Added to YB: 2024-02-19
Pitch date: 2024-02-18
APD [bullish]
Air Products and Chemicals, Inc.
Author Info
No bio for this author
Company Info
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally.
Market Cap
$68.8B
Pitch Price
N/A
Price Target
N/A
Dividend
2.34%
EV/EBITDA
46.86
P/E
-1.5K
EV/Sales
7.05
Sector
Chemicals
Category
value
Air Products & The Surprisingly Good Business That Is Industrial Gases.
APD (new position): Industrial gas moat biz (1 of 3 global players) w/ pricing power, long-term contracts, 41yr dividend aristocrat, 3.1% yield (highest since '08). EPS ~$12 rising to $14.86 by '26. Trades 18x fwd vs Linde 28x for similar 9-10% growth. Recent selloff overdone—driven by unwarranted hydrogen/green-capex fears ($32B 10yr projects). Bull: re-rate to 24-25x + growth. Ghasemi CEO. BofA upgrade.
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