vs
Side-by-side financial comparison of Air Products (APD) and AVIENT CORP (AVNT). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.1B vs $760.6M, roughly 4.1× AVIENT CORP). Air Products runs the higher net margin — 21.9% vs 2.2%, a 19.6% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (5.8% vs 1.9%). AVIENT CORP produced more free cash flow last quarter ($125.4M vs $-350.5M). Over the past eight quarters, Air Products's revenue compounded faster (2.9% CAGR vs -4.2%).
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasificati...
Avient Corporation is a global materials solutions company headquartered in Avon Lake, Ohio, United States, employing approximately 9,000 people worldwide. Its products include colorants, advanced composites, functional additives and engineered materials.
APD vs AVNT — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $760.6M |
| Net Profit | $678.2M | $16.9M |
| Gross Margin | 32.1% | 30.2% |
| Operating Margin | 23.7% | 5.2% |
| Net Margin | 21.9% | 2.2% |
| Revenue YoY | 5.8% | 1.9% |
| Net Profit YoY | 9.8% | -65.0% |
| EPS (diluted) | $3.04 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $3.1B | $760.6M | ||
| Q3 25 | $3.2B | $806.5M | ||
| Q2 25 | $3.0B | $866.5M | ||
| Q1 25 | $2.9B | $826.6M | ||
| Q4 24 | $2.9B | $746.5M | ||
| Q3 24 | $3.2B | $815.2M | ||
| Q2 24 | $3.0B | $849.7M | ||
| Q1 24 | $2.9B | $829.0M |
| Q4 25 | $678.2M | $16.9M | ||
| Q3 25 | $4.9M | $32.6M | ||
| Q2 25 | $713.8M | $52.6M | ||
| Q1 25 | $-1.7B | $-20.2M | ||
| Q4 24 | $617.4M | $48.3M | ||
| Q3 24 | $1.9B | $38.2M | ||
| Q2 24 | $696.6M | $33.6M | ||
| Q1 24 | $572.4M | $49.4M |
| Q4 25 | 32.1% | 30.2% | ||
| Q3 25 | 32.3% | 30.4% | ||
| Q2 25 | 32.5% | 32.1% | ||
| Q1 25 | 29.6% | 31.8% | ||
| Q4 24 | 31.2% | 34.8% | ||
| Q3 24 | 34.0% | 32.1% | ||
| Q2 24 | 32.8% | 30.3% | ||
| Q1 24 | 32.0% | 33.6% |
| Q4 25 | 23.7% | 5.2% | ||
| Q3 25 | 0.5% | 8.3% | ||
| Q2 25 | 26.2% | 11.1% | ||
| Q1 25 | -79.8% | 0.1% | ||
| Q4 24 | 22.0% | 11.5% | ||
| Q3 24 | 76.1% | 9.5% | ||
| Q2 24 | 24.7% | 8.5% | ||
| Q1 24 | 21.7% | 11.3% |
| Q4 25 | 21.9% | 2.2% | ||
| Q3 25 | 0.2% | 4.0% | ||
| Q2 25 | 23.6% | 6.1% | ||
| Q1 25 | -59.3% | -2.4% | ||
| Q4 24 | 21.1% | 6.5% | ||
| Q3 24 | 61.2% | 4.7% | ||
| Q2 24 | 23.3% | 4.0% | ||
| Q1 24 | 19.5% | 6.0% |
| Q4 25 | $3.04 | $0.18 | ||
| Q3 25 | $0.03 | $0.36 | ||
| Q2 25 | $3.20 | $0.57 | ||
| Q1 25 | $-7.77 | $-0.22 | ||
| Q4 24 | $2.77 | $0.53 | ||
| Q3 24 | $8.75 | $0.41 | ||
| Q2 24 | $3.13 | $0.36 | ||
| Q1 24 | $2.57 | $0.54 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.0B | — |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $15.4B | $2.4B |
| Total Assets | $41.2B | $6.0B |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $2.0B | ||
| Q2 25 | — | $2.0B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
| Q4 25 | $15.4B | $2.4B | ||
| Q3 25 | $15.0B | $2.4B | ||
| Q2 25 | $15.5B | $2.4B | ||
| Q1 25 | $14.7B | $2.3B | ||
| Q4 24 | $16.7B | $2.3B | ||
| Q3 24 | $17.0B | $2.4B | ||
| Q2 24 | $15.1B | $2.3B | ||
| Q1 24 | $14.9B | $2.3B |
| Q4 25 | $41.2B | $6.0B | ||
| Q3 25 | $41.1B | $6.1B | ||
| Q2 25 | $41.7B | $6.1B | ||
| Q1 25 | $38.9B | $5.8B | ||
| Q4 24 | $40.0B | $5.8B | ||
| Q3 24 | $39.6B | $6.0B | ||
| Q2 24 | $37.0B | $5.9B | ||
| Q1 24 | $35.9B | $5.9B |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.86× | ||
| Q1 25 | — | 0.90× | ||
| Q4 24 | — | 0.89× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.90× | ||
| Q1 24 | — | 0.90× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $900.7M | $167.8M |
| Free Cash FlowOCF − Capex | $-350.5M | $125.4M |
| FCF MarginFCF / Revenue | -11.3% | 16.5% |
| Capex IntensityCapex / Revenue | 40.3% | 5.6% |
| Cash ConversionOCF / Net Profit | 1.33× | 9.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $195.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $167.8M | ||
| Q3 25 | — | $72.1M | ||
| Q2 25 | $855.8M | $112.8M | ||
| Q1 25 | $328.1M | $-51.1M | ||
| Q4 24 | $811.7M | $122.6M | ||
| Q3 24 | — | $71.1M | ||
| Q2 24 | $1.3B | $105.9M | ||
| Q1 24 | $801.7M | $-42.8M |
| Q4 25 | $-350.5M | $125.4M | ||
| Q3 25 | — | $47.4M | ||
| Q2 25 | $-640.0M | $85.8M | ||
| Q1 25 | $-1.6B | $-63.6M | ||
| Q4 24 | $-1.3B | $81.5M | ||
| Q3 24 | — | $46.1M | ||
| Q2 24 | $-345.2M | $74.5M | ||
| Q1 24 | $-867.7M | $-67.2M |
| Q4 25 | -11.3% | 16.5% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | -21.2% | 9.9% | ||
| Q1 25 | -53.6% | -7.7% | ||
| Q4 24 | -44.5% | 10.9% | ||
| Q3 24 | — | 5.7% | ||
| Q2 24 | -11.6% | 8.8% | ||
| Q1 24 | -29.6% | -8.1% |
| Q4 25 | 40.3% | 5.6% | ||
| Q3 25 | 47.9% | 3.1% | ||
| Q2 25 | 49.5% | 3.1% | ||
| Q1 25 | 64.9% | 1.5% | ||
| Q4 24 | 72.2% | 5.5% | ||
| Q3 24 | 65.1% | 3.1% | ||
| Q2 24 | 53.8% | 3.7% | ||
| Q1 24 | 57.0% | 2.9% |
| Q4 25 | 1.33× | 9.93× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | 1.20× | 2.14× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | 2.54× | ||
| Q3 24 | — | 1.86× | ||
| Q2 24 | 1.81× | 3.15× | ||
| Q1 24 | 1.40× | -0.87× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
| Other | $1.6B | 53% |
| Onsite | $783.9M | 25% |
| Merchant | $557.8M | 18% |
| Saleof Equipment | $117.0M | 4% |
AVNT
| Color Additives And Inks | $466.0M | 61% |
| Specialty Engineered Materials | $295.5M | 39% |
