AIR PRODUCTS & CHEMICALS INC (AP3.DE) Fundamental Analysis & Valuation

FRA:AP3 • US0091581068

Current stock price

256 EUR
+5 (+1.99%)
Last:

This AP3.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

4

1. AP3.DE Profitability Analysis

1.1 Basic Checks

  • AP3 had positive earnings in the past year.
  • In the past year AP3 had a positive cash flow from operations.
  • Of the past 5 years AP3 4 years were profitable.
  • AP3 had a positive operating cash flow in each of the past 5 years.
AP3.DE Yearly Net Income VS EBIT VS OCF VS FCFAP3.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B

1.2 Ratios

  • AP3's Return On Assets of -0.81% is on the low side compared to the rest of the industry. AP3 is outperformed by 65.67% of its industry peers.
  • AP3's Return On Equity of -2.17% is on the low side compared to the rest of the industry. AP3 is outperformed by 67.16% of its industry peers.
  • With a decent Return On Invested Capital value of 6.25%, AP3 is doing good in the industry, outperforming 62.69% of the companies in the same industry.
  • AP3 had an Average Return On Invested Capital over the past 3 years of 6.89%. This is in line with the industry average of 6.88%.
Industry RankSector Rank
ROA -0.81%
ROE -2.17%
ROIC 6.25%
ROA(3y)5.3%
ROA(5y)6.4%
ROE(3y)11.97%
ROE(5y)13.72%
ROIC(3y)6.89%
ROIC(5y)7.28%
AP3.DE Yearly ROA, ROE, ROICAP3.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20

1.3 Margins

  • With an excellent Operating Margin value of 24.09%, AP3 belongs to the best of the industry, outperforming 97.01% of the companies in the same industry.
  • In the last couple of years the Operating Margin of AP3 has remained more or less at the same level.
  • AP3 has a Gross Margin (31.63%) which is comparable to the rest of the industry.
  • AP3's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 24.09%
PM (TTM) N/A
GM 31.63%
OM growth 3Y7.7%
OM growth 5Y-0.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.89%
GM growth 5Y-1.48%
AP3.DE Yearly Profit, Operating, Gross MarginsAP3.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

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3

2. AP3.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AP3 is destroying value.
  • The number of shares outstanding for AP3 remains at a similar level compared to 1 year ago.
  • Compared to 5 years ago, AP3 has more shares outstanding
  • Compared to 1 year ago, AP3 has a worse debt to assets ratio.
AP3.DE Yearly Shares OutstandingAP3.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
AP3.DE Yearly Total Debt VS Total AssetsAP3.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • AP3 has an Altman-Z score of 2.68. This is not the best score and indicates that AP3 is in the grey zone with still only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.68, AP3 is in the better half of the industry, outperforming 62.69% of the companies in the same industry.
  • A Debt/Equity ratio of 1.13 is on the high side and indicates that AP3 has dependencies on debt financing.
  • With a Debt to Equity ratio value of 1.13, AP3 is not doing good in the industry: 82.09% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Altman-Z 2.68
ROIC/WACC0.5
WACC12.62%
AP3.DE Yearly LT Debt VS Equity VS FCFAP3.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B

2.3 Liquidity

  • A Current Ratio of 1.46 indicates that AP3 should not have too much problems paying its short term obligations.
  • AP3's Current ratio of 1.46 is in line compared to the rest of the industry. AP3 outperforms 43.28% of its industry peers.
  • A Quick Ratio of 1.23 indicates that AP3 should not have too much problems paying its short term obligations.
  • AP3 has a Quick ratio of 1.23. This is in the better half of the industry: AP3 outperforms 61.19% of its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 1.23
AP3.DE Yearly Current Assets VS Current LiabilitesAP3.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. AP3.DE Growth Analysis

3.1 Past

  • AP3 shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.12%.
  • The Earnings Per Share has been growing slightly by 7.07% on average over the past years.
  • Looking at the last year, AP3 shows a small growth in Revenue. The Revenue has grown by 1.44% in the last year.
  • AP3 shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.33% yearly.
EPS 1Y (TTM)-1.12%
EPS 3Y4.94%
EPS 5Y7.07%
EPS Q2Q%10.49%
Revenue 1Y (TTM)1.44%
Revenue growth 3Y-1.77%
Revenue growth 5Y6.33%
Sales Q2Q%5.83%

3.2 Future

  • Based on estimates for the next years, AP3 will show a quite strong growth in Earnings Per Share. The EPS will grow by 9.04% on average per year.
  • Based on estimates for the next years, AP3 will show a small growth in Revenue. The Revenue will grow by 6.57% on average per year.
EPS Next Y9.68%
EPS Next 2Y8.66%
EPS Next 3Y8.66%
EPS Next 5Y9.04%
Revenue Next Year4.79%
Revenue Next 2Y5.43%
Revenue Next 3Y5.6%
Revenue Next 5Y6.57%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
AP3.DE Yearly Revenue VS EstimatesAP3.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
AP3.DE Yearly EPS VS EstimatesAP3.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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1

4. AP3.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 23.97, which indicates a rather expensive current valuation of AP3.
  • Compared to the rest of the industry, the Price/Earnings ratio of AP3 is on the same level as its industry peers.
  • When comparing the Price/Earnings ratio of AP3 to the average of the S&P500 Index (25.70), we can say AP3 is valued inline with the index average.
  • With a Price/Forward Earnings ratio of 20.81, AP3 is valued on the expensive side.
  • The rest of the industry has a similar Price/Forward Earnings ratio as AP3.
  • AP3 is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 23.84, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 23.97
Fwd PE 20.81
AP3.DE Price Earnings VS Forward Price EarningsAP3.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as AP3.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.96
AP3.DE Per share dataAP3.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates AP3 does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)2.48
PEG (5Y)3.39
EPS Next 2Y8.66%
EPS Next 3Y8.66%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. AP3.DE Dividend Analysis

5.1 Amount

  • AP3 has a Yearly Dividend Yield of 2.49%. Purely for dividend investing, there may be better candidates out there.
  • AP3's Dividend Yield is a higher than the industry average which is at 2.33.
  • AP3's Dividend Yield is a higher than the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.49%

5.2 History

  • The dividend of AP3 is nicely growing with an annual growth rate of 7.30%!
Dividend Growth(5Y)7.3%
Div Incr Years1
Div Non Decr Years1
AP3.DE Yearly Dividends per shareAP3.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • AP3 has negative earnings and hence a negative payout ratio. The dividend may be in danger.
  • The dividend of AP3 is growing, but earnings are growing more, so the dividend growth is sustainable.
DP-476.15%
EPS Next 2Y8.66%
EPS Next 3Y8.66%
AP3.DE Yearly Income VS Free CF VS DividendAP3.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B

More info and screens

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AP3.DE Fundamentals: All Metrics, Ratios and Statistics

AIR PRODUCTS & CHEMICALS INC

FRA:AP3 (3/13/2026, 7:00:00 PM)

256

+5 (+1.99%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-30
Earnings (Next)04-29
Inst Owners94.28%
Inst Owner ChangeN/A
Ins Owners1.88%
Ins Owner ChangeN/A
Market Cap57.00B
Revenue(TTM)12.21B
Net Income(TTM)-333.70M
Analysts74.48
Price Target261.35 (2.09%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.49%
Yearly Dividend6.2
Dividend Growth(5Y)7.3%
DP-476.15%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.95%
Min EPS beat(2)-0.83%
Max EPS beat(2)2.73%
EPS beat(4)2
Avg EPS beat(4)-0.43%
Min EPS beat(4)-5.81%
Max EPS beat(4)2.73%
EPS beat(8)5
Avg EPS beat(8)1.02%
EPS beat(12)8
Avg EPS beat(12)0.41%
EPS beat(16)10
Avg EPS beat(16)0.31%
Revenue beat(2)1
Avg Revenue beat(2)-0.31%
Min Revenue beat(2)-1.28%
Max Revenue beat(2)0.67%
Revenue beat(4)2
Avg Revenue beat(4)-0.33%
Min Revenue beat(4)-1.31%
Max Revenue beat(4)0.67%
Revenue beat(8)2
Avg Revenue beat(8)-1.47%
Revenue beat(12)3
Avg Revenue beat(12)-2.46%
Revenue beat(16)5
Avg Revenue beat(16)-1.4%
PT rev (1m)-0.28%
PT rev (3m)-2.28%
EPS NQ rev (1m)0.17%
EPS NQ rev (3m)1.06%
EPS NY rev (1m)0.27%
EPS NY rev (3m)0.56%
Revenue NQ rev (1m)0.29%
Revenue NQ rev (3m)0.91%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)0.78%
Valuation
Industry RankSector Rank
PE 23.97
Fwd PE 20.81
P/S 5.39
P/FCF N/A
P/OCF 19.67
P/B 4.27
P/tB 4.65
EV/EBITDA 17.96
EPS(TTM)10.68
EY4.17%
EPS(NY)12.3
Fwd EY4.8%
FCF(TTM)-10.93
FCFYN/A
OCF(TTM)13.01
OCFY5.08%
SpS47.48
BVpS59.94
TBVpS55.02
PEG (NY)2.48
PEG (5Y)3.39
Graham Number120.02
Profitability
Industry RankSector Rank
ROA -0.81%
ROE -2.17%
ROCE 7.79%
ROIC 6.25%
ROICexc 6.43%
ROICexgc 6.66%
OM 24.09%
PM (TTM) N/A
GM 31.63%
FCFM N/A
ROA(3y)5.3%
ROA(5y)6.4%
ROE(3y)11.97%
ROE(5y)13.72%
ROIC(3y)6.89%
ROIC(5y)7.28%
ROICexc(3y)7.39%
ROICexc(5y)8.33%
ROICexgc(3y)7.7%
ROICexgc(5y)8.79%
ROCE(3y)8.6%
ROCE(5y)9.08%
ROICexgc growth 3Y-12.25%
ROICexgc growth 5Y-10.36%
ROICexc growth 3Y-11.59%
ROICexc growth 5Y-9.49%
OM growth 3Y7.7%
OM growth 5Y-0.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.89%
GM growth 5Y-1.48%
F-Score3
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Debt/EBITDA 3.85
Cap/Depr 392.59%
Cap/Sales 50.43%
Interest Coverage 250
Cash Conversion 74.21%
Profit Quality N/A
Current Ratio 1.46
Quick Ratio 1.23
Altman-Z 2.68
F-Score3
WACC12.62%
ROIC/WACC0.5
Cap/Depr(3y)419.31%
Cap/Depr(5y)332.63%
Cap/Sales(3y)50.41%
Cap/Sales(5y)39.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.12%
EPS 3Y4.94%
EPS 5Y7.07%
EPS Q2Q%10.49%
EPS Next Y9.68%
EPS Next 2Y8.66%
EPS Next 3Y8.66%
EPS Next 5Y9.04%
Revenue 1Y (TTM)1.44%
Revenue growth 3Y-1.77%
Revenue growth 5Y6.33%
Sales Q2Q%5.83%
Revenue Next Year4.79%
Revenue Next 2Y5.43%
Revenue Next 3Y5.6%
Revenue Next 5Y6.57%
EBIT growth 1Y-0.19%
EBIT growth 3Y5.8%
EBIT growth 5Y5.33%
EBIT Next Year87.56%
EBIT Next 3Y28.59%
EBIT Next 5Y21.12%
FCF growth 1Y-32.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y7.46%
OCF growth 3Y0.27%
OCF growth 5Y-0.05%

AIR PRODUCTS & CHEMICALS INC / AP3.DE Fundamental Analysis FAQ

What is the ChartMill fundamental rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) stock?

ChartMill assigns a fundamental rating of 3 / 10 to AP3.DE.


What is the valuation status for AP3 stock?

ChartMill assigns a valuation rating of 1 / 10 to AIR PRODUCTS & CHEMICALS INC (AP3.DE). This can be considered as Overvalued.


How profitable is AIR PRODUCTS & CHEMICALS INC (AP3.DE) stock?

AIR PRODUCTS & CHEMICALS INC (AP3.DE) has a profitability rating of 4 / 10.


Can you provide the financial health for AP3 stock?

The financial health rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) is 3 / 10.


Is the dividend of AIR PRODUCTS & CHEMICALS INC sustainable?

The dividend rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) is 5 / 10 and the dividend payout ratio is -476.15%.