Ecolab (ECL) FY2020 results: revenue $11.8 billion, down 6.1% on the year
Ecolab Inc. (ECL) reported revenue of $11.8 billion for fiscal 2020, the year ended 31 December 2020, down 6.1% on the year before. Net income was -$1.2 billion, and diluted earnings per share $-4.15. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$11.8 billion
-6.1% on the year
FY2013FY2020
Operating margin
11.8%
14.7% a year earlier
FY2013FY2020
Net income
-$1.2 billion
FY2013FY2020
Diluted EPS
-$4.15
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,790
12,562
12,222
-6.1%
Cost of revenue
6,906
7,046
6,875
-2.0%
Gross profit
4,884
5,516
5,347
-11.5%
Gross margin
41.4%
43.9%
43.7%
Research and development
185
190
193
-2.6%
Selling, general and administrative
3,309
3,551
3,506
-6.8%
Operating income
1,396
1,845
1,728
-24.4%
Operating margin
11.8%
14.7%
14.1%
Interest expense
305
214
236
+42.2%
Pre-tax income
1,161
1,732
1,587
-32.9%
Income tax
177
289
321
-38.8%
Effective tax rate
15.2%
16.7%
20.2%
Net income
-1,205
1,559
1,429
Net margin
-10.2%
12.4%
11.7%
Diluted EPS
-$4.15
$5.33
$4.88
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,860
2,421
2,278
-23.2%
Capital expenditure
489
731
779
-33.1%
Free cash flow
1,371
1,689
1,499
-18.8%
Free cash flow margin
11.6%
13.4%
12.3%
Cash from investing
-414
-1,199
-1,030
Cash from financing
-342
-1,350
-1,173
Depreciation and amortisation
813
775
729
+4.9%
Share-based compensation
82.1
84.0
88.0
-2.3%
Buybacks
146
354
562
-58.7%
Dividends paid
561
553
495
+1.4%
Dividend per share
$1.89
$1.85
$1.69
+2.2%
Diluted shares, weighted
290m
292m
293m
-0.8%
Shares outstanding at period end
286m
288m
288m
-0.9%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,166
8,685
8,003
-29.0%
Non-controlling interest
35.0
40.5
50.4
-13.6%
Debt
6,669
6,354
7,045
+5.0%
Other liabilities
5,255
5,790
4,976
-9.2%
Total liabilities and equity
18,126
20,869
20,074
-13.1%
Fixed assets
3,125
3,228
3,087
-3.2%
Goodwill
6,007
5,569
5,394
+7.9%
Intangible assets
2,977
2,928
2,940
+1.7%
Cash and equivalents
1,260
119
63.9
+960.8%
Receivables
2,274
2,382
2,210
-4.5%
Inventory
1,285
1,082
1,104
+18.8%
Other assets
1,198
5,562
5,276
-78.5%
Total assets
18,126
20,869
20,074
-13.1%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.