Air Products & Chemicals, Inc.

10-K & 10-Q Filings

Air Products and Chemicals, Inc. is a world-leading industrial gases company founded in 1940. The company has a sustainability-driven two-pillar growth strategy consisting of expanding and efficiently operating its core industrial gases business and executing projects that provide world-scale clean hydrogen. Its industrial gases business produces and sells atmospheric and process gases, including hydrogen, oxygen, nitrogen, and argon, to various industries such as refining, chemicals, metals, electronics, and healthcare. The company also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products operates in approximately 50 countries and regions outside the United States. Its website is www.airproducts.com, and its ticker symbol is AP.

12 mos ending Sep 30, 201212 mos ending Sep 30, 201312 mos ending Sep 30, 201412 mos ending Sep 30, 201512 mos ending Sep 30, 201612 mos ending Sep 30, 201712 mos ending Sep 30, 201812 mos ending Sep 30, 201912 mos ending Sep 30, 202012 mos ending Sep 30, 202112 mos ending Sep 30, 202212 mos ending Sep 30, 20236 mos ending Mar 31, 20236 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$9611.70
10180.40
10439.00
9894.90
9524.40
8187.60
8930.20
8918.90
8856.30
10323.00
12698.60
12600.00
6374.80
5927.60
2.49%-7.02%Cost of Revenue (-)
$7051.90
7472.10
7634.60
6944.10
6402.70
5753.40
6189.50
5975.50
5858.10
7186.10
9338.50
8833.00
4555.10
4058.70
2.07%-10.90%Gross Profit (+)
$2559.80
2708.30
2804.40
2950.80
3121.70
2434.20
2740.70
2943.40
2998.20
3136.90
3360.10
3767.00
1819.70
1868.90
3.57%2.70%Selling, General & Administrative (-)
$946.80
1066.30
1059.30
941.70
849.30
715.60
760.80
750.00
775.90
828.40
900.60
957.00
485.60
479.00
0.10%-1.36%Research & Development (-)
$126.40
133.70
141.40
138.80
132.00
57.80
64.50
72.90
83.90
93.50
102.90
105.60
51.60
51.10
-1.62%-0.97%Non-recurring Operating Expenses (-)
$337.20
244.00
5.50
228.90
40.30
161.90
25.50
73.70
244.60
185.60
57.00
-2.88%-69.29%Operating Expenses (-)
$1277.40
1444.00
1476.20
1309.40
1021.60
935.30
825.30
848.40
826.00
921.90
1077.20
1307.20
722.80
587.10
0.21%-18.77%Costs & Expenses (Total) (-)
$8329.30
8916.10
9110.80
8253.50
7424.30
6688.70
7014.80
6852.90
6684.10
8131.20
10415.70
10140.20
5277.90
4645.80
1.80%-11.98%Operating Income/Loss (+)
$1282.40
1324.40
1328.20
1699.10
2106.00
1427.60
1965.60
2144.40
2237.60
2281.40
2338.80
2494.60
1111.80
1304.10
6.24%17.30%Non-operating Income/Expense (+)
$153.80
167.80
151.40
137.90
141.70
109.10
179.90
282.10
295.50
367.80
543.90
565.30
261.40
277.70
12.56%6.24%Interest Expense (-)
$123.70
141.80
125.10
103.50
115.50
120.60
130.50
137.00
109.30
141.80
128.00
177.50
82.10
113.40
3.34%38.12%Earnings before Tax (+)
$1312.50
1350.40
1354.50
1733.50
2132.20
1416.10
2015.00
2289.50
2423.80
2507.40
2754.70
2882.40
1291.10
1468.40
7.41%13.73%Tax Expense (-)
$287.30
307.90
366.00
415.90
586.50
260.90
524.30
480.10
478.40
462.80
500.80
551.20
257.40
265.90
6.10%3.30%Income/Loss (Continuing Operations) (+)
$1025.20
1042.50
988.50
1317.60
1545.70
1155.20
1490.70
1809.40
1945.40
2044.60
2253.90
2331.20
1033.70
1202.50
7.75%16.33%Income/Loss (Discontinued Operations) (+)
$168.10
-10.00
4.60
-884.20
1866.00
42.20
-14.30
70.30
12.60
7.40
-24.72%Profit/Loss (+)
$1193.30
1032.50
993.10
1317.60
661.50
3021.20
1532.90
1809.40
1931.10
2114.90
2266.50
2338.60
1033.70
1202.50
6.31%16.33%Net Income/Loss (NCI) (-)
$26.00
38.30
1.40
39.70
30.40
21.70
20.80
-4.15%Net Income/Loss (+)
$1167.30
994.20
991.70
1277.90
631.10
3000.40
1497.80
1760.00
1886.70
2099.10
2256.10
2300.20
1012.00
1181.70
6.36%16.77%Net Income/Loss (Common) (+)
$1167.30
994.20
991.70
1277.90
631.10
3000.40
1497.80
1760.00
1886.70
2099.10
2256.10
2300.20
1012.00
1181.70
6.36%16.77%EPS (Basic)
$5.53
4.74
4.66
5.95
2.92
13.76
6.83
7.99
8.53
9.47
10.16
10.35
4.55
5.31
5.86%16.70%EPS (Diluted)
$5.44
4.68
4.61
5.88
2.89
13.65
6.78
7.94
8.49
9.43
10.14
10.33
4.54
5.30
6.00%16.74%Weighted Avg Shares (Basic)
211.20
209.70
212.70
214.90
216.40
218.00
219.30
220.30
221.20
221.60
222.00
222.30
222.30
222.50
0.47%0.09%Weighted Avg Shares (Diluted)
214.70
212.30
215.20
217.30
218.30
219.80
220.80
221.60
222.30
222.50
222.50
222.70
222.70
222.80
0.33%0.04%Cash
$454.40
450.40
336.60
206.40
1501.30
3273.60
2791.30
2248.70
5253.00
4468.90
2711.00
1617.00
2242.40
2535.00
12.23%13.05%Short-term Investments
$
404.00
184.70
166.00
1104.90
1331.90
590.70
332.20
271.30
102.80
-62.11%Receivables
$1544.70
1544.30
1486.00
1406.20
1439.90
1174.00
1207.20
1260.20
1274.80
1451.30
1794.40
1700.40
1714.70
1715.80
0.88%0.06%Inventory
$786.60
706.10
706.00
657.80
619.90
335.40
396.10
388.30
404.80
453.90
514.20
651.80
645.60
721.20
-1.69%11.71%Prepaid Expenses (Current)
$81.70
121.10
87.80
67.30
99.60
191.40
129.60
77.40
164.50
119.40
156.80
177.00
224.70
263.30
7.28%17.18%Other Assets (Current)
$548.40
617.20
678.40
573.10
656.60
498.30
5481.70
477.70
482.90
550.90
515.80
722.10
622.90
719.20
2.53%15.46%Assets (Current)
$3415.80
3439.10
3294.80
2910.80
4317.30
5876.70
10190.60
4618.30
8684.90
8376.30
6282.90
5200.50
5721.60
6057.30
3.90%5.87%Securities & Long-term Investments
$1175.70
1195.50
1257.90
1265.70
1288.10
1286.90
1276.20
1432.20
1649.30
3353.80
5435.00
4420.20
5968.50
14.93%35.03%Property, Plant & Equipment (Net)
$8240.60
8974.00
9532.10
9636.90
8852.70
8440.20
9923.70
10337.60
11964.70
13254.60
14160.50
18446.10
15698.40
20000.50
7.60%27.40%Accumulated Depreciation
$
15053.40
15912.70
5.71%Goodwill & Intangibles
$2360.00
2371.10
1853.10
1639.60
1638.20
1089.80
1227.40
1216.60
1327.30
1332.20
1170.50
1196.30
1251.10
1201.60
-5.99%-3.96%Other Assets
$1749.70
1870.40
1841.20
1985.10
1959.00
1773.60
17041.10
1494.10
1759.40
2246.80
2224.90
1724.60
1577.20
1695.00
-0.13%7.47%Assets (Non-current)
$13526.00
14411.00
14484.30
14527.30
13738.00
12590.50
28192.20
14324.50
16483.60
18482.90
20909.70
26802.00
23713.80
29864.40
6.41%25.94%Assets (Total)
$16941.80
17850.10
17779.10
17438.10
18055.30
18467.20
38382.80
18942.80
25168.50
26859.20
27192.60
32002.50
29435.40
35921.70
5.95%22.04%Accounts Payable
$1976.20
2007.90
1669.00
1718.20
1957.20
1912.90
1877.40
1722.30
1939.00
2312.20
2906.80
3021.30
2617.50
2939.20
3.93%12.29%Debt (Current)
$707.70
1217.30
1294.00
1929.90
1307.10
560.40
460.90
98.60
477.70
486.90
559.00
874.50
180.40
1121.80
1.94%521.84%Other Liabilities (Current)
$6.00
2.40
19.00
15.70
2364.50
Liabilities (Current)
$2689.90
3227.60
2963.00
3648.10
3283.30
2489.00
4702.80
1820.90
2416.70
2799.10
3465.80
3895.80
2797.90
4061.00
3.42%45.14%Debt (Non-current)
$4584.20
5056.30
4824.50
3949.10
4918.10
3402.40
2907.30
7132.90
6875.70
6433.80
9431.30
8271.90
12499.90
6.78%51.11%Other Liabilities
$3044.40
2367.30
2470.20
2459.80
2640.50
2390.30
22503.70
2826.30
3175.80
3096.40
3590.60
3015.10
3675.40
3025.90
-0.09%-17.67%Liabilities (Non-current)
$7628.60
7423.60
7294.70
6408.90
7558.60
5792.70
22503.70
5733.60
10308.70
9972.10
10024.40
12446.40
11947.30
15525.80
4.55%29.95%Liabilities (Total)
$10318.50
10651.20
10257.70
10057.00
10841.90
8281.70
27206.50
7554.50
12725.40
12771.20
13490.20
16342.20
14745.20
19586.80
4.27%32.84%Treasury Stock
$2468.40
2632.30
2476.90
2359.60
2227.00
2163.50
2089.20
2029.50
2000.00
1987.90
1981.00
1967.30
1972.50
1965.80
-2.04%-0.34%Retained Earnings
$9234.50
9646.40
9993.20
10580.40
10475.50
12846.60
13409.90
14138.40
14875.70
15678.30
16520.30
17289.70
16781.30
17690.00
5.87%5.41%AOCI
$-1348.80
-1020.60
-1241.90
-2125.90
-2388.30
-1847.40
-1741.90
-2375.60
-2140.10
-1515.90
-2786.10
-2449.40
-2163.30
-2275.90
-5.21%Shareholder's Equity
$6623.30
7198.90
7521.40
7381.10
7213.40
10185.50
11176.30
11388.30
12443.10
14088.00
13702.40
15660.30
14690.20
16334.90
8.14%11.20%Liabilities & Equity
$16941.80
17850.10
17779.10
17438.10
18055.30
18467.20
38382.80
18942.80
25168.50
26859.20
27192.60
32002.50
29435.40
35921.70
5.95%22.04%Net Income/Loss
$1167.30
994.20
991.70
1277.90
631.10
3000.40
1497.80
1760.00
1886.70
2099.10
2256.10
4638.80
2045.70
2384.20
13.36%16.55%Depreciation & Amortization
$840.80
907.00
956.90
936.40
925.90
865.80
970.70
1082.80
1185.00
1321.30
1338.20
1358.30
661.10
710.00
4.46%7.40%Increase/Decrease in Working Capital
$182.40
359.20
226.50
-209.30
-65.40
-140.20
168.00
-69.30
-51.50
-115.50
21.80
345.20
549.80
445.90
5.97%-18.90%Share-based Compensation
$43.80
43.50
44.00
45.70
37.60
39.90
38.80
41.20
53.50
44.50
48.40
59.90
31.20
28.50
2.89%-8.65%Adjustments to Reconcile Net Income
$597.80
548.90
1199.30
1159.90
2076.30
-466.30
1056.90
1209.90
1363.70
1236.10
927.10
912.90
346.00
246.60
3.92%-28.73%Net Cash (Operating)
$1765.10
1553.10
2186.40
2437.80
2707.40
2534.10
2554.70
2969.90
3264.70
3335.20
3170.60
3205.70
1358.00
1428.30
5.57%5.18%Capital Expenditure
$2618.20
1749.10
1684.70
1932.00
1055.80
1047.90
1913.80
2128.60
2716.70
2550.70
4650.00
5538.40
2753.10
3114.90
7.05%13.14%Net Cash (Investing)
$-2435.20
-1697.00
-1638.00
-1599.70
-972.00
-1417.70
-1649.10
-2113.40
-3560.00
-2732.90
-3857.20
-5916.40
-2476.00
-3226.00
-30.29%Increase/Decrease in Debt
$419.60
927.40
1.10
-85.90
331.20
-1280.10
-496.70
-424.70
4434.30
-283.00
384.10
3169.00
1279.30
3452.40
20.18%169.87%Increase/Decrease in Equity
$-53.10
-461.60
-11.70
68.40
76.20
68.10
34.10
10.60
19.30
24.00
17.10
5.70
-66.67%Dividends Paid
$514.90
565.60
627.70
677.50
721.20
787.90
897.80
994.00
1103.60
1256.70
1383.30
1496.60
719.20
777.90
10.19%8.16%Net Cash (Financing)
$-78.40
115.40
-504.30
-945.40
-271.10
-2040.90
-1359.80
-1370.50
3284.70
-1420.90
-1000.60
1609.60
603.40
2712.50
349.54%Effect of Exchange Rate
$-18.60
11.40
-11.30
-22.90
7.50
13.40
-33.90
-28.60
14.90
27.80
-130.30
6.50
46.00
3.20
-93.04%Increase/Decrease in Cash
$31.90
-4.00
-113.80
-130.20
1294.90
1942.80
-482.30
-542.60
3004.30
-784.10
-1757.90
-1094.00
-468.60
918.00
295.90%Cash (Beginning)
$422.50
454.40
450.40
336.60
206.40
1330.80
3273.60
2791.30
2248.70
5253.00
4468.90
2711.00
2711.00
1617.00
18.41%-40.35%Cash (Ending)
$454.40
450.40
336.60
206.40
1501.30
3273.60
2791.30
2248.70
5253.00
4468.90
2711.00
1617.00
2242.40
2535.00
12.23%13.05%NOPAT
$1001.69
1022.43
969.31
1291.45
1526.71
1690.62
1454.15
1694.73
1795.95
1860.31
1913.61
2017.56
890.15
1067.95
6.57%19.97%Gross Margin %
26.63%
26.60%
26.86%
29.82%
32.78%
29.73%
30.69%
33.00%
33.85%
30.39%
26.46%
29.90%
28.55%
31.53%
Operating Margin %
13.34%
13.01%
12.72%
17.17%
22.11%
17.44%
22.01%
24.04%
25.27%
22.10%
18.42%
19.80%
17.44%
22.00%
NOPAT Margin %
10.42%
10.04%
9.29%
13.05%
16.03%
20.65%
16.28%
19.00%
20.28%
18.02%
15.07%
16.01%
13.96%
18.02%
Net Margin %
12.14%
9.77%
9.50%
12.91%
6.63%
36.65%
16.77%
19.73%
21.30%
20.33%
17.77%
18.26%
15.88%
19.94%
Tax Rate %
21.89%
22.80%
27.02%
23.99%
27.51%
-18.42%
26.02%
20.97%
19.74%
18.46%
18.18%
19.12%
19.94%
18.11%
ROA
5.91%
5.73%
5.45%
7.41%
8.46%
9.15%
3.79%
8.95%
7.14%
6.93%
7.04%
6.30%
3.02%
2.97%
ROE
15.12%
14.20%
12.89%
17.50%
21.16%
16.60%
13.01%
14.88%
14.43%
13.20%
13.97%
12.88%
6.06%
6.54%
ROIC
8.72%
8.41%
7.86%
10.86%
13.12%
16.69%
13.57%
13.61%
12.75%
12.13%
11.84%
9.89%
5.07%
4.95%
Asset Turnover
0.57
0.57
0.59
0.57
0.53
0.44
0.23
0.47
0.35
0.38
0.47
0.39
0.22
0.17
Inventory Turnover
8.97
10.58
10.81
10.56
10.33
17.15
15.63
15.39
14.47
15.83
18.16
13.55
7.06
5.63
Equity Multiplier
2.56
2.48
2.36
2.36
2.50
1.81
3.43
1.66
2.02
1.91
1.98
2.04
2.00
2.20
Current Ratio
1.27
1.07
1.11
0.80
1.31
2.36
2.17
2.54
3.59
2.99
1.81
1.33
2.04
1.49
Quick Ratio
0.74
0.62
0.62
0.44
0.90
1.95
0.89
2.02
3.16
2.59
1.47
0.94
1.51
1.07
Debt/Equity Ratio
0.80
0.87
0.81
0.80
0.86
0.39
0.04
0.26
0.61
0.52
0.51
0.66
0.58
0.83
Working Capital/Sales
0.09
0.08
0.09
0.06
0.12
0.07
-0.05
0.10
0.09
0.07
0.07
0.06
0.09
0.06
R&D/Sales
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Dividend Payout Ratio %
51.40%
55.32%
64.76%
52.46%
47.24%
46.60%
61.74%
58.65%
61.45%
67.55%
72.29%
74.18%
80.80%
72.84%
Total Payout
$148.40
99.80
626.60
763.40
401.70
1999.60
1318.30
1350.60
-3364.80
1529.10
979.90
-1696.40
-577.20
-2680.20
-364.35%Payout Ratio %
14.81%
9.76%
64.64%
59.11%
26.31%
118.28%
90.66%
79.69%
-187.35%
82.20%
51.21%
-84.08%
-64.84%
-250.97%