Analyse produit facultative
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Air Products and Chemicals, Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $60.9B | |
|---|---|---|
| P/E (forward) | 19.9x |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2022-09-30 | 2023-09-30 | 2024-09-30 | 2025-09-30 | 2026-09-30 | Trend |
| Revenue | $12.70B | $12.60B | $12.10B | $12.04B | — | -1.8% |
| Gross profit | $3.36B | $3.77B | $3.93B | $3.78B | — | +4.0% |
| Operating income | $2.34B | $2.49B | $4.47B | $-877.0M | — | — |
| Net income | $2.26B | $2.30B | $3.83B | $-394.5M | — | — |
| EPS (diluted) | $10.14 | $10.33 | $17.18 | $-1.77 | $9.83 | -0.8% |
| EBITDA | $4.22B | $4.42B | $6.49B | $1.34B | — | -31.8% |
| R&D | $102.9M | $105.6M | $100.2M | $96.3M | — | -2.2% |
| SG&A | $900.6M | $957.0M | $942.4M | $906.1M | — | +0.2% |
Recent company headlines from major financial publishers.
In the base scenario, capital expenditure moderates to the guided $3.5B ceiling in FY2026 from $7,022.6M in FY2025, enabling a sharp free cash flow recovery. The Americas segment maintains defensive operating margins near 29.6% ($1,519.6M operating income on $5,125.9M revenue), supported by long-term take-or-pay on-site pipeline contracts. Asia operations stabilize as advanced electronics demand balances flat broad merchant manufacturing. Consolidated FY2027 diluted EPS reaches $14.44 and revenue reaches $13,494.0M, supporting a composite fair value midpoint of $251.01.
In the bull scenario, capital expenditures step down rapidly toward maintenance levels below $3.0B following completion of major clean hydrogen and ammonia projects, while commercialized facilities generate immediate high-margin offtake revenue. Americas core pipeline density expands pricing power, and a synchronized industrial manufacturing recovery in China and Europe re-accelerates merchant liquid gas volumes. Consolidated operating margins expand above 23%, net debt rapidly amortizes, and normalized earnings power exceeds consensus FY2027 projections, supporting intrinsic value reaching $304.72.
| Ke ↓ / g → | 2.0% | 2.3% | 2.5% | 2.8% | 3.0% |
|---|---|---|---|---|---|
| 7.7% | $275 | $281 | $287 | $293 | $300 |
| 8.2% | $258 | $263 | $267 | $273 | $278 |
| 8.7% | $244 | $247 | $251 | $255 | $260 |
| 9.2% | $231 | $234 | $237 | $240 | $244 |
| 9.7% | $219 | $222 | $224 | $227 | $230 |
Upcoming earnings date and setup when available.
La notation portée par l'édition de recherche publiée chaque mois. Une notation compare le cours à la date d'analyse à la juste valeur ; elle n'indique pas si l'appréciation s'est révélée juste.
| Année | janv. | févr. | mars | avr. | mai | juin | juil. | août | sept. | oct. | nov. | déc. |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
