Filing Flows

Filing Flows › Companies › Ecolab › Cash flow

Ecolab cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$450M in Q3 2026 · $1.8B over twelve months

Operating cash flow$764M
Capital spending−$313M
Free cash flow+$450M
Cash / net income1.4×
Cash conversion cycle52 days

Analysis

In Q3 2026, Ecolab generated $764M of operating cash flow and spent $313M on capital projects, leaving free cash flow of $450M. That is $79.4M less than in Q3 2025 ($530M).

Over the twelve months to Sep 30, 2026, operating cash flow was $3.0B; the largest uses were acquisitions ($6.3B), capital spending ($1.2B), buybacks ($1.1B); besides operations, cash came from net borrowing (+) / repaid (−) ($5.1B), shares issued ($155M); the cash balance fell by $1.2B.

Operating cash flow was $764M against net income of $554M — 1.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$287M, receivables −$260M, payables +$151M.

Its cash conversion cycle was 52 days (receivables 71 + inventory 60 − payables 79).

Free cash flow

Ecolab: free cash flow by quarterEcolab: free cash flow by quarter$407MQ4 2024$132MQ1 2025$485MQ2 2025$530MQ3 2025$758MQ4 2025$97.4MQ1 2026$489MQ2 2026$450MQ3 2026
Operating cash flow less capital spending.
Ecolab: operating cash flow against capital spendingEcolab: operating cash flow against capital spendingOperating cash flowCapital spending$767M$360MQ4 2024$369M$238MQ1 2025$702M$217MQ2 2025$791M$262MQ3 2025$1.1B$332MQ4 2025$446M$348MQ1 2026$730M$240MQ2 2026$764M$313MQ3 2026
Latest (Q3 2026): Operating cash flow $764M, Capital spending $313M.

Capital allocation, year by year

Ecolab: where the cash came from (up) and went (down), by fiscal yearEcolab: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $2.1BFY2021: Net borrowing $2.2BFY2021: Shares issued $144MFY2021: Asset sales $12.2MFY2021: Capital spending −$643MFY2021: Acquisitions −$3.9BFY2021: Buybacks −$107MFY2021: Dividends −$566M$4.4BFY2021FY2022: Operating cash flow $1.8BFY2022: Net borrowing $89.7MFY2022: Shares issued $29.1MFY2022: Asset sales $2.2MFY2022: Capital spending −$713MFY2022: Acquisitions −$7.2MFY2022: Buybacks −$518MFY2022: Dividends −$603M$1.9BFY2022FY2023: Operating cash flow $2.4BFY2023: Net borrowing −$502MFY2023: Shares issued $96.8MFY2023: Asset sales $9.9MFY2023: Capital spending −$775MFY2023: Acquisitions −$180MFY2023: Buybacks −$13.7MFY2023: Dividends −$617M$2.5BFY2023FY2024: Operating cash flow $2.8BFY2024: Net borrowing −$628MFY2024: Shares issued $259MFY2024: Asset sales $901MFY2024: Capital spending −$994MFY2024: Acquisitions −$313MFY2024: Buybacks −$986MFY2024: Dividends −$664M$4.0BFY2024FY2025: Operating cash flow $3.0BFY2025: Net borrowing $470MFY2025: Shares issued $228MFY2025: Asset sales $37.4MFY2025: Capital spending −$1.0BFY2025: Acquisitions −$1.6BFY2025: Buybacks −$784MFY2025: Dividends −$754M$3.7BFY2025
Over these 5 years operating cash flow totalled $12.0B; the largest uses were acquisitions ($6.0B) and capital spending ($4.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$722M
Debt$13.2B
Net debt$12.5B
Due within a year$759M

Ecolab funds itself: free cash flow was $1.8B over the last twelve months, and $722M of cash and investments stands against $13.2B of debt ($759M due within a year, 1.0× covered by cash).

Ecolab: debt maturities by year (FY2025)Ecolab: debt maturities by year (FY2025)$759MYear 1$1.0BYear 2$1.0BYear 3$12.0MYear 4$687MYear 5
Principal due in each year as disclosed in the annual report, against $722M of cash and investments now.

Where the cash came from and went

Ecolab: sources (+) and uses (−) of cash, Q3 2026Ecolab: sources (+) and uses (−) of cash, Q3 2026Acquisitions−$4.7BCash drawn (+) / kept (−)$4.4BOperating cash flow$764MCapital spending−$313MDividends−$205MNet borrowing (+) / repaid (−)$26.5MOther investing−$22.4MShares issued$14.1MExchange rates−$11.5MOther financing−$6.8MBuybacks−$2.8MAsset & business sales$300K
Ecolab: sources (+) and uses (−) of cash, TTM to Q3 2026Ecolab: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$6.3BNet borrowing (+) / repaid (−)$5.1BOperating cash flow$3.0BCapital spending−$1.2BCash drawn (+) / kept (−)$1.2BBuybacks−$1.1BDividends−$818MShares issued$155MOther investing−$69.5MOther financing−$65.7MExchange rates$13.2MAsset & business sales$8.2M

From profit to cash

Ecolab: net income to operating cash flow, Q3 2026Ecolab: net income to operating cash flow, Q3 2026Net income$554MDepreciation & amortization$287MStock-based pay$40.9MDeferred taxes$80.4MOther non-cash$25.1MReceivables−$260MInventory−$67.6MPayables$151MPrepaid and other assets−$10.5MOther liabilities−$10.0MOperating cash flow$764M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202671607952
Q2 202669597851
Q1 202672608151
Q4 202570597752
Q3 202568627555
Q2 202567647556
Q1 202570667857
Q4 202466627354

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$764M−$313M−$4.7B−$2.8M−$205M$26.5M$14.1M$4.4B$450M
Q2 2026$730M−$240M—−$325M−$208M$4.7B$11.3M−$4.6B$489M
Q1 2026$446M−$348M—−$344M−$216M$255M$83.5M$126M$97.4M
Q4 2025$1.1B−$332M−$1.6B−$409M−$189M$124M$46.2M$1.3B$758M
Q3 2025$791M−$262M—−$175M−$184M$521M$43.0M−$34.9M$530M
Q2 2025$702M−$217M—−$45.5M−$188M−$5.3M$40.5M−$758M$485M
Q1 2025$369M−$238M—−$154M−$192M$4.5M$98.5M$94.2M$132M
Q4 2024$767M−$360M−$256M−$2.8M−$161M−$1.4M$26.6M$4.3M$407M

Ecolab: income statement and cash flow

Ecolab, Q3 2026: revenue $4.7B (+13% year over year), operating margin 17.3%. The chart follows the revenue to costs, profit and cash.

Ecolab: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.