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What drives AIR PRODUCTS AND CHEMICALS, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity−2%Tax burden90%net income ÷ pretax incomeInterest burden50%pretax ÷ operating incomeOperating margin−7%operating income ÷ revenueAsset turnover0.30×revenue ÷ average assetsEquity multiplier2.51×average assets ÷ average equityAs of 2025-09-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$395MFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
Income before tax−$441MFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
Operating income−$877MFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
$12.0BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
Ending assets$41.1BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
Beginning assets$39.6BFY2024
  • 10-K · FY 2024Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
$15.0BFY2025
  • 10-K · FY 2025Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
$17.0BFY2024
  • 10-K · FY 2024Filing detailsAccession 0000002969-25-000055 · filed Nov 20, 2025
Source: · event Sep 30, 2025 · retrieved Oct 16, 2026 · annual-row source set
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