AIR PRODUCTS AND CHEMICALS, INC. vs ICL GROUP LTD., two Chemicals stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Air Products makes industrial gases at scale, earning a 16.91% net margin and 11.61% return on equity, though a heavy capex phase leaves free cash negative at -4.06%. ICL Group mines potash and specialty minerals in Israel, with a much thinner 3.91% net margin and 4.49% return on equity, yet its free-cash yield is a strong 16.3%. The market values them differently: Air Products at 29.38 times earnings and 3.41 times book, ICL at 27.89 times earnings but only 1.04 times book. Air Products pays 2.57% in dividends. Air Products is a steady gas oligopolist spending on plants, ICL a cyclical miner generating cash but earning little on it.
Comparison updated 2026-07-11.
| Metric | APD | ICL |
|---|---|---|
| Price | $299.48 | $4.86 |
| Market cap | $66.8B | $6.3B |
| Sector | Chemicals | Chemicals |
| Stage | Mature | Mature |
| Implied growth (priced in) | +24.4% | -3.5% |
| P/E | 31.7 | 27.0 |
| P/B | 3.68 | 1.00 |
| P/S | 5.36 | 0.88 |
| EV/EBITDA | 24.8 | 4.6 |
| Revenue growth | +3.8% | +3.6% |
| Gross margin | — | 30.6% |
| Operating margin | 23.7% | 8.1% |
| Net margin | 16.9% | 3.9% |
| Return on equity | 11.6% | 4.5% |
| Return on assets | 5.1% | 2.3% |
| Return on invested capital | 10.2% | 5.9% |
| FCF yield | -3.8% | 16.8% |
| Dividend yield | 2.4% | — |
| Debt / equity | 0.02 | 0.00 |
| Current ratio | 1.43 | 1.33 |
| Altman Z (solvency) | 2.72 | 1.44 |
| Piotroski F (quality) | 8 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.