FirmAtlas
Company handbook · ECL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ECL · CIK 31462 · LATEST FILING: 10-Q JUN '26 · FILED AUG 6, 2026
ECOLAB INC.
$288.89
−1.92 (−0.66%)
Close, Oct 16, 2026 · 52-week $243–309
Last fiscal year
ECOLAB INC. reported revenue of $16.1B for the year ended Dec 31, 2025 (FY25), up 2.2% from FY24. Net income was $2.1B, operating cash flow $3.0B and free cash flow $1.9B. Source: 10-K filed Feb 23, 2026.
Market cap
$81.5B
P/E
38.5
EV/EBITDA
26.1x
P/B
8.1
Div yield
1.01%
ROIC
13.9%
Revenue 1Y
2.2%/yr
EPS 1Y
−1.2%/yr
Shares 1Y
−0.5%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOChristophe Beck
HQSaint Paul, MN
AuditorPricewaterhouseCoopers LLP
Employees48,000
Year endsDecember
Revenue by segment · FY25
Water Services50%
Global Institutional38%
Global Pest Elimination8%
Global Healthcare And Life Sciences5%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
9.5%
5.6%
20.2%
6.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$5.2B deployed
Capex
$2.0B
39.1%
Dividends
$1.4B
27.1%
Buybacks
$1.8B
33.8%
Operating cash flow over the period: $5.8B. Total debt changed by +$564M. R&D of $409M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
15,741
16,081+2.2%
16,842
YoY
+2.2%
Gross profit
6,842
7,150+4.5%
7,430
Gross margin
43.5%
44.5%+1.0 pp
—
Operating income
2,802
2,738−2.3%
2,852
Operating margin
17.8%
17.0%−0.8 pp
—
EBITDA
3,437
3,410−0.8%
—
EBITDA margin
21.8%
21.2%−0.6 pp
—
Interest expense
340
306−10.0%
—
Interest coverage
10.10x
11.14x+1.04x
—
Net income
2,112
2,076−1.7%
2,116
YoY
−1.7%
Net margin
13.4%
12.9%−0.5 pp
—
EPS (diluted, $)
7.37
7.28−1.2%
7.47
YoY
−1.2%
Balance sheet
Total assets
22,388
24,696+10.3%
29,927
Cash & short-term investments
1,257
646−48.6%
—
Accounts receivable
2,865
3,249+13.4%
—
Inventory
1,465
1,490+1.7%
—
Net PP&E
3,752
4,277+14.0%
—
Other assets
13,049
15,034+15.2%
—
Total liabilities
13,630
14,926+9.5%
19,872
Accounts payable
1,810
2,071+14.4%
—
Total debt
7,561
8,125+7.5%
13,171
Other liabilities
4,259
4,729+11.0%
—
Shareholders’ equity
8,757
9,771+11.6%
10,056
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,814
2,953+4.9%
3,057
Net income
2,132
2,093−1.8%
—
Depreciation & amortization
635
673+5.9%
—
Stock-based compensation
135
137+1.3%
—
Working capital & other
(88)
50n/m
—
Cash from investing
(434)
(2,707)n/m
—
Capex
(994)
(1,048)n/m
—
PP&E sold
11
52+362.8%
—
Other investing
549
(1,711)−411.5%
—
Cash from financing
(2,024)
(853)n/m
—
Debt raised
—
1,046
—
Debt repaid
(630)
(674)n/m
—
Dividends
(664)
(754)n/m
—
Buybacks
(986)
(784)n/m
—
Shares issued
259
228−12.0%
—
Other financing
(2)
85n/m
—
Free cash flow (OCF − capex)
1,819
1,904+4.7%
1,874
Where the cash went
Operating cash flow
2,814
2,953+4.9%
3,057
Reinvested in the business
994
1,048+5.4%
—
% of operating cash flow
35.3%
35.5%
Capex
994
1,048+5.4%
1,182
R&D (memo, already in costs)
207
202−2.4%
—
Free cash flow
1,819
1,904+4.7%
1,874
YoY
+4.7%
Returned to shareholders
1,651
1,537−6.9%
—
% of free cash flow
90.7%
80.7%
Dividends
664
754+13.4%
—
Buybacks
986
784−20.5%
—
Change in total debt
—
564
—
Cash left over
—
931
—
FCF conversion (FCF ÷ net income)
86.1%
91.7%+5.6 pp
—
Owner earnings
—
1,551
—
Owner earnings margin
—
9.6%
—
Buyback yield
1.5%
1.1%−0.4 pp
—
Returns & ratios
ROIC (all capital)
15.4%
13.9%−1.5 pp
—
ROIC (operating)
37.0%
34.0%−3.0 pp
—
Net debt / EBITDA
1.83x
2.19x+0.36x
—
Debt / equity
0.86x
0.83x−0.03x
—
Cash conversion cycle (days)
52
50−2 d
—
ROE
24.1%
21.2%−2.9 pp
—
ROA
9.4%
8.4%−1.0 pp
—
ROCE
15.9%
14.3%−1.6 pp
—
NOPAT
2,324
2,249−3.2%
—
Invested capital (operating)
6,272
6,945+10.7%
—
Invested capital (all)
15,062
17,250+14.5%
—
Reinvestment rate
—
29.9%
—
Debtor days
66
74+7 d
—
Inventory days
60
61+1 d
—
Days payable
74
85+10 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
4,165
4,196
4,066
4,415
vs year-ago quarter
Gross profit
1,866
1,848
1,771
1,946
Gross margin
44.8%
44.0%
43.6%
44.1%
Operating income
760
712
622
758
Net income
585
564
433
535
vs year-ago quarter
Net margin
14.0%
13.4%
10.6%
12.1%
EPS (diluted, $)
2.05
2.00
1.52
1.90
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
23,898
24,696
25,041
29,927
Cash & equivalents
1,956
646
520
5,135
Total debt
8,064
8,125
8,187
13,171
Shareholders’ equity
9,719
9,771
10,004
10,056
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
791
1,090
446
730
Capex
262
332
348
240
Free cash flow
530
758
97
489
vs year-ago quarter