Air Products and Chemicals (APD)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from APD's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Air Products and Chemicals's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10.3B | $12.7B | $12.6B | $12.1B | $12.0B |
| Net income | $2.1B | $2.3B | $2.3B | $3.8B | -$394M |
| Free cash flow | $871M | $244M | -$1.4B | -$3.1B | -$3.8B |
| EPS (diluted) | $9.43 | $10.14 | $10.33 | $17.18 | -$1.77 |
| Operating margin | 22.1% | 18.4% | 19.8% | 36.9% | -7.3% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own APD
From each investor's latest 13F filing (what a 13F shows). 8 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Added | $2.8B | 1.4% | Q2 2026 |
| Andreas Halvorsen Viking Global Investors |
Added | $1.4B | 4.0% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $744M | 0.62% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Added | $26M | 0.20% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $17M | 0.01% | Q2 2026 |
| Mario Gabelli GAMCO Investors |
Added | $1M | 0.01% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $650,566 | 0.00% | Q2 2026 |
| Jean-Marie Eveillard First Eagle Investment Management |
Added | $13,193 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by Air Products and Chemicals's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Air Products and Chemicals insiders buying the stock?
No open-market insider purchases of APD in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own Air Products and Chemicals?
8 of the superinvestors Investingly tracks hold APD in their latest 13F, including Dodge & Cox, Andreas Halvorsen, Hersh Cohen.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.