FINHUB Insights

APD · Q4 FY25 · Jul 1 – Sep 30, 2025

Air Products Q4 FY25: where the revenue came from and where it went

Air Products Q4 FY25: revenue $3.2B (−1% year over year). Net profit $0B. Largest cohort Onsite $1.6B. The whole income statement as a sankey diagram from the SEC filing.

Period
Jul 1 – Sep 30, 2025
Reported
Nov 20, 2025 10-K
Sankey diagram of Air Products's income statement for Q4 FY25: revenue of $3.2 billion splits into segments and flows out into costs, taxes and net profit.

Tap the diagram to enlarge · figures in billions of dollars

Revenue$3.2B −1% year over year
Gross profit$1B 32% margin
Operating profit$0B 1% margin
Net profit$0B 0% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Sep 30, 2025).
ItemValueShare of revenueYear over year
Revenue 3.2 100% −1%
Onsite 1.6 50% +2%
Merchant 1.4 44% +2%
Sale of Equipment 0.2 6% −28%
Cost of revenue−2.166%
Gross profit132% margin−2pp
Research & development−01%+0pp
SG&A−0.27%+0pp
Other−0.824%+0pp
Operating profit01% margin−76pp
Tax−0.1
Net profit00%−61pp
Filing on EDGAR More quarters of APD

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

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