APD Stock Analysis: Air Products Chemicals | NYSE
Specialty Chemicals | NYSE, USA | Market Cap: 69.964m USD | 12M Return: 9.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 447M
EPS Trend: 84.6%
Qual. Beats: 2
Rev. Trend: -53.8%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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: 2.11b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 13.81 > 1.0 |
| NWC/Revenue: 12.03% < 20% (prev -0.19%; Δ 12.22% < -1%) |
| CFO/TA 0.10 > 3% & CFO 4.12b > Net Income 2.11b |
| Net Debt (18.0b) to EBITDA (4.54b): 3.97 < 3 |
| Current Ratio: 1.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (222.9m) vs 12m ago 0.09% < -2% |
| Gross Margin: 31.98% > 18% (prev 31.94%; Δ 0.04% > 0.5%) |
| Asset Turnover: 30.96% > 50% (prev 30.92%; Δ 0.04% > 0%) |
| Interest Coverage Ratio: 12.78 > 6 (EBIT TTM 2.98b / Interest Expense TTM 233.2m) |
| A: 0.04 (Total Current Assets 5.01b - Total Current Liabilities 3.51b) / Total Assets 41.6b |
| B: 0.43 (Retained Earnings 17.8b / Total Assets 41.6b) |
| C: 0.07 (EBIT TTM 2.98b / Avg Total Assets 40.3b) |
| D: 0.67 (Book Value of Equity 15.6b / Total Liabilities 23.5b) |
| Altman-Z'' = 2.83 = A |
| DSRI: 1.00 (Receivables 2.66b/2.55b, Revenue 12.5b/12.0b) |
| GMI: 1.00 (GM 31.94% / 31.98%) |
| AQI: 0.97 (AQ_t 0.22 / AQ_t-1 0.22) |
| SGI: 1.04 (Revenue 12.5b / 12.0b) |
| TATA: -0.05 (NI 2.11b - CFO 4.12b) / TA 41.6b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of July 07, 2026, the stock is trading at USD 308.86 with a total of 1,013,756 shares traded. Over the past week, the price has changed by +11.88%, over one month by +12.29%, over three months by +5.66% and over the past year by +9.71%.
Current recommended Stop Loss: 297.40 (which is 3.7% or 1.2 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 | 327.9 | 6.2% |
P/E Trailing = 33.1075
P/E Forward = 22.1239
P/S = 5.6133
P/B = 4.4706
P/EG = 2.3315
Revenue TTM = 12.5b USD
EBIT TTM = 2.98b USD
EBITDA TTM = 4.54b USD
Long Term Debt = 17.3b USD (from longTermDebt, last quarter)
Short Term Debt = 487.9m USD (from shortTermDebt, last quarter)
Debt = 19.0b USD (from shortLongTermDebtTotal, last quarter) + Leases 600.1m
Net Debt = 18.0b USD (calculated: Debt 19.0b - CCE 951.0m)
Enterprise Value = 88.0b USD (70.0b + Debt 19.0b - CCE 951.0m)
Interest Coverage Ratio = 12.78 (Ebit TTM 2.98b / Interest Expense TTM 233.2m)
EV/FCF = 79.40x (Enterprise Value 88.0b / FCF TTM 1.11b)
FCF Yield = 1.26% (FCF TTM 1.11b / Enterprise Value 88.0b)
FCF Margin = 8.89% (FCF TTM 1.11b / Revenue TTM 12.5b)
Net Margin = 16.91% (Net Income TTM 2.11b / Revenue TTM 12.5b)
Gross Margin = 31.98% ((Revenue TTM 12.5b - Cost of Revenue TTM 8.48b) / Revenue TTM)
Gross Margin QoQ = 31.13% (prev 32.07%)
Tobins Q-Ratio = 2.11 (Enterprise Value 88.0b / Total Assets 41.6b)
Interest Expense / Debt = 1.23% (Interest Expense 233.2m / Debt 19.0b)
Taxrate = 21.44% (588.9m / 2.75b)
NOPAT = 2.34b (EBIT 2.98b * (1 - 21.44%))
Current Ratio = 1.43 (Total Current Assets 5.01b / Total Current Liabilities 3.51b)
Debt / Equity = 1.21 (Debt 19.0b / totalStockholderEquity, last quarter 15.6b)
Debt / EBITDA = 3.97 (Net Debt 18.0b / EBITDA 4.54b)
Debt / FCF = 16.25 (Net Debt 18.0b / FCF TTM 1.11b)
Total Stockholder Equity = 15.4b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.23% (Net Income 2.11b / Total Assets 41.6b)
RoE = 13.68% (Net Income TTM 2.11b / Total Stockholder Equity 15.4b)
RoCE = 9.12% (EBIT 2.98b / Capital Employed (Equity 15.4b + L.T.Debt 17.3b))
RoIC = 6.16% (NOPAT 2.34b / Invested Capital 38.0b)
WACC = 6.20% (E(70.0b)/V(88.9b) * Re(7.62%) + D(19.0b)/V(88.9b) * Rd(1.23%) * (1-Tc(0.21)))
Discount Rate = 7.62% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 56.23 | Cagr: 0.02%
[DCF] Terminal Value 75.44% ; FCFF base≈1.11b ; Y1≈1.11b ; Y5≈1.18b
[DCF] Fair Price = 1.45 (EV 18.3b - Net Debt 18.0b = Equity 321.9m / Shares 222.7m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: 84.55 | EPS CAGR: 3.58% | SUE: 1.42 | # QB: 2
Revenue Correlation: -53.83 | Revenue CAGR: -1.41% | SUE: 1.86 | # QB: 1
EPS current Quarter (2026-06-30): EPS=3.33 | Chg30d=-0.02% | Revisions=+28% | Analysts=18
EPS current Year (2026-09-30): EPS=13.22 | Chg30d=+0.06% | Revisions=+59% | GrowthEPS=+9.9% | GrowthRev=+6.2%
EPS next Year (2027-09-30): EPS=14.22 | Chg30d=-0.07% | Revisions=+67% | GrowthEPS=+7.6% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +58% (up=42, down=10)