Ecolab (ECL) Financials

$264.16 +1.41 (+0.54%)

Closing price 03:59 PM Eastern

Extended Trading

$264.30 +0.14 (+0.05%)

As of 06:28 PM Eastern

Annual Income Statements for Ecolab

This table shows Ecolab's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	2,112	1,372	1,092	1,130	-1,205	1,559	1,429	1,505	1,229	1,002
Consolidated Net Income / (Loss)	2,132	1,393	1,109	1,144	-1,188	1,576	1,445	1,519	1,247	1,017
Net Income / (Loss) Continuing Operations	2,132	1,393	1,109	1,144	985	1,443	1,266	1,519	1,247	1,017
Total Pre-Tax Income	2,571	1,756	1,343	1,414	1,161	1,732	1,587	1,762	1,649	1,318
Total Operating Income	2,802	1,992	1,563	1,599	1,396	1,845	1,728	1,950	1,870	1,561
Total Gross Profit	6,842	6,165	5,357	5,117	4,884	5,516	5,347	5,772	5,618	6,322
Total Revenue	15,741	15,320	14,188	12,733	11,790	12,562	12,222	13,836	13,152	13,545
Operating Revenue	15,741	15,320	14,188	12,733	11,790	12,562	12,222	13,836	13,152	13,545
Total Cost of Revenue	8,900	9,155	8,831	7,616	6,906	7,046	6,875	8,064	7,534	7,224
Operating Cost of Revenue	8,900	9,155	8,831	7,616	6,906	7,046	6,875	8,064	7,534	7,224
Total Operating Expenses	4,039	4,173	3,794	3,519	3,489	3,671	3,619	3,822	3,748	4,760
Selling, General & Admin Expense	4,228	4,062	3,654	3,416	3,309	3,551	3,506	3,825	3,708	4,346
Other Special Charges / (Income)	-189	111	141	103	180	120	113	-3.70	40	415
Total Other Income / (Expense), net	-231	-237	-219	-184	-234	-114	-141	-188	-221	-244
Interest Expense	283	297	244	218	290	191	221	255	265	244
Other Income / (Expense), net	51	60	25	34	56	77	80	67	44	-
Income Tax Expense	439	363	235	270	177	289	321	244	403	301
Net Income / (Loss) Attributable to Noncontrolling Interest	20	21	17	14	17	17	16	14	18	15
Basic Earnings per Share	$7.43	$4.82	$3.83	$3.95	($4.20)	$5.41	$4.95	$5.20	$4.20	$3.38
Weighted Average Basic Shares Outstanding	284.30M	285M	285.20M	286.30M	287M	288.10M	288.60M	289.60M	292.50M	296.40M
Diluted Earnings per Share	$7.37	$4.79	$3.81	$3.91	($4.15)	$5.33	$4.88	$5.12	$4.14	$3.32
Weighted Average Diluted Shares Outstanding	286.60M	286.50M	286.60M	289.10M	290.30M	292.50M	292.80M	294M	296.70M	301.40M
Weighted Average Basic & Diluted Shares Outstanding	283.00M	285.51M	284.46M	286.75M	285.85M	288.17M	288.70M	-150.46B	292.80M	296.50M
Cash Dividends to Common per Share	$2.36	$2.16	$2.06	$1.95	$1.89	$1.85	$1.69	$1.52	$1.42	$1.34

This table shows Ecolab's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	403	473	737	491	412	405	404	330	233	264	347
Consolidated Net Income / (Loss)	407	480	741	495	417	411	409	335	238	270	352
Net Income / (Loss) Continuing Operations	407	480	741	495	417	411	409	335	238	270	352
Total Pre-Tax Income	510	534	987	591	459	538	506	421	291	322	412
Total Operating Income	555	583	1,045	657	518	590	566	485	352	399	483
Total Gross Profit	1,635	1,736	1,737	1,745	1,624	1,654	1,628	1,517	1,366	1,416	1,378
Total Revenue	3,695	4,005	3,999	3,986	3,752	3,938	3,958	3,852	3,572	3,671	3,669
Operating Revenue	3,695	4,005	3,999	3,986	3,752	3,938	3,958	3,852	3,572	3,671	3,669
Total Cost of Revenue	2,060	2,269	2,262	2,241	2,128	2,284	2,331	2,335	2,205	2,255	2,292
Operating Cost of Revenue	2,060	2,269	2,262	2,241	2,128	2,284	2,331	2,335	2,205	2,255	2,292
Total Operating Expenses	1,080	1,153	692	1,088	1,106	1,064	1,062	1,033	1,015	1,017	895
Selling, General & Admin Expense	1,050	1,050	1,025	1,076	1,078	1,035	1,025	1,012	990	922	877
Other Special Charges / (Income)	30	103	-333	12	28	29	37	21	25	95	18
Total Other Income / (Expense), net	-45	-49	-58	-66	-59	-53	-60	-63	-61	-78	-71
Interest Expense	58	62	70	79	72	70	74	78	74	70	65
Other Income / (Expense), net	13	13	13	13	13	18	15	14	13	-8.10	-5.70
Income Tax Expense	104	55	247	96	42	127	97	87	52	52	60
Net Income / (Loss) Attributable to Noncontrolling Interest	4.00	6.60	4.30	4.10	4.50	5.60	5.40	5.00	4.70	5.10	4.90
Basic Earnings per Share	$1.42	$1.67	$2.60	$1.72	$1.44	$1.42	$1.42	$1.16	$0.82	$0.93	$1.22
Weighted Average Basic Shares Outstanding	283.40M	284.30M	283.60M	284.60M	285.70M	285M	285.10M	284.90M	284.60M	285.20M	284.90M
Diluted Earnings per Share	$1.41	$1.65	$2.58	$1.71	$1.43	$1.41	$1.41	$1.15	$0.82	$0.92	$1.21
Weighted Average Diluted Shares Outstanding	285.30M	286.60M	286M	287M	287.80M	286.50M	286.90M	286.30M	285.90M	286.60M	286.30M
Weighted Average Basic & Diluted Shares Outstanding	283.51M	283.00M	283.16M	284.54M	285.57M	285.51M	285.14M	285.03M	284.72M	284.46M	284.83M

This table details how cash moves in and out of Ecolab's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	337	321	239	-900	1,074	-128	75	-158	288	-117
Net Cash From Operating Activities	2,814	2,412	1,788	2,062	1,860	2,421	2,278	2,091	1,940	2,000
Net Cash From Continuing Operating Activities	2,814	2,412	1,788	2,062	1,742	2,047	2,007	2,091	1,940	2,000
Net Income / (Loss) Continuing Operations	2,132	1,393	1,109	1,144	985	1,443	1,266	1,519	1,247	1,017
Consolidated Net Income / (Loss)	2,132	1,393	1,109	1,144	-1,186	1,443	1,266	1,519	1,247	1,017
Depreciation Expense	635	617	619	604	594	569	536	586	561	560
Amortization Expense	301	307	320	239	218	206	195	308	290	300
Non-Cash Adjustments To Reconcile Net Income	-239	-12	160	75	199	-32	113	-9.60	-97	447
Changes in Operating Assets and Liabilities, net	-14	107	-419	-0.50	-255	-140	-102	-311	-61	-324
Net Cash From Investing Activities	-434	-991	-717	-4,580	-415	-1,199	-1,030	-1,727	-774	-916
Net Cash From Continuing Investing Activities	-434	-991	-717	0.00	-858	-1,130	-962	-1,727	-774	-916
Purchase of Property, Plant & Equipment	-995	-775	-713	-643	-489	-731	-779	-869	-757	-815
Acquisitions	-313	-180	-7.20	-3,924	-487	-391	-230	-989	-50	-266
Sale of Property, Plant & Equipment	11	9.90	2.20	12	5.30	7.50	28	11	31	15
Divestitures	890	0.00	0.00	-	116	6.80	9.20	119	0.90	-3.70
Other Investing Activities, net	-27	-45	1.00	-25	-3.20	-21	9.40	-0.80	0.00	46
Net Cash From Financing Activities	-2,024	-1,055	-837	1,603	-342	-1,350	-1,173	-523	-868	-1,151
Net Cash From Continuing Financing Activities	-2,024	-1,055	-837	0.00	-340	-1,347	-1,171	-523	-868	-1,151
Repayment of Debt	-634	-505	-7.10	-1,062	-1,657	-375	-571	-858	-1,570	-1,347
Repurchase of Common Equity	-987	-14	-518	-107	-146	-354	-562	-600	-740	-755
Payment of Dividends	-664	-617	-603	-566	-561	-553	-495	-449	-428	-401
Issuance of Debt	1.90	0.00	90	3,169	1,790	-252	342	1,309	1,784	1,224
Other Financing Activities, net	259	82	201	169	233	187	115	75	85	128
Effect of Exchange Rate Changes	-19	-	4.40	14	-30	-	-	-	-10	-50
Cash Interest Paid	343	325	222	209	263	189	206	239	267	237
Cash Income Taxes Paid	647	469	309	276	367	337	365	403	359	533

This table details how cash moves in and out of Ecolab's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-94	-4.30	871	-90	-440	-82	447	135	-179	486	-12
Net Cash From Operating Activities	369	767	787	611	649	853	788	573	198	859	437
Net Cash From Continuing Operating Activities	369	767	787	611	649	853	788	573	198	1,788	-
Net Income / (Loss) Continuing Operations	407	480	741	495	417	411	409	335	238	270	352
Consolidated Net Income / (Loss)	407	480	741	495	417	411	409	335	238	270	352
Depreciation Expense	161	161	157	160	157	153	152	153	159	155	152
Amortization Expense	75	74	73	75	78	77	77	77	76	81	81
Non-Cash Adjustments To Reconcile Net Income	49	60	-363	26	37	-2.60	-30	27	-5.60	129	20
Changes in Operating Assets and Liabilities, net	-322	-8.70	179	-145	-39	214	179	-17	-269	224	-168
Net Cash From Investing Activities	-224	-628	639	-244	-201	-348	-179	-274	-189	-210	-196
Net Cash From Continuing Investing Activities	-224	-628	639	-244	-201	-348	-179	-274	-189	-717	-
Purchase of Property, Plant & Equipment	-238	-360	-236	-197	-202	-263	-167	-172	-174	-203	-193
Sale of Property, Plant & Equipment	22	8.00	-0.20	2.80	0.70	0.40	0.90	3.80	4.80	0.80	0.70
Divestitures	-15	-	-	-	-	-	-	-	-	-	-
Other Investing Activities, net	7.20	-19	3.70	-12	-0.20	-13	-11	-0.90	-21	-8.40	-3.80
Net Cash From Financing Activities	-242	-140	-548	-446	-889	-586	-147	-156	-166	-162	-247
Net Cash From Continuing Financing Activities	-242	-140	-548	-446	-889	-586	-147	-156	-166	-837	-
Repayment of Debt	1.10	-1.10	-1.80	-0.70	-630	-503	-0.90	-0.80	-0.70	-3.90	-1.80
Repurchase of Common Equity	-154	-2.80	-464	-323	-196	-2.00	-0.80	-0.30	-11	-73	-43
Payment of Dividends	-192	-161	-162	-166	-175	-155	-154	-151	-158	-158	-145
Issuance of Debt	4.50	-1.40	1.60	-5.50	7.20	0.30	-2.00	-3.80	5.50	2.10	-120
Other Financing Activities, net	99	27	78	48	106	74	11	-	-2.90	71	62
Effect of Exchange Rate Changes	2.00	-3.40	-6.40	-	-	-	-	-	-22	-1.40	-5.70

This table presents Ecolab's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	22,388	21,847	21,464	21,206	18,126	20,869	20,075	19,964	18,330	18,642
Total Current Assets	6,026	5,644	5,494	4,687	5,117	4,828	4,678	4,594	4,279	4,448
Cash & Equivalents	1,257	920	599	360	1,260	119	115	211	327	93
Accounts Receivable	2,865	2,834	2,698	2,478	2,274	2,382	2,663	2,571	2,341	2,390
Inventories, net	1,465	1,497	1,793	1,492	1,285	1,082	1,546	1,447	1,319	1,388
Other Current Assets	439	393	405	357	298	295	354	365	291	326
Plant, Property, & Equipment, net	3,752	3,475	3,293	3,289	3,125	3,228	3,836	3,707	3,365	3,228
Total Noncurrent Assets	12,610	12,728	12,677	13,231	9,884	12,812	11,561	11,662	10,686	10,966
Goodwill	7,907	8,148	8,013	8,064	6,007	5,569	7,078	7,167	6,383	6,491
Intangible Assets	3,309	3,494	3,681	4,224	2,977	2,928	3,798	4,018	3,818	4,109
Other Noncurrent Operating Assets	1,394	1,086	983	943	900	983	685	477	485	366
Total Liabilities & Shareholders' Equity	22,388	21,847	21,464	21,206	18,126	20,869	20,075	19,964	18,330	18,642
Total Liabilities	13,599	13,774	14,206	13,953	11,925	12,143	12,021	12,310	11,359	11,661
Total Current Liabilities	4,793	4,346	4,210	3,553	2,932	3,631	3,686	3,475	3,019	4,764
Short-Term Debt	616	630	505	411	17	381	744	564	541	2,205
Accounts Payable	1,810	1,566	1,728	1,384	1,161	1,075	1,256	1,177	983	1,050
Current Deferred & Payable Income Tax Liabilities	127	159	198	104	96	137	101	184	87	52
Current Employee Benefit Liabilities	727	656	494	510	469	566	580	549	516	509
Other Current Liabilities	1,513	1,335	1,286	1,144	1,189	1,111	1,006	1,001	891	948
Total Noncurrent Liabilities	8,806	9,429	9,995	10,400	8,992	8,513	8,335	8,835	8,340	6,897
Long-Term Debt	6,949	7,551	8,075	8,347	6,669	5,973	6,302	6,758	6,146	4,260
Noncurrent Deferred & Payable Income Tax Liabilities	280	418	506	622	484	537	765	635	970	1,281
Noncurrent Employee Benefit Liabilities	635	652	670	894	1,226	1,084	944	1,026	1,019	1,117
Other Noncurrent Operating Liabilities	942	807	744	537	613	616	325	415	205	238
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-
Total Equity & Noncontrolling Interests	8,789	8,072	7,259	7,253	6,202	8,726	8,054	7,654	6,971	6,980
Total Preferred & Common Equity	8,757	8,045	7,236	7,224	6,167	8,685	8,003	7,584	6,901	6,910
Total Common Equity	8,757	8,045	7,236	7,224	6,167	8,685	8,003	7,584	6,901	6,910
Common Stock	7,527	7,132	6,945	6,829	6,598	6,267	5,990	5,790	5,623	5,436
Retained Earnings	11,517	10,075	9,319	8,815	8,243	9,994	8,910	8,012	6,975	6,160
Treasury Stock	-8,305	-7,313	-7,301	-6,784	-6,680	-5,485	-5,135	-4,575	-3,984	-3,264
Accumulated Other Comprehensive Income / (Loss)	-1,982	-1,850	-1,727	-1,635	-1,994	-2,090	-1,762	-1,643	-1,713	-1,423
Noncontrolling Interest	32	28	23	29	35	41	50	70	70	71

This table presents Ecolab's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	22,366	22,388	22,102	21,462	21,299	21,847	21,858	21,456	21,252	21,464	21,037
Total Current Assets	6,081	6,026	6,118	5,752	5,212	5,644	5,789	5,437	5,273	5,494	5,099
Cash & Equivalents	1,163	1,257	1,261	384	480	920	1,001	554	419	599	113
Accounts Receivable	2,857	2,865	2,883	2,876	2,787	2,834	2,824	2,780	2,668	2,698	2,714
Inventories, net	1,547	1,465	1,572	1,506	1,566	1,497	1,536	1,646	1,727	1,793	1,803
Other Current Assets	514	439	402	986	379	393	429	456	458	405	469
Plant, Property, & Equipment, net	3,776	3,752	3,546	3,417	3,451	3,475	3,333	3,327	3,313	3,293	3,261
Total Noncurrent Assets	12,510	12,610	12,438	12,293	12,636	12,728	12,736	12,693	12,666	12,677	12,677
Goodwill	7,865	7,907	7,899	7,822	8,111	8,148	8,098	8,101	8,062	8,013	7,741
Intangible Assets	3,229	3,309	3,282	3,334	3,414	3,494	3,529	3,604	3,617	3,681	3,915
Other Noncurrent Operating Assets	1,416	1,394	1,257	1,137	1,111	1,086	1,109	988	987	983	1,020
Total Liabilities & Shareholders' Equity	22,366	22,388	22,102	21,462	21,299	21,847	21,858	21,456	21,252	21,464	21,037
Total Liabilities	13,463	13,599	13,526	13,154	13,073	13,774	14,036	13,876	13,887	14,206	13,947
Total Current Liabilities	4,609	4,793	4,709	3,848	3,701	4,346	4,601	4,468	4,490	4,210	3,772
Short-Term Debt	614	616	643	5.90	11	630	1,129	1,122	1,118	505	498
Accounts Payable	1,766	1,810	1,812	1,691	1,607	1,566	1,499	1,477	1,470	1,728	1,584
Current Deferred & Payable Income Tax Liabilities	179	127	235	137	202	159	134	117	172	198	110
Current Employee Benefit Liabilities	540	727	605	541	527	656	553	469	450	494	434
Other Current Liabilities	1,511	1,513	1,414	1,411	1,354	1,335	1,285	1,282	1,280	1,286	1,145
Total Noncurrent Liabilities	8,854	8,806	8,817	9,306	9,372	9,429	9,435	9,408	9,397	9,995	10,175
Long-Term Debt	6,998	6,949	6,975	7,539	7,529	7,551	7,487	7,500	7,522	8,075	8,027
Noncurrent Deferred & Payable Income Tax Liabilities	249	280	265	291	352	418	451	474	496	506	577
Noncurrent Employee Benefit Liabilities	590	635	625	627	640	652	627	661	666	670	878
Other Noncurrent Operating Liabilities	1,016	942	953	850	851	807	870	774	714	744	693
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	8,904	8,789	8,576	8,308	8,226	8,072	7,823	7,581	7,365	7,259	7,090
Total Preferred & Common Equity	8,876	8,757	8,548	8,287	8,206	8,045	7,796	7,557	7,344	7,236	7,063
Total Common Equity	8,876	8,757	8,548	8,287	8,206	8,045	7,796	7,557	7,344	7,236	7,063
Common Stock	7,667	7,527	7,476	7,369	7,284	7,132	7,076	7,049	6,992	6,945	6,916
Retained Earnings	11,735	11,517	11,228	10,653	10,325	10,075	9,833	9,580	9,401	9,319	9,205
Treasury Stock	-8,462	-8,305	-8,303	-7,836	-7,522	-7,313	-	-	-	-7,301	-
Accumulated Other Comprehensive Income / (Loss)	-2,064	-1,982	-1,854	-1,899	-1,881	-1,850	-1,801	-1,762	-1,737	-1,727	-1,831
Noncontrolling Interest	28	32	28	21	20	28	27	24	21	23	27

This table displays calculated financial ratios and metrics derived from Ecolab's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.75%	7.98%	11.42%	8.00%	-6.14%	2.78%	-11.66%	5.20%	-2.90%	-5.15%
EBITDA Growth	27.33%	17.82%	2.02%	9.33%	-16.06%	6.26%	-12.78%	5.28%	14.21%	-14.37%
EBIT Growth	39.06%	29.31%	-2.79%	12.46%	-24.48%	6.30%	-10.37%	5.40%	22.59%	-20.14%
NOPAT Growth	46.98%	22.57%	-0.26%	9.27%	-23.03%	11.54%	-17.96%	18.89%	17.27%	-14.33%
Net Income Growth	53.04%	25.62%	-3.07%	196.32%	-175.35%	9.10%	-4.87%	21.83%	22.54%	-16.77%
EPS Growth	53.86%	25.72%	-2.56%	194.22%	-177.86%	9.22%	-4.69%	23.67%	24.70%	-15.52%
Operating Cash Flow Growth	16.67%	34.86%	-13.26%	10.84%	-23.15%	6.28%	8.91%	7.82%	-3.01%	237.01%
Free Cash Flow Firm Growth	72.24%	-12.58%	162.29%	-404.67%	-82.70%	346.83%	371.86%	-82.89%	-8.70%	-5.30%
Invested Capital Growth	-1.55%	0.62%	-2.63%	34.60%	2.53%	-24.32%	1.48%	10.76%	-0.17%	-2.68%
Revenue Q/Q Growth	0.43%	1.78%	2.21%	-14.31%	31.56%	12.03%	-16.04%	2.20%	-0.46%	-1.95%
EBITDA Q/Q Growth	-0.18%	7.62%	0.71%	-0.97%	-1.78%	10.75%	-14.79%	6.58%	9.22%	-7.75%
EBIT Q/Q Growth	-0.42%	11.81%	-0.19%	-1.94%	-3.48%	5.23%	-11.84%	8.87%	13.87%	-11.24%
NOPAT Q/Q Growth	3.19%	7.94%	-0.38%	0.27%	-3.70%	9.35%	-21.65%	16.77%	8.92%	-8.71%
Net Income Q/Q Growth	3.33%	11.29%	-3.13%	135.00%	-196.11%	1.95%	-10.18%	14.91%	13.52%	-10.58%
EPS Q/Q Growth	3.37%	11.40%	-3.05%	0.77%	-12.47%	2.11%	-10.29%	15.58%	15.00%	-10.99%
Operating Cash Flow Q/Q Growth	-2.96%	-0.28%	13.90%	-0.43%	-8.43%	-0.26%	8.63%	10.48%	-36.07%	169.62%
Free Cash Flow Firm Q/Q Growth	-7.12%	-2.75%	177.57%	-326.59%	-80.18%	385.44%	-23.89%	14.18%	10.93%	-30.56%
Invested Capital Q/Q Growth	1.11%	-0.67%	-1.69%	30.27%	-2.53%	-25.50%	0.68%	0.80%	-0.70%	-0.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.46%	40.24%	37.76%	40.19%	41.43%	43.91%	43.75%	41.72%	42.72%	46.67%
EBITDA Margin	24.07%	19.42%	17.80%	19.44%	19.20%	21.47%	20.77%	21.04%	21.02%	17.87%
Operating Margin	17.80%	13.00%	11.01%	12.55%	11.84%	14.69%	14.14%	14.09%	14.22%	11.53%
EBIT Margin	18.13%	13.40%	11.19%	12.82%	12.31%	15.30%	14.79%	14.58%	14.55%	11.53%
Profit (Net Income) Margin	13.54%	9.09%	7.82%	8.98%	-10.07%	12.55%	11.82%	10.98%	9.48%	7.51%
Tax Burden Percent	82.91%	79.35%	82.54%	80.89%	-102.26%	91.03%	91.03%	86.17%	75.57%	77.20%
Interest Burden Percent	90.10%	85.54%	84.65%	86.63%	80.01%	90.08%	87.77%	87.36%	86.18%	84.40%
Effective Tax Rate	17.09%	20.65%	17.46%	19.11%	15.21%	16.67%	20.24%	13.83%	24.43%	22.80%
Return on Invested Capital (ROIC)	15.27%	10.34%	8.35%	9.48%	10.31%	11.68%	9.27%	11.96%	10.59%	8.90%
ROIC Less NNEP Spread (ROIC-NNEP)	12.45%	7.88%	6.14%	7.32%	-48.67%	12.49%	10.21%	9.56%	7.97%	5.94%
Return on Net Nonoperating Assets (RNNOA)	10.02%	7.83%	6.93%	7.52%	-26.22%	7.11%	9.13%	8.81%	7.28%	5.26%
Return on Equity (ROE)	25.29%	18.17%	15.28%	17.01%	-15.91%	18.79%	18.40%	20.77%	17.87%	14.16%
Cash Return on Invested Capital (CROIC)	16.83%	9.73%	11.01%	-20.02%	7.80%	39.36%	7.80%	1.75%	10.76%	11.62%
Operating Return on Assets (OROA)	12.90%	9.48%	7.44%	8.30%	7.45%	9.39%	9.03%	10.54%	10.35%	8.20%
Return on Assets (ROA)	9.64%	6.43%	5.20%	5.82%	-6.09%	7.70%	7.22%	7.93%	6.74%	5.34%
Return on Common Equity (ROCE)	25.20%	18.11%	15.23%	16.92%	-15.83%	18.69%	18.25%	20.57%	17.69%	14.03%
Return on Equity Simple (ROE_SIMPLE)	24.34%	17.32%	15.32%	15.84%	-19.26%	18.15%	18.05%	20.02%	18.06%	14.72%
Net Operating Profit after Tax (NOPAT)	2,324	1,581	1,290	1,293	1,183	1,538	1,379	1,680	1,413	1,205
NOPAT Margin	14.76%	10.32%	9.09%	10.16%	10.04%	12.24%	11.28%	12.14%	10.75%	8.90%
Net Nonoperating Expense Percent (NNEP)	2.83%	2.47%	2.21%	2.16%	58.98%	-0.81%	-0.94%	2.40%	2.62%	2.96%
Return On Investment Capital (ROIC_SIMPLE)	14.21%	9.73%	8.14%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	56.54%	59.76%	62.24%	59.81%	58.57%	56.09%	56.25%	58.28%	57.28%	53.33%
SG&A Expenses to Revenue	26.86%	26.51%	25.75%	26.83%	28.07%	28.27%	28.68%	27.65%	28.20%	32.08%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	25.66%	27.24%	26.74%	27.63%	29.59%	29.22%	29.61%	27.62%	28.50%	35.14%
Earnings before Interest and Taxes (EBIT)	2,854	2,052	1,587	1,633	1,452	1,922	1,808	2,017	1,914	1,561
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,789	2,976	2,526	2,476	2,264	2,698	2,539	2,911	2,765	2,421
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.58	6.96	5.61	9.07	9.67	6.13	5.04	4.79	4.59	4.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	282.08	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.22	3.66	2.86	5.14	5.06	4.24	3.30	2.62	2.41	2.28
Price to Earnings (P/E)	31.41	40.81	37.15	57.98	0.00	34.15	28.22	24.14	25.75	30.83
Dividend Yield	1.01%	1.10%	1.45%	0.85%	0.90%	1.00%	1.21%	1.21%	1.31%	1.28%
Earnings Yield	3.18%	2.45%	2.69%	1.72%	0.00%	2.93%	3.54%	4.14%	3.88%	3.24%
Enterprise Value to Invested Capital (EV/IC)	4.81	4.13	3.19	4.72	5.60	5.25	3.16	2.95	2.86	2.80
Enterprise Value to Revenue (EV/Rev)	4.62	4.13	3.42	5.81	5.52	4.74	3.87	3.14	2.90	2.76
Enterprise Value to EBITDA (EV/EBITDA)	19.18	21.27	19.23	29.87	28.76	22.06	18.64	14.94	13.77	15.42
Enterprise Value to EBIT (EV/EBIT)	25.47	30.84	30.60	45.29	44.86	30.96	26.17	21.56	19.89	23.92
Enterprise Value to NOPAT (EV/NOPAT)	31.28	40.04	37.65	57.17	55.02	38.70	34.32	25.89	26.94	30.98
Enterprise Value to Operating Cash Flow (EV/OCF)	25.83	26.25	27.15	35.86	35.00	24.58	20.77	20.80	19.63	18.67
Enterprise Value to Free Cash Flow (EV/FCFF)	28.39	42.57	28.55	0.00	72.66	11.48	40.80	177.01	26.52	23.74
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.86	1.01	1.18	1.21	1.08	0.73	0.87	0.96	0.96	0.93
Long-Term Debt to Equity	0.79	0.94	1.11	1.15	1.08	0.68	0.78	0.88	0.88	0.61
Financial Leverage	0.80	0.99	1.13	1.03	0.54	0.57	0.89	0.92	0.91	0.89
Leverage Ratio	2.62	2.83	2.94	2.92	2.61	2.44	2.55	2.62	2.65	2.65
Compound Leverage Factor	2.36	2.42	2.49	2.53	2.09	2.20	2.24	2.29	2.28	2.24
Debt to Total Capital	46.26%	50.34%	54.17%	54.70%	51.88%	42.13%	46.66%	48.89%	48.96%	48.09%
Short-Term Debt to Total Capital	3.76%	3.88%	3.19%	2.57%	0.13%	2.52%	4.92%	3.77%	3.96%	16.40%
Long-Term Debt to Total Capital	42.49%	46.46%	50.98%	52.13%	51.75%	39.61%	41.74%	45.13%	45.00%	31.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.20%	0.17%	0.14%	0.18%	0.27%	0.27%	0.33%	0.47%	0.51%	0.52%
Common Equity to Total Capital	53.55%	49.49%	45.69%	45.12%	47.85%	57.60%	53.01%	50.64%	50.53%	51.39%
Debt to EBITDA	2.00	2.75	3.40	3.54	2.95	2.36	2.78	2.52	2.42	2.67
Net Debt to EBITDA	1.66	2.44	3.16	3.39	2.40	2.31	2.73	2.44	2.30	2.63
Long-Term Debt to EBITDA	1.83	2.54	3.20	3.37	2.95	2.21	2.48	2.32	2.22	1.76
Debt to NOPAT	3.26	5.18	6.65	6.77	5.65	4.13	5.11	4.36	4.73	5.36
Net Debt to NOPAT	2.71	4.59	6.19	6.49	4.59	4.05	5.03	4.23	4.50	5.29
Long-Term Debt to NOPAT	2.99	4.78	6.26	6.45	5.64	3.88	4.57	4.02	4.35	3.53
Altman Z-Score	4.84	4.17	3.30	4.32	4.70	4.28	3.60	3.43	3.35	3.03
Noncontrolling Interest Sharing Ratio	0.35%	0.33%	0.35%	0.47%	0.51%	0.54%	0.77%	0.96%	1.01%	0.95%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.26	1.30	1.30	1.32	1.75	1.33	1.27	1.32	1.42	0.93
Quick Ratio	0.86	0.86	0.78	0.80	1.21	0.69	0.75	0.80	0.88	0.52
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	2,561	1,487	1,701	-2,730	896	5,181	1,160	246	1,436	1,573
Operating Cash Flow to CapEx	286.20%	315.31%	251.67%	326.87%	384.58%	334.44%	303.41%	243.77%	267.07%	249.91%
Free Cash Flow to Firm to Interest Expense	9.06	5.01	6.98	-12.51	3.09	27.17	5.24	0.96	5.43	6.46
Operating Cash Flow to Interest Expense	9.96	8.13	7.34	9.45	6.41	12.69	10.30	8.20	7.33	8.21
Operating Cash Flow Less CapEx to Interest Expense	6.48	5.55	4.42	6.56	4.74	8.90	6.91	4.84	4.59	4.92
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.71	0.67	0.65	0.60	0.61	0.61	0.72	0.71	0.71
Accounts Receivable Turnover	5.52	5.54	5.48	5.36	5.06	4.98	4.67	5.63	5.56	5.40
Inventory Turnover	6.01	5.57	5.38	5.48	5.84	5.36	4.59	5.83	5.57	5.06
Fixed Asset Turnover	4.36	4.53	4.31	3.97	3.71	3.56	3.24	3.91	3.99	4.31
Accounts Payable Turnover	5.27	5.56	5.67	5.99	6.18	6.05	5.65	7.47	7.41	6.53
Days Sales Outstanding (DSO)	66.07	65.90	66.59	68.11	72.07	73.29	78.15	64.80	65.65	67.60
Days Inventory Outstanding (DIO)	60.74	65.59	67.88	66.55	62.55	68.07	79.44	62.59	65.59	72.13
Days Payable Outstanding (DPO)	69.24	65.67	64.32	60.98	59.09	60.37	64.57	48.89	49.24	55.89
Cash Conversion Cycle (CCC)	57.58	65.81	70.14	73.68	75.53	80.98	93.02	78.50	82.00	83.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,097	15,335	15,240	15,651	11,628	11,341	14,984	14,765	13,331	13,353
Invested Capital Turnover	1.03	1.00	0.92	0.93	1.03	0.95	0.82	0.98	0.99	1.00
Increase / (Decrease) in Invested Capital	-237	94	-411	4,024	287	-3,644	219	1,435	-23	-368
Enterprise Value (EV)	72,690	63,299	48,563	73,935	65,115	59,504	47,313	43,499	38,077	37,340
Market Capitalization	66,350	56,009	40,559	65,508	59,653	53,229	40,332	36,317	31,647	30,896
Book Value per Share	$30.93	$28.21	$25.41	$25.21	$21.60	$30.13	$27.70	$26.25	$23.67	$23.40
Tangible Book Value per Share	($8.68)	($12.61)	($15.65)	($17.67)	($9.87)	$0.65	($9.94)	($12.46)	($11.32)	($12.50)
Total Capital	16,354	16,254	15,839	16,011	12,888	15,079	15,099	14,977	13,658	13,446
Total Debt	7,565	8,182	8,580	8,758	6,687	6,354	7,045	7,323	6,687	6,466
Total Long-Term Debt	6,949	7,551	8,075	8,347	6,669	5,973	6,302	6,758	6,146	4,260
Net Debt	6,308	7,262	7,982	8,398	5,426	6,235	6,931	7,111	6,360	6,373
Capital Expenditures (CapEx)	983	765	711	631	484	724	751	858	726	800
Debt-free, Cash-free Net Working Capital (DFCFNWC)	592	1,009	1,190	1,185	942	1,460	1,621	1,472	1,474	1,796
Debt-free Net Working Capital (DFNWC)	1,849	1,929	1,789	1,545	2,203	1,578	1,736	1,684	1,801	1,888
Net Working Capital (NWC)	1,233	1,298	1,284	1,134	2,185	1,198	992	1,119	1,260	-317
Net Nonoperating Expense (NNE)	192	188	181	149	2,371	-39	-66	162	167	188
Net Nonoperating Obligations (NNO)	6,308	7,262	7,982	8,398	5,426	2,615	6,931	7,111	6,360	6,373
Total Depreciation and Amortization (D&A)	935	924	939	843	813	775	730	893	851	860
Debt-free, Cash-free Net Working Capital to Revenue	3.76%	6.59%	8.39%	9.31%	7.99%	11.62%	13.26%	10.64%	11.21%	13.26%
Debt-free Net Working Capital to Revenue	11.74%	12.59%	12.61%	12.13%	18.68%	12.56%	14.20%	12.17%	13.70%	13.94%
Net Working Capital to Revenue	7.83%	8.47%	9.05%	8.91%	18.53%	9.54%	8.12%	8.09%	9.58%	-2.34%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.43	$4.82	$0.00	$3.95	($4.20)	$5.41	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic Shares Outstanding	284.30M	285M	0.00	286.30M	287M	288.10M	0.00	0.00	0.00	0.00
Adjusted Diluted Earnings per Share	$7.37	$4.79	$0.00	$3.91	($4.15)	$5.33	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	286.60M	286.50M	0.00	289.10M	290.30M	292.50M	0.00	0.00	0.00	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	283.00M	285.51M	0.00	286.75M	285.85M	288.17M	0.00	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	2,167	1,669	1,406	1,376	1,336	1,638	1,468	1,677	1,443	1,525
Normalized NOPAT Margin	13.77%	10.90%	9.91%	10.81%	11.33%	13.04%	12.01%	12.12%	10.97%	11.26%
Pre Tax Income Margin	16.33%	11.46%	9.47%	11.11%	9.85%	13.78%	12.99%	12.74%	12.54%	9.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	10.10	6.92	6.51	7.48	5.00	10.08	8.18	7.91	7.23	6.41
NOPAT to Interest Expense	8.23	5.33	5.29	5.92	4.08	8.06	6.23	6.59	5.34	4.95
EBIT Less CapEx to Interest Expense	6.62	4.34	3.60	4.59	3.34	6.28	4.78	4.55	4.49	3.12
NOPAT Less CapEx to Interest Expense	4.74	2.75	2.38	3.03	2.41	4.27	2.84	3.23	2.60	1.66
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.16%	44.31%	54.36%	49.51%	-47.22%	35.08%	34.25%	29.55%	34.30%	39.39%
Augmented Payout Ratio	77.43%	45.30%	101.09%	58.83%	-59.53%	57.52%	73.18%	69.08%	93.63%	113.63%

This table displays calculated financial ratios and metrics derived from Ecolab's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.52%	1.70%	1.02%	3.47%	5.05%	7.28%	7.87%	7.58%	9.33%	9.11%	10.49%
EBITDA Growth	5.11%	-0.82%	59.01%	24.16%	27.76%	33.59%	14.05%	7.13%	17.91%	2.94%	3.56%
EBIT Growth	7.13%	-1.96%	82.21%	34.14%	45.46%	55.43%	21.62%	12.08%	33.44%	-0.76%	-0.31%
NOPAT Growth	-5.86%	15.99%	71.25%	42.96%	63.15%	34.79%	10.98%	12.59%	42.79%	-1.22%	8.44%
Net Income Growth	-2.42%	16.72%	80.95%	47.89%	74.97%	52.43%	16.31%	7.04%	36.29%	-11.73%	7.12%
EPS Growth	-1.40%	17.02%	82.98%	48.70%	74.39%	53.26%	16.53%	6.48%	36.67%	-11.54%	8.04%
Operating Cash Flow Growth	-43.12%	-10.06%	-0.13%	6.57%	227.65%	-0.78%	80.38%	77.85%	16.52%	34.06%	-29.87%
Free Cash Flow Firm Growth	-51.26%	113.05%	147.04%	29.08%	64.25%	-52.14%	116.98%	115.30%	112.59%	120.23%	-1,139.91%
Invested Capital Growth	0.44%	-1.55%	-3.27%	-0.75%	-1.92%	0.62%	-0.41%	-0.84%	-1.15%	-2.63%	29.03%
Revenue Q/Q Growth	-7.74%	0.17%	0.32%	6.23%	-4.74%	-0.50%	2.75%	7.85%	-2.71%	0.05%	2.48%
EBITDA Q/Q Growth	-3.26%	-35.43%	42.38%	18.19%	-8.72%	3.52%	11.17%	21.62%	-4.56%	-11.62%	4.43%
EBIT Q/Q Growth	-4.65%	-43.65%	57.98%	26.20%	-12.73%	4.72%	16.31%	36.85%	-6.75%	-18.06%	7.19%
NOPAT Q/Q Growth	-15.38%	-33.28%	42.41%	17.08%	4.27%	-1.49%	18.88%	33.62%	-13.86%	-18.89%	20.60%
Net Income Q/Q Growth	-15.22%	-35.27%	49.66%	18.82%	1.41%	0.34%	22.32%	40.57%	-11.65%	-23.44%	12.57%
EPS Q/Q Growth	-14.55%	-36.05%	50.88%	19.58%	1.42%	0.00%	22.61%	40.24%	-10.87%	-23.97%	12.04%
Operating Cash Flow Q/Q Growth	-51.82%	-2.54%	28.74%	-5.90%	-23.82%	8.23%	37.37%	189.30%	-76.93%	96.75%	35.45%
Free Cash Flow Firm Q/Q Growth	-50.63%	-41.04%	93.27%	-13.35%	115.78%	-31.64%	0.99%	10.26%	-37.12%	124.25%	8.96%
Invested Capital Q/Q Growth	1.69%	1.11%	-3.86%	1.61%	-0.32%	-0.67%	-1.34%	0.40%	2.26%	-1.69%	-1.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	44.24%	43.35%	43.44%	43.78%	43.28%	42.00%	41.12%	39.39%	38.26%	38.58%	37.55%
EBITDA Margin	21.77%	20.76%	32.21%	22.69%	20.40%	21.29%	20.46%	18.91%	16.77%	17.10%	19.35%
Operating Margin	15.03%	14.55%	26.13%	16.48%	13.80%	14.98%	14.30%	12.58%	9.84%	10.87%	13.16%
EBIT Margin	15.38%	14.88%	26.45%	16.80%	14.14%	15.44%	14.67%	12.96%	10.21%	10.65%	13.01%
Profit (Net Income) Margin	11.00%	11.97%	18.53%	12.42%	11.10%	10.43%	10.34%	8.69%	6.67%	7.34%	9.59%
Tax Burden Percent	79.71%	89.74%	75.03%	83.80%	90.78%	76.43%	80.88%	79.44%	81.96%	83.80%	85.40%
Interest Burden Percent	89.74%	89.65%	93.34%	88.23%	86.50%	88.42%	87.20%	84.41%	79.65%	82.23%	86.36%
Effective Tax Rate	20.29%	10.26%	24.97%	16.20%	9.22%	23.57%	19.12%	20.56%	18.04%	16.20%	14.60%
Return on Invested Capital (ROIC)	12.26%	13.51%	20.24%	13.85%	12.58%	11.47%	11.25%	9.39%	7.46%	8.37%	11.34%
ROIC Less NNEP Spread (ROIC-NNEP)	11.73%	12.87%	19.62%	13.12%	11.88%	10.95%	10.65%	8.79%	6.87%	7.58%	10.44%
Return on Net Nonoperating Assets (RNNOA)	9.25%	10.36%	16.72%	12.63%	11.65%	10.89%	11.45%	10.00%	8.01%	8.55%	10.01%
Return on Equity (ROE)	21.51%	23.87%	36.96%	26.48%	24.23%	22.36%	22.70%	19.40%	15.47%	16.92%	21.35%
Cash Return on Invested Capital (CROIC)	14.56%	16.83%	18.16%	13.12%	13.37%	9.73%	9.88%	9.87%	9.93%	11.01%	-15.94%
Operating Return on Assets (OROA)	11.05%	10.59%	18.86%	12.24%	10.30%	10.92%	10.29%	8.98%	6.99%	7.08%	9.27%
Return on Assets (ROA)	7.90%	8.52%	13.21%	9.05%	8.09%	7.38%	7.26%	6.02%	4.57%	4.88%	6.84%
Return on Common Equity (ROCE)	21.45%	23.78%	36.83%	26.41%	24.17%	22.29%	22.62%	19.33%	15.42%	16.86%	21.26%
Return on Equity Simple (ROE_SIMPLE)	23.91%	0.00%	24.14%	20.90%	19.15%	0.00%	16.06%	15.80%	15.96%	0.00%	16.21%
Net Operating Profit after Tax (NOPAT)	443	523	784	550	470	451	458	385	288	335	412
NOPAT Margin	11.98%	13.06%	19.61%	13.81%	12.53%	11.45%	11.57%	10.00%	8.07%	9.11%	11.24%
Net Nonoperating Expense Percent (NNEP)	0.53%	0.64%	0.62%	0.73%	0.70%	0.53%	0.60%	0.60%	0.59%	0.79%	0.90%
Return On Investment Capital (ROIC_SIMPLE)	2.68%	3.20%	-	-	-	2.77%	-	-	-	2.11%	-
Cost of Revenue to Revenue	55.76%	56.65%	56.56%	56.22%	56.72%	58.00%	58.88%	60.61%	61.74%	61.42%	62.45%
SG&A Expenses to Revenue	28.42%	26.22%	25.63%	26.99%	28.72%	26.27%	25.89%	26.26%	27.73%	25.12%	23.90%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.22%	28.80%	17.31%	27.29%	29.48%	27.02%	26.82%	26.81%	28.41%	27.70%	24.38%
Earnings before Interest and Taxes (EBIT)	568	596	1,058	670	531	608	581	499	365	391	477
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	804	832	1,288	905	765	838	810	729	599	628	710
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.08	7.58	8.50	8.20	8.02	6.96	6.13	6.96	6.34	5.61	5.74
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.57	4.22	4.64	4.35	4.25	3.66	3.18	3.56	3.21	2.86	2.92
Price to Earnings (P/E)	34.12	31.41	35.53	39.69	42.45	40.81	38.82	44.77	40.37	37.15	35.90
Dividend Yield	0.96%	1.01%	0.89%	0.94%	0.95%	1.10%	1.26%	1.14%	1.27%	1.45%	1.44%
Earnings Yield	2.93%	3.18%	2.81%	2.52%	2.36%	2.45%	2.58%	2.23%	2.48%	2.69%	2.79%
Enterprise Value to Invested Capital (EV/IC)	5.10	4.81	5.29	4.84	4.77	4.13	3.59	3.88	3.52	3.19	3.16
Enterprise Value to Revenue (EV/Rev)	4.99	4.62	5.04	4.81	4.70	4.13	3.68	4.11	3.78	3.42	3.53
Enterprise Value to EBITDA (EV/EBITDA)	20.43	19.18	20.82	22.65	23.21	21.27	20.05	22.77	20.94	19.23	19.52
Enterprise Value to EBIT (EV/EBIT)	27.05	25.47	27.58	31.46	32.88	30.84	30.21	35.03	32.65	30.60	30.78
Enterprise Value to NOPAT (EV/NOPAT)	34.04	31.28	35.10	38.97	41.36	40.04	37.86	42.74	39.82	37.65	37.81
Enterprise Value to Operating Cash Flow (EV/OCF)	30.87	25.83	27.26	25.91	25.47	26.25	22.93	29.35	30.17	27.15	31.17
Enterprise Value to Free Cash Flow (EV/FCFF)	35.07	28.39	28.67	36.75	35.35	42.57	36.27	39.11	35.20	28.55	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.85	0.86	0.89	0.91	0.92	1.01	1.10	1.14	1.17	1.18	1.20
Long-Term Debt to Equity	0.79	0.79	0.81	0.91	0.92	0.94	0.96	0.99	1.02	1.11	1.13
Financial Leverage	0.79	0.80	0.85	0.96	0.98	0.99	1.07	1.14	1.17	1.13	0.96
Leverage Ratio	2.55	2.62	2.68	2.70	2.73	2.83	2.88	2.90	2.92	2.94	2.77
Compound Leverage Factor	2.29	2.35	2.50	2.38	2.36	2.50	2.51	2.45	2.33	2.42	2.39
Debt to Total Capital	46.09%	46.26%	47.04%	47.59%	47.83%	50.34%	52.41%	53.21%	53.98%	54.17%	54.59%
Short-Term Debt to Total Capital	3.72%	3.76%	3.97%	0.04%	0.07%	3.88%	6.87%	6.92%	6.99%	3.19%	3.19%
Long-Term Debt to Total Capital	42.37%	42.49%	43.07%	47.56%	47.75%	46.46%	45.55%	46.29%	47.00%	50.98%	51.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.17%	0.20%	0.17%	0.13%	0.13%	0.17%	0.16%	0.15%	0.13%	0.14%	0.17%
Common Equity to Total Capital	53.74%	53.55%	52.79%	52.28%	52.05%	49.49%	47.42%	46.64%	45.89%	45.69%	45.23%
Debt to EBITDA	1.99	2.00	2.01	2.27	2.40	2.75	3.12	3.23	3.30	3.40	3.40
Net Debt to EBITDA	1.68	1.66	1.67	2.16	2.25	2.44	2.75	3.03	3.14	3.16	3.35
Long-Term Debt to EBITDA	1.83	1.83	1.84	2.27	2.40	2.54	2.71	2.81	2.87	3.20	3.20
Debt to NOPAT	3.31	3.26	3.38	3.91	4.28	5.18	5.88	6.07	6.28	6.65	6.58
Net Debt to NOPAT	2.81	2.71	2.82	3.71	4.00	4.59	5.20	5.68	5.97	6.19	6.50
Long-Term Debt to NOPAT	3.05	2.99	3.10	3.91	4.27	4.78	5.11	5.28	5.47	6.26	6.20
Altman Z-Score	4.80	4.50	4.88	4.73	4.60	3.95	3.51	3.72	3.41	3.11	3.17
Noncontrolling Interest Sharing Ratio	0.28%	0.35%	0.33%	0.28%	0.26%	0.33%	0.36%	0.33%	0.31%	0.35%	0.40%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.32	1.26	1.30	1.50	1.41	1.30	1.26	1.22	1.17	1.30	1.35
Quick Ratio	0.87	0.86	0.88	0.85	0.88	0.86	0.83	0.75	0.69	0.78	0.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	375	760	1,289	667	770	357	522	517	469	746	-3,075
Operating Cash Flow to CapEx	170.78%	218.00%	332.50%	314.84%	323.41%	325.13%	475.66%	340.90%	117.35%	425.35%	227.69%
Free Cash Flow to Firm to Interest Expense	6.44	12.32	18.32	8.47	10.75	5.07	7.03	6.64	6.32	10.73	-47.23
Operating Cash Flow to Interest Expense	6.34	12.43	11.17	7.76	9.07	12.11	10.60	7.37	2.67	12.36	6.71
Operating Cash Flow Less CapEx to Interest Expense	2.63	6.73	7.81	5.29	6.27	8.38	8.37	5.21	0.39	9.46	3.76
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.72	0.71	0.71	0.73	0.73	0.71	0.70	0.69	0.68	0.67	0.71
Accounts Receivable Turnover	5.56	5.52	5.49	5.53	5.68	5.54	5.44	5.42	5.60	5.48	5.45
Inventory Turnover	5.67	6.01	5.74	5.70	5.51	5.57	5.47	5.40	5.40	5.38	5.42
Fixed Asset Turnover	4.34	4.36	4.56	4.64	4.58	4.53	4.57	4.48	4.39	4.31	4.39
Accounts Payable Turnover	5.24	5.27	5.38	5.67	5.90	5.56	5.92	6.05	6.19	5.67	6.11
Days Sales Outstanding (DSO)	65.67	66.07	66.44	66.03	64.22	65.90	67.14	67.34	65.18	66.59	67.03
Days Inventory Outstanding (DIO)	64.33	60.74	63.63	64.03	66.21	65.59	66.77	67.62	67.54	67.88	67.35
Days Payable Outstanding (DPO)	69.69	69.24	67.78	64.34	61.86	65.67	61.66	60.29	58.92	64.32	59.74
Cash Conversion Cycle (CCC)	60.30	57.58	62.29	65.72	68.57	65.81	72.25	74.68	73.80	70.14	74.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	15,353	15,097	14,932	15,531	15,286	15,335	15,437	15,648	15,585	15,240	15,502
Invested Capital Turnover	1.02	1.03	1.03	1.00	1.00	1.00	0.97	0.94	0.92	0.92	1.01
Increase / (Decrease) in Invested Capital	67	-237	-506	-117	-300	94	-64	-132	-181	-411	3,487
Enterprise Value (EV)	78,223	72,690	79,035	75,147	72,919	63,299	55,445	60,677	54,798	48,563	48,947
Market Capitalization	71,745	66,350	72,651	67,966	65,839	56,009	47,803	52,586	46,557	40,559	40,508
Book Value per Share	$31.36	$30.93	$30.04	$29.02	$28.72	$28.21	$27.35	$26.54	$25.82	$25.41	$24.78
Tangible Book Value per Share	($7.84)	($8.68)	($9.25)	($10.04)	($11.62)	($12.61)	($13.44)	($14.57)	($15.24)	($15.65)	($16.12)
Total Capital	16,516	16,354	16,193	15,853	15,766	16,254	16,439	16,202	16,005	15,839	15,615
Total Debt	7,612	7,565	7,618	7,545	7,540	8,182	8,616	8,622	8,640	8,580	8,525
Total Long-Term Debt	6,998	6,949	6,975	7,539	7,529	7,551	7,487	7,500	7,522	8,075	8,027
Net Debt	6,449	6,308	6,356	7,161	7,060	7,262	7,615	8,067	8,220	7,982	8,412
Capital Expenditures (CapEx)	216	352	237	194	201	262	166	168	169	202	192
Debt-free, Cash-free Net Working Capital (DFCFNWC)	924	592	791	1,527	1,042	1,009	1,317	1,537	1,482	1,190	1,712
Debt-free Net Working Capital (DFNWC)	2,086	1,849	2,052	1,911	1,522	1,929	2,318	2,091	1,901	1,789	1,825
Net Working Capital (NWC)	1,472	1,233	1,409	1,905	1,511	1,298	1,189	969	783	1,284	1,327
Net Nonoperating Expense (NNE)	36	44	43	55	54	40	48	50	50	65	60
Net Nonoperating Obligations (NNO)	6,449	6,308	6,356	7,223	7,060	7,262	7,615	8,067	8,220	7,982	8,412
Total Depreciation and Amortization (D&A)	236	236	230	235	235	231	229	229	234	237	233
Debt-free, Cash-free Net Working Capital to Revenue	5.89%	3.76%	5.05%	9.76%	6.72%	6.59%	8.75%	10.41%	10.23%	8.39%	12.33%
Debt-free Net Working Capital to Revenue	13.30%	11.74%	13.09%	12.22%	9.82%	12.59%	15.40%	14.16%	13.12%	12.61%	13.15%
Net Working Capital to Revenue	9.38%	7.83%	8.99%	12.18%	9.75%	8.47%	7.90%	6.56%	5.40%	9.05%	9.56%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.42	$1.67	$2.60	$1.72	$1.44	$1.42	$1.42	$1.16	$0.82	$0.93	$1.22
Adjusted Weighted Average Basic Shares Outstanding	283.40M	284.30M	283.60M	284.60M	285.70M	285M	285.10M	284.90M	284.60M	285.20M	284.90M
Adjusted Diluted Earnings per Share	$1.41	$1.65	$2.58	$1.71	$1.43	$1.41	$1.41	$1.15	$0.82	$0.92	$1.21
Adjusted Weighted Average Diluted Shares Outstanding	285.30M	286.60M	286M	287M	287.80M	286.50M	286.90M	286.30M	285.90M	286.60M	286.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	283.51M	283.00M	283.16M	284.54M	285.57M	285.51M	285.14M	285.03M	284.72M	284.46M	284.83M
Normalized Net Operating Profit after Tax (NOPAT)	466	616	534	561	496	473	487	402	308	414	428
Normalized NOPAT Margin	12.61%	15.37%	13.36%	14.07%	13.21%	12.02%	12.32%	10.43%	8.63%	11.28%	11.66%
Pre Tax Income Margin	13.80%	13.34%	24.69%	14.82%	12.23%	13.65%	12.79%	10.94%	8.13%	8.76%	11.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.75	9.66	15.02	8.50	7.41	8.63	7.81	6.42	4.92	5.63	7.33
NOPAT to Interest Expense	7.59	8.48	11.14	6.99	6.57	6.41	6.16	4.95	3.88	4.81	6.34
EBIT Less CapEx to Interest Expense	6.04	3.96	11.66	6.03	4.60	4.91	5.58	4.25	2.64	2.72	4.39
NOPAT Less CapEx to Interest Expense	3.88	2.78	7.77	4.52	3.76	2.68	3.93	2.79	1.61	1.91	3.39
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	32.10%	31.16%	31.87%	37.50%	40.39%	44.31%	49.56%	51.18%	51.74%	54.36%	51.10%
Augmented Payout Ratio	76.58%	77.43%	79.65%	67.65%	53.09%	45.30%	56.32%	61.76%	74.49%	101.09%	92.52%

Frequently Asked Questions About Ecolab's Financials

When does Ecolab's fiscal year end?

According to the most recent income statement we have on file, Ecolab's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Ecolab's net income changed over the last 9 years?

Ecolab's net income appears to be on an upward trend, with a most recent value of $2.13 billion in 2024, rising from $1.02 billion in 2015. The previous period was $1.39 billion in 2023. See Ecolab's forecast for analyst expectations on what’s next for the company.

What is Ecolab's operating income?

Ecolab's total operating income in 2024 was $2.80 billion, based on the following breakdown:

Total Gross Profit: $6.84 billion
Total Operating Expenses: $4.04 billion

How has Ecolab revenue changed over the last 9 years?

Over the last 9 years, Ecolab's total revenue changed from $13.55 billion in 2015 to $15.74 billion in 2024, a change of 16.2%.

How much debt does Ecolab have?

Ecolab's total liabilities were at $13.60 billion at the end of 2024, a 1.3% decrease from 2023, and a 16.6% increase since 2015.

How much cash does Ecolab have?

In the past 9 years, Ecolab's cash and equivalents has ranged from $92.80 million in 2015 to $1.26 billion in 2020, and is currently $1.26 billion as of their latest financial filing in 2024.

How has Ecolab's book value per share changed over the last 9 years?

Over the last 9 years, Ecolab's book value per share changed from 23.40 in 2015 to 30.93 in 2024, a change of 32.2%.

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This page (NYSE:ECL) was last updated on 5/29/2025 by MarketBeat.com Staff

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Ecolab (ECL) Financials

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Ecolab (ECL) Financials

Annual Income Statements for Ecolab

Quarterly Income Statements for Ecolab

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Quarterly Cash Flow Statements for Ecolab

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Quarterly Balance Sheets for Ecolab

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Quarterly Metrics And Ratios for Ecolab

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