Ecolab Inc.

ECL · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Valuation
Market cap	$74,355	$66,350	$56,557	$41,460	$67,226	$62,002	$55,305	$42,226	$38,452	$33,591	$32,778	$31,366	$31,271	$21,031	$13,695	$11,768	$10,552	$8,626	$12,639	$11,395	$9,276	$9,049	$7,101	$6,389	$5,130	$5,516	$5,068	$4,673	$3,588	$2,428	$1,983	$1,310	$1,438	$1,135	$805	$499	$646	$712	$627	$614
Enterprise value	$83,172	$73,408	$64,399	$49,910	$76,051	$67,889	$62,048	$49,257	$45,633	$40,021	$39,221	$37,771	$37,901	$26,498	$19,562	$12,375	$11,454	$9,705	$13,505	$11,977	$9,793	$9,679	$7,690	$7,040	$5,834	$5,843	$5,301	$4,940	$3,835	$2,535	$2,119	$1,359	$1,533	$1,326	$1,127	$712	$793	$990	$894	$612
P/E (TTM) at period end	35.82×	31.41×	41.21×	37.98×	59.50×	–	35.48×	29.55×	25.56×	27.33×	32.71×	26.08×	32.31×	29.89×	29.61×	22.19×	25.29×	19.25×	29.58×	30.91×	29.03×	32.01×	25.60×	30.46×	27.26×	26.76×	28.83×	24.27×	26.78×	21.45×	19.99×	15.49×	18.77×	17.65×	–	9.30×	208.45×	16.15×	4.42×	14.05×
P/S (TTM) at period end	4.62×	4.22×	3.69×	2.92×	5.28×	5.26×	4.40×	3.45×	2.78×	2.55×	2.42×	2.20×	2.36×	1.78×	2.01×	1.93×	1.79×	1.41×	2.31×	2.33×	2.05×	2.16×	1.89×	1.88×	2.18×	2.44×	2.44×	2.47×	2.19×	1.63×	1.48×	1.08×	1.38×	1.13×	0.88×	0.36×	0.49×	0.59×	0.61×	0.76×
P/B at period end	7.61×	7.58×	7.03×	5.73×	9.31×	10.05×	6.37×	5.28×	5.07×	4.87×	4.74×	4.29×	4.26×	3.46×	2.42×	5.53×	5.27×	5.49×	6.53×	6.78×	5.62×	5.79×	5.48×	5.81×	5.83×	7.29×	6.65×	6.77×	6.50×	4.67×	4.34×	2.84×	3.84×	3.30×	2.70×	1.10×	1.25×	1.64×	1.59×	2.35×
EV / EBITDA (TTM)	24.39×	21.36×	24.68×	22.88×	34.52×	34.12×	25.70×	21.75×	20.30×	16.46×	18.49×	15.03×	18.27×	15.08×	17.02×	10.72×	11.28×	9.26×	14.05×	13.61×	12.25×	13.06×	10.80×	11.37×	12.12×	12.41×	12.49×	12.87×	12.01×	9.22×	8.87×	6.41×	8.46×	7.50×	6.82×	3.48×	4.72×	–	–	–
EV / Sales (TTM)	5.17×	4.66×	4.20×	3.52×	5.97×	5.76×	4.94×	4.03×	3.30×	3.04×	2.90×	2.64×	2.86×	2.24×	2.88×	2.03×	1.94×	1.58×	2.47×	2.45×	2.16×	2.31×	2.04×	2.07×	2.48×	2.58×	2.55×	2.62×	2.34×	1.70×	1.58×	1.13×	1.47×	1.32×	1.23×	0.51×	0.61×	0.82×	0.88×	0.75×
Returns
Return on equity	21.2%	24.1%	17.1%	15.1%	15.6%	(19.5%)	17.9%	17.9%	19.8%	17.8%	14.5%	16.4%	13.2%	11.6%	8.2%	24.9%	20.9%	28.5%	22.1%	21.9%	19.4%	18.1%	21.4%	19.1%	21.4%	27.2%	23.1%	27.9%	24.3%	21.8%	21.7%	18.3%	20.5%	18.7%	(81.7%)	11.9%	0.6%	10.2%	36.0%	16.7%
Return on invested capital	12.1%	14.7%	10.0%	8.2%	8.1%	9.8%	10.0%	9.2%	10.4%	10.6%	9.0%	10.3%	8.4%	7.7%	4.5%	20.9%	15.8%	18.5%	16.5%	17.5%	15.2%	14.3%	15.8%	13.6%	11.9%	18.3%	17.9%	16.5%	16.7%	18.2%	17.1%	17.8%	18.0%	15.4%	11.7%	10.5%	3.2%	8.6%	10.0%	17.5%
Dividend yield	1.0%	1.0%	1.1%	1.5%	0.8%	0.9%	1.0%	1.2%	1.2%	1.3%	1.2%	1.1%	0.7%	1.5%	1.2%	1.2%	1.3%	1.5%	0.9%	0.9%	1.0%	0.9%	1.1%	1.1%	1.3%	1.1%	1.1%	1.0%	1.2%	1.5%	1.7%	2.1%	1.7%	1.9%	2.7%	4.9%	2.8%	–	–	–
Financial health
Current ratio	1.08×	1.26×	1.30×	1.30×	1.32×	1.75×	1.33×	1.27×	1.32×	1.42×	0.93×	1.11×	1.35×	1.60×	1.70×	1.41×	1.45×	1.17×	1.13×	1.23×	1.27×	1.36×	1.35×	1.17×	1.12×	1.13×	1.23×	1.26×	1.26×	1.33×	1.15×	1.58×	1.52×	1.35×	1.20×	1.06×	1.56×	1.25×	1.05×	2.21×
Debt / equity	0.84×	0.86×	1.02×	1.19×	1.21×	1.08×	0.73×	0.88×	0.97×	0.97×	0.94×	0.90×	0.94×	1.08×	1.35×	0.40×	0.48×	0.72×	0.52×	0.63×	0.45×	0.45×	0.52×	0.64×	0.85×	0.49×	0.37×	0.43×	0.56×	0.34×	0.35×	0.32×	0.38×	0.66×	1.34×	0.53×	0.52×	0.68×	0.80×	0.30×
Effective tax rate	17.8%	17.1%	20.6%	17.5%	19.1%	15.2%	16.7%	20.2%	12.2%	24.4%	22.8%	28.0%	25.0%	30.7%	31.8%	29.0%	32.5%	31.1%	30.6%	35.0%	35.9%	36.4%	38.1%	39.8%	40.5%	38.3%	38.4%	39.7%	38.9%	38.5%	37.6%	37.3%	30.6%	29.8%	34.2%	42.5%	77.4%	43.5%	53.7%	39.6%
Share count
Diluted shares outstanding	285	287	286	287	289	290	292	293	294	297	301	306	306	299	242	238	240	249	252	257	260	260	263	262	260	264	269	268	268	268	265	251	255	247	216	188	180	220	223	224

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987	FY1986
Revenue and gross profit
Revenue	$16,842	$16,081	$15,741	$15,320	$14,188	$12,733	$11,790	$12,562	$12,222	$13,838	$13,153	$13,545	$14,280	$13,253	$11,839	$6,798	$6,090	$5,901	$6,138	$5,470	$4,896	$4,535	$4,185	$3,762	$3,404	$2,355	$2,264	$2,080	$1,888	$1,640	$1,490	$1,341	$1,208	$1,042	$1,005	$918	$1,390	$1,306	$1,212	$1,020	$813
Cost of revenue	($9,413)	($8,931)	($8,900)	($9,155)	($8,831)	($7,616)	($6,906)	($7,046)	($6,875)	($6,415)	($7,534)	($7,224)	($7,679)	($7,161)	($6,385)	($3,476)	($3,014)	($2,978)	($3,142)	($2,692)	($2,416)	($2,249)	($2,034)	($1,845)	($1,688)	($1,090)	($877)	($803)	($729)	($621)	($585)	($527)	($466)	($394)	($393)	($368)	($586)	($575)	($530)	($426)	($357)
Gross profit	$7,430	$7,150	$6,842	$6,165	$5,357	$5,117	$4,884	$5,516	$5,347	$7,424	$5,619	$6,322	$6,601	$6,092	$5,453	$3,323	$3,076	$2,923	$2,996	$2,778	$2,480	$2,286	$2,151	$1,917	$1,716	$1,265	$1,387	$1,277	$1,159	$1,019	$905	$814	$741	$648	$612	$550	$804	$731	$682	$594	$456
Operating expenses
Research and development	–	($202)	($207)	($192)	($190)	($186)	($185)	($190)	($193)	($177)	($189)	($191)	($197)	($188)	($183)	($96)	($88)	($86)	($86)	($83)	($73)	($68)	($61)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($4,384)	($4,258)	($4,228)	($4,062)	($3,654)	($3,416)	($3,309)	($3,551)	($3,506)	($3,364)	($3,708)	($4,346)	($4,578)	($4,360)	($4,018)	($2,438)	($2,262)	($2,174)	($2,257)	($2,089)	($1,795)	($1,675)	($1,596)	($1,434)	($1,283)	($946)	($916)	($852)	($775)	($700)	($630)	($575)	($530)	($467)	($435)	($385)	($599)	($563)	($503)	($395)	($345)
Total operating expenses	($4,578)	($4,413)	($4,039)	($4,173)	($3,794)	($3,519)	($3,489)	($3,671)	($3,618)	($5,676)	($3,749)	($4,760)	($4,646)	($4,532)	($4,164)	($2,569)	($2,269)	($2,241)	($2,283)	($2,109)	($1,868)	($1,744)	($1,657)	($1,434)	($1,320)	($947)	($1,064)	($987)	($897)	($801)	($719)	($651)	($596)	($526)	($494)	($440)	($682)	($638)	($573)	($451)	($381)
Total costs and expenses	($13,990)	($13,344)	($12,939)	($13,328)	($12,625)	($11,134)	($10,394)	($10,717)	($10,494)	($12,091)	($11,283)	($11,984)	($12,326)	($11,693)	($10,549)	($6,045)	($5,283)	($5,219)	($5,425)	($4,801)	($4,284)	($3,992)	($3,691)	($3,279)	($3,008)	($2,037)	($1,942)	($1,790)	($1,626)	($1,422)	($1,305)	($1,178)	($1,063)	($920)	($887)	($808)	($1,269)	($1,213)	($1,103)	($877)	($738)
Operating income	$2,852	$2,738	$2,802	$1,992	$1,562	$1,599	$1,396	$1,845	$1,728	$1,747	$1,870	$1,561	$1,955	$1,561	$1,289	$754	$807	$681	$713	$669	$612	$542	$494	$483	$396	$318	$322	$290	$262	$218	$185	$163	$145	$122	$118	$110	$121	$93	$109	$143	$75
Earnings
EBITDA	$3,561	$3,410	$3,437	$2,609	$2,181	$2,203	$1,990	$2,414	$2,264	$2,247	$2,431	$2,121	$2,513	$2,075	$1,758	$1,150	$1,155	$1,016	$1,048	$961	$880	$799	$741	$712	$619	$481	$471	$424	$384	$319	$275	$239	$212	$181	$177	$165	$204	$168	–	–	–
Interest income	$64	$65	$58	$52	$8	$12	$15	$24	$14	$18	$21	$10	$11	$10	$9	$8	$6	$6	$9	$8	$7	$6	$3	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($330)	($306)	($340)	($349)	($252)	($231)	($305)	($214)	($236)	($272)	($285)	($254)	($268)	($273)	($286)	($82)	($66)	($68)	($71)	($57)	($51)	($50)	($48)	($35)	($83)	($13)	–	–	–	–	–	–	($7)	($4)	($17)	($320)	($28)	($126)	($27)	–	–
Pre-tax income	$2,630	$2,548	$2,571	$1,756	$1,343	$1,414	$1,161	$1,732	$1,587	$1,560	$1,649	$1,318	$1,698	$1,298	$1,013	$680	$748	$620	$651	$618	$567	$498	$445	$448	$352	$290	$338	$286	$256	$219	$184	$159	$135	$109	$92	$85	$93	$14	$78	$90	$72
Income tax expense	($496)	($455)	($439)	($362)	($234)	($270)	($177)	($289)	($321)	($190)	($403)	($300)	($476)	($325)	($311)	($216)	($217)	($201)	($203)	($189)	($199)	($179)	($162)	($171)	($140)	($117)	($129)	($110)	($102)	($85)	($71)	($60)	($50)	($33)	($27)	($29)	($40)	($11)	($34)	($48)	($29)
Net income	$2,116	$2,076	$2,112	$1,372	$1,092	$1,130	($1,205)	$1,576	$1,440	$1,519	$1,229	$1,002	$1,203	$968	$704	$462	$530	$417	$448	$427	$369	$319	$283	$277	$210	$188	$206	$176	$192	$134	$113	$99	$85	$77	$64	($244)	$54	$3	$44	$142	$44
Per share
Diluted EPS (GAAP)	$7.45	$7.28	$7.37	$4.79	$3.81	$3.91	($4.15)	$5.33	$4.88	$5.12	$4.14	$3.32	$3.93	$3.16	$2.35	$1.91	$2.23	$1.74	$1.80	$1.70	$1.43	$1.23	$1.09	$1.06	$0.75	$0.72	$0.78	$0.65	$0.72	$0.50	$0.42	$0.38	$0.63	$0.30	$0.26	($1.14)	$0.25	$0.015	$0.20	$0.64	$0.20
Basic EPS (GAAP)	$7.50	$7.33	$7.43	$4.82	$3.83	$3.95	($4.20)	$5.41	$4.95	$5.20	$4.20	$3.38	$4.01	$3.23	$2.41	$1.95	$2.27	$1.76	$1.83	$1.73	$1.46	$1.25	$1.10	$1.07	$0.76	$0.74	$0.81	$0.68	$0.75	$0.52	$0.44	$0.38	$0.63	$0.30	$0.26	($1.14)	$0.25	$0.015	$0.21	$0.67	$0.21
Basic shares outstanding	282	283	284	285	285	286	287	288	289	290	292	296	300	300	292	237	233	237	245	247	252	256	258	259	258	255	256	259	258	259	258	264	251	255	247	216	188	180	215	213	213
Margins
Gross margin	44.1%	44.5%	43.5%	40.2%	37.8%	40.2%	41.4%	43.9%	43.7%	53.6%	42.7%	46.7%	46.2%	46.0%	46.1%	48.9%	50.5%	49.5%	48.8%	50.8%	50.7%	50.4%	51.4%	50.9%	50.4%	53.7%	61.2%	61.4%	61.4%	62.1%	60.7%	60.7%	61.4%	62.2%	60.9%	60.0%	57.8%	56.0%	56.3%	58.2%	56.1%
Operating margin	16.9%	17.0%	17.8%	13.0%	11.0%	12.6%	11.8%	14.7%	14.1%	12.6%	14.2%	11.5%	13.7%	11.8%	10.9%	11.1%	13.2%	11.5%	11.6%	12.2%	12.5%	12.0%	11.8%	12.8%	11.6%	13.5%	14.2%	13.9%	13.9%	13.3%	12.4%	12.1%	12.0%	11.7%	11.7%	12.0%	8.7%	7.1%	9.0%	14.0%	9.2%
Net margin	12.6%	12.9%	13.4%	9.0%	7.7%	8.9%	(10.2%)	12.5%	11.8%	11.0%	9.3%	7.4%	8.4%	7.3%	5.9%	6.8%	8.7%	7.1%	7.3%	7.8%	7.5%	7.0%	6.8%	7.4%	6.2%	8.0%	9.1%	8.5%	10.2%	8.2%	7.6%	7.4%	7.0%	7.4%	6.4%	(26.5%)	3.9%	0.2%	3.6%	13.9%	5.4%

Analyst consensus

Buy37 analysts

Bearish · 1 · Hold · 7 · Bullish · 29

Earnings history

	EPS	Estimate
Q3 2024	$1.83	$1.82	Beat
Q4 2024	$1.81	$1.81	Match
Q1 2025	$1.50	$1.50	Match
Q2 2025	$1.89	$1.90	Miss
Q3 2025	$2.07	$2.07	Match
Q4 2025	$2.08	$2.07	Beat
Q1 2026	$1.70	$1.70	Match
Q2 2026	$2.09	$2.08	Beat

Peers

Company overview

IPO dateFeb 21, 1973

CEOChristophe Beck

Employees48,000

SectorBasic Materials

IndustryChemicals - Specialty

CountryUS

ExchangeNew York Stock Exchange

Websitewww.ecolab.com

Ecolab Inc. provides water, hygiene, and infection prevention solutions and services in the United States and internationally. The company operates through four segments: Global Water, Global Institutional & Specialty, Global Pest Elimination, and Global Life Sciences. The Global Water segment offers water treatment and process applications, and cleaning and sanitizing solutions to manufacturing, food and beverage processing, transportation, chemical, primary metals and mining, power generation, global refining, petrochemical, pulp and paper industries. The Global Institutional & Specialty segment provides cleaning and sanitizing products to the foodservice, healthcare, hospitality, lodging, government, education and retail industries. The Global Pest Elimination segment provides pest elimination services to detect, prevent, and eliminate pests comprising rodents and insects in full-service and quick-service restaurants, food and beverage processors, hotels, grocery operations, and other commercial segments, including education, life sciences, and healthcare. The Global Life Sciences segment provides cleaning and contamination control solutions to pharmaceutical and personal care manufacturers. It offers its products under the Ecolab, Kay, Purolite, and Bioquell brand names. The company sells its products through field sales and corporate account personnel, distributors, and dealers. Ecolab Inc. was founded in 1923 and is headquartered in Saint Paul, Minnesota.

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