Ecolab Inc (ECL)

Debt-to-equity 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 stockholders’ equity	US$ in thousands	8,044,700	7,236,100	7,224,200	6,166,500	8,685,300
Debt-to-equity ratio		0.00	0.00	0.00	1.08	0.72

December 31, 2023 calculation

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

The debt-to-equity ratio of Ecolab, Inc. has shown fluctuations over the past five years. In 2019, the ratio was relatively low at 0.73, indicating a lower level of debt compared to equity. However, from 2020 to 2021, there was an increase in the ratio, reaching a peak of 1.21 in 2021. This suggests that the company's level of debt compared to equity increased significantly during these years.

In 2022, there was a slight decrease in the debt-to-equity ratio to 1.19, indicating a slight improvement in the company's debt management. By the end of 2023, the ratio further decreased to 1.02, which may suggest that the company took measures to lower its debt levels relative to equity.

Overall, the trend in Ecolab, Inc.'s debt-to-equity ratio indicates that the company has experienced fluctuations in its capital structure over the years, potentially indicating varying levels of financial risk and leverage. It is essential for stakeholders to monitor this ratio to assess the company's financial health and its ability to meet its financial obligations in the long term.