Ecolab Inc (NYSE: ECL) is a water, hygiene, and infection prevention solutions company that sells chemical products, equipment, and related services to commercial and institutional customers. Revenue comes from two streams: product and equipment sales, and service and lease sales, both recognized on a transactional basis across its operating segments. The filing reflects operations across multiple reportable segments with both domestic and international exposure, including sales denominated in foreign currencies that are reported at fixed and public currency rates. The 10-K filed February 23, 2026 (accession 0001104659-26-018357) covers fiscal year 2025. Ecolab carries long-term debt on its balance sheet, issued $1,045.6 million in long-term borrowings in FY2025 while repaying $674.2 million, and deployed $2,707.2 million in investing activities during the same period, a significant increase from $433.8 million in FY2024, consistent with acquisition activity. The company pays dividends and has noncontrolling interest in certain subsidiaries.

Revenue model

Transactional revenue from product and equipment sales and from service and lease arrangements. Both revenue streams have corresponding cost-of-sales line items disclosed separately in the income statement.

Products and services

Products include chemical formulations sold to commercial customers. Equipment sales and lease arrangements accompany chemical programs. Service revenue covers field service and application support tied to those programs.

Customers and end markets

The filing does not specify customer names, concentration percentages, or end-market breakdowns in the excerpts provided.

Value-chain role

Manufacturer and service provider of specialty chemicals and equipment, with a direct field-service sales model delivering products and application support to end customers.

Geographic exposure

Operations span domestic and international markets. Foreign currency translation had a 2% positive impact on public currency sales change in FY2025, indicating material non-U.S. revenue. Specific country or regional revenue splits are not supported by the excerpts provided.

Source: SEC 10-K, filed 2026-02-23

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