A Business at a Glance
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ECOLAB INC.
ECL
$76.6B
Mkt Cap
$268.75
+2.13%
ECOLAB INC. (ECL) has a current P/E ratio of 36.9, compared to its historical median P/E of 33.7. The stock is currently considered Fair based on its historical valuation range.
ECOLAB INC. (ECL) has a 5-year average return on invested capital (ROIC) of 11.5%. This indicates solid capital allocation.
ECOLAB INC. (ECL) has a market capitalization of $75.6B. It is classified as a large-cap stock.
Yes, ECOLAB INC. (ECL) pays a dividend with a trailing twelve-month yield of 1.03%. The company also returns capital through share buybacks, with a buyback yield of 1.29%.
Based on historical P/E analysis, ECOLAB INC. (ECL) appears fair. The current P/E of 36.9 is 9% above its historical median of 33.7. The estimated fair value CAGR (P/E method) is 11.1%.
ECOLAB INC. (ECL) operates in the Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics industry, within the Consumer Defensive sector.
ECOLAB INC. (ECL) reported annual revenue of $16.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
Ecolab operates a diversified portfolio of water, hygiene, and pest elimination solutions across institutional, specialty, and industrial markets globally. The company earns revenue through a combination of product sales and service-led offerings, with a business model anchored in recurring customer relationships and value-based pricing; key segments include Institutional & Specialty (serving food service, hospitality, and healthcare), Global Water (serving industrial and municipal customers), Global High-Tech (serving semiconductor fabs and data centers), Life Sciences (serving biopharma and bioprocessing), and Pest Elimination (serving commercial and industrial customers). Ecolab's competitive moat derives from its digital-connected technology platforms—including Pest Intelligence for pest management and 3D Trezor for direct-to-chip liquid cooling—combined with its global service infrastructure and deep customer relationships; the company pursues organic growth through pricing, volume gains, and share capture, supplemented by strategic acquisitions such as Ovivo (ultrapure water and microelectronics) and the pending CoolIT acquisition (AI data center cooling). The company operates in more than 170 countries and serves customers across food and beverage, hospitality, healthcare, industrial manufacturing, semiconductor fabrication, and pharmaceutical sectors, with particular momentum in high-growth, high-margin businesses including Life Sciences and Global High-Tech that collectively represent approximately 20% of the portfolio.
【Margin expansion accelerating】 Management expects operating income margin expansion to continue through 2027, with Pest Elimination targeting a 20% operating income margin by 2027 and Life Sciences positioned to reach a 30% operating income margin over the next few years. Organic sales growth is anticipated to accelerate in the second half of 2026 and beyond, supported by strengthening volume gains and continued value pricing of 2%-3%, with the company targeting 6%-7% organic sales growth in the second half of the current year and 3%-4% organic growth for full-year 2026. The company expects commodity cost inflation to remain elevated through the end of the year but anticipates full offset through surcharge pricing implementation and accelerating pricing actions, with gross margin stabilization expected in the second half. Growth engines including Global High-Tech, Life Sciences, Pest Intelligence, and Ecolab Digital are expected to collectively grow double digits and lift overall company sales growth, while the One Ecolab productivity program—with savings targets increased to $325 million by 2027—will drive SG&A leverage of 25-50 basis points annually through 2030, supporting the company's path to sustained 12%-15% earnings per share growth.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 16.5B | 16.1B | 15.7B | 15.3B | 14.2B | 12.7B |
| Net Income | 2.1B | 2.1B | 2.1B | 1.4B | 1.1B | 1.1B |
| EPS | $7.45 | $7.28 | $7.37 | $4.79 | $3.81 | $3.91 |
| Free Cash Flow | 1.9B | 1.9B | 1.8B | 1.6B | 1.1B | 1.4B |
| ROIC | 12.8% | 13.8% | 15.2% | 10.5% | 8.5% | 9.4% |
| Gross Margin | - | 44.5% | 43.5% | 40.2% | 37.8% | 40.2% |
| Debt/Equity | 0.84 | 0.86 | 0.88 | 1.03 | 1.14 | 1.28 |
| Dividends/Share | $2.76 | $2.68 | $2.36 | $2.16 | $2.06 | $1.95 |
| Operating Income | 2.8B | 2.7B | 2.8B | 2.0B | 1.6B | 1.6B |
| Operating Margin | 17.0% | 17.0% | 17.8% | 13.0% | 11.0% | 12.6% |
| ROE | 21.0% | 22.4% | 25.1% | 18.0% | 15.1% | 16.9% |
| Shares Outstanding | 281M | 285M | 287M | 286M | 287M | 289M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 14.3B | 13.5B | 13.2B | 13.8B | 12.2B | 12.6B | 11.8B | 12.7B | 14.2B | 15.3B | 15.7B | 16.1B | 16.5B |
| Gross Margin | 46.2% | 46.7% | 42.7% | 41.7% | 43.7% | 43.9% | 41.4% | 40.2% | 37.8% | 40.2% | 43.5% | 44.5% | N/A |
| R&D | 197M | 191M | 189M | 201M | 193M | 190M | 185M | 186M | 190M | 192M | 207M | 202M | 202M |
| SG&A | 4.6B | 4.3B | 3.7B | 3.8B | 3.5B | 3.6B | 3.3B | 3.4B | 3.7B | 4.1B | 4.2B | 4.3B | 4.3B |
| EBIT | 2.0B | 1.6B | 1.9B | 2.0B | 1.7B | 1.8B | 1.4B | 1.6B | 1.6B | 2.0B | 2.8B | 2.7B | 2.8B |
| Op. Margin | 13.7% | 11.5% | 14.2% | 14.1% | 14.1% | 14.7% | 11.8% | 12.6% | 11.0% | 13.0% | 17.8% | 17.0% | 17.0% |
| Net Income | 1.2B | 1.0B | 1.2B | 1.5B | 1.4B | 1.6B | -1.2B | 1.1B | 1.1B | 1.4B | 2.1B | 2.1B | 2.1B |
| Net Margin | 8.4% | 7.4% | 9.3% | 10.9% | 11.7% | 12.4% | -10.2% | 8.9% | 7.7% | 9.0% | 13.4% | 12.9% | 12.8% |
| Non-Recurring | 5.1M | 25M | 61M | 56M | 84M | 113M | 42M | 5.3M | 9.9M | 33M | 405M | 18M | 500K |
| Returns on Capital | |||||||||||||
| ROIC | 8.8% | 7.3% | 9.0% | 10.2% | 7.0% | 10.4% | 9.0% | 9.4% | 8.5% | 10.5% | 15.2% | 13.8% | 12.8% |
| ROE | 16.4% | 14.1% | 17.8% | 20.8% | 18.3% | 18.7% | -16.2% | 16.9% | 15.1% | 18.0% | 25.1% | 22.4% | 21.0% |
| ROA | 6.2% | 5.3% | 6.6% | 7.9% | 7.1% | 7.6% | -6.2% | 5.7% | 5.1% | 6.3% | 9.6% | 8.8% | 8.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.8B | 2.0B | 1.9B | 2.1B | 2.3B | 2.4B | 1.9B | 2.1B | 1.8B | 2.4B | 2.8B | 3.0B | 3.0B |
| Free Cash Flow | 1.1B | 1.2B | 1.2B | 1.2B | 1.5B | 1.7B | 1.4B | 1.4B | 1.1B | 1.6B | 1.8B | 1.9B | 1.9B |
| Owner Earnings | 881M | 1.1B | 1.0B | 1.1B | 1.5B | 1.6B | 965M | 1.1B | 762M | 1.4B | 1.7B | 1.8B | -2.4B |
| CapEx | 749M | 771M | 757M | 869M | 779M | 731M | 489M | 643M | 713M | 775M | 995M | 1.0B | 1.2B |
| Maint. CapEx | 863M | 852M | 851M | 894M | 729M | 775M | 813M | 843M | 939M | 924M | 936M | 977M | 5.3B |
| Growth CapEx | 0 | 0 | 0 | 0 | 50M | 0 | 0 | 0 | 0 | 0 | 59M | 72M | 0 |
| D&A | 863M | 852M | 851M | 894M | 729M | 775M | 813M | 843M | 939M | 924M | 936M | 977M | 5.3B |
| CapEx/OCF | 41.2% | 38.6% | 36.5% | 41.5% | 37.2% | 30.2% | 26.3% | 31.2% | 39.9% | 32.1% | 35.3% | 35.5% | 38.3% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 344M | 401M | 428M | 449M | 495M | 553M | 561M | 566M | 603M | 617M | 664M | 754M | 778M |
| Dividend Yield | 1.2% | 1.3% | 1.4% | 1.3% | 1.3% | 1.1% | 1.0% | 0.9% | 1.3% | 1.3% | 1.0% | 1.0% | 1.0% |
| Share Buybacks | 429M | 755M | 740M | 600M | 562M | 354M | 146M | 107M | 518M | 14M | 987M | 784M | 975M |
| Buyback Yield | 1.5% | 2.4% | 2.3% | 1.7% | 1.4% | 0.7% | 0.2% | 0.2% | 1.3% | 0.0% | 1.5% | 1.0% | 1.3% |
| Stock-Based Comp | 71M | 78M | 86M | 91M | 88M | 84M | 82M | 90M | 88M | 95M | 135M | 137M | 135M |
| Debt Repayment | 908M | 1.0B | 1.6B | 799M | 552M | 401M | 1.6B | 1.0B | 404M | 500M | 630M | 674M | 674M |
| Balance Sheet | |||||||||||||
| Net Debt | 6.0B | 5.4B | 5.7B | 7.1B | 6.9B | 6.0B | 5.5B | 8.9B | 7.7B | 7.4B | 6.4B | 7.7B | 7.9B |
| Cash & Equiv. | 210M | 93M | 327M | 211M | 115M | 119M | 1.3B | 360M | 599M | 920M | 1.3B | 646M | 520M |
| Long-Term Debt | 4.8B | 4.3B | 6.1B | 6.8B | 6.3B | 6.0B | 6.7B | 8.3B | 8.1B | 7.6B | 6.9B | 7.4B | 6.9B |
| Debt/Equity | 0.85 | 0.80 | 0.88 | 0.96 | 0.88 | 0.71 | 1.09 | 1.28 | 1.14 | 1.03 | 0.88 | 0.86 | 0.84 |
| Interest Coverage | 7.3 | 6.2 | 6.6 | 7.1 | 7.3 | 8.6 | 4.6 | 6.9 | 6.2 | 5.7 | 8.2 | 8.9 | 9.0 |
| Equity | 7.3B | 6.9B | 6.9B | 7.6B | 8.0B | 8.7B | 6.2B | 7.2B | 7.2B | 8.0B | 8.8B | 9.8B | 10.0B |
| Total Assets | 19.4B | 18.6B | 18.3B | 20.0B | 20.1B | 20.9B | 18.1B | 21.2B | 21.5B | 21.8B | 22.4B | 24.7B | 25.0B |
| Total Liabilities | 12.0B | 11.7B | 11.4B | 12.3B | 12.0B | 12.1B | 11.9B | 14.0B | 14.2B | 13.8B | 13.6B | 14.9B | 15.0B |
| Intangibles | 4.5B | 4.1B | 3.8B | 4.0B | 3.8B | 2.9B | 3.0B | 4.2B | 3.7B | 3.5B | 3.3B | 3.7B | 3.5B |
| Retained Earnings | 5.6B | 6.2B | 7.0B | 8.0B | 8.9B | 10.0B | 8.2B | 8.8B | 9.3B | 10.1B | 11.5B | 12.8B | 13.1B |
| Working Capital | 485M | -317M | 1.3B | 1.1B | 992M | 1.2B | 2.2B | 1.1B | 1.3B | 1.3B | 1.2B | 421M | -53M |
| Current Assets | 4.9B | 4.4B | 4.3B | 4.6B | 4.7B | 4.8B | 5.1B | 4.7B | 5.5B | 5.6B | 6.0B | 6.0B | 6.0B |
| Current Liabilities | 4.4B | 4.8B | 3.0B | 3.5B | 3.7B | 3.6B | 2.9B | 3.6B | 4.2B | 4.3B | 4.8B | 5.5B | 6.1B |
| Per Share Data | |||||||||||||
| EPS | 3.93 | 3.32 | 4.14 | 5.12 | 4.88 | 5.33 | -4.15 | 3.91 | 3.81 | 4.79 | 7.37 | 7.28 | 7.45 |
| Owner EPS | 2.88 | 3.55 | 3.38 | 3.77 | 4.99 | 5.34 | 3.32 | 3.91 | 2.66 | 4.86 | 6.08 | 6.45 | -8.63 |
| Book Value | 23.90 | 22.89 | 23.25 | 25.81 | 27.33 | 29.70 | 21.24 | 25.00 | 25.25 | 28.08 | 30.55 | 34.27 | 35.55 |
| Cash Flow/Share | 5.93 | 6.63 | 6.53 | 7.12 | 7.78 | 8.28 | 6.41 | 7.14 | 6.24 | 8.42 | 9.82 | 10.36 | 26.40 |
| Dividends/Share | 1.16 | 1.34 | 1.42 | 1.52 | 1.69 | 1.85 | 1.89 | 1.95 | 2.06 | 2.16 | 2.36 | 2.68 | 2.76 |
| Shares Out. | 306.1M | 301.8M | 296.9M | 293.9M | 292.8M | 292.5M | 290.4M | 289.0M | 286.5M | 286.5M | 286.6M | 285.1M | 281.4M |
| Valuation | |||||||||||||
| P/E Ratio | 24.2 | 31.2 | 25.9 | 24.1 | 27.5 | 33.7 | N/A | 57.2 | 36.5 | 40.7 | 31.9 | 36.5 | 36.1 |
| P/FCF | 27.2 | 25.4 | 26.9 | 29.7 | 26.2 | 31.1 | 43.0 | 45.5 | 37.1 | 34.1 | 37.1 | 39.8 | 40.4 |
| EV/EBIT | 18.9 | 25.5 | 20.0 | 22.4 | 24.1 | 32.0 | 45.3 | 45.7 | 30.6 | 31.5 | 26.1 | 30.5 | 29.8 |
| Price/Book | 4.0 | 4.5 | 4.6 | 4.8 | 4.9 | 6.1 | 9.6 | 8.9 | 5.5 | 6.9 | 7.7 | 7.8 | 7.6 |
| Price/Sales | 2.0 | 2.3 | 2.3 | 2.5 | 2.7 | 4.0 | 4.6 | 4.7 | 3.2 | 3.1 | 4.2 | 4.6 | 4.6 |
| FCF Yield | 3.7% | 3.9% | 3.7% | 3.4% | 3.8% | 3.2% | 2.3% | 2.2% | 2.7% | 2.9% | 2.7% | 2.5% | 2.5% |
| Market Cap | 29.1B | 31.3B | 31.8B | 36.3B | 39.3B | 52.6B | 59.0B | 64.6B | 39.9B | 55.8B | 67.5B | 75.8B | 75.6B |
| Avg. Price | 95.57 | 101.04 | 103.87 | 117.54 | 133.72 | 172.13 | 185.94 | 207.81 | 160.18 | 167.51 | 230.54 | 259.44 | 268.75 |
| Year-End Price | 94.92 | 103.53 | 107.11 | 123.54 | 134.09 | 179.79 | 203.28 | 223.64 | 139.24 | 194.94 | 235.34 | 265.75 | 268.75 |
ECOLAB INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
ECOLAB INC. trades at 36.9x trailing earnings, compared to its 15-year median P/E of 33.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 39.8x vs a median of 35.6x. The company's 5-year average ROIC is 11.5% with a gross margin of 41.2%. Total shareholder yield (dividends + buybacks) is 2.3%. At current prices, the estimated annualized return to fair value is +3.3%.
ECOLAB INC. (ECL) has a net profit margin of 12.9%. This is a healthy margin.
ECOLAB INC. (ECL) generated $1.9 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
ECOLAB INC. (ECL) has a debt-to-equity ratio of 0.86. This indicates moderate leverage.
ECOLAB INC. (ECL) reported earnings per share (EPS) of $7.28 in its most recent fiscal year.
ECOLAB INC. (ECL) has a return on equity (ROE) of 22.4%. This indicates the company generates strong returns for shareholders.
ECOLAB INC. (ECL) has a 5-year average gross margin of 41.2%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for ECOLAB INC. (ECL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ECOLAB INC. (ECL) has a book value per share of $34.27, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects operating income margin expansion to continue through 2027, with Pest Elimination targeting a 20% operating income margin by 2027 and Life Sciences positioned to reach a 30% operating income margin over the next few years. Organic sales growth is anticipated to accelerate in the second half of 2026 and beyond, supported by strengthening volume gains and continued value pricing of 2%-3%, with the company targeting 6%-7% organic sales growth in the second half of the current year and 3%-4% organic growth for full-year 2026. The company expects commodity cost inflation to remain elevated through the end of the year but anticipates full offset through surcharge pricing implementation and accelerating pricing actions, with gross margin stabilization expected in the second half. Growth engines including Global High-Tech, Life Sciences, Pest Intelligence, and Ecolab Digital are expected to collectively grow double digits and lift overall company sales growth, while the One Ecolab productivity program—with savings targets increased to $325 million by 2027—will drive SG&A leverage of 25-50 basis points annually through 2030, supporting the company's path to sustained 12%-15% earnings per share growth.