Ecolab Inc (ECL)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	6,671,200	—	—	—	6,274,000	—	—	—
Total assets	US$ in thousands	21,846,600	21,858,100	21,456,200	21,251,500	21,464,300	21,037,000	21,163,600	21,067,200	21,206,400	17,926,200	18,533,700	18,208,100	18,126,000	18,097,100	18,082,400	22,339,600	20,869,100	20,835,600	20,827,600	20,927,600
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.37	0.00	0.00	0.00	0.30	0.00	0.00	0.00

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 a gradual decrease over the past year, from 0.42 in Q1 2022 to 0.37 in Q4 2023. This indicates that the company has been able to reduce its reliance on debt in relation to its total assets. A decreasing trend in this ratio is generally seen as positive, as it suggests a lower level of financial risk and a stronger ability to meet financial obligations. However, it is essential to consider the context and reason behind this trend, as too low of a debt-to-assets ratio could signify underutilization of debt financing which might hinder growth opportunities. Overall, Ecolab's decreasing debt-to-assets ratio trend is a favorable indicator of improved financial health and stability.