Air Products and Chemicals, Inc. (APD) balance sheet
NYSE · Basic Materials · Chemicals - Specialty · 21,194 employees · CEO Eduardo F. Menezes
- Price
- $316.43 +1.50%
- Market cap
- $70.5B
- Enterprise value
- $87.6B
- Last report
- Q3 '26 filed 2026-07-30
- Next report
- 2026-11-05 EPS est. $3.61
At the end of Q3 '26 Air Products and Chemicals, Inc. (APD) held $981M in cash and short-term investments against $18.2B of debt incl. leases. Total assets $40.4B, total liabilities $23.8B, shareholders' equity $13.9B.
Balance sheet
| Balance sheet | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||
| Cash & equivalents | $1.62B | $1.96B | $2.54B | $2.38B | $2.98B | $1.85B | $1.49B | $2.32B | $1.86B | $1.03B | $951M | $981M | |
| Short-term investments | $332M | $272M | $103M | $61.8M | $5M | $118M | $111M | $0 | $0 | $0 | $0 | $0 | |
| Receivables | $2.16B | $2.5B | $2.44B | $2.31B | $2.17B | $2.45B | $2.55B | $2.79B | $2.51B | $2.65B | $2.66B | $2.6B | |
| Inventory | $652M | $709M | $721M | $756M | $766M | $739M | $770M | $798M | $777M | $788M | $768M | $752M | |
| Other current assets | $260M | $0 | $0 | $0 | $264M | $0 | $0 | $0 | $505M | $473M | $467M | $476M | |
| Current assets | $5.2B | $5.65B | $6.06B | $5.68B | $6.36B | $5.35B | $5.19B | $6.15B | $5.83B | $5.1B | $5.01B | $4.96B | |
| Property, plant & equipment (net) | $18.4B | $19.9B | $21B | $22.5B | $24.4B | $25.7B | $25B | $26.6B | $26.3B | $27.1B | $27.6B | $25.8B | |
| Long-term investments | $4.68B | $4.69B | $4.94B | $4.71B | $4.86B | $4.77B | $5.13B | $5.23B | $5.38B | $5.44B | $6.66B | $5.58B | |
| Goodwill | $862M | $899M | $883M | $879M | $905M | $867M | $887M | $970M | $964M | $972M | $959M | $957M | |
| Intangible assets | $335M | $339M | $318M | $311M | $312M | $288M | $282M | $302M | $294M | $294M | $284M | $278M | |
| Deferred tax assets | $160M | $1.25B | $1.28B | $1.18B | $128M | $0 | $0 | $0 | $128M | $0 | $0 | $4M | |
| Other non-current assets | $2.32B | $1.38B | $1.44B | $1.75B | $2.59B | $2.99B | $2.38B | $2.39B | $2.18B | $2.36B | $1.12B | $2.88B | |
| Non-current assets | $26.8B | $28.5B | $29.9B | $31.3B | $33.2B | $34.7B | $33.7B | $35.5B | $35.2B | $36.1B | $36.6B | $35.5B | |
| Total assets | $32B | $34.1B | $35.9B | $37B | $39.6B | $40B | $38.9B | $41.7B | $41.1B | $41.2B | $41.6B | $40.4B | |
| Liabilities | |||||||||||||
| Accounts payable | $1.21B | $2.29B | $2.32B | $2.72B | $1.45B | $2.66B | $3.42B | $3.06B | $1.44B | $2.48B | $2.38B | $2.47B | |
| Accrued expenses | $294M | $0 | $0 | $0 | $685M | $0 | $0 | $0 | $319M | $0 | $0 | $0 | |
| Short-term debt | $875M | $234M | $1.12B | $1.15B | $695M | $1.2B | $1.6B | $1.24B | $843M | $237M | $488M | $896M | |
| Taxes payable | $131M | $167M | $156M | $156M | $559M | $586M | $183M | $156M | $179M | $175M | $119M | $98M | |
| Deferred revenue | $413M | $386M | $396M | $366M | $240M | $203M | $0 | $233M | $253M | $250M | $248M | $219M | |
| Other current liabilities | $876M | $42.9M | $70.9M | $84.3M | $55.9M | $162M | $0 | $71.2M | $1.19B | $359M | $278M | $893M | |
| Current liabilities | $3.9B | $3.12B | $4.06B | $4.47B | $4.18B | $4.81B | $5.21B | $4.76B | $4.22B | $3.5B | $3.51B | $4.58B | |
| Long-term debt | $9.43B | $11.9B | $12.5B | $12.9B | $13.5B | $13.3B | $14.3B | $16.5B | $16.9B | $17.3B | $17.3B | $16.8B | |
| Lease obligations (non-current) | $631M | $635M | $652M | $639M | $678M | $655M | $637M | $647M | $616M | $607M | $600M | $490M | |
| Deferred revenue (non-current) | $137M | $131M | $133M | $132M | $290M | $283M | $0 | $287M | $284M | $0 | $284M | $279M | |
| Deferred tax liabilities | $1.27B | $1.25B | $1.28B | $1.18B | $1.16B | $1.2B | $670M | $674M | $580M | $662M | $733M | $638M | |
| Other non-current liabilities | $981M | $981M | $959M | $977M | $1.06B | $1.06B | $1.32B | $1.06B | $1.06B | $1.34B | $1.09B | $1.1B | |
| Non-current liabilities | $12.4B | $14.9B | $15.5B | $15.8B | $16.7B | $16.5B | $16.9B | $19.1B | $19.5B | $19.9B | $20B | $19.3B | |
| Total liabilities | $16.3B | $18B | $19.6B | $20.3B | $20.9B | $21.3B | $22.1B | $23.9B | $23.7B | $23.4B | $23.5B | $23.8B | |
| Equity | |||||||||||||
| Common stock & paid-in capital | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | |
| Retained earnings | $17.3B | $17.5B | $17.7B | $18B | $19.5B | $19.8B | $17.6B | $18B | $17.6B | $17.8B | $17.8B | $16.3B | |
| Accumulated other comprehensive income | -$2.45B | -$2.12B | -$2.28B | -$2.39B | -$2.03B | -$2.59B | -$2.48B | -$1.97B | -$2.09B | -$1.98B | -$1.74B | -$1.99B | |
| Shareholders' equity | $14.3B | $14.9B | $14.9B | $15.1B | $17B | $16.7B | $14.7B | $15.5B | $15B | $15.4B | $15.6B | $13.9B | |
| Debt | |||||||||||||
| Total debt (incl. leases) | $11B | $12.7B | $14.3B | $14.7B | $15B | $15.1B | $16.5B | $18.3B | $18.4B | $18.1B | $18.4B | $18.2B | |
| Net debt (debt - cash) | $9.41B | $10.8B | $11.7B | $12.3B | $12B | $13.3B | $15B | $16B | $16.6B | $17.1B | $17.4B | $17.2B | |
| Balance sheet | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & equivalents | $1.29B | $3.27B | $2.79B | $2.25B | $5.25B | $4.47B | $2.71B | $1.62B | $2.98B | $1.86B | |
| Short-term investments | $0 | $404M | $185M | $166M | $1.1B | $1.33B | $591M | $332M | $5M | $0 | |
| Receivables | $1.48B | $1.54B | $1.38B | $1.42B | $1.42B | $1.66B | $2.04B | $2.16B | $2.17B | $2.51B | |
| Inventory | $255M | $335M | $396M | $388M | $405M | $454M | $514M | $652M | $766M | $777M | |
| Other current assets | $1.19B | $132M | $204M | $323M | $340M | $347M | $275M | $260M | $264M | $505M | |
| Current assets | $4.32B | $5.88B | $5.08B | $4.62B | $8.68B | $8.38B | $6.28B | $5.2B | $6.36B | $5.83B | |
| Property, plant & equipment (net) | $8.26B | $8.44B | $9.92B | $10.3B | $12.3B | $13.8B | $14.9B | $18.4B | $24.4B | $26.3B | |
| Long-term investments | $1.28B | $1.29B | $1.28B | $1.28B | $1.43B | $1.65B | $3.42B | $4.68B | $4.79B | $5.38B | |
| Goodwill | $845M | $722M | $789M | $797M | $892M | $912M | $823M | $862M | $905M | $964M | |
| Intangible assets | $388M | $368M | $439M | $420M | $436M | $421M | $348M | $335M | $312M | $294M | |
| Deferred tax assets | $185M | $175M | $121M | $115M | $115M | $100M | $136M | $160M | $128M | $128M | |
| Other non-current assets | $2.75B | $1.6B | $1.55B | $1.38B | $1.27B | $1.58B | $1.33B | $2.32B | $2.66B | $2.18B | |
| Non-current assets | $13.7B | $12.6B | $14.1B | $14.3B | $16.5B | $18.5B | $20.9B | $26.8B | $33.2B | $35.2B | |
| Total assets | $18B | $18.5B | $19.2B | $18.9B | $25.2B | $26.9B | $27.2B | $32B | $39.6B | $41.1B | |
| Liabilities | |||||||||||
| Accounts payable | $579M | $660M | $595M | $528M | $546M | $737M | $1.12B | $1.21B | $1.45B | $1.44B | |
| Accrued expenses | $406M | $210M | $236M | $212M | $215M | $247M | $260M | $294M | $685M | $319M | |
| Short-term debt | $1.3B | $560M | $461M | $98.6M | $478M | $487M | $559M | $875M | $695M | $843M | |
| Taxes payable | $118M | $98.6M | $59.6M | $86.6M | $106M | $93.9M | $135M | $131M | $559M | $179M | |
| Deferred revenue | $371M | $439M | $157M | $247M | $314M | $367M | $439M | $413M | $240M | $253M | |
| Other current liabilities | $508M | $522M | $831M | $657M | $688M | $789M | $862M | $876M | $55.9M | $1.1B | |
| Current liabilities | $3.28B | $2.49B | $2.34B | $1.82B | $2.42B | $2.8B | $3.47B | $3.9B | $4.18B | $4.22B | |
| Long-term debt | $3.91B | $3.4B | $3.35B | $3.23B | $7.43B | $7.15B | $7.09B | $9.43B | $13.5B | $16.9B | |
| Lease obligations (non-current) | $0 | $0 | $10.5M | $10.1M | $336M | $503M | $592M | $631M | $678M | $616M | |
| Deferred revenue (non-current) | $43.8M | $39M | $58.2M | $49.2M | $57.9M | $58.4M | $67.2M | $137M | $290M | $284M | |
| Deferred tax liabilities | $710M | $778M | $775M | $794M | $963M | $1.18B | $1.25B | $1.27B | $1.16B | $580M | |
| Other non-current liabilities | $2.87B | $1.57B | $1.47B | $1.65B | $1.52B | $1.08B | $1.03B | $981M | $1.06B | $1.06B | |
| Non-current liabilities | $7.53B | $5.79B | $5.66B | $5.73B | $10.3B | $9.97B | $10B | $12.4B | $16.7B | $19.5B | |
| Total liabilities | $10.8B | $8.28B | $8B | $7.55B | $12.7B | $12.8B | $13.5B | $16.3B | $20.9B | $23.7B | |
| Equity | |||||||||||
| Common stock & paid-in capital | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | $249M | |
| Retained earnings | $10.5B | $12.8B | $13.4B | $14.1B | $14.9B | $15.7B | $16.5B | $17.3B | $19.5B | $17.6B | |
| Accumulated other comprehensive income | -$2.39B | -$1.85B | -$1.74B | -$2.38B | -$2.14B | -$1.52B | -$2.79B | -$2.45B | -$2.03B | -$2.09B | |
| Shareholders' equity | $7.08B | $10.1B | $10.9B | $11.1B | $12.1B | $13.5B | $13.1B | $14.3B | $17B | $15B | |
| Debt | |||||||||||
| Total debt (incl. leases) | $5.21B | $3.96B | $3.81B | $3.33B | $8.31B | $8.22B | $8.33B | $11B | $15B | $18.4B | |
| Net debt (debt - cash) | $3.92B | $689M | $1.02B | $1.08B | $3.06B | $3.75B | $5.62B | $9.41B | $12B | $16.6B | |
Standardised by Financial Modeling Prep from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Cash, investments and debt
quarter endsThe other statements
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-K 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-K 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-01