Americas was Air Products & Chemicals’s largest segment in fiscal 2025, bringing in $5.13B of $12.04B (43%).
| Segment | FY 2010 | FY 2011 | FY 2012 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Americas | $5.37B | $5.37B | $5.04B | $5.13B | |||||||||||
| Industrial Gases - Americas | — | — | — | — | |||||||||||
| Industrial Gases Americas | — | — | — | — | |||||||||||
| Merchant Gases | — | — | — | — | |||||||||||
| Tonnage Gases | — | — | — | — | |||||||||||
| Asia | $3.14B | $3.22B | $3.22B | $3.27B | |||||||||||
| Europe | $3.09B | $2.96B | $2.82B | $2.98B | |||||||||||
| Electronics & Performance Materials | — | — | — | — | |||||||||||
| Materials Technologies | — | — | — | — | |||||||||||
| Industrial Gases - Asia | — | — | — | — | |||||||||||
| Industrial Gases Asia | — | — | — | — | |||||||||||
| Industrial Gases - Emea | — | — | — | — | |||||||||||
| Industrial Gases Emea | — | — | — | — | |||||||||||
| Corporate & Other | $970.80M | $889.00M | $878.40M | $520.00M | |||||||||||
| Equipment & Energy | — | — | — | — | |||||||||||
| Industrial Gases - Global | — | — | — | — | |||||||||||
| Industrial Gases Global | — | — | — | — | |||||||||||
| Middle East & India | $129.50M | $162.50M | $134.40M | $135.90M | |||||||||||
| Total | $12.70B | $12.60B | $12.10B | $12.04B |
Air Products & Chemicals brought in $12.04B from its five segments in fiscal 2025, the year ended September 30, 2025. That was down 0.5% from $12.10B in fiscal 2024. Americas was the largest at $5.13B (42.6%), ahead of Asia at $3.27B (27.2%) and Europe at $2.98B (24.8%). The other two segments brought in $655.90M combined.
Compared with fiscal 2024, Europe grew fastest, up 5.7% to $2.98B, while Corporate & Other fell the most, down 40.8% to $520.00M. From fiscal 2022 to 2025, combined revenue from these segments fell from $12.70B to $12.04B, a compound annual decline of 1.8%. Americas' share held steady at about 42.6%.
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 2015 | 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 | |||||||||||
| Us | — | — | — | — | |||||||||||
| Europe, Including Middle East | — | — | — | — | |||||||||||
| Europe | — | — | — | — | |||||||||||
| Asia | — | — | — | — | |||||||||||
| China | $1.99B | $1.99B | $1.95B | $1.93B | |||||||||||
| Cn | — | — | — | — | |||||||||||
| Asia Excluding China | — | — | — | — | |||||||||||
| Asia, Excluding China & India | — | — | — | — | |||||||||||
| Other | — | — | — | — | |||||||||||
| Latin America | — | — | — | — | |||||||||||
| Ca | — | — | — | — | |||||||||||
| Latin America 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%.
On-Site was Air Products & Chemicals’s largest product and service line in fiscal 2025, bringing in $6.18B of $12.04B (51%).
| Product and Service | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| On-Site | $6.63B | $6.18B | $5.89B | $6.18B | |||
| Merchant | $5.09B | $5.53B | $5.33B | $5.34B | |||
| Sale Of Equipment | $970.80M | $889.00M | $878.40M | $520.00M | |||
| Total | $12.70B | $12.60B | $12.10B | $12.04B |
Air Products & Chemicals brought in $12.04B from its three product and service lines in fiscal 2025, the year ended September 30, 2025. That was down 0.5% from $12.10B in fiscal 2024. On-Site was the largest at $6.18B (51.3%), ahead of Merchant at $5.34B (44.3%) and Sale Of Equipment at $520.00M (4.3%).
Compared with fiscal 2024, On-Site grew fastest, up 4.9% to $6.18B, while Sale Of Equipment fell the most, down 40.8% to $520.00M. From fiscal 2022 to 2025, combined revenue from these lines fell from $12.70B to $12.04B, a compound annual decline of 1.8%. On-Site's share of the total fell from 52.2% to 51.3%.
Air Products & Chemicals (APD) reports its revenue by segment, by geography and by product and service. In fiscal 2025, Americas was its largest segment, bringing in $5.13B (42.6% of the total), followed by Asia at $3.27B (27.2%).
Americas was Air Products & Chemicals' largest segment in fiscal 2025, bringing in $5.13B, or 42.6% of the $12.04B total across its five 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.
On-Site was Air Products & Chemicals' largest product and service line in fiscal 2025, bringing in $6.18B, or 51.3% of the $12.04B total across its three product and service lines.
Among Air Products & Chemicals' segments that make up at least 2% of revenue, Europe grew fastest in fiscal 2025, up 5.7% from $2.82B to $2.98B.
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 2010, 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.