Air Products and ChemicalsMIL:1APD 22 ROE % is 18.41% as of Mar. 2026, which is 13% above its 10-year median of 16.35. GuruFocus rates MIL:1APD with a GF Score™ of 22/100 and a GF Value™ of €253.32 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,590 Chemicals companies, Air Products and Chemicals ranks better than 83.14% on this metric.
The historical rank and industry rank for Air Products and Chemicals's ROE % or its related term are showing as below:
MIL:1APD'
s ROE % Range Over the Past 10 Years
Min: -2.46 Med: 16.35 Max: 34.96
Current: 13.8
During the past 13 years, Air Products and Chemicals's highest ROE % was 34.96%. The lowest was -2.46%. And the median was 16.35%.
MIL:1APD's ROE % is ranked better than 83.14% of 1590
companies
in the Chemicals industry
Industry Median: 5.195
vs MIL:1APD: 13.80
Air Products and Chemicals (MIL:1APD) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
* 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.
For the Specialty Chemicals subindustry, Air Products and Chemicals's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Products and Chemicals's ROE % distribution charts can be found below:
* The bar in red indicates where Air Products and Chemicals's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Air Products and Chemicals (MIL:1APD) has a ROE % of 18.41% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Air Products and Chemicals and its competitors. This is 13% above median its historical median of 16.35. According to the industry distribution chart, Air Products and Chemicals ranks #268 out of 1590 companies in the Chemicals industry, placing it in the top 16.9%.
Is Air Products and Chemicals' ROE % too high?
Air Products and Chemicals' current ROE % of 18.41% is 13% above median its 10-year median of 16.35. The Chemicals industry median ROE % is 5.20. Air Products and Chemicals' value of 18.41% is 254.4% above this industry median. Based on the distribution chart, Air Products and Chemicals ranks #268 out of 1590 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, Air Products and Chemicals has a GF Score™ of 22/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Air Products and Chemicals' ROE % compare to ECL and SHW?
According to the Chemicals industry distribution chart, Air Products and Chemicals ranks #268 out of 1590 companies for ROE %. This places Air Products and Chemicals in the top 17% of its industry — outperforming the majority of peers. The industry median ROE % is 5.20. Air Products and Chemicals' value of 18.41% is 254.4% above this benchmark. While the company's 10-year median is 16.35 vs. the industry median of 5.20, Air Products and Chemicals has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for a Chemicals company?
The median ROE % among Chemicals companies is 5.20, based on 1,590 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Air Products and Chemicals's current ROE % of 18.41% is 254.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Air Products and Chemicals and its competitors. For the Chemicals industry, the median ROE % is 5.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Products and Chemicals's current ROE % is 18.41%, which is 13% above median its own 10-year median of 16.35. 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 (MIL:1APD) is currently considered Fairly Valued. The stock's GF Value™ is €253.32, compared to a current price of €248.80 — trading 1.8% below its estimated fair value. The current ROE % is 18.41%, which is 13% above median its 10-year median of 16.35 and 254.4% above the Chemicals industry median of 5.20. Air Products and Chemicals' overall GF Score™ is 22/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Air Products and Chemicals (MIL:1APD), the current ROE % is 18.41% as of Mar. 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 (MIL:1APD) Overvalued in 2026?
Based on GuruFocus' analysis, Air Products and Chemicals stock appears to be undervalued.
The current stock price of €248.80 is trading 1.8% below its estimated GF Value™ of €253.32.
GuruFocus considers Air Products and Chemicals to be Fairly Valued.
Key valuation signals for MIL:1APD:
ROE %: 18.41% (13% above median its 10-year median of 16.35)
GF Value™: €253.32 vs. price of €248.80 (1.8% below fair value)
Industry Position: 254.4% above the Chemicals median (#268 of 1590)
No single metric tells the full story. See the MIL:1APD 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.
22GF Score
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