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Air Products and Chemicals Inc
🇺🇸 APD · NYSE/NASDAQ · US0091581068
Materials
Price at analysis: USD 306.78 Current price: USD 308.77 * updated every night
Scores
Key Metrics
Powered by EODHDP/E (TTM)
N/A
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Why N/A?
EPS data not available.
Net Debt/EBITDA (TTM)
13.2x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
ROE
0.0%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
50.4x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
2.58%
TTM: 2.35%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Forward Yield (estimated): 2.58%
Trailing Yield (TTM, last 12 months): 2.35%
Payout Ratio (Fwd)
54.5% TTM
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Quarterly | — | 01 Jul 2027 | — | USD | 1.81 |
| Forecast* | Quarterly | — | 01 Apr 2027 | — | USD | 1.81 |
| Forecast* | Quarterly | — | 02 Jan 2027 | — | USD | 1.79 |
| Declared | Quarterly | 22 Jul 2026 | 01 Oct 2026 | 09 Nov 2026 | USD | 1.81 |
| Paid | Quarterly | 23 Apr 2026 | 01 Jul 2026 | 10 Aug 2026 | USD | 1.81 |
| Paid | Quarterly | 27 Jan 2026 | 01 Apr 2026 | 11 May 2026 | USD | 1.81 |
| Paid | Quarterly | 19 Nov 2025 | 02 Jan 2026 | 09 Feb 2026 | USD | 1.79 |
| Paid | Quarterly | 18 Jul 2025 | 01 Oct 2025 | 10 Nov 2025 | USD | 1.79 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
² Type not provided by EODHD — inferred from historical payment data.
Summary
Air Products operates a historically stable industrial gas oligopoly, but its multi-billion dollar transition to clean hydrogen introduces severe execution risks and balance sheet deterioration. With Net Debt/EBITDA at 13.24x and an expensive Forward P/E of 21.19x, it is not recommended for new positions. The recent accounting losses are temporary, but the regulatory and capital-allocation risks remain elevated.
Sector Context
Air Products operates in the Materials sector as a major industrial gas supplier. While traditionally a highly stable oligopoly suited for DGI, the industry is currently undergoing a massively capital-intensive and risky transition away from carbon-heavy Steam Methane Reforming.
Temporary Opportunity Identified
The negative TTM EPS is directly tied to a massive, one-time $2.9 billion pre-tax charge related to the cancellation of U.S. clean energy projects following strict IRS rules. While the accounting loss is temporary, the structural blockade to its transition is permanent.
📊 Strategy Analysis
- • Operates in a highly entrenched industrial gas oligopoly protected by 15-to-30-year on-site tonnage contracts.
- • Strong underlying earnings growth historically, with a 25.3% earnings CAGR over 8 years (excluding loss years).
- • Committed to dividend growth, evidenced by a massive +34.5% dividend raise in 2025.
⚠ What to Watch
- • Severe expansion of leverage, with Net Debt/EBITDA reaching an extreme 13.24x to fund its aggressive hydrogen transition.
- • Major strategic and regulatory execution risk, resulting in a 2025 net loss of $394M driven by $2.9 billion in pre-tax charges for canceled clean energy projects.
- • Expensive valuation with a Forward P/E of 21.19x, offering little margin of safety given the structural blockades on green hydrogen subsidies.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-08-29
Disclaimer: This information is for educational purposes only. Not financial advice.