares Outstanding, Diluted | 222.90M | 222.90M | 222.70M | 222.90M | 222.80M | 222.90M |
Balance Sheet
| Concept | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 951.00M | 1.03B | 1.86B | 2.32B | 1.49B | 1.85B |
| Assets, Current | 5.01B | 5.10B | 5.83B | 6.15B | 5.19B | 5.35B |
| Assets | 41.64B | 41.24B | 41.06B | 41.66B | 38.87B | 40.02B |
| Liabilities, Current | 3.51B | 3.50B | 4.22B | 4.76B | 5.21B | 4.81B |
| Liabilities | 23.49B | 23.40B | 23.71B | 23.89B | 22.09B | 21.28B |
| Stockholders' Equity Attributable to Parent | 15.65B | 15.41B | 15.02B | 15.54B | 14.70B | 16.69B |
| Common Stock, Shares, Outstanding | — | — | 222.59M | — | — | — |
Cash Flow Statement
| Concept | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 2.00B | 900.70M | — | 2.00B | 1.14B | 811.70M |
| Payments to Acquire Property, Plant, and Equipment | 2.36B | 1.25B | 1.52B | 5.50B | 4.01B | 2.12B |
| Net Cash Provided by (Used in) Investing Activities | -2.32B | -1.24B | — | -5.68B | -4.42B | -2.18B |
| Net Cash Provided by (Used in) Financing Activities | -591.10M | -490.10M | — | 3.03B | 1.83B | 274.20M |
Raw XBRL tagging for a single filing
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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.