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Air Products income statement

In fiscal 2025, Air Products reported revenue of $12.04bn, down 0.5% on the year before, operating income of −$877m (a -7.3% margin) and net income of −$395m, or −$1.77 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Sept 20092010Sept 20102011Sept 20112012Sept 20122013Sept 20132014Sept 20142015Sept 20152016Sept 20162017Sept 20172018Sept 20182019Sept 20192020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Revenue8.38.69.79.610.210.47.87.58.28.98.98.910.312.712.612.112.012.6
Cost of revenue6.06.37.17.17.57.65.65.25.86.26.05.97.29.38.88.28.38.6
Gross profit2.22.52.62.62.72.83.02.32.42.72.93.03.13.43.83.93.84.0
Research and development0.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.10.1
Selling, general and administrative0.90.90.90.91.11.10.80.70.70.80.80.80.80.91.00.90.90.9
Operating income0.81.31.51.31.31.31.21.51.42.02.12.22.32.32.54.5−0.9−0.6
Interest expense0.10.10.10.10.10.10.10.10.10.10.10.10.10.10.20.20.20.2
Income before tax0.81.31.51.31.41.41.31.61.42.02.32.42.52.82.94.8−0.4−0.1
Income tax0.20.30.40.30.30.40.30.40.30.50.50.50.50.50.60.9−0.1−0.1
Net income0.61.01.21.21.01.01.30.63.01.51.81.92.12.32.33.8−0.4−0.0
Diluted EPS$2.96$4.74$5.63$5.44$4.68$4.61$5.88$2.89$13.65$6.78$7.94$8.49$9.43$10.14$10.33$17.18−$1.77−$0.21
Diluted shares (average)214m217m218m215m212m215m217m218m220m221m222m222m223m223m223m223m223m223m
EBITDA1.72.12.32.12.22.32.12.42.32.93.23.43.63.73.95.90.71.0

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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Figures from Air Products's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Air Products.