Air Products & Chemicals (APD) FY2024 results: revenue $12.1 billion, down 4.0% on the year
Air Products & Chemicals, Inc. (APD) reported revenue of $12.1 billion for fiscal 2024, the year ended 30 September 2024, down 4.0% on the year before. Net income was $3.8 billion, up 66.4%, and diluted earnings per share $17.18. The figures are the company's own, from the 10-K it filed with the SEC on 21 November 2024.
Revenue
$12.1 billion
-4.0% on the year
FY2017FY2024
Operating margin
36.9%
19.8% a year earlier
FY2017FY2024
Net income
$3.8 billion
+66.4% on the year
FY2017FY2024
Diluted EPS
$17.18
+66.3% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,647
3,206
3,230
+13.7%
Capital expenditure
6,797
4,626
2,926
+46.9%
Free cash flow
-3,150
-1,420
304
Free cash flow margin
-26.0%
-11.3%
2.4%
Depreciation and amortisation
1,451
1,358
1,338
+6.8%
Share-based compensation
61.8
59.9
48.4
+3.2%
Dividends paid
1,565
1,497
1,383
+4.6%
Dividend per share
$7.06
$6.87
$6.36
+2.8%
Diluted shares, weighted
223m
223m
222m
+0.0%
Shares outstanding at period end
222m
222m
222m
+0.1%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
17,036
14,313
13,144
+19.0%
Non-controlling interest
1,637
1,347
558
+21.5%
Short-term borrowings
83.5
260
n/a
-67.8%
Debt
14,486
10,292
7,645
+40.7%
Operating lease liabilities
678
631
592
+7.4%
Other liabilities
5,654
5,159
5,253
+9.6%
Total liabilities and equity
39,575
32,002
27,193
+23.7%
Fixed assets
23,371
17,472
14,160
+33.8%
Goodwill
905
862
823
+5.0%
Intangible assets
312
335
348
-6.9%
Investments
5.0
332
591
-98.5%
Cash and equivalents
2,980
1,617
2,711
+84.3%
Receivables
1,822
1,700
1,794
+7.1%
Inventory
766
652
514
+17.5%
Other assets
9,415
9,033
6,251
+4.2%
Total assets
39,575
32,002
27,193
+23.7%
10-K for the year ended 30 September 2024, filed 21 November 2024: the filing.