Air Products and Chemicals (APD) revenue breakdown
By segment, Americas is the largest at 43% of fiscal 2025 revenue; Europe grew fastest, 10% a year over 5 years.
By product, On-site is the largest at 51% of fiscal 2025 revenue, growing 5% a year over 6 years.
Revenue by segment
Fiscal years, as Air Products and Chemicals reports them in its 10-K filings; fiscal 2025 total $12.0B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Americas | $3.3B | $3.6B | $3.8B | $3.9B | $3.6B | $4.2B | $5.4B | $5.4B | $5.0B | $5.1B | 43% |
| Asia | $1.7B | $2.0B | $2.5B | $2.7B | $2.7B | $2.9B | $3.1B | $3.2B | $3.2B | $3.3B | 27% |
| Europe | — | — | — | — | $1.8B | $2.3B | $3.1B | $3.0B | $2.8B | $3.0B | 25% |
| Corporate and other | $236M | $83M | $84M | $118M | $583M | $790M | $971M | $889M | $878M | $520M | 4% |
| Middle East and India | — | — | — | — | $79M | $99M | $130M | $162M | $134M | $136M | 1% |
| Industrial Gases - EMEA | $1.7B | $1.8B | $2.2B | $2.0B | — | — | — | — | — | — | — |
| Industrial Gases - Global | $499M | $723M | $436M | $261M | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as Air Products and Chemicals reports them in its 10-K filings; fiscal 2025 total $12.0B.
| Products | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|
| On-site | $4.6B | $4.3B | $5.1B | $6.6B | $6.2B | $5.9B | $6.2B | 51% |
| Merchant | $4.0B | $4.0B | $4.5B | $5.1B | $5.5B | $5.3B | $5.3B | 44% |
| Sale of Equipment | $379M | $583M | $790M | $971M | $889M | $878M | $520M | 4% |
Revenue by region
Fiscal years, as Air Products and Chemicals reports them in its 10-K filings; fiscal 2025 total $12.0B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Other foreign operations | — | — | $4.2B | $3.8B | $3.8B | $4.6B | $5.5B | $5.4B | $5.2B | $5.4B | 45% |
| U.S. | $2.9B | $2.9B | $3.1B | $3.4B | $3.4B | $3.9B | $5.2B | $5.2B | $4.9B | $4.7B | 39% |
| CHINA | $1.0B | $1.1B | $1.6B | $1.7B | $1.7B | $1.8B | $2.0B | $2.0B | $2.0B | $1.9B | 16% |
| Europe, including Middle East | $2.2B | $2.5B | — | — | — | — | — | — | — | — | — |
| Asia, excluding China and India | $721M | $850M | — | — | — | — | — | — | — | — | — |
| Other | $664M | $829M | — | — | — | — | — | — | — | — | — |
Questions
Where does Air Products and Chemicals make its money?
In fiscal 2025, by segment: Americas $5.1B, Asia $3.3B, Europe $3.0B, Corporate and other $520M, Middle East and India $136M.
From Air Products and Chemicals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.