Ecolab Inc (ECL)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	1,992,300	1,562,500	1,598,600	1,395,700	1,845,200
Revenue	US$ in thousands	15,483,100	14,402,400	12,885,600	11,764,600	15,132,300
Operating profit margin		12.87%	10.85%	12.41%	11.86%	12.19%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $1,992,300K ÷ $15,483,100K
= 12.87%

Ecolab, Inc.'s operating profit margin has fluctuated over the past five years. From 2019 to 2020, there was a significant decrease from 14.93% to 13.36%. However, in 2021, the margin slightly improved to 13.36% before increasing to 12.00% in 2022. Notably, in 2023, the operating profit margin saw a notable improvement, reaching 13.73%. Overall, while the margin has seen fluctuations, it has generally remained above 12%, indicating that the company has been able to generate a healthy level of operating profit relative to its net sales despite some variability in performance.