Air Products and Chemicals, Inc. Financial Ratios — APD

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Return on Common Equity (%)	21.59	19.02	14.71	13.77	17.49	8.81	34.96	14.3	16.06	16.31	16.39	16.91	16.75	24.42	-2.46
Return on Assets (%)	8.81	7.47	5.72	5.57	7.28	3.57	16.44	7.96	9.23	8.55	8.07	8.35	7.77	10.7	-0.98
Return on Capital (%)	12.54	11.05	8.39	7.98	9.79	5.32	23.17	10.7	12.25	10.88	10.21	10.6	9.87	13.15	- -
Return on Invested Capital (%)	11.44	10.53	9.28	8.82	7.82	9	10.88	9.93	11.5	10.09	8.56	8.87	9.05	7.77	- -
Gross Margin (%)	26.62	26.63	26.6	26.91	28.45	31	29.75	30.69	33	33.85	30.39	26.46	29.9	32.49	31.41
EBITDA Margin (%)	24.59	24.55	23.97	24.95	28.67	32.88	32.39	32.88	36.47	38.65	34.77	29.54	32.52	36.35	37
Operating Margin (%)	15.97	15.8	15.06	15.78	17.7	21.49	21.81	22.01	24.33	25.27	21.97	19	21.74	24.36	24
Incremental Operating Margin (%)	19.99	42.1	2.46	44.43	10.05	-70.96	25.37	24.19	-1,807.08	-108.31	2.06	6.09	-331.34	-41.71	92.42
Pretax Margin (%)	15.99	13.66	13.26	13.08	16.18	20.72	17.3	22.56	25.67	27.37	24.29	21.69	22.88	39.84	-3.66
Profit Margin (%)	12.65	12.14	9.77	9.5	16.33	8.41	36.65	16.77	19.73	21.3	20.33	17.77	18.26	31.64	-3.28
Net Income to Common Margin (%)	12.65	12.14	9.77	9.5	16.33	8.41	36.65	16.77	19.73	21.3	20.33	17.77	18.26	31.64	-3.28
Effective Tax Rate (%)	24.26	21.89	22.8	27.05	23.71	27.83	18.42	26.02	20.97	19.74	18.46	18.18	19.12	19.6	- -
Dvd Payout Ratio (%)	37.78	48.98	52.33	62.93	67.37	62.58	67	58.84	53.48	55.46	60.99	61.09	63.16	40.02	-517.17
Sustainable Growth Rate (%)	13.43	9.7	7.01	5.1	5.71	3.3	11.54	5.89	7.47	7.26	6.39	6.58	6.17	14.65	-15.19

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Total Debt	4,562	5,292	6,274	6,118	5,879	5,211	3,963	3,813	3,326	8,314	8,219	8,327	11,032	15,006	18,406
ST Debt	634	708	1,217	1,294	1,930	1,301	560	461	99	548	566	649	969	795	843
LT Debt	3,928	4,584	5,056	4,824	3,949	3,910	3,402	3,352	3,227	7,766	7,654	7,678	10,062	14,211	17,563
Total Debt/EBITDA	1.92	2.24	2.57	2.35	2.62	2.11	1.49	1.3	1.02	2.43	2.29	2.22	2.69	3.41	4.13
Net Debt/EBITDA	1.74	2.05	2.39	2.22	2.53	1.59	0.26	0.35	0.33	0.78	0.88	1.32	2.12	2.56	3.56
Total Debt/EBIT	2.95	3.48	4.09	3.71	4.24	3.23	2.22	1.94	1.53	3.72	3.62	3.45	4.03	5.09	6.37
Net Debt/EBIT	2.68	3.19	3.8	3.51	4.1	2.43	0.39	0.52	0.5	1.19	1.4	2.05	3.17	3.82	5.48
EBITDA to Interest Expense	20.6	19.08	17.21	20.82	21.82	21.42	21.99	22.5	23.74	31.31	25.31	29.3	23.08	20.1	20.81
EBITDA-CapEx/Interest Expense	9.26	6.78	6.46	9.93	10.52	13.54	13.37	10.48	9.22	8.36	7.93	6.44	-2.98	-10.96	-12.01
EBIT to Interest Expense	13.38	12.28	10.81	13.17	13.47	14	14.81	15.06	15.84	20.47	15.99	18.85	15.43	13.47	13.5
Interest Expense	116	124	142	125	103	115	121	130	137	109	142	128	178	219	214
Common Equity/Total Assets	40.56	38.23	39.45	41.43	41.82	39.27	54.62	56.61	58.35	48	50.41	48.34	44.72	43.05	36.59
Long-Term Debt/Equity (%)	66.13	69.21	70.24	64.14	53.5	54.2	33.4	29.99	28.34	62.41	54.33	56.03	64.25	76.1	101.23
Long-Term Debt/Capital (%)	37.4	38.47	37.53	35.37	29.78	31.47	24.05	22.36	21.93	37.41	34.31	34.85	37.7	42.19	49.12
Long-Term Debt/Total Assets (%)	27.48	27.06	28.33	27.14	22.78	21.69	18.42	17.48	17.04	30.86	28.5	28.24	31.44	35.91	42.78
Total Debt/Equity (%)	76.81	79.9	87.15	81.35	79.65	72.24	38.91	34.11	29.21	66.82	58.34	60.77	70.44	80.36	106.09
Total Debt/Capital (%)	43.44	44.41	46.57	44.86	44.34	41.94	28.01	25.44	22.6	40.05	36.85	37.8	41.33	44.56	51.48
Total Debt/Total Assets (%)	31.92	31.24	35.15	34.41	33.92	28.9	21.46	19.88	17.56	33.03	30.6	30.62	34.47	37.92	44.83
Net Debt to Equity	69.71	73.04	80.89	76.87	76.85	54.31	6.77	9.14	9.46	21.34	22.49	36.01	55.48	60.24	91.31
Net Debt/Capital (%)	41.08	42.21	44.72	43.46	43.46	35.2	6.34	8.37	8.64	17.12	17.76	25.54	34.65	36.64	46.73
EBITDA	2,379	2,360	2,440	2,605	2,244	2,467	2,652	2,936	3,253	3,423	3,589	3,751	4,098	4,399	4,453
EBITDA-CapEx	1,070	839	916	1,242	1,081	1,559	1,612	1,368	1,263	914	1,125	824	-529	-2,398	-2,569
Operating Income (Loss)	1,545	1,519	1,533	1,648	1,385	1,612	1,786	1,966	2,170	2,238	2,268	2,412	2,739	2,948	2,889

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Cash Ratio	0.18	0.17	0.14	0.11	0.06	0.39	1.48	1.27	1.33	2.63	2.07	0.95	0.5	0.71	0.44
Current Ratio	1.36	1.27	1.07	1.11	0.77	1.32	2.36	2.17	2.54	3.59	2.99	1.81	1.33	1.52	1.38
Quick Ratio	0.88	0.88	0.75	0.76	0.54	0.84	2.1	1.86	2.1	3.22	2.66	1.54	1.06	1.23	1
CFO/Avg Current Liab	0.76	0.71	0.53	0.71	0.75	0.77	0.54	1.05	1.43	1.54	1.28	1.03	0.87	0.9	0.78
Common Equity/Total Assets	40.56	38.23	39.45	41.43	41.82	39.27	54.62	56.61	58.35	48	50.41	48.34	44.72	43.05	36.59
Long-Term Debt/Equity (%)	66.13	69.21	70.24	64.14	53.5	54.2	33.4	29.99	28.34	62.41	54.33	56.03	64.25	76.1	101.23
Long-Term Debt/Capital (%)	37.4	38.47	37.53	35.37	29.78	31.47	24.05	22.36	21.93	37.41	34.31	34.85	37.7	42.19	49.12
Long-Term Debt/Total Assets (%)	27.48	27.06	28.33	27.14	22.78	21.69	18.42	17.48	17.04	30.86	28.5	28.24	31.44	35.91	42.78
Total Debt/Equity (%)	76.81	79.9	87.15	81.35	79.65	72.24	38.91	34.11	29.21	66.82	58.34	60.77	70.44	80.36	106.09
Total Debt/Capital (%)	43.44	44.41	46.57	44.86	44.34	41.94	28.01	25.44	22.6	40.05	36.85	37.8	41.33	44.56	51.48
Total Debt/Total Assets (%)	31.92	31.24	35.15	34.41	33.92	28.9	21.46	19.88	17.56	33.03	30.6	30.62	34.47	37.92	44.83
CFO/Total Liabilities	20.99	17.43	14.72	21.32	24.81	24.6	18.86	31.67	39.31	25.65	26.17	23.94	19.62	17.45	13.74
CFO/CapEx	1.34	1.18	1.03	1.6	2.12	2.93	1.5	1.62	1.49	1.3	1.36	1.1	0.69	0.54	0.46
Altman's Z-Score	3.17	2.89	3.05	3.4	3.2	3.39	4.47	4.84	6.1	4.97	4.48	4.11	3.85	3.25	2.74

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Accounts Receivable Turnover	6.8	6.61	6.59	6.89	5.41	5.88	7.06	7.5	7.23	6.99	7.57	7.82	7.21	6.87	6.47
Days Sales Outstanding	53.64	55.18	55.38	52.98	67.46	62.08	51.72	48.66	50.49	52.24	48.19	46.65	50.62	53.12	56.44
Inventory Turnover	11.43	9.68	10.01	10.81	8.21	11.34	19.48	16.92	15.24	14.77	16.74	19.29	15.15	11.52	10.7
Days Inventory Outstanding	31.93	37.7	36.46	33.78	44.46	32.18	18.73	21.57	23.96	24.71	21.81	18.92	24.09	31.68	34.1
Accounts Payable Turnover	5.77	7.97	7.28	8.64	8.15	7.95	9.42	9.97	10.63	10.94	11.28	10.12	7.69	6.22	5.72
Accounts Payable Turnover Days	63.28	45.79	50.13	42.24	44.8	45.9	38.75	36.62	34.34	33.38	32.36	36.07	47.48	58.71	63.77
Cash Conversion Cycle	22.29	47.1	41.7	44.51	67.12	48.36	31.7	33.61	40.11	43.57	37.64	29.5	27.23	26.09	26.77
Inventory to Cash Days	21.72	17.48	18.92	19.2	23	29.9	32.98	27.09	26.53	27.53	26.39	27.73	26.53	21.44	22.34
Inventories	670	787	706	706	658	255	335	396	388	405	454	514	652	766	776
Raw Materials	259	220	235	283	229	117	223	250	232	249	279	330	412	514	542
Work In Process	30	37	39	34	34	18	16	21	28	21	24	22	28	42	42
Finished Goods	477	618	527	494	495	131	120	125	129	134	151	162	212	210	192
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Market Capitalization	14,839	16,246	20,805	25,699	25,402	30,210	33,018	36,670	48,901	65,832	56,702	51,629	62,971	66,209	60,704
- Cash & Cash Equivalents	421	454	450	337	206	1,293	3,274	2,791	2,249	5,253	4,469	2,711	1,617	2,980	1,856
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	143	146	157	156	132	134	99	319	335	363	548	558	1,347	1,637	2,325
+ Total Debt	4,562	5,292	6,274	6,118	5,879	5,211	3,963	3,813	3,326	8,314	8,219	8,327	11,032	15,006	18,406
Enterprise Value	19,122	21,230	26,785	31,637	31,206	34,261	33,403	37,825	50,147	68,152	59,669	57,212	73,401	79,868	79,579
Total Capital	10,500	11,915	13,472	13,640	13,260	12,424	14,148	14,989	14,714	20,757	22,307	22,029	26,692	33,680	35,756
Total Debt/Capital (%)	43.44	44.41	46.57	44.86	44.34	41.94	28.01	25.44	22.6	40.05	36.85	37.8	41.33	44.56	51.48
Total Debt / EV	0.24	0.25	0.23	0.19	0.19	0.15	0.12	0.1	0.07	0.12	0.14	0.15	0.15	0.19	0.23
EV/Sales	1.98	2.21	2.63	3.03	3.99	4.57	4.08	4.24	5.62	7.7	5.78	4.51	5.83	6.6	6.61
EV/EBITDA	8.04	9	10.98	12.15	13.91	13.89	12.6	12.88	15.42	19.91	16.62	15.25	17.91	18.16	17.87
EV/EBIT	12.38	13.98	17.47	19.2	22.53	21.25	18.7	19.24	23.11	30.46	26.31	23.71	26.8	27.1	27.55
EV/Cash Flow to Firm	10.39	11.2	15.97	13.89	12.25	12.49	20.12	14.38	16.29	20.33	17.26	17.16	21.91	20.89	23.23
EV/Free Cash Flow to Firm	6.07	6.21	8.37	8.69	8.41	9.38	12.37	9.01	9.9	11.63	10.08	9.14	9.2	7.52	7.62
Diluted Market Cap	15,363	16,416	20,916	25,899	25,631	30,342	33,238	36,885	49,164	66,214	56,984	51,782	63,113	66,336	60,735
Diluted Enterprise Value	19,646	21,400	26,896	31,837	31,435	34,393	34,027	38,225	50,576	69,639	61,283	57,957	73,875	80,000	79,610
EV per Share	90.98	99.91	126.84	148.16	144.9	157.63	152.98	172.31	227.51	308.36	269.51	257.9	330.34	359.16	357.52
TTM Sales	9,674	9,612	10,180	10,439	7,824	7,504	8,188	8,930	8,919	8,856	10,323	12,699	12,600	12,101	12,037
TTM EBITDA	2,379	2,360	2,440	2,605	2,244	2,467	2,652	2,936	3,253	3,423	3,589	3,751	4,098	4,399	4,453
TTM Operating Income	1,545	1,519	1,533	1,648	1,385	1,612	1,786	1,966	2,170	2,238	2,268	2,412	2,739	2,948	2,889
TTM Cash Flow to Firm	1,841	1,895	1,677	2,278	2,548	2,744	1,661	2,631	3,078	3,352	3,458	3,335	3,350	3,823	3,425
TTM Free Cash Flow to Firm	3,150	3,416	3,201	3,641	3,711	3,652	2,700	4,199	5,068	5,861	5,922	6,261	7,976	10,619	10,448

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	09/30/2011	09/30/2012	09/30/2013	09/30/2014	09/30/2015	09/30/2016	09/30/2017	09/30/2018	09/30/2019	09/30/2020	09/30/2021	09/30/2022	09/30/2023	09/30/2024	09/30/2025

Price/Free Cash Flow	5.02	4.95	6.77	7.3	7.06	8.5	12.77	8.99	9.91	11.47	9.81	8.41	8.06	6.35	5.91
EV/EBIT	12.38	13.98	17.47	19.2	22.53	21.25	18.7	19.24	23.11	30.46	26.31	23.71	26.8	27.1	27.55
Enterprise Value	19,122	21,230	26,785	31,637	31,206	34,261	33,403	37,825	50,147	68,152	59,669	57,212	73,401	79,868	79,579
Low Price	68.95	66.8	70.98	94.51	109.28	105.99	129	150.55	148.44	167.43	245.75	216.24	224.75	212.24	243.69
EV/Sales	1.98	2.21	2.63	3.03	3.99	4.57	4.08	4.24	5.62	7.7	5.78	4.51	5.83	6.6	6.61
EV/EBITDA	8.04	9	10.98	12.15	13.91	13.89	12.6	12.88	15.42	19.91	16.62	15.25	17.91	18.16	17.87
Price/Earnings	12.28	13.83	20.78	25.81	19.84	47.66	10.99	24.46	27.77	34.92	27.04	22.9	27.39	17.31	- -
Price/Earnings Average	14.15	14.14	17.73	23.62	22.19	44.47	10.35	23.81	23.9	28.44	29.66	25.63	27.83	15.22	-167.3
Price/Earnings High	15.77	15.52	22.38	27.25	24.6	50.03	11.06	25.65	29.1	36.43	34.62	31.13	31.75	17.55	-192.58
Price/Earnings Low	12	12.09	14.97	20.27	18.38	36.34	9.37	22.04	18.58	19.63	25.94	21.28	21.72	12.34	-137.57
Price/Book Value	2.56	2.51	2.95	3.49	3.5	4.27	3.27	3.38	4.42	5.45	4.19	3.93	4.4	3.89	4.04
Price/Book Value Average	2.95	2.56	2.52	3.19	3.92	3.98	3.08	3.29	3.81	4.44	4.59	4.4	4.47	3.42	4.39
Price/Book Value High	3.29	2.81	3.18	3.68	4.35	4.48	3.3	3.54	4.64	5.69	5.36	5.34	5.1	3.94	5.05
Price/Book Value Low	2.5	2.19	2.13	2.74	3.25	3.25	2.79	3.04	2.96	3.06	4.02	3.65	3.49	2.77	3.61
Price/Tangible Book Value	3.13	3.95	4.45	4.66	4.53	5.17	3.67	3.81	4.97	6.12	4.64	4.31	4.8	4.19	4.41
Price/Tangible Book Value Average	3.61	4.03	3.8	4.27	5.07	4.82	3.46	3.71	4.28	4.99	5.1	4.83	4.88	3.68	4.79
Price/Tangible Book Value High	4.02	4.43	4.8	4.92	5.62	5.42	3.7	3.99	5.21	6.39	5.95	5.86	5.57	4.25	5.52
Price/Tangible Book Value Low	3.06	3.45	3.21	3.66	4.2	3.94	3.13	3.43	3.33	3.44	4.46	4.01	3.81	2.98	3.94
Price/Sales	1.55	1.68	2.03	2.45	3.24	4.01	4.03	4.1	5.48	7.44	5.5	4.07	5	5.47	5.05
Price/Sales Average	1.79	1.72	1.73	2.24	3.62	3.74	3.79	3.99	4.72	6.06	6.03	4.55	5.08	4.82	5.48
Price/Sales High	2	1.88	2.19	2.59	4.02	4.21	4.05	4.3	5.74	7.76	7.04	5.53	5.8	5.55	6.31
Price/Sales Low	1.52	1.47	1.46	1.93	3	3.06	3.43	3.7	3.67	4.18	5.28	3.78	3.97	3.9	4.51
Price/Cash Flow	8.58	8.98	13.18	11.7	10.26	11.3	21.1	14.45	16.46	20.18	16.98	15.99	19.65	18.17	18.65
Price/Cash Flow Average	9.88	9.18	11.24	10.71	11.48	10.55	19.87	14.07	14.16	16.43	18.63	17.9	19.96	15.98	20.27
Price/Cash Flow High	11.01	10.07	14.19	12.36	12.73	11.87	21.25	15.16	17.24	21.05	21.74	21.74	22.78	18.43	23.33
Price/Cash Flow Low	8.38	7.84	9.5	9.19	9.51	8.62	18	13.03	11.01	11.34	16.3	14.86	15.58	12.95	16.66
Price/Free Cash Flow Average	5.78	5.06	5.77	6.68	7.89	7.93	12.03	8.75	8.53	9.34	10.77	9.41	8.19	5.59	6.42
Price/Free Cash Flow High	6.44	5.55	7.29	7.7	8.75	8.93	12.86	9.43	10.39	11.96	12.57	11.43	9.34	6.44	7.39
Price/Free Cash Flow Low	4.9	4.32	4.87	5.73	6.54	6.48	10.9	8.1	6.63	6.45	9.42	7.81	6.39	4.53	5.28
EV/Sales Average	2.21	2.25	2.33	2.82	4.37	4.3	3.89	4.15	4.88	6.44	6.44	5.04	5.93	5.94	7.05
EV/Sales High	2.41	2.41	2.79	3.17	4.77	4.77	4.16	4.46	5.9	8.14	7.45	6.01	6.65	6.68	7.88
EV/Sales Low	1.94	2	2.06	2.5	3.75	3.61	3.54	3.85	3.83	4.57	5.69	4.26	4.82	5.03	6.07
EV/EBITDA Average	8.98	9.15	9.73	11.31	15.25	13.07	12.02	12.61	13.37	16.66	18.53	17.05	18.24	16.35	19.05
EV/EBITDA High	9.8	9.84	11.63	12.7	16.63	14.5	12.83	13.55	16.19	21.07	21.42	20.36	20.44	18.38	21.29
EV/EBITDA Low	7.89	8.13	8.59	10.03	13.08	10.98	10.92	11.71	10.49	11.81	16.36	14.44	14.81	13.84	16.42
EV/EBIT Average	13.83	14.22	15.48	17.88	24.71	19.99	17.85	18.84	20.05	25.49	29.32	26.51	27.29	24.4	29.37
EV/EBIT High	15.1	15.28	18.52	20.07	26.93	22.18	19.06	20.24	24.27	32.22	33.91	31.65	30.58	27.42	32.82
EV/EBIT Low	12.15	12.63	13.68	15.85	21.18	16.8	16.21	17.49	15.73	18.07	25.89	22.44	22.16	20.65	25.31
Last Price	70.6	76.46	98.52	120.35	117.95	138.99	151.22	167.05	221.86	297.86	256.11	232.73	283.4	297.74	272.72
High Price	90.61	85.78	106.09	127.07	146.26	145.92	152.26	175.17	232.47	310.74	327.89	316.39	328.56	302.03	341.14
Enterprise Value Average	21,373	21,592	23,727	29,457	34,221	32,238	31,880	37,036	43,498	57,034	66,502	63,959	74,740	71,914	84,843
Enterprise Value High	23,328	23,210	28,384	33,072	37,303	35,767	34,034	39,793	52,652	72,104	76,892	76,362	83,768	80,827	94,809
Enterprise Value Low	18,775	19,177	20,970	26,119	29,339	27,089	28,955	34,388	34,130	40,430	58,707	54,145	60,701	60,860	73,118

Shares Outstanding	210	212	211	214	215	217	218	220	220	221	221	222	222	222	223
Diluted Weighted Avg Shares	218	215	212	215	217	218	220	221	222	222	222	222	223	223	223
Basic Weighted Avg Shares	213	211	210	213	215	216	218	219	220	221	222	222	222	222	223
Revenue per Share	45.42	45.51	48.55	49.08	36.41	34.68	37.56	40.72	40.49	40.04	46.58	57.2	56.68	54.38	54.05
EBITDA per Share	11.17	11.17	11.63	12.25	10.44	11.4	12.16	13.39	14.76	15.47	16.2	16.9	18.43	19.77	20
Operating Income per Share	7.25	7.19	7.31	7.75	6.44	7.45	8.19	8.96	9.85	10.12	10.23	10.87	12.32	13.25	12.97
Basic EPS, GAAP	5.75	5.53	4.74	4.66	5.95	2.92	13.76	6.83	7.99	8.53	9.47	10.16	10.35	17.21	-1.77
Basic EPS from Cont Ops	5.5	4.85	4.97	4.68	4.49	5.18	5.3	6.8	8.21	8.79	9.23	10.15	10.49	17.42	-1.56
Diluted EPS, GAAP	5.63	5.44	4.68	4.61	5.88	2.89	13.65	6.78	7.94	8.49	9.43	10.14	10.33	17.18	-1.77
Diluted EPS from Cont Ops	5.38	4.78	4.91	4.63	4.45	5.14	5.26	6.75	8.17	8.75	9.19	10.13	10.47	17.4	-1.56
Dividend per Share	2.14	2.44	2.7	2.95	3.15	3.33	3.61	4.09	4.51	4.99	5.67	6.23	6.73	7.03	7.11
Cash Flow per Share	8.23	8.52	7.47	10.28	11.49	12.3	7.17	11.56	13.48	14.76	15.08	14.55	14.42	16.39	14.62
Free Cash Flow per Basic Share	2.08	1.31	0.21	3.88	6.08	8.1	2.4	4.4	4.45	3.42	3.96	1.37	-6.39	-14.16	-16.91
Cash & Equivalents per Share	2	2.14	2.13	1.58	0.96	5.95	16.84	13.56	10.96	28.77	26.2	14.88	8.77	13.42	8.34
Book Value per Share	27.57	30.48	33.35	34.49	33.66	32.57	46.19	49.46	50.15	54.66	61.16	59.25	64.41	76.61	67.5
Tangible Book Value per Share	22.55	19.38	22.12	25.82	26.05	26.9	41.2	43.87	44.63	48.65	55.14	53.97	59.03	71.14	61.85

Air Products and Chemicals, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)