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Air Products & Chemicals, Inc. APD

NYSE · stock · Industrial Inorganic Chemicals · website · IPO 1961-11-13

Air Products & Chemicals, Inc. statistics & valuation

Market cap$61.9B
P / S5.1×
P / B3.6×
Dividend yield2.56%
Net margin-3.3%
Return on equity-2.3%
FCF margin-31.3%
Return on capital-2.4%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
8.40% 36.60% 16.80% 19.70% 21.30% 20.30% 17.80% 18.30% 31.60% -3.30% 2016201720182019202020212022202320242025
Gross margin (%)
31.00% 29.80% 30.70% 32.70% 33.90% 2016201720182019202020212022202320242025
Operating margin (%)
20.50% 17.60% 22.00% 24.00% 25.30% 22.10% 18.40% 19.80% 36.90% -7.30% 2016201720182019202020212022202320242025
Return on equity (%)
8.70% 29.50% 13.40% 15.50% 15.20% 14.90% 16.50% 14.70% 20.50% -2.30% 2016201720182019202020212022202320242025
Shares outstanding
218.3M 219.8M 220.8M 221.6M 222.3M 222.5M 222.5M 222.7M 222.8M 222.7M 2016201720182019202020212022202320242025
Net debt ($)
$4.00B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.50% 16.20% 7.80% 9.30% 7.50% 7.80% 8.30% 7.20% 9.70% -1.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
18.00% 18.20% 11.00% 11.00% 8.50% 8.40% 1.90% -11.30% -26.00% -31.30% 2016201720182019202020212022202320242025
Debt / equity (×)
0.73× 2016201720182019202020212022202320242025
EPS ($)
$2.89 $13.65 $6.78 $7.94 $8.49 $9.43 $10.14 $10.33 $17.18 -$1.77 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Air Products & Chemicals, Inc. trades at about 17.7× earnings — below its 10-year norm (10-year range 11.7×–46.2×, median 26.9×).

11.7× 46.2×

Shaded band = 10-year range (11.7×–46.2×); dot = today's 17.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin—————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%
FCF margin-31.3%-26.0%-11.3%1.9%8.4%8.5%11.0%11.0%18.2%18.0%
Return on assets-1.0%9.7%7.2%8.3%7.8%7.5%9.3%7.8%16.2%3.5%
Return on equity-2.3%20.5%14.7%16.5%14.9%15.2%15.5%13.4%29.5%8.7%
Debt / equity—————————0.73×
Current ratio1.381.521.331.812.993.592.542.172.361.32

Computed from company filings · US · as of 2025-09-30. Facts plus Stocktoria's own computed scores — not investment advice.