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Screener / SEC EDGAR /CIK 0000031462 /10-K filed Feb 23, 2026, compared with Feb 21, 2025 /Numbers from the XBRL of the 10-Ks
Materials peers:
APDBALLMOSPPGSTLDECL
NYSE Materials · Household Products

Ecolab ECL

ECL quote by TradingView

Ecolab was incorporated as a Delaware corporation in 1924. 10-K, Item 1

Employees
48,000
Headquarters
Saint Paul, MN
CEO
Christophe Beck
Next results
around Feb 9, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $16.1B through the costs to a net profit of $2.1B · income statement of the 10-K

17% operating margin
Revenue to Gross profit: $7.2BRevenue to Cost of revenue: $8.9BGross profit to Operating profit: $2.7BGross profit to Operating expenses: $4.4BOperating profit to Net profit: $2.1BOperating profit to Tax & other: $662.0MOperating expenses to R&D: $202.0MOperating expenses to SG&A: $4.2B Revenue: $16.1B REVENUE $16.1B +2% Y/Y Gross profit: $7.2B · 44% margin GROSS PROFIT $7.2B 44% margin Cost of revenue: $8.9B · 56% of revenue COST OF REVENUE $8.9B 56% of revenue Operating profit: $2.7B · 17% margin OPERATING PROFIT $2.7B 17% margin · −2% Y/Y Operating expenses: $4.4B · 27% of revenue OPERATING EXPENSES $4.4B 27% of revenue Net profit: $2.1B · 13% margin NET PROFIT $2.1B 13% margin · −2% Y/Y Tax & other: $662.0M · 4% of revenue TAX & OTHER $662.0M 4% of revenue R&D: $202.0M · 1% of revenue R&D $202.0M 1% of revenue SG&A: $4.2B · 26% of revenue SG&A $4.2B 26% of revenue
Gross profit $7.2B 44% margin
Operating profit $2.7B 17% margin · −2% Y/Y
Net profit $2.1B 13% margin · −2% Y/Y
The full income statement, year by year

ECL among Materials peers

Six ratios from the latest 10-K. Each corner is the share of 23 peers the company is above, not a score.

Compare
Revenue growth: 2.2%, above 39% of 23 peers (their median 5.3%) REVENUE GROWTH 2.2% · above 39% Gross margin: 43.9%, above 95% of 19 peers (their median 26.7%) GROSS MARGIN 43.9% · above 95% Operating margin: 16.7%, above 67% of 15 peers (their median 11.2%) OPERATING MARGIN 16.7% · above 67% Net margin: 12.0%, above 74% of 23 peers (their median 8.8%) NET MARGIN 12.0% · above 74% FCF margin: 10.3%, above 70% of 23 peers (their median 6.8%) FCF MARGIN 10.3% · above 70% Return on capital: 9.5%, above 64% of 11 peers (their median 8.8%) RETURN ON CAPITAL 9.5% · above 64%
ECL Peer median Below the median

What changed

2 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 23, 2026 against Feb 21, 2025.

Risk factors
2 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Receivables growing faster than revenue
Receivables +13.4% vs revenue +2.2% (+11.3 pts)
10-K · XBRL
Critical audit matters changed
New this year: Valuation of Projected Benefit Obligation - U.S. Qualified Pension Plan (“As described in Note 16 to the consolidated financial statements, the Company’s projected benefit obligations for the U.S. pension plans was $1,818 million as of December 31, 2025, of which $1,738 million related to the U.S. qualified pension plan. The measurement of the Company’s pension benefit ob”). No longer listed: Valuation of Certain U.S. Defined Benefit Pension Plan Obligations
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
2 open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Receivables growing faster than revenue
    Receivables +13.4% vs revenue +2.2% (+11.3 pts)
  • Critical audit matters changed
    New this year: Valuation of Projected Benefit Obligation - U.S. Qualified Pension Plan (“As described in Note 16 to the consolidated financial statements, the Company’s projected benefit obligations for the U.S. pension plans was $1,818 million as of December 31, 2025, of which $1,738 million related to the U.S. qualified pension plan. The measurement of the Company’s pension benefit ob”). No longer listed: Valuation of Certain U.S. Defined Benefit Pension Plan Obligations
  • Cash from operations $3.0B vs net income $2.1B (FY ending Dec 31, 2025)
8 more checks with nothing to note
  • Inventory +1.7% vs revenue +2.2% (-0.4 pts)
  • Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

2 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.

All 2 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    Notwithstanding our emphasis on safety and the precautions we take related to health and safety, we may be unable to avoid safety incidents relating to our operations that result in injuries or deaths of our employees, contractors or others. Certain safety incidents may result in legal or regulatory action that could result in increased…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
    On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business…

New risk paragraphs, against peers

Latest 10-K of each, Materials companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$14.2B$15.3B$15.7B$16.1B
Net income$1.1B$1.4B$2.1B$2.1B
Operating cash flow$1.8B$2.4B$2.8B$3.0B
Free cash flow$1.1B$1.6B$1.8B$1.9B

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$16.1B ▲ 2.2% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Ecolab, Saint Paul, MN · from the 10-K filed Feb 23, 2026

Ecolab was incorporated as a Delaware corporation in 1924. Our fiscal year is the calendar year ending December 31. International subsidiaries are included in the consolidated financial statements on the basis of their U.S. GAAP (accounting principles generally accepted in the United States of America) November 30 fiscal year ends to facilitate the timely inclusion of such entities in our consolidated financial reporting.

Headquarters
Saint Paul, MN
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Oct 27, 2026
Incorporated in
DE

Employees, at the top of the page: "As of December 31, 2025, Ecolab employed approximately 48,000 employees" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 23, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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