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 76,137 - -
Change - -38.33% 36.42% 17.32% 12.06% 2.4% - -
Enterprise Value (EV) 1 75,624 49,441 63,820 72,659 81,945 87,921 86,618 85,689
Change - -34.62% 29.08% 13.85% 12.78% 7.29% -1.48% -1.07%
P/E 60x 38.2x 41.4x 31.8x 36.1x 35.8x 29.1x 25.2x
PBR 9.3x 5.77x 7.06x 7.67x 7.58x 7.04x 6.08x 5.43x
PEG - -14.94x 1.6x 0.6x -29.56x 8.45x 1.3x 1.6x
Capitalization / Revenue 5.28x 2.92x 3.69x 4.22x 4.62x 4.25x 3.93x 3.7x
EV / Revenue 5.94x 3.48x 4.17x 4.62x 5.1x 4.9x 4.47x 4.16x
EV / EBITDA 28.6x 18.2x 20.9x 20.4x 21.1x 19.9x 17.4x 15.9x
EV / EBIT 42x 27.9x 30x 27.7x 28.3x 26.8x 22.6x 20.2x
EV / FCF 53.3x 46x 39x 39.9x 43x 47.4x 37.8x 33.3x
FCF Yield 1.88% 2.18% 2.57% 2.5% 2.32% 2.11% 2.65% 3%
Dividend per Share 2 1.95 2.06 2.16 2.36 2.68 2.94 3.133 3.348
Rate of return 0.83% 1.42% 1.09% 1.01% 1.02% 1.08% 1.15% 1.23%
EPS 2 3.91 3.81 4.79 7.37 7.28 7.588 9.336 10.8
Distribution rate 49.9% 54.1% 45.1% 32% 36.8% 38.7% 33.6% 31%
Net sales 1 12,733 14,188 15,320 15,741 16,081 17,925 19,356 20,596
EBITDA 1 2,642 2,712 3,050 3,554 3,877 4,419 4,965 5,399
EBIT 1 1,799 1,773 2,126 2,619 2,901 3,283 3,836 4,246
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 11,784 10,481 9,552
Reference price 2 234.59 145.56 198.35 234.32 262.52 271.60 271.60 271.60
Nbr of stocks (in thousands) 286,567 284,828 285,140 283,162 283,236 280,329 - -
Announcement Date 15/2/22 14/2/23 13/2/24 11/2/25 10/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
35.79x4.9x19.9x1.08% 76.14B
25.11x2.98x15.47x2.07% 36.64B
28.43x4.3x18.55x2.34% 35.94B
13.68x1.33x8.18x2.32% 25.09B
36.99x9.08x26.92x2.33% 22.92B
9.97x2.73x5.39x2.74% 20.71B
23.9x2.59x10.53x1.89% 17.19B
12.24x2.47x5.57x1.32% 14.41B
22.71x2.74x12.57x1.48% 13.99B
14.62x1.6x6.28x2.05% 13.78B
Average 22.34x 3.47x 12.94x 1.96% 27.68B
Weighted average by Cap. 25.91x 3.89x 15.19x 1.85%

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

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