Air Products and Chemicals, Inc.
As used in this report, unless the context indicates otherwise, the terms we, our, us, the Company, "Air Products," or registrant include our controlled subsidiaries and affiliates. Additional information about Air Products is available on our website at www.airproducts.com.
$302.66
+$0.08 (+0.03%)
EOD Oct 21, 2026
The business is unprofitable at the operating level (-7.29% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 0.5% YoY. Margins deteriorated 44.2pp alongside, both lines moving the wrong way.
ROIC dropped from 16.06% to -3.96%, capital efficiency is deteriorating. Negative free cash flow of -$3.77B. The business is consuming cash, not generating it.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$12.60B
▼ -0.5% YoY
Net Income (TTM)
-$47M
▼ -110.3% YoY
Op. Margin
-4.71%
▼ -44.2pp YoY
ROIC
-2.89%
▼ -20.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$301M
▼ -19.5% YoY
Op. Cash Flow (TTM)
$4.57B
▼ -10.7% YoY
Net Debt
$406M
Cash & Equiv.
$981M
5Y CAGR: +6.3%
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SourceComputed from the 10-Q filed 30 Jun 2026, covering the period ending 30 Jun 2026, as reported to the SEC. Data last refreshed 26 Sept 2026. How this is calculated.
Price from market data, last close as of 21 Oct 2026. Fiscal year ends Sep. Sector medians are approximate S&P 500 benchmarks and update periodically.
Is Air Products and Chemicals (APD) overvalued?
Air Products and Chemicals (APD)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Air Products and Chemicals scores 6/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 2.4%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Air Products and Chemicals a high-quality business?+
Air Products and Chemicals scores 6 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a -4.7% operating margin and a -2.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Air Products and Chemicals (APD) pay a dividend, and how much?+
Yes, Air Products and Chemicals pays a regular dividend of about $7.17 per share per year (typically in quarterly installments), a yield of roughly 2.4% at the current price. Air Products and Chemicals has grown the dividend at roughly 6.0% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For APD's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Air Products and Chemicals a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh APD's valuation and scores 6/100 on quality (lower-quality). It also yields about 2.4%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.
Related stocks: Industrial Inorganic Chemicals
Spot a number that looks wrong? Check it in APD's SEC filings or
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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