Question 1

What is Air Products and Chemicals's P/S ratio?

Accepted Answer

Air Products and Chemicals (APD) P/S ratio is 5.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for Air Products and Chemicals?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Air Products and Chemicals specifically, the relevant sector benchmark is the current sector median of 2.2×.

Question 5

Is Air Products and Chemicals's P/S ratio high or low?

Accepted Answer

Air Products and Chemicals's P/S ratio of 5.0× is below its own 5-year average of 5.1× and above the sector median of 2.2×. That places the current reading at the 51th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Air Products and Chemicals's historical P/S ratio range?

Accepted Answer

In the available daily series, Air Products and Chemicals (APD) P/S ratio has ranged from a low of 1.0× in 2008 to a high of 7.4× in 2020. The 5-year average is 5.1× and the 5-year median is 5.1×.

Question 7

What was Air Products and Chemicals's P/S ratio in 2025?

Accepted Answer

Air Products and Chemicals (APD) P/S ratio at the end of 2025 was 5.0×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does Air Products and Chemicals's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$60.76B	$12.04B	5.0×	-0.4×	Sep 30, 2025
2024	$66.25B	$12.10B	5.5×	+0.5×	Sep 30, 2024
2023	$63.03B	$12.60B	5.0×	+0.9×	Sep 30, 2023
2022	$51.69B	$12.70B	4.1×	-1.4×	Sep 30, 2022
2021	$56.78B	$10.32B	5.5×	-1.9×	Sep 30, 2021
2020	$65.92B	$8.86B	7.4×	+2.0×	Sep 30, 2020
2019	$48.96B	$8.92B	5.5×	+1.3×	Sep 30, 2019
2018	$37.21B	$8.93B	4.2×	+0.1×	Sep 30, 2018
2017	$33.03B	$8.19B	4.0×	+0.3×	Sep 30, 2017
2016	$30.19B	$8.02B	3.8×	+1.2×	Sep 30, 2016
2015	$25.42B	$9.89B	2.6×	+0.1×	Sep 30, 2015
2014	$25.72B	$10.44B	2.5×	+0.4×	Sep 30, 2014
2013	$20.79B	$10.18B	2.0×	+0.4×	Sep 30, 2013
2012	$16.23B	$9.71B	1.7×	+0.2×	Sep 30, 2012
2011	$14.85B	$9.98B	1.5×	-0.3×	Sep 30, 2011
2010	$16.40B	$9.03B	1.8×	-0.0×	Sep 30, 2010
2009	$15.18B	$8.26B	1.8×	+0.6×	Sep 30, 2009
2008	$13.26B	$10.41B	1.3×	-0.8×	Sep 30, 2008
2007	$19.63B	$9.69B	2.0×	+0.5×	Sep 30, 2007
2006	$13.30B	$8.85B	1.5×	+0.1×	Sep 30, 2006
2005	$11.32B	$8.14B	1.4×	-0.1×	Sep 30, 2005
2004	$11.38B	$7.41B	1.5×	+0.1×	Sep 30, 2004
2003	$9.25B	$6.30B	1.5×	-0.1×	Sep 30, 2003
2002	$8.50B	$5.40B	1.6×	—	Sep 30, 2002


Newmont (NEM)	4.8×
Ecolab (ECL)	4.6×
Vulcan Materials (VMC)	4.5×
Albemarle (ALB)	3.9×
Sherwin-Williams (SHW)	3.3×
Freeport-McMoRan (FCX)	3.2×
Corteva (CTVA)	3.1×
Solstice Advanced Materials (SOLS)	3.0×
CF Industries Holdings (CF)	2.7×
Weyerhaeuser (WY)	2.5×
DuPont de Nemours (DD)	1.9×
RPM International (RPM)	1.9×
International Flavors & Fragrances (IFF)	1.7×
PPG Industries (PPG)	1.5×
Ashland (ASH)	1.4×
Steel Dynamics (STLD)	1.4×
CRH (CRH)	1.3×
Nucor (NUE)	1.2×
H.B. Fuller (FUL)	1.0×
Avient (AVNT)	1.0×
Eastman Chemical (EMN)	1.0×
LyondellBasell (LYB)	0.9×
Dow (DOW)	0.8×
Mosaic (MOS)	0.7×
Stepan (SCL)	0.5×

P/S Ratio for Air Products and Chemicals (APD)

P/S Ratio daily chart for Air Products and Chemicals (APD)

Historical P/S Ratio for Air Products and Chemicals (APD) from 2002 to 2025

About P/S Ratio at Air Products and Chemicals (APD)

Air Products and Chemicals P/S Ratio by Year

Air Products and Chemicals P/S Ratio 2025: 5.0×

Air Products and Chemicals P/S Ratio 2024: 5.5×

Air Products and Chemicals P/S Ratio 2023: 5.0×

Air Products and Chemicals P/S Ratio 2022: 4.1×

Air Products and Chemicals P/S Ratio 2021: 5.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Air Products and Chemicals (APD) Key Financials

P/S Ratio daily chart for Air Products and Chemicals (APD)

Historical P/S Ratio for Air Products and Chemicals (APD) from 2002 to 2025

About P/S Ratio at Air Products and Chemicals (APD)

Air Products and Chemicals P/S Ratio by Year

Air Products and Chemicals P/S Ratio 2025: 5.0×

Air Products and Chemicals P/S Ratio 2024: 5.5×

Air Products and Chemicals P/S Ratio 2023: 5.0×

Air Products and Chemicals P/S Ratio 2022: 4.1×

Air Products and Chemicals P/S Ratio 2021: 5.5×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

+What is Air Products and Chemicals's P/S ratio?

+How is the P/S ratio calculated?

+What is the P/S ratio?

+What is a good P/S ratio for Air Products and Chemicals?

+Is Air Products and Chemicals's P/S ratio high or low?

+What is Air Products and Chemicals's historical P/S ratio range?

+What was Air Products and Chemicals's P/S ratio in 2025?

+Why does Air Products and Chemicals's P/S ratio change over time?

Air Products and Chemicals (APD) Key Financials