Air Products and Chemicals (APD)
Market Price (12/4/2025): $260.65 | Market Cap: $58.1 BilSector: Materials | Industry: Industrial Gases
Air Products and Chemicals (APD)
Market Price (12/4/2025): $260.65Market Cap: $58.1 BilSector: MaterialsIndustry: Industrial Gases
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Megatrend and thematic driversMegatrends include Hydrogen Economy, Energy Transition & Decarbonization, Advanced Materials, and Sustainable Resource Management. Show more. |
| Megatrend and thematic driversMegatrends include Hydrogen Economy, Energy Transition & Decarbonization, Advanced Materials, and Sustainable Resource Management. Show more. |
Valuation, Metrics & Events
APD Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
I am unable to provide the requested information. The available data for Air Products and Chemicals (APD) for the approximate time period from August 31, 2025, to December 4, 2025, indicates positive stock movements, including surges and rallies, rather than a -10.9% decline. Therefore, I cannot highlight key points explaining a -10.9% drop for the specified period.
Show moreStock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| APD Return | 19% | 14% | 4% | -9% | 8% | -9% | 25% |
| Peers Return | 14% | 24% | -21% | 19% | -19% | -23% | -18% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| APD Win Rate | 67% | 50% | 50% | 50% | 58% | 50% | |
| Peers Win Rate | 67% | 57% | 47% | 42% | 43% | 36% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| APD Max Drawdown | -25% | -7% | -28% | -16% | -21% | -16% | |
| Peers Max Drawdown | -53% | -5% | -35% | -8% | -27% | -48% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: DD, DOW, EMN, CE, HUN. See APD Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | APD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -30.5% | -25.4% |
| % Gain to Breakeven | 44.0% | 34.1% |
| Time to Breakeven | 263 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -31.0% | -33.9% |
| % Gain to Breakeven | 44.9% | 51.3% |
| Time to Breakeven | 106 days | 148 days |
| 2018 Correction | ||
| % Loss | -14.4% | -19.8% |
| % Gain to Breakeven | 16.8% | 24.7% |
| Time to Breakeven | 114 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.7% | -56.8% |
| % Gain to Breakeven | 154.6% | 131.3% |
| Time to Breakeven | 1708 days | 1480 days |
Compare to DD, DOW, EMN, CE, HUN
In The Past
Air Products and Chemicals's stock fell -30.5% during the 2022 Inflation Shock from a high on 11/10/2021. A -30.5% loss requires a 44.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Latest Trefis Analyses
Trade Ideas
Select past ideas related to APD. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | DD | DuPont de Nemours | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.1% | 3.1% | -0.2% |
| 11212025 | CF | CF Industries | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.5% | 0.5% | -1.1% |
| 11212025 | HL | Hecla Mining | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 30.9% | 30.9% | 0.0% |
| 11072025 | CDE | Coeur Mining | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 12.7% | 12.7% | -5.7% |
| 10312025 | ATR | AptarGroup | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 4.8% | 4.8% | -2.5% |
| 09302022 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 24.8% | 24.7% | -1.5% |
| 03312022 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -6.6% | 17.9% | -10.6% |
| 09302021 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -6.8% | -14.4% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | DD | DuPont de Nemours | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.1% | 3.1% | -0.2% |
| 11212025 | CF | CF Industries | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.5% | 0.5% | -1.1% |
| 11212025 | HL | Hecla Mining | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 30.9% | 30.9% | 0.0% |
| 11072025 | CDE | Coeur Mining | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 12.7% | 12.7% | -5.7% |
| 10312025 | ATR | AptarGroup | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 4.8% | 4.8% | -2.5% |
| 09302022 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 24.8% | 24.7% | -1.5% |
| 03312022 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -6.6% | 17.9% | -10.6% |
| 09302021 | APD | Air Products and Chemicals | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -1.3% | -6.8% | -14.4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Air Products and Chemicals
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Financials
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Growth & Margins
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Valuation
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Returns
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Comparison Analyses
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 6302025 | 7312025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2062025 | 10-Q 12/31/2024 |
| 9302024 | 11212024 | 10-K 9/30/2024 |
| 6302024 | 8012024 | 10-Q 6/30/2024 |
| 3312024 | 4302024 | 10-Q 3/31/2024 |
| 12312023 | 2052024 | 10-Q 12/31/2023 |
| 9302023 | 11162023 | 10-K 9/30/2023 |
| 6302023 | 8032023 | 10-Q 6/30/2023 |
| 3312023 | 5092023 | 10-Q 3/31/2023 |
| 12312022 | 2022023 | 10-Q 12/31/2022 |
| 9302022 | 11222022 | 10-K 9/30/2022 |
| 6302022 | 8042022 | 10-Q 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 2042022 | 10-Q 12/31/2021 |
| 9302021 | 11182021 | 10-K 9/30/2021 |
External Quote Links
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| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |