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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
The historical rank and industry rank for Air Products and Chemicals's Intrinsic Value: Projected FCF or its related term are showing as below:
WBO:APCD'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 2.04 Med: 2.72 Max: 81.64
Current: 80.66
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Air Products and Chemicals was 81.64. The lowest was 2.04. And the median was 2.72.
WBO:APCD's Price-to-Projected-FCF is ranked worse than 99.13% of 1156
companies
in the Chemicals industry
Industry Median: 1.38
vs WBO:APCD: 80.66
Air Products and Chemicals (WBO:APCD) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Air Products and Chemicals's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
258.10
/
0.22317243443642
=
1,156.50
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Air Products and Chemicals Intrinsic Value: Projected FCF Related Terms
Air Products and Chemicals Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Air Products and Chemicals's Intrinsic Value: Projected FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Air Products and Chemicals Intrinsic Value: Projected FCF Chart
WBO:APCD vs ECL, SHW, PPG: Intrinsic Value: Projected FCF Comparison
For the Specialty Chemicals subindustry, Air Products and Chemicals's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Air Products and Chemicals Price-to-Projected-FCF vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Products and Chemicals's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Air Products and Chemicals's Price-to-Projected-FCF falls into.
Air Products and Chemicals Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Intrinsic Value: Projected FCF of €3.20 mean?
Air Products and Chemicals (WBO:APCD) has a Intrinsic Value: Projected FCF of €3.20 as of Sep. 08, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Air Products and Chemicals and its competitors. According to the industry distribution chart, Air Products and Chemicals ranks #1146 out of 1156 companies in the Chemicals industry, placing it in the top 99.1%.
Is Air Products and Chemicals' Intrinsic Value: Projected FCF too high?
Air Products and Chemicals' current Intrinsic Value: Projected FCF is €3.20. Based on the distribution chart, Air Products and Chemicals ranks #1146 out of 1156 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Air Products and Chemicals has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Air Products and Chemicals' Intrinsic Value: Projected FCF compare to ECL and SHW?
According to the Chemicals industry distribution chart, Air Products and Chemicals ranks #1146 out of 1156 companies for Intrinsic Value: Projected FCF. This places Air Products and Chemicals in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.38. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Chemicals company?
The median Intrinsic Value: Projected FCF among Chemicals companies is 1.38, based on 1,156 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Air Products and Chemicals and its competitors. For the Chemicals industry, the median Intrinsic Value: Projected FCF is 1.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Products and Chemicals's current Intrinsic Value: Projected FCF is €3.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Products and Chemicals stock overvalued right now?
Based on GuruFocus' analysis, Air Products and Chemicals (WBO:APCD) is currently considered Fairly Valued. The stock's GF Value™ is €249.54, compared to a current price of €258.10 — trading 3.4% above its estimated fair value. The current Intrinsic Value: Projected FCF is €3.20. Air Products and Chemicals' overall GF Score™ is 65/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Air Products and Chemicals (WBO:APCD), the current Intrinsic Value: Projected FCF is €3.20 as of Sep. 08, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Air Products and Chemicals (WBO:APCD) Overvalued in 2026?
Based on GuruFocus' analysis, Air Products and Chemicals stock appears to be overvalued.
The current stock price of €258.10 is trading 3.4% above its estimated GF Value™ of €249.54.
GuruFocus considers Air Products and Chemicals to be Fairly Valued.
Key valuation signals for WBO:APCD:
Intrinsic Value: Projected FCF: €3.20
GF Value™: €249.54 vs. price of €258.10 (3.4% above fair value)
No single metric tells the full story. See the WBO:APCD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the world's largest supplier of hydrogen and helium. It has a unique portfolio serving customers across industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated roughly $12 billion in revenue in fiscal 2025.
65GF Score
Get the complete analysis for WBO:APCD
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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