All currency values in $ millions unless otherwise noted
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| Income Statement | TTM | SEP 2025 | SEP 2024 | SEP 2023 | SEP 2022 | SEP 2021 |
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Revenue | $12,602 | $12,037 | $12,101 | $12,600 | $12,699 | $10,323 |
| Cost of Revenue | $8,562 | $8,256 | $8,169 | $8,833 | $9,339 | $7,186 |
| Gross Profit | $4,040 | $3,781 | $3,932 | $3,767 | $3,360 | $3,137 |
| General & Administrative | $894 | $906 | $942 | $957 | $901 | $828 |
| Research & Development | $91 | $96 | $100 | $106 | $103 | $94 |
| Provision for Doubtful Accounts | – | $10 | $11 | $8 | $8 | $3 |
| Total Operating Expenses | $13,195 | $12,914 | $7,635 | $10,105 | $10,360 | $8,042 |
| Operating Income | -$593 | -$877 | $4,466 | $2,495 | $2,339 | $2,281 |
| Non-Operating | ||||||
| Net Interest Expense | -$221 | -$214 | -$219 | -$178 | -$128 | -$142 |
| Other Non-Operating Income (Expense) | $732 | $650 | $574 | $565 | $544 | $368 |
| EBT (Earnings Before Tax) | -$82 | -$441 | $4,821 | $2,882 | $2,755 | $2,507 |
| Income Tax Expense | -$86 | -$94 | $945 | $551 | $501 | $463 |
| Earnings from Continuing Ops | – | -$387 | $3,842 | $2,293 | $2,244 | $2,029 |
| Minority Interest | $51 | $40 | $34 | $38 | $10 | $16 |
| Net Income | ||||||
| Net Income | -$47 | -$395 | $3,828 | $2,300 | $2,256 | $2,099 |
| Per Share Data | ||||||
| Revenue Per Share | $56.56 | $54.05 | $54.31 | $56.58 | $57.07 | $46.40 |
| EPS (Basic) | -$0.21 | -$1.77 | $17.21 | $10.35 | $10.16 | $9.47 |
| EPS (Diluted) | -$0.21 | -$1.77 | $17.18 | $10.33 | $10.14 | $9.43 |
| Weighted Avg Shares (Basic) | 222.8M | 222.7M | 222.5M | 222.3M | 222.0M | 221.6M |
| Weighted Avg Shares (Diluted) | 222.8M | 222.7M | 222.8M | 222.7M | 222.5M | 222.5M |
| Shares Outstanding | 222.8M | 222.7M | 222.8M | 222.7M | 222.5M | 222.5M |
| Dividends Per Share | $7.20 | $7.14 | $7.06 | $6.87 | $6.36 | $5.84 |
Air Products and Chemicals (APD) financials: revenue, profit and margins
Air Products and Chemicals (APD) generated about $12.6 billion in revenue and -$47 million in net income (a -0.4% net margin) over the trailing twelve months, growing at roughly 6.3% a year. Figures are from SEC filings; this is analysis, not investment advice.
Frequently asked
What is Air Products and Chemicals's (APD) revenue?+
Air Products and Chemicals generated about $12.6 billion in revenue over the trailing twelve months. Revenue has grown at roughly 6.3% a year over the past five years. Revenue is the top line, before any costs; what matters for value is how much of it survives to free cash flow. The full income statement, balance sheet and cash-flow statement are on this tab.
Is Air Products and Chemicals profitable?+
Air Products and Chemicals reported about -$47 million in net loss over the trailing twelve months, a net margin of roughly -0.4%. Net income is the bottom line after all costs, interest and taxes. Compare it to free cash flow on this tab, since reported profit and actual cash generated can diverge.
What are Air Products and Chemicals's profit margins?+
Air Products and Chemicals runs a gross margin of about 32.1%, an operating margin of about -4.7%, a net margin of about -0.4%. Margins show how much of each sales dollar a company keeps at each stage. Stable or rising margins usually signal pricing power and cost discipline; falling margins are worth investigating. See the multi-year trend on this tab.
How fast is Air Products and Chemicals growing?+
Air Products and Chemicals's revenue has compounded at roughly 6.3% a year over the past five years. Growth only creates value when it is profitable and cash-generative, so read this rate alongside APD's margins and free cash flow. This is analysis from SEC filings, not investment advice.
SourceFinancial statements computed 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.
Fiscal year ends Sep.
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APD is in 250 US ETFs. The largest of them, with APD's weight in each:
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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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