Stock Analysis
Air Products & Chemicals, Inc.APD
Sector: Basic Materials · Industry: Industrial Inorganic Chemicals
AnalystsBuy27 analystsPrice is 83% of the way from the year's low to its high.
Cash covers 5% of debt · Q3 2026.
PMP Verdict
Weak fundamentals
Strengths
- Financial Health60
Risks
- Growth6
- Profitability25
Weak fundamentals — valuation is the only support.
Bull Case
- ✓Interest coverage 11.5× — debt well covered
What's happening with APD
Profile
growth, profitability, valuation and moat lag behind.
How is each axis scored?
- Valuation27/100 · Weak
- P/E vs own history (n/a)10/25
- FCF yield (-0.5%)0/25
- P/S (5.3x)12/25
- EV/EBIT (27.1x)5/25
- Growth6/100 · Weak
- Revenue CAGR (3.9%)6/25
- Net income CAGR (n/a)0/25
- EPS CAGR 5Y (n/a)0/25
- Fwd implied growth (n/a)0/25
- Profitability25/100 · Weak
- ROIC (7.3%)5/25
- ROE (-0.3%)0/25
- Net margin (-0.4%)0/25
- Operating margin (24.7%)20/25
- Financial Health60/100 · Moderate
- Altman Z (2.66)18/25
- Current ratio (1.08)12/25
- Interest coverage (11.5x)25/25
- Net cash / debt (D/A 43%)5/25
- Quality55/100 · Moderate
- Piotroski F (3/9)5/25
- Beneish M (-3.02)25/25
- FCF conversion (n/a)0/25
- Margin stability (σ 2.4%)25/25
- Moat34/100 · Weak
- ROIC >12% years (4/9 yrs)6/25
- Median gross margin (30.7%)13/25
- FCF-positive years (6/9 yrs)10/25
- Worst-year net margin (worst -3.3%)5/25
Risk Flags
- ⚠Negative FCF margin (-0.0%) — burning cash
About Air Products & Chemicals, Inc.
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. Show more
The company is the world's largest supplier of hydrogen and helium. It has a unique portfolio serving customers across industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated roughly $12 billion in revenue in fiscal 2025.
Headquarters: ALLENTOWN, PA · Employees: 21,300 · Website ↗
Price History
Weekly Candlestick Chart — up to 5Y
Key Metrics
Financial snapshot · Tap any metric for its definition and grade
TTM Snapshot
trailing twelve months · YoYValuation
27EP/E (TTM)—
Price / TTM EPS (own statements)
P/FCF212.4xD
Grade D: ExpensivePrice / Free Cash Flow per share (Finnhub). Inverse of FCF yield — negative when FCF is negative · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
FCF Yield-0.5%D
Grade D: NegativeTTM (OCF − CapEx) / Market Cap — vs own 5Y history: -9.0%–2.5% · 62nd pct · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
P/S (TTM)5.30xC
Grade C: ExpensivePrice / TTM Revenue (own statements) — vs own 5Y history: 3.9x–7.1x · 69th pct
EV/EBIT27.1xD
Grade D: ExpensiveEnterprise value / TTM EBIT (D&A not in our data) — capital-structure neutral — vs own 5Y history: 16.8x–53.5x · 42nd pct
EV/Sales6.5xC
Grade C: ExpensiveEnterprise Value / TTM Revenue (Finnhub) — capital-structure neutral sales multiple
Forward P/E20.0xB
Grade B: FairPrice / next-year EPS estimate — shows whether the TTM multiple is rich or just front-loading growth
P/B Ratio4.03xC
Grade C: ExpensivePrice to Book Value. Neg. equity = heavy buybacks
PEG Ratio2.34C
Grade C: ExpensiveFinnhub PEG — their P/E basis ÷ expected EPS growth. Suppressed when their P/E diverges >2× from our TTM P/E (different basis)
Dividend Yield2.43%A
Grade A: PaysTTM dividend yield (Finnhub) — annual dividends / price. None = no dividend; very high yield can signal distress
Payout Ratio75.6%C
Grade C: HighDividends / Net Income (Finnhub) — share of earnings paid out; >90% or negative = unsustainable
CapEx exceeds OCF: CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
Profitability
25EROIC7.3%D
Grade D: LowNOPAT (EBIT less ~21% tax) / invested capital (equity + debt − cash). Flagship quality metric — durable >15% signals a moat
ROE-0.3%D
Grade D: WeakReturn on Equity. Neg. equity = heavy buybacks
ROA-0.1%D
Grade D: WeakReturn on Assets (Finnhub) — Net Income / Total Assets; how efficiently assets produce profit
Net Margin-0.4%D
Grade D: LowNet Income / Revenue
Operating Margin24.7%C
Grade C: AverageTTM EBIT / TTM Revenue
Gross Margin32.1%C
Grade C: AverageGross Profit / Revenue
FCF Margin-2.4%D
Grade D: LowFCF / Revenue · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
True FCF Margin-2.8%D
Grade D: LowTTM (OCF − CapEx − SBC) / TTM Revenue — SBC treated as a real cost · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
Growth
6ERevenue CAGR3.9%D
Grade D: LowCompound annual revenue growth (up to 5Y depending on data availability)
Net Income CAGR—
Compound annual net income growth (up to 5Y depending on data availability)
EPS CAGR (5Y)—
Compound annual EPS growth over up to 5Y of per-share earnings (own statements). Null when either endpoint EPS ≤ 0
Implied EPS Growth—
Analyst forward EPS (normalized basis) vs our GAAP TTM EPS — different bases, so extreme values usually mark cyclically depressed TTM earnings, not real growth
Dilution (5Y)+0.1%B
Grade B: FlatShare count change over 5Y
SBC / Net Income—
Stock-based comp/Net income. >30% = dilution risk
SBC / Revenue0.4%A
Grade A: LowTTM stock-based comp / TTM Revenue
Financial Health
60BAltman Z-Score2.66C
Grade C: Gray zoneBankruptcy risk. >3 Safe, <1.8 Distress
Current Ratio1.08xC
Grade C: OkCurrent Assets/Liabilities
Quick Ratio0.89xC
Grade C: Ok(Current Assets − Inventory) / Current Liabilities (Finnhub) — stricter liquidity test, excludes inventory
Interest Coverage11.5xA
Grade A: StrongEBIT/Interest. >10 Strong
Debt Repayment—
Years to repay net debt via FCF · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
Net Debt/EBIT5.6xD
Grade D: HighLeverage. <2x Low, >4x High
Debt/Equity1.10xC
Grade C: MedDebt / Equity: <1 Conservative, >2 Risky. Not meaningful with non-positive equity; shown as unavailable rather than low debt.
Cash / Debt0.05xD
Grade D: ThinCash covers how much of total debt. >1 = could repay all debt from cash
Quality
55CPiotroski F-Score3/9D
Grade D: WeakFinancial strength 0–9. >7 Strong
Beneish M-Score-3.02A
Grade A: SafeEarnings manipulation risk. < -2.22 Safe
FCF Conversion—
FCF / Net Income · CapEx exceeds operating cash flow (107% of OCF) — reported FCF understates normalized earning power in this investment phase
Margin Stability2.4%A
Grade A: StableEBIT margin std deviation. Lower = stable
Capex / Revenue38.7%D
Grade D: HeavyTTM CapEx / TTM Revenue — high % = capital-hungry business
Asset Turnover0.31xD
Grade D: LowRevenue / Total Assets (Finnhub) — how efficiently the asset base generates sales
Insider Transactions
SEC Form 4 · 8 recordsP/S codes are the directional signal; grants, option exercises and tax withholding carry none. Form 4 doesn't flag 10b5-1 plans — scheduled sales may appear within open-market sells.
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
Stern Alfred Filed | Stern Alfred | Grant / award | +99 | |
Smith Wayne Thomas Filed | Smith Wayne Thomas | Grant / award | +34 | |
Graziano Jessica Filed | Graziano Jessica | Grant / award | +170 | |
Ungerleider Howard I Filed | Ungerleider Howard I | Grant / award | +6 | |
Patel Bhavesh V. Filed | Patel Bhavesh V. | Grant / award | +138 |
Show 3 more filingsShow fewer filings
| Trade date | Insider | Transaction | Shares | Filed |
|---|---|---|---|---|
CALAWAY TONIT M Filed | CALAWAY TONIT M | Grant / award | +20 | |
Evans Andrew W Filed | Evans Andrew W | Grant / award | +8 | |
REILLEY DENNIS H Filed | REILLEY DENNIS H | Grant / award | +17 |
More metrics — Moat, Per Share, Balance Sheet, MarketHide additional metrics
Moat
34DROIC >12% Years4/9 yrsD
Grade D: WeakShare of completed fiscal years with ROIC > 12% — measures multi-year capital-return durability
Gross Margin (Med.)30.7%C
Grade C: ModerateMedian annual gross margin across available fiscal years — pricing-power durability
FCF-Positive Years6/9 yrsD
Grade D: WeakShare of completed fiscal years with positive free cash flow
Net Margin Floor-3.3%D
Grade D: WeakWeakest annual net margin across completed fiscal years — recession/downcycle resilience
Per Share
EPS (TTM)—
TTM net income per share (Finnhub fallback)
Cash / Share$4.40
Cash & short-term investments per share (Finnhub)
Book Value / Share$62.35
Shareholders' equity per share (Finnhub). Negative = accumulated losses / heavy buybacks
Balance Sheet
Total Debt$18.27B
Total debt obligations (short + long term)
Cash & Equiv.$1.00B
Cash and short-term investments
Net Debt$17.27B
Total Debt minus Cash. Negative = Net Cash position
Total Equity$16.60B
Shareholders' equity (book value)
Asset / Liability1.70xC
Grade C: AdequateTotal Assets / Total Liabilities
Market
Market Cap$66.81B
Current Market Capitalization
Beta0.70B
Grade B: DefensivePrice sensitivity vs the market (Finnhub) — 1.0 moves with market, >1.2 amplifies swings
How grades work: each metric is graded A–D against fixed thresholds (tap a row for the meaning). Card grades map the pillar score to A+–E — a card grade is that pillar's own score, not an average of the rows shown.
Financials as of Jun 2026 · Ratio snapshot Oct 16, 2026
Key Insights: Air Products & Chemicals, Inc. (APD)
APD is up 1.01% at the last close. Air Products & Chemicals, Inc. meets only 3 of 9 Piotroski F-Score criteria — a sign of weak underlying fundamentals. Altman Z-Score of 2.66 falls in the grey zone (1.81–2.99) — financial distress is unlikely but not ruled out. Beneish M-Score of -3.02 suggests a low likelihood of earnings manipulation. Free-cash-flow margin is negative (-2%) — the business currently burns cash.
- Company has negative FCF, making debt repayment from operations difficult.
- Air Products & Chemicals, Inc. posted a net loss in 1 of 9 available completed fiscal years (2017–2025).
- At a valuation score of 27/100, APD trades at a premium to its historical multiples.
- The stock currently yields 2.4% in dividends.
See how APD ranks on the Capex Tracker — top 50 capital spenders compared.
Recent Market Moves
See all APD moves →| Date | Session | Price | Move | Z-Score |
|---|---|---|---|---|
| Oct 2 | Regular | 278.30 | +1.82% | 2.22 |
| Sep 22 | Regular | 287.86 | +3.01% | 3.64 |
| Sep 22 | After-hours | 287.90 | +3.02% | 3.65 |
Frequently Asked Questions about APD
What is the current Air Products & Chemicals, Inc. (APD) stock price?
APD is trading at $299.59 at the last market close, up 1.01% on the session. PreMarketPrice tracks APD pre-market, intraday and after-hours prices.
Is APD stock a buy right now?
PreMarketPrice's quantitative model rates Air Products & Chemicals, Inc.'s financial health at 60/100. This is a data-driven snapshot of fundamentals, not investment advice.
Is APD stock overvalued?
Air Products & Chemicals, Inc. trades at a trailing P/E of n/a and our valuation score rates it 27/100 (higher = cheaper vs. its own history). See the Valuation History and Key Metrics sections for forward P/E, EV/EBITDA and PEG context.
When does Air Products & Chemicals, Inc. report earnings?
No confirmed earnings date is currently scheduled for APD. The Earnings section lists recent reports and updates as dates are announced.
What sector does Air Products & Chemicals, Inc. operate in?
Air Products & Chemicals, Inc. operates in the Basic Materials sector, within the Industrial Inorganic Chemicals industry. The Related Stocks section lists sector peers for comparison.
What does Air Products & Chemicals, Inc. do?
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees.
About Air Products & Chemicals, Inc. (APD) Stock
Air Products & Chemicals, Inc. (APD) is a US-listed stock operating in the Basic Materials sector, specifically the Industrial Inorganic Chemicals industry. As of the latest update, Air Products & Chemicals, Inc. is trading at $299.59, up 1.01% on the day with a market capitalization of $66.8 billion. The financial health score for APD is 60/100, which indicates good financial strength based on profitability, leverage, liquidity, and growth metrics. This page provides real-time pre-market pricing, earnings calendar, financial health analysis, and valuation metrics for APD stock.
APD Stock Analysis & Key Metrics
On PreMarketPrice, you can track Air Products & Chemicals, Inc. (APD) across multiple dimensions:
- Pre-market price & movement: Real-time APD stock price with percentage change, updated continuously during pre-market and regular trading hours.
- Valuation & P/E history: Historical P/E, P/S, and P/B ratios for APD with trend analysis and normalized valuation multiples.
- Financial statements: Revenue, net income, assets, liabilities, and equity for Air Products & Chemicals, Inc. across multiple reporting periods.
- Financial health score: A composite score of 60/100 based on Altman Z-Score, Piotroski F-Score, profitability, and leverage metrics for APD.
- Sector peers: Compare APD against 4 other basic materials stocks on key financial metrics.
Is APD a Good Stock to Buy?
This page provides data-driven analysis to help you evaluate Air Products & Chemicals, Inc. (APD) as an investment. The financial health score of 60/100 suggests good financial fundamentals. Valuation metrics show whether the stock is trading above or below its historical average.However, this is not financial advice — always do your own research before investing.
Data on this page is sourced from real-time market feeds, Polygon.io, and Finnhub.Air Products & Chemicals, Inc. (APD) trades on NYSE/NASDAQ. Pre-market trading occurs 4:00 AM – 9:30 AM ET. Regular market hours are 9:30 AM – 4:00 PM ET.