Air Products & Chemicals, Inc. (APD)
Air Products & Chemicals, Inc. brought in $12.6B of revenue over the twelve months to June 30, 2026, up 4.5% from a year earlier. It posted a net loss of $47.3M. In fiscal 2025 capital spending exceeded operating cash flow by $3.8B. At June 30, 2026 it held $980.5M in cash against $769.5M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on July 30, 2026.
Key facts about Air Products & Chemicals, Inc.
- Net worth
- Air Products & Chemicals, Inc. has a market value (market cap) of $62.2B at the latest share price, and shareholders' equity of $13.9B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $12B (-0.5% year on year), with a net loss of $394.5M. Over the 12 months to June 30, 2026: revenue $12.6B, net loss $47.3M.
- Cash flow
- In fiscal 2025 operations brought in $3.3B of cash; after $7B of capital spending, free cash flow was -$3.8B.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on July 30, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
- Next earnings report
- Air Products & Chemicals, Inc.'s next report is expected around November 5, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
- Dividend
- Air Products & Chemicals, Inc. declared dividends of $7.14 per share in fiscal 2025, a yield of 2.56% at the current price.
What Air Products & Chemicals, Inc. does
Air Products and Chemicals supplies industrial gases such as hydrogen, nitrogen, oxygen, argon, and helium. It also builds gas processing equipment and cryogenic systems. Its customers include companies in refining, chemical manufacturing, metals processing, electronics, healthcare, and food packaging. The business is known for supplying pipeline hydrogen to refineries and liquid hydrogen to industrial users. Its shares trade on NYSE under the ticker APD.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $12B | -$394.5M | -$1.77 | -$3.8B |
| 2024 | $12.1B | $3.8B | $17.18 | -$3.2B |
| 2023 | $12.6B | $2.3B | $10.33 | -$1.4B |
| 2022 | $12.7B | $2.3B | $10.14 | $244.1M |
| 2021 | $10.3B | $2.1B | $9.43 | $871M |
| 2020 | $8.9B | $1.9B | $8.49 | $755.7M |
Full financial statements: income, balance sheet and cash flow
Where APD ranks in Basic materials
Dividends
Air Products & Chemicals, Inc. declared $7.14 per share in fiscal 2025. At the current price that is a yield of 2.56%. It paid out $1.6B in cash dividends.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | $7.14 | $1.6B | n/a |
| 2024 | $7.06 | $1.6B | 41% |
| 2023 | $6.87 | $1.5B | 65% |
| 2022 | $6.36 | $1.4B | 61% |
| 2021 | $5.84 | $1.3B | 60% |
| 2020 | $5.18 | $1.1B | 58% |
Latest SEC filings
What Air Products & Chemicals, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- July 30, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 4.6% to $3.2B versus the same quarter last year; diluted EPS -$6.47 versus $3.20.
- July 30, 2026
- June 30, 2026Asset write-down 8-K
- June 23, 2026
- May 29, 2026
- May 14, 2026Passive stake changed SCHEDULE 13G/A
- May 14, 2026Passive stake changed SCHEDULE 13G/A
- April 30, 2026Quarterly report 10-Q · period to March 31, 2026Revenue rose 8.8% to $3.2B versus the same quarter last year; diluted EPS $3.19 versus -$7.77.
- April 30, 2026
- April 29, 2026Passive stake (5% or more) SCHEDULE 13G
Insider trades
What the people running Air Products & Chemicals, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider bought or sold shares on the open market in the last 90 days. The 1 reported changes were pay in shares, option exercises, shares withheld for tax or gifts.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 18, 2026 | Lepore MatthewEVP & General Counsel | Shares withheld for tax | 418 | $126.9K |
| May 1, 2026 | Schaeffer Melissa N.Exec Vice President and CFO | Sold | 2,714 | $824.4K |
| February 12, 2026 | Mantle Ridge LPDirector | Other changeindirect | 3,943,847 | - |
| February 12, 2026 | Mantle Ridge LPDirector | Soldindirect | 70,175 | $19.9M |
| February 12, 2026 | Mantle Ridge LPDirector | Gave as a giftindirect | 1,759 | - |
| December 3, 2025 | Lefevere KurtPresident, Asia | Shares withheld for tax | 64 | $16.7K |
| December 3, 2025 | Schaeffer Melissa N.Exec Vice President and CFO | Other changeindirect | 44 | - |
| December 3, 2025 | Maione FrancescoPresident, Americas | Other changeindirect | 11 | - |
Who owns APD
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Vanguard Capital Management13G, passive | 7.51% | April 29, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 1,768 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| BlackRock, Inc. | 18,316,711 | +262,275 |
| Vanguard Capital Management LLC | 14,540,399 | +73,083 |
| State Farm Mutual Automobile Insurance Co | 11,840,799 | 0 |
| Capital Research Global Investors | 10,602,157 | +191,647 |
| State Street Corp | 10,270,853 | +160,358 |
| Capital International Investors | 9,567,173 | -368,505 |
| Dodge & Cox | 9,393,493 | +161,918 |
| Vanguard Portfolio Management LLC | 8,848,570 | +3,137,491 |
| Geode Capital Management, LLC | 5,020,340 | +28,617 |
| Jpmorgan Chase & Co | 5,253,985 | -795,275 |
| Viking Global Investors LP | 4,740,351 | +636,256 |
| Norges Bank | 4,672,467 | new |
| Bank of America Corp | 4,150,953 | -292,578 |
| Franklin Resources Inc | 3,436,461 | -50,490 |
| Morgan Stanley | 3,164,691 | -4,486 |
| Raymond James Financial Inc | 3,161,189 | -29,551 |
| Northern Trust Corp | 3,003,864 | -62,160 |
| Royal Bank of Canada | 2,641,523 | +120,054 |
| Clearbridge Investments, LLC | 2,537,859 | -73,842 |
| Aristotle Capital Management, LLC | 2,513,746 | -170,137 |
Insiders
9 insiders reported holding 180,368 shares in total, about $50.4M at the last price.
| Holder | Shares |
|---|---|
| Mantle Ridge LPDirector | 91,74091,740 held indirectly |
| Menezes Eduardo FChief Executive Officer | 30,76238 held indirectly |
| Maione FrancescoPresident, Americas | 17,53511 held indirectly |
| Schaeffer Melissa N.Exec Vice President and CFO | 14,667455 held indirectly |
| Bols IvoPresident, Europe & Africa | 12,834 |
| Lepore MatthewEVP & General Counsel | 5,160 |
| Pellicciotti William J JrPrincipal Accounting Officer | 4,250143 held indirectly |
| Lefevere KurtPresident, Asia | 3,415 |
| Evans Andrew WDirector | 5 |
Questions about APD
What does Air Products & Chemicals, Inc. do?
Air Products and Chemicals supplies industrial gases such as hydrogen, nitrogen, oxygen, argon, and helium. It also builds gas processing equipment and cryogenic systems. Its customers include companies in refining, chemical manufacturing, metals processing, electronics, healthcare, and food packaging. The business is known for supplying pipeline hydrogen to refineries and liquid hydrogen to industrial users. Its shares trade on NYSE under the ticker APD.
What is Air Products & Chemicals, Inc.'s net worth?
Air Products & Chemicals, Inc. has a market value (market cap) of $62.2B at the latest share price, and shareholders' equity of $13.9B on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Air Products & Chemicals, Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $47.3M on revenue of $12.6B.
How much revenue does Air Products & Chemicals, Inc. make?
Over the twelve months to June 30, 2026 Air Products & Chemicals, Inc. reported revenue of $12.6B. That is 4.5% more than a year earlier.
When did Air Products & Chemicals, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on July 30, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the insider trade from October 1, 2026.
When is Air Products & Chemicals, Inc.'s next earnings report?
Air Products & Chemicals, Inc.'s next report is expected around November 5, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
Does Air Products & Chemicals, Inc. pay a dividend?
Yes. Air Products & Chemicals, Inc. declared dividends of $7.14 per share in fiscal 2025, a yield of 2.56% at the current price.
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Follow APD: get an email when it filesWhere the numbers come from
Financial figures are the values Air Products & Chemicals, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.