Air Products and Chemicals, Inc (APD) Stock Analysis
Basic Materials · Specialty Chemicals · NYSE
Air Products and Chemicals, Inc (APD) posted $12.04B in revenue for fiscal 2025 (down 0.5% year over year), with a net loss of $386.50M, and has compounded revenue about 6.3%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Air Products and Chemicals, Inc
Air Products and Chemicals, Inc has grown revenue from $7.50B to $12.04B over the last 10 fiscal years, compounding about 6.3% a year. The most recent year was down 0.5%, so growth has cooled from its longer-run pace.
Net margin sits at -3.2%, down 35 points year over year on a 31.4% gross margin. It carries about $34.70M of total debt.
The one thing worth a second look in the filings is currently unprofitable.
Synthesised from Air Products and Chemicals, Inc's SEC filings — descriptive, not advice. Ask the analyst your own question →
Air Products and Chemicals, Inc revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.50B | $8.19B | $8.93B | $8.92B | $8.86B | $10.32B | $12.70B | $12.60B | $12.10B | $12.04B |
| Gross profit | $2.33B | $2.44B | $2.74B | $2.91B | $3.00B | $3.14B | $3.36B | $3.77B | $3.93B | $3.78B |
| Net income | $631.10M | $3.00B | $1.50B | $1.76B | $1.89B | $2.10B | $2.24B | $2.29B | $3.84B | $-386.50M |
| Net margin | 8.4% | 36.6% | 16.8% | 19.7% | 21.3% | 20.3% | 17.7% | 18.2% | 31.8% | -3.2% |
Source: Air Products and Chemicals, Inc SEC filings (10-K). 19 years of history available in the interactive view.
Air Products and Chemicals, Inc: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -3.2%).
Explore 19 years of Air Products and Chemicals, Inc financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Air Products and Chemicals, Inc financial history by metric
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About Air Products and Chemicals, Inc
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, metals, manufacturing, electronics, energy production, medical, food, chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. 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. Air Products and Chemicals, Inc. was founded in 1940 and is headquartered in Allentown, Pennsylvania.
Air Products and Chemicals, Inc — frequently asked questions
What is Air Products and Chemicals, Inc's revenue?
Air Products and Chemicals, Inc (APD) reported revenue of $12.04B for fiscal year 2025, down 0.5% from the prior year, according to its SEC filings.
Is Air Products and Chemicals, Inc profitable?
No — APD reported a net loss of $-386.50M in fiscal 2025.
What is APD's P/E ratio?
Air Products and Chemicals, Inc trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Air Products and Chemicals, Inc growing?
APD's revenue grew at roughly 6.3% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Air Products and Chemicals, Inc have?
As of fiscal year 2025, APD carried roughly $34.70M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Air Products and Chemicals, Inc's gross margin?
APD's gross margin was 31.4% in fiscal 2025 — gross profit of $3.78B on revenue of $12.04B.
What is Air Products and Chemicals, Inc's market cap?
Air Products and Chemicals, Inc (APD) has a market capitalization of about $65.67B, based on the latest data in our nightly-refreshed cache.
When does Air Products and Chemicals, Inc's fiscal year end?
APD's fiscal year ends in September. Its most recent annual filing covers the fiscal year ending 2025-09-30.
Where does this data come from?
All figures are computed from Air Products and Chemicals, Inc's official SEC filings (10-K and 10-Q), covering 19 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.