Ecolab vs LyondellBasell
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KIRA’s take AI analyst
I put Ecolab and LyondellBasell side by side, using each one’s latest annual report. Here is what stands out:
- LyondellBasell is the larger business, with $30.2B of revenue in fiscal 2025 against $16.1B for Ecolab, about 1.9 times as much.
- Ecolab grew revenue faster (2.2%, against −9.7%).
- Ecolab kept more of each dollar of sales as operating profit (17.0% operating margin, against −1.4%).
- Ecolab turned more of its sales into free cash flow (11.8% FCF margin, against 1.3%).
- Ecolab earned a higher return on the capital invested in it (13.8%, against −1.9%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Ecolab
ECL
9/9
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
LyondellBasell
LYB
0/9
Side by side
Best in the row
| Latest fiscal year | ECL FY25 | LYB FY25 |
|---|---|---|
| Size | ||
| Market cap | $81.5B | — |
| Revenue | $16.1B | $30.2B |
| Free cash flow | $1.9B | $384M |
| Net income | $2.1B | −$738M |
| Growth | ||
| Revenue growth | 2.2% | −9.7% |
| 5-year growth | 6.4% | 1.7% |
| Share count change | −0.5% | — |
| Profitability | ||
| Gross margin | 44.5% | 8.6% |
| Operating margin | 17.0% | −1.4% |
| Net margin | 12.9% | −2.5% |
| FCF margin | 11.8% | 1.3% |
| Return on capital | 13.8% | −1.9% |
| Return on equity | 22.4% | −6.6% |
| Balance sheet | ||
| Net debt | $7.6B | $7.5B |
| Net debt / EBITDA | 2.0x | 7.7x |
| Dividends and buybacks | $1.5B | $2.0B |
| Valuation & quality | ||
| P/E | 38.8x | — |
| Piotroski F-score | 5 | — |
Ten years
Revenue
FY16
ECL $13.2B
LYB $29.2B
FY17
ECL $13.8B
LYB $34.5B
FY18
ECL $12.2B
LYB $39.0B
FY19
ECL $12.6B
LYB $34.7B
FY20
ECL $11.8B
LYB $27.8B
FY21
ECL $12.7B
LYB $46.2B
FY22
ECL $14.2B
LYB $50.5B
FY23
ECL $15.3B
LYB $33.3B
FY24
ECL $15.7B
LYB $33.4B
FY25
ECL $16.1B
LYB $30.2B
ECL
LYB
Operating margin
FY16
ECL 14.2%
LYB 17.3%
FY17
ECL 14.1%
LYB 15.8%
FY18
ECL 14.1%
LYB 13.4%
FY19
ECL 14.7%
LYB 11.9%
FY20
ECL 11.8%
LYB 5.6%
FY21
ECL 12.6%
LYB 14.7%
FY22
ECL 11.0%
LYB 10.1%
FY23
ECL 13.0%
LYB 8.2%
FY24
ECL 17.8%
LYB 5.7%
FY25
ECL 17.0%
LYB −1.4%
ECL
LYB
Free cash flow
FY16
ECL $1.2B
LYB $3.4B
FY17
ECL $1.2B
LYB $3.7B
FY18
ECL $1.5B
LYB $3.4B
FY19
ECL $1.7B
LYB $2.3B
FY20
ECL $1.4B
LYB $1.5B
FY21
ECL $1.4B
LYB $5.7B
FY22
ECL $1.1B
LYB $4.2B
FY23
ECL $1.6B
LYB $3.4B
FY24
ECL $1.8B
LYB $2.0B
FY25
ECL $1.9B
LYB $384M
ECL
LYB
Return on capital
FY16
ECL 10.6%
LYB 29.0%
FY17
ECL 12.0%
LYB 35.0%
FY18
ECL 9.3%
LYB 27.9%
FY19
ECL 10.3%
LYB 18.4%
FY20
ECL 8.9%
LYB 7.7%
FY21
ECL 9.5%
LYB 25.8%
FY22
ECL 8.4%
LYB 19.0%
FY23
ECL 10.3%
LYB 11.0%
FY24
ECL 15.3%
LYB 9.0%
FY25
ECL 13.8%
LYB −1.9%
ECL
LYB
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.