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Air Products & Chemicals, Inc.

CIK: 2969 SIC: 2810
$12.21B
Revenue
$-333.70M
Net Income
31.63%
Gross Margin
-6.44%
Op. Margin
-
Free Cash Flow
Financial Statements Annual (10-K)
Showing 5 of 17 annual reports available (2009 - 2025)
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
+ Total Revenue $12.21B $12.04B $12.10B $12.60B $12.70B $10.32B
Revenue Growth % 1.4% -0.5% -4.0% -0.8% 23.0% nan%
Cost of Revenue $8.35B $8.26B $8.17B $8.83B $9.34B $7.19B
+ Gross Profit $3.86B $3.78B $3.93B $3.77B $3.36B $3.14B
Gross Margin % 31.6% 31.4% 32.5% 29.9% 26.5% 30.4%
Research & Development $94.70M $96.30M $100.20M $105.60M $102.90M $93.50M
Selling General & Admin $892.40M $906.10M $942.40M $957.00M $900.60M $828.40M
+ Operating Income $-786.10M $-877.00M $4.47B $2.49B $2.34B $2.28B
Operating Margin % -6.4% -7.3% 36.9% 19.8% 18.4% 22.1%
Interest Expense $225.90M $214.00M $218.80M $177.50M $128.00M $141.80M
Other Income/Expense $-37.70M $2.60M $-73.80M $-39.00M $62.40M $73.70M
Income Before Tax $-380.40M $-440.70M $4.82B $2.88B $2.75B $2.51B
Income Tax Expense $-75.60M $-94.30M $944.90M $551.20M $500.80M $462.80M
+ Net Income $-333.70M $-394.50M $3.83B $2.30B $2.26B $2.10B
Net Margin % -2.7% -3.3% 31.6% 18.3% 17.8% 20.3%
Basic EPS nan -1.77 17.21 10.35 10.16 9.47
Diluted EPS nan -1.77 17.18 10.33 10.14 9.43
Basic Shares Outstanding 222.8M 222.7M 222.5M 222.3M 222.0M 221.6M
Diluted Shares Outstanding 222.9M 222.7M 222.8M 222.7M 222.5M 222.5M
Breakdown FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
Cash & Cash Equivalents $1.86B $2.98B $1.62B $2.71B $4.47B
Short-term Investments - $5.00M $332.20M $590.70M $1.33B
Accounts Receivable $1.90B $1.82B $1.70B $1.79B $1.45B
Inventory $776.50M $766.00M $651.80M $514.20M $453.90M
Other Current Assets $689.50M $610.80M $722.10M $515.80M $550.90M
Total Current Assets $5.83B $6.36B $5.20B $6.28B $8.38B
Property Plant & Equipment $25.34B $23.37B $17.47B $14.16B $13.25B
Goodwill $963.90M $905.10M $861.70M $823.00M $911.50M
Intangible Assets $293.50M $311.60M $334.60M $347.50M $420.70M
Other Non-current Assets $1.02B $1.17B $1.23B $1.64B $1.51B
Total Assets $41.06B $39.57B $32.00B $27.19B $26.86B
Short-term Debt $34.70M $83.50M $259.50M $10.70M $2.40M
Total Current Liabilities $4.22B $4.18B $3.90B $3.47B $2.80B
Long-term Debt - - - $6.43B $6.88B
Deferred Tax Liabilities $579.60M $1.16B $1.27B $1.25B $1.18B
Other Non-current Liabilities $1.35B $1.35B $1.12B $1.69B $1.64B
Total Liabilities $23.71B $20.90B $16.34B $13.49B $12.77B
Common Stock $249.40M $249.40M $249.40M $249.40M $249.40M
Retained Earnings $17.56B $19.55B $17.29B $16.52B $15.68B
Treasury Stock - - $1.97B $1.98B $1.99B
Total Stockholders Equity $15.02B $17.04B $14.31B $13.14B $13.54B
Total Liabilities & Equity $41.06B $39.57B $32.00B $27.19B $26.86B
Breakdown TTM
(Dec 31, 2025)
FY 2025
(Sep 30, 2025)
FY 2024
(Sep 30, 2024)
FY 2023
(Sep 30, 2023)
FY 2022
(Sep 30, 2022)
FY 2021
(Sep 30, 2021)
Net Income $-333.70M $-394.50M $3.83B $2.30B $2.26B $2.10B
Depreciation & Amortization $2.69B $1.56B $1.45B $1.36B $1.34B $1.32B
Stock-based Compensation $141.70M $76.40M $61.80M $59.90M $48.40M $44.50M
Deferred Income Tax $-1.02B $-554.80M $-69.30M $-24.70M $32.30M $94.00M
Change in Receivables $97.10M $36.30M $111.00M $-130.70M $475.20M $130.50M
Change in Inventory $71.20M $35.80M $137.80M $129.40M $94.30M $47.20M
Capital Expenditure $12.28B $7.02B $6.80B $4.63B $2.93B $2.46B
Acquisitions - $59.90M - - $65.10M $10.50M
Purchases of Investments - - - - $1.64B $2.10B
Debt Repayment $1.33B $429.90M $486.20M $615.40M $400.00M $462.90M
Dividends Paid $2.77B $1.58B $1.56B $1.50B $1.38B $1.26B
Net Change in Cash $-3.44B $-1.12B $1.36B $-1.09B $-1.76B $-784.10M
SEC Filing Format - Data shown as it appears in the Q1 2026 (10-Q) filing Period ended: Dec 31, 2025
Condensed Consolidated Statements of Operations
Description Dec 31, 2025
Current Prior Year
Total Revenue $3.10B $2.93B
Cost of Revenue $2.11B $2.02B
Research & Development $20.40M $22.00M
Selling General & Admin $228.70M $242.40M
Operating Income $734.50M $643.60M
Interest Expense $54.50M $42.60M
Other Income/Expense $-1.40M $38.90M
Income Before Tax $850.80M $790.50M
Income Tax Expense $159.40M $140.70M
Net Income $678.20M $617.40M
Basic EPS 3.04 2.77
Diluted EPS 3.04 2.77
Basic Shares Outstanding $222.80M $222.70M
Diluted Shares Outstanding $222.90M $222.90M
Condensed Consolidated Balance Sheets
Description Dec 31, 2025 Sep 30, 2025
Cash & Cash Equivalents $1.03B $1.86B
Accounts Receivable $1.89B $1.90B
Inventory $788.10M $776.50M
Other Current Assets $757.40M $689.50M
Total Current Assets $5.10B $5.83B
Property Plant & Equipment $26.14B $25.34B
Goodwill $971.50M $963.90M
Intangible Assets $294.40M $293.50M
Other Non-current Assets $1.10B $1.02B
Total Assets $41.24B $41.06B
Short-term Debt $66.70M $34.70M
Deferred Revenue $250.20M $253.40M
Total Current Liabilities $3.50B $4.22B
Deferred Tax Liabilities $661.90M $579.60M
Other Non-current Liabilities $1.34B $1.35B
Total Liabilities $23.40B $23.71B
Common Stock $249.40M $249.40M
Retained Earnings $17.84B $17.56B
Total Stockholders Equity $15.41B $15.02B
Total Liabilities & Equity $41.24B $41.06B
Condensed Consolidated Statements of Cash Flows
Description Dec 31, 2025
Current Prior Year
Net Income $678.20M $617.40M
Depreciation & Amortization $370.70M $366.80M
Stock-based Compensation $10.60M $16.40M
Deferred Income Tax $78.20M $-6.30M
Change in Receivables $-6.10M $47.80M
Change in Inventory $11.00M $-6.40M
Operating Cash Flow $900.70M $811.70M
Capital Expenditure $1.25B $2.12B
Investing Cash Flow $-1.24B $-2.18B
Debt Repayment $569.60M $12.10M
Dividends Paid $398.40M $393.60M
Financing Cash Flow $-490.10M $274.20M
Net Change in Cash $-829.60M $-1.13B

All values are in USD (United States Dollars). Data is sourced from SEC EDGAR 10-K filings.

Annual data represents full fiscal year results. FY = Fiscal Year ending.

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