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Side-by-side financial comparison of Air Products (APD) and Tapestry, Inc. (TPR). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.1B vs $2.5B, roughly 1.2× Tapestry, Inc.). Tapestry, Inc. runs the higher net margin — 22.4% vs 21.9%, a 0.6% gap on every dollar of revenue. On growth, Tapestry, Inc. posted the faster year-over-year revenue change (14.0% vs 5.8%). Tapestry, Inc. produced more free cash flow last quarter ($1.0B vs $-350.5M). Over the past eight quarters, Tapestry, Inc.'s revenue compounded faster (29.9% 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...
Tapestry, Inc. is a leading American multinational luxury fashion holding company. It owns three iconic lifestyle brands: Coach, Kate Spade New York, and Stuart Weitzman, offering premium handbags, apparel, footwear, accessories, and fragrances to global consumers via physical retail stores and e-commerce platforms.
APD vs TPR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $2.5B |
| Net Profit | $678.2M | $561.3M |
| Gross Margin | 32.1% | 75.5% |
| Operating Margin | 23.7% | 28.6% |
| Net Margin | 21.9% | 22.4% |
| Revenue YoY | 5.8% | 14.0% |
| Net Profit YoY | 9.8% | 80.8% |
| EPS (diluted) | $3.04 | $2.68 |
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 | $2.5B | ||
| Q3 25 | $3.2B | $1.7B | ||
| Q2 25 | $3.0B | $1.7B | ||
| Q1 25 | $2.9B | $1.6B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $3.2B | $1.5B | ||
| Q2 24 | $3.0B | $1.6B | ||
| Q1 24 | $2.9B | $1.5B |
| Q4 25 | $678.2M | $561.3M | ||
| Q3 25 | $4.9M | $274.8M | ||
| Q2 25 | $713.8M | $-517.1M | ||
| Q1 25 | $-1.7B | $203.3M | ||
| Q4 24 | $617.4M | $310.4M | ||
| Q3 24 | $1.9B | $186.6M | ||
| Q2 24 | $696.6M | $159.3M | ||
| Q1 24 | $572.4M | $139.4M |
| Q4 25 | 32.1% | 75.5% | ||
| Q3 25 | 32.3% | 76.3% | ||
| Q2 25 | 32.5% | 76.3% | ||
| Q1 25 | 29.6% | 76.1% | ||
| Q4 24 | 31.2% | 74.4% | ||
| Q3 24 | 34.0% | 75.3% | ||
| Q2 24 | 32.8% | 74.9% | ||
| Q1 24 | 32.0% | 74.7% |
| Q4 25 | 23.7% | 28.6% | ||
| Q3 25 | 0.5% | 19.3% | ||
| Q2 25 | 26.2% | -33.9% | ||
| Q1 25 | -79.8% | 16.0% | ||
| Q4 24 | 22.0% | 22.4% | ||
| Q3 24 | 76.1% | 16.7% | ||
| Q2 24 | 24.7% | 14.8% | ||
| Q1 24 | 21.7% | 13.8% |
| Q4 25 | 21.9% | 22.4% | ||
| Q3 25 | 0.2% | 16.1% | ||
| Q2 25 | 23.6% | -30.0% | ||
| Q1 25 | -59.3% | 12.8% | ||
| Q4 24 | 21.1% | 14.1% | ||
| Q3 24 | 61.2% | 12.4% | ||
| Q2 24 | 23.3% | 10.0% | ||
| Q1 24 | 19.5% | 9.4% |
| Q4 25 | $3.04 | $2.68 | ||
| Q3 25 | $0.03 | $1.28 | ||
| Q2 25 | $3.20 | $-2.30 | ||
| Q1 25 | $-7.77 | $0.95 | ||
| Q4 24 | $2.77 | $1.38 | ||
| Q3 24 | $8.75 | $0.79 | ||
| Q2 24 | $3.13 | $0.67 | ||
| Q1 24 | $2.57 | $0.60 |
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 | $1.1B |
| Total DebtLower is stronger | — | $2.4B |
| Stockholders' EquityBook value | $15.4B | $551.2M |
| Total Assets | $41.2B | $6.5B |
| Debt / EquityLower = less leverage | — | 4.32× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.9B | $743.2M | ||
| Q2 25 | $2.3B | $1.1B | ||
| Q1 25 | $1.6B | $1.1B | ||
| Q4 24 | $2.0B | $1.0B | ||
| Q3 24 | $3.0B | $7.3B | ||
| Q2 24 | $2.4B | $7.2B | ||
| Q1 24 | $2.6B | $7.4B |
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.4B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $7.0B | ||
| Q2 24 | — | $6.9B | ||
| Q1 24 | — | $7.7B |
| Q4 25 | $15.4B | $551.2M | ||
| Q3 25 | $15.0B | $399.5M | ||
| Q2 25 | $15.5B | $857.8M | ||
| Q1 25 | $14.7B | $1.5B | ||
| Q4 24 | $16.7B | $1.3B | ||
| Q3 24 | $17.0B | $3.0B | ||
| Q2 24 | $15.1B | $2.9B | ||
| Q1 24 | $14.9B | $2.8B |
| Q4 25 | $41.2B | $6.5B | ||
| Q3 25 | $41.1B | $6.4B | ||
| Q2 25 | $41.7B | $6.6B | ||
| Q1 25 | $38.9B | $7.3B | ||
| Q4 24 | $40.0B | $7.3B | ||
| Q3 24 | $39.6B | $13.7B | ||
| Q2 24 | $37.0B | $13.4B | ||
| Q1 24 | $35.9B | $13.7B |
| Q4 25 | — | 4.32× | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | — | 2.77× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 1.78× | ||
| Q3 24 | — | 2.35× | ||
| Q2 24 | — | 2.39× | ||
| Q1 24 | — | 2.77× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $-350.5M | $1.0B |
| FCF MarginFCF / Revenue | -11.3% | 41.5% |
| Capex IntensityCapex / Revenue | 40.3% | 1.7% |
| Cash ConversionOCF / Net Profit | 1.33× | 1.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $1.1B | ||
| Q3 25 | — | $112.6M | ||
| Q2 25 | $855.8M | $446.8M | ||
| Q1 25 | $328.1M | $144.3M | ||
| Q4 24 | $811.7M | $506.0M | ||
| Q3 24 | — | $119.5M | ||
| Q2 24 | $1.3B | $256.0M | ||
| Q1 24 | $801.7M | $97.8M |
| Q4 25 | $-350.5M | $1.0B | ||
| Q3 25 | — | $80.2M | ||
| Q2 25 | $-640.0M | $411.5M | ||
| Q1 25 | $-1.6B | $113.4M | ||
| Q4 24 | $-1.3B | $475.1M | ||
| Q3 24 | — | $93.9M | ||
| Q2 24 | $-345.2M | $209.8M | ||
| Q1 24 | $-867.7M | $78.8M |
| Q4 25 | -11.3% | 41.5% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | -21.2% | 23.9% | ||
| Q1 25 | -53.6% | 7.2% | ||
| Q4 24 | -44.5% | 21.6% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | -11.6% | 13.2% | ||
| Q1 24 | -29.6% | 5.3% |
| Q4 25 | 40.3% | 1.7% | ||
| Q3 25 | 47.9% | 1.9% | ||
| Q2 25 | 49.5% | 2.0% | ||
| Q1 25 | 64.9% | 2.0% | ||
| Q4 24 | 72.2% | 1.4% | ||
| Q3 24 | 65.1% | 1.7% | ||
| Q2 24 | 53.8% | 2.9% | ||
| Q1 24 | 57.0% | 1.3% |
| Q4 25 | 1.33× | 1.93× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | 1.20× | — | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 1.31× | 1.63× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | 1.81× | 1.61× | ||
| Q1 24 | 1.40× | 0.70× |
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% |
TPR
| Coach | $1.4B | 57% |
| Other | $787.0M | 31% |
| Kate Spade Company | $290.0M | 12% |
