AIR PRODUCTS & CHEMICALS INC (AP3.DE) Stock Fundamental Analysis
Europe - FRA:AP3 - US0091581068 - Common Stock
240.2 EUR
-10.3 (-4.11%)
Taking everything into account, AP3 scores 4 out of 10 in our fundamental rating. AP3 was compared to 66 industry peers in the Chemicals industry. While AP3 has a great profitability rating, there are quite some concerns on its financial health. AP3 is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
AP3 had positive earnings in the past year.
In the past year AP3 had a positive cash flow from operations.
AP3 had positive earnings in each of the past 5 years.
In the past 5 years AP3 always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.72%, AP3 is in the better half of the industry, outperforming 68.18% of the companies in the same industry.
AP3 has a better Return On Equity (9.98%) than 74.24% of its industry peers.
AP3's Return On Invested Capital of 6.24% is fine compared to the rest of the industry. AP3 outperforms 66.67% of its industry peers.
AP3 had an Average Return On Invested Capital over the past 3 years of 7.56%. This is in line with the industry average of 6.62%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.72% | ||
| ROE | 9.98% | ||
| ROIC | 6.24% |
ROA(3y)8.39%
ROA(5y)8.09%
ROE(3y)18.57%
ROE(5y)17.37%
ROIC(3y)7.56%
ROIC(5y)7.62%
1.3 Margins
AP3 has a better Profit Margin (12.86%) than 95.45% of its industry peers.
AP3's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 24.01%, AP3 belongs to the top of the industry, outperforming 96.97% 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.
The Gross Margin of AP3 (31.87%) is comparable to the rest of the industry.
In the last couple of years the Gross Margin of AP3 has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 24.01% | ||
| PM (TTM) | 12.86% | ||
| GM | 31.87% |
OM growth 3Y3.42%
OM growth 5Y-0.02%
PM growth 3Y15.88%
PM growth 5Y9.9%
GM growth 3Y2.26%
GM growth 5Y-0.31%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so AP3 is destroying value.
Compared to 1 year ago, AP3 has about the same amount of shares outstanding.
Compared to 5 years ago, AP3 has more shares outstanding
AP3 has a worse debt/assets ratio than last year.
2.2 Solvency
AP3 has an Altman-Z score of 2.67. 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.
With a decent Altman-Z score value of 2.67, AP3 is doing good in the industry, outperforming 63.64% of the companies in the same industry.
A Debt/Equity ratio of 1.09 is on the high side and indicates that AP3 has dependencies on debt financing.
The Debt to Equity ratio of AP3 (1.09) is worse than 78.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.09 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.67 |
ROIC/WACC0.76
WACC8.25%
2.3 Liquidity
A Current Ratio of 1.29 indicates that AP3 should not have too much problems paying its short term obligations.
The Current ratio of AP3 (1.29) is worse than 77.27% of its industry peers.
A Quick Ratio of 1.12 indicates that AP3 should not have too much problems paying its short term obligations.
AP3 has a Quick ratio of 1.12. This is comparable to the rest of the industry: AP3 outperforms 50.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.29 | ||
| Quick Ratio | 1.12 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 1.50% over the past year.
AP3 shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.62% yearly.
Looking at the last year, AP3 shows a decrease in Revenue. The Revenue has decreased by -0.38% in the last year.
Measured over the past years, AP3 shows a small growth in Revenue. The Revenue has been growing by 6.29% on average per year.
EPS 1Y (TTM)1.5%
EPS 3Y11.28%
EPS 5Y8.62%
EPS Q2Q%-3.44%
Revenue 1Y (TTM)-0.38%
Revenue growth 3Y5.44%
Revenue growth 5Y6.29%
Sales Q2Q%1.25%
3.2 Future
AP3 is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.37% yearly.
The Revenue is expected to grow by 5.98% on average over the next years.
EPS Next Y-2.39%
EPS Next 2Y2.49%
EPS Next 3Y4.56%
EPS Next 5Y6.37%
Revenue Next Year-0.99%
Revenue Next 2Y1.76%
Revenue Next 3Y3.06%
Revenue Next 5Y5.98%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 23.16, the valuation of AP3 can be described as rather expensive.
The rest of the industry has a similar Price/Earnings ratio as AP3.
AP3 is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.20, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 21.65, which indicates a rather expensive current valuation of AP3.
The rest of the industry has a similar Price/Forward Earnings ratio as AP3.
AP3's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.71.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.16 | ||
| Fwd PE | 21.65 |
4.2 Price Multiples
AP3's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. AP3 is more expensive than 68.18% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 18.17 |
4.3 Compensation for Growth
The decent profitability rating of AP3 may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.69
EPS Next 2Y2.49%
EPS Next 3Y4.56%
5. Dividend
5.1 Amount
AP3 has a Yearly Dividend Yield of 2.43%.
AP3's Dividend Yield is a higher than the industry average which is at 3.04.
AP3's Dividend Yield is comparable with the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.43% |
5.2 History
On average, the dividend of AP3 grows each year by 9.29%, which is quite nice.
Dividend Growth(5Y)9.29%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
101.85% of the earnings are spent on dividend by AP3. This is not a sustainable payout ratio.
The dividend of AP3 is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP101.85%
EPS Next 2Y2.49%
EPS Next 3Y4.56%
FRA:AP3 (9/16/2025, 7:00:00 PM)
240.2
-10.3 (-4.11%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)
Earnings (Next)
Inst Owners93.13%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap53.46B
Analysts74.48
Price Target282.08 (17.44%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.43% |
Yearly Dividend6.01
Dividend Growth(5Y)9.29%
DP101.85%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.82%
Min EPS beat(2)-5.81%
Max EPS beat(2)2.18%
EPS beat(4)2
Avg EPS beat(4)-0.74%
Min EPS beat(4)-5.81%
Max EPS beat(4)2.18%
EPS beat(8)5
Avg EPS beat(8)-0.1%
EPS beat(12)8
Avg EPS beat(12)0.28%
EPS beat(16)9
Avg EPS beat(16)0.14%
Revenue beat(2)1
Avg Revenue beat(2)-0.35%
Min Revenue beat(2)-1.31%
Max Revenue beat(2)0.62%
Revenue beat(4)1
Avg Revenue beat(4)-0.93%
Min Revenue beat(4)-1.8%
Max Revenue beat(4)0.62%
Revenue beat(8)1
Avg Revenue beat(8)-2.97%
Revenue beat(12)3
Avg Revenue beat(12)-1.98%
Revenue beat(16)6
Avg Revenue beat(16)-0.52%
PT rev (1m)-0.6%
PT rev (3m)-1.56%
EPS NQ rev (1m)0.12%
EPS NQ rev (3m)-2.59%
EPS NY rev (1m)0.12%
EPS NY rev (3m)0.36%
Revenue NQ rev (1m)0.16%
Revenue NQ rev (3m)-0.37%
Revenue NY rev (1m)0.3%
Revenue NY rev (3m)0.38%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.16 | ||
| Fwd PE | 21.65 | ||
| P/S | 5.22 | ||
| P/FCF | N/A | ||
| P/OCF | 21.3 | ||
| P/B | 4.05 | ||
| P/tB | 4.41 | ||
| EV/EBITDA | 18.17 |
EPS(TTM)10.37
EY4.32%
EPS(NY)11.1
Fwd EY4.62%
FCF(TTM)-17.67
FCFYN/A
OCF(TTM)11.28
OCFY4.69%
SpS46.05
BVpS59.34
TBVpS54.48
PEG (NY)N/A
PEG (5Y)2.69
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.72% | ||
| ROE | 9.98% | ||
| ROCE | 7.84% | ||
| ROIC | 6.24% | ||
| ROICexc | 6.65% | ||
| ROICexgc | 6.9% | ||
| OM | 24.01% | ||
| PM (TTM) | 12.86% | ||
| GM | 31.87% | ||
| FCFM | N/A |
ROA(3y)8.39%
ROA(5y)8.09%
ROE(3y)18.57%
ROE(5y)17.37%
ROIC(3y)7.56%
ROIC(5y)7.62%
ROICexc(3y)8.39%
ROICexc(5y)9.21%
ROICexgc(3y)8.81%
ROICexgc(5y)9.81%
ROCE(3y)9.41%
ROCE(5y)9.47%
ROICexcg growth 3Y-11.13%
ROICexcg growth 5Y-10.1%
ROICexc growth 3Y-10.01%
ROICexc growth 5Y-9.24%
OM growth 3Y3.42%
OM growth 5Y-0.02%
PM growth 3Y15.88%
PM growth 5Y9.9%
GM growth 3Y2.26%
GM growth 5Y-0.31%
F-Score5
Asset Turnover0.29
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.09 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 3.84 | ||
| Cap/Depr | 494.72% | ||
| Cap/Sales | 62.86% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 66.7% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.29 | ||
| Quick Ratio | 1.12 | ||
| Altman-Z | 2.67 |
F-Score5
WACC8.25%
ROIC/WACC0.76
Cap/Depr(3y)342.56%
Cap/Depr(5y)285.18%
Cap/Sales(3y)38.64%
Cap/Sales(5y)33.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.5%
EPS 3Y11.28%
EPS 5Y8.62%
EPS Q2Q%-3.44%
EPS Next Y-2.39%
EPS Next 2Y2.49%
EPS Next 3Y4.56%
EPS Next 5Y6.37%
Revenue 1Y (TTM)-0.38%
Revenue growth 3Y5.44%
Revenue growth 5Y6.29%
Sales Q2Q%1.25%
Revenue Next Year-0.99%
Revenue Next 2Y1.76%
Revenue Next 3Y3.06%
Revenue Next 5Y5.98%
EBIT growth 1Y2.3%
EBIT growth 3Y9.05%
EBIT growth 5Y6.27%
EBIT Next Year69.55%
EBIT Next 3Y25.04%
EBIT Next 5Y18.31%
FCF growth 1Y-533.47%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-8.32%
OCF growth 3Y2.95%
OCF growth 5Y4.19%