Ecolab (ECL) Financials

$239.02 +1.07 (+0.45%)

As of 02:34 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,002	1,229	1,505	1,429	1,559	-1,205	1,130	1,092	1,372	2,112
Consolidated Net Income / (Loss)	1,017	1,247	1,519	1,445	1,576	-1,188	1,144	1,109	1,393	2,132
Net Income / (Loss) Continuing Operations	1,017	1,247	1,519	1,266	1,443	985	1,144	1,109	1,393	2,132
Total Pre-Tax Income	1,318	1,649	1,762	1,587	1,732	1,161	1,414	1,343	1,756	2,571
Total Operating Income	1,561	1,870	1,950	1,728	1,845	1,396	1,599	1,563	1,992	2,802
Total Gross Profit	6,322	5,618	5,772	5,347	5,516	4,884	5,117	5,357	6,165	6,842
Total Revenue	13,545	13,152	13,836	12,222	12,562	11,790	12,733	14,188	15,320	15,741
Operating Revenue	13,545	13,152	13,836	12,222	12,562	11,790	12,733	14,188	15,320	15,741
Total Cost of Revenue	7,224	7,534	8,064	6,875	7,046	6,906	7,616	8,831	9,155	8,900
Operating Cost of Revenue	7,224	7,534	8,064	6,875	7,046	6,906	7,616	8,831	9,155	8,900
Total Operating Expenses	4,760	3,748	3,822	3,619	3,671	3,489	3,519	3,794	4,173	4,039
Selling, General & Admin Expense	4,346	3,708	3,825	3,506	3,551	3,309	3,416	3,654	4,062	4,228
Other Special Charges / (Income)	415	40	-3.70	113	120	180	103	141	111	-189
Total Other Income / (Expense), net	-244	-221	-188	-141	-114	-234	-184	-219	-237	-231
Interest Expense	244	265	255	221	191	290	218	244	297	283
Other Income / (Expense), net	-	44	67	80	77	56	34	25	60	51
Income Tax Expense	301	403	244	321	289	177	270	235	363	439
Net Income / (Loss) Attributable to Noncontrolling Interest	15	18	14	16	17	17	14	17	21	20
Basic Earnings per Share	$3.38	$4.20	$5.20	$4.95	$5.41	($4.20)	$3.95	$3.83	$4.82	$7.43
Weighted Average Basic Shares Outstanding	296.40M	292.50M	289.60M	288.60M	288.10M	287M	286.30M	285.20M	285M	284.30M
Diluted Earnings per Share	$3.32	$4.14	$5.12	$4.88	$5.33	($4.15)	$3.91	$3.81	$4.79	$7.37
Weighted Average Diluted Shares Outstanding	301.40M	296.70M	294M	292.80M	292.50M	290.30M	289.10M	286.60M	286.50M	286.60M
Weighted Average Basic & Diluted Shares Outstanding	296.50M	292.80M	-150.46B	288.70M	288.17M	285.85M	286.75M	284.46M	285.51M	283.00M
Cash Dividends to Common per Share	$1.34	$1.42	$1.52	$1.69	$1.85	$1.89	$1.95	$2.06	$2.16	$2.36

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

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

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

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	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-12	486	-179	135	447	-82	-440	-90	871	-4.30
Net Cash From Operating Activities	437	859	198	573	788	853	649	611	787	767
Net Cash From Continuing Operating Activities	-	1,788	198	573	788	853	649	611	787	767
Net Income / (Loss) Continuing Operations	352	270	238	335	409	411	417	495	741	480
Consolidated Net Income / (Loss)	352	270	238	335	409	411	417	495	741	480
Depreciation Expense	152	155	159	153	152	153	157	160	157	161
Amortization Expense	81	81	76	77	77	77	78	75	73	74
Non-Cash Adjustments To Reconcile Net Income	20	129	-5.60	27	-30	-2.60	37	26	-363	60
Changes in Operating Assets and Liabilities, net	-168	224	-269	-17	179	214	-39	-145	179	-8.70
Net Cash From Investing Activities	-196	-210	-189	-274	-179	-348	-201	-244	639	-628
Net Cash From Continuing Investing Activities	-	-717	-189	-274	-179	-348	-201	-244	639	-628
Purchase of Property, Plant & Equipment	-193	-203	-174	-172	-167	-263	-202	-197	-236	-360
Acquisitions	-	-	-	-	-1.80	-74	-	-	-18	-257
Sale of Property, Plant & Equipment	0.70	0.80	4.80	3.80	0.90	0.40	0.70	2.80	-0.20	8.00
Other Investing Activities, net	-3.80	-8.40	-21	-0.90	-11	-13	-0.20	-12	3.70	-19
Net Cash From Financing Activities	-247	-162	-166	-156	-147	-586	-889	-446	-548	-140
Net Cash From Continuing Financing Activities	-	-837	-166	-156	-147	-586	-889	-446	-548	-140
Repayment of Debt	-1.80	-3.90	-0.70	-0.80	-0.90	-503	-630	-0.70	-1.80	-1.10
Repurchase of Common Equity	-43	-73	-11	-0.30	-0.80	-2.00	-196	-323	-464	-2.80
Payment of Dividends	-145	-158	-158	-151	-154	-155	-175	-166	-162	-161
Issuance of Debt	-120	2.10	5.50	-3.80	-2.00	0.30	7.20	-5.50	1.60	-1.40
Other Financing Activities, net	62	71	-2.90	-	11	74	106	48	78	27
Effect of Exchange Rate Changes	-5.70	-1.40	-22	-	-	-	-	-	-6.40	-3.40

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

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

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

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

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

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

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.

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 4/24/2025 by MarketBeat.com Staff

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Ecolab (ECL) Financials

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