Air Products & Chemicals, Inc. (APD) closed fiscal year 2025 with a gross margin of 31.4 % and a net margin of -3.3 %.
Air Products & Chemicals, Inc. (APD) closed fiscal year 2025 with a gross margin of 31.4 % and a net margin of -3.3 %. The same year shows an EBITDA margin of 5.7 % and an EBIT margin of -7.3 %. The free cash flow margin was -31.3 %. Across the period the gross margin ranges between 26.1 % in 2008 and 37.8 % in 2015. The series covers 19 fiscal years, from 2007 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: September
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | 26.77 % | 26.13 % | 26.82 % | 29.28 % | 26.62 % | 26.63 % | 26.60 % | 26.86 % | 37.78 % | — | 29.75 % | — | — | — | — | — | — | — | 31.41 % |
| EBITDA margin (%) | 23.67 % | 22.71 % | 20.43 % | 24.31 % | 24.21 % | 22.09 % | 21.92 % | 21.99 % | 26.73 % | 31.85 % | 28.16 % | 32.88 % | 36.18 % | 38.65 % | 34.90 % | 28.96 % | 30.58 % | 48.90 % | 5.71 % |
| EBIT margin (%) | 15.04 % | 14.36 % | 10.25 % | 14.71 % | 15.59 % | 13.34 % | 13.01 % | 12.83 % | 15.76 % | 20.46 % | 17.59 % | 22.01 % | 24.04 % | 25.27 % | 22.10 % | 18.42 % | 19.80 % | 36.91 % | -7.29 % |
| Net margin (%) | 11.32 % | 8.73 % | 7.65 % | 11.94 % | 12.65 % | 12.14 % | 9.77 % | 9.50 % | 16.33 % | 8.41 % | 36.65 % | 16.77 % | 19.73 % | 21.30 % | 20.33 % | 17.77 % | 18.26 % | 31.64 % | -3.28 % |
| FCF margin (%) | 5.32 % | 5.51 % | 1.82 % | 6.19 % | 4.59 % | 2.89 % | 0.42 % | 7.90 % | 16.71 % | 23.36 % | 6.38 % | 10.82 % | 10.99 % | 8.53 % | 8.50 % | 2.39 % | -11.27 % | -26.03 % | -31.28 % |
