Ecolab (ECL) FY2019 results: revenue $12.6 billion, up 2.8% on the year
Ecolab Inc. (ECL) reported revenue of $12.6 billion for fiscal 2019, the year ended 31 December 2019, up 2.8% on the year before. Net income was $1.6 billion, up 9.1%, and diluted earnings per share $5.33. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$12.6 billion
+2.8% on the year
FY2012FY2019
Operating margin
14.7%
14.1% a year earlier
FY2012FY2019
Net income
$1.6 billion
+9.1% on the year
FY2012FY2019
Diluted EPS
$5.33
+9.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
12,562
12,222
11,531
+2.8%
Cost of revenue
7,046
6,875
6,415
+2.5%
Gross profit
5,516
5,347
5,116
+3.2%
Gross margin
43.9%
43.7%
44.4%
Research and development
190
193
177
-1.6%
Selling, general and administrative
3,551
3,506
3,364
+1.3%
Operating income
1,845
1,728
1,747
+6.8%
Operating margin
14.7%
14.1%
15.2%
Interest expense
214
236
272
-9.0%
Pre-tax income
1,732
1,587
1,560
+9.1%
Income tax
289
321
190
-10.1%
Effective tax rate
16.7%
20.2%
12.2%
Net income
1,559
1,429
1,505
+9.1%
Net margin
12.4%
11.7%
13.0%
Diluted EPS
$5.33
$4.88
$5.13
+9.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
2,421
2,278
2,091
+6.3%
Capital expenditure
731
779
787
-6.1%
Free cash flow
1,689
1,499
1,304
+12.7%
Free cash flow margin
13.4%
12.3%
11.3%
Cash from investing
-1,199
-1,030
-1,727
Cash from financing
-1,350
-1,173
-523
Depreciation and amortisation
775
729
685
+6.3%
Share-based compensation
84.0
88.0
85.5
-4.5%
Buybacks
354
562
600
-37.1%
Dividends paid
553
495
443
+11.7%
Dividend per share
$1.85
$1.69
$1.52
+9.5%
Diluted shares, weighted
292m
293m
294m
-0.1%
Shares outstanding at period end
288m
288m
289m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,685
8,003
7,584
+8.5%
Non-controlling interest
40.5
50.4
70.2
-19.6%
Debt
6,354
7,045
7,323
-9.8%
Other liabilities
5,790
4,976
4,986
+16.4%
Total liabilities and equity
20,869
20,074
19,962
+4.0%
Fixed assets
3,228
3,087
3,707
+4.6%
Goodwill
5,569
5,394
5,467
+3.2%
Intangible assets
2,928
2,940
4,018
-0.4%
Cash and equivalents
119
63.9
211
+85.9%
Receivables
2,382
2,210
2,574
+7.8%
Inventory
1,082
1,104
1,446
-2.0%
Other assets
5,562
5,276
2,540
+5.4%
Total assets
20,869
20,074
19,962
+4.0%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.