Air Products & Chemicals (APD) FY2023 results: revenue $12.6 billion, down 0.8% on the year
Air Products & Chemicals, Inc. (APD) reported revenue of $12.6 billion for fiscal 2023, the year ended 30 September 2023, down 0.8% on the year before. Net income was $2.3 billion, up 2.0%, and diluted earnings per share $10.33. The figures are the company's own, from the 10-K it filed with the SEC on 16 November 2023.
Revenue
$12.6 billion
-0.8% on the year
FY2016FY2023
Operating margin
19.8%
18.4% a year earlier
FY2016FY2023
Net income
$2.3 billion
+2.0% on the year
FY2016FY2023
Diluted EPS
$10.33
+1.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,206
3,230
3,342
-0.7%
Capital expenditure
4,626
2,926
2,464
+58.1%
Free cash flow
-1,420
304
878
Free cash flow margin
-11.3%
2.4%
8.5%
Depreciation and amortisation
1,358
1,338
1,321
+1.5%
Share-based compensation
59.9
48.4
44.5
+23.8%
Dividends paid
1,497
1,383
1,257
+8.2%
Dividend per share
$6.87
$6.36
$5.84
+8.0%
Diluted shares, weighted
223m
222m
222m
+0.1%
Shares outstanding at period end
222m
222m
221m
+0.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
14,313
13,144
13,540
+8.9%
Non-controlling interest
1,347
558
548
+141.3%
Short-term borrowings
260
n/a
n/a
Debt
10,292
7,645
7,637
+34.6%
Operating lease liabilities
631
592
503
+6.6%
Other liabilities
5,159
5,253
4,631
-1.8%
Total liabilities and equity
32,002
27,193
26,859
+17.7%
Fixed assets
17,472
14,160
13,255
+23.4%
Goodwill
862
823
912
+4.7%
Intangible assets
335
348
421
-3.7%
Investments
332
591
1,332
-43.8%
Cash and equivalents
1,617
2,711
4,469
-40.4%
Receivables
1,700
1,794
1,451
-5.2%
Inventory
652
514
454
+26.8%
Other assets
9,033
6,251
4,566
+44.5%
Total assets
32,002
27,193
26,859
+17.7%
10-K for the year ended 30 September 2023, filed 16 November 2023: the filing.