Air Products & Chemicals annual free cash flow
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2025
Air Products & Chemicals Free Cash Flow (FCF) History (APD)
Air Products & Chemicals reported −$3.77B in free cash flow for fiscal 2025, a decrease of $615.8M from the previous fiscal year, with a free cash flow margin of −31.28%.
View full Air Products & Chemicals company overviewAir Products & Chemicals free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-09-30 | −$3.77B | −$615.8M | — | −31.28% |
| 2024 | 2024-09-30 | −$3.15B | −$1.73B | — | −26.03% |
| 2023 | 2023-09-30 | −$1.42B | −$1.66B | — | −11.28% |
| 2022 | 2022-09-30 | $244.1M | −$626.9M | −71.97% | +1.92% |
| 2021 | 2021-09-30 | $871.0M | $115.3M | +15.26% | +8.44% |
| 2020 | 2020-09-30 | $755.7M | −$224.5M | −22.90% | +8.53% |
| 2019 | 2019-09-30 | $980.2M | −$508.5M | −34.16% | +10.99% |
| 2017 | 2017-09-30 | $1.49B | $137.6M | +10.18% | +18.18% |
| 2016 | 2016-09-30 | $1.35B | $466.5M | +52.74% | +18.01% |
| 2015 | 2015-09-30 | $884.6M | $57.2M | +6.91% | +11.31% |
| 2014 | 2014-09-30 | $827.4M | $798.5M | +2762.98% | +7.93% |
| 2013 | 2013-09-30 | $28.9M | −$215.2M | −88.16% | +0.28% |
| 2012 | 2012-09-30 | $244.1M | −$199.8M | −45.01% | +2.54% |
| 2011 | 2011-09-30 | $443.9M | −$89.8M | −16.83% | +4.59% |
| 2010 | 2010-09-30 | $533.7M | $383.4M | +255.09% | +6.19% |
| 2009 | 2009-09-30 | $150.3M | −$423.4M | −73.80% | +1.82% |
| 2008 | 2008-09-30 | $573.7M | $87.0M | +17.88% | +5.51% |
| 2007 | 2007-09-30 | $486.7M | — | — | +5.32% |
Air Products & Chemicals quarterly free cash flow
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| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q3 2026 | 2026-06-30 | $309.5M | $949.5M | — | +9.79% |
| Q2 2026 | 2026-03-31 | −$3.9M | $1.56B | — | −0.12% |
| Q1 2026 | 2025-12-31 | −$350.5M | $955.4M | — | −11.30% |
| Q4 2025 | 2025-09-30 | −$256.5M | $861.7M | — | −8.10% |
| Q3 2025 | 2025-06-30 | −$640.0M | −$294.8M | — | −21.17% |
| Q2 2025 | 2025-03-31 | −$1.56B | −$695.7M | — | −53.61% |
| Q1 2025 | 2024-12-31 | −$1.31B | −$487.0M | — | −44.55% |
| Q4 2024 | 2024-09-30 | −$1.12B | −$657.6M | — | −35.08% |
| Q3 2024 | 2024-06-30 | −$345.2M | $131.8M | — | −11.56% |
| Q2 2024 | 2024-03-31 | −$867.7M | −$499.5M | — | −29.61% |
| Q1 2024 | 2023-12-31 | −$818.9M | −$704.0M | — | −27.32% |
| Q4 2023 | 2023-09-30 | −$460.6M | −$630.6M | — | −14.43% |
| Q3 2023 | 2023-06-30 | −$477.0M | −$679.7M | — | −15.72% |
| Q2 2023 | 2023-03-31 | −$368.2M | −$118.2M | — | −11.51% |
| Q1 2023 | 2022-12-31 | −$114.9M | −$236.3M | — | −3.62% |
| Q4 2022 | 2022-09-30 | $170.0M | −$138.6M | −44.91% | +4.76% |
| Q3 2022 | 2022-06-30 | $202.7M | $92.2M | +83.44% | +6.36% |
| Q2 2022 | 2022-03-31 | −$250.0M | −$1.04B | — | −8.49% |
| Q1 2022 | 2021-12-31 | $121.4M | $461.3M | — | +4.05% |
| Q3 2021 | 2021-06-30 | $308.6M | $220.0M | +248.31% | +11.85% |
| Q1 2021 | 2020-12-31 | $110.5M | −$108.8M | −49.61% | +4.65% |
| Q4 2020 | 2020-09-30 | $787.7M | $303.3M | +62.61% | +33.95% |
| Q3 2020 | 2020-06-30 | −$339.9M | −$513.4M | — | −16.46% |
| Q2 2020 | 2020-03-31 | $88.6M | $18.1M | +25.67% | +4.00% |
| Q1 2020 | 2019-12-31 | $219.3M | −$32.5M | −12.91% | +9.73% |
| Q4 2019 | 2019-09-30 | $484.4M | $319.8M | +194.29% | +21.22% |
| Q3 2019 | 2019-06-30 | $173.5M | −$56.6M | −24.60% | +7.80% |
| Q2 2019 | 2019-03-31 | $70.5M | −$232.9M | −76.76% | +3.22% |
| Q1 2019 | 2018-12-31 | $251.8M | −$430.3M | −63.08% | +11.32% |
| Q3 2018 | 2018-06-30 | $164.6M | −$313.0M | −65.54% | +7.29% |
| Q2 2018 | 2018-03-31 | $230.1M | $236.2M | — | +10.67% |
| Q1 2018 | 2017-12-31 | $303.4M | −$31.7M | −9.46% | +13.69% |
| Q4 2017 | 2017-09-30 | $682.1M | $152.3M | +28.75% | +30.96% |
| Q3 2017 | 2017-06-30 | $477.6M | $74.3M | +18.42% | +22.51% |
| Q2 2017 | 2017-03-31 | −$6.1M | −$275.3M | — | −0.31% |
| Q1 2017 | 2016-12-31 | $335.1M | $186.3M | +125.20% | +17.80% |
| Q4 2016 | 2016-09-30 | $529.8M | $371.1M | +233.84% | +27.23% |
| Q3 2016 | 2016-06-30 | $403.3M | $36.0M | +9.80% | +21.07% |
| Q2 2016 | 2016-03-31 | $269.2M | −$49.3M | −15.48% | +15.15% |
| Q1 2016 | 2015-12-31 | $148.8M | $108.7M | +271.07% | +7.97% |
| Q4 2015 | 2015-09-30 | $158.7M | −$349.6M | −68.78% | +41.90% |
| Q3 2015 | 2015-06-30 | $367.3M | $270.7M | +280.23% | +14.87% |
| Q2 2015 | 2015-03-31 | $318.5M | $251.1M | +372.55% | +13.19% |
| Q1 2015 | 2014-12-31 | $40.1M | −$115.0M | −74.15% | +1.57% |
| Q4 2014 | 2014-09-30 | $508.3M | $415.2M | +445.97% | +18.99% |
| Q3 2014 | 2014-06-30 | $96.6M | $51.7M | +115.14% | +3.67% |
| Q2 2014 | 2014-03-31 | $67.4M | $97.9M | — | +2.61% |
| Q1 2014 | 2013-12-31 | $155.1M | $233.7M | — | +6.09% |
| Q4 2013 | 2013-09-30 | $93.1M | −$72.9M | −43.92% | +3.60% |
| Q3 2013 | 2013-06-30 | $44.9M | −$36.9M | −45.11% | +1.76% |
| Q2 2013 | 2013-03-31 | −$30.5M | $61.6M | — | −1.23% |
| Q1 2013 | 2012-12-31 | −$78.6M | −$167.0M | — | −3.07% |
| Q4 2012 | 2012-09-30 | $166.0M | −$82.7M | −33.25% | +6.37% |
| Q3 2012 | 2012-06-30 | $81.8M | −$98.7M | −54.68% | +3.50% |
| Q2 2012 | 2012-03-31 | −$92.1M | −$77.1M | — | −3.93% |
| Q1 2012 | 2011-12-31 | $88.4M | $58.7M | +197.64% | +3.81% |
| Q4 2011 | 2011-09-30 | $248.7M | −$9.0M | −3.49% | +10.33% |
| Q3 2011 | 2011-06-30 | $180.5M | −$69.7M | −27.86% | +7.30% |
| Q2 2011 | 2011-03-31 | −$15.0M | −$135.7M | — | −0.62% |
| Q1 2011 | 2010-12-31 | $29.7M | $124.6M | — | +1.24% |
| Q4 2010 | 2010-09-30 | $257.7M | $73.1M | +39.60% | +13.27% |
| Q3 2010 | 2010-06-30 | $250.2M | $128.0M | +104.75% | +11.11% |
| Q2 2010 | 2010-03-31 | $120.7M | $184.7M | — | +5.37% |
| Q1 2010 | 2009-12-31 | −$94.9M | −$2.4M | — | −4.37% |
| Q4 2009 | 2009-09-30 | $184.6M | — | — | +8.67% |
| Q3 2009 | 2009-06-30 | $122.2M | — | — | +6.18% |
| Q2 2009 | 2009-03-31 | −$64.0M | — | — | −3.27% |
| Q1 2009 | 2008-12-31 | −$92.5M | — | — | −4.21% |
Air Products & Chemicals free cash flow growth trends
Over the last five reported fiscal years, free cash flow declined from $755.7M to −$3.77B, a net decrease of $4.52B. Air Products & Chemicals's latest reported quarter, Q3 2026, generated $309.5M in free cash flow, an increase of $949.5M year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review Air Products & Chemicals filings at SEC.gov ↗