financial statements

The full income statement, balance sheet, and cash-flow statement for Ecolab Inc. (ECL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	16.1B YoY+2.2%	15.7B YoY+2.7%	15.3B YoY+8.0%	14.2B YoY+11.4%	12.7B YoY+8.0%
Cost of revenue	8.93B YoY+0.3%	8.90B YoY-2.8%	9.15B YoY+3.7%	8.83B YoY+16.0%	7.62B YoY+10.3%
Research & development	202M YoY-2.4%	207M YoY+7.8%	192M YoY+1.1%	190M YoY+2.2%	186M YoY+0.5%
Selling, general & administrative	4.26B YoY+0.7%	4.23B YoY+4.1%	4.06B YoY+11.2%	3.65B YoY+7.0%	3.42B YoY+3.2%
Restructuring	—	—	—	9.90M YoY+86.8%	5.30M YoY-87.3%
Amortization of intangibles	304M YoY+1.0%	301M YoY-2.0%	307M YoY-4.1%	320M YoY+33.9%	239M YoY+9.1%
Provision for credit losses	51.4M YoY+9.6%	46.9M YoY-13.1%	54.0M YoY+41.7%	38.1M YoY+154.0%	15.0M YoY-74.0%
Operating income	2.74B YoY-2.3%	2.80B YoY+40.7%	1.99B YoY+27.5%	1.56B YoY-2.3%	1.60B YoY+14.5%
Interest expense	306M YoY-10.0%	340M YoY-2.5%	349M YoY+38.4%	252M YoY+9.3%	231M YoY-24.3%
Interest & investment income	65.1M YoY+12.6%	57.8M YoY+10.7%	52.2M YoY+514.1%	8.50M YoY-30.9%	12.3M YoY-15.8%
Other non-operating income	51.4M YoY+0.2%	51.3M YoY-14.4%	59.9M YoY+144.5%	24.5M YoY-27.7%	33.9M YoY-39.4%
Pre-tax income	2.55B YoY-0.9%	2.57B YoY+46.5%	1.76B YoY+30.7%	1.34B YoY-5.0%	1.41B YoY+21.8%
Income tax	455M YoY+3.5%	439M YoY+21.2%	363M YoY+54.6%	235M YoY-13.2%	270M YoY+53.0%
	2.08B YoY-1.7%	2.11B YoY+53.9%	1.37B YoY+25.7%	1.09B YoY-3.4%	1.13B YoY+195.3%
Income from continuing operations	—	2.11B YoY+53.9%	1.37B YoY+25.7%	1.09B YoY-3.4%	1.13B YoY+16.8%
Net income to non-controlling interest	17.7M YoY-9.2%	19.5M YoY-5.8%	20.7M YoY+20.3%	17.2M YoY+22.0%	14.1M
Net income to common	—	—	1.37B YoY+25.7%	1.09B YoY-3.4%	1.13B YoY+193.8%
	$7.28 YoY-1.2%	$7.37 YoY+53.9%	$4.79 YoY+25.7%	$3.81 YoY-2.6%	$3.91 YoY+194.2%
EPS (basic)	$7.33 YoY-1.3%	$7.43 YoY+54.1%	$4.82 YoY+25.8%	$3.83 YoY-3.0%	$3.95 YoY+194.0%
Weighted-avg shares (basic)	283M YoY-0.4%	284M YoY-0.2%	285M YoY-0.1%	285M YoY-0.4%	286M YoY-0.2%
Weighted-avg shares (diluted)	285M YoY-0.5%	287M YoY+0.0%	287M YoY-0.0%	287M YoY-0.9%	289M YoY-0.4%
Dividends per share	$2.68 YoY+13.6%	$2.36 YoY+9.3%	$2.16 YoY+4.9%	$2.06 YoY+5.6%	$1.95 YoY+3.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.96B YoY-1.2%	6.03B YoY+6.8%	5.64B YoY+2.7%	5.49B YoY+17.2%	4.69B YoY-8.4%
Cash & equivalents	646M YoY-48.6%	1.26B YoY+36.7%	920M YoY+53.6%	599M YoY+66.3%	360M YoY-71.4%
Accounts receivable	3.25B YoY+13.4%	2.87B YoY+1.1%	2.83B YoY+5.0%	2.70B YoY+8.9%	2.48B YoY+9.0%
Inventory	1.49B YoY+1.7%	1.46B YoY-2.2%	1.50B YoY-16.5%	1.79B YoY+20.2%	1.49B YoY+16.1%
Prepaid expenses	160M YoY+5.4%	151M YoY+5.2%	144M YoY+16.1%	124M YoY+2.2%	121M YoY+22.3%
Other current assets	570M YoY+29.7%	439M YoY+11.6%	393M YoY-2.8%	405M YoY+13.4%	357M YoY+19.7%
	24.7B YoY+10.3%	22.4B YoY+2.5%	21.8B YoY+1.8%	21.5B YoY+1.2%	21.2B YoY+17.0%
Property, plant & equipment	4.28B YoY+14.0%	3.75B YoY+8.0%	3.47B YoY+5.5%	3.29B YoY+0.1%	3.29B YoY+5.2%
Operating lease right-of-use	766M YoY+5.9%	723M YoY+30.7%	554M YoY+23.5%	448M YoY+13.0%	397M YoY-6.4%
Goodwill	9.23B YoY+16.7%	7.91B YoY-3.0%	8.15B YoY+1.7%	8.01B YoY-0.6%	8.06B YoY+34.2%
Intangible assets	3.69B YoY+11.5%	3.31B YoY-5.3%	3.49B YoY-5.1%	3.68B YoY-12.9%	4.22B YoY+41.9%
Deferred tax assets	181M YoY+16.4%	156M YoY+30.3%	119M YoY+10.4%	108M YoY-10.4%	121M YoY-26.1%
Other non-current assets	783M YoY+16.8%	670M YoY+25.8%	533M YoY-0.4%	535M YoY-2.0%	546M YoY+14.7%
	5.53B YoY+15.5%	4.79B YoY+10.3%	4.35B YoY+3.2%	4.21B YoY+18.5%	3.55B YoY+21.2%
Accounts payable	2.07B YoY+14.4%	1.81B YoY+15.6%	1.57B YoY-9.4%	1.73B YoY+24.9%	1.38B YoY+19.3%
Short-term & current debt	870M YoY+41.4%	616M YoY-2.3%	630M YoY+24.8%	505M YoY+22.9%	411M YoY+2275.7%
Current lease liability	165M YoY+15.7%	142M YoY+12.8%	126M YoY+16.4%	108M YoY-5.9%	115M YoY-8.4%
Other current liabilities	1.74B YoY+14.9%	1.51B YoY+13.3%	1.33B YoY+3.8%	1.29B YoY+12.4%	1.14B YoY-3.8%
	14.9B YoY+9.5%	13.6B YoY-1.3%	13.8B YoY-3.0%	14.2B YoY+1.8%	14.0B YoY+17.0%
Long-term debt	4.88B YoY+0.0%	4.88B YoY+0.0%	4.88B YoY+0.0%	4.88B YoY+0.0%	4.88B YoY+0.0%
Non-current lease liability	412M YoY+0.0%	412M YoY+0.0%	412M YoY+0.0%	412M YoY+0.0%	412M YoY+0.0%
Deferred tax liabilities	330M YoY+17.8%	280M YoY-33.0%	418M YoY-17.3%	506M YoY-18.7%	622M YoY+28.5%
Other non-current liabilities	519M YoY+41.6%	366M YoY-4.1%	382M YoY-6.0%	406M YoY+59.9%	254M YoY-18.7%
	9.77B YoY+11.6%	8.76B YoY+8.9%	8.04B YoY+11.2%	7.24B YoY+0.2%	7.22B YoY+17.2%
Common stock	369M YoY+0.4%	368M YoY+0.6%	366M YoY+0.3%	365M YoY+0.2%	364M YoY+0.4%
Additional paid-in capital	7.52B YoY+5.1%	7.16B YoY+5.8%	6.77B YoY+2.8%	6.58B YoY+1.8%	6.46B YoY+3.7%
Retained earnings	12.8B YoY+11.4%	11.5B YoY+14.3%	10.1B YoY+8.1%	9.32B YoY+5.7%	8.81B YoY+6.9%
Treasury stock	9.08B YoY+9.3%	8.31B YoY+13.6%	7.31B YoY+0.2%	7.30B YoY+7.6%	6.78B YoY+1.6%
Accumulated other comprehensive income	-1.87B YoY+5.4%	-1.98B YoY-7.1%	-1.85B YoY-7.2%	-1.73B YoY-5.6%	-1.63B YoY+18.0%
Non-controlling interest	33.7M YoY+5.6%	31.9M YoY+16.0%	27.5M YoY+22.2%	22.5M YoY-22.1%	28.9M YoY-17.4%
Total equity incl. non-controlling	9.80B YoY+11.6%	8.79B YoY+8.9%	8.07B YoY+11.2%	7.26B YoY+0.1%	7.25B YoY+17.0%
Total liabilities & equity	24.7B YoY+10.3%	22.4B YoY+2.5%	21.8B YoY+1.8%	21.5B YoY+1.2%	21.2B YoY+17.0%
Common shares outstanding	282M YoY-0.5%	283M YoY-0.7%	285M YoY+0.3%	285M YoY-0.8%	287M YoY+0.4%
Shares outstanding (cover)	283M YoY+0.0%	283M YoY-0.7%	285M YoY+0.1%	285M YoY-0.6%	287M YoY+0.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.95B YoY+4.9%	2.81B YoY+16.7%	2.41B YoY+34.9%	1.79B YoY-13.3%	2.06B YoY+10.8%
Depreciation & amortization	673M YoY+5.9%	635M YoY+3.0%	617M YoY-0.3%	619M YoY+2.3%	604M YoY+1.7%
Share-based compensation	137M YoY+1.3%	135M YoY+41.7%	95.1M YoY+8.3%	87.8M YoY-1.9%	89.5M YoY+9.0%
Deferred income taxes	-36.2M YoY+80.4%	-185M YoY-235.0%	-55.1M YoY+61.4%	-143M YoY-15744.4%	-900K YoY+97.7%
Change in receivables	186M YoY+26.7%	147M YoY+74.0%	84.3M YoY-73.6%	320M YoY+79.3%	178M YoY+214.5%
Change in inventory	-36.4M YoY-131.5%	116M YoY+136.1%	-320M YoY-179.5%	403M YoY+451.9%	73.0M YoY-59.3%
Change in payables	67.7M YoY-77.4%	300M YoY+229.1%	-232M YoY-158.9%	395M YoY+97.0%	200M YoY+258.5%
	-2.71B YoY-524.1%	-434M YoY+56.2%	-991M YoY-38.2%	-717M YoY+84.3%	-4.58B YoY-1004.9%
Capital expenditure	1.05B YoY+5.4%	995M YoY+28.4%	775M YoY+8.7%	713M YoY+10.9%	643M YoY+31.5%
Other investing activities	75.0M YoY+173.7%	27.4M YoY-39.4%	45.2M YoY+4620.0%	-1.00M YoY-104.0%	25.2M YoY+687.5%
	-853M YoY+57.8%	-2.02B YoY-91.9%	-1.05B YoY-26.0%	-837M YoY-152.2%	1.60B YoY+569.0%
Long-term debt issued	1.05B	—	—	494M YoY-82.2%	2.77B YoY+49.5%
Long-term debt repaid	674M YoY+6.9%	630M YoY+26.1%	500M	—	1.02B YoY-35.2%
Net short-term debt	98.2M YoY+5068.4%	1.90M YoY+200.0%	-1.90M YoY+99.5%	-404M YoY-202.7%	394M YoY+700.9%
Common stock repurchased	784M YoY-20.5%	987M YoY+7100.7%	13.7M YoY-97.4%	518M YoY+386.1%	107M YoY-27.1%
Dividends paid	754M YoY+13.4%	664M YoY+7.6%	617M YoY+2.4%	603M YoY+6.4%	566M YoY+1.0%
Other financing activities	-13.7M YoY-280.6%	-3.60M YoY-9.1%	-3.30M YoY+53.5%	-7.10M YoY+51.0%	-14.5M YoY-51.0%
FX effect on cash	-2.70M YoY+85.6%	-18.7M YoY+59.1%	-45.7M YoY-1138.6%	4.40M YoY-69.2%	14.3M YoY+147.5%
Net change in cash	—	—	321M YoY+34.4%	239M YoY+126.5%	-900M YoY-183.8%
Interest paid	303M YoY-11.7%	343M YoY+5.5%	325M YoY+46.0%	222M YoY+6.6%	209M YoY-20.5%
Income taxes paid	548M YoY-15.3%	647M YoY+38.0%	469M YoY+51.9%	309M YoY+12.0%	276M YoY-24.9%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	74.4B YoY+12.1%	66.4B YoY+17.3%	56.6B YoY+36.4%	41.5B YoY-38.3%	67.2B YoY+8.9%
P/E	35.8× YoY+14.1%	31.4× YoY-31.6%	45.9× YoY+25.0%	36.7× YoY-38.2%	59.5×
P/S	4.6× YoY+9.7%	4.2× YoY+12.2%	3.8× YoY+25.8%	3.0× YoY-43.4%	5.3× YoY+0.8%
P/B	7.6× YoY+0.4%	7.6× YoY+4.4%	7.3× YoY+23.6%	5.9× YoY-36.9%	9.3× YoY-7.1%
P/FCF	39.0× YoY+7.1%	36.5× YoY+9.8%	33.2× YoY-32.7%	49.3× YoY+4.1%	47.4× YoY+5.2%
Earnings yield	2.8% YoY-12.3%	3.2% YoY+46.2%	2.2% YoY-20.0%	2.7% YoY+61.9%	1.7%
FCF yield	2.6% YoY-6.6%	2.7% YoY-9.0%	3.0% YoY+48.5%	2.0% YoY-3.9%	2.1% YoY-4.9%
Dividend yield	1.0% YoY+1.4%	1.0% YoY-7.5%	1.1% YoY-23.1%	1.4% YoY+70.3%	0.8% YoY-4.8%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ECL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ECL filings on SEC EDGAR → Not investment advice.

ECL▼ financial statements

About this data

financial statements