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Side-by-side financial comparison of Air Products (APD) and Dover Corporation (DOV). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $2.1B, roughly 1.5× Dover Corporation). Air Products runs the higher net margin — 22.9% vs 13.4%, a 9.4% gap on every dollar of revenue. On growth, Dover Corporation posted the faster year-over-year revenue change (12.5% vs 8.8%). Over the past eight quarters, Air Products's revenue compounded faster (3.1% CAGR vs -1.8%).
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...
Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under the symbol DOV. Dover was ranked 448 in the 2024 Fortu...
APD vs DOV — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.1B |
| Net Profit | $724.8M | $282.1M |
| Gross Margin | 31.1% | 39.1% |
| Operating Margin | — | 16.5% |
| Net Margin | 22.9% | 13.4% |
| Revenue YoY | 8.8% | 12.5% |
| Net Profit YoY | 166.6% | 22.2% |
| EPS (diluted) | $3.19 | $2.06 |
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 | $2.1B | ||
| Q4 25 | $3.1B | $2.1B | ||
| Q3 25 | $3.2B | $2.1B | ||
| Q2 25 | $3.0B | $2.0B | ||
| Q1 25 | $2.9B | $1.9B | ||
| Q4 24 | $2.9B | $1.5B | ||
| Q3 24 | $3.2B | $2.0B | ||
| Q2 24 | $3.0B | $2.2B |
| Q1 26 | $724.8M | $282.1M | ||
| Q4 25 | $678.2M | $282.1M | ||
| Q3 25 | $4.9M | $302.0M | ||
| Q2 25 | $713.8M | $279.1M | ||
| Q1 25 | $-1.7B | $230.8M | ||
| Q4 24 | $617.4M | $1.4B | ||
| Q3 24 | $1.9B | $347.1M | ||
| Q2 24 | $696.6M | $281.8M |
| Q1 26 | 31.1% | 39.1% | ||
| Q4 25 | 32.1% | 39.1% | ||
| Q3 25 | 32.3% | 40.1% | ||
| Q2 25 | 32.5% | 39.9% | ||
| Q1 25 | 29.6% | 40.0% | ||
| Q4 24 | 31.2% | 41.4% | ||
| Q3 24 | 34.0% | 38.5% | ||
| Q2 24 | 32.8% | 37.7% |
| Q1 26 | — | 16.5% | ||
| Q4 25 | 23.7% | 16.5% | ||
| Q3 25 | 0.5% | 18.2% | ||
| Q2 25 | 26.2% | 17.3% | ||
| Q1 25 | -79.8% | 15.9% | ||
| Q4 24 | 22.0% | 14.0% | ||
| Q3 24 | 76.1% | 16.8% | ||
| Q2 24 | 24.7% | 17.0% |
| Q1 26 | 22.9% | 13.4% | ||
| Q4 25 | 21.9% | 13.4% | ||
| Q3 25 | 0.2% | 14.5% | ||
| Q2 25 | 23.6% | 13.6% | ||
| Q1 25 | -59.3% | 12.4% | ||
| Q4 24 | 21.1% | 96.4% | ||
| Q3 24 | 61.2% | 17.5% | ||
| Q2 24 | 23.3% | 12.9% |
| Q1 26 | $3.19 | $2.06 | ||
| Q4 25 | $3.04 | $2.06 | ||
| Q3 25 | $0.03 | $2.19 | ||
| Q2 25 | $3.20 | $2.02 | ||
| Q1 25 | $-7.77 | $1.67 | ||
| Q4 24 | $2.77 | $10.38 | ||
| Q3 24 | $8.75 | $2.51 | ||
| Q2 24 | $3.13 | $2.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $17.4M | $3.3B |
| Stockholders' EquityBook value | $18.1M | $7.4B |
| Total Assets | $41.6M | $13.4B |
| Debt / EquityLower = less leverage | 0.96× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | $17.4M | $3.3B | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $3.1B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B |
| Q1 26 | $18.1M | $7.4B | ||
| Q4 25 | $15.4B | $7.4B | ||
| Q3 25 | $15.0B | $7.7B | ||
| Q2 25 | $15.5B | $7.4B | ||
| Q1 25 | $14.7B | $7.1B | ||
| Q4 24 | $16.7B | $7.0B | ||
| Q3 24 | $17.0B | $5.7B | ||
| Q2 24 | $15.1B | $5.4B |
| Q1 26 | $41.6M | $13.4B | ||
| Q4 25 | $41.2B | $13.4B | ||
| Q3 25 | $41.1B | $13.4B | ||
| Q2 25 | $41.7B | $13.2B | ||
| Q1 25 | $38.9B | $12.6B | ||
| Q4 24 | $40.0B | $12.5B | ||
| Q3 24 | $39.6B | $11.9B | ||
| Q2 24 | $37.0B | $11.3B |
| Q1 26 | 0.96× | 0.45× | ||
| Q4 25 | — | 0.45× | ||
| Q3 25 | — | 0.40× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.55× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
