Mostly Markets
Subscribe
Stocks/Materials/Industrial Gases

Air ProductsAPD

Industrial Gases · Upper Macungie Township, Pennsylvania · In the S&P 500
Pricier than peers
$316.43+1.50%After hours: $318.10 (+0.53%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 27.4% over 1 year
Air Products over 1 yearDaily close, $, to 30 Oct 2026
$250$275$300Nov2026MarMayJulSep$316.43$250$300NovMarJul$316.43
Source: Nasdaq daily closes
Market value$70.46B
Price to earnings–
Forward P/E22.2x
Dividend yield2.29%
Year to date+28.1%
One year+27.4%
Next earningsThu 5 Nov, before the open
SectorMaterials
52-week range (closes)
$230.76$316.43

Quality and valuation

How Air Products compares with other materials stocks. A description, not a recommendation.

Air Products and 4 industrial gases peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: weaker than mostValuation: pricier than most

A weaker business than most materials companies, priced above most of them.

Air Products trades at 22.2 times the next 12 months of expected earnings, against a median of 16.1x for the 28 materials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +4.5% vs +9.1%
  • Keeps more of each sale (gross margin): 32.1% vs 27.9%
  • Less profitable (operating margin): −4.7% vs 10.9%
  • Turns less of its sales into cash: −2.4% vs 7.6%
APD trades at 22.2x forward earnings, above the sector medianForward p/e, Industrial Gases peers
NEM12.0xAEM14.6xFCX16.0xAPD22.2xLIN27.6xECL35.5xSector median 16.1xNEM12.0xAEM14.6xFCX16.0xAPD22.2xLIN27.6xECL35.5xSector median 16.1x
Source: CNBC quotes; Mostly Markets

Financials

From Air Products's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 4.6% from a year earlierQuarterly revenue, $bn, latest Q3 ’26
$0bn$1bn$2bn$3bnQ4 ’24Q2 ’25Q4 ’25$3.2bnQ3 ’26$0bn$2bnQ4 ’24Q2 ’25Q4 ’25$3.2bnQ3 ’26
Source: SEC filings
Growth slowed to +4.6% last quarterRevenue growth, year on year, %
0%5%Q4 ’24Q2 ’25Q4 ’254.6%Q3 ’260%5%Q4 ’24Q2 ’25Q4 ’254.6%Q3 ’26
Source: SEC filings
Operating margin was -66.3% last quarterOperating income as a share of revenue, %
−50%0%50%Q4 ’24Q2 ’25Q4 ’25−66.3%Q3 ’260%Q4 ’24Q2 ’25Q4 ’25−66.3%Q3 ’26
Source: SEC filings
Free cash flow was −$301 million over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
−$1.5bn−$1.0bn−$0.5bn$0.0bnQ4 ’24Q2 ’25Q4 ’25$0.3bnQ3 ’26$-1bn$0bnQ4 ’24Q2 ’25Q4 ’25$0.3bnQ3 ’26
Source: SEC filings
Last 12 monthsAPDSector median
Revenue growth+4.5%+9.1%
Gross margin32.1%27.9%
Operating margin−4.7%10.9%
Free cash flow margin−2.4%7.6%

Stories on Air Products

We haven't written about Air Products yet. Follow it, and its first story will show under My stocks on the front page.

Similar companies

Industrial Gases, by market value.

CompanyPriceTodayYTDValue
LINLinde$514.24+2.20%+20.6%$237B
BHPBHP Group$79.16−3.25%+31.1%$201B
RIORio Tinto$81.89−1.63%+2.3%$133B
NEMNewmont$106.61−4.64%+6.8%$111B
FCXFreeport-McMoRan$62.47−5.55%+23.0%$87.46B
ECLEcolab$302.98+0.70%+15.4%$84.93B
AEMAgnico Eagle Mines$165.38−5.99%−2.4%$83.61B
SHWSherwin-Williams$332.61+0.76%+2.6%$80.36B