Ecolab Inc (ECL)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	6,671,200	6,274,000
Total assets	US$ in thousands	21,846,600	21,464,300	21,206,400	18,126,000	20,869,100
Debt-to-assets ratio		0.00	0.00	0.00	0.37	0.30

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $21,846,600K
= 0.00

The debt-to-assets ratio of Ecolab, Inc. has shown some fluctuations over the past five years. It decreased from 0.30 in 2019 to 0.37 in 2020, indicating a lower level of debt relative to assets. Subsequently, the ratio increased to 0.41 in 2021 before declining slightly to 0.40 in 2022 and further to 0.37 in 2023.

A debt-to-assets ratio of 0.37 in 2023 suggests that approximately 37% of Ecolab's total assets are financed by debt. This indicates a moderate reliance on debt funding, with a greater proportion of assets being funded by equity or internal resources.

Overall, the trend in Ecolab's debt-to-assets ratio over the past five years signals some variability in the company's capital structure and financial leverage. It would be important to further assess the reasons behind these fluctuations and evaluate the potential implications for the company's financial health and risk profile.