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Side-by-side financial comparison of Air Products (APD) and Huntington Ingalls Industries (HII). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $1.7B, roughly 1.9× Huntington Ingalls Industries). Air Products runs the higher net margin — 22.9% vs 8.9%, a 13.9% gap on every dollar of revenue. On growth, Huntington Ingalls Industries posted the faster year-over-year revenue change (13.8% vs 8.8%). Over the past eight quarters, Air Products's revenue compounded faster (3.1% CAGR vs -25.2%).
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...
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
APD vs HII — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $1.7B |
| Net Profit | $724.8M | $149.0M |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 9.3% |
| Net Margin | 22.9% | 8.9% |
| Revenue YoY | 8.8% | 13.8% |
| Net Profit YoY | 166.6% | — |
| EPS (diluted) | $3.19 | $3.79 |
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 | $1.7B | ||
| Q4 25 | $3.1B | $3.5B | ||
| Q3 25 | $3.2B | $3.2B | ||
| Q2 25 | $3.0B | $3.1B | ||
| Q1 25 | $2.9B | $2.7B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $3.2B | $2.7B | ||
| Q2 24 | $3.0B | $3.0B |
| Q1 26 | $724.8M | $149.0M | ||
| Q4 25 | $678.2M | $159.0M | ||
| Q3 25 | $4.9M | $145.0M | ||
| Q2 25 | $713.8M | $152.0M | ||
| Q1 25 | $-1.7B | $149.0M | ||
| Q4 24 | $617.4M | $123.0M | ||
| Q3 24 | $1.9B | $101.0M | ||
| Q2 24 | $696.6M | $173.0M |
| Q1 26 | 31.1% | — | ||
| 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 26 | — | 9.3% | ||
| Q4 25 | 23.7% | 4.9% | ||
| Q3 25 | 0.5% | 5.0% | ||
| Q2 25 | 26.2% | 5.3% | ||
| Q1 25 | -79.8% | 5.9% | ||
| Q4 24 | 22.0% | 3.7% | ||
| Q3 24 | 76.1% | 3.0% | ||
| Q2 24 | 24.7% | 6.3% |
| Q1 26 | 22.9% | 8.9% | ||
| Q4 25 | 21.9% | 4.6% | ||
| Q3 25 | 0.2% | 4.5% | ||
| Q2 25 | 23.6% | 4.9% | ||
| Q1 25 | -59.3% | 5.4% | ||
| Q4 24 | 21.1% | 4.1% | ||
| Q3 24 | 61.2% | 3.7% | ||
| Q2 24 | 23.3% | 5.8% |
| Q1 26 | $3.19 | $3.79 | ||
| Q4 25 | $3.04 | $4.06 | ||
| Q3 25 | $0.03 | $3.68 | ||
| Q2 25 | $3.20 | $3.86 | ||
| Q1 25 | $-7.77 | $3.79 | ||
| Q4 24 | $2.77 | $3.15 | ||
| Q3 24 | $8.75 | $2.56 | ||
| Q2 24 | $3.13 | $4.38 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $216.0M |
| Total DebtLower is stronger | $17.4M | $2.7B |
| Stockholders' EquityBook value | $18.1M | $5.1B |
| Total Assets | $41.6M | $12.5B |
| Debt / EquityLower = less leverage | 0.96× | 0.52× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $216.0M | ||
| 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 | $2.7B | ||
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $18.1M | $5.1B | ||
| Q4 25 | $15.4B | $5.1B | ||
| Q3 25 | $15.0B | $5.0B | ||
| Q2 25 | $15.5B | $4.9B | ||
| Q1 25 | $14.7B | $4.8B | ||
| Q4 24 | $16.7B | $4.7B | ||
| Q3 24 | $17.0B | $4.2B | ||
| Q2 24 | $15.1B | $4.2B |
| Q1 26 | $41.6M | $12.5B | ||
| Q4 25 | $41.2B | $12.7B | ||
| Q3 25 | $41.1B | $12.3B | ||
| Q2 25 | $41.7B | $12.1B | ||
| Q1 25 | $38.9B | $12.1B | ||
| Q4 24 | $40.0B | $12.1B | ||
| Q3 24 | $39.6B | $11.1B | ||
| Q2 24 | $37.0B | $11.3B |
| Q1 26 | 0.96× | 0.52× | ||
| Q4 25 | — | 0.53× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.58× | ||
| 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 | — | $-390.0M |
| Free Cash FlowOCF − Capex | — | $-461.0M |
| FCF MarginFCF / Revenue | — | -27.7% |
| Capex IntensityCapex / Revenue | 56.4% | 4.4% |
| Cash ConversionOCF / Net Profit | — | -2.62× |
| TTM Free Cash FlowTrailing 4 quarters | — | $795.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-390.0M | ||
| Q4 25 | $900.7M | $650.0M | ||
| Q3 25 | — | $118.0M | ||
| Q2 25 | $855.8M | $823.0M | ||
| Q1 25 | $328.1M | $-395.0M | ||
| Q4 24 | $811.7M | $391.0M | ||
| Q3 24 | — | $213.0M | ||
| Q2 24 | $1.3B | $-9.0M |
| Q1 26 | — | $-461.0M | ||
| Q4 25 | $-350.5M | $516.0M | ||
| Q3 25 | — | $13.0M | ||
| Q2 25 | $-640.0M | $727.0M | ||
| Q1 25 | $-1.6B | $-462.0M | ||
| Q4 24 | $-1.3B | $277.0M | ||
| Q3 24 | — | $125.0M | ||
| Q2 24 | $-345.2M | $-99.0M |
| Q1 26 | — | -27.7% | ||
| Q4 25 | -11.3% | 14.8% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | -21.2% | 23.6% | ||
| Q1 25 | -53.6% | -16.9% | ||
| Q4 24 | -44.5% | 9.2% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | -11.6% | -3.3% |
| Q1 26 | 56.4% | 4.4% | ||
| Q4 25 | 40.3% | 3.9% | ||
| Q3 25 | 47.9% | 3.3% | ||
| Q2 25 | 49.5% | 3.1% | ||
| Q1 25 | 64.9% | 2.5% | ||
| Q4 24 | 72.2% | 3.8% | ||
| Q3 24 | 65.1% | 3.2% | ||
| Q2 24 | 53.8% | 3.0% |
| Q1 26 | — | -2.62× | ||
| Q4 25 | 1.33× | 4.09× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | 1.20× | 5.41× | ||
| Q1 25 | — | -2.65× | ||
| Q4 24 | 1.31× | 3.18× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | 1.81× | -0.05× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
