Air Products & Chemicals Inc

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APD : NYSE : Basic Materials
$150.26 | %
Today's Range: 150.16 - 151.22
Avg. Daily Volume: 1390400.0
09/22/17 - 4:02 PM ET

Financial Analysis

AIR PRODUCTS & CHEMICALS INC's gross profit margin for the third quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased. AIR PRODUCTS & CHEMICALS INC has strong liquidity. Currently, the Quick Ratio is 1.83 which shows the ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has greatly increased by 33.59% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)2121.91914.5
EBITDA ($mil)653.5620.7
EBIT ($mil)436.6407.2
Net Income ($mil)101.9346.8

Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)3348.7514.8
Total Assets ($mil)17853.817083.5
Total Debt ($mil)3926.05683.7
Equity ($mil)9412.47045.4

Profitability Q3 FY17 Q3 FY16
Gross Profit Margin40.1842.19
EBITDA Margin30.7932.42
Operating Margin20.5821.27
Sales Turnover0.470.47
Return on Assets16.383.4
Return on Equity11.2816.4
Debt Q3 FY17 Q3 FY16
Current Ratio2.20.92
Interest Expense32.939.1
Interest Coverage13.2710.41

Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)217.96216.55
Div / share0.950.86
Book value / share43.1832.53
Institutional Own % n/a n/a
Avg Daily Volume1341570.01282423.0


BUY. This stock's P/E ratio indicates a significant discount compared to an average of 47.63 for the Chemicals industry and a premium compared to the S&P 500 average of 24.88. To use another comparison, its price-to-book ratio of 3.48 indicates a premium versus the S&P 500 average of 3.10 and a discount versus the industry average of 4.92. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, AIR PRODUCTS & CHEMICALS INC proves to trade at a discount to investment alternatives within the industry.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
APD 30.94 Peers 47.63   APD 19.31 Peers 16.70

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

APD is trading at a significant discount to its peers.


Premium. 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 premium to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
APD 21.75 Peers 21.35   APD NM Peers 1.69

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.


Neutral. 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's negative PEG ratio makes this valuation measure meaningless.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
APD 3.48 Peers 4.92   APD -8.67 Peers -25.18

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.


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

APD is expected to have an earnings growth rate that significantly exceeds its peers.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
APD 3.87 Peers 2.35   APD 5.49 Peers 9.42

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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