Air Products and Chemicals, Inc.

APD Basic Materials Specialty Chemicals

Air Products and Chemicals, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $12.0 billion, down 0.52% from fiscal 2024.

Revenue
+4.58%
EPS
−302.2%
Free cash flow
+180.1%
Total debt
+2.23%

Quarter to June 2026, against a year earlier

311.20 7.67 −2.41%
Market cap
$68.9B
P/E
0.0×
Fwd P/E
93.9×
Dividend yield
2.32%
F-score
2/9
Altman Z
2.41
Beneish M
−2.87
Dividend safety
20/100

Air Products and Chemicals, Inc. (APD) Operating margin

Alert me on Operating margin

Air Products and Chemicals, Inc.'s operating margin over the twelve months to 30 June 2026 was −4.71%, up 2.6 percentage points from fiscal 2025 (−7.29%). Over the past ten years it has ranged from −7.29% (fiscal 2025) to 36.9% (fiscal 2024) — the current reading is the lowest in ten years. That is below the Specialty Chemicals industry median of 5.64% and below the Basic Materials sector median of 2.88%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −7.29% (44.20)
FY2024 36.9% 17.11
FY2023 19.8% 1.38
FY2022 18.4% (3.68)
FY2021 22.1% (3.17)
FY2020 25.3% 1.23
FY2019 24.0% 2.03
FY2018 22.0% 4.42
FY2017 17.6% (2.87)
FY2016 20.5% 4.70

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 −66.3% (90.07)
Mar 2026 23.7% 0.06
Dec 2025 23.7% 23.14
Sep 2025 0.53% (25.63)
42 more quarters

Against its own ten years

Low −7.29% High 36.9%
Ten-year median 20.5%
Current reading's percentile 7

Operating margin against peers

Company Operating margin
LIN Linde PLC compare 25.3%
ECL Ecolab Inc. compare 16.7%
SHW The Sherwin-Williams Company compare 16.2%
PPG PPG Industries, Inc. compare 13.5%
RPM RPM International Inc. compare 12.6%
DD DuPont de Nemours, Inc. compare 11.8%
LYB LyondellBasell Industries N.V. compare 8.64%
IFF International Flavors & Fragrances Inc. compare 7.15%
APD Air Products and Chemicals, Inc. −4.71%
Specialty Chemicals industry median 5.64%
Basic Materials sector median 2.88%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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