Ecolab vs PPG Industries
Ecolab reported revenue of $16.1 billion in fiscal 2025, about the same as PPG Industries' $15.9 billion in fiscal 2025. Ecolab's revenue grew 2.2% in its latest year, and PPG Industries' grew 0.2%. Free cash flow was $1.9 billion at Ecolab and $1.2 billion at PPG Industries.
Side by side
| Ecolab | PPG Industries | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $16.1B | $15.9B |
| Revenue growth | 2.2% | 0.2% |
| Revenue growth a year, last 5 years | 6.4% | 2.8% |
| Gross margin | 44.5% | 41.3% |
| Operating margin | 17.0% | — |
| Net margin | 12.9% | 9.9% |
| Free cash flow | $1.9B | $1.2B |
| Free cash flow margin | 11.8% | 7.3% |
| Return on capital | 13.8% | 14.4% |
| Net debt to EBITDA | 2.0x | 1.8x |
| Dividends and buybacks | $1.5B | $1.4B |
| Change in diluted share count | −0.5% | −3.3% |
| Last close | $288.89 | $109.90 |
| P/E at the last close | 38.8× | 15.7× |
| Insider trades, last 12 months | bought $3.9 million, sold $27.1 million | bought $2,753, sold $15.2 million |
| Piotroski F-score | 5 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
EcolabPPG Industries
Operating margin
Percent of revenue
EcolabPPG Industries
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
EcolabPPG Industries
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Ecolab and PPG Industries pages.