Ecolab Inc (ECL)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	8,044,700	7,795,800	7,556,700	7,344,200	7,236,100	7,062,600	7,093,400	7,081,600	7,224,200	6,933,500	6,709,100	6,292,300	6,166,500	6,014,700	5,855,200	8,822,100	8,685,300	8,567,700	8,225,400	8,220,700
Debt-to-capital 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	0.52	0.00	0.00	0.00	0.42	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $8,044,700K)
= 0.00

The debt-to-capital ratio of Ecolab, Inc. has been relatively stable over the past two years, ranging between 0.50 and 0.55. This indicates that, on average, roughly 50% to 55% of the company's capital structure is financed through debt.

A decreasing trend in the debt-to-capital ratio over time might suggest that the company is reducing its reliance on debt financing, which can be seen as a positive sign for investors as it indicates lower financial risk. Conversely, an increasing trend may raise concerns about the company's ability to manage its debt levels effectively.

Overall, a debt-to-capital ratio of around 0.50 to 0.55 signifies that Ecolab, Inc. has a moderate level of debt relative to its total capital, and further analysis of the company's overall financial health and cash flow management would be necessary to fully assess its debt management strategy.