Air Products and Chemicals R&D increased by 5.9% to $21.60M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 5.7%, from $22.90M to $21.60M. Over 4 years (FY 2021 to FY 2025), R&D shows relatively stable performance with a 0.7% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2014
Last reportedQ2 2026Apr 30, 2026
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
Metric ID:
research_and_developmentHistorical Data
20 periods
| Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $23.20M | $25.70M | $23.30M | $23.70M | $24.80M | $31.10M | $24.40M | $27.20M | $29.30M | $24.70M | $25.70M | $25.40M | $27.00M | $22.10M | $22.00M | $22.90M | $24.10M | $27.30M | $20.40M | $21.60M |
| QoQ Change | — | +10.8% | -9.3% | +1.7% | +4.6% | +25.4% | -21.5% | +11.5% | +7.7% | -15.7% | +4.0% | -1.2% | +6.3% | -18.1% | -0.5% | +4.1% | +5.2% | +13.3% | -25.3% | +5.9% |
| YoY Change | — | — | — | — | +6.9% | +21.0% | +4.7% | +14.8% | +18.1% | -20.6% | +5.3% | -6.6% | -7.8% | -10.5% | -14.4% | -9.8% | -10.7% | +23.5% | -7.3% | -5.7% |
Range$20.40M – $31.10M
CAGR-1.5%
Avg YoY Growth+0.1%
Median YoY Growth-6.1%
R&D at Other Companies
Frequently Asked Questions
- What is Air Products and Chemicals's r&d?
- Air Products and Chemicals (APD) reported r&d of $21.60M in Q1 2026.
- How has Air Products and Chemicals's r&d changed year-over-year?
- Air Products and Chemicals's r&d decreased by 5.7% year-over-year, from $22.90M to $21.60M.
- What is the long-term trend for Air Products and Chemicals's r&d?
- Over 4 years (2021 to 2025), Air Products and Chemicals's r&d has grown at a 0.7% compound annual growth rate (CAGR), from $93.50M to $96.30M.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.