Air Products and Chemicals stock | 2026 earnings growth & current analysis

Air Products and Che...

NYSE:APD

$ 292,19

$-0,98 (-0,33%)

292,19 $

$-0,98 (-0,33%)

End-of-day quote: 03/27/2026

Air Products and Chemicals Stock Value

Analysts currently rate NYSE:APD as Outperform.

Outperform

Air Products and Chemicals Company Info

EPS Growth 5Y

7,50%

Market Cap

$65,28 B

Long-Term Debt

$16,92 B

Short Interest

2,77%

Quarterly earnings

05/01/2026 (E)

Dividend

$7,22

Dividend Yield

2,47%

Founded

1940

Industry

Materials

Country

United States

ISIN Number

US0091581068

Website

http://www.airproducts.com

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

$311,50

6.61%

Last Update: 03/27/2026

Analysts: 22

Highest Price Target $351,00

Average Price Target $311,50

Lowest Price Target $275,00

In the last five quarters, Air Products and Chemicals’s Price Target has risen from $266,18 to $271,34 - a 1,94% increase. Twenty Four analysts predict that Air Products and Chemicals’s share price will increase in the coming year, reaching $311,50. This would represent an increase of 6,61%.

Top growth stocks in the materials sector (5Y.)

What does Air Products and Chemicals do?

Air Products and Chemicals, Inc. (Air Products) operates as an industrial gases company. With sustainability at its core, the company’s two-pillar growth strategy includes the optimization and growth of the company’s core industrial gases business while developing, engineering, building, owning, and operating some of the world’s largest clean hydrogen projects that will advance the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. The company’s r...

Air Products and Chemicals, Inc. (Air Products) operates as an industrial gases company.

With sustainability at its core, the company’s two-pillar growth strategy includes the optimization and growth of the company’s core industrial gases business while developing, engineering, building, owning, and operating some of the world’s largest clean hydrogen projects that will advance the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. The company’s regional industrial gases business provides essential gases, related equipment, and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical, and food. Through the company’s sale of equipment businesses, the company also provides turbomachinery, membrane systems, and cryogenic containers globally.

The company manages its operations, assess performance, and report earnings under five reportable segments: Americas, Asia, Europe, Middle East and India, and Corporate and Other.

Businesses

Industrial Gases Business

The company’s industrial gases business, which is organized and operated regionally in the Americas, Asia, Europe, and Middle East and India segments, produces and sells atmospheric gases such as oxygen, nitrogen, and argon; process gases such as hydrogen, helium, carbon dioxide (‘CO2’), carbon monoxide, and syngas (a mixture of hydrogen and carbon monoxide); and specialty gases.

Each of the regional industrial gases segments competes against three global industrial gas companies: Air Liquide S.A., Linde plc, and Messer Group GmbH, as well as regional competitors. Competition in industrial gases is based primarily on price, reliability of supply, and the development of industrial gas applications. The company derives a competitive advantage in locations where the company has pipeline networks, which enable the company to provide a reliable and economic supply of products to the company’s larger customers.

Production

Industrial gases are generally produced at or near the point of use given the complexity and inefficiency of storing molecules at low temperatures. The industrial gases business develops, builds, and operates equipment for the production or processing of gases. Atmospheric gases are produced through various air separation processes, of which cryogenic distillation is the most prevalent, while process gases are produced by methods other than air separation. To produce hydrogen, the company purifies byproduct sources obtained from the chemical and petrochemical industries. The company has historically produced hydrogen from hydrocarbons exclusively without carbon capture (known as ‘gray hydrogen’); however, the company is also investing in projects that are intended to create a reliable and consistent world-scale source of low-carbon hydrogen produced from hydrocarbons with carbon capture (known as ‘blue hydrogen’), as well as carbon-free hydrogen produced from renewable energy (known as ‘green hydrogen’).

Helium is produced as a byproduct of gases extracted from underground reservoirs, primarily natural gas as well as CO2 purified before resale. Because helium is generally sourced globally at long distances from point of sale, the company maintains an inventory of helium in its fleet of ISO containers, as well as in underground storage facilities in Amarillo, Texas and Beaumont, Texas.

Supply Modes

The company distributes gases to its industrial gas customers through different supply modes depending on various factors including the customer's volume requirements and location. The company’s supply modes are as follows:

On-Site Gases—Supply mode associated with customers, principally in the energy production and refining, chemical, metals, and electronics industries worldwide, that require large volumes of gases and have relatively constant demand. Gases are produced and supplied by large facilities the company constructs or acquires on or near the customers’ facilities or by pipeline systems from centrally located production facilities. These sale of gas contracts are generally governed by 15- to 20-year contracts. The company also delivers smaller quantities of product through small on-site plants (cryogenic or non-cryogenic generators), typically via a 10- to 15-year sale of gas contract. The company’s on-site supply mode generates approximately half its total company sales.

Merchant Gases—Supply mode for liquid bulk and packaged gas products. Liquid bulk product is delivered in bulk in either liquid or gaseous form by tanker or tube trailer and stored, usually in its liquid state, in equipment that the company typically designs and installs at the customer’s site for vaporizing into a gaseous state as needed. Liquid bulk sales are usually governed by three- to five-year contracts. Packaged gas products are delivered in small quantities in either cylinders or dewars. The company operates packaged gas businesses in Europe, Asia, and Latin America.

The company maintains inventory in locations that facilitate supply of products to customers on a reasonable delivery schedule. Inventory consists primarily of crude helium, specialty gases, and other industrial gases supplied via the merchant gases supply mode.

End Use

The company has hydrogen fueling stations that support commercial markets, as well as demonstration projects across the globe.

The chemicals industry uses hydrogen, oxygen, nitrogen, carbon monoxide, and syngas as feedstocks in the production of many basic chemicals. The energy production industry uses nitrogen injection for enhanced recovery of oil and natural gas and oxygen for gasification. Oxygen is used in combustion and industrial heating applications, including in the steel, certain nonferrous metals, glass, and cement industries. Nitrogen applications are used in food processing for freezing and preserving flavor, and nitrogen is used for inerting in various fields, including the metals, chemical, and semiconductor industries. Helium is used in laboratories and healthcare for cooling and in other industries for pressurizing, purging, and lifting. Argon is used in the metals and other industries for its unique inerting, thermal conductivity, and other properties. Industrial gases are also used in welding and providing healthcare and are utilized in various manufacturing processes to make them more efficient and to optimize performance.

Industrial Gases Equipment

The company designs and manufactures equipment for air separation, hydrocarbon recovery and purification, and liquid helium and liquid hydrogen transport and storage. The Corporate and other segment includes activity related to the sale of cryogenic and gas processing equipment for air separation. The equipment is sold worldwide to customers in a variety of industries, including chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. The Corporate and other segment also includes the results of the company’s Rotoflow business, which manufactures turboexpanders and other precision rotating equipment, and the company’s Gardner Cryogenics business, which fabricates helium and hydrogen transport and storage containers. Additionally, through the end of fiscal year 2024, the company’s Corporate and other segment included the company’s liquefied natural gas (‘LNG’) process technology and equipment business, which was sold to Honeywell International Inc. on 30 September 2024.

Steel, aluminum, and capital equipment subcomponents, such as compressors are the principal raw materials in the manufacturing of equipment. Equipment is produced at the company’s manufacturing sites with certain components procured from subcontractors and vendors.

The company’s sale of equipment supply mode constituted less than 10% of consolidated sales in fiscal year 2024.

Customers

The company does not have a homogeneous customer base or end market. The company does have concentrations of customers in specific industries, primarily refining, chemicals, and electronics. Within each of these industries, the company has several large-volume customers with long-term contracts.

Equity Affiliates

Substantially all the company’s equity method investments are in foreign industrial gas producers, the largest of which operate in Algeria, China, India, Italy, Mexico, Saudi Arabia, South Africa, and Thailand.

International Operations

Through the company’s subsidiaries, affiliates, and joint ventures accounted for using the equity method, the company conducts business in approximately 50 countries and regions outside the United States.

The company has controlling interests in foreign subsidiaries that operate in Canada and approximately 10 countries in Latin America (primarily Chile and Brazil); approximately 10 countries and regions in Asia (primarily China, South Korea, and Taiwan); approximately 25 countries in the Europe and Africa region (primarily the Netherlands, the countries of the United Kingdom, and Spain); and approximately five countries in the Middle East, primarily Saudi Arabia. The company also owns non-controlling interests in entities operating in Africa, Asia, Europe, Latin America, and the Middle East.

Technology Development

The company conducts research and development principally in its laboratories located in the United States (Allentown, Pennsylvania), the United Kingdom (Basingstoke and Carrington), Spain (Barcelona), China (Shanghai), and Saudi Arabia (Dhahran). The company also funds and cooperates in research and development programs conducted by a number of major universities and undertakes research work funded by others, including the United States government.

Development of technology for use within the Industrial Gases business focuses primarily on new and improved processes and equipment for the production and delivery of industrial gases and new or improved applications for industrial gas products.

During the year ended September 30, 2024 (fiscal year 2024), the company owned approximately 600 United States patents, approximately 3,200 foreign patents, and was a licensee under certain patents owned by others.

Research and Development

For the year ended September 30, 2024, the company's research and development expenses were $100.2 million.

Environmental Regulation

In the normal course of business, the company is involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (‘CERCLA,’ the federal Superfund law); Resource Conservation and Recovery Act (‘RCRA’); and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation.

History

Air Products and Chemicals, Inc., a Delaware corporation, was founded in 1940. The company was incorporated in 1961.

Air Products and Chemicals Questions and Answers

Which sectors generate sales and which are the top 3 markets?

**Industry Revenues:** - Industrial Gases: approx. 70% - Energy and Environment: approx. 15% - Chemicals: approx. 10% - Others: approx. 5% **TOP 3 Markets:** - North America: approx. 40% - Asia: approx. 30% - Europe: approx. 20% Air Products and Chemicals, Inc. generates the majority of its revenu...

At which locations are the company’s products manufactured?

**Production Sites:** Worldwide, with a focus on North America, Europe, Asia, and the Middle East. Air Products and Chemicals, Inc. is a globally operating company that produces a variety of industrial gases and chemicals. Their production facilities are strategically distributed across the globe t...

What strategy does Air Products and Chemicals pursue for future growth?

**Revenue Growth:** 10% (estimated for 2025 based on historical data and market trends) **Investments in Hydrogen:** 7 billion USD by 2027 Air Products and Chemicals, Inc. is pursuing a growth strategy that is heavily focused on expanding in the field of hydrogen technology. The company is investi...

Which raw materials are imported and from which countries?

**Main raw materials:** Natural gas, nitrogen, oxygen, hydrogen **Main importing countries:** Canada, Saudi Arabia, Qatar Air Products and Chemicals, Inc. is a leading provider of industrial gases and chemical products. The main raw materials the company requires are natural gas, nitrogen, oxygen...

How strong is the company’s competitive advantage?

**Market share:** 10% (estimated 2025) **EBITDA margin:** 35% (2024) **ROIC (Return on Invested Capital):** 12% (2024) Air Products and Chemicals, Inc. has a significant competitive advantage in the industrial gas industry. The company has an estimated market share of about 10%, making it one o...

What is the share of institutional investors and insider buying/selling?

**Institutional investor share:** approx. 82% (estimated for 2025 based on historical data) **Insider purchases/sales:** No significant insider transactions in the last year (estimated for 2025) The institutional investor share at Air Products and Chemicals, Inc. traditionally stands at over 80%,...

What percentage market share does Air Products and Chemicals have?

**Market share of Air Products and Chemicals, Inc.:** 12% (estimated, 2025) **Main competitors and their market shares:** 1. **Linde plc:** 24% 2. **Air Liquide:** 22% 3. **Air Products and Chemicals, Inc.:** 12% 4. **Praxair (part of Linde plc):** 10% 5. **Messer Group:** 8% 6. **Taiyo Nippon Sans...

Is Air Products and Chemicals stock currently a good investment?

**Revenue Growth:** 8% (estimated for 2024) **Profit Growth:** 10% (estimated for 2024) **Dividend Yield:** 2.5% (2024) **Market Position:** Leading in the industrial gas sector Air Products and Chemicals, Inc. has established itself as a leading company in the industrial gas sector. The company be...

Does Air Products and Chemicals pay a dividend – and how reliable is the payout?

**Dividend Yield:** 2.6% (estimated for 2025) **Dividend Growth:** 8% annually (average over the last 5 years) **Dividend Payment:** Quarterly Air Products and Chemicals, Inc. is known for its reliable dividend policy. The company has been consistently paying dividends in recent years and has...

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Air Products and Chemicals Stock Value

Air Products and Chemicals Company Info

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does Air Products and Chemicals do?

Air Products and Chemicals Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

New support ticket

Explore

Air Products and Chemicals Stock Value

Air Products and Chemicals Company Info

Analyst Price Target The Analyst Price Target shows the analysts’ low, high, and average target at a glance.

Top growth stocks in the materials sector (5Y.)

What does Air Products and Chemicals do?

Air Products and Chemicals Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal

Analyst Price Target
The Analyst Price Target shows the analysts’ low, high, and average target at a glance.