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Air Products & Chemicals APD

US equityMarket cap rank #256Hydrogen Energy
$286.90
−$0.07 (-0.02%)
Market open · Sep 24, 1:10 pm ET
After hours $286.97 0.00%
Open$287.24
Prev close$286.97
Day range$285.08 – $288.54
Volume294.1K
Market cap$63.89B
P/E (TTM)
Dividend yield2.51%

Fundamentals

Latest reported quarter: Q3, ended Jun 2026

Revenue$3.16B+4.6% YoY
Operating profit$810.30M+4.9% YoY
Net profit-$1.42B-296.7% YoY
Diluted EPS-$6.47-302.2% YoY
Free cash flow$309.50M+148.4% YoY
Operating cash flow$1.31B

Revenue, last 8 quarters

$3.2BSep '24$2.9BDec '24$2.9BMar '25$3.0BJun '25$3.2BSep '25$3.1BDec '25$3.2BMar '26$3.2BJun '26

Net profit, last 8 quarters

$2.0BSep '24$649.8MDec '24$-1.7BMar '25$723.2MJun '25$10.1MSep '25$691.4MDec '25$724.8MMar '26$-1.4BJun '26

Diluted EPS by quarter

8.75Sep '242.77Dec '24-7.77Mar '253.20Jun '250.02Sep '253.04Dec '253.19Mar '26-6.47Jun '26

Free cash flow by quarter

$-1.1BSep '24$-1.3BDec '24$-1.6BMar '25$-640.0MJun '25$-256.5MSep '25$-350.5MDec '25$-3.9MMar '26$309.5MJun '26

Annual revenue

$8.9BFY20$10.3BFY21$12.7BFY22$12.6BFY23$12.1BFY24$12.0BFY25

Profitability & balance sheet

Gross margin32.1%
Operating margin24.8%
Net margin-0.4%
Return on equity-0.3%
Return on assets-0.1%
Return on invested capital0.3%
Current ratio1.08
Liabilities / assets59.0%
Cash & investments$980.50M
Total debt$18.16B
Net cash (debt)-$17.18B

Income statement

Line item 2026 Q3 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4
Total Revenue as Reported $3.16B $3.17B $3.10B $12.04B $3.17B
Total Operating Revenue $3.16B $3.17B $3.10B $12.04B $3.17B
Cost of Revenue $2.13B $2.18B $2.11B $8.26B $2.15B
Gross Profit $1.04B $987.40M $995.00M $3.78B $1.02B
Operating Expense $225.70M $234.70M $238.50M $892.30M $209.60M
Selling and Admin Expenses $219.10M $227.20M $228.70M $906.10M $219.10M
Research & Development $21.50M $21.60M $20.40M $96.30M $27.30M
Other Operating Expenses -$14.90M -$14.10M -$10.60M -$110.10M -$36.80M
Operating Profit $810.30M $752.70M $756.50M $2.89B $811.80M
Net Non-Operating Interest Income (Expense) -$49.40M -$49.50M -$54.50M -$214.00M -$67.80M
Non-Operating Interest Expense $49.40M $49.50M $54.50M $214.00M $67.80M
Other Income (Expense) -$2.70B $180.30M $148.80M -$3.12B -$622.70M
Earnings from Equity Interest $205.20M $179.40M $172.20M $647.70M $184.00M
Special Income (Charges) -$2.91B $0.00 -$22.00M -$3.77B -$795.00M
-Gain on Sale Of Business -$2.91B $0.00 -$22.00M -$3.68B -$795.00M
Other Non-Operating Income (Expenses) $3.60M $900,000.00 -$1.40M $2.60M -$11.70M
Pretax Profit -$1.94B $883.50M $850.80M -$440.70M $121.30M
Tax -$515.40M $158.70M $159.40M -$94.30M $111.20M
Net Profit -$1.42B $724.80M $691.40M -$354.40M $10.10M
Profit from Continuing Operations -$1.42B $724.80M $691.40M -$346.40M $10.10M
Net Income from Discontinuous Operations $0.00 -$8.00M $0.00
Minority Interests $18.50M $14.40M $13.20M $40.10M $5.20M
Net Income to Parent Company -$1.44B $710.40M $678.20M -$394.50M $4.90M
Net Income to Common Stockholders -$1.44B $710.40M $678.20M -$394.50M $4.90M
Basic EPS -$6.47 $3.19 $3.04 -$1.77 $0.02
Diluted EPS -$6.47 $3.19 $3.04 -$1.77 $0.02
Dividend Per Share $1.81 $1.81 $1.79 $7.14 $1.79
-Less:Other Special Charges $86.30M $0.00

Balance sheet

Line item 2026 Q3 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4
Total Assets $40.45B $41.64B $41.24B $41.06B $41.06B
Total Current Assets $4.96B $5.01B $5.10B $5.83B $5.83B
Cash and Cash Equivalents & Short-Term Investments $980.50M $951.00M $1.03B $1.86B $1.86B
-Cash and Cash Equivalents $980.50M $951.00M $1.03B $1.86B $1.86B
Receivables $2.60B $2.66B $2.65B $2.35B $2.35B
-Accounts Receivable $1.88B $1.94B $1.89B $1.90B $1.90B
-Other Receivables $719.30M $717.80M $757.40M $202.00M $202.00M
Prepaid Assets $155.10M $171.20M $163.80M $174.90M $174.90M
Inventory $751.60M $767.90M $788.10M $776.50M $776.50M
Total Non-Current Assets $35.48B $36.63B $36.14B $35.23B $35.23B
Net PPE $25.79B $27.61B $27.07B $26.28B $26.28B
-Gross PPE $43.91B $45.47B $44.71B $43.70B $43.70B
-Accumulated Depreciation -$18.13B -$17.86B -$17.64B -$17.42B -$17.42B
Investments and Advances $5.58B $5.41B $5.44B $5.38B $5.38B
-Long Term Equity Investment $5.58B $5.41B $5.44B $5.37B $5.37B
Non Current Accounts Receivables $1.23B $1.25B $1.26B $1.31B $1.31B
Goodwill and Other Intangible Assets $1.24B $1.24B $1.27B $1.26B $1.26B
-Goodwill $957.40M $958.70M $971.50M $963.90M $963.90M
-Other Intangible Assets $278.40M $283.50M $294.40M $293.50M $293.50M
Other Non-Current Assets $1.65B $1.12B $1.10B $282.00M $282.00M
Total Liabilities $23.85B $23.49B $23.40B $23.71B $23.71B
Total Current Liabilities $4.58B $3.51B $3.50B $4.22B $4.22B
Payables $3.63B $2.98B $3.21B $2.30B $2.30B
-Accounts Payable $3.53B $2.86B $3.04B $1.44B $1.44B
-Total Tax Payable $98.00M $118.70M $174.50M $179.40M $179.40M
Short-Term Debt and Capital Lease Obligation $896.20M $487.90M $236.50M $842.80M $842.80M
-Current Debt $896.20M $487.90M $236.50M $751.00M $751.00M
Other Current Liabilities $51.50M $49.80M $51.60M $86.40M $86.40M
Total Non-Current Liabilities $19.27B $19.98B $19.91B $19.49B $19.49B
Long Term Debt and Capital Lease Obligation $17.26B $17.87B $17.90B $17.56B $17.56B
-Long Term Debt $16.77B $17.27B $17.30B $16.95B $16.95B
-Long Term Capital Lease Obligation $489.80M $600.10M $607.00M $616.00M $616.00M
Non-Current Deferred Liabilities $638.40M $733.00M $661.90M $863.20M $863.20M
Other Non-Current Liabilities $1.37B $1.38B $1.34B $335.10M $335.10M
Total Equity $16.60B $18.15B $17.84B $17.35B $17.35B
Stockholders' Equity $13.88B $15.65B $15.41B $15.02B $15.02B
Capital Stock $249.40M $249.40M $249.40M $249.40M $249.40M
-Common Stock $249.40M $249.40M $249.40M $249.40M $249.40M
Additional Paid-In Capital $1.33B $1.32B $1.31B $1.31B $1.31B
Retained Earnings $16.30B $18.14B $17.84B $17.56B $17.56B
Less: Treasury Stock $2.00B $2.00B $2.00B $2.00B $2.00B
Gains/Losses Not Affecting Retained Earnings -$1.99B -$2.06B -$1.98B -$2.09B -$2.09B
Minority Interests $2.71B $2.50B $2.43B $2.32B $2.32B
-Short Term Investments $0.00 $0.00
-Taxes Receivable $243.40M $243.40M
Current Deferred Assets $85.40M $85.40M
Other Current Assets $77.10M $77.10M
Financial Assets $162.80M $162.80M
Non-Current Prepaid Assets $100.40M $100.40M
Defined Pension Benefit $210.90M $210.90M
Non-Current Deferred Assets $247.80M $247.80M
-Dividends Payable $398.40M $398.40M
-Other Payable $283.40M $283.40M
Current Accrued Expenses $620.40M $620.40M
-Current Capital Lease Obligation $91.80M $91.80M
Current Deferred Liabilities $253.40M $253.40M
Long Term Accounts Payable and Other Payables $0.00 $0.00
Derivative Product Liabilities $57.70M $57.70M
Non-Current Liabilities $400.60M $400.60M
Employee Benefits $271.10M $271.10M

Cash flow

Line item 2026 Q3 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4
Operating Cash Flow $1.31B $1.10B $900.70M $3.26B $1.26B
Net cash flow from continuing operations $1.31B $1.10B $900.70M $3.26B $1.26B
Net Income from Continuing Operations -$1.44B $710.40M $678.20M -$386.50M $4.90M
Gain/Loss from Continuing Operations $2.86B -$8.00M -$8.70M $3.34B $643.50M
Depreciation & Depletion & Amortization $385.40M $375.00M $370.70M $1.56B $412.80M
Deferred Tax -$637.30M $47.40M $78.20M -$589.70M -$57.60M
Other Non-Cash Items $67.60M $19.20M -$13.20M $100.50M $29.00M
Change in Working Capital $60.50M -$56.20M -$215.10M -$851.60M $217.90M
-Change in Receivables -$45.00M -$18.00M -$21.70M -$29.20M $165.00M
-Change in Inventory $14.90M $16.00M -$11.00M -$35.80M -$200,000.00
-Change in Payables and Accrued Expense $43.80M -$55.10M -$191.30M -$224.00M -$8.90M
-Change In Other Working Capital $46.80M $900,000.00 $8.90M -$562.60M $62.00M
Net cash flow from investing -$992.70M -$1.08B -$1.24B -$7.17B -$1.49B
Net Cash Flow from Continuing Investing Activities -$992.70M -$1.08B -$1.24B -$7.17B -$1.49B
Net PPE Purchase and Sale -$995.70M -$1.11B -$1.25B -$7.02B -$1.52B
Net Business Purchase and Sale -$88.80M $0.00 -$20.00M -$450.30M -$25.00M
Net Investment Purchase and Sale $0.00 $0.00 $0.00 $4.90M $0.00
Net Other Investing Changes $91.80M $31.70M $28.30M $299.30M $55.00M
Financing Cash Flow -$285.30M -$101.00M -$490.10M $2.80B -$239.10M
Net Cash Flow from Continuing Financing Activities -$285.30M -$101.00M -$490.10M $2.80B -$239.10M
Net Issuance Payments Of Debt -$62.00M $240.00M -$119.80M $3.88B $69.30M
Cash Dividends Paid -$403.00M -$398.60M -$398.40M -$1.58B -$398.40M
Net Other Financing Charges $179.70M $57.60M $28.10M $496.10M $88.90M
Ending Cash Balance $980.50M $951.00M $1.03B $1.86B $1.86B
Net Change in Cash $27.20M -$73.20M -$832.30M -$1.12B -$465.60M
Beginning Cash Balance $951.00M $1.03B $1.86B $2.98B $2.32B
Effect of Exchange Rate Changes $2.30M -$2.20M $2.70M -$7.00M -$2.70M
Free Cash Flow $309.50M -$3.90M -$350.50M -$3.77B -$256.50M
Cash Flow from Discontinued Operating Activities $0.00
Proceeds from Stock Option Exercised $1.10M $0.00
Cash Flow from Discontinued Financing Activities $0.00
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