Ecolab (ECL) FY2023 results: revenue $15.3 billion, up 8.0% on the year
Ecolab Inc. (ECL) reported revenue of $15.3 billion for fiscal 2023, the year ended 31 December 2023, up 8.0% on the year before. Net income was $1.4 billion, up 25.7%, and diluted earnings per share $4.79. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$15.3 billion
+8.0% on the year
FY2016FY2023
Operating margin
13.0%
11.0% a year earlier
FY2016FY2023
Net income
$1.4 billion
+25.7% on the year
FY2016FY2023
Diluted EPS
$4.79
+25.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,412
1,788
2,062
+34.9%
Capital expenditure
775
713
643
+8.7%
Free cash flow
1,637
1,076
1,419
+52.2%
Free cash flow margin
10.7%
7.6%
11.1%
Cash from investing
-990
-717
-4,580
Cash from financing
-1,055
-837
1,603
Depreciation and amortisation
924
938
843
-1.6%
Share-based compensation
95.1
87.8
89.5
+8.3%
Buybacks
13.7
518
107
-97.4%
Dividends paid
617
603
566
+2.4%
Dividend per share
$2.16
$2.06
$1.95
+4.9%
Diluted shares, weighted
286m
287m
289m
-0.0%
Shares outstanding at period end
285m
284m
287m
+0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,045
7,236
7,224
+11.2%
Non-controlling interest
27.5
22.5
28.9
+22.2%
Debt
8,182
8,580
8,758
-4.6%
Other liabilities
5,593
5,625
5,195
-0.6%
Total liabilities and equity
21,847
21,464
21,206
+1.8%
Fixed assets
3,475
3,293
3,288
+5.5%
Goodwill
8,148
8,013
8,064
+1.7%
Intangible assets
3,494
3,681
4,224
-5.1%
Cash and equivalents
920
599
360
+53.6%
Receivables
2,834
2,698
2,478
+5.0%
Inventory
1,497
1,793
1,492
-16.5%
Other assets
1,479
1,388
1,300
+6.6%
Total assets
21,847
21,464
21,206
+1.8%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.