CapEx
Air Products and Chemicals CapEx decreased by 11.5% to $1.11B in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 41.4%, from $1.89B to $1.11B. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 29.9% CAGR.
Analysis
How to read this metric
An increase signals growth investment or infrastructure modernization; a decrease might suggest cost-cutting or a transition to an asset-light model.
Detailed definition
Funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technolog...
Peer comparison
Hardware-focused tech firms typically have higher CapEx relative to revenue than pure software companies due to manufacturing and supply chain needs.
cf_capital_expendituresHistorical 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 | $620.00M | $616.40M | $663.80M | $769.80M | $705.50M | $787.40M | $834.20M | $1.01B | $1.32B | $1.46B | $1.45B | $1.67B | $1.61B | $2.08B | $2.12B | $1.89B | $1.50B | $1.52B | $1.25B | $1.11B |
| QoQ Change | — | -0.6% | +7.7% | +16.0% | -8.4% | +11.6% | +5.9% | +20.7% | +31.3% | +10.6% | -1.2% | +15.5% | -3.8% | +29.2% | +2.0% | -10.7% | -20.9% | +1.5% | -17.6% | -11.5% |
| YoY Change | — | — | — | — | +13.8% | +27.7% | +25.7% | +30.8% | +87.4% | +85.8% | +73.3% | +65.8% | +21.5% | +41.9% | +46.5% | +13.3% | -6.9% | -26.9% | -40.9% | -41.4% |
Business Segments
| Segment | FY'21 | FY'22 |
|---|---|---|
| Corporate And Other | $278.40M | $210.00M |
| Total | $2.46B | $2.93B |
All segment values are derived from annual filings.
Corporate And Other was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
CapEx at Other Companies
Frequently Asked Questions
- What is Air Products and Chemicals's capex?
- Air Products and Chemicals (APD) reported capex of $1.11B in Q1 2026.
- How has Air Products and Chemicals's capex changed year-over-year?
- Air Products and Chemicals's capex decreased by 41.4% year-over-year, from $1.89B to $1.11B.
- What is the long-term trend for Air Products and Chemicals's capex?
- Over 4 years (2021 to 2025), Air Products and Chemicals's capex has grown at a 29.9% compound annual growth rate (CAGR), from $2.46B to $7.02B.
- What does capex mean?
- The money spent on long-term physical assets like machinery, data centers, and office buildings.