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Side-by-side financial comparison of Air Products (APD) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Air Products is the larger business by last-quarter revenue ($3.2B vs $2.4B, roughly 1.3× Workday, Inc.). Air Products runs the higher net margin — 22.9% vs 10.4%, a 12.5% gap on every dollar of revenue. On growth, Workday, Inc. posted the faster year-over-year revenue change (12.6% vs 8.8%). Over the past eight quarters, Workday, Inc.'s revenue compounded faster (12.5% 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...
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
APD vs WDAY — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $2.4B |
| Net Profit | $724.8M | $252.0M |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 10.6% |
| Net Margin | 22.9% | 10.4% |
| Revenue YoY | 8.8% | 12.6% |
| Net Profit YoY | 166.6% | 30.6% |
| EPS (diluted) | $3.19 | $0.94 |
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 | $2.4B | ||
| Q3 25 | $3.2B | $2.3B | ||
| Q2 25 | $3.0B | $2.2B | ||
| Q1 25 | $2.9B | $2.2B | ||
| Q4 24 | $2.9B | $2.2B | ||
| Q3 24 | $3.2B | $2.1B | ||
| Q2 24 | $3.0B | $2.0B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $252.0M | ||
| Q3 25 | $4.9M | $228.0M | ||
| Q2 25 | $713.8M | $68.0M | ||
| Q1 25 | $-1.7B | $94.0M | ||
| Q4 24 | $617.4M | $193.0M | ||
| Q3 24 | $1.9B | $132.0M | ||
| Q2 24 | $696.6M | $107.0M |
| 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% | 10.6% | ||
| Q3 25 | 0.5% | 10.6% | ||
| Q2 25 | 26.2% | 1.7% | ||
| Q1 25 | -79.8% | 3.4% | ||
| Q4 24 | 22.0% | 7.6% | ||
| Q3 24 | 76.1% | 5.3% | ||
| Q2 24 | 24.7% | 3.2% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 10.4% | ||
| Q3 25 | 0.2% | 9.7% | ||
| Q2 25 | 23.6% | 3.0% | ||
| Q1 25 | -59.3% | 4.3% | ||
| Q4 24 | 21.1% | 8.9% | ||
| Q3 24 | 61.2% | 6.3% | ||
| Q2 24 | 23.3% | 5.4% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | $0.94 | ||
| Q3 25 | $0.03 | $0.84 | ||
| Q2 25 | $3.20 | $0.25 | ||
| Q1 25 | $-7.77 | $0.34 | ||
| Q4 24 | $2.77 | $0.72 | ||
| Q3 24 | $8.75 | $0.49 | ||
| Q2 24 | $3.13 | $0.40 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $6.8B |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | $8.9B |
| Total Assets | $41.6M | $17.8B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $6.8B | ||
| Q3 25 | $1.9B | $8.2B | ||
| Q2 25 | $2.3B | $8.0B | ||
| Q1 25 | $1.6B | $8.0B | ||
| Q4 24 | $2.0B | $7.2B | ||
| Q3 24 | $3.0B | $7.4B | ||
| Q2 24 | $2.4B | $7.2B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $3.0B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $8.9B | ||
| Q3 25 | $15.0B | $9.2B | ||
| Q2 25 | $15.5B | $8.9B | ||
| Q1 25 | $14.7B | $9.0B | ||
| Q4 24 | $16.7B | $8.6B | ||
| Q3 24 | $17.0B | $8.3B | ||
| Q2 24 | $15.1B | $8.2B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $17.8B | ||
| Q3 25 | $41.1B | $18.0B | ||
| Q2 25 | $41.7B | $17.2B | ||
| Q1 25 | $38.9B | $18.0B | ||
| Q4 24 | $40.0B | $16.4B | ||
| Q3 24 | $39.6B | $16.2B | ||
| Q2 24 | $37.0B | $15.9B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.37× |
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 | — | $588.0M |
| Free Cash FlowOCF − Capex | — | $550.0M |
| FCF MarginFCF / Revenue | — | 22.6% |
| Capex IntensityCapex / Revenue | 56.4% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $588.0M | ||
| Q3 25 | — | $616.0M | ||
| Q2 25 | $855.8M | $457.0M | ||
| Q1 25 | $328.1M | $1.1B | ||
| Q4 24 | $811.7M | $406.0M | ||
| Q3 24 | — | $571.0M | ||
| Q2 24 | $1.3B | $372.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $550.0M | ||
| Q3 25 | — | $588.0M | ||
| Q2 25 | $-640.0M | $421.0M | ||
| Q1 25 | $-1.6B | $1.0B | ||
| Q4 24 | $-1.3B | $359.0M | ||
| Q3 24 | — | $516.0M | ||
| Q2 24 | $-345.2M | $291.0M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 22.6% | ||
| Q3 25 | — | 25.0% | ||
| Q2 25 | -21.2% | 18.8% | ||
| Q1 25 | -53.6% | 46.4% | ||
| Q4 24 | -44.5% | 16.6% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | -11.6% | 14.6% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 1.6% | ||
| Q3 25 | 47.9% | 1.2% | ||
| Q2 25 | 49.5% | 1.6% | ||
| Q1 25 | 64.9% | 3.9% | ||
| Q4 24 | 72.2% | 2.2% | ||
| Q3 24 | 65.1% | 2.6% | ||
| Q2 24 | 53.8% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 2.33× | ||
| Q3 25 | — | 2.70× | ||
| Q2 25 | 1.20× | 6.72× | ||
| Q1 25 | — | 11.83× | ||
| Q4 24 | 1.31× | 2.10× | ||
| Q3 24 | — | 4.33× | ||
| Q2 24 | 1.81× | 3.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
