Ecolab Inc (ECL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$1.7	$1.7	0.0%	—	—	—
Q2 26	$2.07	$2.08	+0.5%	—	—	—
Q1 26	$2.07	$2.07	0.0%	—	—	—
Q4 25	$1.9	$1.89	-0.5%	—	—	—
Q3 25	$1.5	$1.5	0.0%	—	—	—
Q2 25	$1.8	$1.81	+0.6%	—	—	—
Q1 25	$1.82	$1.83	+0.5%	—	—	—
Q4 24	$1.67	$1.68	+0.6%	—	—	—
Q3 24	$1.33	$1.34	+0.8%	—	—	—
Q2 24	$1.54	$1.55	+0.6%	—	—	—
Q1 24	$1.52	$1.54	+1.3%	—	—	—
Q4 23	$1.21	$1.24	+2.5%	—	—	—
Q3 23	$0.86	$0.88	+2.3%	—	—	—
Q2 23	$1.25	$1.27	+1.6%	—	—	—
Q1 23	$1.3	$1.3	0.0%	—	—	—
Q4 22	$1.09	$1.1	+0.9%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$7.33	—	—	$16.1B	—
FY24	—	$7.43	—	—	$15.7B	—
FY23	—	$4.82	—	—	$15.3B	—
FY22	—	$3.83	—	—	$14.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13.2B	$13.8B	$12.2B	$12.6B	$11.8B	$12.7B	$14.2B	$15.3B	$15.7B	$16.1B
YoY change	-2.9%	+5.2%	-11.7%	+2.78%	-6.14%	+8%	+11.4%	+7.98%	+2.75%	+2.16%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13.2B	13.8B	12.2B	12.6B	11.8B	12.7B	14.2B	15.3B	15.7B	16.1B
Cost of revenue	7.5B	8.1B	6.9B	7B	6.9B	7.6B	8.8B	9.2B	8.9B	8.9B
Gross profit	5.6B	5.8B	5.3B	5.5B	4.9B	5.1B	5.4B	6.2B	6.8B	7.2B
Gross margin	42.7%	41.7%	43.7%	43.9%	41.4%	40.2%	37.8%	40.2%	43.5%	44.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.7B	3.8B	3.5B	3.6B	3.3B	3.4B	3.7B	4.1B	4.2B	4.3B
Operating expenses	3.7B	3.8B	3.5B	3.6B	3.3B	3.4B	3.7B	4.1B	4.2B	4.3B
Operating income	1.9B	1.9B	1.8B	2B	1.6B	1.7B	1.7B	2.1B	2.6B	2.9B
Operating margin	14.5%	14.1%	15.1%	15.6%	13.4%	13.4%	12%	13.7%	16.6%	18%
Non-operating income, net	4.3M	71M	-32.8M	-43.2M	-123.7M	-68.7M	-116M	-51.5M	240.2M	-103.5M
Pretax income	1.6B	1.8B	1.6B	1.7B	1.2B	1.4B	1.3B	1.8B	2.6B	2.5B
Income tax	402.9M	243.8M	321.2M	288.6M	176.6M	270.2M	234.5M	362.5M	439.3M	454.6M
Net income	1.2B	1.5B	1.4B	1.6B	-1.2B	1.1B	1.1B	1.4B	2.1B	2.1B
Net margin	9.48%	11%	11.8%	12.5%	-10.1%	8.98%	7.82%	9.09%	13.5%	13%
EBITDA	2.8B	2.9B	2.7B	2.8B	2.5B	2.6B	2.7B	3.1B	3.7B	4B
EPS	4.2	5.2	4.95	5.41	-4.2	3.95	3.83	4.82	7.43	7.33
Diluted EPS	4.14	5.12	4.88	5.33	-4.24	3.91	3.81	4.79	7.37	7.28

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4B	3.9B	3.8B	4B	4B	4B	3.7B	4B	4.2B	4.2B	4.1B	4.4B
Cost of revenue	2.3B	2.3B	2.1B	2.2B	2.3B	2.3B	2.1B	2.2B	2.3B	2.3B	2.3B	2.5B
Gross profit	1.6B	1.7B	1.6B	1.7B	1.7B	1.7B	1.6B	1.8B	1.9B	1.8B	1.8B	1.9B
Gross margin	41.1%	42%	43.3%	43.8%	43.4%	43.3%	44.2%	44.8%	44.8%	44%	43.6%	44.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1B	1B	1.1B	1.1B	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Operating expenses	1B	1B	1.1B	1.1B	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B
Operating income	602.7M	619.2M	546.1M	669.1M	712.2M	686.1M	584.8M	734.7M	786.4M	786.6M	668.4M	804.3M
Operating margin	15.2%	15.7%	14.6%	16.8%	17.8%	17.1%	15.8%	18.3%	18.9%	18.7%	16.4%	18.2%
Non-operating income, net	-22.2M	-11.3M	-15.6M	400K	345.5M	-90.1M	-16.5M	-11.6M	-13.4M	-62M	-37.6M	-44.2M
Pretax income	506.2M	537.5M	458.9M	590.7M	987.3M	534.3M	510M	659.9M	717.7M	660.3M	558.1M	693.6M
Income tax	96.8M	126.7M	42.3M	95.7M	246.5M	54.8M	103.5M	131.4M	128M	91.7M	121.5M	154.9M
Net income	409.4M	410.8M	416.6M	495M	740.8M	479.5M	406.5M	528.5M	589.7M	568.6M	436.6M	538.7M
Net margin	10.3%	10.4%	11.1%	12.4%	18.5%	12%	11%	13.1%	14.2%	13.6%	10.7%	12.2%
EBITDA	863.6M	892M	816.4M	918.1M	971.2M	952.3M	848.2M	1B	1.1B	1.1B	944.9M	1.1B
EPS	1.42	1.42	1.44	1.72	2.6	1.67	1.42	1.85	2.06	2	1.53	1.91
Diluted EPS	1.41	1.41	1.43	1.71	2.58	1.66	1.41	1.84	2.05	1.98	1.52	1.9

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	34.3B	38.9B	42.5B	55.6B	62.1B	67.2B	41.5B	56.5B	66.6B	74.4B	78.6B
Enterprise value	40.6B	46B	49.5B	62.3B	67.9B	76B	49.9B	64.3B	73.6B	82.7B	87.2B
Shares outstanding	292.5M	289.6M	288.6M	288.1M	287M	286.3M	285.2M	285M	284.3M	283.3M	283.3M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	27.5	25.6	29.4	35.3	—	58.7	37.4	40.6	31.2	35.5	37.5
P/S	2.61	2.81	3.48	4.43	5.27	5.27	2.93	3.69	4.23	4.62	4.66
P/B	4.92	5.08	5.28	6.37	10	9.26	5.72	7	7.58	7.59	7.8
EV/EBITDA	14.4	15.7	18.6	21.9	27.6	29.3	18.7	20.5	20.1	20.8	21.1
EV/Sales	3.09	3.32	4.05	4.96	5.76	5.97	3.52	4.2	4.68	5.14	5.17
Earnings yield	3.64%	3.91%	3.4%	2.83%	—	1.7%	2.67%	2.46%	3.2%	2.81%	2.67%
FCF yield	3.45%	3.15%	3.52%	3.04%	2.21%	2.11%	2.59%	2.9%	2.73%	2.56%	1.88%
PEG	—	—	—	—	—	—	—	—	—	—	11.6

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	42.7%	41.7%	43.7%	43.9%	41.4%	40.2%	37.8%	40.2%	43.5%	44.5%	44.1%
Operating margin	14.5%	14.1%	15.1%	15.6%	13.4%	13.4%	12%	13.7%	16.6%	18%	18.5%
Net margin	9.48%	11%	11.8%	12.5%	-10.1%	8.98%	7.82%	9.09%	13.5%	13%	12.6%
ROE	17.9%	19.8%	17.9%	18.1%	-19.2%	15.8%	15.3%	17.3%	24.3%	21.4%	22%
ROA	6.8%	7.61%	7.2%	7.55%	-6.55%	5.39%	5.17%	6.38%	9.52%	8.48%	7.23%
ROIC	10.8%	11.4%	9.8%	10.6%	11.1%	8.57%	8.96%	10.5%	13.7%	13.1%	13.1%
Return on tangible assets	-60.2%	-63.1%	-86.2%	40.7%	-750.8%	-34%	-57.7%	-97%	-4.8K%	-184.5%	50.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.42	1.32	1.27	1.33	1.75	1.32	1.3	1.3	1.26	1.08	1.84
Quick ratio	0.98	0.91	0.85	1.03	1.31	0.9	0.88	0.95	0.95	0.81	1.57
Debt / equity	0.96	0.96	0.87	0.78	1.15	1.26	1.24	1.08	0.94	0.92	1.38
Debt / assets	0.36	0.37	0.35	0.33	0.39	0.43	0.42	0.4	0.37	0.36	0.47
Net debt / EBITDA	2.25	2.43	2.6	2.36	2.38	3.4	3.15	2.49	1.92	2.1	2.1
Interest coverage	6.78	7.42	7.74	9.08	4.81	7.13	6.33	6.03	8.56	9.32	9.14
Effective tax rate	24.4%	13.8%	20.2%	16.7%	15.2%	19.1%	17.5%	20.6%	17.1%	17.8%	18.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	45	47.8	42.3	43.6	41.1	44.5	49.7	53.8	55.4	56.8	59.7
EPS (basic)	4.2	5.2	4.95	5.41	-4.2	3.95	3.83	4.82	7.43	7.33	7.33
EPS (diluted)	4.14	5.12	4.88	5.33	-4.24	3.91	3.81	4.79	7.37	7.28	7.46
Book value per share	23.8	26.4	27.9	30.3	21.6	25.3	25.5	28.3	30.9	34.6	35.9
FCF per share	4.04	4.22	5.19	5.86	4.78	4.96	3.77	5.74	6.4	6.72	6.64
Cash per share	1.12	0.73	0.4	0.41	4.39	1.26	2.1	3.23	4.42	2.28	18.3
Capex per share	0.1	0.04	0.1	0.03	0.02	0.04	0.01	0.03	0.04	3.7	4.19

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.23%	0.08%	0.23%	0.06%	0.04%	0.1%	0.02%	0.06%	0.07%	6.52%	7.02%
Capex / operating cash flow	1.58%	0.49%	1.51%	0.37%	0.31%	0.6%	0.13%	0.41%	0.36%	35.5%	38.7%
Payout ratio	34.3%	29.5%	34.2%	35.1%	-47.2%	49.5%	54.4%	44.3%	31.2%	36%	38.1%
Dividend yield	1.25%	1.15%	1.16%	0.99%	0.9%	0.84%	1.45%	1.09%	1%	1.01%	1.04%

Yield

1.04%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.73

ex-dividend Sep 15, 2026

Payout ratio

38%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.73
Jun 16, 2026	$0.73
Mar 17, 2026	$0.73

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4B	$3.9B	$3.8B	$4B	$4B	$4B	$3.7B	$4B	$4.2B	$4.2B	$4.1B	$4.4B
YoY change	+7.87%	+7.28%	+5.05%	+3.47%	+1.02%	+1.7%	-1.52%	+0.99%	+4.16%	+4.76%	+10%	+9.69%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	327.4M	211.4M	114.7M	118.8M	1.3B	359.9M	598.6M	919.5M	1.3B	646.2M
Receivables	2.3B	2.6B	2.7B	2.4B	2.3B	2.5B	2.7B	2.8B	2.9B	3.2B
Inventory	1.3B	1.4B	1.5B	1.1B	1.3B	1.5B	1.8B	1.5B	1.5B	1.5B
Total current assets	4.3B	4.6B	4.7B	4.8B	5.1B	4.7B	5.5B	5.6B	6B	6B
Property, plant & equipment	2.2B	2.5B	2.6B	2.7B	2.5B	2.6B	2.6B	2.9B	3.3B	3.8B
Goodwill & intangibles	20.4B	22.4B	21.8B	17B	18B	24.6B	23.4B	23.3B	22.4B	25.8B
Total assets	18.3B	20B	20.1B	20.9B	18.1B	21.2B	21.5B	21.8B	22.4B	24.7B
Accounts payable	983.2M	1.2B	1.3B	1.1B	1.2B	1.4B	1.7B	1.6B	1.8B	2.1B
Short-term debt	541.3M	564.4M	743.6M	502.7M	142.9M	526.1M	613.4M	756.5M	758M	1B
Total current liabilities	3B	3.5B	3.7B	3.6B	2.9B	3.6B	4.2B	4.3B	4.8B	5.5B
Long-term debt	6.1B	6.8B	6.3B	6.3B	7B	8.6B	8.4B	8B	7.5B	8B
Total liabilities	11.4B	12.3B	12B	12.1B	11.9B	14B	14.2B	13.8B	13.6B	14.9B
Shareholders' equity	7B	7.7B	8.1B	8.7B	6.2B	7.3B	7.3B	8.1B	8.8B	9.8B
Total debt	6.7B	7.3B	7B	6.8B	7.1B	9.2B	9B	8.7B	8.3B	9B
Net debt	6.4B	7.1B	6.9B	6.7B	5.9B	8.8B	8.4B	7.8B	7B	8.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	2B	646.2M	519.8M	5.1B
Receivables	—	—	—	—	—	—	—	—	3.1B	3.2B	3.3B	3.5B
Inventory	—	—	—	—	—	—	—	—	1.5B	1.5B	1.6B	1.6B
Total current assets	—	—	—	—	—	—	—	—	7.1B	6B	6B	11B
Property, plant & equipment	—	—	—	—	—	—	—	—	3.6B	3.8B	3.9B	3.9B
Goodwill & intangibles	—	—	—	—	—	—	—	—	22.5B	25.8B	25.9B	25.7B
Total assets	—	—	—	—	—	—	—	—	23.9B	24.7B	25B	29.9B
Accounts payable	—	—	—	—	—	—	—	—	1.9B	2.1B	2.1B	2.2B
Short-term debt	—	—	—	—	—	—	—	—	176.5M	1B	1.7B	1.4B
Total current liabilities	—	—	—	—	—	—	—	—	4.2B	5.5B	6.1B	6B
Long-term debt	—	—	—	—	—	—	—	—	8.7B	8B	7.5B	12.5B
Total liabilities	—	—	—	—	—	—	—	—	14.1B	14.9B	15B	19.8B
Shareholders' equity	—	—	—	—	—	—	—	—	9.8B	9.8B	10B	10.1B
Total debt	—	—	—	—	—	—	—	—	8.8B	9B	9.3B	13.9B
Net debt	—	—	—	—	—	—	—	—	6.9B	8.4B	8.7B	8.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.2B	1.5B	1.4B	1.6B	-1.2B	1.1B	1.1B	1.4B	2.1B	2.1B
Depreciation & amortization	850.7M	893.3M	730.4M	775.3M	812.7M	843.1M	938.7M	923.6M	935.4M	976.4M
Stock-based compensation	85.7M	90.5M	88M	84M	82.1M	89.5M	87.8M	95.1M	134.8M	136.6M
Change in working capital	94.6M	140.9M	-353.1M	-123M	-209.2M	600K	-276.7M	162.7M	176.1M	-206.2M
Operating cash flow	1.9B	2.2B	1.9B	2B	1.7B	2B	1.7B	2.4B	3.2B	3B
Capital expenditure	30.5M	10.7M	28M	7.5M	5.3M	12.2M	2.2M	9.9M	11.3M	-1B
Investing cash flow	-72.7M	-858.4M	-169.1M	-398.3M	-368.7M	-3.9B	-4M	-215.7M	560.7M	-2.8B
Dividends paid	-427.5M	-448.7M	-494.8M	-552.9M	-560.8M	-566.4M	-602.8M	-617.3M	-664.3M	-753.6M
Share repurchases	-739.6M	-600.3M	-562.4M	-353.7M	-146.2M	-106.6M	-518.2M	-13.7M	-986.5M	-783.8M
Financing cash flow	-945M	-606.5M	-1.3B	-1.5B	-581.7M	1.5B	-866.4M	-1.2B	-2.3B	-1.1B
Net change in cash	911.1M	723.4M	398.1M	86.9M	749.4M	-457.5M	872.5M	1B	1.5B	-888.4M
Free cash flow	1.2B	1.2B	1.5B	1.7B	1.4B	1.4B	1.1B	1.6B	1.8B	1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	409.4M	410.8M	416.6M	495M	740.8M	479.5M	406.5M	528.5M	589.7M	568.6M	436.6M	538.7M
Depreciation & amortization	229.4M	230.5M	234.8M	235M	230.1M	235.5M	236.1M	241.7M	242.5M	256.1M	263.1M	268.9M
Stock-based compensation	14.7M	21.7M	47M	35.9M	26.6M	25.3M	42.2M	33.7M	33.6M	27.1M	40.3M	34.8M
Change in working capital	188.1M	223.6M	35M	-82M	191M	32.1M	-300.7M	-47.3M	-39.2M	181M	-318.6M	-134.7M
Operating cash flow	786M	855.4M	645.4M	607.1M	1.2B	762.9M	364.9M	698.3M	791.3M	1.1B	445.9M	729.5M
Capital expenditure	900K	400K	700K	2.8M	-200K	8M	21.6M	20.8M	-261.6M	-332.1M	-348.5M	-240.1M
Investing cash flow	-12.1M	-85.8M	500K	-47.5M	875.5M	-267.8M	13.9M	-7.7M	-284.6M	-2B	-355.7M	-275.8M
Dividends paid	-154M	-154.7M	-175.2M	-165.5M	-162.2M	-161.4M	-192M	-188M	-184.4M	-189.2M	-215.9M	-208.2M
Share repurchases	-800K	-2M	-196.4M	-323M	-464.3M	-2.8M	-153.7M	-45.5M	-175.4M	-409.2M	-344.4M	-324.9M
Financing cash flow	-157.6M	-121.1M	-994.8M	-495.3M	-626.7M	-166.7M	-340.1M	256.8M	-520.4M	-477.8M	-309.3M	4.1B
Net change in cash	616.3M	648.5M	-348.9M	64.3M	1.4B	328.4M	38.7M	947.4M	-13.7M	-1.4B	-219.1M	4.6B
Free cash flow	621.2M	589.9M	447.9M	414.2M	550.3M	407M	131.5M	485.1M	529.7M	758M	97.4M	489.4M

Date	Ratio
Jun 9, 2003	2:1
Jan 16, 1998	2:1
Jan 19, 1994	2:1
Jul 16, 1986	2:1

Ecolab Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history