APD vs. MLM: Air Products and Chemicals vs. Martin Marietta Materials Stock Comparison

November 11, 2026

How do Air Products and Chemicals (APD) and Martin Marietta Materials (MLM) 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 Martin Marietta Materials (MLM) both fall under the Materials industry group, but APD is classified in Chemicals while MLM is classified in Construction Materials.

Company profile comparison for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM)
Profile Item	APD	MLM
Name	Air Products and Chemicals Inc.	Martin Marietta Materials, Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Construction Materials
GICS Sub-Industry	Industrial Gases	Construction Materials
Market Capitalization	67.88 billion USD	36.85 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	February 17, 1994
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

APD

MLM

GSPC

Air Products and Chemicals (APD) vs. Martin Marietta Materials (MLM), 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 Martin Marietta Materials (MLM). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM). 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 Martin Marietta Materials (MLM)
Metric	APD	MLM
Total Return (1Y)	23.26%	-12.23%
Total Return (3Y, Annualized)	8.49%	6.32%
Total Return (5Y, Annualized)	2.43%	5.43%

Risk Profile

Drawdown History

APD

MLM

GSPC

Air Products and Chemicals (APD) vs. Martin Marietta Materials (MLM), 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 Martin Marietta Materials (MLM). 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 Martin Marietta Materials (MLM)
Metric	APD	MLM
Volatility (1Y, Annualized)	25.21%	29.72%
Beta (5Y)	0.67	1.02
Max Drawdown (5Y)	-31.77%	-33.19%
Avg. Volume (3M)	1.06M	805.11K

Risk-Adjusted Performance

Risk-Return Positioning

APD and MLM 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 Martin Marietta Materials (MLM)
Metric	APD	MLM
Sharpe Ratio (1Y)	0.75	-0.56
Sortino Ratio (1Y)	1.14	-0.75

Profitability

ROE (TTM)

Both Air Products and Chemicals (APD) at 3.19% and Martin Marietta Materials (MLM) at 6.02% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

APD

Materials industry group

3.19%

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

MLM

Materials industry group

6.02%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
MLM: 6.02%
Q1: -3.41%
Min: -32.81%

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

Net Margin (TTM)

Martin Marietta Materials (MLM) at 31.88% 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%

MLM

Materials industry group

31.88%

Max: 38.66%
MLM: 31.88%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Air Products and Chemicals (APD) vs. Martin Marietta Materials (MLM): 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 Martin Marietta Materials (MLM) at 22.29% 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%

MLM

Materials industry group

22.29%

Max: 66.70%
Q3: 28.92%
MLM: 22.29%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM)
Metric	APD	MLM
ROE (TTM)	3.19%	6.02%
ROA (TTM)	4.80%	3.27%
Net Margin (TTM)	4.10%	31.88%
Operating Margin (TTM)	17.68%	22.29%
Gross Margin (TTM)	31.58%	26.74%

Growth

Revenue Growth

Martin Marietta Materials (MLM) at 8.62% 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. Martin Marietta Materials (MLM): A comparison of their Revenue Growth across different time periods.

EPS Growth

Martin Marietta Materials (MLM) at -42.09% 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. Martin Marietta Materials (MLM): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM)
Metric	APD	MLM
Revenue Growth (YoY)	-0.52%	8.62%
Revenue Growth (3Y CAGR)	-1.77%	-0.06%
EPS Growth (YoY)	-110.30%	-42.09%
EPS Growth (3Y CAGR)	--	10.61%

Financial Strength

Current Ratio (MRQ)

Martin Marietta Materials (MLM) at 1.63 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.

APD

Materials industry group

1.07

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

MLM

Materials industry group

1.63

Max: 5.96
Q3: 3.30
Median: 2.24
MLM: 1.63
Q1: 1.45
Min: 0.16

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

Debt / Equity (MRQ)

Martin Marietta Materials (MLM) at 0.75 carries an industry-typical debt-to-equity mix, while Air Products and Chemicals (APD) at 1.06 uses more debt funding than most peers.

APD

Materials industry group

1.06

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

MLM

Materials industry group

0.75

Max: 1.98
Q3: 0.89
MLM: 0.75
Median: 0.47
Q1: 0.13
Min: 0.00

Air Products and Chemicals (APD) vs. Martin Marietta Materials (MLM): 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 Martin Marietta Materials (MLM)
Metric	APD	MLM
Current Ratio (MRQ)	1.07	1.63
Debt / Equity (MRQ)	1.06	0.75
Net Debt / EBITDA	3.61	5.88

Dividends

Dividend Yield (TTM)

Air Products and Chemicals (APD) at 2.33% delivers top-quartile income for its industry, while Martin Marietta Materials (MLM) at 0.63% 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%

MLM

Materials industry group

0.63%

Max: 4.52%
Q3: 1.85%
MLM: 0.63%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Martin Marietta Materials (MLM) at 24.85% 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%

MLM

Materials industry group

24.85%

Max: 83.62%
Q3: 41.37%
MLM: 24.85%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM)
Metric	APD	MLM
Dividend Yield (TTM)	2.33%	0.63%
Dividend Payout Ratio (TTM)	75.66%	24.85%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: Martin Marietta Materials (MLM) at 38.67 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

MLM

Materials industry group

38.67

Max: 59.00
MLM: 38.67
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Air Products and Chemicals (APD) vs. Martin Marietta Materials (MLM): 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 Martin Marietta Materials (MLM) at 5.11 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

MLM

Materials industry group

5.11

Max: 9.62
MLM: 5.11
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

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

P/B Ratio (MRQ)

Martin Marietta Materials (MLM) at 2.09 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

MLM

Materials industry group

2.09

Max: 6.59
Q3: 3.55
MLM: 2.09
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Air Products and Chemicals (APD) and Martin Marietta Materials (MLM)
Metric	APD	MLM
P/E Ratio (TTM)	127.55	38.67
P/S Ratio (TTM)	5.23	5.11
P/B Ratio (MRQ)	4.76	2.09
Free Cash Flow Yield (TTM)	-0.28%	4.54%