Air Products (APD) valuation
Air Products P/E ratio history
Air Products has no meaningful price to earnings ratio at the last close, which happens when earnings over the last twelve months are negative or close to zero. At its last 9 fiscal year ends its P/E ranged from 11.1 (year to Sep 2017) to 52.0 (year to Sep 2016), with a median of 27.2.
| Fiscal year ended | Price | EPS | P/E | Forward P/E |
|---|---|---|---|---|
| Sep 30, 2025 | $272.72 | -$1.77 | n/m | 21.5 |
| Sep 30, 2024 | $297.74 | $17.18 | 17.3 | 22.7 |
| Sep 30, 2023 | $283.40 | $10.33 | 27.4 | 23.0 |
| Sep 30, 2022 | $232.73 | $10.14 | 23.0 | 20.9 |
| Sep 30, 2021 | $256.11 | $9.43 | 27.2 | 25.0 |
| Sep 30, 2020 | $297.86 | $8.49 | 35.1 | — |
| Sep 30, 2019 | $221.86 | $7.94 | 27.9 | — |
| Sep 30, 2018 | $167.05 | $6.79 | 24.6 | — |
| Sep 30, 2017 | $151.22 | $13.66 | 11.1 | — |
| Sep 30, 2016 | $150.34 | $2.89 | 52.0 | — |
n/m: not meaningful (a loss, or earnings close to zero). The daily P/E line is a chart indicator in the app.
Air Products valuation against its peers
| Company | Market value | P/E | Forward P/E | Price / sales |
|---|---|---|---|---|
| Air ProductsAPD | $70.5B | — | 22.3 | 5.6 |
| NucorNUE | $62.4B | 21.9 | 13.2 | 1.7 |
| Sherwin-WilliamsSHW | $80.7B | 30.6 | 25.7 | 3.2 |
| CRHCRH | $60.4B | 17.1 | 15.0 | 1.6 |
| EcolabECL | $84.9B | 41.2 | 33.3 | 4.9 |
| Freeport-McMoRanFCX | $89.8B | 30.8 | 15.4 | 3.5 |
| Wheaton Precious MetalsWPM | $52.9B | 25.9 | 24.6 | 16.7 |
| NewmontNEM | $112B | 12.4 | 10.9 | 4.2 |
| Franco-NevadaFNV | $43.4B | 29.4 | 26.7 | 18.7 |
| Peer median | 27.6 | 20.0 | 3.8 |
Reading these multiples
The P/E divides the share price by earnings per share over the last twelve months; the forward P/E divides it by the earnings analysts expect over the next twelve. Price to sales compares the company's market value with its revenue over the last twelve months. A multiple reads differently from one industry to the next, so the peer group above is the fairer comparison.
See also: APD financials · APD returns
No forecast, no recommendation. This page describes Air Products from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.