Feed / APD

Air Products and Chemicals, Inc.

APD

Basic Materials · 291.55 -0.7% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Air Products and Chemicals, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

Company-0.7% todayVolume comparison unavailable
Market group0 of 1 activeIndustrial Gases · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
  • Consolidated volumes were reported up 3%, cited as a driver of the 5% ($138.3) sales increase in the period.
  • Company states benefits were partially offset by higher costs of $40 driven by fixed-cost inflation and higher depreciation.

Invalidation: The isolated read changes if APD's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Basic Materials · Specialty Chemicals

No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 2 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Consolidated volumes were reported up 3%, cited as a driver of the 5% ($138.3) sales increase in the period.
  • Company states benefits were partially offset by higher costs of $40 driven by fixed-cost inflation and higher depreciation.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements454
Verified relationships2
Evidence supporting the case
  • Credit and interest rates has repeated favorable evidence across 5 filings.
Evidence challenging the case
  • Latest annual revenue changed -0.5% year over year.
  • Operating margin changed -44.2 percentage points in the latest annual period.
  • Net margin changed -34.9 percentage points in the latest annual period.
  • Energy and commodity prices has repeated adverse evidence across 5 filings.
  • Input and raw-material costs has repeated adverse evidence across 5 filings.
  • Macroeconomic conditions has repeated adverse evidence across 5 filings.
  • Restructuring and cost reductions has repeated adverse evidence across 4 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 11, 2026

291.55
6m+0.4%12m+1.4%24m+8.5%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-09-30$10.3B+16.6%$9.43+0.1%
2022-09-30$12.7B+23.0%$10.14+0.0%
2023-09-30$12.6B-0.8%$10.33+0.1%
2024-09-30$12.1B-4.0%$17.18+0.0%
2025-09-30$12.0B-0.5%$-1.77-0.0%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
These uses of cash were partially offset by $644.0 of long-term debt proceeds, primarily from incremental borrowings under the project financing arrangement available to NGHC for the NEOM Green Hydrogen Project.
10-Q · Jul 30, 2026
Demand and volumemixed · 5 filings
The higher volumes were driven by non-helium merchant and on-site, including the impact of a prior-year turnaround, partially offset by lower helium.
10-Q · Jul 30, 2026
Energy and commodity pricesnegative · 5 filings
The increase in energy cost pass-through reflected higher natural gas rates across the region, while favorable currency impacts were primarily attributable to the weakening of the U.S.
10-Q · Jul 30, 2026
Input and raw-material costsnegative · 5 filings
These benefits were partially offset by higher costs of $40 driven by fixed-cost inflation and higher depreciation expense.
10-Q · Jul 30, 2026

Valuation discipline

Peer-relative valuation withheld

Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

291.55-0.7% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for APD. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for APD. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind APD

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

BTIBritish American Tobacco p.l.c.partnerJul 31, 2025

Dollar weakened primarily against the British Pound Sterling and the Euro.

BTIBritish American Tobacco p.l.c.competitorApr 30, 2026

Dollar, most notably against the Euro, Chinese Renminbi, and British Pound Sterling.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 7 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

APD is currently a Leader in the organic co-movement group Industrial Gases. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for APD; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.