Company Valuation: Ecolab Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 67,226 41,460 56,557 66,350 74,355 77,895 - -
Change - -38.33% 36.42% 17.32% 12.06% 4.76% - -
Enterprise Value (EV) 1 75,624 49,441 63,820 72,659 81,945 89,680 88,381 87,456
Change - -34.62% 29.08% 13.85% 12.78% 9.44% -1.45% -1.05%
P/E 60x 38.2x 41.4x 31.8x 36.1x 36.6x 29.8x 25.7x
PBR 9.3x 5.77x 7.06x 7.67x 7.58x 7.21x 6.23x 5.56x
PEG - -14.94x 1.6x 0.6x -29.56x 8.6x 1.3x 1.6x
Capitalization / Revenue 5.28x 2.92x 3.69x 4.22x 4.62x 4.35x 4.03x 3.79x
EV / Revenue 5.94x 3.48x 4.17x 4.62x 5.1x 5x 4.57x 4.25x
EV / EBITDA 28.6x 18.2x 20.9x 20.4x 21.1x 20.3x 17.8x 16.2x
EV / EBIT 42x 27.9x 30x 27.7x 28.3x 27.3x 23.1x 20.6x
EV / FCF 53.3x 46x 39x 39.9x 43x 48.4x 38.5x 34x
FCF Yield 1.88% 2.18% 2.57% 2.5% 2.32% 2.07% 2.59% 2.94%
Dividend per Share 2 1.95 2.06 2.16 2.36 2.68 2.941 3.125 3.349
Rate of return 0.83% 1.42% 1.09% 1.01% 1.02% 1.06% 1.12% 1.21%
EPS 2 3.91 3.81 4.79 7.37 7.28 7.59 9.336 10.8
Distribution rate 49.9% 54.1% 45.1% 32% 36.8% 38.8% 33.5% 31%
Net sales 1 12,733 14,188 15,320 15,741 16,081 17,924 19,348 20,571
EBITDA 1 2,642 2,712 3,050 3,554 3,877 4,417 4,961 5,390
EBIT 1 1,799 1,773 2,126 2,619 2,901 3,282 3,833 4,239
Net income 1 1,130 1,092 1,372 2,112 2,076 2,169 2,631 3,025
Net Debt 1 8,398 7,982 7,262 6,308 7,590 11,786 10,486 9,561
Reference price 2 234.59 145.56 198.35 234.32 262.52 277.87 277.87 277.87
Nbr of stocks (in thousands) 286,567 284,828 285,140 283,162 283,236 280,329 - -
Announcement Date 2/15/22 2/14/23 2/13/24 2/11/25 2/10/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
36.92x5.04x20.45x1.05% 78.56B
30.74x4.59x19.83x2.17% 37.94B
25.12x2.98x15.48x2.07% 35.8B
14.19x1.37x8.43x2.23% 25.48B
38.13x9.38x28.11x2.28% 23.29B
8.87x2.53x5.04x2.94% 18.61B
24.59x2.66x10.81x1.84% 17.69B
15.9x1.77x6.95x1.89% 14.67B
24x2.89x13.25x1.4% 14.52B
Average 24.27x 3.69x 14.26x 1.98% 29.62B
Weighted average by Cap. 27.75x 4.10x 16.36x 1.82%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield