Air Products and Chemicals (APD) Stock Overview
Provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 1/6 |
| Future Growth | 1/6 |
| Past Performance | 4/6 |
| Financial Health | 3/6 |
| Dividends | 4/6 |
APD Community Fair Values
Create NarrativeSee what 103 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Materials opportunity
ST
Fair Value from
CA$5.0768.0% undervalued intrinsic discount
An Undervalued 3.3Moz Gold Project in Canada
Key takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.
Read full narrativeAir Products and Chemicals, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$294.99 |
| 52 Week High | US$307.29 |
| 52 Week Low | US$229.11 |
| Beta | 0.78 |
| 1 Month Change | 0.89% |
| 3 Month Change | 4.19% |
| 1 Year Change | 9.40% |
| 3 Year Change | 6.67% |
| 5 Year Change | -1.60% |
| Change since IPO | 27,999.45% |
Recent News & Updates
Narrative Update • May 06
APD: Conflict Driven Chemical Pricing And Easing Helium Pressures Will Shape Outlook
Analysts have raised the fair value estimate for Air Products and Chemicals to $327.86 from $315.43, reflecting updated expectations regarding revenue growth, discount rates, and helium and chemical chain pricing highlighted in recent Street research. Analyst Commentary Recent Street research on Air Products and Chemicals has been active, with several firms revisiting their views on the stock, its pricing power, and its exposure to helium and broader chemical chains linked to Middle East and Iran related supply dynamics.
New Narrative • Apr 27
Air Products and Chemicals (APD): The Hydrogen Pioneer Faces a High-Pressure Test
Air Products and Chemicals, Inc. (APD) , the global vanguard of industrial gas production and the world's leading supplier of hydrogen, enters the final week of April 2026 in a state of high-stakes strategic execution.Narrative Update • Apr 21
APD: Easing Helium Pressures And Conflict Driven Pricing Will Shape Measured Turnaround
The analyst price target for Air Products and Chemicals has been raised by several firms, supporting a move in fair value from $306.62 to $315.43 as analysts point to higher pricing potential in key chemical chains, easing helium supply pressures, and a cluster of near term catalysts highlighted across recent upgrade and target hike reports. Analyst Commentary Recent research on Air Products and Chemicals clusters around higher price targets and upgrades, with analysts focusing on pricing power in key chemical chains, helium supply conditions, and a series of near term catalysts.Recent updates
Narrative Update • May 06
APD: Conflict Driven Chemical Pricing And Easing Helium Pressures Will Shape Outlook
Analysts have raised the fair value estimate for Air Products and Chemicals to $327.86 from $315.43, reflecting updated expectations regarding revenue growth, discount rates, and helium and chemical chain pricing highlighted in recent Street research. Analyst Commentary Recent Street research on Air Products and Chemicals has been active, with several firms revisiting their views on the stock, its pricing power, and its exposure to helium and broader chemical chains linked to Middle East and Iran related supply dynamics.New Narrative • Apr 27
Air Products and Chemicals (APD): The Hydrogen Pioneer Faces a High-Pressure Test
Air Products and Chemicals, Inc. (APD) , the global vanguard of industrial gas production and the world's leading supplier of hydrogen, enters the final week of April 2026 in a state of high-stakes strategic execution.Narrative Update • Apr 21
APD: Easing Helium Pressures And Conflict Driven Pricing Will Shape Measured Turnaround
The analyst price target for Air Products and Chemicals has been raised by several firms, supporting a move in fair value from $306.62 to $315.43 as analysts point to higher pricing potential in key chemical chains, easing helium supply pressures, and a cluster of near term catalysts highlighted across recent upgrade and target hike reports. Analyst Commentary Recent research on Air Products and Chemicals clusters around higher price targets and upgrades, with analysts focusing on pricing power in key chemical chains, helium supply conditions, and a series of near term catalysts.Seeking Alpha • Apr 08
Air Products and Chemicals: Helium Tailwind And CAPEX Discipline Drive Re-Rating Potential
Summary Air Products and Chemicals has outperformed since mid-December 2025, supported by disciplined costs and 2026 guidance above expectations. Supply disruptions (Middle East/Qatar) tighten the market, reversing prior helium weakness and creating upside to EPS vs. the current consensus. Lower investment intensity and cost control are shifting investor focus toward de-risking and cash flow, creating conditions for a potential multiple re-rating. We remain buyers. Read the full article on Seeking AlphaNarrative Update • Apr 01
APD: Easing Helium Pressures And Chemical Pricing Will Support Measured Turnaround
Narrative Update on Air Products and Chemicals The analyst price target for Air Products and Chemicals has been adjusted slightly higher to $306.62, with analysts pointing to a modestly lower discount rate, slightly stronger revenue growth assumptions, and research highlighting easing helium market pressures and potential pricing support across several chemical chains. Analyst Commentary Recent research points to a generally constructive tone around Air Products and Chemicals, with several firms adjusting ratings and price targets while still highlighting execution risks and project mix concerns.Narrative Update • Mar 18
APD: Easing Helium Pressures And Chemical Pricing Will Shape Balanced Turnaround
The analyst price target for Air Products and Chemicals has been raised by about $4 to $306.77, with analysts pointing to easing helium market pressures and stronger pricing across several chemical chains as key supports for their updated assumptions. Analyst Commentary Recent research updates cluster around higher price targets and rating upgrades, with analysts focusing on helium supply, pricing across chemical chains, and execution on the project backlog as key drivers for how they look at Air Products and Chemicals today.Narrative Update • Mar 03
APD: Backlog Execution And Hydrogen Projects Will Shape Balanced Turnaround Outlook
Analysts have lifted their price targets on Air Products and Chemicals by a few dollars, reflecting updated fair value estimates around $302 and a slightly lower discount rate as they factor in company specific project execution, as well as a modestly higher assumed future P/E of about 23.8x. Analyst Commentary Recent Street research on Air Products and Chemicals shows a cluster of higher price targets and at least one rating upgrade, with analysts focusing on how the project backlog, management execution and valuation assumptions fit together.Narrative Update • Feb 17
APD: Backlog Execution And NASA Hydrogen Wins Will Shape Turnaround Path
The analyst price target for Air Products and Chemicals has been raised by about $1 to approximately $302, as analysts incorporate higher published targets from multiple firms and modest adjustments to assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research on Air Products and Chemicals has centered on a series of upward price target revisions and one key rating change, providing a view into how analysts are framing valuation, execution risk, and growth potential.Analysis Article • Feb 11
Air Products and Chemicals (NYSE:APD) Is Increasing Its Dividend To $1.81
The board of Air Products and Chemicals, Inc. ( NYSE:APD ) has announced that it will be paying its dividend of $1.81...Narrative Update • Feb 03
APD: Backlog Execution And Low Emission Projects Will Guide Turnaround Expectations
Analysts have modestly lifted their fair value estimate for Air Products and Chemicals by about $9 to roughly $300 per share, citing updated price targets across several firms and small adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent Street research paints a mixed picture around Air Products and Chemicals, with several firms revising price targets and reassessing execution risks tied to its project backlog and turnaround efforts.Narrative Update • Jan 19
APD: Backlog Execution And Decarbonization Projects Will Shape Turnaround Confidence
Our analyst price target for Air Products and Chemicals has been trimmed by about $2 to $291, reflecting a slightly lower fair value as analysts factor in recent target cuts from BofA, RBC, and JPMorgan, while acknowledging growing confidence in the turnaround plan and backlog execution. Analyst Commentary Recent Street research around Air Products and Chemicals points to a mix of optimism about execution and caution around project risk and valuation, with several firms adjusting their price targets while reiterating a wait and see stance on key projects and the turnaround plan.Narrative Update • Jan 05
APD: Decarbonization Projects And LA Blue Progress Will Support Future Confidence
Analysts have trimmed their blended price targets for Air Products and Chemicals to a range anchored around US$260 to US$325, reflecting updated views on discount rates, modestly adjusted growth and margin assumptions, and a wait for more clarity on key projects such as LA Blue. Analyst Commentary Street research on Air Products and Chemicals has coalesced around a tighter price target range, with recent revisions centered near US$260 to US$325.Narrative Update • Dec 22
APD: Decarbonization Projects Will Drive Future Earnings Confidence Amid Execution Progress
Analysts have nudged their price targets for Air Products and Chemicals lower, trimming fair value by about $16 to reflect slightly higher discount rates, more conservative revenue growth and margin assumptions, and only modest compression in future P E multiples. Analyst Commentary Recent Street research reflects a mixed but generally constructive stance on Air Products and Chemicals, with price targets revised lower but ratings largely maintained as investors wait for greater clarity on execution.Narrative Update • Dec 08
APD: Decarbonization Projects Will Drive Future Earnings Confidence Despite Turnaround Uncertainty
Analysts have reduced their average price target for Air Products and Chemicals by about $2 to roughly $309, reflecting slightly softer assumptions for growth and margins, even as they highlight ongoing earnings potential from the company’s decarbonization initiatives and turnaround efforts. Analyst Commentary Recent research updates reflect a mixed but generally constructive view on Air Products and Chemicals, with valuation expectations coming down modestly while longer term growth drivers, especially in decarbonization, remain a key focus.Narrative Update • Nov 23
APD: Decarbonization Projects Will Drive Renewed Confidence Amid Sector Headwinds
Analysts have modestly reduced their fair value estimate for Air Products and Chemicals from $315 to approximately $310.76 per share. They cite recent price target cuts, evolving expectations for project updates, and sector challenges as reasons for the change.Narrative Update • Nov 07
APD: Decarbonization Earnings Potential Will Drive Near-Term Upside Prospects
Analysts have revised their price target for Air Products and Chemicals downward, from approximately $324 to $315 per share. They cite a combination of slower expected revenue growth and adjustments to market conditions, despite ongoing optimism about the company's decarbonization earnings potential.Analysis Article • Sep 05
Air Products and Chemicals (NYSE:APD) Will Want To Turn Around Its Return Trends
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a...Analysis Article • Jul 15
Earnings Tell The Story For Air Products and Chemicals, Inc. (NYSE:APD)
When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 18x, you may...Analysis Article • May 16
A Look At The Intrinsic Value Of Air Products and Chemicals, Inc. (NYSE:APD)
Key Insights The projected fair value for Air Products and Chemicals is US$240 based on 2 Stage Free Cash Flow to...Seeking Alpha • Mar 21
Air Products and Chemicals: Why I'm Bullish On This Hydrogen Stock
Summary Air Products and Chemicals, Inc.'s recent price pullback offers a growth opportunity, driven by its strategic focus on the expanding hydrogen market and solid financial performance. Upcoming projects like the NEOM green hydrogen facility and Louisiana blue hydrogen project highlight APD's growth potential and commitment to clean energy. Cost-saving initiatives, reasonable debt levels, and a well-covered dividend support APD's positive outlook and justify its current valuation. With an 'A' credit rating and a reasonable forward P/E, APD is attractively valued for long-term investors seeking potential market-beating returns. Read the full article on Seeking AlphaSeeking Alpha • Mar 11
Air Products And Chemicals: New Management Team Is Derisking The Company's Project Pipeline, Buy Confirmed
Summary Exiting several projects and focusing on core gas projects will reduce spending, improve backlog perceptions, and potentially boost APD's stock multiple. The company communicated the new CEO change. Guidance unchanged despite a soft Q2 outlook. Valuation remains at a discount vs peers. Our buy is confirmed. Read the full article on Seeking AlphaSeeking Alpha • Feb 05
Air Products and Chemicals: Q1 Results Unlikely To Resolve Significant Uncertainty
Summary Shares of Air Products and Chemicals have surged 55% in the past year, driven by operational optimization and activist involvement. APD's fiscal Q1 earnings exceeded expectations, but governance changes and activist board seats add uncertainty to its strategic direction. The company's ambitious $20 billion bet on green/blue hydrogen projects raises concerns about demand and funding, especially amid potential changes in government policy. Despite improved core business performance, the lack of clarity on future strategy and government support warrants a "hold" rating, with shares likely trading sideways. Read the full article on Seeking AlphaSeeking Alpha • Dec 28
Air Products And Chemicals: This Dividend Aristocrat Remains Buyable Now
Summary Air Products and Chemicals is likely going to boost its dividend payout in January for the 42nd year straight. The company's adjusted EPS jumped in its fiscal fourth quarter. Air Products and Chemicals is a financially sound enterprise. Shares of the industrial gases juggernaut could be 6% below fair value. Air Products & Chemicals could post nearly 35% cumulative total returns through FY 2027. Read the full article on Seeking AlphaSeeking Alpha • Dec 16
Air Products and Chemicals: Why This Dividend Aristocrat And Hydrogen Leader Is A Buy
Summary Air Products and Chemicals excels in the industrial gases sector, with strong growth prospects in the hydrogen economy, making it a compelling growth pick. APD's robust balance sheet, strategic focus, and recent results highlight operational excellence, margin expansion, and partnerships in green hydrogen. Despite a forward PE of 24.2, APD offers a robust growth and income profile with a 2.3% yield and 41 consecutive years of dividend raises. Read the full article on Seeking AlphaSeeking Alpha • Nov 18
Air Products And Chemicals: 2 Strategies For A Dividend Champion (Technical Analysis)
Summary Air Products and Chemicals is a high-quality industrial gases company with a strong balance sheet, consistent dividend growth, and a sustainability-driven growth strategy. Valuation analysis suggests APD is rarely cheap, with a current PEG ratio around 2.4x, making it a favorable long-term investment despite a high P/E ratio. For swing traders, an entry below 20x earnings is ideal, while long-term investors can consider up to 25x earnings. Risk analysis highlights economic downturns and valuation risks, but APD's strong fundamentals and lack of share repurchases provide stability and potential for capital return. Read the full article on Seeking AlphaSeeking Alpha • Nov 08
Air Products and Chemicals: Mixed Results Offset By Lower Capital Spending (Rating Downgrade)
Summary Shares of Air Products and Chemicals have shown mixed performance, with recent improvements driven by better results and activist pressure, but now appear fairly valued. APD's Q4 results showed a 13% EPS increase despite flat revenue, driven by margin expansion and operational efficiencies, with regional performance varying meaningfully. Management's guidance for fiscal 2025 is cautious, with a focus on reducing capital expenditures and addressing investor concerns, including succession planning and hydrogen project risks. I am downgrading APD to a "hold" as shares are near fair value, with a 5% total return outlook, but I remain comfortable with long-term growth prospects. Read the full article on Seeking AlphaSeeking Alpha • Oct 31
Air Products: A Low-Risk Bet On Clean Hydrogen Future
Summary Air Products is a low-risk, cash-generating business that will benefit from soaring demand for clean hydrogen. Hydrogen is increasingly being adopted in industrial processes, the energy industry and transportation due to the decarbonisation drive. Air Products has a stable, long-term contracted core business but has been increasingly assuming development risk with its hydrogen projects. Read the full article on Seeking AlphaShareholder Returns
| APD | US Chemicals | US Market | |
|---|---|---|---|
| 7D | -1.7% | -1.4% | 2.1% |
| 1Y | 9.4% | 10.5% | 30.6% |
Return vs Industry: APD underperformed the US Chemicals industry which returned 14.6% over the past year.
Return vs Market: APD underperformed the US Market which returned 31% over the past year.
Price Volatility
| APD volatility | |
|---|---|
| APD Average Weekly Movement | 2.9% |
| Chemicals Industry Average Movement | 7.2% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: APD has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: APD's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1940 | 21,194 | Eduardo Menezes | 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, metals, manufacturing, electronics, energy production, medical, food, chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. 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.
Air Products and Chemicals, Inc. Fundamentals Summary
| APD fundamental statistics | |
|---|---|
| Market cap | US$66.85b |
| Earnings (TTM) | US$2.12b |
| Revenue (TTM) | US$12.46b |
31.1x
P/E Ratio5.3x
P/S RatioIs APD overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| APD income statement (TTM) | |
|---|---|
| Revenue | US$12.46b |
| Cost of Revenue | US$8.48b |
| Gross Profit | US$3.99b |
| Other Expenses | US$1.87b |
| Earnings | US$2.12b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 9.50 |
| Gross Margin | 31.98% |
| Net Profit Margin | 16.97% |
| Debt/Equity Ratio | 98.3% |
How did APD perform over the long term?
See historical performance and comparisonDividends
2.5%
Current Dividend Yield76%
Payout RatioDoes APD pay a reliable dividends?
See APD dividend history and benchmarks| Air Products and Chemicals dividend dates | |
|---|---|
| Ex Dividend Date | Apr 01 2026 |
| Dividend Pay Date | May 11 2026 |
| Days until Ex dividend | 40 days |
| Days until Dividend pay date | 0 days |
Does APD pay a reliable dividends?
See APD dividend history and benchmarksCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 12:37 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/09/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Air Products and Chemicals, Inc. is covered by 40 analysts. 20 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| William Selesky | Argus Research Company |
| David Manthey | Baird |
| Sergey Vasnetsov | Barclays |