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Air Products and Chemicals APD Return on invested capital

Return on invested capital at other companies

Linde logo
LindeLIN
11.2%+0.1pp
CF Industries logo
CF IndustriesCF
32%+8.5pp
IR
Ingersoll RandIR
6.5%-1.6pp
Enterprise Products Partners logo
Enterprise Products PartnersEPD
11.8%-0.3pp
Oneok logo
OneokOKE
8.6%-0.2pp
Atmos Energy logo
Atmos EnergyATO
6.1%+0.1pp

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$62.74B-1.4%
Enterprise value$62.7B-1.4%
P/E29.8×-11.7×
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 return on invested capital?
Air Products and Chemicals (APD) reported return on invested capital of 15.1% in Q1 2026.
How has Air Products and Chemicals's return on invested capital changed year-over-year?
Air Products and Chemicals's return on invested capital increased by 70.0% year-over-year, from 8.9% to 15.1%.
What is the long-term trend for Air Products and Chemicals's return on invested capital?
Over 4 years (2021 to 2025), Air Products and Chemicals's return on invested capital has grown at a -19.6% compound annual growth rate (CAGR), from 86.6% to 36.3%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.