Ecolab (ECL)财务
NYSE · Basic Materials · Chemicals - Specialty · 员工48,000人 · CEO Christophe Beck
- 股价
- $302.98 +0.70%
- 市值
- $849亿
- 企业价值
- $980亿
- 最近财报
- Q3 '26 2026-10-29提交
- 下次财报
- 2027-02-09 EPS预期 $2.19
营收(TTM)$174亿+9.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)17.1%-0.1 百分点 对比去年同期营业利润 $29.8亿
净利润(TTM)$20.8亿+4.9% 对比去年同期税后,含营业外收益
自由现金流(TTM)$18亿+15.6% 对比去年同期资本支出 $12.3亿
稀释EPS(TTM)$7.35+5.6% 对比去年同期最近4个季度之和
净现金-$130亿-74.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $849亿 EV $980亿
- 营收
- $174亿 过去12个月
- 营收增速
- +11% FY2026年一致预期
- 净利润率
- 12.0% 净利润 / 营收,TTM
- P/E
- 40.9× 预期 37.1×(FY2026)
- P/S
- 4.9× 股价 / 营收,TTM
- EV / EBITDA
- 27.0× TTM
- 自由现金流
- $18亿 过去12个月
- 净利润
- $20.8亿 过去12个月
- 营收预期
- $179亿 FY2026年一致预期
- 盈利
- 2027-02-09 营收预期 $47.5亿
- 股息
- $2.92 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收符合预期,EPS 符合预期营收$46.9亿,预期$47亿(-0.1%);EPS $2.18,预期$2.18(0.0%)。
- 营收增长加速:同比12.7%Q3 '26营收$46.9亿,此前四个季度的平均值为7.2%。
- 营业利润率17.1%(TTM),较去年同期-0.1 百分点营收增长9.3%,营业利润增长8.5%。
- 税前利润的14.2%被营业外亏损吞噬税前利润$26.1亿,营业利润$29.8亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的7.1%(去年为6.8%)最近4个季度投入$12.3亿(同比+14.7%)。自由现金流$18亿,相当于净利润的86.2%。
- 股东回报$11.6亿 = 自由现金流的64.5%回购$3.41亿(去年为$3.34亿),股息$8.18亿,股权激励$1.43亿(TTM)。
- 稀释股数一年内减少1.2%Q3 '26稀释股数2.82亿,一年前为2.85亿。
- 净债务 $130亿现金 + 短期投资 $7.22亿,含租赁债务 $138亿;一年前净债务 $74.8亿。
- Water Services:营收+20.7%,利润率17.9%(此前为17.4%)Q3 '26增长最快的披露分部:营收$24.8亿,营业利润$4.45亿(来自财报的分部附注)。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $46.9亿 | $41.7亿 | +12.7% |
| 毛利率 | 44.1% | 44.8% | -0.7 百分点 |
| 营业利润 | $8.11亿 | $7.6亿 | +6.6% |
| 营业利润率 | 17.3% | 18.3% | -1.0 百分点 |
| 净利润 | $5.51亿 | $5.85亿 | -5.8% |
| 稀释EPS | $1.95 | $2.05 | -4.9% |
| 经营现金流 | $7.64亿 | $7.91亿 | -3.5% |
| 资本支出 | $3.13亿 | $2.62亿 | +19.8% |
| 自由现金流 | $4.5亿 | $5.3亿 | -15.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $4090万 | $3360万 | +21.7% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $46.9亿 | $47亿 | -0.1% |
| EPS(一致预期口径) | $2.18 | $2.18 | 0.0% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Water Services | $24.8亿 | – | 52.8% | – | – | |
| Global Water | – | – | – | – | – | |
| Global Institutional | $16.4亿 | – | 34.9% | – | – | |
| Global Institutional and Specialty | – | – | – | – | – | |
| Global Pest Elimination | $3.64亿 | +9.6% | 7.7% | $13.4亿 | +9.6% | |
| Global Healthcare And Life Sciences | $2.16亿 | – | 4.6% | – | – | |
| Global Life Sciences | – | – | – | – | – |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | – | – | – | – | – | |
| Europe | $9.13亿 | +6.6% | 51.3% | $35亿 | +11.1% | |
| Canada | – | – | – | – | – | |
| Asia Pacific | $3.93亿 | +14.9% | 22.1% | $14.9亿 | +9.8% | |
| Latin America | $3.08亿 | +9.9% | 17.3% | $11.9亿 | +7.9% | |
| C [N] | – | – | – | – | – | |
| Middle East And Africa | $1.65亿 | +4.0% | 9.3% | $6.36亿 | -5.4% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Water Services | $24.8亿 | +20.7% | $4.45亿 | +24.4% | 17.9% | 17.4% | $13.9亿 |
| Global Industrial | – | – | – | – | – | – | – |
| Global Institutional | $16.4亿 | +2.7% | $4.05亿 | +7.6% | 24.7% | 23.6% | $14.5亿 |
| Global Pest Elimination | $3.64亿 | +9.6% | $7390万 | +6.3% | 20.3% | 20.9% | $2.54亿 |
| Global Healthcare And Life Sciences | $2.14亿 | +15.8% | $5020万 | +48.5% | 23.5% | 18.3% | $1.62亿 |
| Corporate | – | – | -$1.62亿 | -116.4% | – | – | -$5.06亿 |
| Material Reconciling Items | – | – | -$180万 | +28.0% | – | – | $1.57亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $30.3亿
- 资本支出
- -$12.3亿
- 股票回购
- -$3.41亿
- 股息
- -$8.18亿
- 收购
- -$63亿
- 债务净发行
- $46.6亿
- 股权激励费用
- $1.43亿
- 自由现金流
- $18亿
- 股东回报 / FCF
- 64.5%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 40.9× | 41.2× | 31.5× – 59.4× |
| EV / EBITDA | 27.0× | 22.9× | 19.2× – 30.7× |
| EV / 营收 | 5.6× | 4.7× | 3.5× – 6.0× |
| 股价 / FCF | 47.3× | 39.2× | 34.5× – 47.3× |
| 股价 / 净资产 | 8.2× | 7.5× | 5.7× – 9.3× |
| FCF收益率 | 2.1% | 2.6% | 2.1% – 2.9% |
| 投入资本回报率 | 9.2% | 9.6% | 7.4% – 11.9% |
| 净资产收益率 | 20.7% | 18.6% | 15.1% – 24.1% |
分析师
一致目标价 $328.00 (+8.3%)
区间 $275.00 – $360.00 · 评级 Buy
强烈买入0
买入29
持有7
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $179亿 | +11.4% | $8.16 | +12.1% | 37.1× | 14 |
| FY2027 | $193亿 | +8.0% | $9.40 | +15.3% | 32.2× | 15 |
| FY2028 | $206亿 | +6.4% | $10.74 | +14.3% | 28.2× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Ecolab Inc.在近期10-Q / 10-K文件中标记的全部296项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| $1.36亿 | $7460万 | +82.0% | – | – | – | |
| Accounts Payable, Current | $23.4亿 | $18.7亿 | +25.2% | $20.7亿 | $18.1亿 | +14.4% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $38亿 | $31.1亿 | +21.9% | $32.5亿 | $28.7亿 | +13.4% |
| Accounts Receivable, Allowance for Credit Loss | $1.05亿 | $7810万 | +34.8% | $7410万 | $7000万 | +5.9% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $960万 | $1060万 | -9.4% | $4850万 | $5100万 | -4.9% |
| Accounts Receivable, before Allowance for Credit Loss | $39.5亿 | $32.4亿 | +21.9% | $33.7亿 | $29.9亿 | +12.7% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $920万 | $1380万 | -33.3% | $5140万 | $4690万 | +9.6% |
| Accrued Income Taxes, Current | $7380万 | $1.88亿 | -60.7% | $1.34亿 | $1.27亿 | +5.7% |
| Accrued Marketing Costs, Current | $5.4亿 | $4.63亿 | +16.6% | $5.28亿 | $4.52亿 | +16.9% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $51.5亿 | $48亿 | +7.3% | $48.4亿 | $44.4亿 | +9.1% |
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax | $4.85亿 | $5.48亿 | -11.5% | $4.96亿 | $5.38亿 | -8.0% |
| Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax | -$12.1亿 | -$13.5亿 | +10.0% | -$13.7亿 | -$14.5亿 | +5.1% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$16.8亿 | -$19亿 | +11.7% | -$18.7亿 | -$19.8亿 | +5.4% |
| Additional Paid in Capital, Common Stock | $77.5亿 | $74.5亿 | +4.0% | $75.2亿 | $71.6亿 | +5.1% |
| Amortization | $1.06亿 | $7660万 | +38.6% | $3.04亿 | $3.01亿 | +1.1% |
| Amortization of Intangible Assets | $1.06亿 | $7660万 | +38.6% | $3.04亿 | $3.01亿 | +1.0% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 60万 | 60万 | 0.0% | 120万 | 60万 | +100.0% |
| Assets | $311亿 | $239亿 | +30.2% | $247亿 | $224亿 | +10.3% |
| Assets for Plan Benefits, Defined Benefit Plan | $2.07亿 | $1.71亿 | +21.4% | $1.84亿 | $1.51亿 | +22.1% |
| Assets, Current | $71亿 | $71.1亿 | -0.1% | $59.6亿 | $60.3亿 | -1.2% |
| Buildings and Improvements, Gross | $12.9亿 | $12亿 | +6.8% | $12.4亿 | $11.5亿 | +7.8% |
| Business Acquisition, Goodwill, Expected Tax Deductible Amount | $1500万 | – | – | $6200万2023-12-31 | – | – |
| Capitalized Computer Software, Gross | $13.2亿 | $11.6亿 | +13.6% | $11.8亿 | $10.4亿 | +13.4% |
| Cash and Cash Equivalents, at Carrying Value | $7.22亿 | $19.6亿 | -63.1% | $6.46亿 | $12.6亿 | -48.6% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $7.22亿 | $19.6亿 | -63.1% | $6.46亿 | $12.6亿 | -48.6% |
| CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffectContinuingOperations | -$44.1亿 | $3490万 | -12,744.7% | -$6.11亿 | $3.37亿 | -281.0% |
| Common Stock, Dividends, Per Share, Declared | $0.73 | $0.65 | +12.3% | $2.68 | $2.36 | +13.6% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 8亿 | 8亿 | 0.0% | 8亿 | 8亿 | 0.0% |
| Common Stock, Shares, Outstanding | 2.81亿 | 2.83亿 | -1.0% | 2.82亿 | 2.83亿 | -0.5% |
| Common Stock, Value, Issued | $3.7亿 | $3.69亿 | +0.4% | $3.69亿 | $3.68亿 | +0.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $170万 | $460万 | -63.0% | $1760万 | $1950万 | -9.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $5.17亿 | $6.84亿 | -24.4% | $21.8亿 | $19.8亿 | +10.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $5.19亿 | $6.89亿 | -24.7% | $22亿 | $20亿 | +10.0% |
| Construction in Progress, Gross | $9.86亿 | $7.63亿 | +29.2% | $8.58亿 | $6.79亿 | +26.3% |
| Contract with Customer, Asset, after Allowance for Credit Loss | $1.44亿 | – | – | $1.17亿 | – | – |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $1.44亿 | – | – | $1.17亿 | – | – |
| Contract with Customer, Liability | $2.6亿 | $1.16亿 | +124.1% | $1.73亿 | $1.02亿 | +69.6% |
| Contract with Customer, Liability, Current | $2.6亿 | – | – | – | – | – |
| Contract with Customer, Liability, Increase (Decrease) for Contract Acquired in Business Combination | – | – | – | $5930万 | – | – |
| Contract with Customer, Liability, Revenue Recognized | $0 | $0 | – | -$1.02亿 | -$1.11亿 | +8.0% |
| Cost of Goods and Services Sold | $26.3亿 | $23亿 | +14.2% | $89.3亿 | $89亿 | +0.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.26亿 | $3.46亿 | -34.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $4.91亿 | $6.24亿 | -21.3% |
| Debt and Lease Obligation | $132亿 | $80.6亿 | +63.5% | $81.3亿 | $75.6亿 | +7.5% |
| Debt, Current | $12.8亿 | $1620万 | +7,780.9% | $8.7亿 | $6.16亿 | +41.4% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$3070万 | -$5760万 | +46.7% |
| Deferred Income Tax Assets, Net | $1.87亿 | $1.67亿 | +11.8% | $1.81亿 | $1.56亿 | +16.4% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$3620万 | -$1.85亿 | +80.4% |
| Deferred Income Tax Liabilities, Net | $7.68亿 | $1.77亿 | +334.3% | $3.3亿 | $2.8亿 | +17.8% |
| Deferred Income Taxes and Tax Credits | $8040万 | $360万 | +2,133.3% | -$3340万 | -$1.91亿 | +82.5% |
| Deferred Tax Assets, Deferred Income | $8860万2025-12-31 | $7240万 | +22.4% | $8860万 | $7240万 | +22.4% |
| Deferred Tax Assets, in Process Research and Development | $2.71亿2025-12-31 | $2.47亿 | +9.8% | $2.71亿 | $2.47亿 | +9.8% |
| Deferred Tax Assets, Net of Valuation Allowance | $12.4亿2025-12-31 | $10.1亿 | +23.4% | $12.4亿 | $10.1亿 | +23.4% |
| Deferred Tax Assets, Operating Loss Carryforwards | $1.9亿2025-12-31 | $9290万 | +104.3% | $1.9亿 | $9290万 | +104.3% |
| Deferred Tax Assets, Operating Loss Carryforwards, Domestic | $2180万2025-12-31 | – | – | $2180万 | – | – |
| Deferred Tax Assets, Operating Loss Carryforwards, Foreign | $1.36亿2025-12-31 | – | – | $1.36亿 | – | – |
| Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $1600万2025-12-31 | – | – | $1600万 | – | – |
| Deferred Tax Assets, Other | $7830万2025-12-31 | $3280万 | +138.7% | $7830万 | $3280万 | +138.7% |
| Deferred Tax Assets, Tax Credit Carryforwards | $1.32亿2025-12-31 | $1.05亿 | +25.8% | $1.32亿 | $1.05亿 | +25.8% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-01