Air Products and Chemicals APD Ratios & Valuation
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 32%+0.4pp | 31.6%+0.2pp | 31.4%-0.5pp | 31.9%-0.1pp | 31.9%-0.6pp | |
| Operating margin | 18.3%+24.9pp | -6.6%+0.8pp | -7.4%-20.1pp | 12.7%+0.4pp | 12.3%-24.6pp | |
| Net margin | 16.9%+19.6pp | -2.8%+0.5pp | -3.3%-16.2pp | 12.9%+0.1pp | 12.8%-19.1pp | |
| EBITDA margin | 30.8%+24.5pp | 6.3%+0.7pp | 5.6%-19.8pp | 25.4%+0.7pp | 24.7%-24.4pp | |
| Free cash flow margin | -10%+13.0pp | -23%+8.3pp | -31.3%+7.1pp | -38.4%-2.3pp | -36%-5.8pp | |
| Returns | ||||||
| Return on equity | 13.9%+16.0pp | -2.1%+0.4pp | -2.5%-12.6pp | 10.1%-0.2pp | 10.4%-14.0pp | |
| Return on assets | 5.2%+6.1pp | -0.8%+0.2pp | -1%-4.9pp | 3.9%-0.2pp | 4.1%-6.2pp | |
| Return on invested capital | 15.1%+20.3pp | -5.2%+1.0pp | -6.2%-15.3pp | 9.1%+0.2pp | 8.9%-15.7pp | |
| Efficiency | ||||||
| Asset turnover | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Inventory turnover | 11×+0.1× | 10.9×+0.2× | 10.7×+0.1× | 10.6×-0.4× | 11×-0.2× | |
| Liquidity | ||||||
| Current ratio | 1.4×0.0× | 1.5×+0.1× | 1.4×+0.1× | 1.3×+0.3× | 1×-0.1× | |
| Quick ratio | 1.2×0.0× | 1.2×0.0× | 1.2×+0.1× | 1.1×+0.3× | 0.8×-0.1× | |
| Cash ratio | 0.3×0.0× | 0.3×-0.1× | 0.4×0.0× | 0.5×+0.2× | 0.3×-0.1× | |
| Leverage | ||||||
| Debt-to-equity | 0.1×0.0× | 0×0.0× | 0×0.0× | 0.1×0.0× | 0.1×+0.1× | |
| Debt-to-assets | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Net debt / EBITDA | -0×+0.5× | -0.5×+1.2× | -1.7×-1.3× | -0.4×-0.3× | -0×+0.2× | |
| Interest coverage | 9.8×+13.3× | -3.6×+0.6× | -4.2×-12.0× | 7.8×0.0× | 7.8×-13.6× | |
| Per Share | ||||||
| Book value per share | $70.21+1.5% | $69.14+2.5% | $67.47-3.2% | $69.71+5.6% | $65.99-11.9% | |
| Valuation | ||||||
| Market capitalization | $64.68B+17.6% | $54.98B-9.4% | $60.69B-2.9% | $62.53B-4.7% | $65.61B+1.7% | |
| Enterprise value | $64.64B+18.3% | $54.63B-8.3% | $59.58B-3.0% | $61.39B-6.3% | $65.53B+3.4% | |
| Price / earnings | 30.8×— | —— | —— | 40.3×-2.5× | 42.8×+26.0× | |
| Price / sales | 5.2×+0.7× | 4.5×-0.5× | 5×-0.1× | 5.2×-0.3× | 5.5×+0.1× | |
| Price / book | 4.1×+0.6× | 3.6×-0.5× | 4×0.0× | 4×-0.4× | 4.5×+0.6× | |
| EV / EBITDA | 16.8×-54.5× | 71.4×-17.5× | 88.9×+68.8× | 20×-2.0× | 22.1×+11.4× | |
| EV / sales | 5.2×+0.7× | 4.5×-0.5× | 4.9×-0.1× | 5.1×-0.4× | 5.5×+0.2× | |
| Free cash flow yield | -1.9%+3.2pp | -5.1%+1.1pp | -6.2%+1.2pp | -7.4%-0.8pp | -6.6%-1.0pp | |
| Earnings yield | 3.3%+3.9pp | -0.6%0.0pp | -0.7%-3.1pp | 2.5%+0.1pp | 2.3%-3.6pp | |
| Dividend yield | 2.5%-0.4pp | 2.9%+0.3pp | 2.6%+0.1pp | 2.5%+0.1pp | 2.4%0.0pp | |
| PEG ratio | 0.8×— | —— | —— | —— | —— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →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.
