How does Air Products and Chemicals (APD) make money?

Air Products and Chemicals (APD) primarily makes money through On-site, which accounts for 51.8% of total revenue. For TTM through Q4 2025, Air Products and Chemicals generated $12.21B in total revenue with a net profit margin of -2.7%.

What is Air Products and Chemicals (APD) gross profit margin?

Air Products and Chemicals (APD) reported a gross profit margin of 31.6% for TTM through Q4 2025, equivalent to $3.86B in gross profit. This means Air Products and Chemicals retains 31.6% of each revenue unit after direct costs of production.

What is Air Products and Chemicals (APD) operating profit margin?

Air Products and Chemicals (APD) reported an operating profit margin of -6.4% for TTM through Q4 2025, equivalent to −$786.10M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Air Products and Chemicals (APD) net profit margin?

Air Products and Chemicals (APD) reported a net profit margin of -2.7% for TTM through Q4 2025, equivalent to −$333.70M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Air Products and Chemicals (APD) invest in R&D?

Air Products and Chemicals (APD) invested $94.70M in research and development in TTM through Q4 2025 (0.8% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does Air Products and Chemicals (APD) spend on capital expenditures?

Air Products and Chemicals (APD) spent $6.16B on capital expenditures in TTM through Q4 2025 (50.4% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Air Products and Chemicals (APD) free cash flow?

Air Products and Chemicals (APD) generated −$2.81B in free cash flow for TTM through Q4 2025 (-23.0% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

How Air Products and Chemicals (APD) Makes Money: A Visual Guide

Air Products and Chemicals (APD) generated $12.21B in revenue but reported a net loss of $333.70M. Its largest revenue source is On-site (51.8% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Air Products and Chemicals (APD) Income Statement Flow — TTM through Q4 2025

Calculated from the four most recent reported quarters, ending December 31, 2025 (reported January 30, 2026).

Frequently asked questions

How does Air Products and Chemicals (APD) make money?: Air Products and Chemicals (APD) primarily makes money through On-site, which accounts for 51.8% of total revenue. For TTM through Q4 2025, Air Products and Chemicals generated $12.21B in total revenue with a net profit margin of -2.7%.
What is Air Products and Chemicals (APD) gross profit margin?: Air Products and Chemicals (APD) reported a gross profit margin of 31.6% for TTM through Q4 2025, equivalent to $3.86B in gross profit. This means Air Products and Chemicals retains 31.6% of each revenue unit after direct costs of production.
What is Air Products and Chemicals (APD) operating profit margin?: Air Products and Chemicals (APD) reported an operating profit margin of -6.4% for TTM through Q4 2025, equivalent to −$786.10M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Air Products and Chemicals (APD) net profit margin?: Air Products and Chemicals (APD) reported a net profit margin of -2.7% for TTM through Q4 2025, equivalent to −$333.70M in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Air Products and Chemicals (APD) invest in R&D?: Air Products and Chemicals (APD) invested $94.70M in research and development in TTM through Q4 2025 (0.8% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Air Products and Chemicals (APD) spend on capital expenditures?: Air Products and Chemicals (APD) spent $6.16B on capital expenditures in TTM through Q4 2025 (50.4% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Air Products and Chemicals (APD) free cash flow?: Air Products and Chemicals (APD) generated −$2.81B in free cash flow for TTM through Q4 2025 (-23.0% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q4 2025.