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Stock Comparison · Structural lead, mixed market

Antofagasta vs Air Products and Chemicals: Which Stock Looks Stronger in 2026?

Antofagasta holds the cleaner structural position, with profitability as the main driver and valuation adding further support. Air Products and Chemicals still has the edge on valuation, which keeps the comparison from looking entirely one-sided. The market setup is mixed, without a decisive signal in either direction. The market is not adding a decisive signal either way — the structural read carries the weight.

The comparison is based on similar long-term financial trajectories, not sector labels. Peer scores are normalised within each company's primary universe (ANTO.L: STOXX 600, APD: Russell 1000).

Updated 2026-05-17

Profitability still does most of the heavy lifting in this comparison. Antofagasta plc leads by 20 points on the overall comparison score.

Trajectory Similarity
0.71
Similar
Peer-set rank: #4
within Antofagasta plc's functional peer set

This pair is matched through long-term financial trajectory similarity within the selected peer universe.

The pair sits on a clearly comparable long-term path, though it is not a near-twin match.

Most of the shared profile comes through margin trend and investment intensity.

Similarity drivers
margin trendinvestment intensity
What reduces the match
recent revenue growth
How to read the score
0.85–1.00 · Very similar0.70–0.84 · Similar0.55–0.69 · Moderately similarbelow 0.55 · Loose match
Peer-Relative Score
ANTO.L
Antofagasta plc
56
Peer-Score
Signal qualitylow
Peer basis: STOXX 600
vs
APD
Air Products and Chemicals, Inc.
36
Peer-Score
Signal qualitylow
Peer basis: Russell 1000

Scores reflect position relative to comparable companies with similar long-term financial trajectories.

The largest gaps do not all point in the same direction.

Dimension spread: ANTO.L vs APD Profitability 92 16 Stability 25 24 Valuation 36 53 Growth 64 53 ANTO.L APD
Gap Ranking
#1 Profitability +76
#2 Valuation +17
#3 Growth +11
#4 Stability +1
Price Setup

Left means cheaper relative valuation. Higher means stronger structure.

Price setup map for ANTO.L and APD Stronger + cheaper Stronger + richer Weaker + cheaper Weaker + richer ANTO.LAPD Relative valuation Structural strength

Antofagasta plc holds the stronger structural profile, but the price setup still leans toward Air Products and Chemicals, Inc..

Valuation position uses peer-relative PE percentile (idx_pct_pe) where available.

Relative Position vs Comparable Companies
Profitability
On profitability, Antofagasta plc ranks near the top of the group; Air Products and Chemicals, Inc. sits in the weaker half.
Valuation
Air Products and Chemicals, Inc. sits in the stronger part of the group on valuation, while Antofagasta plc is closer to mid-pack.
Profitability — Dominant Gap
ANTO.L
92
APD
16
Gap+76in favour of ANTO.L

The profitability lead is mainly driven by a 19.6-point operating margin advantage.

What keeps the gap from being one-sided

Absolute pricing still looks more supportive for Air Products and Chemicals, with a forward P/E that is 8.2 turns lower there.

What this means for the comparison

The profitability lead is clear, but pricing and valuation still pull in the other direction — the result holds, but not without friction.

Explore full peer positioning in AssetNext

Break down the ANTO.L vs APD comparison across all dimensions with the full interactive tool.

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Similar profitability-driven comparisons

Explore how ANTO.L and APD each compare against other companies in their peer groups.

Rule-based, descriptive analysis only. Derived from peer percentile dimensions. Not investment advice. Peer groups are determined algorithmically based on structural similarity — not by sector classification alone.

How AssetNext Peer Scores Work

AssetNext scores reflect each company's structural position within its functional peer group — not a ranking against all stocks simultaneously. Peers are identified by similarity across eight financial dimensions, including revenue growth trajectory, margin structure, capital intensity, and earnings stability. A score of 75 means the company ranks in the top quartile within its own peer group, not the entire market.

Four dimension scores drive the overall peer score: Growth (revenue trajectory and expansion dynamics), Quality (margin structure and capital efficiency), Valuation (peer-relative pricing on standard multiples), and Stability (earnings consistency and financial predictability). Each dimension is scored 0–100 relative to the peer group, then combined into an overall peer score using equal weighting.

Because scores are peer-relative, the same company can have slightly different scores in different index universes. On comparison pages, both companies are shown within their shared peer universe wherever possible — so the scores are directly comparable. The peer basis is stated on each score card.

Scores are recalculated periodically as underlying financial data is updated. All analysis is descriptive and rule-based — AssetNext describes structural realities and never issues buy, sell or hold recommendations.