vs
Side-by-side financial comparison of Air Products (APD) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Block, Inc. is the larger business by last-quarter revenue ($6.3B vs $3.2B, roughly 2.0× Air Products). Air Products runs the higher net margin — 22.9% vs 1.9%, a 21.0% gap on every dollar of revenue. On growth, Air Products posted the faster year-over-year revenue change (8.8% vs 3.6%). Over the past eight quarters, Air Products's revenue compounded faster (3.1% CAGR vs 2.4%).
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...
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
APD vs XYZ — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $6.3B |
| Net Profit | $724.8M | $115.8M |
| Gross Margin | 31.1% | 45.9% |
| Operating Margin | — | 7.8% |
| Net Margin | 22.9% | 1.9% |
| Revenue YoY | 8.8% | 3.6% |
| Net Profit YoY | 166.6% | -94.1% |
| EPS (diluted) | $3.19 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $3.2B | $6.1B | ||
| Q2 25 | $3.0B | $6.1B | ||
| Q1 25 | $2.9B | $5.8B | ||
| Q4 24 | $2.9B | $6.0B | ||
| Q3 24 | $3.2B | $6.0B | ||
| Q2 24 | $3.0B | $6.2B |
| Q1 26 | $724.8M | — | ||
| Q4 25 | $678.2M | $115.8M | ||
| Q3 25 | $4.9M | $461.5M | ||
| Q2 25 | $713.8M | $538.5M | ||
| Q1 25 | $-1.7B | $189.9M | ||
| Q4 24 | $617.4M | $1.9B | ||
| Q3 24 | $1.9B | $283.8M | ||
| Q2 24 | $696.6M | $195.3M |
| Q1 26 | 31.1% | — | ||
| Q4 25 | 32.1% | 45.9% | ||
| Q3 25 | 32.3% | 43.5% | ||
| Q2 25 | 32.5% | 41.9% | ||
| Q1 25 | 29.6% | 39.7% | ||
| Q4 24 | 31.2% | 38.3% | ||
| Q3 24 | 34.0% | 37.6% | ||
| Q2 24 | 32.8% | 36.3% |
| Q1 26 | — | — | ||
| Q4 25 | 23.7% | 7.8% | ||
| Q3 25 | 0.5% | 6.7% | ||
| Q2 25 | 26.2% | 8.0% | ||
| Q1 25 | -79.8% | 5.7% | ||
| Q4 24 | 22.0% | 0.2% | ||
| Q3 24 | 76.1% | 5.4% | ||
| Q2 24 | 24.7% | 5.0% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 21.9% | 1.9% | ||
| Q3 25 | 0.2% | 7.5% | ||
| Q2 25 | 23.6% | 8.9% | ||
| Q1 25 | -59.3% | 3.3% | ||
| Q4 24 | 21.1% | 32.3% | ||
| Q3 24 | 61.2% | 4.7% | ||
| Q2 24 | 23.3% | 3.2% |
| Q1 26 | $3.19 | — | ||
| Q4 25 | $3.04 | $0.19 | ||
| Q3 25 | $0.03 | $0.74 | ||
| Q2 25 | $3.20 | $0.87 | ||
| Q1 25 | $-7.77 | $0.30 | ||
| Q4 24 | $2.77 | $3.06 | ||
| Q3 24 | $8.75 | $0.45 | ||
| Q2 24 | $3.13 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $6.6B |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | $22.2B |
| Total Assets | $41.6M | $39.5B |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $6.6B | ||
| Q3 25 | $1.9B | $8.3B | ||
| Q2 25 | $2.3B | $6.4B | ||
| Q1 25 | $1.6B | $7.1B | ||
| Q4 24 | $2.0B | $8.1B | ||
| Q3 24 | $3.0B | $8.3B | ||
| Q2 24 | $2.4B | $7.8B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $22.2B | ||
| Q3 25 | $15.0B | $22.5B | ||
| Q2 25 | $15.5B | $22.2B | ||
| Q1 25 | $14.7B | $21.5B | ||
| Q4 24 | $16.7B | $21.3B | ||
| Q3 24 | $17.0B | $19.9B | ||
| Q2 24 | $15.1B | $19.3B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $39.5B | ||
| Q3 25 | $41.1B | $39.2B | ||
| Q2 25 | $41.7B | $36.9B | ||
| Q1 25 | $38.9B | $36.4B | ||
| Q4 24 | $40.0B | $36.8B | ||
| Q3 24 | $39.6B | $36.4B | ||
| Q2 24 | $37.0B | $37.5B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× |
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 | — | $621.0M |
| Free Cash FlowOCF − Capex | — | $579.8M |
| FCF MarginFCF / Revenue | — | 9.3% |
| Capex IntensityCapex / Revenue | 56.4% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $900.7M | $621.0M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $855.8M | $374.3M | ||
| Q1 25 | $328.1M | $133.3M | ||
| Q4 24 | $811.7M | $13.8M | ||
| Q3 24 | — | $684.8M | ||
| Q2 24 | $1.3B | $519.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-350.5M | $579.8M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | $-640.0M | $343.0M | ||
| Q1 25 | $-1.6B | $101.5M | ||
| Q4 24 | $-1.3B | $-13.2M | ||
| Q3 24 | — | $628.2M | ||
| Q2 24 | $-345.2M | $481.0M |
| Q1 26 | — | — | ||
| Q4 25 | -11.3% | 9.3% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | -21.2% | 5.7% | ||
| Q1 25 | -53.6% | 1.8% | ||
| Q4 24 | -44.5% | -0.2% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | -11.6% | 7.8% |
| Q1 26 | 56.4% | — | ||
| Q4 25 | 40.3% | 0.7% | ||
| Q3 25 | 47.9% | 0.8% | ||
| Q2 25 | 49.5% | 0.5% | ||
| Q1 25 | 64.9% | 0.6% | ||
| Q4 24 | 72.2% | 0.4% | ||
| Q3 24 | 65.1% | 0.9% | ||
| Q2 24 | 53.8% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 5.36× | ||
| Q3 25 | — | 3.14× | ||
| Q2 25 | 1.20× | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | 1.31× | 0.01× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | 1.81× | 2.66× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
