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Air Products and Chemicals APD Free cash flow margin

Free cash flow margin at other companies

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14.7%-0.2pp
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CF IndustriesCF
21.9%-8.5pp
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Ingersoll RandIR
14.9%-3.9pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
4.7%-1.9pp
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OneokOKE
6.4%-5.9pp
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Atmos EnergyATO
-40.8%+19.0pp

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$62.4B-1.4%
Enterprise value$62.36B-1.4%
P/E29.7×-11.6×
P/S-0.3×

Profitability

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Gross margin32%0.0pp
Operating margin18.3%+6.0pp
Net margin16.9%+4.1pp

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

Calculated from Air Products and Chemicals’s reported figures.

Based on trailing twelve months.

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 free cash flow margin?
Air Products and Chemicals (APD) reported free cash flow margin of -10% in Q1 2026.
How has Air Products and Chemicals's free cash flow margin changed year-over-year?
Air Products and Chemicals's free cash flow margin increased by 72.2% year-over-year, from -36% to -10%.
What is the long-term trend for Air Products and Chemicals's free cash flow margin?
Over 4 years (2021 to 2025), Air Products and Chemicals's free cash flow margin has grown at a 36.6% compound annual growth rate (CAGR), from 39.1% to -135.9%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.