APD vs. ECL: Air Products and Chemicals vs. Ecolab Stock Comparison

November 11, 2026

How do Air Products and Chemicals (APD) and Ecolab (ECL) 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

Air Products and Chemicals (APD) and Ecolab (ECL) both belong to the Chemicals industry, though APD is classified under Industrial Gases while ECL falls under Specialty Chemicals.

Company profile comparison for Air Products and Chemicals (APD) and Ecolab (ECL)
Profile Item	APD	ECL
Name	Air Products and Chemicals Inc.	Ecolab Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Chemicals
GICS Sub-Industry	Industrial Gases	Specialty Chemicals
Market Capitalization	67.88 billion USD	84.33 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

APD

ECL

GSPC

Air Products and Chemicals (APD) vs. Ecolab (ECL), 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 Air Products and Chemicals (APD) and Ecolab (ECL). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Total Return (1Y)	23.26%	20.33%
Total Return (3Y, Annualized)	8.49%	21.41%
Total Return (5Y, Annualized)	2.43%	6.90%

Risk Profile

Drawdown History

APD

ECL

GSPC

Air Products and Chemicals (APD) vs. Ecolab (ECL), 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 Air Products and Chemicals (APD) and Ecolab (ECL). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Volatility (1Y, Annualized)	25.21%	21.72%
Beta (5Y)	0.67	0.84
Max Drawdown (5Y)	-31.77%	-43.70%
Avg. Volume (3M)	1.06M	1.40M

Risk-Adjusted Performance

Risk-Return Positioning

APD and ECL 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 Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Sharpe Ratio (1Y)	0.75	0.74
Sortino Ratio (1Y)	1.14	1.13

Profitability

ROE (TTM)

Ecolab (ECL) at 20.77% 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 ECL.

APD

Materials industry group

3.19%

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

ECL

Materials industry group

20.77%

Max: 52.88%
ECL: 20.77%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

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

Net Margin (TTM)

Both Air Products and Chemicals (APD) at 4.10% and Ecolab (ECL) at 11.99% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

APD

Materials industry group

4.10%

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

ECL

Materials industry group

11.99%

Max: 38.66%
Q3: 15.98%
ECL: 11.99%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

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

Operating Margin (TTM)

Both Air Products and Chemicals (APD) at 17.68% and Ecolab (ECL) at 19.22% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

APD

Materials industry group

17.68%

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

ECL

Materials industry group

19.22%

Max: 66.70%
Q3: 28.92%
ECL: 19.22%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
ROE (TTM)	3.19%	20.77%
ROA (TTM)	4.80%	7.29%
Net Margin (TTM)	4.10%	11.99%
Operating Margin (TTM)	17.68%	19.22%
Gross Margin (TTM)	31.58%	44.04%

Growth

Revenue Growth

Ecolab (ECL) at 2.16% 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.

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

EPS Growth

Ecolab (ECL) at -1.22% is around its peer norm for EPS growth, while Air Products and Chemicals (APD) at -110.30% drops into the bottom quartile, signaling weaker earnings momentum.

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

Growth Metrics

Growth metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Revenue Growth (YoY)	-0.52%	2.16%
Revenue Growth (3Y CAGR)	-1.77%	4.26%
EPS Growth (YoY)	-110.30%	-1.22%
EPS Growth (3Y CAGR)	--	24.09%

Financial Strength

Current Ratio (MRQ)

Both Air Products and Chemicals (APD) at 1.07 and Ecolab (ECL) at 1.11 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

APD

Materials industry group

1.07

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

ECL

Materials industry group

1.11

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
ECL: 1.11
Min: 0.16

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

Debt / Equity (MRQ)

Both Air Products and Chemicals (APD) at 1.06 and Ecolab (ECL) at 1.33 lean more heavily on debt funding than most peers, landing in the higher-leverage quartile of their industries.

APD

Materials industry group

1.06

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

ECL

Materials industry group

1.33

Max: 1.98
ECL: 1.33
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Current Ratio (MRQ)	1.07	1.11
Debt / Equity (MRQ)	1.06	1.33
Net Debt / EBITDA	3.61	3.09

Dividends

Dividend Yield (TTM)

Air Products and Chemicals (APD) at 2.33% delivers top-quartile income for its industry, while Ecolab (ECL) at 0.95% pays a more typical yield — both are credible income propositions, APD the richer one.

APD

Materials industry group

2.33%

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

ECL

Materials industry group

0.95%

Max: 4.52%
Q3: 1.85%
ECL: 0.95%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Ecolab (ECL) at 39.73% 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.

APD

Materials industry group

75.66%

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

ECL

Materials industry group

39.73%

Max: 83.62%
Q3: 41.37%
ECL: 39.73%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
Dividend Yield (TTM)	2.33%	0.95%
Dividend Payout Ratio (TTM)	75.66%	39.73%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Ecolab (ECL) at 40.91 sits in the richer P/E ratio quartile, and Air Products and Chemicals (APD) at 127.55 is richer still, above its industry range.

APD

Materials industry group

127.55

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

ECL

Materials industry group

40.91

Max: 59.00
ECL: 40.91
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

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

P/S Ratio (TTM)

Both Air Products and Chemicals (APD) at 5.23 and Ecolab (ECL) at 4.85 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

APD

Materials industry group

5.23

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

ECL

Materials industry group

4.85

Max: 9.62
ECL: 4.85
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

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

P/B Ratio (MRQ)

Both look rich against book: Air Products and Chemicals (APD) at 4.76 sits in the upper P/B ratio quartile, and Ecolab (ECL) at 8.09 prices even higher, above its industry range.

APD

Materials industry group

4.76

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

ECL

Materials industry group

8.09

ECL: 8.09
Max: 6.59
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Air Products and Chemicals (APD) and Ecolab (ECL)
Metric	APD	ECL
P/E Ratio (TTM)	127.55	40.91
P/S Ratio (TTM)	5.23	4.85
P/B Ratio (MRQ)	4.76	8.09
Free Cash Flow Yield (TTM)	-0.28%	1.71%