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

	TTM Q2 '26	TTM Q1 '26	TTM Q4 '25	TTM Q3 '25	TTM Q2 '25
Profitability
Gross margin	126.9%0.0pp	126.9%-0.9pp	127.8%-1.1pp	128.9%+0.2pp	128.7%+0.5pp
Operating margin	17%+6.0pp	11%-43.5pp	54.5%-44.3pp	98.8%-10.3pp	109.1%-9.8pp
Net margin	23.6%+4.1pp	19.5%-34.7pp	54.2%-35.0pp	89.1%-8.4pp	97.5%-7.6pp
Returns
Return on equity	19.4%+3.5pp	15.9%-26.4pp	42.3%-26.9pp	69.2%-7.5pp	76.7%-6.7pp
Return on invested capital	12.7%+6.2pp	6.5%-29.8pp	36.3%-31.3pp	67.6%-7.7pp	75.3%-8.2pp
Efficiency
Asset turnover	1.2×0.0×	1.2×0.0×	1.3×0.0×	1.3×0.0×	1.3×-0.1×
Liquidity
Current ratio	5.6×+0.4×	5.1×+0.3×	4.8×-0.1×	4.9×0.0×	4.9×-0.5×
Leverage
Debt-to-equity	0.2×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.2×0.0×
Net debt / EBITDA	-2.5×0.0×	-2.5×-0.3×	-2.3×-1.3×	-0.9×0.0×	-0.9×+0.4×
Per Share
Book value per share	$276.52+1.5%	$272.31-2.1%	$278.05-3.1%	$287.05+0.7%	$285.13-0.3%
Valuation
Market capitalization	$242.89B-0.4%	$243.83B-3.8%	$253.34B-2.1%	$258.84B+2.0%	$253.67B+4.9%
Price / sales	19.9×-0.3×	20.2×-0.9×	21×-0.4×	21.5×+0.4×	21×+1.0×
Price / book	15.8×-0.3×	16.1×-0.3×	16.4×+0.2×	16.2×+0.2×	16×+0.9×
EV / EBITDA	197.2×-5.2×	202.4×+60.7×	141.7×+78.0×	63.7×+6.8×	56.9×+9.3×
Dividend yield	10.5%+0.1pp	10.4%+0.5pp	10%+0.2pp	9.7%-0.2pp	9.9%-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.