vs
Side-by-side financial comparison of Air Products (APD) and EMCOR Group, Inc. (EME). Click either name above to swap in a different company.
EMCOR Group, Inc. is the larger business by last-quarter revenue ($4.6B vs $3.2B, roughly 1.5× Air Products). Air Products runs the higher net margin — 22.9% vs 6.6%, a 16.3% gap on every dollar of revenue. On growth, EMCOR Group, Inc. posted the faster year-over-year revenue change (19.7% vs 8.8%). Over the past eight quarters, EMCOR Group, Inc.'s revenue compounded faster (12.3% 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...
EMCOR Group, Inc., is an engineering, construction, and property management company headquartered in Norwalk, Connecticut.
APD vs EME — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $4.6B |
| Net Profit | $724.8M | $305.5M |
| Gross Margin | 31.1% | 18.7% |
| Operating Margin | — | 8.7% |
| Net Margin | 22.9% | 6.6% |
| Revenue YoY | 8.8% | 19.7% |
| Net Profit YoY | 166.6% | 26.9% |
| EPS (diluted) | $3.19 | $6.84 |
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 | $4.6B | ||
| Q4 25 | $3.1B | $4.5B | ||
| Q3 25 | $3.2B | $4.3B | ||
| Q2 25 | $3.0B | $4.3B | ||
| Q1 25 | $2.9B | $3.9B | ||
| Q4 24 | $2.9B | $3.8B | ||
| Q3 24 | $3.2B | $3.7B | ||
| Q2 24 | $3.0B | $3.7B |
| Q1 26 | $724.8M | $305.5M | ||
| Q4 25 | $678.2M | $434.6M | ||
| Q3 25 | $4.9M | $295.4M | ||
| Q2 25 | $713.8M | $302.2M | ||
| Q1 25 | $-1.7B | $240.7M | ||
| Q4 24 | $617.4M | $292.2M | ||
| Q3 24 | $1.9B | $270.3M | ||
| Q2 24 | $696.6M | $247.6M |
| Q1 26 | 31.1% | 18.7% | ||
| Q4 25 | 32.1% | 19.7% | ||
| Q3 25 | 32.3% | 19.4% | ||
| Q2 25 | 32.5% | 19.4% | ||
| Q1 25 | 29.6% | 18.7% | ||
| Q4 24 | 31.2% | 20.1% | ||
| Q3 24 | 34.0% | 19.9% | ||
| Q2 24 | 32.8% | 18.7% |
| Q1 26 | — | 8.7% | ||
| Q4 25 | 23.7% | 12.7% | ||
| Q3 25 | 0.5% | 9.4% | ||
| Q2 25 | 26.2% | 9.6% | ||
| Q1 25 | -79.8% | 8.2% | ||
| Q4 24 | 22.0% | 10.3% | ||
| Q3 24 | 76.1% | 9.8% | ||
| Q2 24 | 24.7% | 9.1% |
| Q1 26 | 22.9% | 6.6% | ||
| Q4 25 | 21.9% | 9.6% | ||
| Q3 25 | 0.2% | 6.9% | ||
| Q2 25 | 23.6% | 7.0% | ||
| Q1 25 | -59.3% | 6.2% | ||
| Q4 24 | 21.1% | 7.7% | ||
| Q3 24 | 61.2% | 7.3% | ||
| Q2 24 | 23.3% | 6.8% |
| Q1 26 | $3.19 | $6.84 | ||
| Q4 25 | $3.04 | $9.64 | ||
| Q3 25 | $0.03 | $6.57 | ||
| Q2 25 | $3.20 | $6.72 | ||
| Q1 25 | $-7.77 | $5.26 | ||
| Q4 24 | $2.77 | $6.30 | ||
| Q3 24 | $8.75 | $5.80 | ||
| Q2 24 | $3.13 | $5.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $916.4M |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | $3.9B |
| Total Assets | $41.6M | $9.5B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $916.4M | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.9B | $655.1M | ||
| Q2 25 | $2.3B | $486.0M | ||
| Q1 25 | $1.6B | $576.7M | ||
| Q4 24 | $2.0B | $1.3B | ||
| Q3 24 | $3.0B | $1.0B | ||
| Q2 24 | $2.4B | $807.3M |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $18.1M | $3.9B | ||
| Q4 25 | $15.4B | $3.7B | ||
| Q3 25 | $15.0B | $3.3B | ||
| Q2 25 | $15.5B | $3.1B | ||
| Q1 25 | $14.7B | $2.9B | ||
| Q4 24 | $16.7B | $2.9B | ||
| Q3 24 | $17.0B | $2.8B | ||
| Q2 24 | $15.1B | $2.7B |
| Q1 26 | $41.6M | $9.5B | ||
| Q4 25 | $41.2B | $9.3B | ||
| Q3 25 | $41.1B | $8.6B | ||
| Q2 25 | $41.7B | $8.4B | ||
| Q1 25 | $38.9B | $8.1B | ||
| Q4 24 | $40.0B | $7.7B | ||
| Q3 24 | $39.6B | $7.3B | ||
| Q2 24 | $37.0B | $7.1B |
| 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 | — | $558.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 56.4% | — |
| Cash ConversionOCF / Net Profit | — | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $558.0K | ||
| Q4 25 | $900.7M | $524.4M | ||
| Q3 25 | — | $475.5M | ||
| Q2 25 | $855.8M | $193.7M | ||
| Q1 25 | $328.1M | $108.5M | ||
| Q4 24 | $811.7M | $469.5M | ||
| Q3 24 | — | $526.4M | ||
| Q2 24 | $1.3B | $279.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $492.5M | ||
| Q3 25 | — | $448.8M | ||
| Q2 25 | $-640.0M | $165.6M | ||
| Q1 25 | $-1.6B | $82.3M | ||
| Q4 24 | $-1.3B | $451.8M | ||
| Q3 24 | — | $508.7M | ||
| Q2 24 | $-345.2M | $260.4M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 10.9% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | -21.2% | 3.8% | ||
| Q1 25 | -53.6% | 2.1% | ||
| Q4 24 | -44.5% | 12.0% | ||
| Q3 24 | — | 13.8% | ||
| Q2 24 | -11.6% | 7.1% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 0.7% | ||
| Q3 25 | 47.9% | 0.6% | ||
| Q2 25 | 49.5% | 0.7% | ||
| Q1 25 | 64.9% | 0.7% | ||
| Q4 24 | 72.2% | 0.5% | ||
| Q3 24 | 65.1% | 0.5% | ||
| Q2 24 | 53.8% | 0.5% |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.33× | 1.21× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | 1.20× | 0.64× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | 1.31× | 1.61× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 1.81× | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
