Quick Answer
Air Products & Chemicals, Inc. reported R&D Expense of $96.30 million for fiscal year 2025.
Air Products & Chemicals, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $96.30M | -3.9% |
| 2024 | $100.20M | -5.1% |
| 2023 | $105.60M | +2.6% |
| 2022 | $102.90M | +10.1% |
| 2021 | $93.50M | +11.4% |
| 2020 | $83.90M | +15.1% |
| 2019 | $72.90M | +13.0% |
| 2018 | $64.50M | +12.0% |
| 2017 | $57.60M | -19.8% |
| 2016 | $71.80M | -6.0% |
| 2015 | $76.40M | -45.4% |
| 2014 | $139.80M | +4.6% |
| 2013 | $133.70M | +5.8% |
| 2012 | $126.40M | +6.4% |
| 2011 | $118.80M | +3.6% |
| 2010 | $114.70M | -1.4% |
| 2009 | $116.30M | -11.0% |
| 2008 | $130.70M | +1.3% |
| 2007 | $129.00M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| December 31, 2025 | $20.40M | -7.3% | -15.4% |
| June 30, 2025 | $24.10M | -10.7% | +5.2% |
| March 31, 2025 | $22.90M | -9.8% | +4.1% |
| December 31, 2024 | $22.00M | -14.4% | -18.5% |
| June 30, 2024 | $27.00M | -7.8% | +6.3% |
| March 31, 2024 | $25.40M | -6.6% | -1.2% |
| December 31, 2023 | $25.70M | +5.3% | -12.3% |
| June 30, 2023 | $29.30M | +18.1% | +7.7% |
- Air Products & Chemicals, Inc. showed a decrease of -3.9% in R&D Expense compared to the prior fiscal year.
- Over the 2007–2025 period, Air Products & Chemicals, Inc.’s r&d expense has declined by 25.3% (from $129.00 million to $96.30 million).
- The most recent figure is from Air Products & Chemicals, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on November 20, 2025.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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