APD

NYSE

Air Products & Chemicals, Inc.

Materials, Industrial Gases

$303.44

close 7 Aug 2026

+6.86%

52-week change

$67.57B

market cap

$229.11

$314.87

52-week range

Expected price

$231.60 – $283.07

Current price

$303.44

Signal

Could be overvalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)-1,444.95x

P/S (TTM)5.36x

P/B4.87x

EV/EBITDA (TTM)70.85x

FCF yield (TTM)-0.45%

PEG (TTM, GAAP)—

Context

P/E, own 5-year average27.49x

P/E, sector median31.36x*

Price at 5-year median P/E—*

Indicated dividend yield2.39%

Forward — analyst consensus

Forward P/E (FY2026)22.58x*

Forward P/E (FY2027)21.02x

Forward PEG3.04*

Consensus EPS FY2026 (19 analysts)$13.44

EPS growth (FY2026→FY2027)7.42%

Revenue growth (FY2026)5.94%

Street view

Price target (mean)$343.37*

Target upside13.16%

Ratings (buy / hold / sell)14 / 7 / 0

FY2026 EPS revisions, 30d (up / down)3 / 5

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 30 Jul 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$303.44

Cash & equivalents$980.50M

Total debt$769.50M

Shares outstanding222.69M

Result

DCF price per share-$29.71

Current price$303.44

Margin of safety-109.79%

PV of years 1–10-$2.59B

PV of terminal value-$4.24B

Equity value-$6.62B

Market-implied growth—

The base free cash flow is not positive; growing a negative flow is rarely a meaningful valuation.

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	-$316.47M	-$332.29M	-$348.91M	-$366.35M	-$384.67M	-$403.90M	-$424.10M	-$445.31M	-$467.57M	-$490.95M	-$9.15B
PV	-$293.03M	-$284.89M	-$276.97M	-$269.28M	-$261.80M	-$254.53M	-$247.46M	-$240.58M	-$233.90M	-$227.40M	-$4.24B

period to 30 Jun 2026, filed 30 Jul 2026, close 7 Aug 2026