AIR PRODUCTS AND CHEMICALS, INC. vs NUTRIEN LTD., two Chemicals stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Industrial gases against crop nutrients. Air Products sells oxygen, nitrogen and hydrogen through long-term contracts, earning a 16.91% net margin and 11.61% return on equity, priced at 29.38 times earnings and 3.41 times book, with free cash negative at -4.06% during a heavy build-out. Nutrien pairs fertilizer with ag retail, which held its net margin at 8.54% and return on equity at 9.06% through a soft cycle, and it generates a 7.17% free-cash yield with no net debt. Nutrien trades far cheaper at 1.17 times book. The gap is business shape: a contracted gas oligopoly commands a premium, a diversified fertilizer seller trades near the worth of its assets.
Comparison updated 2026-07-11.
| Metric | APD | NTR |
|---|---|---|
| Price | $299.48 | $65.42 |
| Market cap | $66.8B | $31.8B |
| Sector | Chemicals | Chemicals |
| Stage | Mature | Mature |
| Implied growth (priced in) | +24.4% | — |
| P/E | 31.7 | 14.0 |
| P/B | 3.68 | 1.25 |
| P/S | 5.36 | 1.18 |
| EV/EBITDA | 24.8 | 5.1 |
| Revenue growth | +3.8% | +1.6% |
| Gross margin | — | 31.1% |
| Operating margin | 23.7% | 13.9% |
| Net margin | 16.9% | 8.5% |
| Return on equity | 11.6% | 9.1% |
| Return on assets | 5.1% | 4.4% |
| Return on invested capital | 10.2% | 11.1% |
| FCF yield | -3.8% | 6.7% |
| Dividend yield | 2.4% | — |
| Debt / equity | 0.02 | 0.00 |
| Current ratio | 1.43 | 1.34 |
| Altman Z (solvency) | 2.72 | 1.87 |
| Piotroski F (quality) | 8 / 9 | 8 / 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.