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 | $1.4M | +0.14% | +10.99% |
| 2018 | 2018-10-01 | $978.8M | −$509.9M | −34.25% | +10.96% |
| 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 | — | — | +4.76% |
| Q3 2022 | 2022-06-30 | $202.7M | −$105.9M | −34.32% | +6.36% |
| Q2 2022 | 2022-03-31 | −$250.0M | — | — | −8.49% |
| Q1 2022 | 2021-12-31 | $121.4M | $10.9M | +9.86% | +4.05% |
| Q3 2021 | 2021-06-30 | $308.6M | $648.5M | — | +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 | — | — | +21.22% |
| Q3 2019 | 2019-06-30 | $173.5M | $8.9M | +5.41% | +7.80% |
| Q2 2019 | 2019-03-31 | $70.5M | −$159.6M | −69.36% | +3.22% |
| Q1 2019 | 2018-12-31 | $251.8M | −$51.6M | −17.01% | +11.32% |
| Q3 2018 · Jun 30 | 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% | +9.92% |
| 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 | — | +1.30% |
| Q4 2010 | 2010-09-30 | $257.7M | $73.1M | +39.60% | +10.96% |
| 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 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.
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