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Ecolab vs Stepan: ECL and SCL compared
Ecolab is the larger company: $4.7B of revenue in its latest quarter (Q3 2026) against $692M for Stepan (Q3 2026). Stepan is growing faster (+17% against +13% a year earlier). Ecolab is more profitable, with an operating margin of 17.3% against 3.8%.
Where the money goes: ECL and SCL
Ecolab (ECL) · Q3 2026
Ecolab, Q3 2026: revenue $4.7B (+13% year over year), operating margin 17.3%, net earnings $551M, operating cash flow $764M. The chart follows the revenue to costs, profit and cash.
Stepan (SCL) · Q3 2026
Stepan, Q3 2026: revenue $692M (+17% year over year), operating margin 3.8%, net earnings $17.8M, operating cash flow $29.3M. The chart follows the revenue to costs, profit and cash.
| Ecolab (ECL) | Stepan (SCL) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.7B | $692M |
| Revenue growth, Y/Y | +13% | +17% |
| Gross margin | — | 12.7% |
| Operating margin | 17.3% | 3.8% |
| Net earnings | $551M | $17.8M |
| Net margin | 11.7% | 2.6% |
| Operating cash flow | $764M | $29.3M |
| Free cash flow | $450M | $8.2M |
| Market value | $86.3B | $1.5B |
| P/E | 41.6× | — |
| Analysts’ mean target | $330.57 | $85.00 |
Where the revenue comes from
Ecolab
- Global Water: $2.5B (53%)
- Global Institutional & Specialty: $1.6B (35%)
- Global Pest Elimination: $364M (8%)
- Global Life Sciences: $214M (5%)
Stepan
- Surfactants: $487M (70%)
- Polymers: $179M (26%)
- Specialty Products: $26.9M (4%)
Questions
Which is bigger, Ecolab or Stepan?
Ecolab is the larger company: $4.7B of revenue in its latest quarter (Q3 2026) against $692M for Stepan (Q3 2026).
Is Ecolab or Stepan growing faster?
Stepan is growing faster (+17% against +13% a year earlier).
Which is more profitable, Ecolab or Stepan?
Ecolab is more profitable, with an operating margin of 17.3% against 3.8%.
More: Ecolab earnings · how Ecolab makes money · Stepan earnings · how Stepan makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.