Air Products and Chemicals Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Air Products and Chemicals Inc (APD). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | Q4 2024 | Q1 2025 | Q2 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|
| Americas | $1.29B 43.9% | $1.29B 44.1% | $1.26B 41.7% | $1.34B 43.2% | $1.38B 43.6% · +7.5% | $1.32B 41.8% · +2.7% |
| Asia | $817.1M 27.9% | $774.1M 26.5% | $810.0M 26.8% | $831.5M 26.8% | $832.6M 26.3% · +1.9% | $886.0M 28.0% · +14.5% |
| Europe | $697.2M 23.8% | $727.4M 24.9% | $770.5M 25.5% | $782.0M 25.2% | $789.0M 24.9% · +13.2% | $815.7M 25.8% · +12.1% |
| Corporate and other | $96.8M 3.3% | $94.7M 3.2% | $142.9M 4.7% | $117.0M 3.8% | $137.1M 4.3% · +41.6% | $103.1M 3.3% · +8.9% |
| Middle East and India | $32.8M 1.1% | $32.8M 1.1% | $38.3M 1.3% | $30.3M 1.0% | $29.2M 0.9% · -11.0% | $34.8M 1.1% · +6.1% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | Q4 2024 | Q1 2025 | Q2 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|
| Americas | $388.2M 30.1% | $365.7M 28.4% | $374.1M 29.7% | $403.8M 30.1% | $373.9M 27.0% | $395.4M 29.9% |
| Asia | $216.4M 26.5% | $191.4M 24.7% | $216.8M 26.8% | $232.3M 27.9% | $240.0M 28.8% | $256.4M 28.9% |
| Europe | $186.5M 26.7% | $195.5M 26.9% | $225.2M 29.2% | $223.5M 28.6% | $211.6M 26.8% | $230.7M 28.3% |
| Corporate and other | -$117.0M -120.9% | -$118.4M -125.0% | -$83.1M -58.2% | -$108.9M -93.1% | -$77.4M -56.5% | -$80.2M -77.8% |
| Middle East and India | -$600.0K -1.8% | -$2.9M -8.8% | $8.1M 21.1% | $5.8M 19.1% | $4.6M 15.8% | $8.0M 23.0% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by product line
| Segment | Q4 2024 | Q1 2025 | Q2 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|
| On-site | $1.49B 50.8% | $1.55B 53.2% | $1.54B 51.1% | $1.63B 52.7% | $1.71B 54.0% · +15.0% | $1.67B 52.9% · +7.6% |
| Merchant | $1.35B 45.9% | $1.27B 43.5% | $1.34B 44.2% | $1.35B 43.6% | $1.32B 41.7% · -1.7% | $1.39B 43.9% · +9.3% |
| Sale of Equipment | $96.8M 3.3% | $94.7M 3.2% | $142.9M 4.7% | $117.0M 3.8% | $137.1M 4.3% · +41.6% | $103.1M 3.3% · +8.9% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Remaining performance obligations
Remaining performance obligations are the part of the business already sold but not yet delivered and therefore not yet booked as revenue. In subscription and project businesses it points the way earlier than revenue does.
| As of | Remaining performance obligations |
|---|---|
| Q2 2026 | $28.00B |
| Q1 2026 | $28.00B |
| Q4 2025 | $26.00B |
| Q3 2025 | $26.00B |
| Q2 2025 | $26.00B |
| Q1 2025 | $26.00B |
| Q4 2024 | $26.00B |
| Q3 2024 | $26.00B |
Operating metrics
Operating metrics are the figures a company uses to measure its own business — customer counts, stores, deliveries or the churn rate. None of them appear in the financial statements, and they often explain earlier than revenue does why revenue is moving.
| Metric | Q2 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|
| Europe segment volume growth for the quarter | 3.0% | 5.0% | 2.0% |
These metrics are not part of the financial statements; they sit in the narrative text of the filings. We read them out of the SEC filings using artificial intelligence and check every single figure against the original passage in the report; anything that is not found there verbatim is discarded. Source: SEC EDGAR (annual and quarterly reports, 10-K/10-Q).
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: October 2, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.