Current Ratio
since 2005
Calculation
Ecolab Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2021 | 1.32 | = | 4,687,100) | ÷ | 3,553,200) |
| Dec 31, 2020 | 1.75 | = | 5,117,400) | ÷ | 2,932,200) |
| Dec 31, 2019 | 1.33 | = | 4,828,400) | ÷ | 3,630,600) |
| Dec 31, 2018 | 1.27 | = | 4,677,700) | ÷ | 3,685,600) |
| Dec 31, 2017 | 1.34 | = | 4,596,400) | ÷ | 3,431,800) |
| Dec 31, 2016 | 1.42 | = | 4,279,400) | ÷ | 3,019,400) |
| Dec 31, 2015 | 0.93 | = | 4,447,500) | ÷ | 4,764,400) |
| Dec 31, 2014 | 1.11 | = | 4,871,100) | ÷ | 4,386,600) |
| Dec 31, 2013 | 1.35 | = | 4,698,400) | ÷ | 3,488,700) |
| Dec 31, 2012 | 1.60 | = | 4,892,000) | ÷ | 3,052,700) |
| Dec 31, 2011 | 1.70 | = | 5,396,000) | ÷ | 3,166,300) |
| Dec 31, 2010 | 1.41 | = | 1,869,900) | ÷ | 1,324,800) |
| Dec 31, 2009 | 1.45 | = | 1,814,200) | ÷ | 1,250,200) |
| Dec 31, 2008 | 1.17 | = | 1,691,100) | ÷ | 1,441,900) |
| Dec 31, 2007 | 1.13 | = | 1,717,300) | ÷ | 1,518,300) |
| Dec 31, 2006 | 1.23 | = | 1,853,557) | ÷ | 1,502,730) |
| Dec 31, 2005 | 1.27 | = | 1,421,666) | ÷ | 1,119,357) |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The liquidity position from 2005 to 2021 is characterized by fluctuating current ratios and a significant structural expansion of the balance sheet beginning in 2011.
- Liquidity Trends and Ratio Volatility
- The current ratio exhibited an initial period of moderate decline from 1.27 in 2005 to 1.13 in 2007, followed by a recovery phase that peaked at 1.70 in 2011. A subsequent downward trajectory was observed between 2012 and 2015, during which the ratio reached its lowest point of 0.93. This indicates a period where current liabilities exceeded current assets, suggesting tightened short-term liquidity. A sharp recovery occurred in 2016, with the ratio rising to 1.42, before stabilizing between 1.27 and 1.34 from 2017 to 2019. A secondary peak of 1.75 was recorded in 2020, followed by a return to 1.32 in 2021.
- Balance Sheet Expansion
- A substantial increase in the scale of current accounts is evident in 2011. Current assets rose from 1.87 billion in 2010 to 5.40 billion in 2011, while current liabilities increased from 1.32 billion in 2010 to 3.17 billion in 2011. Following this shift, current assets remained relatively stable, oscillating between 4.28 billion and 5.12 billion through 2021.
- Current Liability Dynamics
- The decline in the current ratio between 2012 and 2015 was primarily driven by a steady increase in current liabilities, which peaked at 4.76 billion in 2015. The liquidity improvement observed in 2016 is attributable to a significant reduction in current liabilities to 3.02 billion. The peak liquidity ratio observed in 2020 resulted from the convergence of high current assets (5.12 billion) and the lowest level of current liabilities (2.93 billion) recorded since 2010.
AI Ask an analyst for more
Comparison to Competitors
Ecolab Inc., current ratio, long-term trends, comparison to competitors
| Ecolab Inc. | Linde plc | Sherwin-Williams Co. | |
|---|---|---|---|
| Dec 31, 2021 | 1.32 | 0.74 | 0.88 |
| Dec 31, 2020 | 1.75 | 0.80 | 1.00 |
| Dec 31, 2019 | 1.33 | 0.85 | 1.02 |
| Dec 31, 2018 | 1.27 | 1.33 | 1.01 |
| Dec 31, 2017 | 1.34 | 0.99 | 1.12 |
| Dec 31, 2016 | 1.42 | 1.16 | 1.28 |
| Dec 31, 2015 | 0.93 | 1.39 | 1.24 |
| Dec 31, 2014 | 1.11 | 1.14 | 0.96 |
| Dec 31, 2013 | 1.35 | 1.09 | 1.25 |
| Dec 31, 2012 | 1.60 | 1.13 | 1.68 |
| Dec 31, 2011 | 1.70 | 1.03 | 1.05 |
| Dec 31, 2010 | 1.41 | 1.13 | 1.07 |
| Dec 31, 2009 | 1.45 | 1.23 | 1.27 |
| Dec 31, 2008 | 1.17 | 0.77 | 0.99 |
| Dec 31, 2007 | 1.13 | 0.91 | 0.97 |
| Dec 31, 2006 | 1.23 | 1.17 | 1.18 |
| Dec 31, 2005 | 1.27 | 1.07 | 1.22 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Chemicals)
Ecolab Inc., current ratio, long-term trends, comparison to sector (chemicals)
| Ecolab Inc. | Chemicals | |
|---|---|---|
| Dec 31, 2021 | 1.32 | 0.79 |
| Dec 31, 2020 | 1.75 | 0.85 |
| Dec 31, 2019 | 1.33 | 0.90 |
| Dec 31, 2018 | 1.27 | 1.25 |
| Dec 31, 2017 | 1.34 | 1.06 |
| Dec 31, 2016 | 1.42 | 1.23 |
| Dec 31, 2015 | 0.93 | 1.31 |
| Dec 31, 2014 | 1.11 | 1.05 |
| Dec 31, 2013 | 1.35 | 1.17 |
| Dec 31, 2012 | 1.60 | 1.36 |
| Dec 31, 2011 | 1.70 | 1.04 |
| Dec 31, 2010 | 1.41 | 1.10 |
| Dec 31, 2009 | 1.45 | 1.25 |
| Dec 31, 2008 | 1.17 | 0.86 |
| Dec 31, 2007 | 1.13 | 0.93 |
| Dec 31, 2006 | 1.23 | 1.18 |
| Dec 31, 2005 | 1.27 | 1.13 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Materials)
Ecolab Inc., current ratio, long-term trends, comparison to industry (materials)
| Ecolab Inc. | Materials | |
|---|---|---|
| Dec 31, 2021 | 1.32 | 1.19 |
| Dec 31, 2020 | 1.75 | 1.14 |
| Dec 31, 2019 | 1.33 | 1.15 |
| Dec 31, 2018 | 1.27 | 1.57 |
| Dec 31, 2017 | 1.34 | 1.50 |
| Dec 31, 2016 | 1.42 | 1.77 |
| Dec 31, 2015 | 0.93 | 1.53 |
| Dec 31, 2014 | 1.11 | 1.40 |
| Dec 31, 2013 | 1.35 | 1.61 |
| Dec 31, 2012 | 1.60 | 2.11 |
| Dec 31, 2011 | 1.70 | 1.95 |
| Dec 31, 2010 | 1.41 | 1.82 |
| Dec 31, 2009 | 1.45 | 1.84 |
| Dec 31, 2008 | 1.17 | 1.17 |
| Dec 31, 2007 | 1.13 | 1.20 |
| Dec 31, 2006 | 1.23 | 1.39 |
| Dec 31, 2005 | 1.27 | 1.23 |
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), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).