Air Products and Chemicals price to free cash flow APD

Market value divided by free cash flow over the last twelve months, since 2010.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 286×; Jan 2023
10-year median: 53.5×
10-year range: 16.6× to 289×
Peer median: 21.7×

Air Products and Chemicals' price to free cash flow is not a meaningful number today: free cash flow over the last twelve months was zero, negative or not reported.

It was last meaningful in Jan 2023, at 286×.

On the days it had one over the last ten years, its median was 53.5×, from 16.6× in Apr 2017 to 289× in Dec 2022.

Price to free cash flow over time

median 53.5×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2023	286×	277×	286×
2022	280×	55.2×	289×
2021	77.4×	39.3×	99.4×
2020	79.9×	43.5×	150×
2019	53.0×	34.9×	68.3×
2018	35.8×	19.9×	35.8×
2017	24.0×	16.6×	24.7×
2016	18.9×	18.6×	29.4×
2015	31.5×	30.9×	80.7×
2014	58.7×	54.3×	91.0×
2013	212×	69.9×	213×
2012	66.9×	37.9×	67.9×
2011	41.3×	27.7×	46.5×
2010	36.7×	30.9×	46.2×

Against its peers

Companies in Chemicals - Specialty nearest Air Products and Chemicals' size, closest first, today.

Company	Price to free cash flow
APDAir Products and Chemicals	n/m
ECLEcolab	43.1×
SHWSherwin-Williams	25.5×
PPGPPG Industries	17.5×
IFFInternational Flavors & Fragrances	44.5×
LYBLyondellBasell Industries	13.6×
LINLinde	47.1×
RPMRPM International	17.8×
CLXClorox	25.8×
NEUNewmarket	16.9×
AXTAAxalta Coating Systems	14.8×
Peer median	21.7×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Air Products and Chemicals

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.