Stock Analysis on Net
Stock Analysis on Net

Ecolab Inc. (NYSE:ECL)

This company has been moved to the archive! The financial data has not been updated since February 25, 2022.

Common-Size Balance Sheet: Assets

Ecolab Inc., common-size consolidated balance sheet: assets

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Cash and cash equivalents 1.70 6.95 0.89 0.57 1.06
Accounts receivable, net 11.69 12.54 13.40 13.26 12.89
Inventories 7.03 7.09 7.21 7.70 7.24
Prepaid assets 0.57 0.55 0.57 0.66 0.77
Taxes receivable 0.71 0.93 0.64 0.72 0.65
Derivative assets 0.29 0.02 0.26 0.21 0.14
Other 0.11 0.15 0.16 0.17 0.27
Other current assets 1.68% 1.65% 1.63% 1.76% 1.83%
Current assets 22.10% 28.23% 23.14% 23.30% 23.03%
Property, plant and equipment, net 15.51 17.24 18.95 19.11 18.57
Goodwill 38.03 33.14 34.75 35.26 35.90
Other intangible assets, net 19.92 16.42 17.60 18.92 20.13
Operating lease assets 1.87 2.34 2.77 0.00 0.00
Deferred income taxes 0.57 0.90 0.75 0.52 0.51
Pension 0.54 0.18 0.15 0.19 0.21
Derivative asset 0.14 0.00 0.12 0.06 0.00
Restricted cash 0.00 0.00 0.00 0.89 0.00
Other 1.33 1.54 1.78 1.74 1.65
Other assets 2.57% 2.63% 2.80% 3.41% 2.38%
Noncurrent assets 77.90% 71.77% 76.86% 76.70% 76.97%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The asset structure is characterized by a heavy concentration of noncurrent assets, which consistently represent between 71.77% and 77.90% of the total asset base over the analyzed period. Current assets maintain a relatively stable presence, typically hovering around 23%, with a notable exception in 2020 when they increased to 28.23%.

Liquidity and Current Asset Trends
Cash and cash equivalents remained minimal for the majority of the period, generally staying below 2%. However, a significant spike occurred in 2020, where cash reached 6.95% of total assets, before receding to 1.70% in 2021. Accounts receivable and inventories demonstrated high stability, with receivables averaging approximately 12.6% and inventories remaining constant at roughly 7% of total assets.
Intangible Asset Dominance
The balance sheet is heavily weighted toward intangible assets, specifically goodwill and other intangible assets, which together often exceed 50% of total assets. Goodwill fluctuated between 33.14% and 38.03%, reaching its peak in 2021. Other intangible assets showed a gradual downward trend from 20.13% in 2017 to 16.42% in 2020, followed by a sharp increase to 19.92% in 2021.
Fixed Asset and Long-term Trends
Property, plant, and equipment (PP&E), net, exhibited a consistent downward trend, decreasing from 18.57% in 2017 to 15.51% in 2021. This suggests a relative decrease in the company's investment in physical infrastructure relative to its total asset growth. Additionally, the appearance of operating lease assets starting in 2019 indicates a shift in accounting recognition, with these assets representing between 1.87% and 2.77% of total assets through 2021.
Other Noncurrent Asset Components
Other noncurrent assets, including deferred income taxes and pension assets, remained marginal, each typically representing less than 1% of total assets. The "Other assets" category remained relatively stable, fluctuating slightly between 1.33% and 3.41%.

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