Contractor signal profile
AIR PRODUCTS AND CHEMICALS, INC
Acquisition-signal score 50 / 100 — Elevated signal. Pattern-based, from public award history.
Lifetime obligations
$669.5M
Velocity (YoY)
192%
Agencies served
6
Obligation trajectory
Why this score
+30
award_velocity
Award obligations are ramping fast — most-recent FY $10.8M vs prior $3.7M (192% YoY, 33% multi-yr CAGR). Rapid, proven backlog growth is the classic profile PE/strategic acquirers target.
+12
customer_diversification
Revenue spread across 6 federal agencies while growing — diversified, de-risked backlog is the #1 valuation-multiple lever in govcon M&A.
+8
target_size_band
Lifetime obligations $669.5M — squarely in the small/mid tuck-in size band acquirers shop in.
Obligation trajectory (by federal FY)
| FY | Obligated | Awards |
|---|---|---|
| FY2012 | $203K | 1 |
| FY2014 | $10.8M | 3 |
| FY2015 | $43.2M | 2 |
| FY2019 | $16.8M | 6 |
| FY2020 | $134.8M | 8 |
| FY2021 | $3.3M | 5 |
| FY2022 | $2.1M | 9 |
| FY2023 | $431.1M | 31 |
| FY2024 | $12.7M | 14 |
| FY2025 | $3.7M | 15 |
| FY2026 | $10.8M | 6 |
Recent awards
| Start | Amount | Agency | NAICS |
|---|---|---|---|
| 2026-04-01 | $154K | Department of Veterans Affairs | 325120 |
| 2026-02-10 | $153K | Department of Defense | 325120 |
| 2025-12-31 | $295K | Department of Defense | 325120 |
| 2025-12-29 | $1.9M | National Aeronautics and Space Administration | 325120 |
| 2025-12-12 | $3.8M | National Aeronautics and Space Administration | 325120 |
| 2025-12-04 | $4.5M | National Aeronautics and Space Administration | 325120 |
| 2025-09-29 | $295K | Department of Defense | 325120 |
| 2025-09-15 | $179K | National Aeronautics and Space Administration | 325120 |
Largest single award: $352.6M from National Aeronautics and Space Administration (2022-12-01).
How to read these scores. Cassandra computes leading-indicator signals strictly from public federal award history (USAspending.gov) and public SEC filings (EDGAR). Scores are pattern-based and probabilistic — they describe profiles that historically correlate with acquisitions and major corporate events. They are not predictions of certainty, not insider or material non-public information (MNPI), and not investment advice. Do your own diligence.