vs
Side-by-side financial comparison of Air Products (APD) and KeyCorp (KEY). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $2.0B, roughly 1.6× KeyCorp). KeyCorp runs the higher net margin — 25.4% vs 22.9%, a 2.6% gap on every dollar of revenue. On growth, KeyCorp posted the faster year-over-year revenue change (131.8% vs 8.8%). Over the past eight quarters, KeyCorp's revenue compounded faster (14.4% 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...
Key is a Japanese visual novel studio known for making dramatic and plot-oriented titles. It was formed on July 21, 1998, as a brand under the publisher Visual Arts, and is located in Kita, Osaka.
APD vs KEY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.0B |
| Net Profit | $724.8M | $510.0M |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 32.3% |
| Net Margin | 22.9% | 25.4% |
| Revenue YoY | 8.8% | 131.8% |
| Net Profit YoY | 166.6% | 309.0% |
| EPS (diluted) | $3.19 | $0.43 |
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 | — | ||
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $3.2B | $1.9B | ||
| Q2 25 | $3.0B | $1.8B | ||
| Q1 25 | $2.9B | $1.8B | ||
| Q4 24 | $2.9B | $865.0M | ||
| Q3 24 | $3.2B | $695.0M | ||
| Q2 24 | $3.0B | $1.5B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $510.0M | ||
| Q3 25 | $4.9M | $489.0M | ||
| Q2 25 | $713.8M | $425.0M | ||
| Q1 25 | $-1.7B | $405.0M | ||
| Q4 24 | $617.4M | $-244.0M | ||
| Q3 24 | $1.9B | $-410.0M | ||
| Q2 24 | $696.6M | $274.0M |
| 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 | — | — | ||
| Q4 25 | 23.7% | 32.3% | ||
| Q3 25 | 0.5% | 31.8% | ||
| Q2 25 | 26.2% | 29.3% | ||
| Q1 25 | -79.8% | 29.0% | ||
| Q4 24 | 22.0% | -92.6% | ||
| Q3 24 | 76.1% | -72.8% | ||
| Q2 24 | 24.7% | 22.0% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 25.4% | ||
| Q3 25 | 0.2% | 25.8% | ||
| Q2 25 | 23.6% | 23.1% | ||
| Q1 25 | -59.3% | 22.8% | ||
| Q4 24 | 21.1% | -54.7% | ||
| Q3 24 | 61.2% | -59.0% | ||
| Q2 24 | 23.3% | 18.0% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | $0.43 | ||
| Q3 25 | $0.03 | $0.41 | ||
| Q2 25 | $3.20 | $0.35 | ||
| Q1 25 | $-7.77 | $0.33 | ||
| Q4 24 | $2.77 | $-0.30 | ||
| Q3 24 | $8.75 | $-0.47 | ||
| Q2 24 | $3.13 | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $10.2B |
| Total DebtLower is stronger | $17.4M | $9.9B |
| Stockholders' EquityBook value | $18.1M | $20.4B |
| Total Assets | $41.6M | $184.4B |
| Debt / EquityLower = less leverage | 0.96× | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $10.2B | ||
| Q3 25 | $1.9B | $13.3B | ||
| Q2 25 | $2.3B | $11.6B | ||
| Q1 25 | $1.6B | $15.3B | ||
| Q4 24 | $2.0B | $17.5B | ||
| Q3 24 | $3.0B | $22.8B | ||
| Q2 24 | $2.4B | $15.5B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $9.9B | ||
| Q3 25 | — | $10.9B | ||
| Q2 25 | — | $12.1B | ||
| Q1 25 | — | $12.4B | ||
| Q4 24 | — | $12.1B | ||
| Q3 24 | — | $15.7B | ||
| Q2 24 | — | $16.9B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $20.4B | ||
| Q3 25 | $15.0B | $20.1B | ||
| Q2 25 | $15.5B | $19.5B | ||
| Q1 25 | $14.7B | $19.0B | ||
| Q4 24 | $16.7B | $18.2B | ||
| Q3 24 | $17.0B | $16.9B | ||
| Q2 24 | $15.1B | $14.8B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $184.4B | ||
| Q3 25 | $41.1B | $187.4B | ||
| Q2 25 | $41.7B | $185.5B | ||
| Q1 25 | $38.9B | $188.7B | ||
| Q4 24 | $40.0B | $187.2B | ||
| Q3 24 | $39.6B | $189.8B | ||
| Q2 24 | $37.0B | $187.4B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.93× | ||
| Q2 24 | — | 1.14× |
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 | — | $2.2B |
| Free Cash FlowOCF − Capex | — | $2.1B |
| FCF MarginFCF / Revenue | — | 104.8% |
| Capex IntensityCapex / Revenue | 56.4% | 5.3% |
| Cash ConversionOCF / Net Profit | — | 4.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $3.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $2.2B | ||
| Q3 25 | — | $396.0M | ||
| Q2 25 | $855.8M | $1.2B | ||
| Q1 25 | $328.1M | $-140.0M | ||
| Q4 24 | $811.7M | $664.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | $1.3B | $-217.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $2.1B | ||
| Q3 25 | — | $367.0M | ||
| Q2 25 | $-640.0M | $1.2B | ||
| Q1 25 | $-1.6B | $-150.0M | ||
| Q4 24 | $-1.3B | $599.0M | ||
| Q3 24 | — | $-1.2B | ||
| Q2 24 | $-345.2M | $-230.0M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 104.8% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | -21.2% | 65.8% | ||
| Q1 25 | -53.6% | -8.5% | ||
| Q4 24 | -44.5% | 69.2% | ||
| Q3 24 | — | -175.8% | ||
| Q2 24 | -11.6% | -15.1% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 5.3% | ||
| Q3 25 | 47.9% | 1.5% | ||
| Q2 25 | 49.5% | 1.3% | ||
| Q1 25 | 64.9% | 0.6% | ||
| Q4 24 | 72.2% | 7.5% | ||
| Q3 24 | 65.1% | 2.4% | ||
| Q2 24 | 53.8% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 4.33× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | 1.20× | 2.90× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | 1.31× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.81× | -0.79× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
