Air Products and Chemicals, Inc. (APD) Stock Analysis — Fair Value, Risk & Moat Rating
NYQ · Basic Materials · Specialty Chemicals
Is Air Products and Chemicals, Inc. a safe investment right now?
Air Products and Chemicals, Inc.'s Altman Z-Score of 2.59 places it in the gray zone. Fair value estimate is not available for this stock. Moat rating: 3.7/5 stars.
Could Air Products and Chemicals, Inc. go bankrupt? Altman Z-Score analysis
Z-Score of 2.59 places the company in the gray zone (1.8-3.0), warranting closer scrutiny.
- Below 1.8 — Distress Zone (high bankruptcy risk)
- 1.8 to 3.0 — Gray Zone (elevated uncertainty)
- Above 3.0 — Safe Zone (financially healthy)
What drives APD's Z-Score?
| Component | Formula | Value | Weight | Contribution |
|---|---|---|---|---|
| A · Working Capital / Total Assets | WC / TA | 0.0391 | 1.2 | 0.05 |
| B · Retained Earnings / Total Assets | RE / TA | 0.4276 | 1.4 | 0.6 |
| C · EBIT / Total Assets | EBIT / TA | -0.0055 | 3.3 | -0.02 |
| D · Market Cap / Total Liabilities | MCap / TL | 2.7869 | 0.6 | 1.67 |
| E · Revenue / Total Assets | Rev / TA | 0.2932 | 1.0 | 0.29 |
How has APD's financial health changed over time?
| Year | Z-Score | Zone |
|---|---|---|
| 2022 | 4.73 | Safe |
| 2023 | 3.94 | Safe |
| 2024 | 3.38 | Safe |
| 2025 | 2.59 | Gray |
Source: Calculated from APD's latest 10-K filing on SEC EDGAR.
What is Air Products and Chemicals, Inc. actually worth?
Source: Earnings data from SEC EDGAR filings. Market data via Yahoo Finance.
Does Air Products and Chemicals, Inc. have a durable competitive advantage?
Moat rating: 3.7/5.
What makes up APD's moat score?
ROIC Stability
ROIC variability over the past decade. Score: 4/5.
Gross Margin Trend
Gross margin trajectory over the past decade. Score: 4/5.
Switching Costs
Estimated customer lock-in based on margin level. Score: 3/5.
How stable is APD's return on invested capital?
| Year | ROIC | Trend |
|---|---|---|
| 2022 | 13.9% | — |
| 2023 | 12.4% | Declining |
| 2024 | 16.1% | Rising |
| 2025 | -0.7% | Declining |
Source: ROIC calculated from SEC EDGAR filings.
Is Air Products and Chemicals, Inc.'s dividend safe?
Can Air Products and Chemicals, Inc. afford its dividend?
Payout ratio is 101.0%. FCF covers the dividend 0.2x. 44 consecutive years of payments.
Air Products and Chemicals, Inc.'s key financial metrics
| Metric | Latest | 1Y Ago | 3Y Ago | Trend |
|---|---|---|---|---|
| Revenue | $12.0B | $12.1B | $12.7B | Declining |
| Net Income | −$0.4B | $3.8B | $2.3B | Declining |
| Free Cash Flow | −$3.8B | −$3.1B | $0.3B | Declining |
| Gross Margin | 31.4% | 32.5% | 26.5% | Rising |
Recent events that affect our APD analysis
APD earnings report scheduled
Upcoming report. Consensus EPS estimate: $3.06. Revenue estimate: $3.07B.
APD analyst consensus: 61% bullish (14 of 23 analysts)
4 Strong Buy, 10 Buy, 9 Hold, 0 Sell, 0 Strong Sell. Consensus target: $316.52 (6.7% upside).
APD paid $1.8100/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
APD beat EPS estimates by 3.9%
Reported EPS: $3.16 vs estimate $3.04.
APD filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD paid $1.7900/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed annual report (10-K)
Annual filing with full-year financials. Our Altman Z-Score, Moat, and Fair Value models are derived from this data. View on SEC EDGAR →
APD beat EPS estimates by 0.2%
Reported EPS: $3.39 vs estimate $3.38.
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD paid $1.7900/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD beat EPS estimates by 3.2%
Reported EPS: $3.09 vs estimate $2.99.
APD filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD paid $1.7900/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD missed EPS estimates by 4.9%
Reported EPS: $2.69 vs estimate $2.83.
APD filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD paid $1.7900/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD beat EPS estimates by 0.7%
Reported EPS: $2.86 vs estimate $2.84.
APD filed quarterly report (10-Q)
Quarterly update with interim financials. May signal changes to earnings trajectory and balance sheet health. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD filed 8-K (material event)
8-K filings disclose material events — acquisitions, leadership changes, or guidance revisions that may affect valuation. View on SEC EDGAR →
APD paid $1.7700/share dividend
Dividend Safety Grade: C. Payout ratio: 101.0%.
Common questions about Air Products and Chemicals, Inc.
What is Air Products and Chemicals, Inc. stock price today?
Air Products and Chemicals, Inc. (APD) stock price is $296.76 as of the latest market close, traded on the NYSE exchange.
What does Air Products and Chemicals, Inc. do?
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. It produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, metals, manufacturing, electronics, energy production, medical, food, chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing.
What is Air Products and Chemicals, Inc. market cap?
Air Products and Chemicals, Inc. has a market capitalization of $66.08B, classifying it as a large-cap stock in the Basic Materials sector.
What sector and industry is APD in?
Air Products and Chemicals, Inc. operates in the Basic Materials sector, specifically within the Specialty Chemicals industry. It trades on the NYSE under the ticker symbol APD.
Is APD stock overvalued or undervalued?
We do not have sufficient earnings data to produce a reliable fair value estimate for Air Products and Chemicals, Inc. at this time. Stocks without stable earnings history are difficult to value using traditional models.
What is APD stock forecast and analyst target price?
Based on 21 Wall Street analysts, the consensus price target for Air Products and Chemicals, Inc. is $316.52, implying upside of 6.7% from the current price.
- Analyst High Target: $351.00
- Analyst Low Target: $275.00
Note: Analyst targets are shown for reference and are not used in our valuation model.
Is Air Products and Chemicals, Inc. revenue and earnings growing?
Here are the analyst consensus growth estimates for Air Products and Chemicals, Inc.:
- Revenue growth (current year est.): 4.9%
- EPS growth (current year est.): 8.7%
- Revenue growth (next year est.): 6.1%
- EPS growth (next year est.): 8.0%
What are Air Products and Chemicals, Inc.'s key financial metrics?
| Metric | Latest | Trend |
|---|---|---|
| Revenue | $12.0B | Declining |
| Net Income | −$0.4B | Declining |
| Free Cash Flow | −$3.8B | Declining |
| Gross Margin | 31.4% | Rising |
What is APD's P/E ratio?
The price-to-earnings ratio measures how much investors pay per dollar of earnings:
- Forward P/E (next 12 months est.): 21.0x
How volatile is APD stock?
Air Products and Chemicals, Inc. has a beta of 0.81, meaning it is less volatile than the broader market. A beta above 1.0 indicates higher price swings relative to the S&P 500, while below 1.0 suggests more stability.
How much cash and debt does Air Products and Chemicals, Inc. have?
Air Products and Chemicals, Inc.'s balance sheet shows:
- Total Cash: $1.03B
- Total Debt: $18.19B
- Net Cash Position: $-17.16B
A positive net cash position means the company holds more cash than debt, reducing financial risk.
What is Air Products and Chemicals, Inc.'s free cash flow?
Air Products and Chemicals, Inc. generated $-6.15B in trailing twelve-month free cash flow (from $3.35B in operating cash flow). Free cash flow represents the cash available for dividends, buybacks, and debt reduction after all capital expenditures.
Does Air Products and Chemicals, Inc. pay a dividend, and is it safe?
Yes, Air Products and Chemicals, Inc. pays a regular dividend. Here are the key metrics:
- Dividend Yield: 2.4%
- Payout Ratio: 101.0%
- Consecutive Years Paid: 44
- 5-Year Dividend Growth: -9.7%
- FairValueLabs Safety Grade: C
Is Air Products and Chemicals, Inc. at risk of going bankrupt?
Air Products and Chemicals, Inc.'s Altman Z-Score is 2.59, placing it in the gray zone (1.8–3.0) — some financial uncertainty. The Z-Score uses five balance sheet ratios to predict bankruptcy probability within two years.
Does Air Products and Chemicals, Inc. have a durable competitive advantage?
Air Products and Chemicals, Inc. scores 3.7/5 stars (Solid moat · eroding) in our moat analysis:
- ROIC Stability: 4/5
- Gross Margin Trend: 4/5
- Switching Costs: 3/5
A score above 3.5 suggests meaningful pricing power and a defensible market position.
What is APD's return on equity (ROE)?
Air Products and Chemicals, Inc.'s return on equity is -1.7%. ROE measures how efficiently a company generates profits from shareholder equity. An ROE above 15% is generally considered strong, while below 10% may signal inefficiency.
How do I buy APD stock?
APD shares can be purchased through any brokerage account that provides access to the NYSE. Common steps:
- Open an account with a broker (e.g., Fidelity, Schwab, Interactive Brokers)
- Search for ticker symbol APD
- Place a market or limit order for your desired number of shares
This is not investment advice. Always do your own research before buying any stock.
Is APD a value stock or speculative?
FairValueLabs classifies Air Products and Chemicals, Inc. as Value-Speculation. It has some value characteristics but carries elevated risk factors that make it speculative. Extra due diligence is recommended.
Who is the CEO of Air Products and Chemicals, Inc.?
The current CEO of Air Products and Chemicals, Inc. is Mr. Eduardo F. Menezes.
What is APD's earnings per share (EPS)?
Earnings per share measures the company's profit allocated to each outstanding share:
- Trailing EPS (last 12 months): $-1.48
- Forward EPS (next 12 months est.): $14.12
- Analyst consensus EPS (this year): $13.08
- Analyst consensus EPS (next year): $14.12
Other Basic Materials companies analyzed by FairValueLabs
FairValueLabs Disclaimer
All valuations, scores, ratings, and classifications on this page are produced by the FairValueLabs internal valuation system. They do not represent actual market value, guaranteed outcomes, or professional investment advice. These are analytical estimates for educational and research purposes only.
This is not financial advice. All data is sourced from SEC EDGAR public filings. Always consult a qualified financial advisor before making investment decisions.
Last updated: Apr 22, 2026. Data sources: SEC EDGAR (financial statements), Yahoo Finance (market data, analyst consensus). Data may not reflect the most recent quarter.
APD analysis methodology: How we calculate fair value, Z-Scores, and moat ratings