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Air Products and Chemicals APD Merchant — Percent sales by supply mode

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Other financials

Income statement

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Revenue$3.2B+8.8%
Gross profit$987.4M+14.5%
Operating income$752.7M+132%
Net income$710.4M+141%
EPS (diluted)$3.19+141%

Balance sheet

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Cash & equivalents$951.0M-36.2%
Total debt$914.5M-35.2%
Total equity$15.6B+6.4%
Total assets$41.6B+7.1%

Cash flow

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Operating cash flow$1.1B+236%
CapEx$1.1B-41.4%
Free cash flow-$3.9M+99.8%

Valuation

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Market cap$62.34B+3.5%
Enterprise value$62.3B+3.6%
P/E29.7×-9.6×
P/S0.0×

Profitability

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Gross margin32%0.0pp
Operating margin18.3%+6.0pp
Net margin16.9%+4.1pp
FCF margin-10%-4.2pp

Returns & leverage

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Return on equity13.9%+3.5pp
Debt / equity0.1×0.0×
Current ratio1.4×+0.4×

Where this comes from

Reported directly by Air Products and Chemicals in its filing.

Tagged under the XBRL concept apd:PercentSalesSupplyMode.

The official record: Air Products and Chemicals’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Air Products and Chemicals's merchant — percent sales by supply mode?
Air Products and Chemicals (APD) reported merchant — percent sales by supply mode of 42% in Q1 2026.
How has Air Products and Chemicals's merchant — percent sales by supply mode changed year-over-year?
Air Products and Chemicals's merchant — percent sales by supply mode decreased by 4.5% year-over-year, from 44% to 42%.
What does merchant — percent sales by supply mode mean?
This metric measures the proportion of merchant segment revenue categorized by specific delivery methods, such as liquid bulk transport or small-scale on-site generation. It provides insight into the operational efficiency and logistical footprint required to serve the customer base. By analyzing the mix of supply modes, investors can assess the company's capital intensity and the flexibility of its distribution network in different geographic regions.