APD vs. MT: Air Products and Chemicals vs. ArcelorMittal Stock Comparison

November 11, 2026

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

Air Products and Chemicals (APD) trades as ordinary local shares, while ArcelorMittal (MT) 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 ArcelorMittal (MT)
Profile Item	APD	MT
Name	Air Products and Chemicals Inc.	ArcelorMittal NY Registry Shares
Country/Region	United States	Luxembourg
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Industrial Gases	Steel
Market Capitalization	67.88 billion USD	45.85 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	March 17, 1980	August 7, 1997
Security Type	Common Stock	ADR

Price Performance

Cumulative Growth

APD

GSPC

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

Calendar-Year Returns

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Calendar-year total returns for Air Products and Chemicals (APD) and ArcelorMittal (MT). 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 ArcelorMittal (MT)
Metric	APD	MT
Total Return (1Y)	23.26%	65.49%
Total Return (3Y, Annualized)	8.49%	45.03%
Total Return (5Y, Annualized)	2.43%	16.55%

Risk Profile

Drawdown History

APD

GSPC

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

Risk Metrics

ArcelorMittal (MT) has an aggressive beta of 1.49, 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 Air Products and Chemicals (APD) and ArcelorMittal (MT)
Metric	APD	MT
Volatility (1Y, Annualized)	25.21%	44.08%
Beta (5Y)	0.67	1.49
Max Drawdown (5Y)	-31.77%	-45.99%
Avg. Volume (3M)	1.06M	1.35M

Risk-Adjusted Performance

Risk-Return Positioning

APD and MT 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 ArcelorMittal (MT)
Metric	APD	MT
Sharpe Ratio (1Y)	0.75	1.39
Sortino Ratio (1Y)	1.14	2.23

Profitability

ROE (TTM)

Both Air Products and Chemicals (APD) at 3.19% and ArcelorMittal (MT) at 1.83% 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%

MT

Materials industry group

1.83%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
MT: 1.83%
Q1: -3.41%
Min: -32.81%

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

Net Margin (TTM)

Both Air Products and Chemicals (APD) at 4.10% and ArcelorMittal (MT) at 1.64% 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%

MT

Materials industry group

1.64%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
MT: 1.64%
Q1: 0.00%
Min: -20.40%

Air Products and Chemicals (APD) vs. ArcelorMittal (MT): 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 ArcelorMittal (MT) at 6.16% 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%

MT

Materials industry group

6.16%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
MT: 6.16%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Air Products and Chemicals (APD) and ArcelorMittal (MT)
Metric	APD	MT
ROE (TTM)	3.19%	1.83%
ROA (TTM)	4.80%	1.31%
Net Margin (TTM)	4.10%	1.64%
Operating Margin (TTM)	17.68%	6.16%
Gross Margin (TTM)	31.58%	8.16%

Growth

Revenue Growth

Both Air Products and Chemicals (APD) at -0.52% and ArcelorMittal (MT) at -1.74% post bottom-quartile revenue growth versus peers, pointing to weaker demand or pricing momentum than typical rivals.

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

EPS Growth

ArcelorMittal (MT) at 143.20% sits in the top EPS growth quartile, while Air Products and Chemicals (APD) at -110.30% is in the bottom quartile, showing a clear gap in earnings momentum.

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

Growth Metrics

Growth metrics for Air Products and Chemicals (APD) and ArcelorMittal (MT)
Metric	APD	MT
Revenue Growth (YoY)	-0.52%	-1.74%
Revenue Growth (3Y CAGR)	-1.77%	-8.41%
EPS Growth (YoY)	-110.30%	143.20%
EPS Growth (3Y CAGR)	--	-26.09%

Financial Strength

Current Ratio (MRQ)

Both Air Products and Chemicals (APD) at 1.07 and ArcelorMittal (MT) at 1.41 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

MT

Materials industry group

1.41

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
MT: 1.41
Min: 0.16

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

Debt / Equity (MRQ)

ArcelorMittal (MT) at 0.24 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

MT

Materials industry group

0.24

Max: 1.98
Q3: 0.89
Median: 0.47
MT: 0.24
Q1: 0.13
Min: 0.00

Air Products and Chemicals (APD) vs. ArcelorMittal (MT): 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 ArcelorMittal (MT)
Metric	APD	MT
Current Ratio (MRQ)	1.07	1.41
Debt / Equity (MRQ)	1.06	0.24
Net Debt / EBITDA	3.61	2.08

Dividends

Dividend Yield (TTM)

Air Products and Chemicals (APD) at 2.33% delivers top-quartile income for its industry, while ArcelorMittal (MT) at 0.99% 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%

MT

Materials industry group

0.99%

Max: 4.52%
Q3: 1.85%
MT: 0.99%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Air Products and Chemicals (APD) at 75.66% and ArcelorMittal (MT) at 52.92% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

APD

Materials industry group

75.66%

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

MT

Materials industry group

52.92%

Max: 83.62%
MT: 52.92%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Air Products and Chemicals (APD) and ArcelorMittal (MT)
Metric	APD	MT
Dividend Yield (TTM)	2.33%	0.99%
Dividend Payout Ratio (TTM)	75.66%	52.92%

Valuation

P/E Ratio (TTM)

Both look expensive on trailing earnings: ArcelorMittal (MT) at 44.51 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

MT

Materials industry group

44.51

Max: 59.00
MT: 44.51
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

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

P/S Ratio (TTM)

ArcelorMittal (MT) at 0.72 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

MT

Materials industry group

0.72

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
MT: 0.72
Min: 0.00

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

P/B Ratio (MRQ)

ArcelorMittal (MT) at 1.70 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

MT

Materials industry group

1.70

Max: 6.59
Q3: 3.55
Median: 2.08
MT: 1.70
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Air Products and Chemicals (APD) and ArcelorMittal (MT)
Metric	APD	MT
P/E Ratio (TTM)	127.55	44.51
P/S Ratio (TTM)	5.23	0.72
P/B Ratio (MRQ)	4.76	1.70
Free Cash Flow Yield (TTM)	-0.28%	-1.75%