AA vs. APD: Alcoa vs. Air Products and Chemicals Stock Comparison

November 11, 2026

How do Alcoa (AA) and Air Products and Chemicals (APD) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Alcoa (AA) and Air Products and Chemicals (APD) both fall under the Materials industry group, but AA is classified in Metals & Mining while APD is classified in Chemicals.

Company profile comparison for Alcoa (AA) and Air Products and Chemicals (APD)
Profile Item	AA	APD
Name	Alcoa Corporation	Air Products and Chemicals Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Chemicals
GICS Sub-Industry	Aluminum	Industrial Gases
Market Capitalization	10.44 billion USD	67.88 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

APD

GSPC

Alcoa (AA) vs. Air Products and Chemicals (APD), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Alcoa (AA) and Air Products and Chemicals (APD). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Alcoa (AA) and Air Products and Chemicals (APD). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Total Return (1Y)	12.55%	23.26%
Total Return (3Y, Annualized)	20.53%	8.49%
Total Return (5Y, Annualized)	-1.46%	2.43%

Risk Profile

Drawdown History

APD

GSPC

Alcoa (AA) vs. Air Products and Chemicals (APD), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Alcoa (AA) and Air Products and Chemicals (APD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Alcoa (AA) has an aggressive beta of 1.80, indicating higher sensitivity to broad-market moves, while Air Products and Chemicals (APD) is defensive at 0.67 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Volatility (1Y, Annualized)	53.37%	25.21%
Beta (5Y)	1.80	0.67
Max Drawdown (5Y)	-75.46%	-31.77%
Avg. Volume (3M)	4.61M	1.06M

Risk-Adjusted Performance

Risk-Return Positioning

AA and APD are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Sharpe Ratio (1Y)	0.16	0.75
Sortino Ratio (1Y)	0.23	1.14

Profitability

ROE (TTM)

Alcoa (AA) at 20.58% sits in the top ROE quartile, while Air Products and Chemicals (APD) at 3.19% is closer to the peer norm — stronger capital efficiency for AA.

AA

Materials industry group

20.58%

Max: 52.88%
AA: 20.58%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

APD

Materials industry group

3.19%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
APD: 3.19%
Q1: -3.41%
Min: -32.81%

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Both Alcoa (AA) at 10.68% and Air Products and Chemicals (APD) at 4.10% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

AA

Materials industry group

10.68%

Max: 38.66%
Q3: 15.98%
AA: 10.68%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

APD

Materials industry group

4.10%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
APD: 4.10%
Q1: 0.00%
Min: -20.40%

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Alcoa (AA) at 16.01% and Air Products and Chemicals (APD) at 17.68% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

AA

Materials industry group

16.01%

Max: 66.70%
Q3: 28.92%
AA: 16.01%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

APD

Materials industry group

17.68%

Max: 66.70%
Q3: 28.92%
APD: 17.68%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
ROE (TTM)	20.58%	3.19%
ROA (TTM)	7.52%	4.80%
Net Margin (TTM)	10.68%	4.10%
Operating Margin (TTM)	16.01%	17.68%
Gross Margin (TTM)	22.76%	31.58%

Growth

Revenue Growth

Alcoa (AA) at 7.87% is around its peer norm for revenue growth, while Air Products and Chemicals (APD) at -0.52% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their Revenue Growth across different time periods.

EPS Growth

Alcoa (AA) at 1,600.00% delivers above-range EPS growth, while Air Products and Chemicals (APD) at -110.30% falls into the bottom quartile — a wide split in earnings momentum.

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Revenue Growth (YoY)	7.87%	-0.52%
Revenue Growth (3Y CAGR)	1.01%	-1.77%
EPS Growth (YoY)	1,600.00%	-110.30%
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Alcoa (AA) at 2.31 keeps current ratio within its industry’s typical mid-range, while Air Products and Chemicals (APD) at 1.07 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for APD.

AA

Materials industry group

2.31

Max: 5.96
Q3: 3.30
AA: 2.31
Median: 2.24
Q1: 1.45
Min: 0.16

APD

Materials industry group

1.07

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
APD: 1.07
Min: 0.16

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Alcoa (AA) at 0.58 carries an industry-typical debt-to-equity mix, while Air Products and Chemicals (APD) at 1.06 uses more debt funding than most peers.

AA

Materials industry group

0.58

Max: 1.98
Q3: 0.89
AA: 0.58
Median: 0.47
Q1: 0.13
Min: 0.00

APD

Materials industry group

1.06

Max: 1.98
APD: 1.06
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Current Ratio (MRQ)	2.31	1.07
Debt / Equity (MRQ)	0.58	1.06
Net Debt / EBITDA	0.14	3.61

Dividends

Dividend Yield (TTM)

Air Products and Chemicals (APD) at 2.33% delivers top-quartile income for its industry, while Alcoa (AA) at 1.04% pays a more typical yield — both are credible income propositions, APD the richer one.

AA

Materials industry group

1.04%

Max: 4.52%
Q3: 1.85%
AA: 1.04%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

APD

Materials industry group

2.33%

Max: 4.52%
APD: 2.33%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Alcoa (AA) at 6.96% pays out a band-typical share of earnings, while Air Products and Chemicals (APD) at 75.66% distributes more than its industry norm — less retained, thinner cover.

AA

Materials industry group

6.96%

Max: 83.62%
Q3: 41.37%
Median: 9.54%
AA: 6.96%
Q1: 0.00%
Min: 0.00%

APD

Materials industry group

75.66%

Max: 83.62%
APD: 75.66%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
Dividend Yield (TTM)	1.04%	2.33%
Dividend Payout Ratio (TTM)	6.96%	75.66%

Valuation

P/E Ratio (TTM)

Alcoa (AA) at 6.88 sits in the cheaper P/E ratio quartile, while Air Products and Chemicals (APD) at 127.55 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

AA

Materials industry group

6.88

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
AA: 6.88
Min: 3.93

APD

Materials industry group

127.55

APD: 127.55
Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Alcoa (AA) at 0.73 looks cheap on sales in the lower P/S ratio quartile, while Air Products and Chemicals (APD) at 5.23 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

AA

Materials industry group

0.73

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
AA: 0.73
Min: 0.00

APD

Materials industry group

5.23

Max: 9.62
APD: 5.23
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Alcoa (AA) at 1.27 is valued about in line with its industry on P/B ratio, while Air Products and Chemicals (APD) at 4.76 carries an above-peer premium to book — APD is pricier on assets.

AA

Materials industry group

1.27

Max: 6.59
Q3: 3.55
Median: 2.08
AA: 1.27
Q1: 1.26
Min: -0.17

APD

Materials industry group

4.76

Max: 6.59
APD: 4.76
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Alcoa (AA) vs. Air Products and Chemicals (APD): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Alcoa (AA) and Air Products and Chemicals (APD)
Metric	AA	APD
P/E Ratio (TTM)	6.88	127.55
P/S Ratio (TTM)	0.73	5.23
P/B Ratio (MRQ)	1.27	4.76
Free Cash Flow Yield (TTM)	8.80%	-0.28%