ECLNYSESoap, Detergents, Cleang Preparations, Perfumes, CosmeticsUS GAAP · USD

Ecolab Inc

Ecolab makes water treatment, cleaning, sanitizing, and infection-prevention solutions used by industrial, food, healthcare, hospitality, and life sciences customers. Its business combines chemicals, equipment, digital monitoring, and field service to help customers improve hygiene, protect water systems, and run operations more efficiently.

Revenue16.1bn USD
+2.2 %y/y
Operating profit (EBIT)2,738m USD
−2.3 %y/y
EBIT margin17.0%
−0.8 ppy/y
Net income2,076m USD
−1.7 %y/y
Free cash flow1,904m USD
+4.7 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

05101520bn USD2020: 11.8 bn USD2020: EBIT 1.4 bn USD20202021: 12.7 bn USD2021: EBIT 1.6 bn USD20212022: 14.2 bn USD2022: EBIT 1.6 bn USD20222023: 15.3 bn USD2023: EBIT 2.0 bn USD20232024: 15.7 bn USD2024: EBIT 2.8 bn USD20242025: 16.1 bn USD2025: EBIT 2.7 bn USD202516.12.7
RevenueOperating profit (EBIT)

Business

Share of revenue
Global Water40 %

Water treatment, process applications, and cleaning solutions for industrial and food-related operations.

Global Institutional & Specialty30 %

Warewashing, laundry, and hygiene programs for hospitality, foodservice, healthcare, and institutional sites.

Global Life Sciences15 %

Hygiene and contamination-control solutions for pharmaceutical, biotech, and medical environments.

Global Pest Elimination10 %

Integrated pest management and prevention services for commercial customers.

Equipment, digital systems, and services5 %

Dispensing, monitoring, leasing, and service revenue tied to customer installations and support.

Products

Reported · share of revenue
78.5%21.5%FY2025100 %
  • Product and Equipment78.5 %
  • Service and Lease21.5 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Ecolab sells mainly to business customers that need reliable hygiene, water, and process performance across large, recurring-use operations. Core buyers include industrial manufacturers, food and beverage processors, hotels, restaurants, hospitals, long-term care facilities, data centers, microelectronics, and life sciences companies. Many customers buy through direct field sales and corporate account teams because the offering is customized, service-intensive, and tied to operational uptime and compliance.

Industrial manufacturing and process industries

Buys water treatment, cleaning, and process applications to improve uptime, efficiency, and compliance.

Food and beverage

Buys sanitation, cleaning, and water programs to protect product quality and food safety.

Institutional and hospitality

Buys warewashing, laundry, and hygiene programs to maintain cleanliness and brand standards.

Healthcare

Buys infection prevention and hygiene solutions to reduce contamination and support patient safety.

Life sciences and high-tech

Buys specialized contamination-control and water solutions for regulated production environments.

Commercial pest control customers

Buys recurring pest elimination services to protect facilities, food safety, and reputation.

Strategy

Ecolab is pushing a multi-year One Ecolab program to simplify its organization, use digital technologies more effectively, and expand margins. The company is also investing in dispensing, monitoring, and manufacturing capabilities to deepen customer integration and protect recurring service relationships. Growth is being driven by premium service, innovation, and cross-selling across water, hygiene, infection prevention, and life sciences.

One Ecolab restructuringMedium term

Simplifies the operating model and should improve margin expansion and decision speed.

Digital and AI-enabled service modelMedium term

Improves customer outcomes, productivity, and differentiation in a service-heavy business.

Installed base and equipment investmentLong term

Dispensing and monitoring equipment increase customer stickiness and recurring product pull-through.

Geography

Ecolab operates globally, with customers in more than 170 countries and exposure across North America, Europe, Asia-Pacific, Latin America, and other international markets. The company manufactures most products in company-operated facilities and also uses contract manufacturers and third-party suppliers, so its footprint is both local and globally distributed. International operations add currency, regulatory, and execution complexity, while also broadening the customer base and end-market mix.

Risks

Ecolab faces execution risk from its global restructuring, technology investments, and reliance on service quality in mission-critical customer environments. It also has exposure to foreign exchange, local regulatory differences, cybersecurity, and AI-related reputational and operational risks, all of which can affect margins and customer trust. Because many offerings are recurring and embedded in customer operations, service failures or product issues can quickly damage retention and pricing power.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Restructuring execution risk1AI and cybersecurity risk2Foreign exchange and international operating risk3Goodwill impairment risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Restructuring execution riskImpact: HighLikelihood: Medium

    The One Ecolab program depends on organizational changes, severance actions, and savings realization.

    Exposure: Global functions and country operations

  2. AI and cybersecurity riskImpact: HighLikelihood: Medium

    The company is increasing AI use in products and operations, which raises data, bias, and breach risks.

    ExposureDigital productsInternal systemsCustomer data
  3. Foreign exchange and international operating riskImpact: MediumLikelihood: High

    A large share of business is outside the U.S., creating translation and local execution risk.

    Exposure: More than 170 countries

  4. Goodwill impairment riskImpact: MediumLikelihood: Low

    The company carries significant goodwill from acquisitions and tests it annually for impairment.

    ExposureNalcoPuroliteOvivo ElectronicsOther reporting units

Accounting

Judgemental items
Revenue recognition by product vs service

Different timing for product sales and service/lease revenue affects quarterly comparability.

Impact: Reported sales mix and margin timing

Seasonality

Operating results vary with seasonal sales volume and business mix across segments.

Impact: Quarterly revenue and margin volatility

Goodwill and acquired intangibles

Large acquisition-related balances require annual impairment testing and amortization.

Impact: Potential non-cash impairment charges and amortization expense

Pension and postretirement estimates

Discount rates and return assumptions drive expense and liability measurement.

Impact: Operating expense and balance sheet obligations

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026