Air Products (APD) r&d spend was $96M in FY2025 (-4% YoY). The tables below show the complete quarterly and annual r&d spend history, sourced from SEC EDGAR 10-K and 10-Q filings.
Annual R&D Spend
Fiscal Year
R&D Spend
YoY
2025
$96M
-4%
2024
$100M
-5%
2023
$106M
+3%
2022
$103M
+10%
2021
$94M
+11%
2020
$84M
+15%
2019
$73M
+13%
2018
$64M
+12%
2017
$58M
-20%
2016
$72M
-6%
2015
$76M
-45%
2014
$140M
+5%
2013
$134M
+6%
2012
$126M
+6%
2011
$119M
+4%
2010
$115M
-1%
2009
$116M
-11%
2008
$131M
+1%
2007
$129M
Recent Quarterly R&D Spend
Quarter
R&D Spend
Q2 2026
$22M
Q1 2026
$22M
Q4 2025
$20M
Q3 2025
$27M
Q2 2025
$24M
Q1 2025
$23M
Q4 2024
$22M
Q3 2024
$22M
Q2 2024
$27M
Q1 2024
$25M
Q4 2023
$26M
Q3 2023
$25M
Source: APD on EDGAR. Data from SEC EDGAR 10-K and 10-Q filings. Updated quarterly.