Materials · Specialty Chemicals · US stock · price as of 16 Oct 2026
Key indicators
Price
$288.89
52-week range
$241.85 – $306.79
Market cap
$81.5B
P/E (trailing)
38.8×
EV / EBITDA
31.4×
Free-cash-flow yield
2.3%
Dividend yield
1.0%
Revenue (last 12 months)
$16.8B
Revenue growth (3y a year)
4.3%
Operating margin
16.9%
Return on invested capital
12.8%
Net debt / EBITDA
2.8×
Fair value
Blended fair value$145.51 range $137 – $156
Versus priceOvervalued−50% to fair value
Peer multiples
$134.07
Fundamentals-adjusted multiple
$175.15
10-year DCF (market-scaled)
$127.32
Earnings power value (floor, not blended)
$51.77
Model uncertainty
Medium
X-Ray Score
50/ 100 · High confidence · ahead of 35% of sector peers
Valuation16
Growth71
Profitability64
Financial health52
Dividends56
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Ecolab provides water, hygiene and infection prevention solutions and services to customers in hospitality, food service, health care, manufacturing and energy. It sells cleaning and sanitising chemicals, dispensing equipment and monitoring technology, and its representatives visit customer sites to manage programmes. Because customers repeatedly purchase consumables and services, a large part of its revenue is recurring, and costs for raw materials affect its margins.
Trailing twelve-month revenue stands at $16.8 billion, while revenue grew by 4.3% a year over the past three years. Return on invested capital is 13%, alongside an operating margin of 16.9%. Net debt is 2.8 times EBITDA. The company pays a dividend, and the yield is 1.0%. These figures describe past results and the present financial position only.
StocksXray gives Ecolab Inc. an X-Ray Score of 50 out of 100 (high confidence), ahead of 35% of the S&P 500 stocks in its sector. Its strongest lens is growth (71) and its weakest is valuation (16).
Our fair value blend is $145.51 (range $137.14 to $156.26). At $288.89 the stock trades 99% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Ecolab Inc. (ECL)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$222.28
$139.82
$192.87
$230.07
$260.41
$288.89
Market cap
$64.3B
$40.1B
$55.3B
$65.9B
$74.3B
$81.5B
P/E
56.8×
36.7×
40.3×
31.2×
35.8×
38.8×
EV / revenue
5.7×
3.4×
4.1×
4.6×
5.1×
5.3×
EV / EBITDA
45.5×
30.8×
31.4×
25.8×
29.9×
31.4×
Price / free cash flow
45.3×
37.3×
33.8×
36.2×
39.0×
43.5×
Free-cash-flow yield
2.2%
2.7%
3.0%
2.8%
2.6%
2.3%
Price / book
8.9×
5.5×
6.9×
7.5×
7.6×
8.1×
Dividend yield
0.88%
1.47%
1.12%
1.03%
1.03%
1.01%
Fundamentals checklist ● 7 Good · ● 5 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.1%Bad
Free-cash-flow yield2.3%Bad
Risk models
Altman Z score3.7×Good
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)24.1%Good
Free-cash-flow growth (3y)21.0%Average
Revenue growth (3y)4.3%Good
Growth consistency90%Good
Balance sheet
Current ratio1.8×Average
Net debt / EBITDA2.8×Average
Interest cover8.6×Average
Valuation
Fair value vs price0.5×Bad
EBIT / EV yield3.2%Bad
Profitability
Return on invested capital12.8%Good
Operating margin16.9%Good
Gross profitability24.8%Good
XStocksXray
Ecolab Inc. (ECL)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
12,733
14,188
15,320
15,741
16,081
16,843
Gross profit
5,117
5,357
6,165
6,842
7,150
7,430
Operating income
1,599
1,563
1,992
2,802
2,738
2,852
Net income
1,130
1,092
1,372
2,112
2,076
2,116
Diluted EPS ($)
3.91
3.81
4.79
7.37
7.28
7.45
Free cash flow
1,419
1,076
1,637
1,819
1,904
1,875
Gross margin
40.2%
37.8%
40.2%
43.5%
44.5%
44.1%
Operating margin
12.6%
11.0%
13.0%
17.8%
17.0%
16.9%
Net margin
8.9%
7.7%
9.0%
13.4%
12.9%
12.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
21,206
21,464
21,847
22,388
24,696
29,927
Cash
360
599
920
1,257
646
5,135
Total debt
8,758
8,580
8,182
7,569
8,125
13,171
Equity
7,224
7,236
8,045
8,757
9,771
10,056
Dividend per share ($)
1.95
2.06
2.16
2.36
2.68
2.84
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.