Air Products & Chemicals (APD) Research & Development (2009 - 2026)
Air Products & Chemicals' Research & Development came in at $21.5 million for fiscal Q3 2026 (quarter ended Jun 30, 2026), down 10.8% from $24.1 million a year earlier and down 0.5% from the prior quarter.
Air Products & Chemicals (APD) Research & Development (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Air Products & Chemicals reported Research & Development of $90.8 million, down 0.3% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $96.3 million, down 3.9% from FY2024.
- Research & Development carries a five-year compound annual growth rate of 2.8% (FY2020 to FY2025).
- Going back by fiscal year, Research & Development was $100.2 million in FY2024 (-5.1%), $105.6 million in FY2023 (+2.6%), $102.9 million in FY2022 (+10.1%) and $93.5 million in FY2021 (+11.4%).
- The five-year range for quarterly Research & Development is $20.4 million (fiscal Q1 2026) to $31.1 million (fiscal Q4 2022).
- Year-over-year, Research & Development has declined for three consecutive quarters, with an average decline of 5.7% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in fiscal Q4 2025 (growth of 23.5%), and the weakest in fiscal Q4 2023 (a decline of 20.6%).
- Business Quant data shows APD's Research & Development at $21.6 million (Q2 2026), $20.4 million (Q1 2026) and $27.3 million (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Linde | 217.60 Bn | 200.72 Bn | 4.43 Bn | 37.00 Mn |
| 2 | Corning | 130.50 Bn | 123.63 Bn | 1.63 Bn | 299.00 Mn |
| 3 | Sherwin Williams | 80.80 Bn | 79.84 Bn | 3.34 Bn | - |
| 4 | Air Products & Chemicals | 62.07 Bn | 59.97 Bn | 1.04 Bn | 21.50 Mn |
| 5 | Corteva | 51.85 Bn | 40.65 Bn | 3.66 Bn | 388.00 Mn |
| 6 | LyondellBasell Industries | 37.65 Bn | 27.27 Bn | 2.04 Bn | 34.00 Mn |
| 7 | Nutrien | 34.70 Bn | 31.57 Bn | 3.25 Bn | - |
| 8 | Qnity Electronics | 26.13 Bn | 23.56 Bn | 666.00 Mn | 98.00 Mn |
| 9 | Ati | 24.61 Bn | 22.75 Bn | 309.80 Mn | - |
| 10 | Ppg Industries | 23.77 Bn | 16.57 Bn | 1.81 Bn | 107.00 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.50 Mn |
| Mar 31, 2026 | 21.60 Mn |
| Dec 31, 2025 | 20.40 Mn |
| Sep 30, 2025 | 27.30 Mn |
| Jun 30, 2025 | 24.10 Mn |
| Mar 31, 2025 | 22.90 Mn |
| Dec 31, 2024 | 22.00 Mn |
| Sep 30, 2024 | 22.10 Mn |
| Jun 30, 2024 | 27.00 Mn |
| Mar 31, 2024 | 25.40 Mn |
| Dec 31, 2023 | 25.70 Mn |
| Sep 30, 2023 | 24.70 Mn |
| Jun 30, 2023 | 29.30 Mn |
| Mar 31, 2023 | 27.20 Mn |
| Dec 31, 2022 | 24.40 Mn |
| Sep 30, 2022 | 31.10 Mn |
| Jun 30, 2022 | 24.80 Mn |
| Mar 31, 2022 | 23.70 Mn |
| Dec 31, 2021 | 23.30 Mn |
| Sep 30, 2021 | 25.70 Mn |
Air Products & Chemicals Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=APD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "APD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=APD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();