Air Products and Chemicals, Inc. (APD) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Sales/Revenue | 3.17B | 3.1B | 3.17B | 3.02B | 2.92B | 2.93B | 3.19B | 2.99B | 2.93B | 3B | 3.19B | 3.03B | 3.2B | 3.17B | 3.57B | 3.19B | 2.95B | 2.99B | 2.84B | 2.6B |
| Revenue Growth % | 8.76% | 5.83% | -0.65% | 1.25% | -0.48% | -2.19% | -0.12% | -1.6% | -8.43% | -5.59% | -10.61% | -4.87% | 8.66% | 6.03% | 25.66% | 22.44% | 17.71% | 26.06% | 22.46% | 26.12% |
| Cost of Goods Sold | 2.18B | 2.11B | 2.15B | 2.04B | 2.05B | 2.02B | 2.1B | 2.01B | 1.99B | 2.07B | 2.21B | 2.07B | 2.28B | 2.27B | 2.62B | 2.34B | 2.15B | 2.22B | 2.01B | 1.8B |
| COGS % of Revenue | 68.87% | 67.93% | 67.75% | 67.49% | 70.43% | 68.79% | 66.02% | 67.19% | 67.96% | 68.93% | 69.16% | 68.25% | 71.34% | 71.58% | 73.42% | 73.44% | 73.06% | 74.26% | 70.62% | 69.18% |
| Gross Profit | 987.4M | 995M | 1.02B | 982.6M | 862.3M | 915M | 1.08B | 979.4M | 938.7M | 931.2M | 984.1M | 963.2M | 917.3M | 902.4M | 948.8M | 847.2M | 793.5M | 770.6M | 834.8M | 802.8M |
| Gross Margin % | 31.13% | 32.07% | 32.25% | 32.51% | 29.57% | 31.21% | 33.98% | 32.81% | 32.04% | 31.07% | 30.84% | 31.75% | 28.66% | 28.42% | 26.58% | 26.56% | 26.94% | 25.74% | 29.38% | 30.82% |
| Gross Profit Growth % | 14.51% | 8.74% | -5.7% | 0.33% | -8.14% | -1.74% | 10.06% | 1.68% | 2.33% | 3.19% | 3.72% | 13.69% | 15.6% | 17.1% | 13.66% | 5.53% | 4.89% | 3.74% | 10.77% | 11.45% |
| Operating Expenses | 234.7M | 260.5M | 1B | 192M | 3.19B | 271.4M | -1.34B | 242.3M | 301.5M | 263.3M | 245.5M | 319M | 457.5M | 250.4M | 322.3M | 219.8M | 231.6M | 247.6M | 218.1M | 225.7M |
| OpEx % of Revenue | 7.4% | 8.4% | 31.72% | 6.35% | 109.4% | 9.26% | -42.08% | 8.12% | 10.29% | 8.79% | 7.69% | 10.51% | 14.3% | 7.89% | 9.03% | 6.89% | 7.86% | 8.27% | 7.68% | 8.67% |
| Selling, General & Admin | 227.2M | 228.7M | 219.1M | 222.6M | 222M | 242.4M | 228M | 235.4M | 240.6M | 238.4M | 232.7M | 238.7M | 251.2M | 234.4M | 223.9M | 216.9M | 227M | 232.8M | 202.1M | 213.3M |
| SG&A % of Revenue | 7.16% | 7.37% | 6.92% | 7.36% | 7.61% | 8.27% | 7.15% | 7.89% | 8.21% | 7.95% | 7.29% | 7.87% | 7.85% | 7.38% | 6.27% | 6.8% | 7.71% | 7.78% | 7.11% | 8.19% |
| Research & Development | 21.6M | 20.4M | 27.3M | 24.1M | 22.9M | 22M | 22.1M | 27M | 25.4M | 25.7M | 24.7M | 29.3M | 27.2M | 24.4M | 31.1M | 24.8M | 23.7M | 23.3M | 25.7M | 23.2M |
| R&D % of Revenue | 0.68% | 0.66% | 0.86% | 0.8% | 0.79% | 0.75% | 0.69% | 0.9% | 0.87% | 0.86% | 0.77% | 0.97% | 0.85% | 0.77% | 0.87% | 0.78% | 0.8% | 0.78% | 0.9% | 0.89% |
| Other Operating Expenses | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | -800K | -1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Operating Income | 752.7M | 734.5M | 16.8M | 790.6M | -2.33B | 643.6M | 2.42B | 737.6M | 637.2M | 667.1M | 738.6M | 644.2M | 459.8M | 652M | 626.5M | 627.4M | 561.9M | 523M | 616.7M | 577.1M |
| Operating Margin % | 23.73% | 23.67% | 0.53% | 26.16% | -79.83% | 21.95% | 76.06% | 24.71% | 21.75% | 22.26% | 23.14% | 21.23% | 14.37% | 20.54% | 17.55% | 19.67% | 19.08% | 17.47% | 21.71% | 22.16% |
| Operating Income Growth % | 132.33% | 14.12% | -99.31% | 7.19% | -465.35% | -3.52% | 228.24% | 14.5% | 38.58% | 2.32% | 17.89% | 2.68% | -18.17% | 24.67% | 1.59% | 8.72% | 2.44% | -2.99% | 10.09% | 7.03% |
| EBITDA | 1.13B | 1.11B | 429.6M | 1.19B | -1.94B | 1.01B | 2.81B | 1.1B | 998M | 1.02B | 1.1B | 984.1M | 799.4M | 973.5M | 959.3M | 964.6M | 897.8M | 855.3M | 949.3M | 912.8M |
| EBITDA Margin % | 35.55% | 35.62% | 13.57% | 39.42% | -66.68% | 34.47% | 88.01% | 36.78% | 34.06% | 33.91% | 34.34% | 32.44% | 24.98% | 30.66% | 26.87% | 30.24% | 30.48% | 28.57% | 33.41% | 35.04% |
| EBITDA Growth % | 158% | 9.38% | -84.69% | 8.53% | -294.83% | -0.58% | 155.97% | 11.56% | 24.84% | 4.4% | 14.24% | 2.02% | -10.96% | 13.82% | 1.05% | 5.67% | 2.28% | -0.87% | 9.03% | 10% |
| D&A (Non-Cash Add-back) | 375M | 370.7M | 412.8M | 401M | 383.6M | 366.8M | 380.8M | 360.3M | 360.8M | 349.2M | 357.3M | 339.9M | 339.6M | 321.5M | 332.8M | 337.2M | 335.9M | 332.3M | 332.6M | 335.7M |
| EBIT | 752.7M | 905.3M | 189.1M | 952.2M | -2.2B | 833.1M | 2.55B | 905.2M | 771.3M | 810.5M | 889.2M | 797.5M | 611.8M | 761.4M | 743.5M | 754M | 691.8M | 693.4M | 725.7M | 661.4M |
| Net Interest Income | -49.5M | -54.5M | -67.8M | -61.4M | -42.2M | -42.6M | -49.7M | -55.7M | -59.9M | -53.5M | -48M | -47.4M | -40.9M | -41.2M | -32.5M | -32.7M | -32.3M | -30.5M | -33.4M | -35.6M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 49.5M | 54.5M | 67.8M | 61.4M | 42.2M | 42.6M | 49.7M | 55.7M | 59.9M | 53.5M | 48M | 47.4M | 40.9M | 41.2M | 32.5M | 32.7M | 32.3M | 30.5M | 33.4M | 35.6M |
| Other Income/Expense | 130.8M | 116.3M | 104.5M | 100.2M | 84.7M | 146.9M | 78.9M | 111.9M | 74.2M | 90.1M | 102.6M | 105.9M | 111.1M | 68.2M | 84.5M | 93.9M | 97.6M | 139.9M | 75.6M | 48.7M |
| Pretax Income | 883.5M | 850.8M | 121.3M | 890.8M | -2.24B | 790.5M | 2.5B | 849.5M | 711.4M | 757M | 841.2M | 750.1M | 570.9M | 720.2M | 711M | 721.3M | 659.5M | 662.9M | 692.3M | 625.8M |
| Pretax Margin % | 27.85% | 27.42% | 3.83% | 29.47% | -76.93% | 26.97% | 78.53% | 28.46% | 24.28% | 25.26% | 26.36% | 24.72% | 17.84% | 22.69% | 19.92% | 22.62% | 22.39% | 22.14% | 24.37% | 24.03% |
| Income Tax | 158.7M | 159.4M | 111.2M | 159.6M | -505.8M | 140.7M | 538.4M | 140.6M | 130.5M | 135.4M | 154.2M | 139.6M | 121M | 136.4M | 130.6M | 134.2M | 122.7M | 113.3M | 125.3M | 101.7M |
| Effective Tax Rate % | 17.96% | 18.74% | 91.67% | 17.92% | 22.55% | 17.8% | 21.51% | 16.55% | 18.34% | 17.89% | 18.33% | 18.61% | 21.19% | 18.94% | 18.37% | 18.61% | 18.61% | 17.09% | 18.1% | 16.25% |
| Net Income | 710.4M | 678.2M | 4.9M | 713.8M | -1.73B | 617.4M | 1.95B | 696.6M | 572.4M | 609.3M | 692.6M | 595.6M | 439.8M | 572.2M | 583.1M | 582.1M | 530.5M | 560.4M | 610.4M | 533.6M |
| Net Margin % | 22.4% | 21.86% | 0.15% | 23.61% | -59.34% | 21.06% | 61.17% | 23.33% | 19.53% | 20.33% | 21.7% | 19.63% | 13.74% | 18.02% | 16.33% | 18.25% | 18.01% | 18.72% | 21.48% | 20.49% |
| Net Income Growth % | 141.05% | 9.85% | -99.75% | 2.47% | -402.34% | 1.33% | 181.53% | 16.96% | 30.15% | 6.48% | 18.78% | 2.32% | -17.1% | 2.11% | -4.47% | 9.09% | 12.13% | 16.27% | 25.39% | 19.51% |
| Net Income (Continuing) | 724.8M | 691.4M | 10.1M | 731.2M | -1.74B | 649.8M | 1.96B | 708.9M | 580.9M | 621.6M | 687M | 610.5M | 449.9M | 583.8M | 580.4M | 587.1M | 536.8M | 549.6M | 567M | 524.1M |
| Discontinued Operations | 0 | 0 | 0 | -1000K | 0 | 0 | -1000K | 0 | 0 | 0 | 1000K | 0 | 0 | 0 | 1000K | 0 | 0 | 0 | 1000K | 1000K |
| Minority Interest | 2.5B | 2.43B | 2.32B | 2.23B | 2.08B | 2.05B | 1.64B | 1.59B | 1.42B | 1.26B | 1.35B | 1.23B | 631.9M | 581.7M | 558.4M | 571.8M | 555.6M | 550.5M | 548.3M | 408.7M |
| EPS (Diluted) | 3.19 | 3.04 | 0.02 | 3.20 | -7.77 | 2.77 | 8.75 | 3.13 | 2.57 | 2.73 | 3.11 | 2.67 | 1.97 | 2.57 | 2.62 | 2.62 | 2.38 | 2.52 | 2.74 | 2.40 |
| EPS Growth % | 141.06% | 9.75% | -99.75% | 2.24% | -402.33% | 1.47% | 181.35% | 17.23% | 30.46% | 6.23% | 18.7% | 1.91% | -17.23% | 1.98% | -4.38% | 9.17% | 11.74% | 16.13% | 25.11% | 19.4% |
| EPS (Basic) | 3.19 | 3.04 | 0.02 | 3.20 | -7.77 | 2.77 | 8.76 | 3.13 | 2.57 | 2.74 | 3.11 | 2.68 | 1.98 | 2.58 | 2.63 | 2.62 | 2.39 | 2.53 | 2.75 | 2.41 |
| Diluted Shares Outstanding | 222.9M | 222.9M | 222.9M | 222.9M | 222.7M | 222.9M | 222.8M | 222.8M | 222.7M | 222.8M | 222.8M | 222.8M | 222.7M | 222.6M | 222.5M | 222.5M | 222.5M | 222.6M | 222.5M | 222.5M |
| Basic Shares Outstanding | 222.8M | 222.8M | 222.8M | 222.8M | 222.7M | 222.7M | 222.5M | 222.5M | 222.5M | 222.5M | 222.4M | 222.4M | 222.3M | 222.2M | 222.1M | 222M | 222M | 221.9M | 221.7M | 221.6M |
| Dividend Payout Ratio | 56.11% | 58.74% | 8130.61% | 55.8% | - | 63.75% | 20.18% | 56.49% | 67.96% | 63.83% | 56.12% | 65.26% | 81.81% | 62.81% | 61.64% | 61.71% | 62.7% | 59.26% | 54.39% | 62.22% |