Risk Sleuth
ECL · 10-K filed 23 Feb 2026 · year to 31 Dec 2025

Ecolab

27 named things its latest annual report says its results depend on, each in the company's own words. 20 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Quick service restaurant (QSR) chains and food retailers

concentrated innamed as a risk
While Specialty’s customer base has broadened significantly over the years, Specialty’s business remains largely dependent upon a limited number of major QSR chains and franchisees and large food retail customers.Business (Item 1)

Other companies

Floating rate debt

exposed to its price · approximately $15 million per yearnamed as a risk
For example, a one percentage point increase in the average interest rate on our floating rate debt at December 31, 2025 would increase future interest expense by approximately $15 million per year; andRisk factors (Item 1A)

Also named by ET, HD, SCI, TEX

Nalco, Purolite and Ovivo Electronics acquisitions goodwill

goodwill of $9.2 billionnamed as a risk
As of December 31, 2025, we had goodwill of $9.2 billion which is maintained in various reporting units, including goodwill from the Nalco, Purolite and Ovivo Electronics transactions.Risk factors (Item 1A)

Warewashing products

earns from · approximately 13% of consolidated net sales in 2025
Sales of warewashing products were approximately 13% of consolidated net sales in 2025 and 12% in 2024 and 2023.Business (Item 1)

ChampionX Corporation

named as a risk
If we are required to indemnify ChampionX under the circumstances set forth in these agreements, we may be subject to substantial related liabilities.Risk factors (Item 1A)

Also named by SLB

Places

International operations (outside United States)

earns from · approximately 47% of our net salesnamed as a risk
We conduct business in more than 170 countries and, in 2025, approximately 47% of our net sales were generated from customers outside the United States.Risk factors (Item 1A)

Also named by APG, AXP, CARR, COP, COST, DD, EQIX, FIS and 14 more

Russia

operates innamed as a risk
Following Russia’s invasion of Ukraine and the United States’ and other countries’ sanctions against Russia, we have limited our Russian business to operations that are essential to life, providing minimal support for our healthcare, life sciences, food and beverage and certain water businesses, and we may further narrow our presence in Russia depending on developments in the conflict or otherwise.Risk factors (Item 1A)

Also named by ALSN, ATR, AVY, AXP, BKR, BSX, C, CDNA and 50 more

Argentina

operates innamed as a risk
Countries such as Argentina and Turkey have experienced economic upheaval and similar upheaval in other countries with Ecolab operations could have a material adverse impact on our consolidated results of operations, financial position and cash flows by negatively impacting economic activity, including in our key end-markets, and by further weakening the local currency versus the U.S. dollar, resulting in reduced sales and earnings from our foreign operations, which are generated in the local currency, and then translated to U.S. dollars.Risk factors (Item 1A)

Also named by BALL, C, FISV, GMED, INGR, JNJ, KMB, MDLZ and 6 more

U.S. Gulf Coast

concentrated innamed as a risk
In particular, the U.S. Gulf Coast is a region with significant refining, petrochemicals and chemicals operations which provide us raw materials, as well as being an important customer base for our Light & Heavy operating segment.Risk factors (Item 1A)

Also named by CP, DOW, OLN, PAA, PWR, VLO

Turkey

operates innamed as a risk
Countries such as Argentina and Turkey have experienced economic upheaval and similar upheaval in other countries with Ecolab operations could have a material adverse impact on our consolidated results of operations, financial position and cash flows by negatively impacting economic activity, including in our key end-markets, and by further weakening the local currency versus the U.S. dollar, resulting in reduced sales and earnings from our foreign operations, which are generated in the local currency, and then translated to U.S. dollars.Risk factors (Item 1A)

Also named by BALL, COR, IQV, JNJ, META, YUM

Europe energy crisis

operates innamed as a risk
Recently, the war and energy crisis in Europe have resulted in a more challenging macroeconomic environment with significantly impacted costs and demand.Risk factors (Item 1A)

United States

operates in
In addition to the United States, which constitutes our largest operation, we operate in various regions, including in Asia Pacific, Greater China, Western Europe and Latin America.Business (Item 1)

Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more

Hazards

Gulf Coast hurricanes

concentrated innamed as a risk
Hurricanes or other severe weather events impacting the Gulf Coast, such as the winter freeze in Texas and the Gulf Coast in February 2021, can materially and adversely affect our ability to obtain raw materials at reasonable cost, or at all, and could adversely affect our business with our customers in the region.Risk factors (Item 1A)

Also named by ALB, EPD, PAGP, PSX, TRGP

Commodities and inputs

Raw materials (chemicals)

exposed to its price · approximately five percent of raw material purchasesnamed as a risk
We purchase more than 10,000 raw materials, with the largest single raw material representing approximately five percent of raw material purchases.Business (Item 1)

Also named by CSL, KDP, Q

Regulators

U.S. Food and Drug Administration (FDA)

subject to
In the United States, we are required to register with the FDA as a medical device, drug and cosmetic manufacturer, comply with post-market reporting (e.g., Adverse Event Reporting, MDR and Recall) requirements, and to comply with the FDA’s current Good Manufacturing Practices and Good Practice Guidelines (“GxPs”), which ensure that products are consistently produced and controlled according to quality standards and must be approved by the competent authorities.Business (Item 1)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

Laws and programs

OECD Pillar Two global minimum tax

subject to · 15% global minimum taxation regimenamed as a risk
Pillar Two took effect in several jurisdictions in which we operate starting in 2024 and will increase the burden and costs of our tax compliance.Risk factors (Item 1A)

Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more

CERCLA (Superfund)

subject to · 16 sites in the United Statesnamed as a risk
Along with numerous other potentially responsible parties (“PRP”), we are currently involved with waste disposal site clean-up activities imposed by the federal Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) or state equivalents at 16 sites in the United States.Business (Item 1)

Also named by AA, AAOI, ALB, AN, APD, APLD, ATI, AWK and 27 more

Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA)

subject to · several hundred product registrations
We maintain several hundred product registrations with the U.S. Environmental Protection Agency (“EPA”).Business (Item 1)

Also named by CTVA, EMN, POOL, SMG

U.S. tariffs

subject tonamed as a risk
These tariffs, any new tariffs or policies imposed by governments around the world, or any resulting retaliatory measures, to the extent implemented, could increase our costs, reduce our sales and earnings or otherwise have an adverse effect on our operations.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Toxic Substances Control Act (TSCA)

subject tonamed as a risk
Future EPA risk evaluation decisions may result in the reduction or elimination of future uses for some products.Business (Item 1)

Also named by A, ALB, CLH, EMN, ESI, IFF, OLN, PRM and 1 more

EU REACH Regulation

subject tonamed as a risk
In addition, the European Commission has announced a revision of the REACH Regulation, with a legislative proposal expected in the third quarter of 2026, introducing simplified but stricter chemical controls that may increase compliance requirements and affect parts of Ecolab’s raw material portfolio; however, the potential financial impact is not yet fully quantifiable and is not expected to have a material adverse effect on our consolidated results of operations, cash flows, or financial position.Business (Item 1)

Also named by GEV, IDXX, VRT

One Big Beautiful Bill Act (OBBBA)

subject to
While we expect certain provisions of OBBBA to change the timing of U.S. cash taxes related to the current and future periods, OBBBA did not have a material impact to the Company’s income tax expense.Risk factors (Item 1A)

Also named by AA, ABR, ADI, ADM, ALB, AMAT, AMGN, AMKR and 121 more

California Proposition 65

subject to
Under California Proposition 65, for example, label disclosures are required for certain products containing chemicals listed by California.Business (Item 1)

Also named by ARE, CELH, KDP, KO, LKQ, MKC, MNST, PEP and 3 more

EU Medical Device Regulation (EU) 2017/745

subject to
Implementation of the MDR has required additional investments, including system, product, process, technical file and product improvements.Business (Item 1)

Also named by GMED, KVUE

EU Biocidal Products Regulation

subject to
Anticipated registration costs, which will be incurred through the multi-year phase-in period, will be significant; however, these costs are not expected to significantly affect our consolidated results of operations or cash flows in any one reporting period or our financial position.Business (Item 1)

California pesticide sales tax

subject to
However, California and certain other states have adopted additional regulatory programs, and California imposes a tax on total pesticide sales in that state.Business (Item 1)

Technology

Ecolab, Nalco and 3D TRASAR trademarks

depends on
Trademarks related to Ecolab, Nalco and 3D TRASAR, which collectively are material to all of our reportable segments.Business (Item 1)