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Side-by-side financial comparison of Air Products (APD) and CVR ENERGY INC (CVI). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $2.0B, roughly 1.6× CVR ENERGY INC). Air Products runs the higher net margin — 22.9% vs -8.1%, a 30.9% gap on every dollar of revenue. On growth, CVR ENERGY INC posted the faster year-over-year revenue change (20.3% vs 8.8%). Over the past eight quarters, Air Products's revenue compounded faster (3.1% CAGR vs 0.3%).
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...
CVR Energy Inc is a United States-based energy holding company operating two core segments: petroleum refining and nitrogen fertilizer manufacturing. It produces a wide range of products including gasoline, diesel, jet fuel, and agricultural fertilizers, primarily serving commercial, industrial and agricultural customers across North America.
APD vs CVI — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.0B |
| Net Profit | $724.8M | $-160.0M |
| Gross Margin | 31.1% | -5.2% |
| Operating Margin | — | — |
| Net Margin | 22.9% | -8.1% |
| Revenue YoY | 8.8% | 20.3% |
| Net Profit YoY | 166.6% | -56.1% |
| EPS (diluted) | $3.19 | $-1.91 |
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 | $2.0B | ||
| Q4 25 | $3.1B | $1.8B | ||
| Q3 25 | $3.2B | $1.9B | ||
| Q2 25 | $3.0B | $1.8B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $2.9B | $1.9B | ||
| Q3 24 | $3.2B | $1.8B | ||
| Q2 24 | $3.0B | $2.0B |
| Q1 26 | $724.8M | $-160.0M | ||
| Q4 25 | $678.2M | $-110.0M | ||
| Q3 25 | $4.9M | $374.0M | ||
| Q2 25 | $713.8M | $-114.0M | ||
| Q1 25 | $-1.7B | $-123.0M | ||
| Q4 24 | $617.4M | $28.0M | ||
| Q3 24 | $1.9B | $-124.0M | ||
| Q2 24 | $696.6M | $21.0M |
| Q1 26 | 31.1% | -5.2% | ||
| Q4 25 | 32.1% | -3.1% | ||
| Q3 25 | 32.3% | 28.8% | ||
| Q2 25 | 32.5% | -3.7% | ||
| Q1 25 | 29.6% | -5.5% | ||
| Q4 24 | 31.2% | 3.0% | ||
| Q3 24 | 34.0% | -3.9% | ||
| Q2 24 | 32.8% | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | -5.3% | ||
| Q3 25 | 0.5% | 26.3% | ||
| Q2 25 | 26.2% | -5.8% | ||
| Q1 25 | -79.8% | -8.0% | ||
| Q4 24 | 22.0% | 1.1% | ||
| Q3 24 | 76.1% | -6.2% | ||
| Q2 24 | 24.7% | 1.4% |
| Q1 26 | 22.9% | -8.1% | ||
| Q4 25 | 21.9% | -6.1% | ||
| Q3 25 | 0.2% | 19.2% | ||
| Q2 25 | 23.6% | -6.5% | ||
| Q1 25 | -59.3% | -7.5% | ||
| Q4 24 | 21.1% | 1.4% | ||
| Q3 24 | 61.2% | -6.8% | ||
| Q2 24 | 23.3% | 1.1% |
| Q1 26 | $3.19 | $-1.91 | ||
| Q4 25 | $3.04 | $-1.09 | ||
| Q3 25 | $0.03 | $3.72 | ||
| Q2 25 | $3.20 | $-1.14 | ||
| Q1 25 | $-7.77 | $-1.22 | ||
| Q4 24 | $2.77 | $0.28 | ||
| Q3 24 | $8.75 | $-1.24 | ||
| Q2 24 | $3.13 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $512.0M |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | — |
| Total Assets | $41.6M | $3.9B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $512.0M | ||
| Q4 25 | $1.0B | $511.0M | ||
| Q3 25 | $1.9B | $670.0M | ||
| Q2 25 | $2.3B | $596.0M | ||
| Q1 25 | $1.6B | $695.0M | ||
| Q4 24 | $2.0B | $987.0M | ||
| Q3 24 | $3.0B | $534.0M | ||
| Q2 24 | $2.4B | $586.0M |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.9B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $730.0M | ||
| Q3 25 | $15.0B | $840.0M | ||
| Q2 25 | $15.5B | $466.0M | ||
| Q1 25 | $14.7B | $580.0M | ||
| Q4 24 | $16.7B | $703.0M | ||
| Q3 24 | $17.0B | $675.0M | ||
| Q2 24 | $15.1B | $849.0M |
| Q1 26 | $41.6M | $3.9B | ||
| Q4 25 | $41.2B | $3.7B | ||
| Q3 25 | $41.1B | $4.0B | ||
| Q2 25 | $41.7B | $4.0B | ||
| Q1 25 | $38.9B | $4.3B | ||
| Q4 24 | $40.0B | $4.3B | ||
| Q3 24 | $39.6B | $3.9B | ||
| Q2 24 | $37.0B | $4.0B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | 2.40× | ||
| Q3 25 | — | 2.17× | ||
| Q2 25 | — | 3.97× | ||
| Q1 25 | — | 3.29× | ||
| Q4 24 | — | 2.71× | ||
| Q3 24 | — | 2.33× | ||
| Q2 24 | — | 1.86× |
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 | — | — |
| Free Cash FlowOCF − Capex | — | $21.0M |
| FCF MarginFCF / Revenue | — | 1.1% |
| Capex IntensityCapex / Revenue | 56.4% | 1.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $0 | ||
| Q3 25 | — | $163.0M | ||
| Q2 25 | $855.8M | $176.0M | ||
| Q1 25 | $328.1M | $-195.0M | ||
| Q4 24 | $811.7M | $98.0M | ||
| Q3 24 | — | $48.0M | ||
| Q2 24 | $1.3B | $81.0M |
| Q1 26 | — | $21.0M | ||
| Q4 25 | $-350.5M | — | ||
| Q3 25 | — | $125.0M | ||
| Q2 25 | $-640.0M | $135.0M | ||
| Q1 25 | $-1.6B | $-246.0M | ||
| Q4 24 | $-1.3B | $43.0M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | $-345.2M | $38.0M |
| Q1 26 | — | 1.1% | ||
| Q4 25 | -11.3% | — | ||
| Q3 25 | — | 6.4% | ||
| Q2 25 | -21.2% | 7.7% | ||
| Q1 25 | -53.6% | -14.9% | ||
| Q4 24 | -44.5% | 2.2% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | -11.6% | 1.9% |
| Q1 26 | 56.4% | 1.5% | ||
| Q4 25 | 40.3% | 3.0% | ||
| Q3 25 | 47.9% | 2.0% | ||
| Q2 25 | 49.5% | 2.3% | ||
| Q1 25 | 64.9% | 3.1% | ||
| Q4 24 | 72.2% | 2.8% | ||
| Q3 24 | 65.1% | 1.9% | ||
| Q2 24 | 53.8% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | 0.44× | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.31× | 3.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.81× | 3.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
