APDAir Products
Additional information about Air Products is available on our website at www.airproducts.com. 10-K, Item 1
- Employees
- 21,300
- Headquarters
- Allentown, PA
- Next results
- around Jan 29, 2027
The biggest changes in the 10-K filed 2025-11-20, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Operating margin
36.9% → -7.3% (-44.2 pts) Big change FY to 2025-09-30 vs 2024-09-30“Adjusted operating income of $2.9 billion decreased 3%, or $89.8, due to lower volumes and higher costs, partially offset by higher non-helium pricing.”
Read it in the 10-K ↗
“Adjusted operating income of $2.9 billion decreased 3%, or $89.8, due to lower volumes and higher costs, partially offset by higher non-helium pricing.”
Read it in the 10-K ↗
Net income
-110.3% Big change FY to 2025-09-30 vs 2024-09-30“In addition to the items discussed above, our effective tax rate was higher in fiscal year 2025 due to lower tax benefits on U.S. export income in fiscal year 2025, higher net costs on foreign-related income taxed in the U.S, and an income tax benefit for a tax election related to a non-U.S. subsidiary that occurred in our prior fiscal year but did not recur in fiscal year 2025.”
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Cash from operations
-10.7% Big change FY to 2025-09-30 vs 2024-09-30The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
-0.5% FY to 2025-09-30 vs 2024-09-30“Sales of $12.0 billion decreased 1%, or $63.3, as 4% lower volumes were partially offset by 2% higher energy cost pass-through to customers and 1% higher pricing driven by non-helium merchant products across all regions.”
Read it in the 10-K ↗
“Sales of $12.0 billion decreased 1%, or $63.3, as lower volumes of 4% were partially offset by higher energy cost pass-through to customers of 2% and favorable pricing of 1%.”
Read it in the 10-K ↗
Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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