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Side-by-side financial comparison of Air Products (APD) and WESCO INTERNATIONAL INC (WCC). Click either name above to swap in a different company.
WESCO INTERNATIONAL INC is the larger business by last-quarter revenue ($6.1B vs $3.1B, roughly 2.0× Air Products). Air Products runs the higher net margin — 21.9% vs 2.6%, a 19.2% gap on every dollar of revenue. On growth, WESCO INTERNATIONAL INC posted the faster year-over-year revenue change (10.3% vs 5.8%). WESCO INTERNATIONAL INC produced more free cash flow last quarter ($27.5M vs $-350.5M). Over the past eight quarters, WESCO INTERNATIONAL INC's revenue compounded faster (6.5% 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...
Wesco International, Inc. is a publicly traded American holding company for Wesco Distribution, an electrical distribution and services company based in Pittsburgh, Pennsylvania.
APD vs WCC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.1B | $6.1B |
| Net Profit | $678.2M | $159.8M |
| Gross Margin | 32.1% | 21.2% |
| Operating Margin | 23.7% | 5.3% |
| Net Margin | 21.9% | 2.6% |
| Revenue YoY | 5.8% | 10.3% |
| Net Profit YoY | 9.8% | -3.4% |
| EPS (diluted) | $3.04 | $3.33 |
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 | $6.1B | ||
| Q3 25 | $3.2B | $6.2B | ||
| Q2 25 | $3.0B | $5.9B | ||
| Q1 25 | $2.9B | $5.3B | ||
| Q4 24 | $2.9B | $5.5B | ||
| Q3 24 | $3.2B | $5.5B | ||
| Q2 24 | $3.0B | $5.5B | ||
| Q1 24 | $2.9B | $5.3B |
| Q4 25 | $678.2M | $159.8M | ||
| Q3 25 | $4.9M | $187.5M | ||
| Q2 25 | $713.8M | $174.5M | ||
| Q1 25 | $-1.7B | $118.4M | ||
| Q4 24 | $617.4M | $165.4M | ||
| Q3 24 | $1.9B | $204.3M | ||
| Q2 24 | $696.6M | $232.1M | ||
| Q1 24 | $572.4M | $115.8M |
| Q4 25 | 32.1% | 21.2% | ||
| Q3 25 | 32.3% | 21.3% | ||
| Q2 25 | 32.5% | 21.1% | ||
| Q1 25 | 29.6% | 21.1% | ||
| Q4 24 | 31.2% | 21.2% | ||
| Q3 24 | 34.0% | 22.1% | ||
| Q2 24 | 32.8% | 21.9% | ||
| Q1 24 | 32.0% | 21.3% |
| Q4 25 | 23.7% | 5.3% | ||
| Q3 25 | 0.5% | 5.6% | ||
| Q2 25 | 26.2% | 5.5% | ||
| Q1 25 | -79.8% | 4.5% | ||
| Q4 24 | 22.0% | 5.5% | ||
| Q3 24 | 76.1% | 6.1% | ||
| Q2 24 | 24.7% | 5.9% | ||
| Q1 24 | 21.7% | 4.9% |
| Q4 25 | 21.9% | 2.6% | ||
| Q3 25 | 0.2% | 3.0% | ||
| Q2 25 | 23.6% | 3.0% | ||
| Q1 25 | -59.3% | 2.2% | ||
| Q4 24 | 21.1% | 3.0% | ||
| Q3 24 | 61.2% | 3.7% | ||
| Q2 24 | 23.3% | 4.2% | ||
| Q1 24 | 19.5% | 2.2% |
| Q4 25 | $3.04 | $3.33 | ||
| Q3 25 | $0.03 | $3.79 | ||
| Q2 25 | $3.20 | $3.83 | ||
| Q1 25 | $-7.77 | $2.10 | ||
| Q4 24 | $2.77 | $3.01 | ||
| Q3 24 | $8.75 | $3.81 | ||
| Q2 24 | $3.13 | $4.28 | ||
| Q1 24 | $2.57 | $1.95 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $15.4B | $5.0B |
| Total Assets | $41.2B | $16.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $3.0B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $15.4B | $5.0B | ||
| Q3 25 | $15.0B | $4.8B | ||
| Q2 25 | $15.5B | $4.8B | ||
| Q1 25 | $14.7B | $5.0B | ||
| Q4 24 | $16.7B | $5.0B | ||
| Q3 24 | $17.0B | $5.0B | ||
| Q2 24 | $15.1B | $4.9B | ||
| Q1 24 | $14.9B | $5.0B |
| Q4 25 | $41.2B | $16.5B | ||
| Q3 25 | $41.1B | $16.6B | ||
| Q2 25 | $41.7B | $16.2B | ||
| Q1 25 | $38.9B | $15.5B | ||
| Q4 24 | $40.0B | $15.1B | ||
| Q3 24 | $39.6B | $15.3B | ||
| Q2 24 | $37.0B | $15.1B | ||
| Q1 24 | $35.9B | $15.5B |
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 | $71.9M |
| Free Cash FlowOCF − Capex | $-350.5M | $27.5M |
| FCF MarginFCF / Revenue | -11.3% | 0.5% |
| Capex IntensityCapex / Revenue | 40.3% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.33× | 0.45× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $900.7M | $71.9M | ||
| Q3 25 | — | $-82.7M | ||
| Q2 25 | $855.8M | $107.8M | ||
| Q1 25 | $328.1M | $28.0M | ||
| Q4 24 | $811.7M | $276.6M | ||
| Q3 24 | — | $302.1M | ||
| Q2 24 | $1.3B | $-223.8M | ||
| Q1 24 | $801.7M | $746.3M |
| Q4 25 | $-350.5M | $27.5M | ||
| Q3 25 | — | $-95.9M | ||
| Q2 25 | $-640.0M | $86.0M | ||
| Q1 25 | $-1.6B | $7.6M | ||
| Q4 24 | $-1.3B | $252.3M | ||
| Q3 24 | — | $272.9M | ||
| Q2 24 | $-345.2M | $-244.6M | ||
| Q1 24 | $-867.7M | $725.9M |
| Q4 25 | -11.3% | 0.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | -21.2% | 1.5% | ||
| Q1 25 | -53.6% | 0.1% | ||
| Q4 24 | -44.5% | 4.6% | ||
| Q3 24 | — | 5.0% | ||
| Q2 24 | -11.6% | -4.5% | ||
| Q1 24 | -29.6% | 13.6% |
| Q4 25 | 40.3% | 0.7% | ||
| Q3 25 | 47.9% | 0.2% | ||
| Q2 25 | 49.5% | 0.4% | ||
| Q1 25 | 64.9% | 0.4% | ||
| Q4 24 | 72.2% | 0.4% | ||
| Q3 24 | 65.1% | 0.5% | ||
| Q2 24 | 53.8% | 0.4% | ||
| Q1 24 | 57.0% | 0.4% |
| Q4 25 | 1.33× | 0.45× | ||
| Q3 25 | — | -0.44× | ||
| Q2 25 | 1.20× | 0.62× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | 1.31× | 1.67× | ||
| Q3 24 | — | 1.48× | ||
| Q2 24 | 1.81× | -0.96× | ||
| Q1 24 | 1.40× | 6.44× |
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% |
WCC
| CSS | $2.4B | 40% |
| EES | $2.3B | 37% |
| UBS | $1.4B | 23% |
