Companies / Materials
APD
Air Products
Industrial Gases
Industrial GasesAnalysis in progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health38
Growth21
Profitability9
Cash generation0
Balance sheet81
Dilution control78
Key ratios and five-year financials
Latest quarter revenue YoY (2026-06-30)4.6%Revenue growth (FY)-0.5%Revenue CAGR (3y)-1.8%Gross margin31.4%Operating margin-7.3%Net margin-3.3%Free cash flow margin-31.3%R&D / revenue0.8%Stock comp / revenue0.6%Net debt / operating cash flow-0.56xCurrent ratio1.38Diluted share count change-0.0%
| Fiscal year ending | FY 2021-09 | FY 2022-09 | FY 2023-09 | FY 2024-09 | FY 2025-09 |
|---|---|---|---|---|---|
| Revenue | $10.3B | $12.7B | $12.6B | $12.1B | $12.0B |
| Gross profit | $3.1B | $3.4B | $3.8B | $3.9B | $3.8B |
| Operating income | $2.3B | $2.3B | $2.5B | $4.5B | -$877M |
| Net income | $2.1B | $2.3B | $2.3B | $3.8B | -$394M |
| Operating cash flow | $3.3B | $3.2B | $3.2B | $3.6B | $3.3B |
| Capital expenditure | $2.5B | $2.9B | $4.6B | $6.8B | $7.0B |
| Free cash flow | $871M | $244M | -$1.4B | -$3.1B | -$3.8B |
| R&D | $94M | $103M | $106M | $100M | $96M |
| Stock-based comp | $44M | $48M | $60M | $62M | $76M |
| Dividends | $1.3B | $1.4B | $1.5B | $1.6B | $1.6B |
| Cash | $4.5B | $2.7B | $1.6B | $3.0B | $1.9B |
| Total debt | $6.9B | $6.4B | $260M | $84M | $35M |
| Equity | $13.5B | $13.1B | $14.3B | $17.0B | $15.0B |
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