Net Profit Margin
since 2005
Calculation
Air Products & Chemicals Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income attributable to Air Products1 | ÷ | Sales1 | |
|---|---|---|---|---|---|---|---|
| Sep 30, 2020 | 21.30% | = | 100 | × | 1,886,700) | ÷ | 8,856,300) |
| Sep 30, 2019 | 19.73% | = | 100 | × | 1,760,000) | ÷ | 8,918,900) |
| Sep 30, 2018 | 16.77% | = | 100 | × | 1,497,800) | ÷ | 8,930,200) |
| Sep 30, 2017 | 36.65% | = | 100 | × | 3,000,400) | ÷ | 8,187,600) |
| Sep 30, 2016 | 6.63% | = | 100 | × | 631,100) | ÷ | 9,524,400) |
| Sep 30, 2015 | 12.91% | = | 100 | × | 1,277,900) | ÷ | 9,894,900) |
| Sep 30, 2014 | 9.50% | = | 100 | × | 991,700) | ÷ | 10,439,000) |
| Sep 30, 2013 | 9.77% | = | 100 | × | 994,200) | ÷ | 10,180,400) |
| Sep 30, 2012 | 12.14% | = | 100 | × | 1,167,300) | ÷ | 9,611,700) |
| Sep 30, 2011 | 12.14% | = | 100 | × | 1,224,200) | ÷ | 10,082,000) |
| Sep 30, 2010 | 11.40% | = | 100 | × | 1,029,100) | ÷ | 9,026,000) |
| Sep 30, 2009 | 7.65% | = | 100 | × | 631,300) | ÷ | 8,256,200) |
| Sep 30, 2008 | 8.73% | = | 100 | × | 909,700) | ÷ | 10,414,500) |
| Sep 30, 2007 | 10.32% | = | 100 | × | 1,035,600) | ÷ | 10,037,800) |
| Sep 30, 2006 | 8.17% | = | 100 | × | 723,400) | ÷ | 8,850,400) |
| Sep 30, 2005 | 8.74% | = | 100 | × | 711,700) | ÷ | 8,143,500) |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in thousands
The net profit margin exhibited significant volatility over the fifteen-year period, characterized by an initial phase of relative stability followed by a period of extreme fluctuation and a final trend of sustained expansion.
- Initial Stability and Moderate Growth (2005–2014)
- Between 2005 and 2014, the net profit margin generally fluctuated within a range of 7.65% to 12.14%. A temporary decline reached a low of 7.65% in 2009, coinciding with a decrease in total sales. Recovery followed in 2010 and 2011, with margins reaching 12.14% before retreating to approximately 9.5% by 2014.
- Period of High Volatility (2015–2017)
- A period of intense fluctuation occurred between 2015 and 2017. After a peak of 12.91% in 2015, the margin dropped to its lowest recorded level of 6.63% in 2016. This was immediately followed by an unprecedented surge in 2017, where the net profit margin reached 36.65%. This outlier is particularly notable as it occurred despite a contraction in total sales, indicating that the spike in net income was likely driven by non-operational items or one-time gains rather than organic revenue growth.
- Structural Margin Expansion (2018–2020)
- Following the anomaly of 2017, the net profit margin established a new, higher baseline. From 2018 to 2020, the margin grew steadily from 16.77% to 21.30%. This upward trajectory suggests a fundamental improvement in profitability or a shift in the cost structure, as the margins remained consistently and significantly higher than the levels observed throughout the first decade of the period analyzed.
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Comparison to Competitors
Air Products & Chemicals Inc., net profit margin, long-term trends, comparison to competitors
| Air Products & Chemicals Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Sep 30, 2020 | 21.30% | 9.18% | 11.06% |
| Sep 30, 2019 | 19.73% | 8.09% | 8.61% |
| Sep 30, 2018 | 16.77% | 29.40% | 6.32% |
| Sep 30, 2017 | 36.65% | 10.90% | 11.83% |
| Sep 30, 2016 | 6.63% | 14.24% | 9.55% |
| Sep 30, 2015 | 12.91% | 14.36% | 9.29% |
| Sep 30, 2014 | 9.50% | 13.80% | 7.78% |
| Sep 30, 2013 | 9.77% | 14.72% | 7.39% |
| Sep 30, 2012 | 12.14% | 15.07% | 6.62% |
| Sep 30, 2011 | 12.14% | 14.86% | 5.04% |
| Sep 30, 2010 | 11.40% | 11.81% | 5.95% |
| Sep 30, 2009 | 7.65% | 14.00% | 6.14% |
| Sep 30, 2008 | 8.73% | 11.22% | 5.98% |
| Sep 30, 2007 | 10.32% | 12.52% | 7.69% |
| Sep 30, 2006 | 8.17% | 11.87% | 7.38% |
| Sep 30, 2005 | 8.74% | 9.48% | 6.44% |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Chemicals)
Air Products & Chemicals Inc., net profit margin, long-term trends, comparison to sector (chemicals)
| Air Products & Chemicals Inc. | Chemicals | |
|---|---|---|
| Sep 30, 2020 | 21.30% | 9.94% |
| Sep 30, 2019 | 19.73% | 8.29% |
| Sep 30, 2018 | 16.77% | 16.93% |
| Sep 30, 2017 | 36.65% | 11.43% |
| Sep 30, 2016 | 6.63% | 11.76% |
| Sep 30, 2015 | 12.91% | 11.76% |
| Sep 30, 2014 | 9.50% | 10.94% |
| Sep 30, 2013 | 9.77% | 11.34% |
| Sep 30, 2012 | 12.14% | 11.19% |
| Sep 30, 2011 | 12.14% | 10.56% |
| Sep 30, 2010 | 11.40% | 9.26% |
| Sep 30, 2009 | 7.65% | 10.53% |
| Sep 30, 2008 | 8.73% | 8.99% |
| Sep 30, 2007 | 10.32% | 10.30% |
| Sep 30, 2006 | 8.17% | 9.69% |
| Sep 30, 2005 | 8.74% | 8.01% |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Materials)
Air Products & Chemicals Inc., net profit margin, long-term trends, comparison to industry (materials)
| Air Products & Chemicals Inc. | Materials | |
|---|---|---|
| Sep 30, 2020 | 21.30% | 8.58% |
| Sep 30, 2019 | 19.73% | 5.93% |
| Sep 30, 2018 | 16.77% | 15.85% |
| Sep 30, 2017 | 36.65% | 11.29% |
| Sep 30, 2016 | 6.63% | -4.09% |
| Sep 30, 2015 | 12.91% | -25.36% |
| Sep 30, 2014 | 9.50% | 2.79% |
| Sep 30, 2013 | 9.77% | 12.00% |
| Sep 30, 2012 | 12.14% | 13.84% |
| Sep 30, 2011 | 12.14% | 16.32% |
| Sep 30, 2010 | 11.40% | 16.25% |
| Sep 30, 2009 | 7.65% | 14.28% |
| Sep 30, 2008 | 8.73% | -25.65% |
| Sep 30, 2007 | 10.32% | 13.89% |
| Sep 30, 2006 | 8.17% | 13.78% |
| Sep 30, 2005 | 8.74% | 11.48% |
Based on: 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).