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
Quarterly Data

Ecolab Inc., common-size consolidated balance sheet: assets (quarterly data)

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Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 1.70 5.01 7.57 6.53 6.95 5.72 7.57 7.44 0.89 0.65 0.41 0.38 0.57 1.02 0.27 0.87 1.06 1.05 1.34 1.10
Accounts receivable, net 11.69 13.30 12.58 12.48 12.54 12.82 12.47 12.78 13.40 13.07 13.19 12.86 13.26 13.29 13.21 12.75 12.89 12.76 12.53 12.27
Inventories 7.03 7.69 7.65 7.40 7.09 7.12 6.80 6.85 7.21 7.62 7.80 7.86 7.70 7.95 7.81 7.64 7.24 7.60 7.53 7.43
Other current assets 1.68 1.82 1.81 1.88 1.65 1.93 1.73 1.74 1.63 2.04 1.90 1.60 1.76 1.89 1.81 1.51 1.83 1.83 1.82 1.61
Current assets 22.10% 27.82% 29.61% 28.28% 28.23% 27.58% 28.57% 28.81% 23.14% 23.37% 23.30% 22.70% 23.30% 24.16% 23.10% 22.77% 23.03% 23.24% 23.21% 22.41%
Property, plant and equipment, net 15.51 17.12 16.61 16.91 17.24 17.39 17.36 17.55 18.95 18.53 18.57 18.53 19.11 18.93 18.84 18.73 18.57 18.22 17.91 17.82
Goodwill 38.03 34.17 33.30 33.61 33.14 32.92 31.85 32.37 34.75 34.66 34.73 35.00 35.26 35.46 36.04 36.18 35.90 36.03 35.87 36.14
Other intangible assets, net 19.92 16.12 15.78 16.29 16.42 16.71 16.70 16.08 17.60 17.89 18.13 18.53 18.92 19.14 19.60 19.88 20.13 20.34 20.80 21.26
Operating lease assets 1.87 2.11 2.11 2.27 2.34 2.40 2.43 2.50 2.77 2.74 2.64 2.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other assets 2.57 2.66 2.59 2.64 2.63 3.00 3.09 2.69 2.80 2.81 2.63 2.51 3.41 2.32 2.43 2.44 2.38 2.17 2.19 2.38
Noncurrent assets 77.90% 72.18% 70.39% 71.72% 71.77% 72.42% 71.43% 71.19% 76.86% 76.63% 76.70% 77.30% 76.70% 75.84% 76.90% 77.23% 76.97% 76.76% 76.79% 77.59%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The asset composition of the balance sheet exhibits a long-term stability in core operational components, interrupted by a significant shift in liquidity management during 2020 and a structural change in intangible assets by the end of 2021.

Liquidity and Current Asset Trends
Current assets remained relatively constant between 22% and 24% of total assets from early 2017 through late 2019. A marked increase is observed starting in March 2020, where current assets rose to approximately 28-29%. This surge was driven almost exclusively by cash and cash equivalents, which climbed from under 1% of total assets to a peak of 7.57% in June 2020 and June 2021. By December 31, 2021, this liquidity position normalized, with cash returning to 1.70% and total current assets reverting to 22.10%.
Accounts receivable and inventories displayed minimal volatility. Accounts receivable consistently represented 12% to 13% of total assets throughout the period, while inventories remained stable between 6.8% and 8.0%, suggesting consistent working capital management relative to the total asset base.
Noncurrent Asset Evolution
Property, plant, and equipment (PP&E) demonstrated a gradual downward trend, declining from 17.82% in March 2017 to 15.51% by December 2021, indicating a reduction in the relative weight of tangible fixed assets.
Goodwill and intangible assets constitute the largest portion of the asset base. Goodwill remained steady near 35% for several years before dipping to approximately 32% in 2020 and subsequently spiking to 38.03% in December 2021. Similarly, other intangible assets trended downward from 21.26% in 2017 to 15.78% in June 2021, followed by a sharp increase to 19.92% in December 2021. The simultaneous increase in both goodwill and intangible assets at the end of 2021 suggests a significant acquisition or asset purchase.
Structural Composition Shifts
Noncurrent assets generally dominated the balance sheet, typically representing over 75% of total assets. The only significant deviation occurred during 2020, when the increase in cash holdings compressed the noncurrent asset share to approximately 70-72%. The introduction of operating lease assets in 2019, maintaining a share of approximately 2%, reflects a change in accounting standards rather than a shift in operational strategy.

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