vs
Side-by-side financial comparison of Air Products (APD) and Cheniere Energy, Inc. (LNG). Click either name above to swap in a different company.
Cheniere Energy, Inc. is the larger business by last-quarter revenue ($5.4B vs $3.2B, roughly 1.7× Air Products). Cheniere Energy, Inc. runs the higher net margin — 42.8% vs 22.9%, a 20.0% gap on every dollar of revenue. On growth, Cheniere Energy, Inc. posted the faster year-over-year revenue change (20.3% vs 8.8%). Over the past eight quarters, Cheniere Energy, Inc.'s revenue compounded faster (14.3% 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...
Cheniere Energy, Inc. is an American liquefied natural gas (LNG) company headquartered in Houston, Texas.
APD vs LNG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $5.4B |
| Net Profit | $724.8M | $2.3B |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 70.8% |
| Net Margin | 22.9% | 42.8% |
| Revenue YoY | 8.8% | 20.3% |
| Net Profit YoY | 166.6% | 135.6% |
| EPS (diluted) | $3.19 | $10.51 |
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 | $5.4B | ||
| Q3 25 | $3.2B | $4.3B | ||
| Q2 25 | $3.0B | $4.5B | ||
| Q1 25 | $2.9B | $5.3B | ||
| Q4 24 | $2.9B | $4.5B | ||
| Q3 24 | $3.2B | $3.7B | ||
| Q2 24 | $3.0B | $3.1B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $2.3B | ||
| Q3 25 | $4.9M | $1.0B | ||
| Q2 25 | $713.8M | $1.6B | ||
| Q1 25 | $-1.7B | $353.0M | ||
| Q4 24 | $617.4M | $977.0M | ||
| Q3 24 | $1.9B | $893.0M | ||
| Q2 24 | $696.6M | $880.0M |
| 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% | 70.8% | ||
| Q3 25 | 0.5% | 42.3% | ||
| Q2 25 | 26.2% | 56.1% | ||
| Q1 25 | -79.8% | 18.2% | ||
| Q4 24 | 22.0% | 38.9% | ||
| Q3 24 | 76.1% | 44.7% | ||
| Q2 24 | 24.7% | 50.5% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 42.8% | ||
| Q3 25 | 0.2% | 24.4% | ||
| Q2 25 | 23.6% | 36.1% | ||
| Q1 25 | -59.3% | 6.7% | ||
| Q4 24 | 21.1% | 21.9% | ||
| Q3 24 | 61.2% | 24.2% | ||
| Q2 24 | 23.3% | 28.0% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | $10.51 | ||
| Q3 25 | $0.03 | $4.75 | ||
| Q2 25 | $3.20 | $7.30 | ||
| Q1 25 | $-7.77 | $1.57 | ||
| Q4 24 | $2.77 | $4.30 | ||
| Q3 24 | $8.75 | $3.93 | ||
| Q2 24 | $3.13 | $3.84 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.1B |
| Total DebtLower is stronger | $17.4M | $22.5B |
| Stockholders' EquityBook value | $18.1M | $7.9B |
| Total Assets | $41.6M | $47.9B |
| Debt / EquityLower = less leverage | 0.96× | 2.84× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.9B | $1.1B | ||
| Q2 25 | $2.3B | $1.6B | ||
| Q1 25 | $1.6B | $2.5B | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $3.0B | $2.7B | ||
| Q2 24 | $2.4B | $2.4B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $22.5B | ||
| Q3 25 | — | $22.0B | ||
| Q2 25 | — | $22.0B | ||
| Q1 25 | — | $22.5B | ||
| Q4 24 | — | $22.6B | ||
| Q3 24 | — | $22.5B | ||
| Q2 24 | — | $22.6B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $7.9B | ||
| Q3 25 | $15.0B | $6.7B | ||
| Q2 25 | $15.5B | $6.7B | ||
| Q1 25 | $14.7B | $5.6B | ||
| Q4 24 | $16.7B | $5.7B | ||
| Q3 24 | $17.0B | $5.1B | ||
| Q2 24 | $15.1B | $4.5B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $47.9B | ||
| Q3 25 | $41.1B | $45.1B | ||
| Q2 25 | $41.7B | $44.6B | ||
| Q1 25 | $38.9B | $43.5B | ||
| Q4 24 | $40.0B | $43.9B | ||
| Q3 24 | $39.6B | $43.1B | ||
| Q2 24 | $37.0B | $42.3B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | 2.84× | ||
| Q3 25 | — | 3.25× | ||
| Q2 25 | — | 3.28× | ||
| Q1 25 | — | 4.03× | ||
| Q4 24 | — | 3.96× | ||
| Q3 24 | — | 4.42× | ||
| Q2 24 | — | 5.06× |
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 | — | $2.1B |
| Free Cash FlowOCF − Capex | — | $1.3B |
| FCF MarginFCF / Revenue | — | 24.4% |
| Capex IntensityCapex / Revenue | 56.4% | 13.8% |
| Cash ConversionOCF / Net Profit | — | 0.89× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $2.1B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $855.8M | $831.0M | ||
| Q1 25 | $328.1M | $1.2B | ||
| Q4 24 | $811.7M | $1.6B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | $1.3B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $1.3B | ||
| Q3 25 | — | $738.0M | ||
| Q2 25 | $-640.0M | $-193.0M | ||
| Q1 25 | $-1.6B | $605.0M | ||
| Q4 24 | $-1.3B | $1.1B | ||
| Q3 24 | — | $875.0M | ||
| Q2 24 | $-345.2M | $613.0M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 24.4% | ||
| Q3 25 | — | 17.2% | ||
| Q2 25 | -21.2% | -4.3% | ||
| Q1 25 | -53.6% | 11.4% | ||
| Q4 24 | -44.5% | 24.0% | ||
| Q3 24 | — | 23.8% | ||
| Q2 24 | -11.6% | 19.5% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 13.8% | ||
| Q3 25 | 47.9% | 16.0% | ||
| Q2 25 | 49.5% | 22.7% | ||
| Q1 25 | 64.9% | 11.8% | ||
| Q4 24 | 72.2% | 12.7% | ||
| Q3 24 | 65.1% | 14.0% | ||
| Q2 24 | 53.8% | 16.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 0.89× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | 1.20× | 0.51× | ||
| Q1 25 | — | 3.48× | ||
| Q4 24 | 1.31× | 1.68× | ||
| Q3 24 | — | 1.56× | ||
| Q2 24 | 1.81× | 1.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
LNG
| Liquefied Natural Gas | $5.3B | 99% |
| Other | $103.0M | 2% |
| Regasification Service | $34.0M | 1% |
