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Side-by-side financial comparison of Air Products (APD) and Edison International (EIX). Click either name above to swap in a different company.
Edison International is the larger business by last-quarter revenue ($5.2B vs $3.1B, roughly 1.7× Air Products). Edison International runs the higher net margin — 35.4% vs 21.9%, a 13.6% gap on every dollar of revenue. On growth, Edison International posted the faster year-over-year revenue change (30.8% vs 5.8%). Edison International produced more free cash flow last quarter ($-319.0M vs $-350.5M). Over the past eight quarters, Edison International's revenue compounded faster (13.1% 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...
Edison International is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and unregulated non-utility business assets Edison Energy. Edison's roots trace back to Holt & Knupps, a company founded in 1886 as a provider of street lights in Visalia, California.
APD vs EIX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $5.2B |
| Net Profit | $678.2M | $1.8B |
| Gross Margin | 32.1% | — |
| Operating Margin | 23.7% | 52.8% |
| Net Margin | 21.9% | 35.4% |
| Revenue YoY | 5.8% | 30.8% |
| Net Profit YoY | 9.8% | 443.5% |
| EPS (diluted) | $3.04 | $4.78 |
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 | $5.2B | ||
| Q3 25 | $3.2B | $5.8B | ||
| Q2 25 | $3.0B | $4.5B | ||
| Q1 25 | $2.9B | $3.8B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $3.2B | $5.2B | ||
| Q2 24 | $3.0B | $4.3B | ||
| Q1 24 | $2.9B | $4.1B |
| Q4 25 | $678.2M | $1.8B | ||
| Q3 25 | $4.9M | $832.0M | ||
| Q2 25 | $713.8M | $343.0M | ||
| Q1 25 | $-1.7B | $1.4B | ||
| Q4 24 | $617.4M | $340.0M | ||
| Q3 24 | $1.9B | $516.0M | ||
| Q2 24 | $696.6M | $439.0M | ||
| Q1 24 | $572.4M | $-11.0M |
| 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 24 | 32.0% | — |
| Q4 25 | 23.7% | 52.8% | ||
| Q3 25 | 0.5% | 24.9% | ||
| Q2 25 | 26.2% | 17.1% | ||
| Q1 25 | -79.8% | 56.0% | ||
| Q4 24 | 22.0% | 19.8% | ||
| Q3 24 | 76.1% | 19.1% | ||
| Q2 24 | 24.7% | 20.8% | ||
| Q1 24 | 21.7% | 6.0% |
| Q4 25 | 21.9% | 35.4% | ||
| Q3 25 | 0.2% | 14.5% | ||
| Q2 25 | 23.6% | 7.6% | ||
| Q1 25 | -59.3% | 37.7% | ||
| Q4 24 | 21.1% | 8.5% | ||
| Q3 24 | 61.2% | 9.9% | ||
| Q2 24 | 23.3% | 10.1% | ||
| Q1 24 | 19.5% | -0.3% |
| Q4 25 | $3.04 | $4.78 | ||
| Q3 25 | $0.03 | $2.16 | ||
| Q2 25 | $3.20 | $0.89 | ||
| Q1 25 | $-7.77 | $3.72 | ||
| Q4 24 | $2.77 | $0.89 | ||
| Q3 24 | $8.75 | $1.32 | ||
| Q2 24 | $3.13 | $1.13 | ||
| Q1 24 | $2.57 | $-0.03 |
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 | $158.0M |
| Total DebtLower is stronger | — | $38.0B |
| Stockholders' EquityBook value | $15.4B | $17.6B |
| Total Assets | $41.2B | $94.0B |
| Debt / EquityLower = less leverage | — | 2.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $158.0M | ||
| Q3 25 | $1.9B | $364.0M | ||
| Q2 25 | $2.3B | $140.0M | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $2.0B | $193.0M | ||
| Q3 24 | $3.0B | $200.0M | ||
| Q2 24 | $2.4B | $465.0M | ||
| Q1 24 | $2.6B | $992.0M |
| Q4 25 | — | $38.0B | ||
| Q3 25 | — | $36.4B | ||
| Q2 25 | — | $37.7B | ||
| Q1 25 | — | $38.4B | ||
| Q4 24 | — | $35.6B | ||
| Q3 24 | — | $34.9B | ||
| Q2 24 | — | $34.8B | ||
| Q1 24 | — | $34.7B |
| Q4 25 | $15.4B | $17.6B | ||
| Q3 25 | $15.0B | $17.2B | ||
| Q2 25 | $15.5B | $16.7B | ||
| Q1 25 | $14.7B | $16.6B | ||
| Q4 24 | $16.7B | $15.6B | ||
| Q3 24 | $17.0B | $15.7B | ||
| Q2 24 | $15.1B | $15.4B | ||
| Q1 24 | $14.9B | $15.2B |
| Q4 25 | $41.2B | $94.0B | ||
| Q3 25 | $41.1B | $90.5B | ||
| Q2 25 | $41.7B | $88.8B | ||
| Q1 25 | $38.9B | $88.4B | ||
| Q4 24 | $40.0B | $85.6B | ||
| Q3 24 | $39.6B | $84.7B | ||
| Q2 24 | $37.0B | $84.8B | ||
| Q1 24 | $35.9B | $83.6B |
| Q4 25 | — | 2.16× | ||
| Q3 25 | — | 2.12× | ||
| Q2 25 | — | 2.26× | ||
| Q1 25 | — | 2.31× | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | — | 2.23× | ||
| Q2 24 | — | 2.26× | ||
| Q1 24 | — | 2.29× |
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 | $1.6B |
| Free Cash FlowOCF − Capex | $-350.5M | $-319.0M |
| FCF MarginFCF / Revenue | -11.3% | -6.1% |
| Capex IntensityCapex / Revenue | 40.3% | 36.3% |
| Cash ConversionOCF / Net Profit | 1.33× | 0.85× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-715.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $1.6B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | $855.8M | $882.0M | ||
| Q1 25 | $328.1M | $1.2B | ||
| Q4 24 | $811.7M | $1.2B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | $1.3B | $329.0M | ||
| Q1 24 | $801.7M | $1.0B |
| Q4 25 | $-350.5M | $-319.0M | ||
| Q3 25 | — | $618.0M | ||
| Q2 25 | $-640.0M | $-830.0M | ||
| Q1 25 | $-1.6B | $-184.0M | ||
| Q4 24 | $-1.3B | $-326.0M | ||
| Q3 24 | — | $961.0M | ||
| Q2 24 | $-345.2M | $-1.1B | ||
| Q1 24 | $-867.7M | $-236.0M |
| Q4 25 | -11.3% | -6.1% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | -21.2% | -18.3% | ||
| Q1 25 | -53.6% | -4.8% | ||
| Q4 24 | -44.5% | -8.2% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | -11.6% | -25.2% | ||
| Q1 24 | -29.6% | -5.8% |
| Q4 25 | 40.3% | 36.3% | ||
| Q3 25 | 47.9% | 26.2% | ||
| Q2 25 | 49.5% | 37.7% | ||
| Q1 25 | 64.9% | 36.9% | ||
| Q4 24 | 72.2% | 37.6% | ||
| Q3 24 | 65.1% | 29.1% | ||
| Q2 24 | 53.8% | 32.8% | ||
| Q1 24 | 57.0% | 31.4% |
| Q4 25 | 1.33× | 0.85× | ||
| Q3 25 | — | 2.55× | ||
| Q2 25 | 1.20× | 2.57× | ||
| Q1 25 | — | 0.85× | ||
| Q4 24 | 1.31× | 3.44× | ||
| Q3 24 | — | 4.79× | ||
| Q2 24 | 1.81× | 0.75× | ||
| Q1 24 | 1.40× | — |
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% |
EIX
| Commercial | $2.2B | 43% |
| Residential | $1.2B | 23% |
| Other | $966.0M | 19% |
| Other Operating Revenue | $802.0M | 15% |
