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Not Investment Advice

ECL

NYSE · USD
Ecolab Inc.
Basic Materials · Chemicals - Specialty
CEO Christophe Beck Employees 48,000 R&D / revenue 0.0%
Last price
$288.89−0.66%last session
Market cap
$81.0B
P/E (TTM)
38.5x
From 52w high
−6.6%
From 52w low
+18.8%
1-year return
+7.0%
RSI 14 · vs SMA200
63.3 · +5.2%
IS score
58.4/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

ECL   SPY   XLB (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26XLB 118SPY 116ECL 107

Score DNA

Each bar is a 0-100 score within the scored universe
59
Profitability
45
Growth
37
Value
74
Momentum
100
Risk (safety)
68
Quality
64
Balance sheet
72
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
None of the computed warning flags fires for ECL (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Switching CostsPiotroski 5 / 9Altman Z 4.1Beta 0.894 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
6
$3.74M bought
Form 144 notices (12m): 15, $29.9M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+17
147 new holders, 112 closed
1,723 filers hold 81.0% · 620 added, 691 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+248
1,273 funds adding shares
1,025 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
36.8%
20-day avg 48.0%, 50-day avg 50.9%
Latest 11.2 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$16.1B
Revenue growth YoY+2.2%
Gross margin44.5%
Operating income$2.9B
Operating margin18.1%
Net income$2.1B
Net margin12.9%
EPS (diluted)$7.28
Cash flow
Operating cash flow$3.0B
Capital expenditure$1.0B
Free cash flow$1.9B
FCF conversion (FCF / OCF)64.5%
Stock-based compensation$136.6M
FCF less SBC$1.8B
Buybacks$783.8M
Dividends$753.6M
Balance sheet & returns
Cash & short-term investments$646.2M
Total debt$8.8B
Net debt$8.2B
Shareholders' equity$9.8B
Goodwill & intangibles$12.9B
Debt / equity1.37
ROE (TTM)21.4%
ROIC (TTM)9.4%
Operating margin by fiscal year
13.2%FY202111.3%FY202214.1%FY202316.6%FY202417.7%FY2025
Revenue $12.7B (FY2021) to $16.1B (FY2025), a 6.0% CAGR.

Valuation

P/E (TTM)38.5x
EV / EBITDA24.9x
Price / sales4.81x
Price / FCF43.2x
FCF yield2.31%
Buyback yield0.97%
SBC / revenue0.8%
Price / book8.08x
Forward P/E FY202635.4x
Forward P/E FY202730.8x
Forward P/E FY202827.0x
Forward multiples divide today's price by Street EPS estimates. Street mean target $335.60 across 5 analysts last quarter is theirs, not ours.

ECL vs industry median

207 companies in Chemicals - Specialty
Gross margin 44.1% 28.5% Operating margin 17.4% 7.9% Net margin 12.6% 3.3% ROIC 9.4% 6.4%
ECL (TTM)Industry median Asset turnover 0.56 vs industry 0.70 · financial leverage 2.98

Earnings delivery

Next report 2026-10-27 · consensus EPS $2.17
50%
beat rate, 6 of 12 quarters
+0.2%
median EPS surprise
3
longest beat streak
+2+1+1+0+1+1+0+0-1+0+0+0
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-08-01 to 2026-04-28. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
ECL Ecolab Inc. $81.0B38.5x21.4%12.6%+2.2% +7.0%
SHW The Sherwin-Williams Company $81.4B30.6x65.1%12.4%+5.8% +1.3%
APD Air Products and Chemicals, $66.7Bn/m-0.3%-45.6%+4.5% +18.3%
LIN Linde plc $229.8B32.0x18.8%20.8%+6.6% +12.6%
PPG PPG Industries, Inc. $23.9B15.3x19.6%9.7%+12.3% +7.1%
IFF International Flavors & Frag $23.1B83.2x2.0%2.6%−11.7% —
LYB LyondellBasell Industries N. $20.7Bn/m-3.1%6.1%−11.3% —
SQM Sociedad Química y Minera d $17.2B12.5x23.9%26.7%+59.3% —
12-month window: SPY +15.9%, sector ETF XLB +17.8%. Past returns describe history only.

Recent 8-K filings

2026-07-28Earnings Release; Exhibits
2026-05-29Other Events; Exhibits
2026-04-28Earnings Release; Exhibits
2026-04-15Material Agreement; Financial Obligation; Exhibits
2026-03-27Earnings Release; Exhibits
2026-02-25Departure/Election of Directors; Appointment of Officers; Financial Statements and Exhibits

Context

Shares outstanding280,329,000
Free float89.4%
Institutional ownership81.0%
Beta0.89
Dividend yield1.01%
Last dividend$0.73 on 2026-09-15
50 / 200-day average$279.62 / $274.69
Large-cap Basic Materials median P/E30.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where ECL sits among 43 scored companies in Chemicals - Specialty (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureECLIndustry medianIndustry percentileSector median
P/E (TTM) 38.3x 28.9x
76th		 19.5x
PEG (P/E ÷ 3-yr EPS CAGR) 1.73 2.33
29th		 0.89
Price / sales 4.8x 1.5x
88th		 1.9x
Price / book 8.1x 2.4x
92nd		 2.3x
Price / tangible book —
Price / free cash flow 43.2x 18.0x
89th		 16.3x
Price / operating cash flow 26.5x 11.4x
90th		 9.6x
Enterprise value $89.6B $5.0B
95th		 $5.4B
EV / sales 5.3x 1.9x
90th		 2.0x
EV / EBITDA 24.9x 12.3x
89th		 10.8x
EV / EBIT 31.1x 23.2x
80th		 14.7x
EV / free cash flow 47.8x 29.7x
78th		 21.6x
Earnings yield 2.6% 2.2%
55th		 3.9%
FCF yield 2.3% 3.9%
24th		 4.3%
Operating cash flow yield 3.8% 7.8%
14th		 9.8%
Graham number (per share) $77.35 $51.61
84th		 $36.55

Profitability (TTM)

MeasureECLIndustry medianIndustry percentileSector median
Gross margin 44.1% 29.4%
90th		 32.1%
EBITDA margin 21.4% 15.0%
88th		 19.0%
Operating margin 17.4% 9.7%
85th		 13.8%
EBIT margin 17.1% 8.7%
85th		 12.3%
Net margin 12.6% 4.8%
88th		 6.8%
NOPAT margin 14.1% 7.6%
83rd		 10.1%
FCF margin 11.1% 8.0%
71st		 6.4%
Operating cash flow margin 18.1% 11.6%
76th		 15.6%
R&D / revenue 0.0% 0.5%
0th		 0.0%
SG&A / revenue 26.0% 12.8%
85th		 9.4%
Stock comp / revenue 0.8% 0.5%
73rd		 0.4%
Effective tax rate 18.9% 21.0%
12th		 22.5%

Returns on capital

MeasureECLIndustry medianIndustry percentileSector median
ROE (on average equity) 21.8% 7.2%
88th		 12.1%
ROA 7.9% 2.9%
79th		 5.0%
ROIC 12.7% 6.5%
79th		 9.8%
ROCE 12.0% 6.0%
74th		 9.7%
Return on tangible assets 10.7% 4.9%
76th		 8.5%
Cash ROIC (OCF / invested capital) 16.4% 13.6%
69th		 14.9%
Gross profitability (GP / assets) 24.8% 16.9%
81st		 17.5%
ROIC, 3-yr average 13.1% 3.9%
90th		 6.5%
ROIC, 5-yr average 14.0% 6.9%
85th		 8.1%
ROE, 5-yr average 19.2% 9.1%
84th		 9.1%
Incremental ROIC 11.6% 0.7%
55th		 28.3%

Growth

MeasureECLIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.1% 3.5%
63rd		 9.7%
Revenue growth (QoQ) 8.6% 13.2%
31st		 9.5%
Revenue CAGR, 3 yr 4.5% -0.6%
77th		 2.3%
Revenue CAGR, 5 yr 6.8% 4.4%
68th		 7.3%
Gross profit CAGR, 3 yr 9.3% 0.3%
85th		 5.4%
Operating income CAGR, 3 yr 16.1% 6.2%
82nd		 7.8%
Net income growth (TTM YoY) -0.9% 5.6%
33rd		 45.4%
Net income CAGR, 3 yr 21.7% 6.0%
91st		 7.3%
EPS growth (TTM YoY) -0.0% 7.7%
33rd		 44.1%
EPS CAGR, 3 yr 22.2% 8.0%
91st		 8.0%
EPS CAGR, 5 yr 15.5% 6.1%
83rd		 11.5%
FCF growth (TTM YoY) 19.1% 12.6%
56th		 19.4%
FCF CAGR, 3 yr 12.2% 5.9%
64th		 3.8%
Operating cash flow CAGR, 3 yr 13.9% 1.1%
74th		 7.7%
Book value CAGR, 3 yr 10.4% 1.9%
77th		 6.5%
Dividend CAGR, 3 yr 4.7% 2.1%
84th		 2.6%
Sustainable growth rate 13.6% 11.5%
68th		 13.5%

Margin history & stability

MeasureECLIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 43.6% 28.9%
92nd		 29.8%
Operating margin, 3-yr average 16.7% 10.3%
85th		 12.0%
Net margin, 3-yr average 12.4% 3.7%
90th		 6.3%
FCF margin, 3-yr average 11.5% 6.3%
85th		 7.1%
Revenue stability (0-1) 0.94 0.52
90th		 0.60
Earnings stability (0-1) 0.90 0.42
90th		 0.41
Margin stability (0-1) 0.95 0.89
78th		 0.83

Liquidity (latest quarter)

MeasureECLIndustry medianIndustry percentileSector median
Cash & short-term investments $5.1B $189.6M
100th		 $245.7M
Net cash (− = net debt) −$8.6B −$968.6M
10th		 −$465.1M
Working capital $5.0B $530.0M
100th		 $531.5M
Current ratio 1.84 1.84
50th		 2.08
Quick ratio 1.57 1.16
69th		 1.42
Cash ratio (cash + ST investments / current liabilities) 0.86 0.30
83rd		 0.45
Defensive interval (days) 696 days 609 days
61st		 773 days

Leverage & solvency (latest quarter)

MeasureECLIndustry medianIndustry percentileSector median
Total debt $13.8B $1.3B
90th		 $807.4M
Debt / equity 1.37 0.79
82nd		 0.50
Net debt / equity 0.86 0.60
70th		 0.30
Debt / assets 46.0% 33.1%
79th		 24.4%
Debt / capital 57.8% 44.1%
82nd		 33.5%
Debt / EBITDA 3.82 3.76
57th		 1.80
Net debt / EBITDA 2.39 2.94
34th		 1.17
Interest coverage (EBIT / interest) 9.5x 3.1x
78th		 6.7x
Cash interest coverage 10.1x 6.2x
78th		 7.7x
Debt payback (years of OCF) 4.5 yrs 4.4 yrs
52nd		 2.6 yrs
Liabilities / assets 66.3% 56.9%
71st		 47.8%
IS credit model rating A — —
Implied credit spread (bps) 150 350
21st		 162

Efficiency

MeasureECLIndustry medianIndustry percentileSector median
Asset turnover 0.63 0.68
40th		 0.66
Fixed asset turnover 3.24 2.14
69th		 1.53
Inventory turnover 5.9 4.6
71st		 4.9
Receivables turnover 5.2 6.4
24th		 8.7
Days sales outstanding 71 days 57 days
76th		 42 days
Days inventory outstanding 62 days 80 days
29th		 74 days
Days payables outstanding 78 days 51 days
83rd		 49 days
Cash conversion cycle (days) 55 days 88 days
31st		 61 days
Capex / revenue 7.0% 5.1%
71st		 7.8%
Capex / depreciation 1.63 0.94
88th		 1.09
Operating expense ratio 26.9% 20.4%
76th		 11.3%

Cash flow & earnings quality

MeasureECLIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.44 1.45
48th		 1.55
FCF / net income 0.89 1.09
28th		 0.89
FCF / operating cash flow 61.3% 60.8%
51st		 52.6%
Capex / operating cash flow 38.7% 39.2%
49th		 47.0%
Accruals ratio -3.5% -6.8%
74th		 -5.6%
Sloan accruals ratio 8.0% -4.9%
95th		 -3.6%
Earnings quality score (0-1) 1.00 1.00
40th		 0.75

Dividends & buybacks

MeasureECLIndustry medianIndustry percentileSector median
Dividend yield 1.0% 1.4%
38th		 0.9%
Dividend per share (TTM) $2.92 $0.97
83rd		 $0.40
Payout ratio (dividends / net income) 37.7% 37.1%
52nd		 18.3%
Dividends / FCF 42.6% 25.9%
69th		 17.9%
Dividend growth (YoY) 14.4% 3.4%
91st		 4.2%
Buyback yield 0.6% 0.5%
55th		 0.2%
Shareholder yield (dividends + buybacks) 1.6% 2.5%
31st		 2.3%
Share count change (YoY) -0.9% 0.0%
32nd		 0.0%
Buybacks, last 5 years $1.7B $90.1M
93rd		 $35.6M

Scores & forensic checks

MeasureECLIndustry medianIndustry percentileSector median
IS score 58 45
74th		 57
IS profitability 59 29
88th		 44
IS growth 45 50
39th		 59
IS value 37 47
21st		 54
IS momentum 74 69
63rd		 78
IS risk (safety) 100 65
79th		 80
IS quality 68 61
69th		 70
IS balance sheet 64 49
79th		 65
IS earnings quality 72 66
67th		 71
IS cash flow 60 51
76th		 49
Piotroski F-score (0-9) 5 5
29th		 6
Altman Z-score 4.1 2.5
81st		 3.1
Beneish M-score −2.52 −2.64
73rd		 −2.55
Ohlson O-score −7.79 −7.29
36th		 −8.14
IS credit score 74 54
76th		 70

Per share

MeasureECLIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $7.48 $1.54
93rd		 $1.57
Book value per share $35.54 $26.43
64th		 $16.95
Tangible book per share −$9.90 $4.59
5th		 $8.43
Revenue per share $59.54 $43.37
64th		 $31.21
FCF per share $6.63 $2.63
79th		 $1.99
Operating cash flow per share $10.81 $5.86
88th		 $4.23
Cash per share $18.15 $2.95
100th		 $2.16

Size (TTM)

MeasureECLIndustry medianIndustry percentileSector median
Market cap $81.0B $3.6B
95th		 $4.7B
Revenue $16.8B $2.4B
93rd		 $2.5B
EBITDA $3.6B $241.5M
93rd		 $488.0M
Net income $2.1B $89.2M
95th		 $137.1M
Free cash flow $1.9B $131.6M
88th		 $142.7M
Total assets $29.9B $3.5B
93rd		 $3.8B
Shareholders' equity $10.1B $1.4B
88th		 $1.6B
Employees 48,000 4,064
95th		 4,067

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Ballard Shari L
Director
 Award / grant 131——9,842
2026-09-30Ballard Shari L
Director
 Award / grant 131$276.36$36,2529,973
2026-09-30Althoff Judson
Director
 Award / grant 131——1,407
2026-09-30Mckibben Tracy B
Director
 Award / grant 131——11,821
2026-09-30Maclennan David
Director
 Award / grant 131——25,579
2026-09-30Maclennan David
Director
 Award / grant 46$276.36$12,81225,625
2026-09-30Larson Michael
Director
 Award / grant 131——19,326
2026-09-30Gross Marion K.
Director
 Award / grant 131——730
2026-09-30Green Eric Mark
Director
 Award / grant 131——8,089
2026-09-30Green Eric Mark
Director
 Award / grant 145$276.36$40,0028,234
2026-09-30Doukeris Michel D
Director
 Award / grant 131——8,590
2026-09-30Zillmer John J
Director
 Award / grant 131——49,540

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired4313,099$2.5M
Open-market buyAcquired614,240$3.7M
Open-market saleDisposed536,790$10.1M
Option exerciseDisposed530,825$1.9M
Option exerciseAcquired530,825$1.9M
Tax withholdingDisposed37,769$2.1M
—Disposed45,248$617,584
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 15 notices · 105,489 shares · $29.9M
FiledFilerShares proposedEst. proceeds
2026-08-18Christophe Beck17,862$4.9M
2026-08-11Cook Gregory B4,567$1.3M
2026-08-07Bradway Jennifer J.1,765$500,307
2026-07-30Kirkland Scott D.3,357$952,381
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 7 trades (4 purchases) · Senate 3 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-05-15John BoozmanSenateSale$1,001 - $15,0002026-06-16
2026-05-15John BoozmanSenateSale (Partial)$1,001 - $15,0002026-06-15
2026-05-15John BoozmanSenateSale (Partial)$1,001 - $15,0002026-06-15
2026-05-01Ro KhannaHousePurchase$1,001 - $15,0002026-06-11
2026-04-13Ro KhannaHousePurchase$1,001 - $15,0002026-05-13
2025-02-26John BoozmanSenatePurchase$1,001 - $15,0002025-03-06
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.23,051,363$6.4B8.22%
VANGUARD CAPITAL MANAGEMENT LLC16,537,270$4.6B5.90%
STATE STREET CORP11,770,714$3.3B4.20%
JPMORGAN CHASE & CO11,330,314$3.2B4.04%
VANGUARD PORTFOLIO MANAGEMENT LLC6,300,975$1.8B2.25%
GEODE CAPITAL MANAGEMENT, LLC5,996,032$1.7B2.14%
MORGAN STANLEY4,909,345$1.4B1.75%
ROYAL BANK OF CANADA3,611,647$1.0B1.29%
Aristotle Capital Management, LLC3,516,811$979.8M1.25%
NORGES BANK3,350,825$933.6M1.20%
Capital Research Global Investors2,863,333$797.8M1.02%
Invesco Ltd.2,711,224$755.4M0.97%
FRANKLIN RESOURCES INC2,510,305$699.4M0.90%
Pictet Asset Management Holding SA2,501,585$697.0M0.89%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP2,293,546$639.0M0.82%

Institutional ownership by quarter

2023-092026-0681.0%
% of shares held by 13F filers
2023-092026-061,723
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,72381.0%147620691112
2026-03-311,70678.8%154648643106
2025-12-311,68480.8%19258264499
2025-09-301,62378.8%119630592101
2025-06-301,63481.1%139617606107
2025-03-311,62180.2%15656564684
2024-12-311,56778.9%190559558102
2024-09-301,50377.3%12452558266
2024-06-301,46177.4%12155053671
2024-03-311,42877.6%15646557174
2023-12-311,36676.9%19244553169
2023-09-301,26276.7%96490452105

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-16SCHEDULE 13GJPMORGAN CHASE & CO5.1%14,448,038
2026-04-29SCHEDULE 13GVanguard Capital Management6.7%19,004,742
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.09%$2.2B
VSMPX0.09%$2.2B
VTSAX0.09%$2.2B
VTI0.09%$2.2B
VOO0.11%$1.8B
VFINX0.11%$1.8B

Share structure

Shares outstanding280,329,000
Float250,750,086
Free float89.4%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$12.7B$14.2B$15.3B$15.7B$16.1B
Cost of revenue$7.5B$8.8B$9.1B$8.9B$8.9B
Gross profit$5.2B$5.4B$6.2B$6.8B$7.2B
R&D$186.0M$190.0M$192.0M$207.0M$0
SG&A$3.4B$3.6B$3.8B$4.0B$4.3B
Operating income$1.7B$1.6B$2.2B$2.6B$2.9B
EBITDA$2.5B$2.5B$3.0B$3.8B$3.5B
Pretax income$1.4B$1.3B$1.8B$2.6B$2.5B
Income tax$270.2M$234.5M$362.5M$439.3M$454.6M
Net income$1.1B$1.1B$1.4B$2.1B$2.1B
EPS, diluted$3.91$3.81$4.79$7.37$7.28
Diluted shares289.1M286.6M286.5M286.6M285.2M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$359.9M$598.6M$919.5M$1.3B$646.2M
Receivables$2.6B$2.9B$3.0B$3.0B$3.2B
Inventory$1.5B$1.8B$1.5B$1.5B$1.5B
Total current assets$4.7B$5.5B$5.6B$6.0B$6.0B
PP&E, net$3.7B$3.7B$4.0B$4.5B$5.0B
Goodwill & intangibles$12.3B$11.7B$11.6B$11.2B$12.9B
Total assets$21.2B$21.5B$21.8B$22.4B$24.7B
Accounts payable$1.4B$1.7B$1.6B$1.8B$2.1B
Total current liabilities$3.6B$4.2B$4.3B$4.8B$5.5B
Long-term debt$8.3B$8.1B$7.6B$6.9B$8.0B
Total liabilities$14.0B$14.2B$13.8B$13.6B$14.9B
Shareholders' equity$7.3B$7.3B$8.1B$8.8B$9.8B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.1B$1.1B$1.4B$2.1B$2.1B
Depreciation & amortization$843.1M$938.7M$923.6M$935.4M$672.6M
Stock-based compensation$89.5M$87.8M$95.1M$134.8M$136.6M
Change in working capital$600,000−$276.7M$162.7M$176.1M−$206.2M
Operating cash flow$2.1B$1.8B$2.4B$2.8B$3.0B
Capital expenditure−$643.0M−$712.8M−$774.8M−$994.5M−$1.0B
Free cash flow$1.4B$1.1B$1.6B$1.8B$1.9B
Investing cash flow−$4.6B−$716.8M−$990.5M−$433.8M−$2.7B
Net debt issued / repaid$2.1B$89.7M−$501.9M−$628.5M$469.6M
Buybacks−$106.6M−$518.2M−$13.7M−$986.5M−$783.8M
Dividends paid−$566.4M−$602.8M−$617.3M−$664.3M−$753.6M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin41.0%38.2%40.3%43.5%44.5%
Operating margin13.2%11.3%14.1%16.6%17.7%
Net margin8.9%7.7%9.0%13.4%12.9%
FCF margin11.1%7.6%10.7%11.6%11.8%
ROE16.9%15.1%18.0%25.1%22.4%
ROIC8.5%8.5%10.8%13.7%12.6%
ROA5.7%5.1%6.3%9.6%8.8%
Debt / equity1.271.251.090.950.97
Interest coverage7.8x6.0x5.9x8.6x9.2x
Current ratio1.321.301.301.261.08
Revenue growth+8.0%+11.4%+8.0%+2.7%+2.2%
EPS growth+193.5%−2.1%+25.1%+54.7%−1.2%
P/E at year end57.4x36.9x40.7x31.4x35.9x
EV / EBITDA at year end29.2x19.1x21.0x19.1x23.9x
FCF yield at year end2.19%2.67%2.93%2.75%2.55%
Dividend payout50.1%55.2%45.0%31.4%36.3%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Global Water————$8.0B
Global Industrial$6.3B$6.7B$7.2B$7.9B—
Global Institutional and Specialty$4.0B$4.5B$5.0B$5.4B$6.1B
Global Healthcare and Life Sciences$1.2B$1.6B$1.6B$1.4B—
Other$1.2B$1.4B$1.4B——
Global Pest Elimination———$1.2B$1.2B
Global Life Sciences————$747.9M

Revenue by region · FY2025

UNITED STATES$8.5B · 53%
Europe$3.3B · 20%
Asia Pacific$1.4B · 8%
Latin America$1.1B · 7%
C [N]$722.4M · 4%
Middle East And Africa$638.2M · 4%
Canada$499.4M · 3%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $2.17 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$17.9B$17.8B – $18.1B$8.15$8.13 – $8.191435.4x
2027$19.3B$18.1B – $19.7B$9.38$8.99 – $9.631330.8x
2028$20.4B$19.8B – $20.9B$10.71$10.23 – $11.38527.0x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-04-28$1.70$1.700.0%$4.0B$4.1B+1.0%
2026-02-10$2.07$2.08+0.5%$4.2B$4.2B+0.1%
2025-10-28$2.07$2.070.0%$4.1B$4.2B+1.1%
2025-07-29$1.90$1.89−0.5%$4.0B$4.0B+0.1%
2025-04-29$1.50$1.500.0%$3.7B$3.7B−0.0%
2025-02-11$1.81$1.810.0%$4.0B$4.0B+0.5%
2024-10-29$1.82$1.83+0.5%$4.0B$4.0B−0.8%
2024-07-30$1.67$1.68+0.6%$4.0B$4.0B−1.2%
2024-04-30$1.34$1.340.0%$3.7B$3.8B+0.2%
2024-02-13$1.54$1.55+0.6%$3.9B$3.9B+0.1%
2023-10-31$1.52$1.54+1.3%$4.0B$4.0B−1.2%
2023-08-01$1.21$1.24+2.5%$3.9B$3.9B−0.2%
2023-05-02$0.86$0.88+2.3%$3.5B$3.6B+2.8%
2023-02-14$1.25$1.27+1.6%$3.7B$3.7B−0.9%
2022-11-01$1.31$1.30−0.8%$3.7B$3.7B+0.3%
2022-07-26$1.09$1.10+0.9%$3.5B$3.6B+2.7%
2022-04-26$0.82$0.820.0%$3.2B$3.3B+2.4%
2022-02-15$1.31$1.28−2.3%$3.4B$3.4B+0.1%
2021-10-26$1.30$1.41+8.5%$3.3B$3.3B+0.8%
2021-07-27$1.21$1.22+0.8%$3.3B$3.2B−4.1%
2021-04-27$0.82$0.81−1.2%$2.9B$2.9B−0.5%
2021-02-16$1.25$1.23−1.6%$3.1B$3.1B−1.6%
2020-10-27$1.09$1.15+5.5%$2.9B$3.0B+2.7%
2020-07-28$0.83$0.65−21.7%$3.5B$2.7B−23.5%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.506-150.606-220.406-290.407-060.407-130.407-200.707-270.508-030.408-100.808-170.608-240.408-31
Week ofNotionalSharesTrades
2026-08-31$439.4M1,564,37862,264
2026-08-24$589.1M2,047,75874,757
2026-08-17$754.3M2,684,89282,495
2026-08-10$354.7M1,266,46755,912
2026-08-03$532.1M1,888,84472,685
2026-07-27$682.4M2,451,37882,041

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1536.8%
DateShort shareShort volumeTotal volume
2026-10-1536.8%286,188778,521
2026-10-1428.0%130,789467,935
2026-10-1329.6%140,613474,840
2026-10-1253.6%182,971341,666
2026-10-0952.0%167,676322,753
2026-10-0842.2%160,661380,771
2026-10-0749.9%226,484453,911
2026-10-0641.0%195,476476,682
2026-10-0551.6%174,442338,006
2026-10-0245.5%211,886465,765
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.4Jan+0.6Feb+0.8Mar+3.5Apr+1.0May+1.2Jun+0.5Jul+1.7Aug+0.7Sep-0.4Oct+3.5Nov+0.1Dec
MonthAvg returnUp yearsYears
Jan−0.4%45%20
Feb+0.6%50%20
Mar+0.8%67%21
Apr+3.5%65%20
May+1.0%60%20
Jun+1.2%55%20
Jul+0.5%50%20
Aug+1.7%60%20
Sep+0.7%50%20
Oct−0.4%45%20
Nov+3.5%75%20
Dec+0.1%50%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1463.3
MFI57.7
ADX19.3
Stochastic %K / %D84.7 / 90.0
Williams %R-25.2
CCI156
TSI / signal17.1 / 5.5
Chaikin money flow0.07
ATR$5.55
Bollinger width8.0%
Volume vs 20-day avg1.85x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$279.61 (+3.3%)
SMA 50$279.60 (+3.3%)
SMA 200$274.70 (+5.2%)
EMA 21$281.36 (+2.7%)
EMA 50$278.85 (+3.6%)
EMA 200$273.31 (+5.7%)
Bollinger upper$290.72 (−0.6%)
Bollinger lower$268.50 (+7.6%)
Parabolic SAR$275.94 (+4.7%)
Open the live chart, 110+ indicators

About Ecolab Inc.

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.

https://www.ecolab.com

Key executives

NameTitlePayBorn
Christophe BeckCEO, President & Chairman of the Board$5.2M1968
Darrell R. BrownCo-Chief Operating Officer of Global Markets$2.4M1964
Scott D. KirklandChief Financial Officer$2.2M1974
Gregory Russell CookCo-Chief Operating Officer of Global Businesses$1.6M1969
Margeaux KingExecutive Vice President of Human Resources$1.1M1978
Bryce L. MewhorterSenior Vice President, Corporate Controller & Principal Accounting Officer—1975
Dan D. LeClouxExecutive VP & Chief Technical Officer——
Jandeen BooneExecutive Vice President, General Counsel, Secretary & Interim Chief Compliance Officer—1974

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Christophe Beck Chairman and Chief Executive Officer2025$1.4M$7.2M$3.4M$17.4M
Darrell R. Brown President and Chief Operating Officer2025$856,727$1.9M$1.3M$5.6M
Scott D. Kirkland Chief Financial Officer2025$856,727$1.7M$1.3M$5.2M
Margeaux M. King Executive Vice President, Human Resources2025$545,769$2.7M$534,054$4.7M
Gregory B. Cook Executive Vice President and President − Institutional Group2025$632,100$963,623$841,721$3.4M

Employees

49k201850k201944k202047k202147k202248k202348k202448k2025

Dividends

Ex-dateAmountPaid
2026-09-15$0.732026-10-15
2026-06-16$0.732026-07-15
2026-03-17$0.732026-04-15
2025-12-16$0.732026-01-15
2025-09-16$0.652025-10-15
2025-06-17$0.652025-07-15
2025-03-18$0.652025-04-15
2024-12-17$0.652025-01-15

Moat model

Narrow · Switching Costs · 2026-06-30
Cost advantage54
Intangibles68
Switching costs80
Network effect40
Efficient scale80
Our component scores (0-100) and overall 65.8; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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