Cash flow Ecolab Inc.

Equities

ECL

US2788651006

Specialty Chemicals

Market Closed - Nyse Other stock markets 04:00:02 2025-02-14 pm EST			5-day change	1st Jan Change
264.74 ^USD	-0.27%		+7.01%	+12.98%

Feb. 12	BMO Capital Adjusts Ecolab Price Target to $295 From $290	MT
Feb. 12	Argus Adjusts Price Target on Ecolab to $290 From $280, Maintains Buy Rating	MT

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Published financial data: ECOLAB INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	14.91B	11.79B	12.73B	14.19B	15.32B
Total Revenues	14.91B	11.79B	12.73B	14.19B	15.32B
Cost of Goods Sold, Total	8.68B	6.86B	7.52B	8.76B	9.13B
Gross Profit	6.22B	4.93B	5.21B	5.43B	6.19B
Selling General & Admin Expenses, Total	3.87B	3.25B	3.34B	3.58B	4B
Other Operating Expenses, Total	3.87B	3.25B	3.34B	3.58B	4B
Operating Income	2.35B	1.68B	1.87B	1.85B	2.18B
Interest Expense, Total	-215M	-221M	-198M	-252M	-349M
Interest And Investment Income	24.1M	14.6M	12.3M	8.5M	52.2M
Net Interest Expenses	-191M	-206M	-185M	-244M	-297M
Other Non Operating Income (Expenses)	2M	-4.3M	-1.6M	-1M	2.7M
EBT, Excl. Unusual Items	2.16B	1.47B	1.68B	1.6B	1.89B
Restructuring Charges	-139M	-79.1M	-36.6M	-107M	-85.7M
Merger & Related Restructuring Charges	-13.4M	-13.1M	-34.9M	-39.5M	-16.1M
Asset Writedown	-	-	-	-	-
Other Unusual Items	-107M	-220M	-195M	-114M	-32.1M
EBT, Incl. Unusual Items	1.9B	1.16B	1.41B	1.34B	1.76B
Income Tax Expense	323M	177M	270M	234M	362M
Earnings From Continuing Operations	1.58B	985M	1.14B	1.11B	1.39B
Earnings Of Discontinued Operations	-	-2.17B	-	-	-
Net Income to Company	1.58B	-1.19B	1.14B	1.11B	1.39B
Minority Interest	-17.3M	-17.4M	-14.1M	-17.2M	-20.7M
Net Income - (IS)	1.56B	-1.21B	1.13B	1.09B	1.37B
Net Income to Common Incl Extra Items	1.56B	-1.21B	1.13B	1.09B	1.37B
Net Income to Common Excl. Extra Items	1.56B	967M	1.13B	1.09B	1.37B
Per Share Items
Net EPS - Basic	5.41	-4.2	3.95	3.83	4.82
Basic EPS - Continuing Operations	5.41	3.37	3.95	3.83	4.82
Basic Weighted Average Shares Outstanding	288M	287M	286M	285M	285M
Net EPS - Diluted	5.33	-4.15	3.91	3.81	4.79
Diluted EPS - Continuing Operations	5.33	3.33	3.91	3.81	4.79
Diluted Weighted Average Shares Outstanding	292M	290M	289M	287M	286M
Normalized Basic EPS	4.62	3.15	3.62	3.46	4.07
Normalized Diluted EPS	4.55	3.11	3.59	3.44	4.05
Dividend Per Share	1.85	1.89	1.95	2.06	2.16
Payout Ratio	35.6	-46.54	50.13	55.22	44.98
Supplemental Items
EBITDA	3.32B	2.5B	2.71B	2.79B	3.11B
EBITA	2.67B	1.9B	2.11B	2.17B	2.49B
EBIT	2.35B	1.68B	1.87B	1.85B	2.18B
EBITDAR	3.54B	2.68B	2.89B	2.98B	3.32B
Total Revenues (As Reported)	14.91B	11.79B	12.73B	14.19B	15.32B
Effective Tax Rate - (Ratio)	16.99	15.21	19.11	17.46	20.65
Current Domestic Taxes	135M	-43.9M	30.9M	146M	138M
Current Foreign Taxes	225M	260M	240M	231M	280M
Total Current Taxes	360M	216M	271M	377M	418M
Deferred Domestic Taxes	32.7M	12M	3.6M	-78.9M	-40.1M
Deferred Foreign Taxes	-70.4M	-51.3M	-4.5M	-63.7M	-15M
Total Deferred Taxes	-37.7M	-39.3M	-900K	-143M	-55.1M
Normalized Net Income	1.33B	903M	1.04B	986M	1.16B
Non-Cash Pension Expense	-54.5M	-49M	-37.1M	-26.9M	-62.2M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	209M	185M	186M	190M	192M
Net Rental Expense, Total	219M	184M	179M	197M	215M
Imputed Operating Lease Interest Expense	54.02M	46.64M	34.85M	43.68M	67.7M
Imputed Operating Lease Depreciation	165M	137M	145M	153M	148M
Stock-Based Comp., Other (Total)	91.1M	82.1M	89.5M	87.8M	95.1M
Total Stock-Based Compensation	91.1M	82.1M	89.5M	87.8M	95.1M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	186M	1.26B	360M	599M	920M
Total Cash And Short Term Investments	186M	1.26B	360M	599M	920M
Accounts Receivable, Total	2.8B	2.27B	2.48B	2.7B	2.83B
Other Receivables	134M	169M	151M	184M	187M
Total Receivables	2.93B	2.44B	2.63B	2.88B	3.02B
Inventory	1.51B	1.29B	1.49B	1.79B	1.5B
Prepaid Expenses	119M	99.1M	121M	124M	144M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	87.4M	30.5M	84.5M	96.7M	62.4M
Total Current Assets	4.83B	5.12B	4.69B	5.49B	5.64B
Gross Property Plant And Equipment	8.6B	7.21B	7.58B	7.7B	8.21B
Accumulated Depreciation	-4.07B	-3.66B	-3.89B	-3.96B	-4.18B
Net Property Plant And Equipment	4.53B	3.55B	3.69B	3.74B	4.03B
Goodwill	7.25B	6.01B	8.06B	8.01B	8.15B
Other Intangibles, Total	3.67B	2.98B	4.22B	3.68B	3.49B
Deferred Tax Assets Long-Term	156M	163M	121M	108M	119M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	428M	313M	425M	427M	413M
Total Assets	20.87B	18.13B	21.21B	21.46B	21.85B
Liabilities
Accounts Payable, Total	1.28B	1.16B	1.38B	1.73B	1.57B
Accrued Expenses, Total	1.09B	977M	1.05B	1.07B	1.32B
Short-term Borrowings	79.7M	15.5M	408M	3.7M	1.8M
Current Portion of Long-Term Debt	301M	1.8M	2.5M	501M	629M
Current Portion of Leases	153M	126M	115M	108M	126M
Current Income Taxes Payable	143M	96.1M	104M	198M	159M
Unearned Revenue Current, Total	84.7M	80.4M	91.7M	116M	111M
Other Current Liabilities	500M	475M	394M	482M	437M
Total Current Liabilities	3.63B	2.93B	3.55B	4.21B	4.35B
Long-Term Debt	5.97B	6.66B	8.34B	8.06B	7.54B
Long-Term Leases	429M	308M	291M	351M	439M
Pension & Other Post Retirement Benefits	1.09B	1.23B	894M	670M	652M
Deferred Tax Liability Non Current	740M	484M	622M	506M	418M
Other Non Current Liabilities	286M	312M	254M	406M	382M
Total Liabilities	12.14B	11.92B	13.95B	14.21B	13.77B
Common Stock, Total	360M	363M	364M	365M	366M
Additional Paid In Capital	5.91B	6.24B	6.46B	6.58B	6.77B
Retained Earnings	9.99B	8.24B	8.81B	9.32B	10.08B
Treasury Stock	-5.49B	-6.68B	-6.78B	-7.3B	-7.31B
Comprehensive Income and Other	-2.09B	-1.99B	-1.63B	-1.73B	-1.85B
Total Common Equity	8.69B	6.17B	7.22B	7.24B	8.04B
Minority Interest	40.5M	35M	28.9M	22.5M	27.5M
Total Equity	8.73B	6.2B	7.25B	7.26B	8.07B
Total Liabilities And Equity	20.87B	18.13B	21.21B	21.46B	21.85B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	288M	286M	287M	284M	286M
ECS Total Common Shares Outstanding	288M	286M	287M	284M	285M
Book Value / Share	30.11	21.58	25.18	25.43	28.18
Tangible Book Value	-2.24B	-2.82B	-5.06B	-4.46B	-3.6B
Tangible Book Value Per Share	-7.76	-9.86	-17.65	-15.67	-12.6
Total Debt	6.93B	7.11B	9.16B	9.03B	8.73B
Net Debt	6.75B	5.85B	8.8B	8.43B	7.81B
Debt Equivalent of Unfunded Proj. Benefit Obligation	910M	1.04B	646M	447M	443M
Debt Equivalent Oper. Leases	1.76B	1.47B	1.44B	1.58B	1.72B
Minority Interest, Total (Incl. Fin. Div)	40.5M	35M	28.9M	22.5M	27.5M
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	9.3M	-15.6M	-115M	-179M	-119M
Inventories - Raw Materials, Total	560M	511M	596M	849M	705M
Inventories - Finished Goods, Total	936M	790M	1.01B	1.12B	911M
Land - (BS)	215M	160M	159M	161M	156M
Buildings, Total	1.36B	1.06B	1.13B	1.13B	1.17B
Machinery, Total	5.26B	4.52B	4.68B	4.6B	4.87B
Full Time Employees	50.2K	44K	47K	47K	48K
Accumulated Allowance for Doubtful Accounts (Supple)	44M	84.3M	71.5M	131M	149M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	1.56B	-1.21B	1.13B	1.09B	1.37B
Depreciation & Amortization - CF	654M	594M	604M	618M	617M
Amortization of Goodwill and Intangible Assets - (CF)	319M	218M	239M	320M	307M
Depreciation & Amortization, Total	973M	813M	843M	939M	924M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Asset Writedown & Restructuring Costs	35.2M	7.8M	-41.7M	66.2M	-32.6M
Stock-Based Compensation (CF)	91.1M	82.1M	89.5M	87.8M	95.1M
Tax Benefit from Stock Options	-	-	-	-	-
Net Cash From Discontinued Operations	-	118M	-	-	-
Other Operating Activities, Total	-158M	2.25B	40.5M	-119M	-109M
Change In Accounts Receivable	-137M	156M	-178M	-320M	-84.3M
Change In Inventories	41M	-180M	-73M	-403M	320M
Change In Accounts Payable	22.3M	55.9M	200M	395M	-232M
Change in Other Net Operating Assets	-5.5M	-241M	51.4M	51.1M	159M
Cash from Operations	2.42B	1.86B	2.06B	1.79B	2.41B
Capital Expenditure	-801M	-489M	-643M	-713M	-775M
Sale of Property, Plant, and Equipment	10.9M	5.3M	12.2M	2.2M	9.9M
Cash Acquisitions	-391M	-487M	-3.92B	-7.2M	-180M
Divestitures	6.8M	116M	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Other Investing Activities, Total	-24.8M	440M	-25.2M	1M	-45.2M
Cash from Investing	-1.2B	-414M	-4.58B	-717M	-990M
Short Term Debt Issued, Total	-	-	394M	-	-
Long-Term Debt Issued, Total	-	1.86B	2.78B	494M	-
Total Debt Issued	-	1.86B	3.17B	494M	-
Short Term Debt Repaid, Total	-252M	-65.5M	-	-404M	-1.9M
Long-Term Debt Repaid, Total	-401M	-1.65B	-1.05B	-	-500M
Total Debt Repaid	-653M	-1.71B	-1.05B	-404M	-502M
Issuance of Common Stock	187M	242M	144M	29.1M	96.8M
Repurchase of Common Stock	-354M	-146M	-107M	-518M	-13.7M
Common Dividends Paid	-555M	-561M	-566M	-603M	-617M
Common & Preferred Stock Dividends Paid	-555M	-561M	-566M	-603M	-617M
Other Financing Activities, Total	24.8M	-19.6M	11.4M	165M	-18.6M
Cash from Financing	-1.35B	-342M	1.6B	-837M	-1.05B
Foreign Exchange Rate Adjustments	20.4M	-30.1M	14.3M	4.4M	-45.7M
Net Change in Cash	-108M	1.07B	-900M	239M	321M
Supplemental Items
Cash Interest Paid	-	-	-	-	-
Cash Income Tax Paid (Refund)	356M	367M	276M	309M	469M
Levered Free Cash Flow	1.67B	1.83B	1.1B	1.31B	1.55B
Unlevered Free Cash Flow	1.81B	1.97B	1.22B	1.47B	1.77B
Change In Net Working Capital	-75.8M	-514M	232M	-1.5M	-163M
Net Debt Issued / Repaid	-653M	143M	2.12B	89.7M	-502M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	7.17	5.4	5.94	5.42	6.3
Return on Total Capital	9.54	7.29	7.85	7.07	8.25
Return On Equity %	18.79	13.19	17.01	15.28	18.17
Return on Common Equity	18.68	13.03	16.88	15.1	17.96
Margin Analysis
Gross Profit Margin %	41.74	41.84	40.93	38.25	40.39
SG&A Margin	25.99	27.55	26.26	25.22	26.14
EBITDA Margin %	22.28	21.18	21.29	19.65	20.28
EBITA Margin %	17.89	16.14	16.54	15.29	16.26
EBIT Margin %	15.75	14.28	14.67	13.03	14.25
Income From Continuing Operations Margin %	10.57	8.35	8.98	7.82	9.09
Net Income Margin %	10.46	-10.22	8.87	7.69	8.96
Net Avail. For Common Margin %	10.46	8.21	8.87	7.69	8.96
Normalized Net Income Margin	8.94	7.66	8.14	6.95	7.57
Levered Free Cash Flow Margin	11.22	15.55	8.65	9.26	10.14
Unlevered Free Cash Flow Margin	12.12	16.73	9.62	10.37	11.57
Asset Turnover
Asset Turnover	0.73	0.6	0.65	0.66	0.71
Fixed Assets Turnover	3.56	3.26	3.52	3.82	3.94
Receivables Turnover (Average Receivables)	5.46	5.06	5.36	5.48	5.54
Inventory Turnover (Average Inventory)	5.69	5.79	5.42	5.33	5.55
Short Term Liquidity
Current Ratio	1.33	1.75	1.32	1.3	1.3
Quick Ratio	0.86	1.26	0.84	0.83	0.91
Operating Cash Flow to Current Liabilities	0.67	0.63	0.58	0.42	0.55
Days Sales Outstanding (Average Receivables)	66.84	72.26	68.11	66.59	65.9
Days Outstanding Inventory (Average Inventory)	64.13	63.16	67.38	68.42	65.75
Average Days Payable Outstanding	53.62	57.95	60.09	62.68	68.04
Cash Conversion Cycle (Average Days)	77.34	77.48	75.4	72.33	63.61
Long Term Solvency
Total Debt/Equity	79.45	114.69	126.23	124.36	108.19
Total Debt / Total Capital	44.27	53.42	55.8	55.43	51.97
LT Debt/Equity	73.33	112.39	118.98	115.91	98.82
Long-Term Debt / Total Capital	40.86	52.35	52.59	51.66