APD vs. HMY: Air Products and Chemicals vs. Harmony Gold Mining Stock Comparison

November 11, 2026

How do Air Products and Chemicals (APD) and Harmony Gold Mining (HMY) 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 Harmony Gold Mining (HMY) both fall under the Materials industry group, but APD is classified in Chemicals while HMY is classified in Metals & Mining.

Air Products and Chemicals (APD) trades as ordinary local shares, while Harmony Gold Mining (HMY) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY)
Profile Item	APD	HMY
Name	Air Products and Chemicals Inc.	Harmony Gold Mining Company Limited - Depositary Receipt (Common Stock)
Country/Region	United States	South Africa
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Industrial Gases	Gold
Market Capitalization	67.88 billion USD	10.77 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	May 17, 1994
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

APD

HMY

GSPC

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY), 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 Harmony Gold Mining (HMY). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY). 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 Harmony Gold Mining (HMY)
Metric	APD	HMY
Total Return (1Y)	23.26%	10.98%
Total Return (3Y, Annualized)	8.49%	60.07%
Total Return (5Y, Annualized)	2.43%	39.44%

Risk Profile

Drawdown History

APD

HMY

GSPC

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY), 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 Harmony Gold Mining (HMY). 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 Harmony Gold Mining (HMY)
Metric	APD	HMY
Volatility (1Y, Annualized)	25.21%	63.56%
Beta (5Y)	0.67	1.08
Max Drawdown (5Y)	-31.77%	-62.48%
Avg. Volume (3M)	1.06M	3.68M

Risk-Adjusted Performance

Risk-Return Positioning

APD and HMY 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 Harmony Gold Mining (HMY)
Metric	APD	HMY
Sharpe Ratio (1Y)	0.75	0.11
Sortino Ratio (1Y)	1.14	0.15

Profitability

ROE (TTM)

Harmony Gold Mining (HMY) at 48.05% 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 HMY.

APD

Materials industry group

3.19%

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

HMY

Materials industry group

48.05%

Max: 52.88%
HMY: 48.05%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Harmony Gold Mining (HMY) at 29.57% retains a top-quartile share of revenue as profit, ahead of Air Products and Chemicals (APD) at 4.10%, which keeps about the industry-typical share.

APD

Materials industry group

4.10%

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

HMY

Materials industry group

29.57%

Max: 38.66%
HMY: 29.57%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Harmony Gold Mining (HMY) at 47.18% operates in the top operating margin quartile, ahead of Air Products and Chemicals (APD) at 17.68%, which runs around its industry’s norm.

APD

Materials industry group

17.68%

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

HMY

Materials industry group

47.18%

Max: 66.70%
HMY: 47.18%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY)
Metric	APD	HMY
ROE (TTM)	3.19%	48.05%
ROA (TTM)	4.80%	25.06%
Net Margin (TTM)	4.10%	29.57%
Operating Margin (TTM)	17.68%	47.18%
Gross Margin (TTM)	31.58%	49.62%

Growth

Revenue Growth

Only one side can be read here: Air Products and Chemicals (APD) reports revenue growth of -0.52%, ranked against its industry; Harmony Gold Mining (HMY) has no revenue growth figure this period.

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Air Products and Chemicals (APD) reports EPS growth of -110.30%, ranked against its industry; Harmony Gold Mining (HMY) has no EPS growth figure this period.

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY)
Metric	APD	HMY
Revenue Growth (YoY)	-0.52%	--
Revenue Growth (3Y CAGR)	-1.77%	26.28%
EPS Growth (YoY)	-110.30%	--
EPS Growth (3Y CAGR)	--	81.32%

Financial Strength

Current Ratio (MRQ)

Both Air Products and Chemicals (APD) at 1.07 and Harmony Gold Mining (HMY) at 0.84 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

HMY

Materials industry group

0.84

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
HMY: 0.84
Min: 0.16

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Harmony Gold Mining (HMY) at 0.13 keeps leverage in the lower quartile, while Air Products and Chemicals (APD) at 1.06 sits in the higher-leverage quartile.

APD

Materials industry group

1.06

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

HMY

Materials industry group

0.13

Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
HMY: 0.13
Min: 0.00

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): 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 Harmony Gold Mining (HMY)
Metric	APD	HMY
Current Ratio (MRQ)	1.07	0.84
Debt / Equity (MRQ)	1.06	0.13
Net Debt / EBITDA	3.61	0.02

Dividends

Dividend Yield (TTM)

Air Products and Chemicals (APD) at 2.33% earns its spot in the top quartile of its industry’s yields; Harmony Gold Mining (HMY) at 75.74% is past the top of its own peer range — territory where a dividend-safety check matters more than the headline number.

APD

Materials industry group

2.33%

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

HMY

Materials industry group

75.74%

HMY: 75.74%
Max: 4.52%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Harmony Gold Mining (HMY) at 15.28% 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%

HMY

Materials industry group

15.28%

Max: 83.62%
Q3: 41.37%
HMY: 15.28%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Air Products and Chemicals (APD) vs. Harmony Gold Mining (HMY): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY)
Metric	APD	HMY
Dividend Yield (TTM)	2.33%	75.74%
Dividend Payout Ratio (TTM)	75.66%	15.28%

Valuation

P/E Ratio (TTM)

Harmony Gold Mining (HMY) at 6.27 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.

APD

Materials industry group

127.55

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

HMY

Materials industry group

6.27

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
HMY: 6.27
Min: 3.93

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

P/S Ratio (TTM)

Harmony Gold Mining (HMY) at 0.11 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.

APD

Materials industry group

5.23

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

HMY

Materials industry group

0.11

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
HMY: 0.11
Min: 0.00

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

P/B Ratio (MRQ)

Harmony Gold Mining (HMY) at 2.34 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.

APD

Materials industry group

4.76

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

HMY

Materials industry group

2.34

Max: 6.59
Q3: 3.55
HMY: 2.34
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Air Products and Chemicals (APD) and Harmony Gold Mining (HMY)
Metric	APD	HMY
P/E Ratio (TTM)	127.55	6.27
P/S Ratio (TTM)	5.23	0.11
P/B Ratio (MRQ)	4.76	2.34
Free Cash Flow Yield (TTM)	-0.28%	91.49%