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Air Products and Chemicals Inc (APD)



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Upturn Advisory Summary
07/03/2025: APD (2-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $319.67
1 Year Target Price $319.67
10 | Strong Buy |
5 | Buy |
8 | Hold |
1 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -7.41% | Avg. Invested days 34 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 64.95B USD | Price to earnings Ratio 42.05 | 1Y Target Price 319.67 |
Price to earnings Ratio 42.05 | 1Y Target Price 319.67 | ||
Volume (30-day avg) 24 | Beta 0.87 | 52 Weeks Range 242.02 - 336.92 | Updated Date 07/3/2025 |
52 Weeks Range 242.02 - 336.92 | Updated Date 07/3/2025 | ||
Dividends yield (FY) 2.54% | Basic EPS (TTM) 6.94 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 12.76% | Operating Margin (TTM) 21.18% |
Management Effectiveness
Return on Assets (TTM) 4.7% | Return on Equity (TTM) 9.58% |
Valuation
Trailing PE 42.05 | Forward PE 22.22 | Enterprise Value 79497085324 | Price to Sales(TTM) 5.4 |
Enterprise Value 79497085324 | Price to Sales(TTM) 5.4 | ||
Enterprise Value to Revenue 6.61 | Enterprise Value to EBITDA 22.2 | Shares Outstanding 222544000 | Shares Floating 221433718 |
Shares Outstanding 222544000 | Shares Floating 221433718 | ||
Percent Insiders 0.4 | Percent Institutions 93.21 |
Upturn AI SWOT
Air Products and Chemicals Inc

Company Overview
History and Background
Air Products and Chemicals, Inc. was founded in 1940. Initially focused on developing on-site industrial gas generation, it grew through innovation, acquisitions, and expanding its global footprint.
Core Business Areas
- Industrial Gases Americas: Supplies atmospheric and process gases and related equipment to a variety of industries in North and South America.
- Industrial Gases EMEA: Supplies atmospheric and process gases and related equipment to various industries across Europe, the Middle East, and Africa.
- Industrial Gases Asia: Supplies atmospheric and process gases and related equipment to numerous industries in Asia.
- Corporate and Other: This segment includes centralized functional activities that support the business segments, along with smaller business activities.
Leadership and Structure
The company is led by Seifi Ghasemi (Chairman, President, and CEO). It operates with a functional organizational structure, divided by geographical regions and business lines.
Top Products and Market Share
Key Offerings
- Atmospheric Gases (Oxygen, Nitrogen, Argon): These gases are used in a wide range of industries, including healthcare, manufacturing, and steel production. Competitors: Linde, Air Liquide. Air Products has a significant market share, but specific figures vary by region and gas. Market share for atmospheric gases can be estimated at around 20% globally among the top players.
- Process Gases (Hydrogen, Helium, Carbon Monoxide): These gases are critical for refining, chemical processing, and electronics manufacturing. Competitors: Linde, Air Liquide, Messer. Market share is highly dependent on specific application and geography, with significant revenue generated from large-scale, long-term supply contracts. Market share may be estimated at around 15% globally.
- Equipment and Services: Air Products provides gas processing and handling equipment, engineering services, and related support. Competitors: Chart Industries, Cryostar. Revenue is tied to capital project cycles. Market share varies depending on the type of equipment.
Market Dynamics
Industry Overview
The industrial gas industry is a mature but growing market driven by increasing demand from various sectors, including healthcare, manufacturing, and energy. It's characterized by high capital intensity and long-term supply contracts.
Positioning
Air Products is a leading global supplier of industrial gases, known for its engineering expertise, large-scale project capabilities, and long-term customer relationships. It has a strong focus on sustainable solutions.
Total Addressable Market (TAM)
The global industrial gases market is estimated at approximately $100-$120 billion. Air Products holds a significant portion, targeting further growth through expansion in developing markets and innovative technologies.
Upturn SWOT Analysis
Strengths
- Strong market position
- Extensive global network
- Technological expertise
- Long-term customer relationships
- Focus on sustainability
Weaknesses
- High capital expenditure requirements
- Sensitivity to economic cycles
- Exposure to commodity price fluctuations
- Project execution risks
- Dependence on large-scale projects
Opportunities
- Growing demand for industrial gases in emerging markets
- Increasing focus on clean energy and hydrogen technologies
- Expanding applications for industrial gases in healthcare and electronics
- Infrastructure development in developing regions
- Potential for strategic acquisitions
Threats
- Intense competition
- Economic downturns
- Geopolitical instability
- Regulatory changes
- Technological disruptions
Competitors and Market Share
Key Competitors
- LIN
- APD
- PX
- LYB
- SHW
Competitive Landscape
Air Products competes on scale, technology, and customer relationships. Its strengths include its engineering expertise and large project capabilities, while its weaknesses include sensitivity to economic cycles and high capital expenditure requirements.
Major Acquisitions
NXG Netherlands B.V.
- Year: 2021
- Acquisition Price (USD millions):
- Strategic Rationale: Expanded Air Products' European hydrogen capabilities.
Growth Trajectory and Initiatives
Historical Growth: Air Products has demonstrated steady growth driven by organic expansion and strategic acquisitions.
Future Projections: Analyst estimates suggest continued growth driven by demand in emerging markets and investments in clean energy technologies.
Recent Initiatives: Recent initiatives include investments in hydrogen projects, expansions in Asia, and acquisitions of smaller companies.
Summary
Air Products is a strong player in the industrial gas market, benefiting from its scale, technology, and customer relationships. It is investing in growth areas like hydrogen but faces risks related to economic cycles and project execution. Continued focus on innovation and efficiency is crucial for maintaining its competitive edge. The business model with long term, stable revenues is attractive but also poses risks, such as geopolitical events.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company SEC filings, Market research reports, Industry analysis, Financial news sources.
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market conditions and company performance are subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Air Products and Chemicals Inc
Exchange NYSE | Headquaters Allentown, PA, United States | ||
IPO Launch date 1987-01-01 | CEO & Director Mr. Eduardo F. Menezes | ||
Sector Basic Materials | Industry Specialty Chemicals | Full time employees 21850 | Website https://www.airproducts.com |
Full time employees 21850 | Website https://www.airproducts.com |
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. The company 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, manufacturing, electronics, energy production, medical, food, and metals. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. The company was founded in 1940 and is headquartered in Allentown, Pennsylvania.
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