Air Products and Chemicals, Inc. (APD)

Air Products & Chemicals, Inc. (APD) stock has experienced a decline, falling by 4.49% over the last six months and 20.76% over the last year. As of October 22, 2025, the share price was $253.15, a decrease of 22.49% from $326.62 on October 23, 2024. The company's shares have tumbled 23.4% over the past year, trailing the S&P 500 Index's gains. Recent events impacting the stock include analyst ratings, with a consensus of "Moderate Buy" and an average price target of $321.52, indicating a potential 27% upside. A C-suite shakeup earlier in 2025 led to a strategic shift, with the company scaling back its clean hydrogen projects to refocus on its core industrial gas business. The company also divested its natural gas liquefaction business to Honeywell. Air Products is scheduled to broadcast its fiscal 2025 fourth-quarter earnings teleconference on November 6, 2025.

While specific detailed seasonal patterns for Air Products & Chemicals, Inc. are not publicly available, the nature of its business suggests a relatively stable demand. The company's business model relies heavily on long-term contracts, typically spanning 15 to 20 years, for the supply of essential industrial gases. These gases are critical inputs for a wide array of industries, including manufacturing, healthcare, electronics, and food and beverage, which generally require a consistent supply for their ongoing operations. This model, characterized by high switching costs for customers, helps to generate predictable cash flow streams and implies that demand for Air Products' core products and services is less susceptible to significant short-term seasonal fluctuations.

Air Products & Chemicals, Inc. specializes in the design, manufacturing, and marketing of industrial gases and chemicals, including atmospheric gases, process gases, and specialty gases. The company also produces performance materials and designs and manufactures cryogenic and gas processing equipment. Air Products serves a diverse range of industries, including refining, chemicals, metals, electronics, manufacturing, medical, food and beverage, and healthcare. The company is also a significant supplier of hydrogen and is involved in carbon capture and gasification technologies, positioning itself in the clean energy transition.

Air Products & Chemicals, Inc. has a significant global presence, operating in over 50 countries. Its net sales are geographically distributed, with the United States accounting for 41.6%, Asia for 26.6%, Europe for 23.3%, the Middle East and India for 1.1%, and other regions for 7.4%. The company's operations are segmented into Americas, Asia, Europe, and Middle East and India, focusing on producing and selling gases to customers in these regions.

Air Products has maintained a strong brand reputation, evidenced by its inclusion on the Dow Jones Sustainability North America Index from 2008 to 2011 and being named a Maplecroft Climate Innovation Indexes (CIIs) Leader in 2004. The company is recognized for its commitment to sustainability, providing solutions that benefit the environment and enhance sustainability. Air Products is actively involved in developing and deploying advanced technologies for a low-carbon economy, particularly in hydrogen for mobility and carbon capture. In the past year, an event that affected Air Products' reputation was its withdrawal from a green hydrogen production plan in the United Kingdom in June 2025, attributed to a "lack of commitment" by the British government.

Air Products & Chemicals, Inc. is predominantly owned by institutional shareholders, who hold 93.07% of the stock. Insiders own 2.70%, and retail investors hold 4.23%. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., State Farm Mutual Automobile Insurance Co, Capital Research Global Investors, State Street Corp, Dodge & Cox, and Capital International Investors. Vanguard Group Inc. is the largest institutional shareholder, holding 9.77% of the shares, followed by BlackRock Inc. with 7.88%. Mantle Ridge LP is noted as the largest individual Air Products shareholder, owning 1.85% of the company.