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Air Products & Chemicals vs Luxfer: revenue, profit, margins and growth compared

Air Products & Chemicals brought in $12B of revenue in fiscal 2025, Luxfer $384.6M in fiscal 2025. Revenue changed by -0.5% at Air Products & Chemicals and -1.9% at Luxfer on the year before, so Air Products & Chemicals grew faster. Air Products & Chemicals kept -3.3% of its revenue as net profit, Luxfer 2.0%. Free cash flow was -$3.8B at Air Products & Chemicals and $26.2M at Luxfer.

Side by side, latest fiscal year

APDLXFR
Fiscal year endedFY2025 (September 30, 2025)FY2025 (December 31, 2025)
Revenue$12B$384.6M
Revenue growth-0.5%-1.9%
Net income-$394.5M$7.7M
Net margin-3.3%2.0%
Free cash flow-$3.8B$26.2M
Free cash flow margin-31.3%6.8%
Earnings per share (diluted)-$1.77$0.28
Cash$1.9B$8.3M
Debt$17.7B$39.4M
Price to earningsn/a61.6
Market value$62.7B$461.6M
Dividend yield2.53%n/a
Rank by revenue in sector#7 of 71 · Basic materials#44 of 71 · Basic materials

Over the years

Revenue
APD FY2018: $8.9BAPD FY2019: $8.9BAPD FY2020: $8.9BAPD FY2021: $10.3BAPD FY2022: $12.7BAPD FY2023: $12.6BAPD FY2024: $12.1BAPD FY2025: $12BLXFR FY2018: $401.9MLXFR FY2019: $373.4MLXFR FY2020: $324.8MLXFR FY2021: $374.1MLXFR FY2022: $423.4MLXFR FY2023: $405MLXFR FY2024: $391.9MLXFR FY2025: $384.6MFY18FY19FY20FY21FY22FY23FY24FY25
APD $12BLXFR $384.6M
Net income
APD FY2018: $1.5BAPD FY2019: $1.8BAPD FY2020: $1.9BAPD FY2021: $2.1BAPD FY2022: $2.3BAPD FY2023: $2.3BAPD FY2024: $3.8BAPD FY2025: -$394.5MLXFR FY2018: $25MLXFR FY2019: $3.1MLXFR FY2020: $20MLXFR FY2021: $29.9MLXFR FY2022: $26.9MLXFR FY2023: -$1.9MLXFR FY2024: $18.4MLXFR FY2025: $7.7MFY18FY19FY20FY21FY22FY23FY24FY25
APD -$394.5MLXFR $7.7M
Net margin
APD FY2018: 16.8%APD FY2019: 19.7%APD FY2020: 21.3%APD FY2021: 20.3%APD FY2022: 17.8%APD FY2023: 18.3%APD FY2024: 31.6%APD FY2025: -3.3%LXFR FY2018: 6.2%LXFR FY2019: 0.8%LXFR FY2020: 6.2%LXFR FY2021: 8.0%LXFR FY2022: 6.4%LXFR FY2023: -0.5%LXFR FY2024: 4.7%LXFR FY2025: 2.0%FY18FY19FY20FY21FY22FY23FY24FY25
APD -3.3%LXFR 2.0%
Revenue growth
APD FY2019: -0.1%APD FY2020: -0.7%APD FY2021: +16.6%APD FY2022: +23.0%APD FY2023: -0.8%APD FY2024: -4.0%APD FY2025: -0.5%LXFR FY2019: -7.1%LXFR FY2020: -13.0%LXFR FY2021: +15.2%LXFR FY2022: +13.2%LXFR FY2023: -4.3%LXFR FY2024: -3.2%LXFR FY2025: -1.9%FY19FY20FY21FY22FY23FY24FY25
APD -0.5%LXFR -1.9%
Free cash flow
APD FY2018: $978.8MAPD FY2019: $980.2MAPD FY2020: $755.7MAPD FY2021: $871MAPD FY2022: $244.1MAPD FY2023: -$1.4BAPD FY2024: -$3.2BAPD FY2025: -$3.8BLXFR FY2018: $50MLXFR FY2019: -$7.3MLXFR FY2020: $41.6MLXFR FY2021: $17MLXFR FY2022: $7.6MLXFR FY2023: $16.9MLXFR FY2024: $40.8MLXFR FY2025: $26.2MFY18FY19FY20FY21FY22FY23FY24FY25
APD -$3.8BLXFR $26.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Air Products & Chemicals and Luxfer

Which is bigger by revenue, Air Products & Chemicals or Luxfer?

Air Products & Chemicals is bigger by revenue: $12B in fiscal 2025, against $384.6M for Luxfer in fiscal 2025.

Which keeps more of its revenue as profit, Air Products & Chemicals or Luxfer?

Air Products & Chemicals had a net margin of -3.3% in fiscal 2025; Luxfer had 2.0% in fiscal 2025.

Which grew revenue faster, Air Products & Chemicals or Luxfer?

In their latest fiscal years revenue changed by -0.5% at Air Products & Chemicals and -1.9% at Luxfer.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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