FUNDAMENTAL ANALYSIS
APD
Air Products
FUNDAMENTAL RATING
FUNDAMENTAL SCORE
41 / 100
Summary
Air Products reported a large most-recent quarter net loss of $-1.44B, a material solvency and earnings signal given its size. Revenue has modestly contracted over three years, with a three-year CAGR (compound annual growth rate) of -1.8% and latest annual revenue down 0.5% YoY (year-over-year); the latest annual net income comparison is NM (swung to loss), so that YoY figure is not usable. Assets cover liabilities 1.73 times, which provides balance-sheet headroom, and the Altman Z-score of 2.28 sits in the grey zone between distress (below 1.1) and safe (above 2.6). The Piotroski F-Score of 2 on a 0 to 9 quality scale is a weak earnings-quality reading. The latest annual change partly reflects a small comparison base, so the next report must show whether quarterly net income improves materially from $-1.44B and whether operating profitability returns to positive.
Revenue — Annual Comparison
Net Income — Annual Comparison
Quarterly Detail Charts
Quarterly Revenue
Quarterly Net Income
Piotroski F-Score Breakdown
2/9 · Bearish
Profitability — Net income positive this fiscal year
Fail
Return on Assets — Return on Assets improved year-over-year
Fail
Cash flow positive — Cash from operations positive this fiscal year
Pass
Earnings quality — Cash from operations exceeds net income
Pass
Leverage down — Long-term debt / total assets improved
N/A
Liquidity up — Current ratio improved year-over-year
Fail
No share dilution — Share count did not increase year-over-year
Fail
Margin up — Gross margin expanded year-over-year
N/A
Asset efficiency — Asset turnover improved year-over-year
Fail
Data Source
This dashboard applies a modified 9-signal Piotroski F-Score (Piotroski, 2000) and Altman Z-Score models. Fundamental filing data is sourced from the SEC's EDGAR XBRL database (primary), with API Ninjas as backup for freshly-filed 10-Ks not yet in SEC. Live price, market cap, and EPS display use Tiingo end-of-day data. This page is informational analysis, not investment advice. See Financial Disclaimer.
Recent Filings
Formula & Methodology
Trend inputAnnual revenue and net income year-over-year direction contributes 20% of the score.
Piotroski inputModified 9-test Piotroski F-Score (Quality) contributes 40% of the score.
Altman inputAltman Z-Score (Distress) contributes 40% of the score.
Rating ruleFormula: Trend (20%) + Piotroski F-Score (40%) + Altman Z-Score (40%). Trend blends annual revenue and net income year-over-year direction. Piotroski is the modified 9-test variant (7 classic + 2 cash-flow tests). Altman uses the 1968 Z-Score with Safe/Grey/Distress zones. Combined blend uses ±0.45 thresholds: Bullish at +0.45 or higher, Bearish at -0.45 or lower, Neutral in between. Missing sub-signals count as Neutral (0) and weights are not re-normalized — a company with fewer available signals must earn its rating from stronger reads on the remaining pillars.