Air Products

APD Materials Market cap $63.9B as of Sep 14, 2026 16:00 ET S&P 500

Q2 FY26 Jan 1 – Mar 31, 2026 reported Apr 30, 2026

Revenue$3.17B +9% year over year

Gross profit$1.00B 32% margin

Operating profit$0.75B 24% margin

Net profit$0.71B 22% margin

The numbers behind the diagram

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	3.17	100%	+9%
Onsite	1.71	54%	+10%
Merchant	1.32	42%	+4%
Sale of equipment	0.14	4%	+45%
Cost of revenue	−2.17	68%
Gross profit	1.00	32% margin	+2pp
R&D	−0.02	1%	+0pp
SG&A	−0.23	7%	+0pp
Operating profit	0.75	24% margin	+104pp
Other income, net	0.12
Tax	−0.16
Net profit	0.71	22% margin	+82pp

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.10	100%	+6%
Onsite	1.63	53%	+10%
Merchant	1.35	43%	+0%
Sale of equipment	0.12	4%	+21%
Cost of revenue	−2.11	68%
Gross profit	1.00	32% margin	+1pp
R&D	−0.02	1%	+0pp
SG&A	−0.23	7%	−1pp
Other	−0.01	0%	+0pp
Operating profit	0.74	24% margin	+2pp
Other income, net	0.10
Tax	−0.16
Net profit	0.68	22% margin	+1pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.17	100%	−1%
Onsite	1.60	50%	+2%
Merchant	1.39	44%	+2%
Sale of equipment	0.19	6%	−28%
Cost of revenue	−2.15	68%
Gross profit	1.02	32% margin	−52pp
R&D	−0.03	1%	+0pp
SG&A	−0.22	7%	+0pp
Other	−0.76	24%	+0pp
Operating profit	0.02	1% margin	−76pp
Other income, net	0.10
Tax	−0.11
Net profit	0.01	0% margin	−61pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.02	100%	+1%
Onsite	1.54	51%	+8%
Merchant	1.34	44%	+1%
Sale of equipment	0.14	5%	−39%
Cost of revenue	−1.99	66%
Gross profit	1.04	34% margin	+1pp
R&D	−0.02	1%	+0pp
SG&A	−0.22	7%	−1pp
Operating profit	0.79	26% margin	+1pp
Other income, net	0.08
Tax	−0.16
Net profit	0.71	24% margin	+0pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Filing on EDGAR This quarter on its own page

Financial health

The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.

Every set of results we hold, newest first. Open one on its own page.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26 Jan 1 – Mar 31, 2026 reported Apr 30, 2026 Operating margin 24% Net profit $0.71B	Jan 1 – Mar 31, 2026	Apr 30, 2026	$3.17B	+9%	24%	$0.71B	22%
Q1 FY26 Oct 1 – Dec 31, 2025 reported Jan 30, 2026 Operating margin 24% Net profit $0.68B	Oct 1 – Dec 31, 2025	Jan 30, 2026	$3.10B	+6%	24%	$0.68B	22%
Q4 FY25 Jul 1 – Sep 30, 2025 reported Nov 20, 2025 Operating margin 1% Net profit $0.01B	Jul 1 – Sep 30, 2025	Nov 20, 2025	$3.17B	−1%	1%	$0.01B	0%
Q3 FY25 Apr 1 – Jun 30, 2025 reported Jul 31, 2025 Operating margin 26% Net profit $0.71B	Apr 1 – Jun 30, 2025	Jul 31, 2025	$3.02B	+1%	26%	$0.71B	24%