On-Site was Air Products & Chemicals’s largest segment in fiscal 2025, bringing in $2.92B of $5.65B (52%).
| Segment | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| On-Site | $3.42B | $3.14B | $2.84B | $2.92B | |||
| Merchant | $1.95B | $2.23B | $2.20B | $2.21B | |||
| Sale Of Equipment | $970.80M | $889.00M | $878.40M | $520.00M | |||
| Total | $6.34B | $6.26B | $5.92B | $5.65B |
Air Products & Chemicals brought in $5.65B from its three segments in fiscal 2025, the year ended September 30, 2025. That is less than the $12.04B it reports by geography, so these segments do not cover all of its revenue. On-Site was the largest at $2.92B (51.7%), ahead of Merchant at $2.21B (39.1%) and Sale Of Equipment at $520.00M (9.2%).
Compared with fiscal 2024, On-Site grew fastest, up 2.6% to $2.92B, while Sale Of Equipment fell the most, down 40.8% to $520.00M.
Other Foreign Operations was Air Products & Chemicals’s largest region in fiscal 2025, bringing in $5.41B of $12.04B (45%).
| Geography | FY 2010 | FY 2011 | FY 2012 | FY 2014 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other Foreign Operations | $5.48B | $5.38B | $5.24B | $5.41B | ||||||||||
| U.S | $5.23B | $5.23B | $4.91B | $4.69B | ||||||||||
| Salesrevenuenet | — | — | — | — | ||||||||||
| Europe, Including Middle East | — | — | — | — | ||||||||||
| China | $1.99B | $1.99B | $1.95B | $1.93B | ||||||||||
| Asia, Excluding China & India | — | — | — | — | ||||||||||
| Other | — | — | — | — | ||||||||||
| Total | $12.70B | $12.60B | $12.10B | $12.04B |
Air Products & Chemicals brought in $12.04B from its three regions in fiscal 2025, the year ended September 30, 2025. That was down 0.5% from $12.10B in fiscal 2024. Other Foreign Operations was the largest at $5.41B (45.0%), ahead of U.S at $4.69B (39.0%) and China at $1.93B (16.1%).
Compared with fiscal 2024, Other Foreign Operations grew fastest, up 3.4% to $5.41B, while U.S fell the most, down 4.5% to $4.69B. From fiscal 2022 to 2025, combined revenue from these regions fell from $12.70B to $12.04B, a compound annual decline of 1.8%. Other Foreign Operations' share of the total rose from 43.1% to 45.0%.
Americas was Air Products & Chemicals’s largest segment in fiscal 2025, bringing in $2.92B of $7.76B (38%).
| Statement Business Segments | FY 2010 | FY 2011 | FY 2012 | FY 2014 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Industrial Gases - Americas | — | — | — | — | ||||||||||
| Salesrevenuenet | — | — | — | — | ||||||||||
| Americas | $3.42B | $3.14B | $2.20B | $2.92B | ||||||||||
| Europe | $1.79B | $2.96B | $2.82B | $1.99B | ||||||||||
| Asia | $1.83B | $1.92B | $2.07B | $2.19B | ||||||||||
| Industrial Gases - Asia | — | — | — | — | ||||||||||
| Industrial Gases - Emea | — | — | — | — | ||||||||||
| Corporate & Other | $970.80M | $889.00M | $878.40M | $520.00M | ||||||||||
| Industrial Gases - Global | — | — | — | — | ||||||||||
| Middle East & India | $129.50M | $162.50M | $134.40M | $135.90M | ||||||||||
| Total | $8.15B | $9.08B | $8.10B | $7.76B |
Air Products & Chemicals brought in $7.76B from its five segments in fiscal 2025, the year ended September 30, 2025. That is less than the $12.04B it reports by geography, so these segments do not cover all of its revenue. Americas was the largest at $2.92B (37.6%), ahead of Asia at $2.19B (28.2%) and Europe at $1.99B (25.7%). The other two segments brought in $655.90M combined.
Compared with fiscal 2024, Americas grew fastest, up 32.9% to $2.92B, while Corporate & Other fell the most, down 40.8% to $520.00M.
Air Products & Chemicals (APD) reports its revenue by segment, by geography and by statement business segments. In fiscal 2025, On-Site was its largest segment, bringing in $2.92B (51.7% of the total), followed by Merchant at $2.21B (39.1%).
On-Site was Air Products & Chemicals' largest segment in fiscal 2025, bringing in $2.92B, or 51.7% of the $5.65B total across its three segments.
Other Foreign Operations was Air Products & Chemicals' largest region in fiscal 2025, bringing in $5.41B, or 45.0% of the $12.04B total across its three regions.
Among Air Products & Chemicals' segments that make up at least 2% of revenue, On-Site grew fastest in fiscal 2025, up 2.6% from $2.84B to $2.92B.
Every figure comes from Air Products & Chemicals' annual financial filings, as reported. Each line keeps the name Air Products & Chemicals gives it, and years follow its fiscal calendar.
Air Products & Chemicals' revenue by segment goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.