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Side-by-side financial comparison of Air Products (APD) and Stanley Black & Decker (SWK). Click either name above to swap in a different company.
Stanley Black & Decker is the larger business by last-quarter revenue ($3.8B vs $3.2B, roughly 1.2× Air Products). Air Products runs the higher net margin — 22.9% vs 1.4%, a 21.5% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (8.8% vs 0.1%). Over the past eight quarters, Air Products's revenue compounded faster (3.1% CAGR vs 0.3%).
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...
Stanley Black & Decker, Inc., formerly known as The Stanley Works, is an American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the Greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.
APD vs SWK — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $3.8B |
| Net Profit | $724.8M | $51.4M |
| Gross Margin | 31.1% | 31.4% |
| Operating Margin | — | — |
| Net Margin | 22.9% | 1.4% |
| Revenue YoY | 8.8% | 0.1% |
| Net Profit YoY | 166.6% | -43.6% |
| EPS (diluted) | $3.19 | $0.34 |
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 | — | ||
| Q3 25 | $3.2B | $3.8B | ||
| Q2 25 | $3.0B | $3.9B | ||
| Q1 25 | $2.9B | $3.7B | ||
| Q4 24 | $2.9B | $3.7B | ||
| Q3 24 | $3.2B | $3.8B | ||
| Q2 24 | $3.0B | $4.0B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | — | ||
| Q3 25 | $4.9M | $51.4M | ||
| Q2 25 | $713.8M | $101.9M | ||
| Q1 25 | $-1.7B | $90.4M | ||
| Q4 24 | $617.4M | $194.9M | ||
| Q3 24 | $1.9B | $91.1M | ||
| Q2 24 | $696.6M | $-11.2M |
| Q1 26 | 31.1% | — | ||
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | 31.4% | ||
| Q2 25 | 32.5% | 27.0% | ||
| Q1 25 | 29.6% | 29.9% | ||
| Q4 24 | 31.2% | 30.8% | ||
| Q3 24 | 34.0% | 29.9% | ||
| Q2 24 | 32.8% | 28.4% |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 26.2% | — | ||
| Q1 25 | -79.8% | — | ||
| Q4 24 | 22.0% | 3.4% | ||
| Q3 24 | 76.1% | 10.6% | ||
| Q2 24 | 24.7% | 9.5% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | — | ||
| Q3 25 | 0.2% | 1.4% | ||
| Q2 25 | 23.6% | 2.6% | ||
| Q1 25 | -59.3% | 2.4% | ||
| Q4 24 | 21.1% | 5.2% | ||
| Q3 24 | 61.2% | 2.4% | ||
| Q2 24 | 23.3% | -0.3% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | — | ||
| Q3 25 | $0.03 | $0.34 | ||
| Q2 25 | $3.20 | $0.67 | ||
| Q1 25 | $-7.77 | $0.60 | ||
| Q4 24 | $2.77 | $1.29 | ||
| Q3 24 | $8.75 | $0.60 | ||
| Q2 24 | $3.13 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $268.3M |
| Total DebtLower is stronger | $17.4M | $5.3B |
| Stockholders' EquityBook value | $18.1M | $9.0B |
| Total Assets | $41.6M | $21.8B |
| Debt / EquityLower = less leverage | 0.96× | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.9B | $268.3M | ||
| Q2 25 | $2.3B | $311.8M | ||
| Q1 25 | $1.6B | $344.8M | ||
| Q4 24 | $2.0B | $290.5M | ||
| Q3 24 | $3.0B | $298.7M | ||
| Q2 24 | $2.4B | $318.5M |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | — | $5.6B | ||
| Q1 25 | — | $5.6B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | — | ||
| Q3 25 | $15.0B | $9.0B | ||
| Q2 25 | $15.5B | $9.1B | ||
| Q1 25 | $14.7B | $8.8B | ||
| Q4 24 | $16.7B | $8.7B | ||
| Q3 24 | $17.0B | $8.9B | ||
| Q2 24 | $15.1B | $8.7B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | — | ||
| Q3 25 | $41.1B | $21.8B | ||
| Q2 25 | $41.7B | $22.5B | ||
| Q1 25 | $38.9B | $22.5B | ||
| Q4 24 | $40.0B | $21.8B | ||
| Q3 24 | $39.6B | $22.5B | ||
| Q2 24 | $37.0B | $22.5B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.59× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.63× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.70× |
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 | — | $221.2M |
| Free Cash FlowOCF − Capex | — | $155.3M |
| FCF MarginFCF / Revenue | — | 4.1% |
| Capex IntensityCapex / Revenue | 56.4% | 1.8% |
| Cash ConversionOCF / Net Profit | — | 4.30× |
| TTM Free Cash FlowTrailing 4 quarters | — | $369.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | — | ||
| Q3 25 | — | $221.2M | ||
| Q2 25 | $855.8M | $214.3M | ||
| Q1 25 | $328.1M | $-420.0M | ||
| Q4 24 | $811.7M | $679.1M | ||
| Q3 24 | — | $285.8M | ||
| Q2 24 | $1.3B | $573.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | — | ||
| Q3 25 | — | $155.3M | ||
| Q2 25 | $-640.0M | $134.7M | ||
| Q1 25 | $-1.6B | $-485.0M | ||
| Q4 24 | $-1.3B | $564.6M | ||
| Q3 24 | — | $199.3M | ||
| Q2 24 | $-345.2M | $485.8M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | — | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | -21.2% | 3.4% | ||
| Q1 25 | -53.6% | -13.0% | ||
| Q4 24 | -44.5% | 15.2% | ||
| Q3 24 | — | 5.3% | ||
| Q2 24 | -11.6% | 12.1% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | — | ||
| Q3 25 | 47.9% | 1.8% | ||
| Q2 25 | 49.5% | 2.0% | ||
| Q1 25 | 64.9% | 1.7% | ||
| Q4 24 | 72.2% | 3.1% | ||
| Q3 24 | 65.1% | 2.3% | ||
| Q2 24 | 53.8% | 2.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | — | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | 1.20× | 2.10× | ||
| Q1 25 | — | -4.65× | ||
| Q4 24 | 1.31× | 3.48× | ||
| Q3 24 | — | 3.14× | ||
| Q2 24 | 1.81× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
