APD
Air Products and Chemicals Inc.Stock · MaterialsS&P 500 Equal Weight 0.2% · S&P 500 0.1% · Russell 1000 0.09% · US Stock Market 0.09% · Russell 3000 0.09% · MSCI ACWI 0.07% · MSCI World 0.07%$291.43-0.76%
as of market close, Sep 11, 2026
☾ AH — —
APD financial statements
The full income statement, balance sheet, and cash-flow statement for Air Products and Chemicals Inc. (APD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 222.3M2024-09 222.4M2024-12 222.5M2025-03 222.5M2025-06 222.6M2025-09 222.6M2025-12 222.7M2026-03 222.7M2026-06 222.7M+0.2% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofSep 30 ’25 | as ofSep 30 ’24 | as ofSep 30 ’23 | as ofSep 30 ’22 | as ofSep 30 ’21 | |
| Revenue | 12.0B-0.5% | 12.1B-4.0% | 12.6B-0.8% | 12.7B+23.0% | 10.3B+16.6% | |
| Cost of revenue | 8.26B+1.1% | 8.17B-7.5% | 8.83B-5.4% | 9.34B+30.0% | 7.19B+22.7% | |
| Research & development | 96.3M-3.9% | 100M-5.1% | 106M+2.6% | 103M+10.1% | 93.5M+11.4% | |
| Selling, general & administrative | 906M-3.9% | 942M-1.5% | 957M+6.3% | 901M+8.7% | 828M+6.8% | |
| Restructuring | 3.75B+6473.7% | 57.0M-76.7% | 245M+231.9% | 73.7M | 0.00 | |
| Amortization of intangibles | 37.3M+18.4% | 31.5M-3.1% | 32.5M-8.5% | 35.5M-4.6% | 37.2M+7.8% | |
| Provision for credit losses | 10.3M-3.7% | 10.7M+30.5% | 8.20M+9.3% | 7.50M+177.8% | 2.70M-64.9% | |
| Operating income | -877M-119.6% | 4.47B+79.0% | 2.49B+6.7% | 2.34B+2.5% | 2.28B+2.0% | |
| Interest expense | 214M-2.2% | 219M+23.3% | 178M+38.7% | 128M-9.7% | 142M+29.7% | |
| Other non-operating income | 2.60M+103.5% | -73.8M-89.2% | -39.0M-162.5% | 62.4M-15.3% | 73.7M+140.1% | |
| Equity-method income | 648M+0.0% | 648M+7.2% | 604M+25.5% | 482M+63.7% | 294M+11.1% | |
| Pre-tax income | -441M-109.1% | 4.82B+67.3% | 2.88B+4.6% | 2.75B+9.9% | 2.51B+3.4% | |
| Income tax | -94.3M-110.0% | 945M+71.4% | 551M+10.1% | 501M+8.2% | 463M-3.3% | |
| -395M-110.3% | 3.83B+66.4% | 2.30B+2.0% | 2.26B+7.5% | 2.10B+11.3% | ||
| Income from continuing operations | -387M-110.1% | 3.84B+67.6% | 2.29B+2.2% | 2.24B+10.6% | 2.03B+6.7% | |
| Discontinued operations | -8.00M+42.4% | -13.9M-287.8% | 7.40M-41.3% | 12.6M-82.1% | 70.3M+591.6% | |
| Net income to non-controlling interest | 40.1M+17.3% | 34.2M-10.9% | 38.4M+269.2% | 10.4M-34.2% | 15.8M-64.4% | |
| -$1.77-110.3% | $17.18+66.3% | $10.33+1.9% | $10.14+7.5% | $9.43+11.1% | ||
| EPS (basic) | -$1.77-110.3% | $17.21+66.3% | $10.35+1.9% | $10.16+7.3% | $9.47+11.0% | |
| Weighted-avg shares (basic) | 223M+0.1% | 223M+0.1% | 222M+0.1% | 222M+0.2% | 222M+0.2% | |
| Weighted-avg shares (diluted) | 223M-0.0% | 223M+0.0% | 223M+0.1% | 223M+0.0% | 223M+0.1% | |
| Dividends per share | $7.14+1.1% | $7.06+2.8% | $6.87+8.0% | $6.36+8.9% | $5.84+12.7% | |
| Balance Sheet | as ofSep 30 ’25 | as ofSep 30 ’24 | as ofSep 30 ’23 | as ofSep 30 ’22 | as ofSep 30 ’21 | |
| 5.83B-8.4% | 6.36B+22.4% | 5.20B-17.2% | 6.28B-25.0% | 8.38B-3.6% | ||
| Cash & equivalents | 1.86B-37.7% | 2.98B+84.3% | 1.62B-40.4% | 2.71B-39.3% | 4.47B-14.9% | |
| Short-term investments | 0.00-100.0% | 5.00M-98.5% | 332M-43.8% | 591M-55.6% | 1.33B+20.5% | |
| Accounts receivable | 1.90B+4.4% | 1.82B+7.1% | 1.70B-5.2% | 1.79B+23.6% | 1.45B+13.8% | |
| Inventory | 777M+1.4% | 766M+17.5% | 652M+26.8% | 514M+13.3% | 454M+12.1% | |
| Prepaid expenses | 175M-2.8% | 180M+1.6% | 177M+12.9% | 157M+31.3% | 119M-27.4% | |
| Other current assets | 690M+12.9% | 611M-15.4% | 722M+40.0% | 516M-6.4% | 551M+14.1% | |
| 41.1B+3.8% | 39.6B+23.7% | 32.0B+17.7% | 27.2B+1.2% | 26.9B+6.7% | ||
| Property, plant & equipment | 25.3B+8.4% | 23.4B+33.8% | 17.5B+23.4% | 14.2B+6.8% | 13.3B+10.8% | |
| Operating lease right-of-use | 944M-9.9% | 1.05B+7.6% | 974M+40.2% | 695M+22.7% | 566M+50.3% | |
| Goodwill | 964M+6.5% | 905M+5.0% | 862M+4.7% | 823M-9.7% | 912M+2.2% | |
| Intangible assets | 294M-5.8% | 312M-6.9% | 335M-3.7% | 348M-17.4% | 421M-3.5% | |
| Deferred tax assets | 128M+0.1% | 128M-19.9% | 160M+17.6% | 136M+35.4% | 100M-12.9% | |
| Other non-current assets | 1.02B-12.8% | 1.17B-4.7% | 1.23B+29.9% | 947M-37.1% | 1.51B+59.7% | |
| Total non-current assets | 35.2B+6.1% | 33.2B+23.9% | 26.8B+28.2% | 20.9B+13.1% | 18.5B+12.1% | |
| 4.22B+0.9% | 4.18B+7.3% | 3.90B+12.4% | 3.47B+23.8% | 2.80B+15.8% | ||
| Accounts payable | 1.44B-1.0% | 1.45B+19.7% | 1.21B+8.2% | 1.12B+52.1% | 737M+34.9% | |
| Accrued liabilities | 3.24B+10.6% | 2.93B+1.2% | 2.89B+4.3% | 2.77B+24.9% | 2.22B+21.0% | |
| Deferred revenue | 253M+5.6% | 240M-41.9% | 413M-5.9% | 439M+19.7% | 367M+16.9% | |
| Short-term & current debt | 34.7M-58.4% | 83.5M-67.8% | 260M+2325.2% | 10.7M+345.8% | 2.40M-68.8% | |
| Current lease liability | 91.8M-8.5% | 100M+5.9% | 94.7M+5.2% | 90.0M+14.5% | 78.6M+11.2% | |
| Other current liabilities | 283M+3.8% | 273M-3.0% | 282M+34.6% | 209M-12.2% | 238M-3.2% | |
| 23.7B+13.4% | 20.9B+27.9% | 16.3B+21.1% | 13.5B+5.6% | 12.8B+0.4% | ||
| Long-term debt | 17.7B+24.9% | 14.1B+40.8% | 10.0B+56.1% | 6.43B-6.4% | 6.88B-3.6% | |
| Deferred revenue (non-current) | 284M-2.2% | 290M+111.8% | 137M+103.7% | 67.2M+15.1% | 58.4M+0.9% | |
| Non-current lease liability | 616M-9.1% | 678M+7.4% | 631M+6.6% | 592M+17.6% | 503M+49.9% | |
| Operating lease liability (total) | 708M-9.0% | 778M+7.2% | 726M+6.4% | 682M+17.2% | 582M+43.2% | |
| Deferred tax liabilities | 580M-50.0% | 1.16B-8.4% | 1.27B+1.5% | 1.25B+5.6% | 1.18B+22.7% | |
| Other non-current liabilities | 1.35B-0.2% | 1.35B+20.8% | 1.12B+1.7% | 1.10B-33.0% | 1.64B-14.4% | |
| Total non-current liabilities | 19.5B+16.6% | 16.7B+34.3% | 12.4B+24.2% | 10.0B+0.5% | 9.97B-3.3% | |
| 15.0B-11.8% | 17.0B+19.0% | 14.3B+8.9% | 13.1B-2.9% | 13.5B+12.1% | ||
| Common stock | 249M+0.0% | 249M+0.0% | 249M+0.0% | 249M+0.0% | 249M+0.0% | |
| Additional paid-in capital | 1.31B+4.3% | 1.25B+5.3% | 1.19B+4.3% | 1.14B+2.3% | 1.12B+1.9% | |
| Retained earnings | 17.6B-10.2% | 19.5B+13.0% | 17.3B+4.7% | 16.5B+5.4% | 15.7B+5.4% | |
| Treasury stock | 2.00B+0.9% | 1.98B+0.9% | 1.97B-0.7% | 1.98B-0.3% | 1.99B-0.6% | |
| Accumulated other comprehensive income | -2.09B-3.0% | -2.03B+17.2% | -2.45B+12.1% | -2.79B-83.8% | -1.52B+29.2% | |
| Non-controlling interest | 2.32B+42.0% | 1.64B+21.5% | 1.35B+141.3% | 558M+1.8% | 548M+50.9% | |
| Total equity incl. non-controlling | 17.3B-7.1% | 18.7B+19.2% | 15.7B+14.3% | 13.7B-2.7% | 14.1B+13.2% | |
| Total liabilities & equity | 41.1B+3.8% | 39.6B+23.7% | 32.0B+17.7% | 27.2B+1.2% | 26.9B+6.7% | |
| Common shares issued | 249M+0.0% | 249M+0.0% | 249M+0.0% | 249M+0.0% | 249M+0.0% | |
| Common shares outstanding | 223M+0.1% | 222M+0.1% | 222M+0.2% | 222M+0.2% | 221M+0.2% | |
| Shares outstanding (cover) | 223M+0.1% | 222M+0.1% | 222M+0.2% | 222M+0.2% | 221M+0.2% | |
| Cash Flow | as ofSep 30 ’25 | as ofSep 30 ’24 | as ofSep 30 ’23 | as ofSep 30 ’22 | as ofSep 30 ’21 | |
| 3.26B-10.7% | 3.65B+13.8% | 3.21B+1.1% | 3.17B-4.9% | 3.34B+2.2% | ||
| Depreciation & amortization | 1.56B+7.8% | 1.45B+6.8% | 1.36B+1.5% | 1.34B+1.3% | 1.32B+11.5% | |
| Intangible amortization | 37.3M+18.4% | 31.5M-3.1% | 32.5M-8.5% | 35.5M-4.6% | 37.2M+7.8% | |
| Share-based compensation | 76.4M+23.6% | 61.8M+3.2% | 59.9M+23.8% | 48.4M+8.8% | 44.5M-16.8% | |
| Deferred income taxes | -555M-700.6% | -69.3M-180.6% | -24.7M-176.5% | 32.3M-65.6% | 94.0M-43.0% | |
| Change in receivables | 36.3M-67.3% | 111M+184.9% | -131M-127.5% | 475M+264.1% | 131M+402.1% | |
| Change in inventory | 35.8M-74.0% | 138M+6.5% | 129M+37.2% | 94.3M+99.8% | 47.2M+807.7% | |
| Other operating activities | 48.0M-73.9% | 184M+278.4% | -103M+66.2% | -305M-161.3% | -117M-200.3% | |
| Capital expenditure | 7.02B+3.3% | 6.80B+46.9% | 4.63B+58.1% | 2.93B+18.8% | 2.46B-1.8% | |
| Free cash flow | -3.77B-19.5% | -3.15B-121.7% | -1.42B-682.0% | 244M-72.0% | 871M+15.3% | |
| Acquisitions | 59.9M | 0.00 | 0.00-100.0% | 65.1M+520.0% | 10.5M-94.3% | |
| Purchases of investments | — | — | — | 1.64B-22.0% | 2.10B-26.7% | |
| Other investing activities | -115M-59.4% | -72.4M-1408.3% | -4.80M+31.4% | -7.00M-20.7% | -5.80M-48.7% | |
| Long-term debt issued | 4.39B-6.2% | 4.68B+33.0% | 3.52B+358.9% | 766M+328.3% | 179M-96.3% | |
| Long-term debt repaid | 430M-11.6% | 486M-21.0% | 615M+53.8% | 400M-13.6% | 463M+13.8% | |
| Net short-term debt | -74.7M+74.2% | -290M-208.1% | 268M+1398.3% | 17.9M+1690.0% | 1.00M+101.8% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 1.58B+1.2% | 1.56B+4.6% | 1.50B+8.2% | 1.38B+10.1% | 1.26B+13.9% | |
| Other financing activities | -91.3M+31.1% | -133M+35.6% | -206M-457.7% | -36.9M-59.7% | -23.1M+76.2% | |
| FX effect on cash | -7.00M-135.4% | 19.8M+204.6% | 6.50M+105.0% | -130M-568.7% | 27.8M+86.6% | |
| Net change in cash | -1.12B-182.5% | 1.36B+224.6% | -1.09B+37.8% | -1.76B-124.2% | -784M-126.1% | |
| Interest paid | 192M-3.0% | 198M+50.7% | 132M+2.3% | 129M-14.6% | 150M+123.8% | |
| Income taxes paid | 941M+52.7% | 616M-4.5% | 645M+74.8% | 369M-3.8% | 384M+1.0% | |
| Valuation Ratios | as ofSep 30 ’25 | as ofSep 30 ’24 | as ofSep 30 ’23 | as ofSep 30 ’22 | as ofSep 30 ’21 | |
| Market cap | 60.7B-8.3% | 66.2B+5.2% | 63.0B+21.9% | 51.6B-9.0% | 56.7B-13.8% | |
| P/E | — | 17.3×-39.8% | 28.7×+25.6% | 22.9×-15.3% | 27.0×-22.6% | |
| P/S | 5.0×-7.8% | 5.5×+12.8% | 4.9×+19.3% | 4.1×-26.0% | 5.5×-26.1% | |
| P/B | 4.0×+4.0% | 3.9×-12.7% | 4.5×+13.4% | 3.9×-6.2% | 4.2×-23.1% | |
| P/FCF | — | — | — | 211.5×+224.8% | 65.1×-25.3% | |
| Earnings yield | — | 5.8%+66.2% | 3.5%-20.4% | 4.4%+18.1% | 3.7%+29.1% | |
| FCF yield | — | — | — | 0.47%-69.2% | 1.5%+33.8% | |
| Dividend yield | 2.6%+10.4% | 2.4%-2.2% | 2.4%-11.3% | 2.7%+19.8% | 2.3%+31.1% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: APD’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all APD filings on SEC EDGAR → Not investment advice.