AIR PRODUCTS & CHEMICALS INC (AP3.DE) Stock Fundamental Analysis

FRA:AP3 • US0091581068

233.3 EUR
-4.7 (-1.97%)
Last: Feb 27, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

Overall AP3 gets a fundamental rating of 3 out of 10. We evaluated AP3 against 69 industry peers in the Chemicals industry. While AP3 is still in line with the averages on profitability rating, there are concerns on its financial health. AP3 is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year AP3 was profitable.
  • In the past year AP3 had a positive cash flow from operations.
  • Of the past 5 years AP3 4 years were profitable.
  • Each year in the past 5 years AP3 had a positive operating cash flow.
AP3.DE Yearly Net Income VS EBIT VS OCF VS FCFAP3.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B

1.2 Ratios

  • AP3's Return On Assets of -0.81% is on the low side compared to the rest of the industry. AP3 is outperformed by 66.67% of its industry peers.
  • The Return On Equity of AP3 (-2.17%) is worse than 69.57% of its industry peers.
  • The Return On Invested Capital of AP3 (6.25%) is comparable to the rest of the industry.
  • The Average Return On Invested Capital over the past 3 years for AP3 is in line with the industry average of 7.10%.
Industry RankSector Rank
ROA -0.81%
ROE -2.17%
ROIC 6.25%
ROA(3y)5.3%
ROA(5y)6.4%
ROE(3y)11.97%
ROE(5y)13.72%
ROIC(3y)6.89%
ROIC(5y)7.28%
AP3.DE Yearly ROA, ROE, ROICAP3.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20

1.3 Margins

  • The Operating Margin of AP3 (24.09%) is better than 95.65% of its industry peers.
  • AP3's Operating Margin has been stable in the last couple of years.
  • AP3 has a Gross Margin (31.63%) which is in line with its industry peers.
  • In the last couple of years the Gross Margin of AP3 has remained more or less at the same level.
Industry RankSector Rank
OM 24.09%
PM (TTM) N/A
GM 31.63%
OM growth 3Y7.7%
OM growth 5Y-0.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.89%
GM growth 5Y-1.48%
AP3.DE Yearly Profit, Operating, Gross MarginsAP3.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AP3 is destroying value.
  • The number of shares outstanding for AP3 remains at a similar level compared to 1 year ago.
  • The number of shares outstanding for AP3 has been increased compared to 5 years ago.
  • The debt/assets ratio for AP3 is higher compared to a year ago.
AP3.DE Yearly Shares OutstandingAP3.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
AP3.DE Yearly Total Debt VS Total AssetsAP3.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B 40B

2.2 Solvency

  • AP3 has an Altman-Z score of 2.64. This is not the best score and indicates that AP3 is in the grey zone with still only limited risk for bankruptcy at the moment.
  • With a Altman-Z score value of 2.64, AP3 perfoms like the industry average, outperforming 57.97% of the companies in the same industry.
  • A Debt/Equity ratio of 1.13 is on the high side and indicates that AP3 has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.13, AP3 is doing worse than 84.06% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Altman-Z 2.64
ROIC/WACC0.52
WACC12.14%
AP3.DE Yearly LT Debt VS Equity VS FCFAP3.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B 15B

2.3 Liquidity

  • AP3 has a Current Ratio of 1.46. This is a normal value and indicates that AP3 is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 1.46, AP3 is doing worse than 60.87% of the companies in the same industry.
  • AP3 has a Quick Ratio of 1.23. This is a normal value and indicates that AP3 is financially healthy and should not expect problems in meeting its short term obligations.
  • AP3 has a Quick ratio (1.23) which is in line with its industry peers.
Industry RankSector Rank
Current Ratio 1.46
Quick Ratio 1.23
AP3.DE Yearly Current Assets VS Current LiabilitesAP3.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • The earnings per share for AP3 have decreased by -1.12% in the last year.
  • Measured over the past 5 years, AP3 shows a small growth in Earnings Per Share. The EPS has been growing by 7.07% on average per year.
  • Looking at the last year, AP3 shows a small growth in Revenue. The Revenue has grown by 1.44% in the last year.
  • The Revenue has been growing slightly by 6.33% on average over the past years.
EPS 1Y (TTM)-1.12%
EPS 3Y4.94%
EPS 5Y7.07%
EPS Q2Q%10.49%
Revenue 1Y (TTM)1.44%
Revenue growth 3Y-1.77%
Revenue growth 5Y6.33%
Sales Q2Q%5.83%

3.2 Future

  • The Earnings Per Share is expected to grow by 7.95% on average over the next years.
  • AP3 is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.57% yearly.
EPS Next Y9.39%
EPS Next 2Y8.48%
EPS Next 3Y8.4%
EPS Next 5Y7.95%
Revenue Next Year4.27%
Revenue Next 2Y5.04%
Revenue Next 3Y5.25%
Revenue Next 5Y6.57%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
AP3.DE Yearly Revenue VS EstimatesAP3.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 5B 10B 15B
AP3.DE Yearly EPS VS EstimatesAP3.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5 10 15

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Find the best growth stocksShow best growing peers

1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 22.35, which indicates a rather expensive current valuation of AP3.
  • Compared to the rest of the industry, the Price/Earnings ratio of AP3 is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 27.10. AP3 is around the same levels.
  • With a Price/Forward Earnings ratio of 19.47, AP3 is valued on the expensive side.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AP3 is on the same level as its industry peers.
  • When comparing the Price/Forward Earnings ratio of AP3 to the average of the S&P500 Index (28.06), we can say AP3 is valued slightly cheaper.
Industry RankSector Rank
PE 22.35
Fwd PE 19.47
AP3.DE Price Earnings VS Forward Price EarningsAP3.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, AP3 is valued a bit more expensive than the industry average as 65.22% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 17.53
AP3.DE Per share dataAP3.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.38
PEG (5Y)3.16
EPS Next 2Y8.48%
EPS Next 3Y8.4%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.48%, AP3 has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.23, AP3 pays a bit more dividend than its industry peers.
  • AP3's Dividend Yield is a higher than the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 2.48%

5.2 History

  • The dividend of AP3 is nicely growing with an annual growth rate of 7.30%!
Dividend Growth(5Y)7.3%
Div Incr Years1
Div Non Decr Years1
AP3.DE Yearly Dividends per shareAP3.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 2 4 6

5.3 Sustainability

  • The earnings of AP3 are negative and hence is the payout ratio. AP3 will probably not be able to sustain this dividend level.
  • AP3's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP-476.15%
EPS Next 2Y8.48%
EPS Next 3Y8.4%
AP3.DE Yearly Income VS Free CF VS DividendAP3.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B -2B

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Find the best dividend stocksShow peers with best dividend

AIR PRODUCTS & CHEMICALS INC

FRA:AP3 (2/27/2026, 7:00:00 PM)

233.3

-4.7 (-1.97%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)01-30
Earnings (Next)04-29
Inst Owners94.93%
Inst Owner ChangeN/A
Ins Owners1.88%
Ins Owner ChangeN/A
Market Cap51.95B
Revenue(TTM)12.21B
Net Income(TTM)-333.70M
Analysts74.48
Price Target262.08 (12.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.48%
Yearly Dividend6
Dividend Growth(5Y)7.3%
DP-476.15%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.95%
Min EPS beat(2)-0.83%
Max EPS beat(2)2.73%
EPS beat(4)2
Avg EPS beat(4)-0.43%
Min EPS beat(4)-5.81%
Max EPS beat(4)2.73%
EPS beat(8)5
Avg EPS beat(8)1.02%
EPS beat(12)8
Avg EPS beat(12)0.41%
EPS beat(16)10
Avg EPS beat(16)0.31%
Revenue beat(2)1
Avg Revenue beat(2)-0.31%
Min Revenue beat(2)-1.28%
Max Revenue beat(2)0.67%
Revenue beat(4)2
Avg Revenue beat(4)-0.33%
Min Revenue beat(4)-1.31%
Max Revenue beat(4)0.67%
Revenue beat(8)2
Avg Revenue beat(8)-1.47%
Revenue beat(12)3
Avg Revenue beat(12)-2.46%
Revenue beat(16)5
Avg Revenue beat(16)-1.4%
PT rev (1m)1.98%
PT rev (3m)-4.71%
EPS NQ rev (1m)1.13%
EPS NQ rev (3m)1%
EPS NY rev (1m)0.63%
EPS NY rev (3m)1.17%
Revenue NQ rev (1m)0.78%
Revenue NQ rev (3m)0.78%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)-0.29%
Valuation
Industry RankSector Rank
PE 22.35
Fwd PE 19.47
P/S 5.03
P/FCF N/A
P/OCF 18.34
P/B 3.98
P/tB 4.34
EV/EBITDA 17.53
EPS(TTM)10.44
EY4.47%
EPS(NY)11.98
Fwd EY5.14%
FCF(TTM)-10.68
FCFYN/A
OCF(TTM)12.72
OCFY5.45%
SpS46.41
BVpS58.59
TBVpS53.77
PEG (NY)2.38
PEG (5Y)3.16
Graham Number117.31
Profitability
Industry RankSector Rank
ROA -0.81%
ROE -2.17%
ROCE 7.79%
ROIC 6.25%
ROICexc 6.43%
ROICexgc 6.66%
OM 24.09%
PM (TTM) N/A
GM 31.63%
FCFM N/A
ROA(3y)5.3%
ROA(5y)6.4%
ROE(3y)11.97%
ROE(5y)13.72%
ROIC(3y)6.89%
ROIC(5y)7.28%
ROICexc(3y)7.39%
ROICexc(5y)8.33%
ROICexgc(3y)7.7%
ROICexgc(5y)8.79%
ROCE(3y)8.6%
ROCE(5y)9.08%
ROICexgc growth 3Y-12.25%
ROICexgc growth 5Y-10.36%
ROICexc growth 3Y-11.59%
ROICexc growth 5Y-9.49%
OM growth 3Y7.7%
OM growth 5Y-0.94%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.89%
GM growth 5Y-1.48%
F-Score3
Asset Turnover0.3
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Debt/EBITDA 3.85
Cap/Depr 392.59%
Cap/Sales 50.43%
Interest Coverage 250
Cash Conversion 74.21%
Profit Quality N/A
Current Ratio 1.46
Quick Ratio 1.23
Altman-Z 2.64
F-Score3
WACC12.14%
ROIC/WACC0.52
Cap/Depr(3y)419.31%
Cap/Depr(5y)332.63%
Cap/Sales(3y)50.41%
Cap/Sales(5y)39.63%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1.12%
EPS 3Y4.94%
EPS 5Y7.07%
EPS Q2Q%10.49%
EPS Next Y9.39%
EPS Next 2Y8.48%
EPS Next 3Y8.4%
EPS Next 5Y7.95%
Revenue 1Y (TTM)1.44%
Revenue growth 3Y-1.77%
Revenue growth 5Y6.33%
Sales Q2Q%5.83%
Revenue Next Year4.27%
Revenue Next 2Y5.04%
Revenue Next 3Y5.25%
Revenue Next 5Y6.57%
EBIT growth 1Y-0.19%
EBIT growth 3Y5.8%
EBIT growth 5Y5.33%
EBIT Next Year88.65%
EBIT Next 3Y29.01%
EBIT Next 5Y19.65%
FCF growth 1Y-32.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y7.46%
OCF growth 3Y0.27%
OCF growth 5Y-0.05%

AIR PRODUCTS & CHEMICALS INC / AP3.DE FAQ

What is the ChartMill fundamental rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) stock?

ChartMill assigns a fundamental rating of 3 / 10 to AP3.DE.


What is the valuation status for AP3 stock?

ChartMill assigns a valuation rating of 1 / 10 to AIR PRODUCTS & CHEMICALS INC (AP3.DE). This can be considered as Overvalued.


How profitable is AIR PRODUCTS & CHEMICALS INC (AP3.DE) stock?

AIR PRODUCTS & CHEMICALS INC (AP3.DE) has a profitability rating of 4 / 10.


Can you provide the financial health for AP3 stock?

The financial health rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) is 2 / 10.


Is the dividend of AIR PRODUCTS & CHEMICALS INC sustainable?

The dividend rating of AIR PRODUCTS & CHEMICALS INC (AP3.DE) is 4 / 10 and the dividend payout ratio is -476.15%.