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Side-by-side financial comparison of Air Products (APD) and Cheniere Energy Partners, L.P. (CQP). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $2.9B, roughly 1.1× Cheniere Energy Partners, L.P.). Cheniere Energy Partners, L.P. runs the higher net margin — 44.2% vs 22.9%, a 21.4% gap on every dollar of revenue. On growth, Cheniere Energy Partners, L.P. posted the faster year-over-year revenue change (18.3% vs 8.8%). Over the past eight quarters, Cheniere Energy Partners, L.P.'s revenue compounded faster (12.6% CAGR vs 3.1%).
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...
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by companies, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year discontinuation of products or services. Fiscal years are for January 1 to December 31, except where noted. Empty cells indicate that no data for that year has ...
APD vs CQP — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.9B |
| Net Profit | $724.8M | $1.3B |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 50.5% |
| Net Margin | 22.9% | 44.2% |
| Revenue YoY | 8.8% | 18.3% |
| Net Profit YoY | 166.6% | 106.6% |
| EPS (diluted) | $3.19 | — |
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.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $2.9B | ||
| Q3 25 | $3.2B | $2.4B | ||
| Q2 25 | $3.0B | $2.5B | ||
| Q1 25 | $2.9B | $3.0B | ||
| Q4 24 | $2.9B | $2.5B | ||
| Q3 24 | $3.2B | $2.1B | ||
| Q2 24 | $3.0B | $1.9B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $1.3B | ||
| Q3 25 | $4.9M | $506.0M | ||
| Q2 25 | $713.8M | $553.0M | ||
| Q1 25 | $-1.7B | $641.0M | ||
| Q4 24 | $617.4M | $623.0M | ||
| Q3 24 | $1.9B | $635.0M | ||
| Q2 24 | $696.6M | $570.0M |
| Q1 26 | 31.1% | — | ||
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 50.5% | ||
| Q3 25 | 0.5% | 29.0% | ||
| Q2 25 | 26.2% | 29.1% | ||
| Q1 25 | -79.8% | 27.6% | ||
| Q4 24 | 22.0% | 33.0% | ||
| Q3 24 | 76.1% | 40.2% | ||
| Q2 24 | 24.7% | 40.4% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 44.2% | ||
| Q3 25 | 0.2% | 21.0% | ||
| Q2 25 | 23.6% | 22.5% | ||
| Q1 25 | -59.3% | 21.4% | ||
| Q4 24 | 21.1% | 25.3% | ||
| Q3 24 | 61.2% | 30.9% | ||
| Q2 24 | 23.3% | 30.1% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $3.20 | — | ||
| Q1 25 | $-7.77 | — | ||
| Q4 24 | $2.77 | — | ||
| Q3 24 | $8.75 | — | ||
| Q2 24 | $3.13 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $182.0M |
| Total DebtLower is stronger | $17.4M | $14.2B |
| Stockholders' EquityBook value | $18.1M | — |
| Total Assets | $41.6M | $17.4B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $182.0M | ||
| Q3 25 | $1.9B | $121.0M | ||
| Q2 25 | $2.3B | $108.0M | ||
| Q1 25 | $1.6B | $94.0M | ||
| Q4 24 | $2.0B | $270.0M | ||
| Q3 24 | $3.0B | $331.0M | ||
| Q2 24 | $2.4B | $351.0M |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $14.2B | ||
| Q3 25 | — | $14.2B | ||
| Q2 25 | — | $14.2B | ||
| Q1 25 | — | $14.7B | ||
| Q4 24 | — | $14.8B | ||
| Q3 24 | — | $14.8B | ||
| Q2 24 | — | $14.8B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | — | ||
| Q3 25 | $15.0B | — | ||
| Q2 25 | $15.5B | — | ||
| Q1 25 | $14.7B | — | ||
| Q4 24 | $16.7B | — | ||
| Q3 24 | $17.0B | — | ||
| Q2 24 | $15.1B | — |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $17.4B | ||
| Q3 25 | $41.1B | $16.8B | ||
| Q2 25 | $41.7B | $16.9B | ||
| Q1 25 | $38.9B | $17.1B | ||
| Q4 24 | $40.0B | $17.5B | ||
| Q3 24 | $39.6B | $17.4B | ||
| Q2 24 | $37.0B | $17.5B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $887.0M |
| Free Cash FlowOCF − Capex | — | $864.0M |
| FCF MarginFCF / Revenue | — | 29.7% |
| Capex IntensityCapex / Revenue | 56.4% | 0.8% |
| Cash ConversionOCF / Net Profit | — | 0.69× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $887.0M | ||
| Q3 25 | — | $658.0M | ||
| Q2 25 | $855.8M | $558.0M | ||
| Q1 25 | $328.1M | $665.0M | ||
| Q4 24 | $811.7M | $876.0M | ||
| Q3 24 | — | $691.0M | ||
| Q2 24 | $1.3B | $732.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $864.0M | ||
| Q3 25 | — | $610.0M | ||
| Q2 25 | $-640.0M | $490.0M | ||
| Q1 25 | $-1.6B | $605.0M | ||
| Q4 24 | $-1.3B | $827.0M | ||
| Q3 24 | — | $652.0M | ||
| Q2 24 | $-345.2M | $702.0M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 29.7% | ||
| Q3 25 | — | 25.4% | ||
| Q2 25 | -21.2% | 20.0% | ||
| Q1 25 | -53.6% | 20.2% | ||
| Q4 24 | -44.5% | 33.6% | ||
| Q3 24 | — | 31.7% | ||
| Q2 24 | -11.6% | 37.1% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 0.8% | ||
| Q3 25 | 47.9% | 2.0% | ||
| Q2 25 | 49.5% | 2.8% | ||
| Q1 25 | 64.9% | 2.0% | ||
| Q4 24 | 72.2% | 2.0% | ||
| Q3 24 | 65.1% | 1.9% | ||
| Q2 24 | 53.8% | 1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 0.69× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 1.20× | 1.01× | ||
| Q1 25 | — | 1.04× | ||
| Q4 24 | 1.31× | 1.41× | ||
| Q3 24 | — | 1.09× | ||
| Q2 24 | 1.81× | 1.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
CQP
| Liquefied Natural Gas | $2.9B | 98% |
| Regasification Service | $34.0M | 1% |
| Other | $17.0M | 1% |
