Stock

Air Products and Chemicals

APD

Chemicals - Specialty · Basic Materials

Also trades as: 0HBH.L GBP 2.80 (-0.76%)

Price

$278.12

-2.88 (-1.02%)

Market Cap

$61.93B

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Oct 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Weak

4/30

Growth

Mixed

5/20

Cash Flow

Weak

0/10

Stability

Weak

2/10

Valuation

Data not available

0/10

Ownership

Weak

1/15

Dividends

Mixed

2/5

14 of 100 counted points = Winston Score 14.

Track this stock — start free trial

§Winston Score History

The full picture

Air Products and Chemicals makes industrial gases — things like oxygen, nitrogen, hydrogen, and helium. These gases are sold to factories, hospitals, steel mills, semiconductor chip makers, and energy companies. It is one of the largest industrial gas companies in the world, competing mainly with Linde and Air Liquide.

The company makes most of its money through long-term contracts, often building a gas plant right next to a customer's facility and supplying them for 15 to 20 years. It operates in over 50 countries and generates roughly $12 billion in annual revenue. Air Products is making a large bet on clean hydrogen as a future growth driver, investing billions in projects across the Middle East and elsewhere — but those projects are expensive, slow to build, and carry real execution risk if demand for clean hydrogen develops more slowly than expected.

Politician Trades

23 trades / 12mo

13 Congressional buys and 10 sells on APD in the last 12 months.

Unlock the full Smart Money Map — every trade plotted on the price chart with politicians, amounts and returns since each trade. Founder's Deal is $57/mo locked for life.

Unlock politician trades

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-301.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$96M/ year

→ Flat (-4% vs prior year)

0.8% of revenue

Below sector average (3%)

Steady R&D investment year-over-year

Insider Activity

0.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$6.6B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Air Products and Chemicals is growing revenue at 5% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.2% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 222.5M (2021) → 222.9M (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

32.8%

Modest — 32.8% gross margin

Profit after running costs

Operating Margin

-66.3%

Losing money on operations — -66.3%

Return on the money invested

ROCE

-1.9%

Weak — -1.9% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+4.5%

Slow sales growth (+4.5% YoY)

Profit growth

EPS YoY

-103.0%

Earnings shrinking (-103.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-3.5%

Burning cash (-3.5%)

Free cash flow is negative. They are burning cash, not generating it.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

1.27

Elevated debt (1.27)

Covers its interest

Interest Cover

N/A

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

N/A

Data not available

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

2.55%

Moderate income — 2.55% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+1.1%

Dividend flat

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial