Air Products and Chemicals Inc (APD)

Official site

BASIC MATERIALS • SPECIALTY CHEMICALS • NYSE

$296.34

+3.81 (+1.30%)

Market Cap: $65.14B

Last updated: Oct 16, 2026 at 1:54 PM ET

Earnings

Performance (10Y)

Beat Rate

72%(28/39)

Avg Surprise

+1.33%

Streak

5 Q

Upcoming Estimates

Period ending Sep 30, 2026

EPS Consensus$4.01

Range$3.96 - $4.06

22 analysts

Revenue Consensus

$3.4B

Range$3.3B - $3.5B

20 analysts

Period ending Dec 31, 2026

EPS Consensus$3.47

Range$3.40 - $3.53

9 analysts

EPS Revisions

30d

EPS Estimate DriftChange to current

90d ago$3.44+1.0%

60d ago$3.47+0.2%

30d ago$3.47-0.0%

7d ago$3.47-0.0%

Current$3.47

Revenue Consensus

$3.3B

Range$3.2B - $3.4B

5 analysts

Period	Reported	Est.	Range	Surprise	B/M	Analysts	Revisions	YoY
Dec 31, 2026Dec 26EST	-	$3.47	$3.40 - $3.53	-	-	9	6 1 30d	-
Sep 30, 2026Sep 26EST	-	$4.01	$3.96 - $4.06	-	-	22	-	-
Jun 30, 2026Jun 26 Reported Jul 30, 2026Reported Jul 30	$3.47	$3.36	$3.30 - $3.40	+3.27%	Beat	18	0 1 30d	+12.3%
Mar 31, 2026Mar 26 Reported Apr 30, 2026Reported Apr 30	$3.20	$3.06	$3.00 - $3.12	+4.58%	Beat	18	4 2 30d	+19.0%
Dec 31, 2025Dec 25 Reported Jan 30, 2026Reported Jan 30	$3.16	$3.04	$2.95 - $3.10	+3.95%	Beat	17	3 2 30d	+10.5%
Sep 30, 2025Sep 25 Reported Nov 6, 2025Reported Nov 6	$3.39	$3.38	$3.32 - $3.45	+0.30%	Beat	18	1 3 30d	-4.8%
Jun 30, 2025Jun 25 Reported Jul 31, 2025Reported Jul 31	$3.09	$2.99	$2.90 - $3.10	+3.34%	Beat	17	2 3 30d	-3.4%
Mar 31, 2025Mar 25 Reported May 1, 2025Reported May 1	$2.69	$2.83	$2.80 - $2.87	-4.95%	Miss	15	1 2 30d	-5.6%
Dec 31, 2024Dec 24 Reported Feb 6, 2025Reported Feb 6	$2.86	$2.84	$2.78 - $2.91	+0.70%	Beat	14	6 2 30d	+1.4%
Sep 30, 2024Sep 24 Reported Nov 7, 2024Reported Nov 7	$3.56	$3.47	$3.33 - $3.60	+2.59%	Beat	16	2 0 30d	+13.0%
Jun 30, 2024Jun 24 Reported Aug 1, 2024Reported Aug 1	$3.20	$3.04	$2.96 - $3.08	+5.26%	Beat	18	No revisions (30d)	+7.4%
Mar 31, 2024Mar 24 Reported Apr 30, 2024Reported Apr 30	$2.85	$2.70	$2.62 - $2.78	+5.56%	Beat	17	2 0 30d	+4.0%
Dec 31, 2023Dec 23 Reported Feb 5, 2024Reported Feb 5	$2.82	$3.00	$2.92 - $3.19	-6.00%	Miss	15	1 0 30d	+6.8%
Sep 30, 2023Sep 23 Reported Nov 7, 2023Reported Nov 7	$3.15	$3.11	$3.07 - $3.16	+1.29%	Beat	16	2 0 30d	+9.0%
Jun 30, 2023Jun 23 Reported Aug 3, 2023Reported Aug 3	$2.98	$2.91	$2.88 - $2.95	+2.41%	Beat	18	1 0 30d	+13.7%
Mar 31, 2023Mar 23 Reported May 9, 2023Reported May 9	$2.74	$2.66	$2.60 - $2.83	+3.01%	Beat	16	3 1 30d	+15.1%
Dec 31, 2022Dec 22 Reported Feb 2, 2023Reported Feb 2	$2.64	$2.70	$2.63 - $2.80	-2.22%	Miss	16	1 0 30d	+4.8%
Sep 30, 2022Sep 22 Reported Nov 3, 2022Reported Nov 3	$2.89	$2.76	$2.66 - $2.87	+4.71%	Beat	20	1 0 30d	+15.1%
Jun 30, 2022Jun 22 Reported Aug 4, 2022Reported Aug 4	$2.62	$2.61	$2.56 - $2.69	+0.38%	Beat	18	3 1 30d	+13.4%
Mar 31, 2022Mar 22 Reported May 5, 2022Reported May 5	$2.38	$2.37	$2.27 - $2.45	+0.42%	Beat	17	No revisions (30d)	+14.4%
Dec 31, 2021Dec 21 Reported Feb 4, 2022Reported Feb 4	$2.52	$2.50	$2.48 - $2.55	+0.80%	Beat	17	No revisions (30d)	+18.9%
Sep 30, 2021Sep 21 Reported Nov 4, 2021Reported Nov 4	$2.51	$2.49	$2.44 - $2.59	+0.80%	Beat	17	8 0 30d	+14.6%
Jun 30, 2021Jun 21 Reported Aug 9, 2021Reported Aug 9	$2.31	$2.38	$2.26 - $2.47	-2.94%	Miss	17	2 0 30d	+14.9%
Mar 31, 2021Mar 21 Reported May 10, 2021Reported May 10	$2.08	$2.11	$2.02 - $2.25	-1.42%	Miss	18	No revisions (30d)	+2.0%
Dec 31, 2020Dec 20 Reported Feb 4, 2021Reported Feb 4	$2.12	$2.20	$2.08 - $2.31	-3.64%	Miss	14	2 0 30d	-0.9%
Sep 30, 2020Sep 20 Reported Nov 11, 2020Reported Nov 11	$2.19	$2.21	$2.06 - $2.44	-0.91%	Miss	17	2 0 30d	-3.5%
Jun 30, 2020Jun 20 Reported Jul 23, 2020Reported Jul 23	$2.01	$1.98	$1.82 - $2.23	+1.52%	Beat	20	1 0 30d	-7.4%
Mar 31, 2020Mar 20 Reported Apr 23, 2020Reported Apr 23	$2.04	$2.06	$1.85 - $2.18	-0.97%	Miss	18	2 0 30d	+6.3%
Dec 31, 2019Dec 19 Reported Jan 24, 2020Reported Jan 24	$2.14	$2.08	$2.05 - $2.11	+2.88%	Beat	17	2 0 30d	+15.1%
Sep 30, 2019Sep 19 Reported Nov 7, 2019Reported Nov 7	$2.27	$2.29	$2.26 - $2.35	-0.87%	Miss	18	No revisions (30d)	+13.5%
Jun 30, 2019Jun 19 Reported Jul 25, 2019Reported Jul 25	$2.17	$2.13	$2.10 - $2.22	+1.88%	Beat	17	No revisions (30d)	+11.3%
Mar 31, 2019Mar 19 Reported Apr 24, 2019Reported Apr 24	$1.92	$1.87	$1.83 - $2.00	+2.67%	Beat	20	2 0 30d	+12.3%
Dec 31, 2018Dec 18 Reported Jan 25, 2019Reported Jan 25	$1.86	$1.87	$1.82 - $1.90	-0.53%	Miss	16	1 0 30d	+7.5%
Sep 30, 2018Sep 18 Reported Nov 6, 2018Reported Nov 6	$2.00	$1.99	$1.97 - $2.02	+0.50%	Beat	17	No revisions (30d)	+13.6%
Jun 30, 2018Jun 18 Reported Jul 26, 2018Reported Jul 26	$1.95	$1.84	$1.81 - $1.88	+5.98%	Beat	17	1 0 30d	+18.2%
Mar 31, 2018Mar 18 Reported Apr 26, 2018Reported Apr 26	$1.71	$1.68	$1.67 - $1.74	+1.79%	Beat	17	1 0 30d	+19.6%
Dec 31, 2017Dec 17 Reported Jan 26, 2018Reported Jan 26	$1.73	$1.66	$1.47 - $1.73	+4.22%	Beat	15	2 0 30d	+17.7%
Sep 30, 2017Sep 17 Reported Oct 26, 2017Reported Oct 26	$1.76	$1.68	$1.66 - $1.71	+4.76%	Beat	17	No revisions (30d)	-
Jun 30, 2017Jun 17 Reported Aug 1, 2017Reported Aug 1	$1.65	$1.59	$1.55 - $1.62	+3.77%	Beat	17	1 0 30d	-
Mar 31, 2017Mar 17 Reported Apr 27, 2017Reported Apr 27	$1.43	$1.38	-	+3.62%	Beat	-	-	-
Dec 31, 2016Dec 16 Reported Jan 27, 2017Reported Jan 27	$1.47	$1.48	-	-0.68%	Miss	-	-	-

Dividends

Dividend Metrics

Forward Yield2.44%

Forward Annual Dividend$7.24

Payout Ratio40215.40%

FrequencyQuarterly

Pay MonthsFeb, May, Aug, Nov

Growth

3Y CAGR+3.29%

5Y CAGR+5.90%

APD dividend history and ex-dividend dates Run APD in the free DRIP calculator

Key Metrics

Valuation
P/E Ratio	22.42	EV/EBITDA	87.79x
Price/FCF	-219.06x	FCF Yield	-0.46%
Profitability
Profit Margin	-0.38%	Operating Margin	25.50%
ROE	0.02%	ROIC	-1.24%
Financial Health
Debt/Equity	1.27x	Interest Coverage	4.26x
Current Ratio	1.08x	Quick Ratio	0.92x
Trading Statistics
Beta	0.76	Avg Volume	1.18M
52-Week High	$312.82	52-Week Low	$223.18

Technical Indicators Dashboard

Moving Averages

SMA 10$283.75

SMA 20$281.75

SMA 50$292.33

SMA 200$285.15

EMA 10$286.12

EMA 20$285.14

EMA 50$288.26

EMA 200$285.16

MACD

Line: -0.30Signal: -2.85Hist: 2.56

ADX

ADX: 21.7+DI: 32.2-DI: 22.9

Aroon & PSAR

Aroon UpN/A

Aroon Down60.0

PSAR$271.49

Bollinger Bands

Upper Band$293.23

Lower Band$270.27

%B Position815%(Upper)

Band Width1.14

RSI (14-Day)

Neutral

63.8

Momentum Oscillators

Stoch %K97.2

Stoch %D87.6

Williams %R-1.8

ROC (10d)8.4%

Momentum23.01

CCI (20d)217.9

MFI (14d)60.5

Volatility Measures

ATR (14d)$5.47(1.8%)

StdDev (20d)5.74

Hist Vol19.3%(Low)

Volume Flow

VWAP$295.55

OBV2.8M

AD Line-468.9M

CMF (20d)-0.345

Volume Metrics

Avg Vol (20d)1.2M

Vol Ratio1.0x

VWMA (20d)$281.71

Pivot Points

R3$297.97

R2$295.42

R1$293.97

Pivot Point$291.42

S1$289.97

S2$287.42

S3$285.98

Advanced Oscillators

TSI-2.26

Ultimate Osc59.5

KST-35.93

Financial Data

Quarter	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Total Revenue	$3.16B	$3.17B	$3.10B	$3.17B	$3.02B	$2.92B	$2.93B	$3.19B	$2.99B	$2.93B	$3.00B	$3.19B
Cost of Revenue	$2.13B	$2.18B	$2.11B	$2.15B	$2.04B	$2.05B	$2.02B	$2.10B	$2.01B	$1.99B	$2.07B	$2.21B
Gross Profit	$1.04B	$987.40M	$995.00M	$1.02B	$982.60M	$862.30M	$915.00M	$1.08B	$979.90M	$938.70M	$930.20M	$984.10M

Operating Expenses	$3.13B	$234.70M	$260.50M	$1.00B	$192.00M	$3.19B	$271.40M	$-1,341,300,000	$242.30M	$301.50M	$263.30M	$245.50M
R&D	$21.50M	$21.60M	$20.40M	$27.30M	$24.10M	$22.90M	$22.00M	$22.10M	$27.00M	$25.40M	$25.70M	$24.70M
SG&A	$219.10M	$227.20M	$228.70M	$219.10M	$222.60M	$222.00M	$242.40M	$228.00M	$235.40M	$240.60M	$238.40M	$232.70M
Operating Income	$-2,097,100,000	$752.70M	$734.50M	$16.80M	$790.60M	$-2,328,000,000	$643.60M	$2.42B	$737.60M	$637.20M	$666.90M	$738.60M

Interest Income	$205.20M	$179.40M	$172.20M	$184.00M	$167.60M	$145.50M	$150.60M	$177.10M	$168.90M	$143.30M	$158.40M	$163.40M
Interest Expense	$49.40M	$49.50M	$54.50M	$67.80M	$61.40M	$42.20M	$42.60M	$49.70M	$55.70M	$59.90M	$53.50M	$48.00M
Income Before Tax	$-1,937,700,000	$883.50M	$850.80M	$121.30M	$890.80M	$-2,243,300,000	$790.50M	$2.50B	$849.50M	$711.40M	$757.00M	$841.20M
Income Tax Expense	$-515,400,000	$158.70M	$159.40M	$111.20M	$159.60M	$-505,800,000	$140.70M	$538.40M	$140.60M	$130.50M	$135.40M	$154.20M

Net Income	$-1,422,300,000	$724.80M	$691.40M	$10.10M	$723.20M	$-1,737,500,000	$649.80M	$1.95B	$708.90M	$580.90M	$621.60M	$694.40M

EBITDA	$-1,708,100,000	$1.13B	$1.10B	$417.90M	$1.19B	$-1,963,000,000	$1.05B	$2.76B	$1.10B	$988.80M	$1.00B	$1.08B
EBIT	$-2,093,500,000	$753.60M	$733.10M	$5.10M	$784.60M	$-2,346,600,000	$682.50M	$2.38B	$736.30M	$628.00M	$652.10M	$725.80M

* Some calculated fields are derived from available data when not provided by source

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Government Contracts

Gov Obligations (TTM)

$94.65M

Gov Obligations / Revenue

0.8%

Obligations YoY

-23.9%

Active Awards

223

New Awards (TTM)

191

Avg Remaining Term

4.4 mo

Top agency: National Aeronautics and Space Administration at 93.2% of trailing twelve month obligations across 3 agencies

Recent Awards

Award ID	Agency	Obligated	Start	End	Description
80SSC026F0003	National Aeronautics and Space AdministrationNational Aeronautics and Space Administration	$9.88M	Dec 12, 2025	Nov 30, 2027	SSC DELIVERY ORDER (DO) FOR LIQUID HYDROGEN (LH)
80KSC026F0003	National Aeronautics and Space AdministrationNational Aeronautics and Space Administration	$4.33M	Dec 4, 2025	Nov 30, 2027	THIS DELIVERY ORDER IS ISSUED PURSUANT TO THE SCHEDULE OF SUPPLIES, CONTRACT PERIOD PRICING, OTHER PRICING OPTIONS, AND TERMS AND CONDITIONS OF CONTRACT 80KSC026D0002.
80MSFC26F0004	National Aeronautics and Space AdministrationNational Aeronautics and Space Administration	$1.95M	Dec 29, 2025	Nov 30, 2027	DELIVERY ORDER FOR THE BULK PURCHASE OF LIQUID HYDROGEN FOR MARSHALL SPACE FLIGHT CENTER.
SPE60125FJ94T	Department of DefenseDefense Logistics Agency	$1.68M	Aug 4, 2025	Aug 4, 2025	8511547732!NITROGEN, LIQUID, GRADE L
N0017326F0002	Department of DefenseDepartment of the Navy	$295000	Apr 1, 2026	Jun 30, 2026	BULK LIQUID NITROGEN, QUARTERLY PR BULK LIQUID NITROGEN FOR CLIN 0001AADELIVERY ORDER #0040 POP 04/01/2026- 06/30/2026500,000 GALLONS @.59 (PRICE)= $295,000 IAW N00173-22-D-2008, NWA# 300000145879 AND G/L ACCOUNT# 6100.3252
N0017326F2405	Department of DefenseDepartment of the Navy	$295000	Dec 31, 2025	Mar 31, 2026	BULK LIQUID NITROGEN, QUARTERLY PR BULK LIQUID NITROGEN FOR CLIN 0001AADELIVERY ORDER #0039 POP 01/01/2026- 03/31/2026500,000 GALLONS @.59 (PRICE)= $295,000 IAW N00173-22-D-2008, NWA# 300000145879 AND G/L ACCOUNT# 6100.3252
N0017325F2448	Department of DefenseDepartment of the Navy	$295000	Sep 29, 2025	Dec 31, 2025	BULK LIQUID NITROGEN, QUARTERLY PR BULK LIQUID NITROGEN FOR CLIN 0001AADELIVERY ORDER #0038 POP 10/01/2025- 12/31/2025500,000 GALLONS @.59 (PRICE)= $295,000 IAW CONTRACT N00173-22-D-2008
80GRC025FA042	National Aeronautics and Space AdministrationNational Aeronautics and Space Administration	$179000	Sep 15, 2025	Jun 30, 2029	BULK LIQUID NITROGEN KENNEDY SPACE CENTER BASE CONTRACT 80KSC024DA013 CLIN 002. THIS IS A TASK ORDER FOR THE PURCHASE OF LIQUID NITROGEN FOR A TEST CAMPAIGN AT ARMSTRONG TEST FACILITY.
SPE60126FK49M	Department of DefenseDefense Logistics Agency	$175405	Feb 9, 2026	Apr 3, 2026	8511909555!PROPELLANT PRESSURIZING AGENT
SPE60126FK49W	Department of DefenseDefense Logistics Agency	$156995	Feb 10, 2026	Mar 18, 2026	8511912689!HELIUM

Federal contract obligations are bookings recorded by the awarding agency, not recognized revenue. They can exceed 100% of revenue and can be negative when contracts are de-obligated. Source: USAspending.gov prime awards, data through Jul 31, 2026.

News

Barclays starts coverage of Air Products and Chemicals stock at USD 353

Barclays has initiated coverage on Air Products and Chemicals (APD) with an Overweight rating and a price target of USD 353.00. The company's fiscal third-quarter sales reached USD 3.16 billion...

ad-hoc-news.de•Oct 16, 2026 3:39 AM ET10/16/26•Somewhat-Bullish

Air Products to showcase gas technologies at FABTECH; stock last at USD 296.60 on October 15, 2026

Air Products will showcase its gas technologies for metalworking applications at FABTECH 2026, scheduled for October 21-23, 2026, in Las Vegas. The company will present gas supply solutions for laser cutting...

ad-hoc-news.de•Oct 16, 2026 1:31 AM ET10/16/26•Somewhat-Bullish

Air Products & Chemicals Inc. stock outperforms competitors on strong trading day

Air Products & Chemicals Inc. (APD) saw its stock advance by 1.39% to $296.60, outperforming the broader market. This gain occurred during a strong trading day where the S&P 500 Index and the Dow Jones Industrial Average...

MarketWatch•Oct 15, 2026 12:44 PM ET10/15/26•Bullish

Rio Tinto Reports 2% Y/Y Increase in Q3 Iron Ore Shipments

Rio Tinto reported a 2% year-over-year increase in Q3 2026 iron ore shipments from Pilbara, reaching 85.7 million tons...

TradingView•Oct 15, 2026 12:10 PM ET10/15/26•Somewhat-Bullish

Barclays sets USD 353 target for Air Products & Chemicals stock

Barclays initiated coverage of Air Products & Chemicals (APD) with an Overweight rating and a $353 price target...

ad-hoc-news.de•Oct 15, 2026 11:13 AM ET10/15/26•Somewhat-Bullish

APD Valuation and Fair Value

P/E: 22.4x
Forward P/E: 19.9x
EV/EBITDA: 87.8x
P/FCF: -219.1x
PEG: 2.1x
P/B: 4.8x

See GNG's fair value

APD Profitability: Margins, ROIC and FCF

Gross margin: 32.1%
Operating margin: 25.5%
Net margin: -0.4%
ROIC: -1.2%
ROE: 0.0%
FCF margin: -2.4%
FCF yield: -0.5%

APD Competitors

Company	Ticker
Sherwin-Williams Co	SHW
Barrick Mining Corporation	B
Ecolab Inc	ECL
Wheaton Precious Metals Corp	WPM
Agnico Eagle Mines Limited	AEM
Nucor Corp	NUE
Freeport-McMoran Copper & Gold Inc	FCX
Vale SA ADR	VALE

Sector: Basic Materials

APD Analyst Ratings

Consensus: Buy
Analysts: 22
Strong Buy: 4
Buy: 11
Hold: 7
Sell: 0
Strong Sell: 0

APD Bull Case vs Bear Case

Bull case

APD beat EPS estimates in 87.5% of its last 8 reported quarters.
68.2% of APD's analyst ratings are Buy or Strong Buy.

Bear case

APD has a -0.4% net profit margin.

APD Earnings: Beat Rate and Next Report

Beat rate: 7 of 8 quarters (87.5%)
Average surprise: 1.7%
EPS estimate (fiscal period ending Sep 30, 2026): $4.01

APD Dividend

Forward yield: 2.4%
Payout ratio: 40215.4%
3Y DPS growth: 3.3%
5Y DPS growth: 5.9%
Pay months: Feb, May, Aug, Nov

APD dividend history

Frequently Asked Questions About APD

What is APD's current dividend yield?

Air Products and Chemicals Inc (APD) has a forward dividend yield of 2.44%.

Does APD pay dividends?

Yes, Air Products and Chemicals Inc pays dividends with a forward dividend yield of 2.44%.

What is APD's P/E ratio?

Air Products and Chemicals Inc has a price-to-earnings (P/E) ratio of 22.42.

What is APD's market cap?

Air Products and Chemicals Inc (APD) has a market capitalization of $65.14B with a current stock price of $296.34.

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