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Side-by-side financial comparison of Air Products (APD) and Champion Homes, Inc. (SKY). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.1B vs $656.6M, roughly 4.7× Champion Homes, Inc.). Air Products runs the higher net margin — 21.9% vs 8.3%, a 13.6% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (5.8% vs 1.8%). Champion Homes, Inc. produced more free cash flow last quarter ($92.9M vs $-350.5M). Over the past eight quarters, Champion Homes, Inc.'s revenue compounded faster (10.6% 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...
Champion Homes, Inc., is a mobile and modular home manufacturing company. It is one of the largest modular homebuilders in North America. The company also provides factory-built housing to the United States and western Canada.
APD vs SKY — Head-to-Head
Income Statement — Q1 2026 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $656.6M |
| Net Profit | $678.2M | $54.3M |
| Gross Margin | 32.1% | 26.2% |
| Operating Margin | 23.7% | 9.5% |
| Net Margin | 21.9% | 8.3% |
| Revenue YoY | 5.8% | 1.8% |
| Net Profit YoY | 9.8% | -11.7% |
| EPS (diluted) | $3.04 | $0.97 |
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 | $656.6M | ||
| Q3 25 | $3.2B | $684.4M | ||
| Q2 25 | $3.0B | $701.3M | ||
| Q1 25 | $2.9B | $593.9M | ||
| Q4 24 | $2.9B | $644.9M | ||
| Q3 24 | $3.2B | $616.9M | ||
| Q2 24 | $3.0B | $627.8M | ||
| Q1 24 | $2.9B | $536.4M |
| Q4 25 | $678.2M | $54.3M | ||
| Q3 25 | $4.9M | $58.2M | ||
| Q2 25 | $713.8M | $64.7M | ||
| Q1 25 | $-1.7B | $36.3M | ||
| Q4 24 | $617.4M | $61.5M | ||
| Q3 24 | $1.9B | $54.7M | ||
| Q2 24 | $696.6M | $45.8M | ||
| Q1 24 | $572.4M | $2.8M |
| Q4 25 | 32.1% | 26.2% | ||
| Q3 25 | 32.3% | 27.5% | ||
| Q2 25 | 32.5% | 27.1% | ||
| Q1 25 | 29.6% | 25.7% | ||
| Q4 24 | 31.2% | 28.1% | ||
| Q3 24 | 34.0% | 27.0% | ||
| Q2 24 | 32.8% | 26.2% | ||
| Q1 24 | 32.0% | 18.3% |
| Q4 25 | 23.7% | 9.5% | ||
| Q3 25 | 0.5% | 10.9% | ||
| Q2 25 | 26.2% | 11.2% | ||
| Q1 25 | -79.8% | 7.1% | ||
| Q4 24 | 22.0% | 11.3% | ||
| Q3 24 | 76.1% | 10.8% | ||
| Q2 24 | 24.7% | 8.8% | ||
| Q1 24 | 21.7% | 1.4% |
| Q4 25 | 21.9% | 8.3% | ||
| Q3 25 | 0.2% | 8.5% | ||
| Q2 25 | 23.6% | 9.2% | ||
| Q1 25 | -59.3% | 6.1% | ||
| Q4 24 | 21.1% | 9.5% | ||
| Q3 24 | 61.2% | 8.9% | ||
| Q2 24 | 23.3% | 7.3% | ||
| Q1 24 | 19.5% | 0.5% |
| Q4 25 | $3.04 | $0.97 | ||
| Q3 25 | $0.03 | $1.03 | ||
| Q2 25 | $3.20 | $1.13 | ||
| Q1 25 | $-7.77 | $0.63 | ||
| Q4 24 | $2.77 | $1.06 | ||
| Q3 24 | $8.75 | $0.94 | ||
| Q2 24 | $3.13 | $0.79 | ||
| Q1 24 | $2.57 | $0.04 |
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 | $659.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.4B | $1.6B |
| Total Assets | $41.2B | $2.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $659.8M | ||
| Q3 25 | $1.9B | $618.7M | ||
| Q2 25 | $2.3B | $605.3M | ||
| Q1 25 | $1.6B | $610.3M | ||
| Q4 24 | $2.0B | $581.8M | ||
| Q3 24 | $3.0B | $570.2M | ||
| Q2 24 | $2.4B | $548.9M | ||
| Q1 24 | $2.6B | $495.1M |
| Q4 25 | $15.4B | $1.6B | ||
| Q3 25 | $15.0B | $1.6B | ||
| Q2 25 | $15.5B | $1.6B | ||
| Q1 25 | $14.7B | $1.5B | ||
| Q4 24 | $16.7B | $1.5B | ||
| Q3 24 | $17.0B | $1.5B | ||
| Q2 24 | $15.1B | $1.5B | ||
| Q1 24 | $14.9B | $1.4B |
| Q4 25 | $41.2B | $2.1B | ||
| Q3 25 | $41.1B | $2.1B | ||
| Q2 25 | $41.7B | $2.1B | ||
| Q1 25 | $38.9B | $2.1B | ||
| Q4 24 | $40.0B | $2.0B | ||
| Q3 24 | $39.6B | $2.0B | ||
| Q2 24 | $37.0B | $2.0B | ||
| Q1 24 | $35.9B | $1.9B |
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 | $100.0M |
| Free Cash FlowOCF − Capex | $-350.5M | $92.9M |
| FCF MarginFCF / Revenue | -11.3% | 14.1% |
| Capex IntensityCapex / Revenue | 40.3% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.33× | 1.84× |
| TTM Free Cash FlowTrailing 4 quarters | — | $259.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $100.0M | ||
| Q3 25 | — | $75.9M | ||
| Q2 25 | $855.8M | $75.3M | ||
| Q1 25 | $328.1M | $46.0M | ||
| Q4 24 | $811.7M | $50.4M | ||
| Q3 24 | — | $59.8M | ||
| Q2 24 | $1.3B | $84.6M | ||
| Q1 24 | $801.7M | — |
| Q4 25 | $-350.5M | $92.9M | ||
| Q3 25 | — | $67.0M | ||
| Q2 25 | $-640.0M | $66.4M | ||
| Q1 25 | $-1.6B | $33.4M | ||
| Q4 24 | $-1.3B | $37.3M | ||
| Q3 24 | — | $45.7M | ||
| Q2 24 | $-345.2M | $73.9M | ||
| Q1 24 | $-867.7M | — |
| Q4 25 | -11.3% | 14.1% | ||
| Q3 25 | — | 9.8% | ||
| Q2 25 | -21.2% | 9.5% | ||
| Q1 25 | -53.6% | 5.6% | ||
| Q4 24 | -44.5% | 5.8% | ||
| Q3 24 | — | 7.4% | ||
| Q2 24 | -11.6% | 11.8% | ||
| Q1 24 | -29.6% | — |
| Q4 25 | 40.3% | 1.1% | ||
| Q3 25 | 47.9% | 1.3% | ||
| Q2 25 | 49.5% | 1.3% | ||
| Q1 25 | 64.9% | 2.1% | ||
| Q4 24 | 72.2% | 2.0% | ||
| Q3 24 | 65.1% | 2.3% | ||
| Q2 24 | 53.8% | 1.7% | ||
| Q1 24 | 57.0% | — |
| Q4 25 | 1.33× | 1.84× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | 1.20× | 1.16× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | 1.31× | 0.82× | ||
| Q3 24 | — | 1.09× | ||
| Q2 24 | 1.81× | 1.85× | ||
| Q1 24 | 1.40× | — |
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% |
SKY
| Manufacturing | $369.7M | 56% |
| Retail | $252.7M | 38% |
| Canadian Factory Built Housing | $25.8M | 4% |
| Transportation And Other | $8.5M | 1% |
