Air Products & Chemicals Inc

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APD : NYSE : Basic Materials
$141.5 -0.37 | -0.26%
Today's Range: 141.1 - 142.14
Avg. Daily Volume: 1416500.0
02/17/17 - 4:01 PM ET

Financial Analysis

AIR PRODUCTS & CHEMICALS INC's gross profit margin for the first 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 weak liquidity. Currently, the Quick Ratio is 0.59 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

During the same period, stockholders' equity ("net worth") has remained virtually unchanged only decreasing by 2.79% 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 Q1 FY17 Q1 FY16
Net Sales ($mil)1882.51866.3
EBITDA ($mil)589.7594.3
EBIT ($mil)383.6379.6
Net Income ($mil)299.8363.6

Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)655.5279.1
Total Assets ($mil)15956.217260.3
Total Debt ($mil)4318.45817.8
Equity ($mil)7161.57367.1

Profitability Q1 FY17 Q1 FY16
Gross Profit Margin40.9342.07
EBITDA Margin31.3231.84
Operating Margin20.3820.34
Sales Turnover0.570.53
Return on Assets3.557.62
Return on Equity19.3916.82
Debt Q1 FY17 Q1 FY16
Current Ratio1.210.78
Interest Expense35.835.8
Interest Coverage10.7210.6

Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)217.59215.65
Div / share1.720.81
Book value / share32.9134.16
Institutional Own % n/a n/a
Avg Daily Volume1408831.01688671.0


BUY. The current P/E ratio indicates a significant discount compared to an average of 37.43 for the Chemicals industry and a discount compared to the S&P 500 average of 26.35. Conducting a second comparison, its price-to-book ratio of 4.31 indicates a premium versus the S&P 500 average of 2.94 and a significant discount versus the industry average of 6.12. 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 22.31 Peers 37.43   APD 12.03 Peers 15.39

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.


Discount. 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 discount to its peers.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
APD 20.96 Peers 20.73   APD NM Peers 1.83

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 4.31 Peers 6.12   APD 11.57 Peers -15.44

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 3.41 Peers 2.36   APD -1.63 Peers -3.25

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.


Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

APD has a sales growth rate that significantly exceeds its peers.



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