Merchant — Sales
Air Products and Chemicals Merchant — Sales decreased by 2.1% to $1.32B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 4.3%, from $1.27B to $1.32B. Over 4 years (FY 2021 to FY 2025), Merchant — Sales shows an upward trend with a 4.5% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong industrial demand and effective market penetration, while a decrease may indicate economic slowdowns or increased competitive pricing pressure.
Detailed definition
This metric represents the total revenue generated from the merchant industrial gas business, where products are typical...
Peer comparison
Comparable to 'Bulk' or 'Merchant' revenue segments reported by major industrial gas competitors like Linde or Air Liquide.
apd_segment_merchant_salesHistorical Data
| Q2 '21 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.17B | $1.15B | $1.18B | $1.22B | $1.30B | $1.40B | $1.34B | $1.41B | $1.39B | $1.39B | $1.32B | $1.32B | $1.33B | $1.36B | $1.35B | $1.27B | $1.34B | $1.39B | $1.35B | $1.32B |
| QoQ Change | — | -1.0% | +2.3% | +3.2% | +6.3% | +7.8% | -3.8% | +4.9% | -1.3% | -0.5% | -4.8% | +0.5% | +0.1% | +2.5% | -1.0% | -5.7% | +5.3% | +3.7% | -2.4% | -2.1% |
| YoY Change | — | — | — | — | +11.2% | +21.1% | +13.8% | +15.7% | +7.3% | -0.9% | -2.0% | -6.1% | -4.7% | -1.8% | +2.1% | -4.2% | +0.7% | +1.9% | +0.4% | +4.3% |
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Frequently Asked Questions
- What is Air Products and Chemicals's merchant — sales?
- Air Products and Chemicals (APD) reported merchant — sales of $1.32B in Q1 2026.
- How has Air Products and Chemicals's merchant — sales changed year-over-year?
- Air Products and Chemicals's merchant — sales increased by 4.3% year-over-year, from $1.27B to $1.32B.
- What is the long-term trend for Air Products and Chemicals's merchant — sales?
- Over 4 years (2021 to 2025), Air Products and Chemicals's merchant — sales has grown at a 4.5% compound annual growth rate (CAGR), from $4.47B to $5.34B.
- What does merchant — sales mean?
- Total revenue generated from the sale of industrial gases delivered to customers in bulk or via small on-site facilities.