Air Products and Chemicals Inc (APD) — Working Capital to Net Assets Ratio
Air Products and Chemicals Inc (APD) has a Working Capital to Net Assets ratio of 9.0% as of December 2025. Working capital of $1.61 Billion (current assets of $5.10 Billion minus current liabilities of $3.50 Billion) is measured against net assets of $17.84 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Air Products and Chemicals Inc net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Air Products and Chemicals Inc Working Capital to Net Assets (1985–2025)
This chart shows how Air Products and Chemicals Inc's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at 9.0%, reflecting working capital of $1.61 Billion against net assets of $17.84 Billion USD. Check APD goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Air Products and Chemicals Inc (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Air Products and Chemicals Inc from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Air Products and Chemicals Inc market cap and net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 9.3% | $1.61 Billion | $17.35 Billion | $5.83 Billion | $4.22 Billion | ▼ -2.4 pp |
| 2024 | 11.7% | $2.18 Billion | $18.67 Billion | $6.36 Billion | $4.18 Billion | ▲ +3.4 pp |
| 2023 | 8.3% | $1.30 Billion | $15.66 Billion | $5.20 Billion | $3.90 Billion | ▼ -12.2 pp |
| 2022 | 20.6% | $2.82 Billion | $13.70 Billion | $6.28 Billion | $3.47 Billion | ▼ -19.0 pp |
| 2021 | 39.6% | $5.58 Billion | $14.09 Billion | $8.38 Billion | $2.80 Billion | ▼ -10.8 pp |
| 2020 | 50.4% | $6.27 Billion | $12.44 Billion | $8.68 Billion | $2.42 Billion | ▲ +25.8 pp |
| 2019 | 24.6% | $2.80 Billion | $11.39 Billion | $4.62 Billion | $1.82 Billion | ▲ +0.0 pp |
| 2018 | 24.6% | $2.74 Billion | $11.18 Billion | $5.08 Billion | $2.34 Billion | ▼ -8.7 pp |
| 2017 | 33.3% | $3.39 Billion | $10.19 Billion | $5.88 Billion | $2.49 Billion | ▲ +18.9 pp |
| 2016 | 14.3% | $1.03 Billion | $7.21 Billion | $4.32 Billion | $3.28 Billion | ▲ +25.9 pp |
| 2015 | -11.6% | $-854.60 Million | $7.38 Billion | $2.79 Billion | $3.65 Billion | ▼ -16.0 pp |
| 2014 | 4.4% | $331.80 Million | $7.52 Billion | $3.29 Billion | $2.96 Billion | ▲ +1.5 pp |
| 2013 | 2.9% | $211.50 Million | $7.20 Billion | $3.44 Billion | $3.23 Billion | ▼ -8.0 pp |
| 2012 | 10.9% | $724.20 Million | $6.62 Billion | $3.42 Billion | $2.69 Billion | ▼ -3.3 pp |
| 2011 | 14.3% | $847.80 Million | $5.94 Billion | $3.19 Billion | $2.34 Billion | ▲ +0.3 pp |
| 2010 | 14.0% | $795.00 Million | $5.70 Billion | $3.03 Billion | $2.24 Billion | ▲ +3.9 pp |
| 2009 | 10.0% | $494.20 Million | $4.93 Billion | $3.00 Billion | $2.50 Billion | ▼ -2.3 pp |
| 2008 | 12.3% | $636.10 Million | $5.17 Billion | $2.85 Billion | $2.21 Billion | ▲ +4.6 pp |
| 2007 | 7.7% | $435.70 Million | $5.67 Billion | $2.86 Billion | $2.42 Billion | ▲ +2.0 pp |
| 2006 | 5.7% | $289.20 Million | $5.10 Billion | $2.61 Billion | $2.32 Billion | ▼ -4.3 pp |
| 2005 | 10.0% | $471.50 Million | $4.73 Billion | $2.41 Billion | $1.94 Billion | ▼ -5.4 pp |
| 2004 | 15.4% | $711.30 Million | $4.61 Billion | $2.42 Billion | $1.71 Billion | ▲ +3.0 pp |
| 2003 | 12.4% | $486.70 Million | $3.93 Billion | $2.07 Billion | $1.58 Billion | ▼ -5.5 pp |
| 2002 | 17.9% | $653.10 Million | $3.64 Billion | $1.91 Billion | $1.26 Billion | ▲ +7.6 pp |
| 2001 | 10.3% | $332.40 Million | $3.22 Billion | $1.68 Billion | $1.35 Billion | ▼ -4.3 pp |
| 2000 | 14.6% | $430.20 Million | $2.94 Billion | $1.80 Billion | $1.37 Billion | ▲ +17.1 pp |
| 1999 | -2.4% | $-75.40 Million | $3.09 Billion | $1.78 Billion | $1.86 Billion | ▼ -16.5 pp |
| 1998 | 14.1% | $376.10 Million | $2.67 Billion | $1.64 Billion | $1.27 Billion | ▼ -4.8 pp |
| 1997 | 18.9% | $499.70 Million | $2.65 Billion | $1.62 Billion | $1.12 Billion | ▲ +14.5 pp |
| 1996 | 4.4% | $112.00 Million | $2.57 Billion | $1.38 Billion | $1.26 Billion | ▲ +3.5 pp |
| 1995 | 0.9% | $21.00 Million | $2.40 Billion | $1.33 Billion | $1.31 Billion | ▼ -3.7 pp |
| 1994 | 4.6% | $101.30 Million | $2.21 Billion | $1.18 Billion | $1.08 Billion | ▼ -10.7 pp |
| 1993 | 15.3% | $322.30 Million | $2.10 Billion | $1.20 Billion | $874.00 Million | ▲ +2.0 pp |
| 1992 | 13.3% | $278.80 Million | $2.10 Billion | $998.10 Million | $719.30 Million | ▲ +7.0 pp |
| 1991 | 6.3% | $116.70 Million | $1.84 Billion | $901.20 Million | $784.50 Million | ▼ -6.4 pp |
| 1990 | 12.7% | $214.30 Million | $1.69 Billion | $837.30 Million | $623.00 Million | ▼ -5.5 pp |
| 1989 | 18.2% | $262.30 Million | $1.44 Billion | $756.80 Million | $494.50 Million | ▲ +9.5 pp |
| 1988 | 8.6% | $109.60 Million | $1.27 Billion | $626.30 Million | $516.70 Million | ▼ -4.0 pp |
| 1987 | 12.6% | $144.50 Million | $1.15 Billion | $577.90 Million | $433.40 Million | ▼ -8.5 pp |
| 1986 | 21.1% | $232.60 Million | $1.10 Billion | $704.50 Million | $471.90 Million | ▲ +8.7 pp |
| 1985 | 12.5% | $144.90 Million | $1.16 Billion | $638.10 Million | $493.20 Million | — |