Explain this page
Arphra AIPlain-English read on Ecolab Inc.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +41.01% | +38.20% | +40.32% | +43.47% | +44.51% | +42.78% | +42.11% | +41.76% |
| Operating margin | +13.23% | +11.34% | +14.10% | +16.60% | +18.11% | +16.53% | +15.82% | +16.02% |
| EBITDA margin | +19.43% | +17.94% | +19.80% | +24.43% | +21.53% | +21.58% | +21.91% | +22.47% |
| EBIT margin | +12.80% | +11.33% | +13.77% | +18.48% | +17.34% | +16.23% | +16.09% | +16.20% |
| Pre-tax margin | +11.11% | +9.47% | +11.46% | +16.33% | +15.84% | +14.14% | +14.83% | +14.18% |
| Net margin | +8.87% | +7.69% | +8.96% | +13.42% | +12.91% | +12.09% | +11.56% | +11.50% |
| Cost structure | ||||||||
| Cost of revenue / sales | +58.99% | +61.80% | +59.68% | +56.53% | +55.49% | +56.22% | +58.81% | +58.18% |
| R&D intensity | +1.46% | +1.34% | +1.25% | +1.32% | 0.00% | +0.86% | +0.83% | +0.87% |
| SG&A intensity | +26.32% | +25.52% | +24.96% | +25.56% | +26.48% | +25.47% | +26.19% | +25.79% |
| Effective tax rate | +19.11% | +17.46% | +20.65% | +17.09% | +17.84% | +19.10% | +17.75% | +18.69% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +15.58% | +15.04% | +17.00% | +24.03% | +21.17% | +21.24% | +20.39% | +20.21% |
| Return on assets (ROA) | +5.33% | +5.09% | +6.28% | +9.44% | +8.40% | +8.19% | +7.98% | +7.98% |
| Return on capital (ROC) | +10.27% | +9.88% | +12.86% | +15.30% | +15.14% | +14.84% | +14.09% | +14.12% |
| Return on invested capital (ROIC) | +6.89% | +6.70% | +8.17% | +12.37% | +10.79% | +10.85% | +10.30% | +10.14% |
| Asset turnover | +60.04% | +66.10% | +70.13% | +70.31% | +65.12% | +67.76% | +68.97% | +69.37% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +8.87% | +7.69% | +8.96% | +13.42% | +12.91% | +12.09% | +11.56% | +11.50% |
| Asset turnover (× revenue / assets) | +60.04% | +66.10% | +70.13% | +70.31% | +65.12% | +67.76% | +68.97% | +69.37% |
| Equity multiplier (× assets / equity) | +292.38% | +295.71% | +270.64% | +254.72% | +251.89% | +259.24% | +255.68% | +253.29% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.60 | 0.66 | 0.70 | 0.70 | 0.65 | 0.68 | 0.69 | 0.69 |
| Fixed-asset turnover | 3.46 | 3.79 | 3.80 | 3.52 | 3.19 | — | — | — |
| Inventory turnover | 5.03 | 4.89 | 6.11 | 6.07 | 5.99 | — | — | — |
| Receivables turnover | 4.84 | 4.92 | 5.07 | 5.20 | 4.95 | — | — | — |
| Payables turnover | 5.43 | 5.07 | 5.84 | 4.92 | 4.31 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 75.38 | 74.15 | 71.98 | 70.22 | 73.75 | — | — | — |
| Days inventory outstanding (DIO) | 72.49 | 74.64 | 59.77 | 60.09 | 60.96 | — | — | — |
| Days payables outstanding (DPO) | 67.26 | 71.95 | 62.53 | 74.24 | 84.71 | — | — | — |
| Cash conversion cycle | 80.61 | 76.84 | 69.22 | 56.06 | 50.00 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.82 | 1.64 | 1.76 | 1.33 | 1.42 | 1.47 | 1.49 | 1.54 |
| FCF / Net income | 1.26 | 0.99 | 1.19 | 0.86 | 0.92 | 0.95 | 0.98 | 0.99 |
| FCF margin | +11.14% | +7.58% | +10.69% | +11.56% | +11.84% | +11.50% | +11.32% | +11.36% |
| OCF margin | +16.19% | +12.61% | +15.74% | +17.88% | +18.36% | +17.80% | +17.22% | +17.68% |
| CapEx / Revenue | +5.05% | +5.02% | +5.06% | +6.32% | +6.52% | +5.96% | +6.11% | +5.94% |
| CapEx / D&A | 0.76 | 0.76 | 0.84 | 1.06 | 1.56 | — | — | — |
| Stock-based comp / Revenue | +0.70% | +0.62% | +0.62% | +0.86% | +0.85% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 3.91 | 3.81 | 4.79 | 7.37 | 7.28 | 8.32 | 9.53 | 10.80 |
| EPS · basic | 3.95 | 3.83 | 4.82 | 7.43 | 7.33 | 8.28 | 9.67 | 11.00 |
| Book value / share | 25.09 | 25.33 | 28.18 | 30.67 | 34.38 | 35.62 | 37.57 | 39.60 |
| Tangible BV / share | -17.42 | -15.47 | -12.46 | -8.47 | -10.91 | 35.62 | 37.57 | 39.60 |
| Sales / share | 44.04 | 49.50 | 53.47 | 54.92 | 56.39 | 62.58 | 66.25 | 69.58 |
| Operating CF / share | 7.13 | 6.24 | 8.42 | 9.82 | 10.35 | 11.14 | 11.41 | 12.30 |
| Free cash flow / share | 4.91 | 3.75 | 5.71 | 6.35 | 6.68 | 7.20 | 7.50 | 7.90 |
| Dividends / share | 1.96 | 2.10 | 2.15 | 2.32 | 2.64 | 2.74 | 2.87 | 2.93 |
| Payout ratio | +50.13% | +55.22% | +44.98% | +31.45% | +36.31% | +36.21% | +37.52% | +36.61% |
| Retention ratio | +49.87% | +44.78% | +55.02% | +68.55% | +63.69% | +63.79% | +62.48% | +63.39% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +11.42% | +7.98% | +2.75% | +2.16% | +10.26% | +6.78% | +5.43% | +6.63% |
| Gross profit · YoY | — | +3.80% | +13.96% | +10.78% | +4.60% | +5.96% | +5.12% | +4.56% | +6.91% |
| Profit | |||||||||
| Operating income · YoY | — | -4.45% | +34.25% | +20.91% | +11.49% | +0.65% | +2.18% | +6.78% | +9.59% |
| EBITDA · YoY | — | +2.92% | +19.17% | +26.74% | -9.97% | +10.53% | +8.40% | +8.13% | +8.87% |
| Net income · YoY | — | -3.38% | +25.70% | +53.93% | -1.74% | +3.28% | +2.14% | +4.86% | +10.66% |
| Operating | |||||||||
| EBIT · YoY | — | -1.43% | +31.30% | +37.88% | -4.14% | +3.18% | +5.84% | +6.17% | +10.28% |
| R&D · YoY | — | +2.15% | +1.05% | +7.81% | -100.00% | — | +3.77% | +9.57% | -1.02% |
| Per-share | |||||||||
| EPS · diluted · YoY | — | -2.56% | +25.72% | +53.86% | -1.22% | +14.31% | +14.56% | +13.31% | +15.62% |
| EPS · basic · YoY | — | -3.04% | +25.85% | +54.15% | -1.35% | +12.93% | +16.82% | +13.80% | +15.76% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $9.16B | $9.03B | $8.73B | $8.28B | $9.43B | $9.66B | $10.52B | $11.29B |
| Net debt | $8.8B | $8.43B | $7.81B | $7.03B | $8.78B | $8.58B | $9.35B | $10.09B |
| Net debt / EBITDA | 3.56 | 3.31 | 2.58 | 1.83 | 2.54 | 2.24 | 2.25 | 2.25 |
| Debt / equity | 1.26 | 1.24 | 1.08 | 0.94 | 0.96 | 0.96 | 0.98 | 0.99 |
| Debt / assets | +43.18% | +42.05% | +39.98% | +37.00% | +38.18% | +36.91% | +38.32% | +39.24% |
| Equity / assets | +34.20% | +33.82% | +36.95% | +39.26% | +39.70% | +38.57% | +39.11% | +39.48% |
| Coverage | ||||||||
| EBITDA / interest expense | 11.44 | 9.65 | 8.55 | 11.36 | 14.36 | 10.67 | 11.34 | 11.33 |
| Operating income / interest | 7.79 | 6.10 | 6.09 | 7.72 | 12.08 | 8.18 | 8.19 | 8.08 |
| Interest expense | $216.2M | $263.7M | $354.7M | $338.4M | $241.1M | $358.51M | $365.79M | $395.76M |
| Liquidity | ||||||||
| Current ratio | 1.32 | 1.30 | 1.30 | 1.26 | 1.08 | — | — | — |
| Quick ratio | 0.84 | 0.83 | 0.91 | 0.89 | 0.70 | — | — | — |
| Cash ratio | 0.10 | 0.14 | 0.21 | 0.26 | 0.12 | — | — | — |
| Working capital | $1.13B | $1.28B | $1.3B | $1.23B | $420.9M | — | — | — |
| Working capital / revenue | +8.91% | +9.05% | +8.47% | +7.83% | +2.62% | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).