Ecolab (ECL): analysis in plain words
Is Ecolab cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Ecolab (ECL) is listed on the NYSE and we classify it in materials and chemicals. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Ecolab according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Ecolab (ECL) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $315.01 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 42.9x | Price over earnings per share |
| Revenue growth | +12.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 12.0% | Profit for every 100 of sales |
| Net debt / EBITDA | 3.1x | Years of operating profit to repay debt |
| Dividend yield | 0.96% | Annual dividend over price |
| Market cap | $88.4 billion | What the stock market values it at |
The Ecolab figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ECL figure that is not available shows as N/A: we do not estimate it.
How Ecolab makes money
Ecolab provides cleaning, sanitation and water treatment products and services to restaurants, hotels, hospitals, factories and data centers. Its segments are Global Industrial, which includes Nalco Water, Global Institutional and Specialty, Global Healthcare and Life Sciences, and Global Pest Elimination for pest control.
Over the last 12 months, Ecolab brought in revenue of $17.4 billion. For every 100 it sells, Ecolab keeps 44.0 after the direct cost of what it sells (gross margin) and 19.2 after all operating costs (operating margin).
Ecolab against its sector
To know whether a Ecolab figure is high or low you have to put it next to similar companies. This table compares Ecolab with the median of the 10 materials and chemicals companies Fintols covers, with data as of November 4, 2026.
| Figure | Ecolab | materials and chemicals median |
|---|---|---|
| P/E | 42.9x | 28.5x (10) |
| Revenue growth | +12.7% | +9.2% (11) |
| Net margin | 12.0% | 10.7% (11) |
| Dividend yield | 0.96% | 0.99% (11) |
| Net debt / EBITDA | 3.1x | 2.0x (11) |
In short, against the typical materials and chemicals company, Ecolab trades on a higher P/E, grows faster and carries more debt. By size, Ecolab ranks number 4 of 7 materials and chemicals companies quoted in USD on Fintols.
The bull case for Ecolab
What works in favour of Ecolab, according to its figures as of November 4, 2026:
- Analysts expect Ecolab earnings to rise: its P/E on the next 12 months of estimated earnings is 33.5x, below the current 42.9x.
- Ecolab earns 20.8% a year on its shareholders' money (return on equity).
- Ecolab grew sales +12.7% in its latest quarter against the same quarter a year earlier, while the median materials and chemicals company Fintols tracks grew +9.2%.
The main risk for Ecolab
The price already assumes a lot: Ecolab trades at 42.9x its last 12 months of earnings, against 28.5x for the materials and chemicals median. If growth disappoints, the multiple can shrink and the share price with it.
On top of that: debt is heavy: Ecolab carries net debt equal to 3.1x its annual EBITDA. With high interest rates or a weak year, interest payments eat into what it can invest or pay out.
And, like the rest of materials and chemicals, Ecolab is exposed to the price of what it sells (metals, chemicals), which depends on the world economy and is out of its control.
Frequently asked questions about Ecolab
Is it a good time to buy Ecolab stock?
Fintols does not tell you whether to buy or sell Ecolab, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Ecolab stock trades at $315.01, 0% below its 52-week high ($315.58) and 30% above its low ($243.15). Its P/E is 42.9x against a materials and chemicals median of 28.5x, and 33.5x on the earnings analysts expect over the next 12 months. With Ecolab, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Ecolab pay a dividend?
Yes. As of November 4, 2026, Ecolab pays $2.92 per share a year, which at today's price is a yield of 0.96%. It uses 40% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Ecolab stock expensive?
It depends on what you compare it with. On P/E, Ecolab trades at 42.9x its last 12 months of earnings: more expensive than the materials and chemicals median (28.5x). Including its debt, Ecolab is valued at 23.0x its EBITDA (EV/EBITDA). A high P/E alone does not make Ecolab expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Ecolab's competitors?
On Fintols we compare Ecolab with Sherwin-Williams, Air Products and BASF, which are also in materials and chemicals. As of November 4, 2026, Sherwin-Williams is worth $87.8 billion and trades on a P/E of 33.4; Air Products is worth $71.0 billion; BASF is worth €46.7 billion and trades on a P/E of 24.1. Each has a side-by-side comparison with Ecolab below.
Ecolab competitors
- Sherwin-Williams (SHW) analysis · Ecolab vs Sherwin-Williams comparison
- Air Products (APD) analysis · Ecolab vs Air Products comparison
- BASF (BAS.DE) analysis · Ecolab vs BASF comparison
To understand Ecolab better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Ecolab: materials and chemicals stocks and S&P 500 companies. Open the full ECL analysis with its valuation and scenarios. Educational content about Ecolab, not investment advice.