WallStSmart
APD

Air Products and Chemicals Inc

NYSE: APD · BASIC MATERIALS · SPECIALTY CHEMICALS

$300.05
-0.81% today

Updated 2026-04-30

Market cap
$67.35B
P/E ratio
—
P/S ratio
5.52x
EPS (TTM)
$-1.46
Dividend yield
2.36%
52W range
$226 – $307
Volume
1.3M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Air Products and Chemicals Inc (APD) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$300.05
Consensus
$301.00
+0.32%
2030 Target
$882.36
+194.07%
DCF
$161.81
-85.43% MoS
26 analysts:
9 Buy10 Hold1 Sell

Management guidance

No specific revenue guidance provided by management in the disclosed materials. Latest CEO commentary focuses on project execution (Rotterdam hydrogen plant 65% complete, on-track for 2027 start), NASA contracts ($140M+), and maintaining FY26 adjusted EPS outlook. No stated revenue targets through 2030.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,441.19
$16.1B Rev × 20x P/S
Base case (2030)
$882.36
$16.1B Rev × 12x P/S
Bear case (2030)
$588.24
$16.1B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$12.6B$12.1B$12.0B$12.7B$13.5B$14.3B$15.2B$16.1B
Revenue growth—-4.0%-0.5%5.8%6.0%6.0%6.1%6.1%
EPS$11.51$12.43$3.16$13.19$14.20$15.25$16.45$17.70
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$676.48$735.30$764.71$823.54$882.36

Catalysts & risks

Growth catalysts
+ Rotterdam liquid hydrogen plant operational in 2027 (capacity expansion for European market)
+ NASA contract fulfillment and hydrogen infrastructure expansion ($140M+ awarded contracts)
+ Helium supply tightening from Iran geopolitical tensions (rising helium prices benefit APD's gas portfolio)
+ Low-carbon hydrogen transition capex deployment (significant customer capex commitments pending hydrogen infrastructure buildout)
+ Onsite revenue model resilience (contracted, recurring revenue from industrial gas customers)
+ Dividend growth continuation (recent hike to $1.81/share indicates management confidence)
Key risks
- Negative current profitability (profit margin -2.7%, EPS TTM -$1.47) suggests one-time charges or major project costs impacting near-term earnings
- High capex intensity for hydrogen projects creates execution risk and balance sheet pressure through 2028-2030
- Cyclical industrial gases demand (APD exposed to manufacturing, refining, semiconductor capex cycles)
- Macroeconomic slowdown could defer customer capex commitments and project timelines
- Valuation risk: P/S ratio 5.36x vs. industry; Forward P/E 20.98x with modest 6-7% growth consensus
- Analyst downgrades in Dec 2025/early 2026 (Citi, UBS, Wells Fargo rating cuts) suggest recent cautious sentiment reversal

Methodology

Air Products and Chemicals Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 26 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.