Air Products and Chemicals, Inc. income statement & cash flow
In the fiscal year ended Sep 30, 2025, Air Products and Chemicals, Inc. reported net income of −$394.50M on revenue of $12.04B. Operating cash flow was $3.26B and capital expenditures were $7.02B, leaving −$3.77B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Sep 2016 | Sep 2017 | Sep 2018 | Sep 2019 | Sep 2020 | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.50B | $8.19B | $8.93B | $8.92B | $8.86B | $10.32B | $12.70B | $12.60B | $12.10B | $12.04B |
| Gross profit | $2.33B | $2.44B | $2.74B | $2.91B | $3.00B | — | — | — | — | — |
| Operating income | $1.54B | $1.44B | $1.97B | $2.14B | $2.24B | $2.28B | $2.34B | $2.49B | $4.47B | −$877.00M |
| Net income | $631.10M | $3.00B | $1.50B | $1.76B | $1.89B | $2.10B | $2.26B | $2.30B | $3.83B | −$394.50M |
| Diluted EPS | $2.89 | $13.65 | $6.78 | $7.94 | $8.49 | $9.43 | $10.14 | $10.33 | $17.18 | −$1.77 |
| Operating cash flow | $2.26B | $2.53B | $2.55B | $2.97B | $3.26B | $3.34B | $3.17B | $3.21B | $3.65B | $3.26B |
| Capital expenditures | $907.70M | $1.04B | $1.57B | $1.99B | $2.51B | $2.46B | $2.93B | $4.63B | $6.80B | $7.02B |
| Reported in | 10-K 2018 | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2025 | 10-K 2025 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Sep 2025 | — | -7.3% | -3.3% |
| Sep 2024 | — | 36.9% | 31.6% |
| Sep 2023 | — | 19.8% | 18.3% |
| Sep 2022 | — | 18.4% | 17.8% |
| Sep 2021 | — | 22.1% | 20.3% |
Source: SEC EDGAR XBRL company facts for CIK 2969 (raw data). Most recent filing in this dataset: 10-Q filed Jul 30, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.