Ecolab (ECL)
Market Price (11/1/2026): $302.915 | Market Cap: $85.0 BilInvestor Relations Sector: Materials | Industry: Specialty Chemicals
Ecolab (ECL)
Market Price (11/1/2026): $302.915Market Cap: $85.0 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 3.0 Bil Stock buyback supportStock Buyback 3Y Total is 2.4 Bil Low stock price volatilityVol 12M is 21% Megatrend and thematic driversMegatrends include Water Infrastructure, Sustainable Resource Management, Advanced Materials, Smart Buildings & Proptech, Show more. | Trading close to highsDist 52W High is -0.9%, Dist 3Y High is -0.9% Weak multi-year price returns2Y Excs Rtn is -11% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 41x Key risksECL key risks include [1] its vulnerability to economic fluctuations within its key hospitality and energy end-markets and [2] potential financial liabilities from non-compliance with the stringent environmental and safety regulations governing its products. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 3.0 Bil |
| Stock buyback supportStock Buyback 3Y Total is 2.4 Bil |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, Sustainable Resource Management, Advanced Materials, Smart Buildings & Proptech, Show more. |
| Trading close to highsDist 52W High is -0.9%, Dist 3Y High is -0.9% |
| Weak multi-year price returns2Y Excs Rtn is -11% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 28x, P/EPrice/Earnings or Price/(Net Income) is 41x |
| Key risksECL key risks include [1] its vulnerability to economic fluctuations within its key hospitality and energy end-markets and [2] potential financial liabilities from non-compliance with the stringent environmental and safety regulations governing its products. |
Qualitative Assessment
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Ecolab (ECL) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Strong fiscal Q3 2026 Earnings Performance. Ecolab delivered robust results for its third fiscal quarter ending September 30, 2026, with adjusted diluted earnings per share (EPS) of $2.18, meeting analysts' consensus estimates. The company also reported a 13% increase in net sales year-over-year to $4.69 billion. This performance was driven by accelerating organic sales growth of 7%, which included 2% volume growth and 5% pricing gains.
2. Significant Expansion of Operating Income Margins. Ecolab's organic operating income margin expanded to 19.6% in fiscal Q3 2026, marking a 70 basis point improvement and an 11% acceleration in organic operating income growth. This margin expansion was achieved despite ongoing commodity cost inflation, attributed to effective pricing strategies and disciplined supply chain management.
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Ecolab (ECL) stock has gained about 10% since 7/31/2026 because of the following key factors:
1. Strong fiscal Q3 2026 Earnings Performance. Ecolab delivered robust results for its third fiscal quarter ending September 30, 2026, with adjusted diluted earnings per share (EPS) of $2.18, meeting analysts' consensus estimates. The company also reported a 13% increase in net sales year-over-year to $4.69 billion. This performance was driven by accelerating organic sales growth of 7%, which included 2% volume growth and 5% pricing gains.
2. Significant Expansion of Operating Income Margins. Ecolab's organic operating income margin expanded to 19.6% in fiscal Q3 2026, marking a 70 basis point improvement and an 11% acceleration in organic operating income growth. This margin expansion was achieved despite ongoing commodity cost inflation, attributed to effective pricing strategies and disciplined supply chain management.
3. Accelerated Growth in High-Tech and Life Sciences Segments. The company's "growth engines," particularly Global High-Tech and Life Sciences, demonstrated exceptional performance. Global High-Tech organic sales surged by 63% in fiscal Q3 2026, driven by demand for data center cooling and microelectronics water systems, while Life Sciences organic sales grew by 17%. Additionally, Ecolab Digital sales increased by 34%. These high-growth areas significantly contributed to overall sales momentum, offsetting softer performance in institutional services.
4. Upward Revision of Fiscal Year 2026 EPS Outlook and Positive Analyst Sentiment. Following the strong fiscal Q3 2026 results, Ecolab raised its full-year fiscal 2026 adjusted diluted EPS outlook to a range of $8.10 to $8.20, representing an 8% to 9% increase over fiscal 2025. This revised outlook, despite an approximate 6 percentage point headwind from acquisition-related amortization and financing costs, signaled confidence in the company's underlying business strength. Concurrently, several analysts revised their price targets upward, including UBS raising its target to $357 and Citigroup to $345, contributing to positive market sentiment.
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Stock Movement Drivers
Fundamental Drivers
The 9.4% change in ECL stock from 7/31/2026 to 10/31/2026 was primarily driven by a 10.0% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 276.89 | 302.98 | 9.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,452 | 17,372 | 5.6% |
| Net Income Margin (%) | 12.8% | 12.0% | -6.3% |
| P/E Multiple | 37.1 | 40.8 | 10.0% |
| Shares Outstanding (Mil) | 282 | 280 | 0.6% |
| Cumulative Contribution | 9.4% |
Market Drivers
7/31/2026 to 10/31/2026| Return | Correlation | |
|---|---|---|
| ECL | 9.4% | |
| Market (SPY) | 1.2% | 10.2% |
| Sector (XLB) | 4.6% | 62.6% |
Fundamental Drivers
The 16.9% change in ECL stock from 4/30/2026 to 10/31/2026 was primarily driven by a 15.5% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 259.20 | 302.98 | 16.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16,081 | 17,372 | 8.0% |
| Net Income Margin (%) | 12.9% | 12.0% | -7.1% |
| P/E Multiple | 35.3 | 40.8 | 15.5% |
| Shares Outstanding (Mil) | 283 | 280 | 0.8% |
| Cumulative Contribution | 16.9% |
Market Drivers
4/30/2026 to 10/31/2026| Return | Correlation | |
|---|---|---|
| ECL | 16.9% | |
| Market (SPY) | 5.4% | 10.6% |
| Sector (XLB) | 2.9% | 66.6% |
Fundamental Drivers
The 19.5% change in ECL stock from 10/31/2025 to 10/31/2026 was primarily driven by a 12.6% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 253.63 | 302.98 | 19.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,890 | 17,372 | 9.3% |
| Net Income Margin (%) | 12.5% | 12.0% | -4.0% |
| P/E Multiple | 36.2 | 40.8 | 12.6% |
| Shares Outstanding (Mil) | 284 | 280 | 1.1% |
| Cumulative Contribution | 19.5% |
Market Drivers
10/31/2025 to 10/31/2026| Return | Correlation | |
|---|---|---|
| ECL | 19.5% | |
| Market (SPY) | 11.7% | 27.4% |
| Sector (XLB) | 24.8% | 66.9% |
Fundamental Drivers
The 86.3% change in ECL stock from 10/31/2023 to 10/31/2026 was primarily driven by a 50.7% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 10312026 | Change |
|---|---|---|---|
| Stock Price ($) | 162.63 | 302.98 | 86.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14,764 | 17,372 | 17.7% |
| Net Income Margin (%) | 8.0% | 12.0% | 50.7% |
| P/E Multiple | 39.4 | 40.8 | 3.4% |
| Shares Outstanding (Mil) | 285 | 280 | 1.6% |
| Cumulative Contribution | 86.3% |
Market Drivers
10/31/2023 to 10/31/2026| Return | Correlation | |
|---|---|---|
| ECL | 86.3% | |
| Market (SPY) | 86.9% | 39.6% |
| Sector (XLB) | 46.2% | 58.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ECL Return | 9% | -37% | 38% | 19% | 13% | 16% | 49% |
| Peers Return | 10% | -9% | 19% | 9% | 12% | -5% | 38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| ECL Win Rate | 58% | 25% | 67% | 58% | 50% | 50% | |
| Peers Win Rate | 53% | 47% | 53% | 57% | 53% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| ECL Max Drawdown | -10% | -43% | -17% | -10% | -16% | -20% | |
| Peers Max Drawdown | -19% | -29% | -21% | -17% | -23% | -31% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: STE, ROL, CTAS, CLX, DD. See ECL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/30/2026 (YTD)
How Low Can It Go
| Event | ECL | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.0% | -18.8% |
| % Gain to Breakeven | 17.7% | 23.1% |
| Time to Breakeven | 52 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -17.3% | -9.5% |
| % Gain to Breakeven | 20.9% | 10.5% |
| Time to Breakeven | 34 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 502 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -40.3% | -33.7% |
| % Gain to Breakeven | 67.5% | 50.9% |
| Time to Breakeven | 66 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -11.4% | -19.2% |
| % Gain to Breakeven | 12.9% | 23.8% |
| Time to Breakeven | 37 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -13.4% | -12.2% |
| % Gain to Breakeven | 15.5% | 13.9% |
| Time to Breakeven | 51 days | 62 days |
In The Past
Ecolab's stock fell -15.0% during the 2025 US Tariff Shock. Such a loss loss requires a 17.7% gain to breakeven.
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| Event | ECL | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.1% | 32.4% |
| Time to Breakeven | 502 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -40.3% | -33.7% |
| % Gain to Breakeven | 67.5% | 50.9% |
| Time to Breakeven | 66 days | 140 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -41.9% | -53.4% |
| % Gain to Breakeven | 72.1% | 114.4% |
| Time to Breakeven | 560 days | 1085 days |
In The Past
Ecolab's stock fell -15.0% during the 2025 US Tariff Shock. Such a loss loss requires a 17.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ecolab (ECL)
Ecolab Inc. (ECL) is a global leader in providing essential water, hygiene, and infection prevention solutions and services. The company partners with a wide range of industries and institutions, helping them maintain clean, safe, and efficient operations through specialized cleaning, sanitizing, and water treatment programs. Their core focus is on optimizing resource use, enhancing hygiene standards, and preventing the spread of contaminants across various commercial and industrial settings.
Ecolab's offerings are structured across several key segments. The Global Industrial segment delivers water treatment and process applications, along with cleaning and sanitizing solutions, to heavy industries such as manufacturing, food and beverage processing, energy, and chemical sectors. For the foodservice, hospitality, lodging, and retail industries, the Global Institutional & Specialty segment provides specialized cleaning and sanitizing products. Furthermore, their Global Healthcare & Life Sciences segment offers critical infection prevention, surgical solutions, and end-to-end cleaning and contamination control solutions for healthcare, personal care, and pharmaceutical industries.
Beyond these core areas, Ecolab also provides specialized services through its "Other" segment. This includes comprehensive pest elimination services for restaurants, hotels, and healthcare facilities to detect and prevent infestations. They also supply colloidal silica for advanced manufacturing applications in semiconductor and aerospace industries, and offer solutions for commercial laundry operations to manage wash processes efficiently. Ecolab reaches its diverse customer base globally through a dedicated field sales force, corporate account personnel, and a network of distributors and dealers.
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1. The 'Intel Inside' for industrial and institutional hygiene and water management.
2. Like Amazon Web Services (AWS) or Google Cloud, but for the physical world's hygiene, water treatment, and pest control needs of businesses.
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- Water Treatment and Process Applications: Provides solutions and services for managing water quality and optimizing industrial processes across various sectors.
- Cleaning and Sanitizing Solutions: Offers specialized products and services for hygiene and cleanliness across manufacturing, food and beverage, institutional, and retail industries.
- Infection Prevention and Surgical Solutions: Delivers specialized products and services focused on preventing infections and supporting surgical procedures, primarily in healthcare.
- Pest Elimination Services: Provides services to detect, eliminate, and prevent pests such as rodents and insects in commercial and institutional settings.
- Colloidal Silica Products: Manufactures colloidal silica for binding and polishing applications in semiconductor, catalyst, and aerospace component manufacturing.
- Commercial Laundry Management: Offers custom programs, premium products, and services to manage wash processes, optimize water and energy use, and provide real-time data for commercial laundries.
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Ecolab sells primarily to other companies and institutions. Its major customers can be categorized by the industries and institutions it serves, as specific company names are not provided in the background:
- Industrial Sector: This includes manufacturing, food and beverage processing, transportation, chemical, metals and mining, power generation, pulp and paper, commercial laundry, petroleum, refining, petrochemical, semiconductor, catalyst, and aerospace component manufacturing industries.
- Institutional & Commercial Sector: This encompasses foodservice (restaurants), hospitality (hotels, lodging), government and education facilities, retail stores, quick service restaurants, and grocery operations.
- Healthcare & Life Sciences Sector: This involves healthcare facilities (hospitals, clinics), personal care product manufacturers, and pharmaceutical companies.
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Christophe Beck, Chairman and Chief Executive Officer
Christophe Beck was appointed Chairman in May 2022 and Chief Executive Officer in January 2021. He joined Ecolab in 2007 and has held numerous senior leadership positions within the company, including President and Chief Operating Officer; Executive Vice President and President of the Global Industrial Group; Executive Vice President and President of Nalco Water, an Ecolab company; and Executive Vice President and President of International Regions. He was instrumental in leading the integration of Nalco following its acquisition by Ecolab in 2011. Before joining Ecolab, Mr. Beck spent 16 years as a senior executive at Nestlé, where he managed several of the company's major businesses across various geographies. Earlier in his career, he contributed to a space shuttle project for the European Space Agency. He holds a master's degree in Engineering from the Swiss Federal Institute of Technology and was recognized as a World Economic Forum Young Global Leader in 2006.
Scott Kirkland, Chief Financial Officer
Scott Kirkland was appointed Chief Financial Officer for Ecolab Inc. effective January 1, 2022. He has been with Ecolab since 2005, serving in various financial leadership capacities, including Senior Vice President and Corporate Controller, with global responsibility for financial planning and analysis, accounting, and internal audit functions. He also served as Senior Vice President for Ecolab's Global Energy segment, responsible for its financial objectives. Prior to joining Ecolab, Mr. Kirkland held finance positions with Novartis International AG. He began his career with roles in audit and assurance, and transaction services at PwC. Mr. Kirkland holds a bachelor's degree in accounting from the University of Northern Iowa.
Darrell Brown, Co-Chief Operating Officer, Global Markets and President
Effective April 1, 2026, Darrell Brown was appointed Co-Chief Operating Officer, Global Markets, and will continue to serve as President. He has served as President and Chief Operating Officer since 2022. With a tenure spanning 24 years at Ecolab, Mr. Brown has held several key leadership positions, including Executive Vice President and President of the Global Industrial Group from 2019 to 2022, and Executive Vice President and President of Ecolab's Energy Services Division from 2018 to 2019.
Greg Cook, Co-Chief Operating Officer, Global Businesses
Effective April 1, 2026, Greg Cook was appointed Co-Chief Operating Officer, Global Businesses. He has served as Executive Vice President and President of the Institutional Group since 2023. Having joined Ecolab in 1997, Mr. Cook has accumulated 28 years of experience within the company, holding various key finance, sales, and general management roles across the Food & Beverage, Textile Care, and Institutional sectors. His previous roles include Executive Vice President and General Manager of Global Institutional from 2021 to 2023, and Senior Vice President and General Manager of Global Pest from 2020 to 2021.
Nicholas Alfano, Executive Vice President and President, Global Industrial Group
Nicholas Alfano is the Executive Vice President and President of Ecolab's Global Industrial Group, a position he assumed in April 2023. In this role, he oversees the company's largest business segment, focusing on integrated water management solutions and food safety. Mr. Alfano joined Ecolab in 1996 and has held various executive positions, including Executive Vice President and General Manager of Global Light Water and Executive Vice President and General Manager of Global Food & Beverage. Prior to his extensive career at Ecolab, he spent 14 years with Calgon Corporation, a subsidiary of Merck and Co., where he held various sales and marketing management positions, including Director of Marketing for the Global Paper and Water Treatment Chemicals business unit. He holds a bachelor's degree in Chemical Engineering from Drexel University and a master's degree in Business Administration from the Katz Graduate School of Business at the University of Pittsburgh.
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The key risks to Ecolab's business are:
- Geopolitical and Economic Sensitivity: Ecolab's extensive global operations, spanning over 170 countries, expose it to significant risks from geopolitical instability, trade policy changes, tariffs, and economic upheavals in various regions. Economic downturns in key markets, such as foodservice, hospitality, healthcare, and industrial sectors, can adversely impact customer demand for Ecolab's products and services. Furthermore, the company is susceptible to foreign currency exchange rate fluctuations, which can negatively affect reported sales and earnings from its international operations.
- Intense Competitive Pressure and Market Fragmentation: Ecolab operates in highly competitive markets, facing rivalry from both large multinational corporations and numerous smaller regional entities. This competitive landscape necessitates continuous innovation and superior customer support to maintain its market leadership and pricing power. The threat of competitors eroding the perceived value of Ecolab's service model and targeting price-sensitive customers could put pressure on its operating income margins.
- Supply Chain Disruptions and Rising Raw Material Costs: Ecolab is vulnerable to global supply chain challenges, including shortages of raw materials and transportation delays. The company also faces persistent risks from rising raw material costs, which can impact its cost of goods sold and pressure operating margins. While Ecolab has demonstrated strong pricing power to offset some cost increases, ongoing volatility in input costs remains a material operational challenge.
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Ecolab (ECL) Addressable Market Sizes
- Water and Wastewater Treatment: The global water and wastewater treatment market was valued at approximately USD 372.39 billion in 2025 and is projected to grow to USD 713.96 billion by 2034.
- Industrial and Institutional Cleaning and Sanitizing Solutions: The global industrial and institutional cleaning chemicals market was estimated at USD 86.46 billion in 2025 and is projected to reach USD 156.99 billion by 2033.
- Food and Beverage Disinfection: The global food and beverage disinfection market size was valued at USD 10.35 billion in 2025 and is projected to grow to USD 14.85 billion by 2034.
- Infection Prevention and Surgical Solutions (Healthcare): The global infection control market size was valued at USD 56.73 billion in 2025 and is projected to grow to USD 97.55 billion by 2034.
- Pest Elimination Services: The global pest control market size was valued at USD 26.68 billion in 2024 and is expected to reach USD 40.33 billion by 2032.
- Colloidal Silica: The global colloidal silica market size was valued at USD 3.0 billion in 2024 and is poised to grow to USD 5.24 billion by 2033.
- Commercial Laundry: The global commercial laundry market size was valued at USD 6.88 billion in 2024 and is poised to grow to USD 11.42 billion by 2033.
- Hospitality Cleaning Services: The global hospitality cleaning services market size was valued at USD 17.2 billion in 2024 and is expected to grow to USD 30.5 billion by 2035.
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- Expansion of Global High-Tech Segment and Ovivo Electronics Acquisition: Ecolab's Global High-Tech segment, which serves semiconductor and data center industries, including those focused on artificial intelligence (AI), is a significant growth driver. This segment experienced double-digit growth in 2025. The recent acquisition of Ovivo Electronics is projected to nearly double the size of this business and enhance its capabilities in ultrapure water solutions. Ecolab is also developing liquid cooling solutions for AI data centers, further capitalizing on this high-growth market.
- Digital Solutions and Innovation: Ecolab Digital is a key growth engine, with annual sales approaching $400 million and growing over 20% in 2025. The company continues to invest in expanding its digital offerings, including AI-enabled solutions like "CIP IQ" and the "Pest Intelligence platform". A strong innovation pipeline, particularly focusing on digitally enabled solutions, is anticipated to contribute to future revenue.
- Sustained Value Pricing: Ecolab has demonstrated consistent pricing power, with "value pricing" being a significant contributor to organic sales growth in 2025. This strategy of implementing price increases is expected to continue supporting revenue growth and operating margin expansion in the coming years.
- Growth in Core Businesses and "One Ecolab" Initiative: Management is focused on accelerating the total value delivered to customers across its core businesses through the "One Ecolab" growth initiative. This initiative aims for broad-based momentum across Ecolab’s portfolio, with particular strength noted in the Food & Beverage, Pest Elimination, Life Sciences, and Specialty segments.
- Accelerating Life Sciences Segment: The Life Sciences segment, especially its bioprocessing sub-segment, is considered a significant growth engine. This area experienced strong growth in 2025, with bioprocessing growing by nearly 75%, and is expected to unlock further growth opportunities due to capacity expansion and market demand.
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Share Repurchases
- Ecolab had significant annual share repurchases of $986.5 million in 2024.
- In 2025, the company repurchased $784 million of its shares to manage its capital structure and offset dilution from equity compensation plans.
- Between October 1, 2025, and December 31, 2025, Ecolab repurchased 1.5 million shares for $399.83 million.
Share Issuance
- Ecolab's shares outstanding have shown a general decline, with 0.284 billion shares outstanding at the end of December 2025, a 0.84% decrease year-over-year.
Outbound Investments
- Ecolab acquired Purolite, a separation technology company, for $3.7 billion in cash, with the transaction expected to close in Q4 2021, to enhance its high-growth life sciences business.
- In August 2025, Ecolab entered into an agreement to acquire Ovivo's Electronics business, which specializes in ultra-pure water technologies for semiconductor manufacturing, for approximately $1.8 billion (USD). This acquisition was expected to close in Q1 2026.
- Ecolab has made 13 investments in various sectors, including GRC Software, Waste & Water Management, and Food Tech, with its latest investment being a Series B round in Membrion on June 16, 2025.
Capital Expenditures
- Ecolab's capital expenditures increased from $643 million in 2021 to $994.5 million in December 2024.
- For the fiscal year ending December 31, 2025, capital expenditures amounted to $1 billion.
- Ecolab projects its capital expenditures to be $1,048 million in 2025, $1,123 million in 2026, and $1,133 million in 2027, focusing on new production initiatives and investments in process control and monitoring equipment and technology to enhance product offerings and improve operational efficiency.
Peer Outperformance in Specialty Chemicals
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Steel | 14 | 23.6% | 50.8% | 138.2% | STLD 308% · HCC 297% · RS 224% |
| Copper | 7 | 35.9% | 105.5% | 132.9% | SCCO 265% · TGB 249% · HBM 215% |
| Gold | 36 | 0.6% | 156.7% | 91.5% | IAG 458% · OGC 344% · AGI 283% |
| Silver | 6 | 17.5% | 240.6% | 68.9% | AYA 209% · HL 139% · EXK 43% |
| Construction Materials | 6 | -11.4% | 25.2% | 47.9% | USLM 360% · CRH 102% · VMC 54% |
| Aluminum | 3 | 13.8% | 128.1% | 43.5% | CENX 155% · AA -10% |
| Metal, Glass & Plastic Containers | 11 | 7.4% | 18.2% | 9.2% | GEF 49% · ATR 21% · SLGN 9% |
| Paper & Plastic Packaging Products & Materials | 7 | 22.9% | 23.6% | 0.8% | PKG 117% · CCK 21% · SON 4% |
| Diversified Metals & Mining | 24 | -54.8% | -6.7% | -8.3% | USAR 32182% · MTRN 215% · SKE 155% |
| Diversified Chemicals | 3 | 13.0% | 5.9% | -14.0% | CBT 55% · ASH -14% · CC -43% |
| Specialty Chemicals ← | 41 | 11.0% | 8.9% | -17.2% | NEU 155% · ESI 61% · ECL 44% |
| Commodity Chemicals | 13 | 8.1% | -14.4% | -33.4% | HWKN 336% · MEOH 74% · DOW -18% |
| Precious Metals & Minerals | 8 | -15.1% | 133.5% | -48.9% | PPTA 250% |
| Fertilizers & Agricultural Chemicals | 10 | -42.4% | -54.6% | -60.7% | CF 141% · NTR 18% · SMG -49% |
| Paper Products | 4 | -38.4% | -62.0% | -82.6% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 179.97 |
| Mkt Cap | 20.6 |
| Rev LTM | 6,379 |
| Op Inc LTM | 1,015 |
| FCF LTM | 799 |
| FCF 3Y Avg | 719 |
| CFO LTM | 1,165 |
| CFO 3Y Avg | 973 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.4% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 6.7% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 7.3% |
| Op Inc Chg 3Y Avg | 10.0% |
| Op Mgn LTM | 18.2% |
| Op Mgn 3Y Avg | 17.6% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 19.3% |
| CFO/Rev 3Y Avg | 17.7% |
| FCF/Rev LTM | 12.9% |
| FCF/Rev 3Y Avg | 12.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Water | 7,680 | 7,483 | 7,284 | ||
| Global Institutional & Specialty | 5,962 | 5,979 | 5,779 | 4,433 | 3,857 |
| Global Pest Elimination | 1,219 | 1,140 | 1,044 | 964 | |
| Global Life Sciences | 706 | 670 | 651 | 1,534 | 1,101 |
| Effect of foreign currency translation | 514 | 468 | 519 | -5 | 567 |
| Corporate | 0 | 0 | 42 | 89 | 137 |
| Global Industrial | 7,173 | 5,908 | |||
| Other | 1,162 | ||||
| Total | 16,081 | 15,741 | 15,320 | 14,188 | 12,733 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global Institutional & Specialty | 1,358 | 1,202 | 856 | 632 | 537 |
| Global Water | 1,264 | 1,207 | 1,042 | ||
| Global Pest Elimination | 237 | 210 | 201 | 197 | |
| Global Life Sciences | 121 | 92 | 119 | 193 | 141 |
| Effect of foreign currency translation | 111 | 104 | 103 | 5 | 110 |
| Corporate | -353 | -12 | -329 | -414 | -314 |
| Global Industrial | 949 | 943 | |||
| Other | 181 | ||||
| Total | 2,738 | 2,802 | 1,992 | 1,562 | 1,599 |
| $ Mil | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|
| Global Water, Paper & Energy | 11,215 | ||||
| International Cleaning, Sanitizing & Other Services | 2,635 | ||||
| U.S Cleaning & Sanitizing | 2,146 | ||||
| Corporate | 1,414 | 2,126 | 433 | 297 | 249 |
| United States Other Services | 162 | 154 | 149 | ||
| International | 2,608 | 2,413 | 2,525 | ||
| Legacy Nalco | 11,082 | ||||
| United States Cleaning & Sanitizing | 2,271 | 1,876 | 1,999 | ||
| Other Services | 199 | ||||
| FOREIGN CURRENCYTRANSLATION | -352 | ||||
| INTERNATIONAL | 2,675 | ||||
| U.S.CLEANING &SANITIZING | 1,979 | ||||
| U.S.OTHER SERVICES | 206 | ||||
| Total | 17,572 | 18,241 | 4,872 | 5,021 | 4,757 |
Price Behavior
| Market Price | $302.98 | |
| Market Cap ($ Bil) | 85.0 | |
| First Trading Date | 01/05/1988 | |
| Distance from 52W High | -0.9% | |
| 50 Days | 200 Days | |
| DMA Price | $281.73 | $274.80 |
| DMA Trend | up | up |
| Distance from DMA | 7.5% | 10.3% |
| 3M | 1YR | |
| Volatility | 17.1% | 21.1% |
| Downside Capture | 7.17 | 41.53 |
| Upside Capture | 36.01 | 52.17 |
| Correlation (S&P 500) | 13.7% | 29.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.05 | 0.14 | 0.16 | 0.18 | 0.45 | 0.52 |
| Up Beta | 1.83 | -0.08 | 0.27 | -0.03 | 0.62 | 0.52 |
| Down Beta | -0.03 | -0.24 | -0.15 | 0.35 | 0.45 | 0.49 |
| Up Capture | 74% | 55% | 41% | 33% | 38% | 30% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 16 | 23 | 35 | 67 | 131 | 410 |
| Down Capture | -84% | -5% | -9% | -3% | 40% | 74% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 6 | 20 | 29 | 59 | 120 | 342 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECL | |
|---|---|---|---|---|
| ECL | 19.0% | 21.1% | 0.72 | - |
| Sector ETF (XLB) | 22.5% | 17.6% | 0.98 | 66.8% |
| Equity (SPY) | 10.9% | 12.8% | 0.52 | 27.3% |
| Gold (GLD) | -2.0% | 28.6% | -0.08 | 15.8% |
| Commodities (DBC) | 48.2% | 20.6% | 1.79 | -39.3% |
| Real Estate (VNQ) | 10.2% | 13.7% | 0.45 | 49.8% |
| Bitcoin (BTCUSD) | -30.0% | 43.5% | -0.70 | 1.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECL | |
|---|---|---|---|---|
| ECL | 7.7% | 24.1% | 0.27 | - |
| Sector ETF (XLB) | 6.5% | 19.1% | 0.22 | 66.1% |
| Equity (SPY) | 12.2% | 17.1% | 0.53 | 57.9% |
| Gold (GLD) | 16.2% | 19.0% | 0.68 | 10.2% |
| Commodities (DBC) | 9.2% | 19.5% | 0.35 | -6.7% |
| Real Estate (VNQ) | 0.9% | 18.9% | -0.06 | 57.9% |
| Bitcoin (BTCUSD) | 4.9% | 51.6% | 0.28 | 19.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ECL | |
|---|---|---|---|---|
| ECL | 11.2% | 25.1% | 0.43 | - |
| Sector ETF (XLB) | 10.5% | 20.7% | 0.45 | 72.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 66.7% |
| Gold (GLD) | 11.4% | 16.5% | 0.56 | 7.8% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 9.8% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.21 | 62.2% |
| Bitcoin (BTCUSD) | 61.8% | 66.2% | 1.02 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | 0.8% | ||
| 7/28/2026 | 4.2% | 3.0% | 6.7% |
| 4/28/2026 | -0.3% | -4.6% | -2.0% |
| 2/10/2026 | 4.0% | 5.4% | -3.9% |
| 10/28/2025 | -4.1% | -8.0% | -2.2% |
| 7/29/2025 | -3.9% | -2.1% | 3.4% |
| 4/29/2025 | 3.3% | 6.7% | 9.9% |
| 2/11/2025 | 6.2% | 8.2% | 3.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 12 |
| # Negative | 11 | 11 | 12 |
| Median Positive | 3.3% | 3.0% | 4.6% |
| Median Negative | -4.1% | -4.7% | -3.2% |
| Max Positive | 7.1% | 9.6% | 18.5% |
| Max Negative | -9.0% | -11.9% | -9.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/27/2026 | 0.8% | ||
| 7/28/2026 | 4.2% | 3.0% | 6.7% |
| 4/28/2026 | -0.3% | -4.6% | -2.0% |
| 2/10/2026 | 4.0% | 5.4% | -3.9% |
| 10/28/2025 | -4.1% | -8.0% | -2.2% |
| 7/29/2025 | -3.9% | -2.1% | 3.4% |
| 4/29/2025 | 3.3% | 6.7% | 9.9% |
| 2/11/2025 | 6.2% | 8.2% | 3.8% |
| 10/29/2024 | -1.0% | -4.7% | -3.5% |
| 7/30/2024 | -7.7% | -6.7% | 0.3% |
| 4/30/2024 | 2.0% | 3.3% | 2.0% |
| 3/15/2024 | 0.9% | 1.4% | -2.5% |
| 10/31/2023 | 5.4% | 9.6% | 18.5% |
| 8/1/2023 | 1.1% | 0.7% | -0.0% |
| 5/2/2023 | 3.3% | 2.4% | -2.2% |
| 2/14/2023 | 7.1% | 7.0% | 7.7% |
| 11/1/2022 | -9.0% | -11.9% | -4.6% |
| 7/26/2022 | -2.7% | 2.6% | 2.9% |
| 4/26/2022 | -4.1% | -5.7% | -9.8% |
| 2/15/2022 | 0.2% | -3.4% | -6.3% |
| 10/26/2021 | 3.9% | 0.4% | 5.4% |
| 7/27/2021 | 0.8% | -0.5% | 1.5% |
| 4/27/2021 | -3.7% | 0.1% | -5.2% |
| 2/16/2021 | -4.1% | -6.1% | -2.9% |
| 10/27/2020 | -4.2% | -4.7% | 10.7% |
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 12 |
| # Negative | 11 | 11 | 12 |
| Median Positive | 3.3% | 3.0% | 4.6% |
| Median Negative | -4.1% | -4.7% | -3.2% |
| Max Positive | 7.1% | 9.6% | 18.5% |
| Max Negative | -9.0% | -11.9% | -9.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/29/2026 | 10-Q |
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
Recent Forward Guidance
Updated 10/28/2026Latest: Q3 2026 Earnings Reported 10/27/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Quantifiable Special Charges Per Share | Reported | 0.26 | ||||||
| Q4 2026 Reported Sales Growth | Reported | 12.0% | 13.0% | 14.0% | ||||
| Q4 2026 Organic Sales Growth | Reported | 6.0% | 6.5% | 7.0% | ||||
| Q4 2026 Adjusted Operating Income Margin | Reported | 19.0% | ||||||
| Q4 2026 Organic Operating Income Margin | Reported | 20.0% | ||||||
| Q4 2026 Adjusted Diluted EPS | Reported | 2.13 | 2.18 | 2.23 | 0.0% | Same New | Guidance: 2.18 for Q3 2026 | |
| Q4 2026 Adjusted Diluted EPS Growth | Reported | 2.0% | 4.5% | 7.0% | ||||
| 2026 Quantifiable Special Charges Per Share | Reported | 0.83 | ||||||
| 2026 Adjusted Diluted EPS | Reported | 8.1 | 8.15 | 8.2 | 0.0% | Affirmed | Guidance: 8.15 for 2026 | |
| 2026 Adjusted Diluted EPS Growth | Reported | 8.0% | 8.5% | 9.0% | ||||
| 2027 Organic Sales Growth | Reported | 5.0% | 7.0% | 7.0% | ||||
| 2027 Adjusted Operating Income Margin | Reported | 20.0% | ||||||
| 2027 Adjusted EPS Growth | Reported | 12.0% | 13.5% | 15.0% | ||||
Prior: Q2 2026 Earnings Reported 7/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Adjusted Diluted EPS | Reported | 2.13 | 2.18 | 2.23 | 5.3% | Higher New | Guidance: 2.07 for Q2 2026 | |
| 2026 Reported Sales Growth | Reported | 12.0% | 13.0% | 14.0% | 3.0% | Raised | Guidance: 10.0% for 2026 | |
| 2026 Organic Sales Growth | Reported | 6.0% | 6.5% | 7.0% | 0.0% | Affirmed | Guidance: 6.5% for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 8.05 | 8.15 | 8.25 | 1.5% | Raised | Guidance: 8.53 for 2026 | |
Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Adjusted Diluted EPS | Reported | 2.02 | 2.07 | 2.12 | ||||
| Q2 2026 Adjusted Diluted EPS Growth | Reported | 7.0% | 9.5% | 12.0% | ||||
| 2026 Reported Sales Growth | Reported | 9.0% | 10.0% | 11.0% | 2.0% | Raised | Guidance: 8.0% for 2026 | |
| 2026 Organic Sales Growth | Reported | 6.0% | 6.5% | 7.0% | 3.0% | Raised | Guidance: 3.5% for 2026 | |
| 2026 Adjusted Operating Income Growth | Reported | 14.0% | 15.0% | 16.0% | 0 | Affirmed | Guidance: 15.0% for 2026 | |
| 2026 Adjusted Operating Income Margin | Reported | 19.0% | ||||||
| 2026 Adjusted Diluted EPS | Reported | 8.43 | 8.53 | 8.63 | 0 | Affirmed | Guidance: 8.53 for 2026 | |
| 2026 Adjusted Diluted EPS Growth | Reported | 12.0% | 13.5% | 15.0% | 0 | Affirmed | Guidance: 13.5% for 2026 | |
Q4 2025 Earnings Reported 2/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted Diluted EPS | Reported | 1.67 | 1.7 | 1.73 | ||||
| Q1 2026 Adjusted Diluted EPS Growth | Reported | 11.0% | 13.0% | 15.0% | ||||
| 2026 Reported Sales Growth | Reported | 7.0% | 8.0% | 9.0% | ||||
| 2026 Organic Sales Growth | Reported | 3.0% | 3.5% | 4.0% | ||||
| 2026 Adjusted Operating Income Growth | Reported | 14.0% | 15.0% | 16.0% | ||||
| 2026 Adjusted Diluted EPS | Reported | 8.43 | 8.53 | 8.63 | ||||
| 2026 Adjusted Diluted EPS Growth | Reported | 12.0% | 13.5% | 15.0% | 0.0% | Affirmed | Guidance: 13.5% for 2026 | |
Insider Activity
Updated 10/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Green, Eric Mark | Direct | Buy | 9142026 | 276.64 | 3,690 | 1,020,798 | 2,198,527 | Form | |
| 2 | Beck, Christophe | CHAIRMAN, PRESIDENT & CEO | Direct | Sell | 8202026 | 280.14 | 17,862 | 5,003,825 | 20,431,058 | Form |
| 3 | Cook, Gregory B | Co-COO - Global Businesses | Direct | Sell | 8112026 | 285.13 | 4,567 | 1,302,300 | 3,328,411 | Form |
| 4 | Kirkland, Scott D | CHIEF FINANCIAL OFFICER | Direct | Sell | 7312026 | 276.96 | 3,357 | 929,755 | 4,853,561 | Form |
| 5 | Clark, Benjamin M | EVP - Global Supply Chain | Direct | Buy | 6152026 | 263.83 | 1,000 | 263,831 | 285,618 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Green, Eric Mark | Direct | Buy | 9142026 | 276.64 | 3,690 | 1,020,798 | 2,198,527 | Form | |
| 2 | Beck, Christophe | CHAIRMAN, PRESIDENT & CEO | Direct | Sell | 8202026 | 280.14 | 17,862 | 5,003,825 | 20,431,058 | Form |
| 3 | Cook, Gregory B | Co-COO - Global Businesses | Direct | Sell | 8112026 | 285.13 | 4,567 | 1,302,300 | 3,328,411 | Form |
| 4 | Kirkland, Scott D | CHIEF FINANCIAL OFFICER | Direct | Sell | 7312026 | 276.96 | 3,357 | 929,755 | 4,853,561 | Form |
| 5 | Clark, Benjamin M | EVP - Global Supply Chain | Direct | Buy | 6152026 | 263.83 | 1,000 | 263,831 | 285,618 | Form |
| 6 | Doukeris, Michel D | Direct | Buy | 6112026 | 258.00 | 7,750 | 1,999,500 | 2,148,175 | Form | |
| 7 | Brown, Darrell R | Co-COO - Global Markets | Direct | Sell | 6102026 | 260.89 | 10,000 | 2,608,870 | 8,539,709 | Form |
| 8 | Vautrinot, Suzanne M | Direct | Sell | 5272026 | 264.98 | 1,004 | 266,040 | 3,087,340 | Form | |
| 9 | MacLennan, David | Direct | Buy | 5142026 | 250.65 | 1,000 | 250,650 | 6,323,902 | Form | |
| 10 | MacLennan, David | Direct | Buy | 5052026 | 256.91 | 800 | 205,530 | 6,224,980 | Form | |
| 11 | Cook, Gregory B | EVP & PRES - INST GROUP | Direct | Sell | 2272026 | 304.25 | 3,519 | 1,070,656 | 3,551,630 | Form |
| 12 | McKibben, Tracy B | Direct | Sell | 2262026 | 308.66 | 1,265 | 390,455 | 3,505,631 | Form | |
| 13 | Beck, Christophe | CHAIRMAN & CEO | Direct | Sell | 2252026 | 307.37 | 20,000 | 6,147,362 | 27,907,213 | Form |
| 14 | Alfano, Nicholas J | EVP & PRES - GLOBAL WATER | Direct | Sell | 2182026 | 303.58 | 9,501 | 2,884,314 | 1,433,395 | Form |
| 15 | Reich, Victoria | Direct | Sell | 2172026 | 301.08 | 1,000 | 301,080 | 7,579,897 | Form | |
| 16 | Bradway, Jennifer J | SVP & CORPORATE CONTROLLER | Direct | Sell | 2172026 | 302.01 | 613 | 185,132 | 1,421,368 | Form |
| 17 | MacLennan, David | Direct | Buy | 12082025 | 257.60 | 750 | 193,198 | 5,933,768 | Form | |
| 18 | De, Boo Alexander A | EVP & PRES - GLOBAL MARKETS | Direct | Sell | 11252025 | 268.25 | 1,422 | 381,452 | 1,535,893 | Form |
| 19 | Beck, Christophe | CHAIRMAN & CEO | Direct | Sell | 11132025 | 261.41 | 21,714 | 5,676,233 | 18,989,882 | Form |
Investor Activity (13F)
Updated Nov 1, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Mcdonald Capital Investors Inc/Ca | $77.7 Mil | 5.3% | 21 | Hold | 13F |
| Dudley & Shanley, Inc. | $27.9 Mil | 4.6% | 38 | Hold | 13F |
| Gates Foundation Trust | $1.4 Bil | 4.4% | 22 | Hold | 13F |
| Mirova US LLC | $311.2 Mil | 3.5% | 42 | TRIM -18.6% | 13F |
| Firetrail Investments PTY LTD | $10.3 Mil | 3.5% | 28 | TRIM -11.0% | 13F |
| Mar Vista Investment Partners LLC | $9.5 Mil | 1.0% | 35 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Gates Foundation Trust | $1.4 Bil | 4.4% | 22 | Hold | 13F |
| Mirova US LLC | $311.2 Mil | 3.5% | 42 | TRIM -18.6% | 13F |
| Mcdonald Capital Investors Inc/Ca | $77.7 Mil | 5.3% | 21 | Hold | 13F |
| Dudley & Shanley, Inc. | $27.9 Mil | 4.6% | 38 | Hold | 13F |
| Firetrail Investments PTY LTD | $10.3 Mil | 3.5% | 28 | TRIM -11.0% | 13F |
| Mar Vista Investment Partners LLC | $9.5 Mil | 1.0% | 35 | New | 13F |
Ecolab — Investor Video Playlist
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Specialty Chemicals Resources |
| SpecialChem |
| Chemical Week |
| ICIS |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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