APD Stock Analysis: Air Products Chemicals | NYSE
Specialty Chemicals | NYSE, USA | Market Cap: 66.054m USD | 12M Return: 4.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 335M
EPS Trend: 84.3%
Qual. Beats: 3
Rev. Trend: 1.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Air Products and Chemicals, Inc. (NYSE: APD) is a global supplier of atmospheric, process, and specialty gases, along with related equipment and services, operating across the Americas, Asia, Europe, the Middle East, India, and other international markets. Its atmospheric gas portfolio includes oxygen, nitrogen, and argon, while its process gas offerings cover hydrogen, helium, carbon dioxide, carbon monoxide, and syngas. The company also produces specialty gas mixtures tailored to specific customer applications.
The business serves a broad range of end markets, including refining, chemicals, metals, manufacturing, electronics, energy production, medical, food, and primary metals processing. Beyond gases, Air Products designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and the transport and storage of liquid helium and liquid hydrogen. Headquartered in Allentown, Pennsylvania, the company was founded in 1940 and has been publicly traded since 1987.
The industrial gases sector is capital-intensive and structurally consolidated, with a small number of large global suppliers. Gas output is typically delivered to customers through long-term supply agreements, on-site pipeline systems, or bulk and merchant distribution, since these gases function as essential inputs to a wide range of industrial and manufacturing processes.
- Hydrogen megaproject capex execution weighs on near-term returns
- Industrial gas price hikes offset energy cost inflation
- Asia industrial demand softness pressures volume growth
| Net Income: -47.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA 16.19 > 1.0 |
| NWC/Revenue: 3.08% < 20% (prev 11.51%; Δ -8.43% < -1%) |
| CFO/TA 0.11 > 3% & CFO 4.57b > Net Income -47.3m |
| Net Debt (17.8b) to EBITDA (971.1m): 18.31 < 3 |
| Current Ratio: 1.08 > 1.5 & < 3 |
| Outstanding Shares: last quarter (222.8m) vs 12m ago -0.04% < -2% |
| Gross Margin: 32.06% > 18% (prev 31.87%; Δ 0.19% > 0.5%) |
| Asset Turnover: 30.70% > 50% (prev 28.94%; Δ 1.75% > 0%) |
| Interest Coverage Ratio: -2.68 > 6 (EBIT TTM -593.1m / Interest Expense TTM 221.2m) |
| A: 0.01 (Total Current Assets 4.96b - Total Current Liabilities 4.58b) / Total Assets 40.4b |
| B: 0.40 (Retained Earnings 16.3b / Total Assets 40.4b) |
| C: -0.01 (EBIT TTM -593.1m / Avg Total Assets 41.1b) |
| D: 0.58 (Book Value of Equity 13.9b / Total Liabilities 23.8b) |
| Altman-Z'' = 1.89 = BBB |
| DSRI: 0.64 (Receivables 1.88b/2.79b, Revenue 12.6b/12.1b) |
| GMI: 0.99 (GM 31.87% / 32.06%) |
| AQI: 1.12 (AQ_t 0.24 / AQ_t-1 0.21) |
| SGI: 1.05 (Revenue 12.6b / 12.1b) |
| TATA: -0.11 (NI -47.3m - CFO 4.57b) / TA 40.4b) |
| Beneish M = -3.23 (Cap -4..+1) = AA |
As of August 04, 2026, the stock is trading at USD 292.94 with a total of 1,293,509 shares traded. Over the past week, the price has changed by +0.12%, over one month by -5.15%, over three months by -1.20% and over the past year by +4.61%.
Current recommended Stop Loss: 282.80 (which is 3.5% or 1.3 ATR below the current price).
Air Products Chemicals has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy APD.
- StrongBuy: 10
- Buy: 5
- Hold: 8
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 337.6 | 15.2% |
P/E Trailing = 31.0445
P/E Forward = 20.5761
P/S = 5.2603
P/B = 4.1871
P/EG = 2.1707
Revenue TTM = 12.6b USD
EBIT TTM = -593.1m USD
EBITDA TTM = 971.1m USD
Long Term Debt = 16.9b USD (from longTermDebt, last fiscal year)
Short Term Debt = 896.2m USD (from shortTermDebt, last quarter)
Debt = 18.8b USD (from shortLongTermDebtTotal, last quarter) + Leases 600.1m
Net Debt = 17.8b USD (calculated: Debt 18.8b - CCE 980.5m)
Enterprise Value = 83.8b USD (66.1b + Debt 18.8b - CCE 980.5m)
Interest Coverage Ratio = -2.68 (Ebit TTM -593.1m / Interest Expense TTM 221.2m)
EV/FCF = 40.75x (Enterprise Value 83.8b / FCF TTM 2.06b)
FCF Yield = 2.45% (FCF TTM 2.06b / Enterprise Value 83.8b)
FCF Margin = 16.33% (FCF TTM 2.06b / Revenue TTM 12.6b)
Net Margin = -0.38% (Net Income TTM -47.3m / Revenue TTM 12.6b)
Gross Margin = 32.06% ((Revenue TTM 12.6b - Cost of Revenue TTM 8.56b) / Revenue TTM)
Gross Margin QoQ = 32.77% (prev 31.13%)
Tobins Q-Ratio = 2.07 (Enterprise Value 83.8b / Total Assets 40.4b)
Interest Expense / Debt = 1.18% (Interest Expense 221.2m / Debt 18.8b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -468.5m (EBIT -593.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.08 (Total Current Assets 4.96b / Total Current Liabilities 4.58b)
Debt / Equity = 1.35 (Debt 18.8b / totalStockholderEquity, last quarter 13.9b)
Debt / EBITDA = 18.31 (Net Debt 17.8b / EBITDA 971.1m)
Debt / FCF = 8.64 (Net Debt 17.8b / FCF TTM 2.06b)
Total Stockholder Equity = 15.0b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.12% (Net Income -47.3m / Total Assets 40.4b)
RoE = -0.32% (Net Income TTM -47.3m / Total Stockholder Equity 15.0b)
RoCE = -1.86% (EBIT -593.1m / Capital Employed (Equity 15.0b + L.T.Debt 16.9b))
RoIC = -1.30% (negative operating profit) (NOPAT -468.5m / Invested Capital 36.1b)
WACC = 6.42% (E(66.1b)/V(84.8b) * Re(7.98%) + D(18.8b)/V(84.8b) * Rd(1.18%) * (1-Tc(0.21)))
Discount Rate = 7.98% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 51.26 | Cagr: 0.02%
[DCF] Terminal Value 75.44% ; FCFF base≈2.06b ; Y1≈2.07b ; Y5≈2.19b
[DCF] Fair Price = 73.02 (EV 34.0b - Net Debt 17.8b = Equity 16.3b / Shares 222.7m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 84.33 | EPS CAGR: 3.72% | SUE: 1.13 | # QB: 3
Revenue Correlation: 1.71 | Revenue CAGR: 0.03% | SUE: -0.79 | # QB: 0
EPS current Quarter (2026-12-31): EPS=3.46 | Chg30d=+0.49% | Revisions=+44% | Analysts=6
EPS current Year (2026-09-30): EPS=13.37 | Chg30d=+1.48% | Revisions=-17% | GrowthEPS=+11.1% | GrowthRev=+6.3%
EPS next Year (2027-09-30): EPS=14.30 | Chg30d=+0.42% | Revisions=-17% | GrowthEPS=+6.9% | GrowthRev=+6.0%
[Analyst] Revisions Ratio: +13% (up=7, down=5)