What are Air Products and Chemicals's profit margins?

Air Products and Chemicals (APD) runs a 32.0% gross margin and a 18.3% operating margin, with a 16.9% net margin.

Where do Air Products and Chemicals's ratios come from?

Every ratio is computed from Air Products and Chemicals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Air Products and Chemicals APD Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q2 '26	Q1 '26	Q4 '25	Q3 '25	Q2 '25
Profitability
Gross margin	32%0.0pp	31.6%-0.9pp	31.4%-1.1pp	31.9%+0.2pp	31.9%+0.5pp
Operating margin	18.3%+6.0pp	-6.6%-43.5pp	-7.4%-44.3pp	12.7%-10.3pp	12.3%-9.8pp
Net margin	16.9%+4.1pp	-2.8%-34.7pp	-3.3%-35.0pp	12.9%-8.4pp	12.8%-7.6pp
Returns
Return on equity	13.9%+3.5pp	-2.1%-26.4pp	-2.5%-26.9pp	10.1%-7.5pp	10.4%-6.7pp
Return on invested capital	15.1%+6.2pp	-5.2%-29.8pp	-6.2%-31.3pp	9.1%-7.7pp	8.9%-8.2pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×-0.1×
Liquidity
Current ratio	1.4×+0.4×	1.5×+0.3×	1.4×-0.1×	1.3×0.0×	1×-0.5×
Leverage
Debt-to-equity	0.1×0.0×	0×0.0×	0×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	-0×0.0×	-0.5×-0.3×	-1.7×-1.3×	-0.4×0.0×	-0×+0.4×
Per Share
Book value per share	$70.21+6.4%	$69.14-7.7%	$67.47-11.8%	$69.71+2.8%	$65.99-1.5%
Valuation
Market capitalization	$64.68B-1.4%	$54.98B-14.8%	$60.69B-8.3%	$62.53B+9.0%	$65.61B+21.8%
Price / earnings	30.8×-12.0×	——	——	40.3×+18.0×	42.8×+21.0×
Price / sales	5.2×-0.3×	4.5×-0.9×	5×-0.4×	5.2×+0.4×	5.5×+1.0×
Price / book	4.1×-0.3×	3.6×-0.3×	4×+0.2×	4×+0.2×	4.5×+0.9×
EV / EBITDA	16.8×-5.2×	71.4×+60.7×	88.9×+78.0×	20×+6.8×	22.1×+9.3×
Dividend yield	2.5%+0.1pp	2.9%+0.5pp	2.6%+0.2pp	2.5%-0.2pp	2.4%-0.5pp

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Questions, answered.

What are Air Products and Chemicals's profit margins?: Air Products and Chemicals (APD) runs a 32.0% gross margin and a 18.3% operating margin, with a 16.9% net margin.
Where do Air Products and Chemicals's ratios come from?: Every ratio is computed from Air Products and Chemicals's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.