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Air Products & Chemicals vs Valhi: APD and VHI compared
Air Products & Chemicals is the larger company: $3.6B of revenue in its latest quarter (Q4 FY26) against $589M for Valhi (Q3 2026). Valhi is growing faster (+17% against +12% a year earlier). Air Products & Chemicals is more profitable, with an operating margin of 17.8% against 11.4%.
Where the money goes: APD and VHI
Air Products & Chemicals (APD) · Q4 FY26
Air Products & Chemicals, Q4 FY26: revenue $3.6B (+12% year over year), operating margin 17.8%, net earnings $584M. The chart follows the revenue to costs, profit and cash.
Valhi (VHI) · Q3 2026
Valhi, Q3 2026: revenue $589M (+17% year over year), operating margin 11.4%, net earnings $30.2M, operating cash flow $58.7M. The chart follows the revenue to costs, profit and cash.
| Air Products & Chemicals (APD) | Valhi (VHI) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $3.6B | $589M |
| Revenue growth, Y/Y | +12% | +17% |
| Gross margin | — | 24.1% |
| Operating margin | 17.8% | 11.4% |
| Net earnings | $584M | $30.2M |
| Net margin | 16.4% | 5.1% |
| Operating cash flow | — | $58.7M |
| Free cash flow | — | $43.6M |
| Market value | $67.9B | $460M |
| P/E | — | 22.1× |
| Analysts’ mean target | $342.67 | — |
Where the revenue comes from
Valhi
- Chemicals: $541M (92%)
- Component products: $44.0M (7%)
- Real estate management and development: $3.9M (1%)
Questions
Which is bigger, Air Products & Chemicals or Valhi?
Air Products & Chemicals is the larger company: $3.6B of revenue in its latest quarter (Q4 FY26) against $589M for Valhi (Q3 2026).
Is Air Products & Chemicals or Valhi growing faster?
Valhi is growing faster (+17% against +12% a year earlier).
Which is more profitable, Air Products & Chemicals or Valhi?
Air Products & Chemicals is more profitable, with an operating margin of 17.8% against 11.4%.
More: Air Products & Chemicals earnings · how Air Products & Chemicals makes money · Valhi earnings · how Valhi makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.