APD Stock Analysis: Air Products Chemicals | NYSE
Specialty Chemicals | NYSE, USA | Market Cap: 62.232m USD | 12M Return: 5.8% | US0091581068 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 324M
EPS Trend: 84.3%
Qual. Beats: 3
Rev. Trend: 1.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 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. (APD) is a global supplier of atmospheric, process, and specialty gases, along with related equipment and services. Its operations span the Americas, Asia, Europe, the Middle East, and India, serving industries such as refining, chemicals, metals, electronics, healthcare, food, and energy. The company produces oxygen, nitrogen, and argon as atmospheric gases, and hydrogen, helium, carbon dioxide, carbon monoxide, and syngas as process and specialty gases.
The company also designs and manufactures cryogenic and process equipment, including air separation units, hydrocarbon recovery and purification systems, natural gas liquefaction equipment, and transport and storage systems for liquid helium and liquid hydrogen. Founded in 1940 and headquartered in Allentown, Pennsylvania, Air Products is classified within the Materials sector under the Industrial Gases sub-industry. Industrial gas producers typically generate revenue through long-term supply contracts and on-site plant arrangements, which provide recurring cash flows tied to customer production volumes.
- Hydrogen project backlog drives long-term revenue growth
- Industrial gas volumes pressured by weak manufacturing demand
- Energy cost volatility impacts atmospheric gas margins
- Capital allocation focused on clean hydrogen megaprojects
- Helium supply tightness supports specialty gas pricing
| 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 (17.7b) to EBITDA (950.8m): 18.58 < 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: 0.89 (Receivables 2.60b/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 = -3.03 (Cap -4..+1) = AA |
As of September 29, 2026, the stock is trading at USD 278.75 with a total of 1,157,912 shares traded. Over the past week, the price has changed by -0.25%, over one month by -9.52%, over three months by +3.37% and over the past year by +5.80%.
Current recommended Stop Loss: 271.80 (which is 2.5% 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 | 345.1 | 23.8% |
P/E Forward = 19.7239
P/S = 4.9382
P/B = 4.558
P/EG = 2.045
Revenue TTM = 12.6b USD
EBIT TTM = -593.1m USD
EBITDA TTM = 950.8m USD
Long Term Debt = 16.8b USD (from longTermDebt, last quarter)
Short Term Debt = 896.2m USD (from shortTermDebt, last quarter)
Debt = 18.6b USD (from shortLongTermDebtTotal, last quarter) + Leases 489.8m
Net Debt = 17.7b USD (calculated: Debt 18.6b - CCE 980.5m)
Enterprise Value = 79.9b USD (62.2b + Debt 18.6b - CCE 980.5m)
Interest Coverage Ratio = -2.68 (Ebit TTM -593.1m / Interest Expense TTM 221.2m)
EV/FCF = 38.83x (Enterprise Value 79.9b / FCF TTM 2.06b)
FCF Yield = 2.58% (FCF TTM 2.06b / Enterprise Value 79.9b)
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 = 1.98 (Enterprise Value 79.9b / Total Assets 40.4b)
Interest Expense / Debt = 1.19% (Interest Expense 221.2m / Debt 18.6b)
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 = 1.34 (Debt 18.6b / totalStockholderEquity, last quarter 13.9b)
Debt / EBITDA = 18.58 (Net Debt 17.7b / EBITDA 950.8m)
Debt / FCF = 8.59 (Net Debt 17.7b / 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 = -1.87% (EBIT -593.1m / Capital Employed (Equity 15.0b + L.T.Debt 16.8b))
RoIC = -1.30% (negative operating profit) (NOPAT -468.5m / Invested Capital 36.1b)
WACC = 6.46% (E(62.2b)/V(80.9b) * Re(8.11%) + D(18.6b)/V(80.9b) * Rd(1.19%) * (1-Tc(0.21)))
Discount Rate = 8.11% (= 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 = 73.51 (EV 34.0b - Net Debt 17.7b = Equity 16.4b / 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=3.47 | Chg30d=+0.24% | Revisions=+50% | Analysts=9
EPS current Year (2026-09-30): EPS=13.45 | Chg30d=+0.09% | Revisions=+86% | GrowthEPS=+11.8% | GrowthRev=+6.0%
EPS next Year (2027-09-30): EPS=14.44 | Chg30d=+0.01% | Revisions=+68% | GrowthEPS=+7.3% | GrowthRev=+5.7%
[Analyst] Revisions Ratio: +81% (up=42, down=3)