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Side-by-side financial comparison of Air Products (APD) and CENTURY ALUMINUM CO (CENX). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.1B vs $633.7M, roughly 4.9× CENTURY ALUMINUM CO). Air Products runs the higher net margin — 21.9% vs 0.3%, a 21.6% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (5.8% vs 0.4%). CENTURY ALUMINUM CO produced more free cash flow last quarter ($67.7M vs $-350.5M). Over the past eight quarters, CENTURY ALUMINUM CO's revenue compounded faster (13.8% CAGR vs 2.9%).
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...
Century Aluminum Company is a US-based producer of primary aluminum, with aluminum plants in Kentucky, South Carolina and Iceland. It is the largest producer of primary aluminum in the United States. The company is a publicly held corporation listed on the NASDAQ. The headquarters is at One South Wacker in Chicago.
APD vs CENX — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $633.7M |
| Net Profit | $678.2M | $1.8M |
| Gross Margin | 32.1% | 13.0% |
| Operating Margin | 23.7% | 5.2% |
| Net Margin | 21.9% | 0.3% |
| Revenue YoY | 5.8% | 0.4% |
| Net Profit YoY | 9.8% | -96.0% |
| EPS (diluted) | $3.04 | $0.03 |
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 | $633.7M | ||
| Q3 25 | $3.2B | $632.2M | ||
| Q2 25 | $3.0B | $628.1M | ||
| Q1 25 | $2.9B | $633.9M | ||
| Q4 24 | $2.9B | $630.9M | ||
| Q3 24 | $3.2B | $539.1M | ||
| Q2 24 | $3.0B | $560.8M | ||
| Q1 24 | $2.9B | $489.5M |
| Q4 25 | $678.2M | $1.8M | ||
| Q3 25 | $4.9M | $14.9M | ||
| Q2 25 | $713.8M | $-4.6M | ||
| Q1 25 | $-1.7B | $29.7M | ||
| Q4 24 | $617.4M | $45.2M | ||
| Q3 24 | $1.9B | $47.3M | ||
| Q2 24 | $696.6M | $-2.5M | ||
| Q1 24 | $572.4M | $246.8M |
| Q4 25 | 32.1% | 13.0% | ||
| Q3 25 | 32.3% | 12.2% | ||
| Q2 25 | 32.5% | 5.8% | ||
| Q1 25 | 29.6% | 9.6% | ||
| Q4 24 | 31.2% | 10.5% | ||
| Q3 24 | 34.0% | 15.2% | ||
| Q2 24 | 32.8% | 3.6% | ||
| Q1 24 | 32.0% | 3.4% |
| Q4 25 | 23.7% | 5.2% | ||
| Q3 25 | 0.5% | 9.2% | ||
| Q2 25 | 26.2% | 3.3% | ||
| Q1 25 | -79.8% | 7.3% | ||
| Q4 24 | 22.0% | 7.8% | ||
| Q3 24 | 76.1% | 11.8% | ||
| Q2 24 | 24.7% | 1.1% | ||
| Q1 24 | 21.7% | 0.4% |
| Q4 25 | 21.9% | 0.3% | ||
| Q3 25 | 0.2% | 2.4% | ||
| Q2 25 | 23.6% | -0.7% | ||
| Q1 25 | -59.3% | 4.7% | ||
| Q4 24 | 21.1% | 7.2% | ||
| Q3 24 | 61.2% | 8.8% | ||
| Q2 24 | 23.3% | -0.4% | ||
| Q1 24 | 19.5% | 50.4% |
| Q4 25 | $3.04 | $0.03 | ||
| Q3 25 | $0.03 | $0.15 | ||
| Q2 25 | $3.20 | $-0.05 | ||
| Q1 25 | $-7.77 | $0.29 | ||
| Q4 24 | $2.77 | $0.58 | ||
| Q3 24 | $8.75 | $0.46 | ||
| Q2 24 | $3.13 | $-0.03 | ||
| Q1 24 | $2.57 | $2.26 |
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 | $134.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.4B | $805.6M |
| Total Assets | $41.2B | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $134.2M | ||
| Q3 25 | $1.9B | $151.4M | ||
| Q2 25 | $2.3B | $40.7M | ||
| Q1 25 | $1.6B | $44.9M | ||
| Q4 24 | $2.0B | $32.9M | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | $41.3M | ||
| Q1 24 | $2.6B | $93.5M |
| Q4 25 | $15.4B | $805.6M | ||
| Q3 25 | $15.0B | $741.8M | ||
| Q2 25 | $15.5B | $724.4M | ||
| Q1 25 | $14.7B | $726.3M | ||
| Q4 24 | $16.7B | $694.4M | ||
| Q3 24 | $17.0B | $628.5M | ||
| Q2 24 | $15.1B | $601.5M | ||
| Q1 24 | $14.9B | $601.5M |
| Q4 25 | $41.2B | $2.3B | ||
| Q3 25 | $41.1B | $2.1B | ||
| Q2 25 | $41.7B | $1.9B | ||
| Q1 25 | $38.9B | $2.0B | ||
| Q4 24 | $40.0B | $1.9B | ||
| Q3 24 | $39.6B | $2.1B | ||
| Q2 24 | $37.0B | $1.8B | ||
| Q1 24 | $35.9B | $1.8B |
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 | $102.8M |
| Free Cash FlowOCF − Capex | $-350.5M | $67.7M |
| FCF MarginFCF / Revenue | -11.3% | 10.7% |
| Capex IntensityCapex / Revenue | 40.3% | 5.5% |
| Cash ConversionOCF / Net Profit | 1.33× | 57.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $84.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $102.8M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | $855.8M | $7.9M | ||
| Q1 25 | $328.1M | $72.3M | ||
| Q4 24 | $811.7M | $-41.4M | ||
| Q3 24 | — | $20.1M | ||
| Q2 24 | $1.3B | $11.5M | ||
| Q1 24 | $801.7M | $-14.8M |
| Q4 25 | $-350.5M | $67.7M | ||
| Q3 25 | — | $-18.1M | ||
| Q2 25 | $-640.0M | $-15.9M | ||
| Q1 25 | $-1.6B | $51.1M | ||
| Q4 24 | $-1.3B | $-54.6M | ||
| Q3 24 | — | $-2.4M | ||
| Q2 24 | $-345.2M | $-5.4M | ||
| Q1 24 | $-867.7M | $-44.5M |
| Q4 25 | -11.3% | 10.7% | ||
| Q3 25 | — | -2.9% | ||
| Q2 25 | -21.2% | -2.5% | ||
| Q1 25 | -53.6% | 8.1% | ||
| Q4 24 | -44.5% | -8.7% | ||
| Q3 24 | — | -0.4% | ||
| Q2 24 | -11.6% | -1.0% | ||
| Q1 24 | -29.6% | -9.1% |
| Q4 25 | 40.3% | 5.5% | ||
| Q3 25 | 47.9% | 3.2% | ||
| Q2 25 | 49.5% | 3.8% | ||
| Q1 25 | 64.9% | 3.3% | ||
| Q4 24 | 72.2% | 2.1% | ||
| Q3 24 | 65.1% | 4.2% | ||
| Q2 24 | 53.8% | 3.0% | ||
| Q1 24 | 57.0% | 6.1% |
| Q4 25 | 1.33× | 57.11× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | 2.43× | ||
| Q4 24 | 1.31× | -0.92× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | 1.81× | — | ||
| Q1 24 | 1.40× | -0.06× |
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% |
CENX
| Aluminum | $566.3M | 89% |
| Alumina | $67.4M | 11% |
