Stock Analysis on Net

Ecolab Inc. (NYSE:ECL)

This company has been moved to the archive! The financial data has not been updated since February 25, 2022.

Analysis of Short-term (Operating) Activity Ratios 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

Ecolab Inc., short-term (operating) activity ratios (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Turnover Ratios
Inventory turnover 5.11 5.34 5.01 5.12 5.37 5.70 6.33 5.46 5.79 5.50 5.36 5.26 5.58 5.26 5.17 5.05 5.12
Receivables turnover 5.14 5.22 5.20 5.13 5.19 5.41 5.92 5.05 5.33 5.45 5.38 5.46 5.51 5.49 5.45 5.50 5.38
Payables turnover 5.50 5.94 5.86 6.11 5.95 6.62 7.15 6.52 6.79 6.88 6.71 6.99 6.87 6.99 6.49 6.33 6.29
Working capital turnover 11.23 5.94 4.65 5.07 5.40 6.65 6.89 6.62 12.44 15.61 20.35 24.71 14.79 11.81 14.61 23.04 11.88
Average No. Days
Average inventory processing period 71 68 73 71 68 64 58 67 63 66 68 69 65 69 71 72 71
Add: Average receivable collection period 71 70 70 71 70 68 62 72 68 67 68 67 66 67 67 66 68
Operating cycle 142 138 143 142 138 132 120 139 131 133 136 136 131 136 138 138 139
Less: Average payables payment period 66 61 62 60 61 55 51 56 54 53 54 52 53 52 56 58 58
Cash conversion cycle 76 77 81 82 77 77 69 83 77 80 82 84 78 84 82 80 81

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Ecolab Inc. inventory turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Ecolab Inc. receivables turnover ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Ecolab Inc. payables turnover ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Ecolab Inc. working capital turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Ecolab Inc. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Ecolab Inc. operating cycle improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Ecolab Inc. number of days of payables outstanding decreased from Q2 2021 to Q3 2021 but then increased from Q3 2021 to Q4 2021 exceeding Q2 2021 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Ecolab Inc. cash conversion cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Inventory Turnover

Ecolab Inc., inventory turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cost of sales, including special charges 2,043,100 2,016,700 1,844,000 1,712,000 1,780,300 1,769,600 1,635,700 1,720,200 2,211,100 2,207,400 2,208,200 2,096,700 2,216,800 2,190,700 2,146,100 2,072,300 1,950,700 1,891,300 1,871,600 1,691,500
Inventories 1,491,800 1,378,200 1,418,500 1,347,000 1,285,200 1,287,800 1,228,700 1,529,700 1,505,600 1,586,700 1,625,300 1,645,600 1,546,400 1,587,900 1,557,600 1,541,800 1,445,900 1,509,000 1,469,800 1,428,300
Short-term Activity Ratio
Inventory turnover1 5.11 5.34 5.01 5.12 5.37 5.70 6.33 5.46 5.79 5.50 5.36 5.26 5.58 5.26 5.17 5.05 5.12
Benchmarks
Inventory Turnover, Competitors2
Linde plc 10.12 9.86 9.56 9.20 8.90 8.93 9.16 9.69 9.81

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Inventory turnover = (Cost of sales, including special chargesQ4 2021 + Cost of sales, including special chargesQ3 2021 + Cost of sales, including special chargesQ2 2021 + Cost of sales, including special chargesQ1 2021) ÷ Inventories
= (2,043,100 + 2,016,700 + 1,844,000 + 1,712,000) ÷ 1,491,800 = 5.11

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Ecolab Inc. inventory turnover ratio improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.

Receivables Turnover

Ecolab Inc., receivables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Net sales 3,364,600 3,320,800 3,162,700 2,885,000 3,065,300 3,018,600 2,685,700 3,020,600 3,823,600 3,817,900 3,759,400 3,505,400 3,760,500 3,747,200 3,689,600 3,470,900 3,650,700 3,563,300 3,462,700 3,161,600
Accounts receivable, net 2,478,400 2,384,100 2,331,000 2,272,000 2,273,800 2,320,700 2,255,500 2,855,900 2,796,500 2,722,500 2,747,100 2,691,600 2,662,500 2,652,700 2,635,400 2,574,300 2,574,100 2,533,200 2,446,800 2,358,000
Short-term Activity Ratio
Receivables turnover1 5.14 5.22 5.20 5.13 5.19 5.41 5.92 5.05 5.33 5.45 5.38 5.46 5.51 5.49 5.45 5.50 5.38
Benchmarks
Receivables Turnover, Competitors2
Linde plc 6.84 6.82 6.67 6.70 6.54 6.71 6.81 6.86 6.53

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Receivables turnover = (Net salesQ4 2021 + Net salesQ3 2021 + Net salesQ2 2021 + Net salesQ1 2021) ÷ Accounts receivable, net
= (3,364,600 + 3,320,800 + 3,162,700 + 2,885,000) ÷ 2,478,400 = 5.14

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Ecolab Inc. receivables turnover ratio improved from Q2 2021 to Q3 2021 but then deteriorated significantly from Q3 2021 to Q4 2021.

Payables Turnover

Ecolab Inc., payables turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Cost of sales, including special charges 2,043,100 2,016,700 1,844,000 1,712,000 1,780,300 1,769,600 1,635,700 1,720,200 2,211,100 2,207,400 2,208,200 2,096,700 2,216,800 2,190,700 2,146,100 2,072,300 1,950,700 1,891,300 1,871,600 1,691,500
Accounts payable 1,384,200 1,237,100 1,213,300 1,128,200 1,160,600 1,108,400 1,087,700 1,279,500 1,284,300 1,269,400 1,297,900 1,237,700 1,255,600 1,195,300 1,242,100 1,229,100 1,177,100 1,115,900 1,123,600 1,039,300
Short-term Activity Ratio
Payables turnover1 5.50 5.94 5.86 6.11 5.95 6.62 7.15 6.52 6.79 6.88 6.71 6.99 6.87 6.99 6.49 6.33 6.29
Benchmarks
Payables Turnover, Competitors2
Linde plc 5.01 5.44 5.14 5.30 4.97 5.33 5.58 5.52 5.10

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Payables turnover = (Cost of sales, including special chargesQ4 2021 + Cost of sales, including special chargesQ3 2021 + Cost of sales, including special chargesQ2 2021 + Cost of sales, including special chargesQ1 2021) ÷ Accounts payable
= (2,043,100 + 2,016,700 + 1,844,000 + 1,712,000) ÷ 1,384,200 = 5.50

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Ecolab Inc. payables turnover ratio increased from Q2 2021 to Q3 2021 but then decreased significantly from Q3 2021 to Q4 2021.

Working Capital Turnover

Ecolab Inc., working capital turnover calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data (US$ in thousands)
Current assets 4,687,100 4,986,800 5,487,400 5,150,000 5,117,400 4,992,000 5,166,200 6,437,100 4,828,400 4,870,100 4,853,500 4,751,000 4,677,700 4,822,300 4,607,900 4,596,800 4,596,400 4,614,500 4,532,100 4,307,300
Less: Current liabilities 3,553,200 2,894,500 2,880,300 2,852,200 2,932,200 3,106,400 3,227,700 4,257,400 3,630,600 3,919,500 4,127,700 4,156,000 3,685,600 3,589,800 3,623,800 3,982,800 3,431,800 3,756,600 4,318,400 4,205,300
Working capital 1,133,900 2,092,300 2,607,100 2,297,800 2,185,200 1,885,600 1,938,500 2,179,700 1,197,800 950,600 725,800 595,000 992,100 1,232,500 984,100 614,000 1,164,600 857,900 213,700 102,000
 
Net sales 3,364,600 3,320,800 3,162,700 2,885,000 3,065,300 3,018,600 2,685,700 3,020,600 3,823,600 3,817,900 3,759,400 3,505,400 3,760,500 3,747,200 3,689,600 3,470,900 3,650,700 3,563,300 3,462,700 3,161,600
Short-term Activity Ratio
Working capital turnover1 11.23 5.94 4.65 5.07 5.40 6.65 6.89 6.62 12.44 15.61 20.35 24.71 14.79 11.81 14.61 23.04 11.88
Benchmarks
Working Capital Turnover, Competitors2
Linde plc

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Working capital turnover = (Net salesQ4 2021 + Net salesQ3 2021 + Net salesQ2 2021 + Net salesQ1 2021) ÷ Working capital
= (3,364,600 + 3,320,800 + 3,162,700 + 2,885,000) ÷ 1,133,900 = 11.23

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Ecolab Inc. working capital turnover ratio improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.

Average Inventory Processing Period

Ecolab Inc., average inventory processing period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Inventory turnover 5.11 5.34 5.01 5.12 5.37 5.70 6.33 5.46 5.79 5.50 5.36 5.26 5.58 5.26 5.17 5.05 5.12
Short-term Activity Ratio (no. days)
Average inventory processing period1 71 68 73 71 68 64 58 67 63 66 68 69 65 69 71 72 71
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Linde plc 36 37 38 40 41 41 40 38 37

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 5.11 = 71

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period. Ecolab Inc. number of days of inventory outstanding improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.

Average Receivable Collection Period

Ecolab Inc., average receivable collection period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Receivables turnover 5.14 5.22 5.20 5.13 5.19 5.41 5.92 5.05 5.33 5.45 5.38 5.46 5.51 5.49 5.45 5.50 5.38
Short-term Activity Ratio (no. days)
Average receivable collection period1 71 70 70 71 70 68 62 72 68 67 68 67 66 67 67 66 68
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Linde plc 53 54 55 54 56 54 54 53 56

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.14 = 71

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover.

Operating Cycle

Ecolab Inc., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 71 68 73 71 68 64 58 67 63 66 68 69 65 69 71 72 71
Average receivable collection period 71 70 70 71 70 68 62 72 68 67 68 67 66 67 67 66 68
Short-term Activity Ratio
Operating cycle1 142 138 143 142 138 132 120 139 131 133 136 136 131 136 138 138 139
Benchmarks
Operating Cycle, Competitors2
Linde plc 89 91 93 94 97 95 94 91 93

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 71 + 71 = 142

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Ecolab Inc. operating cycle improved from Q2 2021 to Q3 2021 but then slightly deteriorated from Q3 2021 to Q4 2021 not reaching Q2 2021 level.

Average Payables Payment Period

Ecolab Inc., average payables payment period calculation (quarterly data)

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Payables turnover 5.50 5.94 5.86 6.11 5.95 6.62 7.15 6.52 6.79 6.88 6.71 6.99 6.87 6.99 6.49 6.33 6.29
Short-term Activity Ratio (no. days)
Average payables payment period1 66 61 62 60 61 55 51 56 54 53 54 52 53 52 56 58 58
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Linde plc 73 67 71 69 73 68 65 66 72

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 5.50 = 66

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Ecolab Inc. number of days of payables outstanding decreased from Q2 2021 to Q3 2021 but then increased from Q3 2021 to Q4 2021 exceeding Q2 2021 level.

Cash Conversion Cycle

Ecolab Inc., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Selected Financial Data
Average inventory processing period 71 68 73 71 68 64 58 67 63 66 68 69 65 69 71 72 71
Average receivable collection period 71 70 70 71 70 68 62 72 68 67 68 67 66 67 67 66 68
Average payables payment period 66 61 62 60 61 55 51 56 54 53 54 52 53 52 56 58 58
Short-term Activity Ratio
Cash conversion cycle1 76 77 81 82 77 77 69 83 77 80 82 84 78 84 82 80 81
Benchmarks
Cash Conversion Cycle, Competitors2
Linde plc 16 24 22 25 24 27 29 25 21

Based on: 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

1 Q4 2021 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 71 + 7166 = 76

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Ecolab Inc. cash conversion cycle improved from Q2 2021 to Q3 2021 and from Q3 2021 to Q4 2021.