Valuation, from the filing
| Public float | $65.60B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-03-31 |
|---|---|---|
| Float per share | $294.71 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 5.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 3.8× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-03-31, not today, and each multiple below it uses the figures for the fiscal year ending 2025-09-30 — the year that filing covered.
Valuation over time
14.0× earnings today, against a median of 23.9× across 9 years on record. Below its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2024-03-31 | $53.70B | 14.0× | |
| 2023-03-31 | $63.60B | 27.6× | |
| 2022-03-31 | $55.30B | 24.5× | |
| 2021-03-31 | $62.10B | 29.6× | |
| 2020-03-31 | $44.00B | 23.3× | |
| 2019-03-29 | $42.00B | 23.9× | |
| 2018-03-31 | $34.80B | 23.2× | |
| 2017-03-31 | $29.30B | 9.8× | |
| 2016-03-31 | $31.00B | 49.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Industrial Inorganic Chemicals filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| CapEx / revenue | 58.3% | 100th | |
| Gross margin | 31.4% | 100th | |
| Current ratio | 1.38x | 20th | |
| Operating margin | -7.3% | 22th | |
| SBC / revenue | 0.6% | 25th | |
| Net margin | -3.3% | 33th | |
| Revenue YoY growth | -0.5% | 62th | |
| R&D / revenue | 0.8% | 43th |
Air Products & Chemicals, Inc. (APD) reported revenue of $12.60B and net income of -$47.30M for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Air Products & Chemicals, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Industrial Inorganic Chemicals.
Income
| Metric | 2026-06-30 |
|---|---|
| Revenue | $12.60B |
| Cost of revenue | $8.56B |
| Gross profit | $4.04B |
| Operating income | -$593.10M |
| Net income | -$47.30M |
| Research & development | $90.80M |
| Weighted-average diluted shares | Unavailable |
| Pretax income | -$82.10M |
| Income tax expense | -$86.10M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $894.10M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $980.50M |
| Total assets | $40.45B |
| Current assets | $4.96B |
| Total liabilities | $23.85B |
| Current liabilities | $4.58B |
| Total equity incl. NCI | $16.60B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $751.60M |
| Accounts receivable | $1.88B |
| Goodwill | $957.40M |
| Long-term debt | Unavailable |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | Unavailable |
| Capital expenditures | $4.87B |
| Investing cash flow | Unavailable |
| Financing cash flow | Unavailable |
| Net change in cash | -$1.34B |
| Stock-based compensation | $49.40M |
| Common dividends paid | $1.60B |
| Common share repurchases | Unavailable |
| Depreciation & amortization | $1.54B |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | 32.1% |
| Operating margin | -4.7% |
| FCF margin | Unavailable |
| SBC / revenue | 0.4% |
| Current ratio | 1.08x |
| Revenue YoY growth | 4.5% |
| Net margin | -0.4% |
| R&D / revenue | 0.7% |
| CapEx / revenue | 38.7% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open APD in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.