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Air Products and ChemicalsAPD -1.61%78 Shiller PE Ratio is 29.62 as of Sep. 03, 2026, which is 2% above its 10-year median of 29.00. GuruFocus rates APD with a GF Score™ of 78/100 and a GF Value™ of $287.56 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,081 Chemicals companies, Air Products and Chemicals ranks worse than 63% on this metric.
The historical rank and industry rank for Air Products and Chemicals's Shiller PE Ratio or its related term are showing as below:
APD'
s Shiller PE Ratio Range Over the Past 10 Years
Min: 23.07 Med: 29 Max: 43.26
Current: 29.62
During the past years, Air Products and Chemicals's highest Shiller PE Ratio was 43.26. The lowest was 23.07. And the median was 29.00.
APD's Shiller PE Ratio is ranked worse than 63% of 1081
companies
in the Chemicals industry
Industry Median: 22.19
vs APD: 29.62
E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years.
Air Products and Chemicals's adjusted earnings per share data for the three months ended in Jun. 2026 was $-6.470. Add all the adjusted EPS for the past 10 years together and divide 10 will get our E10, which is $10.28 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Air Products and Chemicals (NYSE:APD) Shiller PE Ratio Explanation
Compared with the regular PE Ratio, which works poorly for cyclical businesses, the Shiller PE Ratio smoothed out the fluctuations of profit margins during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Shiller PE Ratio should give similar results to regular PE Ratio.
Compared with the PS Ratio, the Shiller PE Ratio makes the comparison between different industries more meaningful.
Be Aware
Shiller PE Ratio assumes that over the long term, businesses and profitability revert to their means. If a company's business model does not work in the future compared with the past, Shiller PE Ratio and PS Ratio will give false valuations.
Air Products and Chemicals Shiller PE Ratio Related Terms
Air Products and Chemicals Shiller PE Ratio Historical Data
* 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 Shiller PE Ratio, along with its competitors' market caps and Shiller PE Ratio 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 Shiller PE Ratio vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Products and Chemicals's Shiller PE Ratio distribution charts can be found below:
* The bar in red indicates where Air Products and Chemicals's Shiller PE Ratio falls into.
Air Products and Chemicals Shiller PE Ratio Calculation
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. The result is used for P/E calculation. Since it looks at the average over the last 10 years, the Shiller PE Ratio is also called PE10.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The same calculation is applied here to individual companies.
* 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.
Add all the adjusted EPS together and divide 10 will get our E10.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
Air Products and Chemicals (APD) has a Shiller PE Ratio of 29.62 as of Sep. 03, 2026. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Air Products and Chemicals and its competitors. This is near median its historical median of 29.00. Over the past decade, Air Products and Chemicals' Shiller PE Ratio has ranged from 23.07 to 43.26. According to the industry distribution chart, Air Products and Chemicals ranks #681 out of 1081 companies in the Chemicals industry, placing it in the top 63%.
Is Air Products and Chemicals' Shiller PE Ratio too high?
Air Products and Chemicals' current Shiller PE Ratio of 29.62 is near median its 10-year median of 29.00. Over the past 10 years, this metric has ranged from a low of 23.07 to a high of 43.26. The Chemicals industry median Shiller PE Ratio is 22.19. Air Products and Chemicals' value of 29.62 is 33.5% above this industry median. Based on the distribution chart, Air Products and Chemicals ranks #681 out of 1081 companies in the Chemicals industry, which is below the industry midpoint. Overall, Air Products and Chemicals has a GF Score™ of 78/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Air Products and Chemicals' Shiller PE Ratio compare to ECL and SHW?
According to the Chemicals industry distribution chart, Air Products and Chemicals ranks #681 out of 1081 companies for Shiller PE Ratio. This places Air Products and Chemicals in the lower half of its industry. The industry median Shiller PE Ratio is 22.19. Air Products and Chemicals' value of 29.62 is 33.5% above this benchmark. Historically, Air Products and Chemicals' own Shiller PE Ratio has ranged from 23.07 to 43.26 over the past decade. While the company's 10-year median is 29.00 vs. the industry median of 22.19, 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 Shiller PE Ratio for a Chemicals company?
The median Shiller PE Ratio among Chemicals companies is 22.19, based on 1,081 companies in the industry. Companies in the top quartile (top 25%) have a Shiller PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Shiller PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Air Products and Chemicals's current Shiller PE Ratio of 29.62 is 33.5% 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 Shiller PE Ratio mean?
A high Shiller PE Ratio can signal that a stock is expensive relative to its fundamentals. Shiller price-earnings ratio is the ratio of share price to a company's inflation-adjusted earnings over a 10-year period. View historical data on Air Products and Chemicals and its competitors. For the Chemicals industry, the median Shiller PE Ratio is 22.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Products and Chemicals's current Shiller PE Ratio is 29.62, which is near median its own 10-year median of 29.00. 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 (APD) is currently considered Fairly Valued. The stock's GF Value™ is $287.56, compared to a current price of $304.47 — trading 5.9% above its estimated fair value. The current Shiller PE Ratio is 29.62, which is near median its 10-year median of 29.00 and 33.5% above the Chemicals industry median of 22.19. Air Products and Chemicals' overall GF Score™ is 78/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shiller PE Ratio calculated?
Shiller PE Ratio is calculated from a company's financial statements. For Air Products and Chemicals (APD), the current Shiller PE Ratio is 29.62 as of Sep. 03, 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 (APD) Overvalued in 2026?
Based on GuruFocus' analysis, Air Products and Chemicals stock appears to be overvalued.
The current stock price of $304.47 is trading 5.9% above its estimated GF Value™ of $287.56.
GuruFocus considers Air Products and Chemicals to be Fairly Valued.
Key valuation signals for APD:
Shiller PE Ratio: 29.62 (near median its 10-year median of 29.00)
GF Value™: $287.56 vs. price of $304.47 (5.9% above fair value)
Industry Position: 33.5% above the Chemicals median (#681 of 1081)
No single metric tells the full story. See the APD 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.
78GF Score
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