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Air Products & Chemicals Inc
APD : NYSE : Basic Materials
$145.88 up3.37 | 2.36%
Today's Range: 141.91 - 147.29
Avg. Daily Volume: 1,094,300
08/03/15 - 4:00 PM ET

Financial Analysis


AIR PRODUCTS & CHEMICALS INC's gross profit margin for the third quarter of its fiscal year 2015 has increased when compared to the same period a year ago. Even though sales decreased, the net income has increased, representing an increase to the bottom line. AIR PRODUCTS & CHEMICALS INC has weak liquidity. Currently, the Quick Ratio is 0.57 which shows a lack of ability to cover short-term cash needs. The company's liquidity has decreased from the same period last year.

During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 1.43% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY15 Q3 FY14
Net Sales ($mil)2470.22634.6
EBITDA ($mil)710.8649.1
EBIT ($mil)477.8410.1
Net Income ($mil)318.8314.0


Balance Sheet Q3 FY15 Q3 FY14
Cash & Equiv. ($mil)215.3337.6
Total Assets ($mil)17671.518316.2
Total Debt ($mil)5863.26136.0
Equity ($mil)7586.07696.7


Profitability Q3 FY15 Q3 FY14
Gross Profit Margin39.9536.24
EBITDA Margin28.7724.63
Operating Margin19.3415.57
Sales Turnover0.570.56
Return on Assets5.875.59
Return on Equity13.6513.44
Debt Q3 FY15 Q3 FY14
Current Ratio1.061.06
Debt/Capital0.440.44
Interest Expense0.038.9
Interest Coverage0.010.54


Share Data Q3 FY15 Q3 FY14
Shares outstanding (mil)214.77213.02
Div / share0.810.77
EPS1.471.46
Book value / share35.3236.13
Institutional Own % n/a n/a
Avg Daily Volume1105815.01004199.0

Valuation


BUY. AIR PRODUCTS & CHEMICALS INC's P/E ratio indicates a premium compared to an average of 23.21 for the Chemicals industry and a premium compared to the S&P 500 average of 21.25. Conducting a second comparison, its price-to-book ratio of 4.03 indicates a premium versus the S&P 500 average of 2.83 and a significant discount versus the industry average of 5.61. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. The valuation analysis reveals that, AIR PRODUCTS & CHEMICALS INC seems to be trading at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
APD 29.84 Peers 23.21   APD 13.53 Peers 14.35

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

APD is trading at a significant premium to its peers.

 

Average. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

APD is trading at a valuation on par to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
APD 19.69 Peers 17.98   APD 0.74 Peers 5.03

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

APD is trading at a premium to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

APD trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
APD 4.03 Peers 5.61   APD -1.04 Peers 34.18

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

APD is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, APD is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
APD 3.02 Peers 2.24   APD -2.19 Peers 2.77

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

APD is trading at a significant premium to its industry.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

APD significantly trails its peers on the basis of sales growth

 

 

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