Also trades as: 0HBH.L (LSE) · $vol 0M

$307.11

+1.39 (+0.45%)

After Hours: $306.31 (-0.80, -0.26%)

Weekly Expected Move ±2.1%

$294 $301 $307 $314 $320

NYSE · Basic Materials · Chemicals - Specialty · Tech Score Strong Buy · Power 70 · $68.1B mcap · 223M float · 0.529% daily turnover · Short 63% of daily vol

Credit Risk of going bust: lower than 78% of companies Debt: 21.1% of company value Bonds: $136.1M held by 170 funds, 40 bp over Treasuries → details ▾

Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $4.71 (down 98%), Air Products and Chemicals, Inc. would be worth roughly what it owes.
Total debt $18.16B against a stock market value of $68.08B.
Distance to default 9.16 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $9.28B (short-term plus half of long-term), stock volatility 26.3%; Altman Z 2.83. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$12.0B -0.5% ▼

5Y CAGR: +6.3%

Gross Profit

$3.8B -3.8% ▼

5Y CAGR: +4.8%

Operating Income

-$877M -119.6% ▼

Net Income

-$394M -110.3% ▼

EPS (Diluted)

$-1.77 -110.3% ▼

EBITDA

$1.3B -79.4% ▼

5Y CAGR: -18.5%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$10.3B	$12.7B	$12.6B	$12.1B	$12.0B
YoY Growth	+16.6%	+23.0%	-0.8%	-4.0%	-0.5%
Cost of Revenue	$7.2B	$9.3B	$8.8B	$8.2B	$8.3B
Gross Profit	$3.1B	$3.4B	$3.8B	$3.9B	$3.8B
Gross Margin	30.4%	26.5%	29.9%	32.5%	31.4%
R&D Expenses	$94M	$103M	$106M	$100M	$96M
SG&A Expenses	$828M	$901M	$957M	$942M	$906M
Operating Expenses	$869M	$1.0B	$1.3B	-$534M	$4.7B
Operating Income	$2.3B	$2.3B	$2.5B	$4.5B	-$877M
Operating Margin	22.1%	18.4%	19.8%	36.9%	-7.3%
Interest Expense	$142M	$128M	$178M	$219M	$214M
Income Before Tax	$2.5B	$2.8B	$2.9B	$4.8B	-$441M
Tax Expense	$463M	$501M	$551M	$945M	-$94M
Net Income	$2.1B	$2.3B	$2.3B	$3.8B	-$394M
Net Margin	20.3%	17.8%	18.3%	31.6%	-3.3%
EPS (Diluted)	$9.12	$10.08	$10.30	$17.18	$-1.77
EBITDA	$4.0B	$4.2B	$4.4B	$6.5B	$1.3B
Shares Outstanding	222M	222M	223M	223M	223M

Line Item	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	FY2026 Q3
Revenue	$3.2B	$2.9B	$2.9B	$3.0B	$3.2B	$3.1B	$3.2B	$3.2B
Cost of Revenue	$2.1B	$2.0B	$2.1B	$2.0B	$2.1B	$2.1B	$2.2B	$2.1B
Gross Profit	$1.1B	$915M	$862M	$983M	$1.0B	$995M	$987M	$1.0B
Gross Margin	34.0%	31.2%	29.6%	32.5%	32.3%	32.1%	31.1%	32.8%
R&D Expenses	$22M	$22M	$23M	$24M	$27M	$20M	$22M	$22M
SG&A Expenses	$228M	$242M	$222M	$223M	$219M	$229M	$227M	$219M
Operating Expenses	-$1.3B	$271M	$3.2B	$192M	$1.0B	$260M	$235M	$3.1B
Operating Income	$2.4B	$644M	-$2.3B	$791M	$17M	$734M	$753M	-$2.1B
Operating Margin	76.1%	22.0%	-79.8%	26.2%	0.5%	23.7%	23.7%	-66.3%
Interest Expense	$50M	$43M	$42M	$61M	$68M	$54M	$50M	$49M
Income Before Tax	$2.5B	$790M	-$2.2B	$891M	$121M	$851M	$884M	-$1.9B
Tax Expense	$538M	$141M	-$506M	$160M	$111M	$159M	$159M	-$515M
Net Income	$1.9B	$617M	-$1.7B	$714M	$5M	$678M	$710M	-$1.4B
Net Margin	61.2%	21.1%	-59.3%	23.6%	0.2%	21.9%	22.4%	-45.6%
EPS (Diluted)	$-8.43	$2.77	$-7.77	$3.20	$0.02	$3.04	$3.19	$-6.46
EBITDA	$2.9B	$1.2B	-$1.8B	$1.4B	$602M	$1.3B	$1.3B	$1.2B
Shares Outstanding	223M	223M	223M	223M	223M	223M	223M	223M

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