Company Dossier · Materials
Air Products
- S&P 500
- Russell 1000
What Air Products is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to June 30, 2026: $12.6 billion, up 4.5% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to June 30, 2026: $4.87 billion, down 36% from a year earlier.SEC EDGAR filings (XBRL)
- Long-term debt issued in the fiscal year to September 30, 2025: $4.39 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (July 30, 2026): sentiment 0.30 on a −1 to +1 scale (mixed), confidence 0.50 of 1.Palanor Discourse
- Guidance in the last 90 days: 1 outlook figure raised, 1 lowered, 0 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed November 20, 2025): 2 risk factors added, 1 removed.Risk Factor Changes (10-K Item 1A)
- Insiders were net sellers in Q2 2026: $0.8 million on the open market.SEC Form 4
- 1,780 institutional managers reported a position at June 30, 2026 (−11 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 7 (7 a year earlier).U.S. Department of Labor (OFLC)
Company Posture
How Company Posture is measured →What Air Products is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Retrenching · Hedging
Expanding ↔ Retrenching
Retrenching
- Capital spending9th pct
- Debt raised15th pct
- Buybacks vs capex—
- Hiring filings28th pct
- Deals and private raises47th pct
- Patent publications19th pct
Confident ↔ Hedging
Hedging
- Call sentiment38th pct
- Call confidence15th pct
- Guidance changes45th pct
- Risk factors added10th pct
- Insider open-market trades36th pct
- − Call confidence
- − Risk factors added
- − Call sentiment
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver70th pct
- Stress filings48th pct
Credit
How these are built →Air Products's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$0.9B
- Due within a year $0.9B
- Longer term $0.0B
- Default point $0.9B (short + ½ long)
Finance leases included · Jun 30, 2026 filing
Bonds priced, last 12 months
None
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| Jun 10, 2025 | €500M | 3.250% | 2032 (7y) | +103bp | 3.305% |
| Jun 9, 2025 | $1.1B | 4.300% | 2028 (3y) | +35bp | 4.324% |
| Jun 9, 2025 | $1.1B | 4.900% | 2032 (7y) | +65bp | 4.921% |
| Feb 10, 2025 | €1B | 3.450% | 2037 (12y) | +99bp | 3.453% |
| Feb 10, 2025 | €1B | 2.950% | 2031 (6y) | +89bp | 2.995% |
| Feb 6, 2024 | $2.5B | 4.600% | 2029 (5y) | +60bp | 4.630% |
| Feb 6, 2024 | $2.5B | 4.750% | 2031 (7y) | +70bp | 4.767% |
| Feb 6, 2024 | $2.5B | 4.850% | 2034 (10y) | +80bp | 4.885% |
From the pricing term sheets Air Products filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Capital returned and raised
What the company says
Hiring and ownership
In the news
Headlines that name Air Products, with the publisher and a link. The tone is read from each headline’s own words, never from a summary of the article.
- NeutralInox Air Products files draft papers for initial offer
economictimes.indiatimes.com · via Marketaux · Oct 2, 2026
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 20, 2026LobbyingLobbying report (AIR PRODUCTS AND CHEMICALS, INC.)third_quarter 2026 · $0.0 million
- Oct 20, 2026LobbyingLobbying report (KLEIN/JOHNSON GROUP)third_quarter 2026 · $0.0 million
- Sep 29, 2026Patent
- Sep 22, 2026Patent
- Sep 15, 2026Patent
- Sep 8, 2026Patent
- Sep 8, 2026Patent
- Jul 20, 2026LobbyingLobbying report (KLEIN/JOHNSON GROUP)second_quarter 2026 · $0.0 million
- Jul 20, 2026LobbyingLobbying report (AIR PRODUCTS AND CHEMICALS, INC.)second_quarter 2026 · $0.1 million
- Jun 30, 20268-KMaterial impairmentItem 2.06
- Apr 20, 2026LobbyingLobbying report (AIR PRODUCTS AND CHEMICALS, INC.)first_quarter 2026 · $0.1 million
- Apr 20, 2026LobbyingLobbying report (KLEIN/JOHNSON GROUP)first_quarter 2026 · $0.0 million
- Jan 29, 20268-KShareholder vote resultsItem 5.07
- Jan 21, 2026LobbyingLobbying report (AIR PRODUCTS AND CHEMICALS, INC.)fourth_quarter 2025 · $0.1 million
- Jan 20, 2026LobbyingLobbying report (KLEIN/JOHNSON GROUP)fourth_quarter 2025 · $0.0 million
- Nov 25, 20258-KDirector or officer changeItem 5.02
- Nov 20, 202510-KAnnual report (10-K)2 risk factors added, 1 removed
- Aug 20, 20258-KDirector or officer changeItem 5.02
- Jul 8, 20258-KDirector or officer changeItem 5.02
- Feb 24, 20258-KMaterial impairmentItem 2.06
- Feb 4, 20258-KDirector or officer changeItem 5.02
- Jan 27, 20258-KShareholder vote resultsItem 5.07
- Nov 21, 202410-KAnnual report (10-K)1 risk factors added, 0 removed
- Nov 21, 2024Risk event
- Nov 18, 20248-KDirector or officer changeItem 5.02
- Nov 16, 202310-KAnnual report (10-K)1 risk factors added, 2 removed
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| Linde plc LIN | $35.5B | $5.0B | Jun 30, 2026 |
| Mosaic Company (The) MOS | $12.3B | −$0.9B | Jun 30, 2026 |
| Crown Holdings CCK | $13.3B | $1.2B | Jun 30, 2026 |
| Alcoa AA | $13.6B | $0.3B | Jun 30, 2026 |
| Westlake Corporation WLK | $11.3B | −$0.3B | Jun 30, 2026 |
| Ball Corporation BALL | $14.3B | $0.8B | Jun 30, 2026 |
| International Flavors & Fragrances IFF | $10.8B | $0.5B | Jun 30, 2026 |
| Reliance, Inc. RS | $14.8B | $0.6B | Mar 31, 2026 |