vs
Side-by-side financial comparison of Air Products (APD) and ENTEGRIS INC (ENTG). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.1B vs $823.9M, roughly 3.8× ENTEGRIS INC). Air Products runs the higher net margin — 21.9% vs 6.0%, a 15.9% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (5.8% vs -3.1%). ENTEGRIS INC produced more free cash flow last quarter ($134.0M vs $-350.5M). Over the past eight quarters, ENTEGRIS INC's revenue compounded faster (3.4% 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...
Entegris, Inc. is a supplier of materials for the semiconductor and other high-tech industries. Entegris has approximately 8,000 employees throughout its global operations. It has manufacturing, customer service and/or research facilities in the United States, Canada, China, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan. The company’s corporate headquarters are in Billerica, Massachusetts.
APD vs ENTG — Head-to-Head
Income Statement — Q1 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $823.9M |
| Net Profit | $678.2M | $49.4M |
| Gross Margin | 32.1% | 43.8% |
| Operating Margin | 23.7% | 12.7% |
| Net Margin | 21.9% | 6.0% |
| Revenue YoY | 5.8% | -3.1% |
| Net Profit YoY | 9.8% | -51.7% |
| EPS (diluted) | $3.04 | $0.33 |
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 | $823.9M | ||
| Q3 25 | $3.2B | $807.1M | ||
| Q2 25 | $3.0B | $792.4M | ||
| Q1 25 | $2.9B | $773.2M | ||
| Q4 24 | $2.9B | $849.8M | ||
| Q3 24 | $3.2B | $807.7M | ||
| Q2 24 | $3.0B | $812.7M | ||
| Q1 24 | $2.9B | $771.0M |
| Q4 25 | $678.2M | $49.4M | ||
| Q3 25 | $4.9M | $70.5M | ||
| Q2 25 | $713.8M | $52.8M | ||
| Q1 25 | $-1.7B | $62.9M | ||
| Q4 24 | $617.4M | $102.2M | ||
| Q3 24 | $1.9B | $77.6M | ||
| Q2 24 | $696.6M | $67.7M | ||
| Q1 24 | $572.4M | $45.3M |
| Q4 25 | 32.1% | 43.8% | ||
| Q3 25 | 32.3% | 43.5% | ||
| Q2 25 | 32.5% | 44.4% | ||
| Q1 25 | 29.6% | 46.1% | ||
| Q4 24 | 31.2% | 45.6% | ||
| Q3 24 | 34.0% | 46.0% | ||
| Q2 24 | 32.8% | 46.2% | ||
| Q1 24 | 32.0% | 45.6% |
| Q4 25 | 23.7% | 12.7% | ||
| Q3 25 | 0.5% | 15.2% | ||
| Q2 25 | 26.2% | 13.4% | ||
| Q1 25 | -79.8% | 15.8% | ||
| Q4 24 | 22.0% | 17.6% | ||
| Q3 24 | 76.1% | 16.9% | ||
| Q2 24 | 24.7% | 16.0% | ||
| Q1 24 | 21.7% | 15.3% |
| Q4 25 | 21.9% | 6.0% | ||
| Q3 25 | 0.2% | 8.7% | ||
| Q2 25 | 23.6% | 6.7% | ||
| Q1 25 | -59.3% | 8.1% | ||
| Q4 24 | 21.1% | 12.0% | ||
| Q3 24 | 61.2% | 9.6% | ||
| Q2 24 | 23.3% | 8.3% | ||
| Q1 24 | 19.5% | 5.9% |
| Q4 25 | $3.04 | $0.33 | ||
| Q3 25 | $0.03 | $0.46 | ||
| Q2 25 | $3.20 | $0.35 | ||
| Q1 25 | $-7.77 | $0.41 | ||
| Q4 24 | $2.77 | $0.67 | ||
| Q3 24 | $8.75 | $0.51 | ||
| Q2 24 | $3.13 | $0.45 | ||
| Q1 24 | $2.57 | $0.30 |
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 | $360.4M |
| Total DebtLower is stronger | — | $3.7B |
| Stockholders' EquityBook value | $15.4B | $4.0B |
| Total Assets | $41.2B | $8.4B |
| Debt / EquityLower = less leverage | — | 0.94× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $360.4M | ||
| Q3 25 | $1.9B | $399.8M | ||
| Q2 25 | $2.3B | $376.8M | ||
| Q1 25 | $1.6B | $340.9M | ||
| Q4 24 | $2.0B | $329.2M | ||
| Q3 24 | $3.0B | $432.1M | ||
| Q2 24 | $2.4B | $320.0M | ||
| Q1 24 | $2.6B | $340.7M |
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $4.0B | ||
| Q1 25 | — | $4.0B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | — | $4.1B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
| Q4 25 | $15.4B | $4.0B | ||
| Q3 25 | $15.0B | $3.9B | ||
| Q2 25 | $15.5B | $3.8B | ||
| Q1 25 | $14.7B | $3.7B | ||
| Q4 24 | $16.7B | $3.7B | ||
| Q3 24 | $17.0B | $3.6B | ||
| Q2 24 | $15.1B | $3.5B | ||
| Q1 24 | $14.9B | $3.4B |
| Q4 25 | $41.2B | $8.4B | ||
| Q3 25 | $41.1B | $8.4B | ||
| Q2 25 | $41.7B | $8.4B | ||
| Q1 25 | $38.9B | $8.4B | ||
| Q4 24 | $40.0B | $8.4B | ||
| Q3 24 | $39.6B | $8.5B | ||
| Q2 24 | $37.0B | $8.3B | ||
| Q1 24 | $35.9B | $8.4B |
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 1.06× | ||
| Q4 24 | — | 1.08× | ||
| Q3 24 | — | 1.15× | ||
| Q2 24 | — | 1.18× | ||
| Q1 24 | — | 1.22× |
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 | $192.0M |
| Free Cash FlowOCF − Capex | $-350.5M | $134.0M |
| FCF MarginFCF / Revenue | -11.3% | 16.3% |
| Capex IntensityCapex / Revenue | 40.3% | 7.0% |
| Cash ConversionOCF / Net Profit | 1.33× | 3.89× |
| TTM Free Cash FlowTrailing 4 quarters | — | $396.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $192.0M | ||
| Q3 25 | — | $249.5M | ||
| Q2 25 | $855.8M | $113.5M | ||
| Q1 25 | $328.1M | $140.4M | ||
| Q4 24 | $811.7M | $176.1M | ||
| Q3 24 | — | $197.2M | ||
| Q2 24 | $1.3B | $111.2M | ||
| Q1 24 | $801.7M | $147.2M |
| Q4 25 | $-350.5M | $134.0M | ||
| Q3 25 | — | $182.8M | ||
| Q2 25 | $-640.0M | $47.0M | ||
| Q1 25 | $-1.6B | $32.4M | ||
| Q4 24 | $-1.3B | $68.6M | ||
| Q3 24 | — | $115.0M | ||
| Q2 24 | $-345.2M | $51.9M | ||
| Q1 24 | $-867.7M | $80.6M |
| Q4 25 | -11.3% | 16.3% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | -21.2% | 5.9% | ||
| Q1 25 | -53.6% | 4.2% | ||
| Q4 24 | -44.5% | 8.1% | ||
| Q3 24 | — | 14.2% | ||
| Q2 24 | -11.6% | 6.4% | ||
| Q1 24 | -29.6% | 10.4% |
| Q4 25 | 40.3% | 7.0% | ||
| Q3 25 | 47.9% | 8.3% | ||
| Q2 25 | 49.5% | 8.4% | ||
| Q1 25 | 64.9% | 14.0% | ||
| Q4 24 | 72.2% | 12.7% | ||
| Q3 24 | 65.1% | 10.2% | ||
| Q2 24 | 53.8% | 7.3% | ||
| Q1 24 | 57.0% | 8.6% |
| Q4 25 | 1.33× | 3.89× | ||
| Q3 25 | — | 3.54× | ||
| Q2 25 | 1.20× | 2.15× | ||
| Q1 25 | — | 2.23× | ||
| Q4 24 | 1.31× | 1.72× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | 1.81× | 1.64× | ||
| Q1 24 | 1.40× | 3.25× |
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% |
ENTG
| Fabs | $516.3M | 63% |
| Equipment And Engineering | $121.8M | 15% |
| Chemical And Materials | $83.8M | 10% |
| Other | $61.7M | 7% |
| Non Semi | $40.3M | 5% |
