Stock Analysis on Net
Stock Analysis on Net

Ecolab Inc. (NYSE:ECL)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Beginner level

Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).


Historical Valuation Ratios (Summary)

Ecolab Inc., historical price multiples (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Price to earnings (P/E) 36.32 33.36 36.32 38.66 35.94 34.27 27.58 27.16 27.69 25.06 28.97 29.74 29.23 29.77 30.23 37.29 33.76 31.39
Price to operating profit (P/OP) 31.90 27.47 25.82 27.20 29.44 27.11 25.16 22.14 20.56 20.79 18.71 19.45 19.75 19.10 19.12 19.28 23.45 21.84 20.15
Price to sales (P/S) 3.98 3.75 3.49 3.73 3.91 3.61 3.34 3.03 2.94 2.94 2.73 2.80 2.87 2.77 2.78 2.45 2.69 2.53 2.32
Price to book value (P/BV) 9.47 6.36 5.99 6.46 7.03 6.46 6.12 5.56 5.39 5.47 4.96 5.25 5.55 5.38 5.31 4.72 5.40 5.13 4.55 5.14 5.04 4.91

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-26), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Ecolab Inc.’s P/E ratio increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Ecolab Inc.’s P/OP ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Ecolab Inc.’s P/S ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Ecolab Inc.’s P/BV ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Earnings (P/E)

Ecolab Inc., historical P/E calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 285,384,775 289,201,752 288,166,440 288,244,379 287,751,846 288,242,150 287,853,232 288,873,052 288,903,662 288,520,477 288,858,441 288,914,305 289,381,301 290,045,399 291,718,512 291,551,991 291,595,269 293,305,223 296,001,857 295,303,509 295,092,229 297,760,678
Selected Financial Data (US$)
Net income (loss) attributable to Ecolab (in thousands) (2,035,000) 283,400  429,600  464,200  368,600  296,500  395,100  435,400  351,300  247,300  565,900  392,400  296,600  253,500  366,300  374,100  258,400  230,800  208,900  257,800  302,000  233,400 
Earnings per share (EPS)2 -3.01 5.35 5.41 5.29 5.20 5.13 4.96 5.54 5.39 5.21 5.22 4.53 4.46 4.32 4.22 3.68 3.28 3.41 3.39 0.00 0.00 0.00
Share price1, 3 194.20 194.12 180.45 192.07 200.93 184.32 170.16 152.73 146.34 144.18 130.84 131.24 132.62 126.22 125.50 111.18 122.23 115.04 106.28 117.99 116.31 113.28
Valuation Ratio
P/E ratio4 36.32 33.36 36.32 38.66 35.94 34.27 27.58 27.16 27.69 25.06 28.97 29.74 29.23 29.77 30.23 37.29 33.76 31.39
Benchmarks
P/E Ratio, Competitors5
Air Products & Chemicals Inc. 23.99 28.51 29.36 29.34 25.89 20.90 23.09 23.40 31.93 13.02 11.74 11.09 9.69 54.47 48.13 55.63 57.98 20.75 23.51 29.50 29.83 30.41
Linde plc 56.55 41.46 46.22 23.26 23.17 22.22 21.71 32.38 34.34 33.96 34.48 26.44 24.65 23.36 22.87 21.94 21.17 22.53 18.76

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-26), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
EPS = (Net income (loss) attributable to EcolabQ2 2020 + Net income (loss) attributable to EcolabQ1 2020 + Net income (loss) attributable to EcolabQ4 2019 + Net income (loss) attributable to EcolabQ3 2019) ÷ No. shares of common stock outstanding
= (-2,035,000,000 + 283,400,000 + 429,600,000 + 464,200,000) ÷ 285,384,775 = -3.01

3 Closing price as at the filing date of Ecolab Inc.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/E ratio = Share price ÷ EPS
= 194.20 ÷ -3.01 =

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Ecolab Inc.’s P/E ratio increased from Q4 2019 to Q1 2020 but then decreased significantly from Q1 2020 to Q2 2020.

Price to Operating Profit (P/OP)

Ecolab Inc., historical P/OP calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 285,384,775 289,201,752 288,166,440 288,244,379 287,751,846 288,242,150 287,853,232 288,873,052 288,903,662 288,520,477 288,858,441 288,914,305 289,381,301 290,045,399 291,718,512 291,551,991 291,595,269 293,305,223 296,001,857 295,303,509 295,092,229 297,760,678
Selected Financial Data (US$)
Operating income (in thousands) 192,000  397,200  560,400  587,600  498,600  367,200  581,900  516,200  494,600  354,300  627,700  579,800  439,000  373,300  556,900  574,100  412,500  371,500  322,800  413,000  437,800  387,700 
Operating profit per share2 6.09 7.07 6.99 7.06 6.82 6.80 6.76 6.90 7.12 6.93 6.99 6.75 6.72 6.61 6.56 5.77 5.21 5.27 5.27 0.00 0.00 0.00
Share price1, 3 194.20 194.12 180.45 192.07 200.93 184.32 170.16 152.73 146.34 144.18 130.84 131.24 132.62 126.22 125.50 111.18 122.23 115.04 106.28 117.99 116.31 113.28
Valuation Ratio
P/OP ratio4 31.90 27.47 25.82 27.20 29.44 27.11 25.16 22.14 20.56 20.79 18.71 19.45 19.75 19.10 19.12 19.28 23.45 21.84 20.15
Benchmarks
P/OP Ratio, Competitors5
Air Products & Chemicals Inc. 20.19 23.92 24.10 24.18 21.72 18.03 17.60 18.77 22.44 23.83 24.68 21.37 17.05 16.06 14.42 15.93 16.73 15.35 17.68 22.32 22.61 22.73
Linde plc 43.23 31.75 36.01 20.05 20.02 18.94 18.13 17.56 18.38 17.80 17.56 17.76 16.63 15.80 15.33 14.70 14.15 14.88 12.50

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-26), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Operating profit per share = (Operating incomeQ2 2020 + Operating incomeQ1 2020 + Operating incomeQ4 2019 + Operating incomeQ3 2019) ÷ No. shares of common stock outstanding
= (192,000,000 + 397,200,000 + 560,400,000 + 587,600,000) ÷ 285,384,775 = 6.09

3 Closing price as at the filing date of Ecolab Inc.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 194.20 ÷ 6.09 = 31.90

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Ecolab Inc.’s P/OP ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Sales (P/S)

Ecolab Inc., historical P/S calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 285,384,775 289,201,752 288,166,440 288,244,379 287,751,846 288,242,150 287,853,232 288,873,052 288,903,662 288,520,477 288,858,441 288,914,305 289,381,301 290,045,399 291,718,512 291,551,991 291,595,269 293,305,223 296,001,857 295,303,509 295,092,229 297,760,678
Selected Financial Data (US$)
Net sales (in thousands) 2,685,700  3,581,400  3,823,600  3,817,900  3,759,400  3,505,400  3,760,500  3,747,200  3,689,600  3,470,900  3,650,700  3,563,300  3,462,700  3,161,600  3,352,100  3,386,100  3,317,200  3,097,400  3,412,000  3,446,400  3,389,100  3,297,600 
Sales per share2 48.74 51.81 51.73 51.50 51.34 51.01 50.96 50.40 49.76 49.03 47.91 46.86 46.18 45.57 45.09 45.32 45.52 45.50 45.76 0.00 0.00 0.00
Share price1, 3 194.20 194.12 180.45 192.07 200.93 184.32 170.16 152.73 146.34 144.18 130.84 131.24 132.62 126.22 125.50 111.18 122.23 115.04 106.28 117.99 116.31 113.28
Valuation Ratio
P/S ratio4 3.98 3.75 3.49 3.73 3.91 3.61 3.34 3.03 2.94 2.94 2.73 2.80 2.87 2.77 2.78 2.45 2.69 2.53 2.32
Benchmarks
P/S Ratio, Competitors5
Air Products & Chemicals Inc. 5.20 6.02 5.79 5.61 4.89 3.95 3.87 4.01 4.19 4.36 4.30 3.84 3.51 3.41 3.19 3.40 3.36 2.82 3.04 3.02 2.99 2.98
Linde plc 4.73 3.46 3.74 4.10 4.51 5.23 6.38 3.86 4.01 3.83 3.76 3.85 3.48 3.33 3.26 3.17 3.19 3.18 2.69

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-26), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
Sales per share = (Net salesQ2 2020 + Net salesQ1 2020 + Net salesQ4 2019 + Net salesQ3 2019) ÷ No. shares of common stock outstanding
= (2,685,700,000 + 3,581,400,000 + 3,823,600,000 + 3,817,900,000) ÷ 285,384,775 = 48.74

3 Closing price as at the filing date of Ecolab Inc.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/S ratio = Share price ÷ Sales per share
= 194.20 ÷ 48.74 = 3.98

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Ecolab Inc.’s P/S ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.

Price to Book Value (P/BV)

Ecolab Inc., historical P/BV calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
No. shares of common stock outstanding1 285,384,775 289,201,752 288,166,440 288,244,379 287,751,846 288,242,150 287,853,232 288,873,052 288,903,662 288,520,477 288,858,441 288,914,305 289,381,301 290,045,399 291,718,512 291,551,991 291,595,269 293,305,223 296,001,857 295,303,509 295,092,229 297,760,678
Selected Financial Data (US$)
Total Ecolab shareholders’ equity (in thousands) 5,855,200  8,822,100  8,685,300  8,567,700  8,225,400  8,220,700  8,003,200  7,929,400  7,849,500  7,601,000  7,618,500  7,222,300  6,919,700  6,809,400  6,901,100  6,869,600  6,600,500  6,581,400  6,909,900  6,783,200  6,811,600  6,871,000 
Book value per share (BVPS)2 20.52 30.51 30.14 29.72 28.59 28.52 27.80 27.45 27.17 26.34 26.37 25.00 23.91 23.48 23.66 23.56 22.64 22.44 23.34 22.97 23.08 23.08
Share price1, 3 194.20 194.12 180.45 192.07 200.93 184.32 170.16 152.73 146.34 144.18 130.84 131.24 132.62 126.22 125.50 111.18 122.23 115.04 106.28 117.99 116.31 113.28
Valuation Ratio
P/BV ratio4 9.47 6.36 5.99 6.46 7.03 6.46 6.12 5.56 5.39 5.47 4.96 5.25 5.55 5.38 5.31 4.72 5.40 5.13 4.55 5.14 5.04 4.91
Benchmarks
P/BV Ratio, Competitors5
Air Products & Chemicals Inc. 4.10 4.66 4.67 4.41 3.93 3.25 3.19 3.38 3.44 3.64 3.49 3.45 3.30 4.31 4.29 4.59 4.64 3.71 4.14 4.03 4.20 4.24
Linde plc 2.83 2.17 2.15 2.26 2.05 1.93 1.84 7.46 7.94 7.04 7.15 6.85 6.54 6.48 6.83 6.34 6.50 6.85 6.61 7.53 6.69 7.16

Based on: 10-Q (filing date: 2020-08-06), 10-Q (filing date: 2020-05-07), 10-K (filing date: 2020-02-28), 10-Q (filing date: 2019-10-31), 10-Q (filing date: 2019-08-01), 10-Q (filing date: 2019-05-02), 10-K (filing date: 2019-03-01), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-02), 10-Q (filing date: 2018-05-03), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-11-02), 10-Q (filing date: 2017-08-03), 10-Q (filing date: 2017-05-04), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-11-03), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-05), 10-K (filing date: 2016-02-26), 10-Q (filing date: 2015-11-02), 10-Q (filing date: 2015-08-06), 10-Q (filing date: 2015-05-07).

1 Data adjusted for splits and stock dividends.

2 Q2 2020 Calculation
BVPS = Total Ecolab shareholders’ equity ÷ No. shares of common stock outstanding
= 5,855,200,000 ÷ 285,384,775 = 20.52

3 Closing price as at the filing date of Ecolab Inc.’s Quarterly or Annual Report.

4 Q2 2020 Calculation
P/BV ratio = Share price ÷ BVPS
= 194.20 ÷ 20.52 = 9.47

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return. Ecolab Inc.’s P/BV ratio increased from Q4 2019 to Q1 2020 and from Q1 2020 to Q2 2020.