Air Products and Chemicals Inc
- Industry
- Diversified Industrials
- Exchange
- US
- Country
- USA
- IPO date
- Jan 1, 1987
- Employees
- 21,087
- Website
- www.airproducts.com
Composite valuation range · conservative $190–$220 / fair $240–$290 / optimistic $320–$380. At $292.58, Between the fair and optimistic ranges.
At publication $289.47 (May 23, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, metals, manufacturing, electronics, energy production, medical, food, chemical and petrochemical manufacturing, oil and gas recovery and processing, and steel and primary metals processing. It also designs and manufactures equipment for air separation, hydrocarbon recovery and purification, natural gas liquefaction, and liquid helium and liquid hydrogen transport and storage. Air Products and Chemicals, Inc. was founded in 1940 and is headquartered in Allentown, Pennsylvania.
History
Air Products and Chemicals, Inc. was founded in 1940 and is headquartered in Allentown, Pennsylvania. In January 2025 the company faced a proxy fight launched by activist investor Mantle Ridge, which won multiple board seats over disputes including CEO succession and capital-allocation risk. On February 4, 2025, the company appointed Eduardo Menezes as CEO, effective February 7, 2025, succeeding Seifi Ghasemi. In FY2025 the new management recognized roughly $3.6 billion in project exit costs and $3.747 billion in total business and asset action charges, with related exit activities expected to be substantially completed within FY2026.
Industry position
Air Products is a leading global industrial gases company and one of the world's three industrial-gas giants, serving refining, chemicals, metals, electronics, manufacturing, medical and food industries with oxygen, nitrogen, argon, hydrogen, helium, carbon dioxide, carbon monoxide, syngas and specialty gases, plus related equipment. In FY2025, regional industrial-gas operations made up over 90% of consolidated sales, split into on-site ($6.18B, 52%), merchant ($5.34B, 44%) and equipment ($0.52B, 4%), with no single customer exceeding 10% of sales across roughly 50 countries. In its 10-K, Air Products lists Linde, Air Liquide and Messer as its main global competitors. At the May 22, 2026 close its market capitalization was about $64.5 billion.