Air Products and Chemicals, Inc. (APD)

APD Income Statement

Financials in millions USD. Fiscal year is October - September.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Revenue	12,208	12,037	12,101	12,600	12,699	10,323
Revenue Growth (YoY)	1.44%	-0.52%	-3.96%	-0.78%	23.01%	16.56%
Cost of Revenue	8,347	8,256	8,169	8,833	9,339	7,186
Gross Profit	3,861	3,781	3,932	3,767	3,360	3,137
Selling, General & Admin	929.5	950.1	1,043	1,043	851	744.6
Research & Development	94.7	96.3	100.2	105.6	102.9	93.5
Other Operating Expenses	3,555	3,548	-58.9	182.8	17.8	-52.8
Operating Expenses	4,580	4,594	1,084	1,331	971.7	785.3
Operating Income	-718.3	-812.6	2,848	2,436	2,388	2,352
Interest Expense	-235.8	-187	-238.2	-177.5	-128	-141.8
Earnings From Equity Investments	669.3	647.7	647.7	604.3	481.5	294.1
Currency Exchange Gain (Loss)	67.2	-49.6	62.1	-	-	-
Other Non Operating Income (Expenses)	-114.4	-12.8	-14.3	48.7	19	-8.3
EBT Excluding Unusual Items	-332	-414.3	3,305	2,911	2,761	2,496
Merger & Restructuring Charges	-145.7	-123.7	-57	-27	-	-23.2
Gain (Loss) on Sale of Investments	-	-	-	-	-	36.8
Gain (Loss) on Sale of Assets	98.6	98.6	1,576	-	-	-
Other Unusual Items	-1.3	-1.3	-2.3	-2	-6.2	-1.8
Pretax Income	-380.4	-440.7	4,821	2,882	2,755	2,507
Income Tax Expense	-75.6	-94.3	944.9	551.2	500.8	462.8
Earnings From Continuing Operations	-304.8	-346.4	3,876	2,331	2,254	2,045
Earnings From Discontinued Operations	-8	-8	-13.9	7.4	12.6	70.3
Net Income to Company	-312.8	-354.4	3,862	2,339	2,267	2,115
Minority Interest in Earnings	-20.9	-40.1	-34.2	-38.4	-10.4	-15.8
Net Income	-333.7	-394.5	3,828	2,300	2,256	2,099
Net Income to Common	-333.7	-394.5	3,828	2,300	2,256	2,099
Net Income Growth	-	-	66.43%	1.96%	7.48%	11.26%
Shares Outstanding (Basic)	223	223	223	222	222	222
Shares Outstanding (Diluted)	223	223	223	223	223	223
Shares Change (YoY)	-0.04%	-0.04%	0.04%	0.09%	-	0.09%
EPS (Basic)	-1.50	-1.77	17.21	10.35	10.16	9.47
EPS (Diluted)	-1.51	-1.78	17.18	10.33	10.14	9.44
EPS Growth	-	-	66.24%	1.94%	7.43%	11.20%
Free Cash Flow	-2,810	-3,766	-3,150	-1,420	303.7	877.7
Free Cash Flow Per Share	-12.62	-16.91	-14.14	-6.38	1.36	3.94
Dividend Per Share	7.160	7.140	7.060	6.870	6.360	5.840
Dividend Growth	1.13%	1.13%	2.77%	8.02%	8.90%	12.74%
Gross Margin	31.63%	31.41%	32.49%	29.90%	26.46%	30.39%
Operating Margin	-5.88%	-6.75%	23.53%	19.33%	18.81%	22.78%
Profit Margin	-2.73%	-3.28%	31.64%	18.26%	17.77%	20.33%
Free Cash Flow Margin	-23.02%	-31.28%	-26.03%	-11.27%	2.39%	8.50%
EBITDA	849.8	751.6	4,299	3,794	3,727	3,673
EBITDA Margin	6.96%	6.24%	35.52%	30.11%	29.35%	35.58%
D&A For EBITDA	1,568	1,564	1,451	1,358	1,338	1,321
EBIT	-718.3	-812.6	2,848	2,436	2,388	2,352
EBIT Margin	-5.88%	-6.75%	23.53%	19.33%	18.81%	22.78%
Effective Tax Rate	-	-	19.60%	19.12%	18.18%	18.46%

Updated Jan 30, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q