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Held by 1,647 of 6,047 reporting institutions (99th percentile) — extremely crowded.
Data as of Q2 2026
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Ranked against 13 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PG | $363.6B | 23.6× | 17.4× | 4.2× | 3.3% | 50.2% | 18.4% | 29.5% | 18.1% | 1.5× | 3,918 |
| ECL | $80.7B | 39.5× | 25.9× | 5.0× | 2.2% | 44.5% | 12.9% | 21.2% | 11.5% | 2.2× | 1,647 |
| CL | $74.0B | 35.3× | 20.5× | 3.6× | 1.4% | 60.1% | 10.5% | — | 26.5% | 1.7× | 1,958 |
| EL | $36.8B | 203.2× | 23.7× | 2.5× | 5.0% | 75.5% | 1.2% | 4.8% | 4.2% | 0.3× | 807 |
| KVUE | $34.6B | 23.7× | 11.8× | 2.3× | -2.1% | 58.1% | 9.7% | 13.7% | 12.0% | 0.1× | 974 |
| CHD | $24.3B | 34.0× | 19.7× | 3.9× | 1.6% | 44.7% | 11.9% | 18.4% | 11.9% | 1.4× | 1,026 |
| CLX | $10.3B | 13.0× | — | 1.4× | 0.2% | 45.2% | 11.4% | 252% | 28.9% | — | 1,027 |
| ELF | $6.4B | 245.8× | 45.5× | 3.9× | 24.6% | 70.7% | 1.6% | 2.3% | 1.3% | 3.8× | 428 |
| IPAR | $3.7B | 21.9× | 12.8× | 2.5× | 2.5% | 63.6% | 11.3% | 19.1% | 16.6% | 0.4× | 304 |
| COTY | $2.6B | — | 13.6× | 0.5× | -1.5% | 62.9% | -10.4% | -20.2% | -10.0% | 7.2× | 308 |
| SCL | $1.4B | 30.3× | 9.3× | 0.6× | 7.0% | 11.6% | 2.0% | 3.8% | 2.5% | 2.4× | 223 |
| EPC | $1.3B | 53.3× | 14.5× | 0.6× | -1.3% | 41.6% | 1.1% | 1.6% | 0.9% | 7.5× | 215 |
| ODD | $998M | 12.0× | 4.6× | 1.2× | 25.2% | 72.7% | 13.7% | 27.9% | 27.9% | -3.1× | 138 |
| WALD | $108M | — | — | 0.4× | -0.7% | 67.3% | -84.4% | -49.7% | -38.4% | — | — |
Peers = companies sharing ECL's sector (Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
How management deployed cash over 10 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Modest payoff on reinvested capital. Current ROIC on all capital: 12%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $646.2M is below the $759.0M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~3.7% on $8.24B of debt.
Cash of $646.2M is below short-term debt of $870.4M — relies on refinancing/operations.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 40% of free cash flow, leaving room to grow it and fund buybacks. Last year: $753.6M dividends + $783.8M buybacks = $1.54B returned on $1.90B FCF.
9 consecutive years of dividend increases · 7%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $287.71 today, the market must believe free cash flow compounds 15.6%/yr for a decade (off $1.79B on the 3-yr avg basis).
On the basis ($1.66B) the requirement is 16.6%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 15.6% is more optimistic than its 9-yr track record.
Default is 8.2% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.28B shares (market data) · net debt $7.59B
mean 7.5% · volatility σ 22% · implied rate exceeded in 2/9 yrs
Central path = implied 15.6%/yr growth; shaded band = ±1σ (22%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $16.08B 100.0% | $15.74B 100.0% | $15.32B 100.0% | $14.19B 100.0% | $12.73B 100.0% | $11.79B 100.0% | $12.56B 100.0% | $12.22B 100.0% | $11.53B 100.0% | $13.15B 100.0% |
| Cost of Revenue | $8.93B 55.5% | $8.90B 56.5% | $9.15B 59.8% | $8.83B 62.2% | $7.62B 59.8% | $6.91B 58.6% | $7.05B 56.1% | $6.88B 56.3% | $6.41B 55.6% | $7.53B 57.3% |
| Research & Development | $202.0M 1.3% | $207.0M 1.3% | $192.0M 1.3% | $190.0M 1.3% | $186.0M 1.5% | $185.0M 1.6% | $190.0M 1.5% | $193.0M 1.6% | $177.0M 1.5% | $189.0M 1.4% |
| Selling, General & Admin | $4.26B 26.5% | $4.23B 26.9% | $4.06B 26.5% | $3.65B 25.8% | $3.42B 26.8% | $3.31B 28.1% | $3.55B 28.3% | $3.51B 28.7% | $3.36B 29.2% | $3.71B 28.2% |
| Operating Income | $2.74B 17.0% | $2.80B 17.8% | $1.99B 13.0% | $1.56B 11.0% | $1.60B 12.6% | $1.40B 11.8% | $1.85B 14.7% | $1.73B 14.1% | $1.75B 15.2% | $1.87B 14.2% |
| Interest Expense | $306.2M 1.9% | $340.3M 2.2% | $348.9M 2.3% | $252.1M 1.8% | $230.6M 1.8% | $304.8M 2.6% | $214.4M 1.7% | $235.5M 1.9% | $272.2M 2.4% | $285.4M 2.2% |
| Interest & Investment Income | $65.1M 0.4% | $57.8M 0.4% | $52.2M 0.3% | $8.5M 0.1% | $12.3M 0.1% | $14.6M 0.1% | $23.7M 0.2% | $14.4M 0.1% | $17.6M 0.2% | $20.8M 0.2% |
| Other Income (Expense), net | $51.4M 0.3% | $51.3M 0.3% | $59.9M 0.4% | $24.5M 0.2% | $33.9M 0.3% | $55.9M 0.5% | $77.0M 0.6% | $79.9M 0.7% | $67.3M 0.6% | $43.8M 0.3% |
| Pretax Income | $2.55B 15.8% | $2.57B 16.3% | $1.76B 11.5% | $1.34B 9.5% | $1.41B 11.1% | $1.16B 9.9% | $1.73B 13.8% | $1.59B 13.0% | $1.56B 13.5% | $1.65B 12.5% |
| Income Tax Expense | $454.6M 2.8% | $439.3M 2.8% | $362.5M 2.4% | $234.5M 1.7% | $270.2M 2.1% | $176.6M 1.5% | $288.6M 2.3% | $321.2M 2.6% | $189.8M 1.6% | $402.9M 3.1% |
| Net Income | $2.08B 12.9% | $2.11B 13.4% | $1.37B 9.0% | $1.09B 7.7% | $1.13B 8.9% | -$1.19B -10.1% | $1.58B 12.5% | $1.44B 11.8% | $1.52B 13.2% | $1.25B 9.5% |
| Per Share | ||||||||||
| EPS (Basic) | $7.33 | $7.43 | $4.82 | $3.83 | $3.95 | -$4.20 | $5.41 | $4.95 | $5.20 | $4.20 |
| EPS (Diluted) | $7.28 | $7.37 | $4.79 | $3.81 | $3.91 | -$4.15 | $5.33 | $4.88 | $5.12 | $4.14 |
| Weighted Avg Shares (Basic) | 283.3M | 284.3M | 285.0M | 285.2M | 286.3M | 287.0M | 288.1M | 288.6M | 289.6M | 292.5M |
| Weighted Avg Shares (Diluted) | 285.2M | 286.6M | 286.5M | 286.6M | 289.1M | 290.3M | 292.5M | 292.8M | 294.0M | 296.7M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-14
Where each multiple sits in its own 14-yr range · 89th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 21% against ROIC 12% — 10% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 22.4% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 56.3 | 56.1 | 58.6 | 59.8 | 62.2 | 59.8 | 56.5 | 55.5 |
| R&D | 1.6 | 1.5 | 1.6 | 1.5 | 1.3 | 1.3 | 1.3 | 1.3 |
| SG&A | 28.7 | 28.3 | 28.1 | 26.8 | 25.8 | 26.5 | 26.9 | 26.5 |
| Operating Income | 14.1 | 14.7 | 11.8 | 12.6 | 11.0 | 13.0 | 17.8 | 17.0 |
| Income Tax | 2.6 | 2.3 | 1.5 | 2.1 | 1.7 | 2.4 | 2.8 | 2.8 |
| Net Income | 11.8 | 12.5 | -10.1 | 8.9 | 7.7 | 9.0 | 13.4 | 12.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ECL: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 4.55pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 9.9% | 8.2% (today's — no rate published for this year) | 1.7pts |
| FY2020 | 9.5% | 8.2% (today's — no rate published for this year) | 1.3pts |
| FY2021 | 8.1% | 6.9% | 1.2pts |
| FY2022 | 8.2% | 9.3% | -1.1pts |
| FY2023 | 10.3% | 9.3% | 1.0pts |
| FY2024 | 14.7% | 8.9% | 5.8pts |
| FY2025 | 12.5% | 7.5% | 5.0pts |
| Now | 11.5% | 8.2% | 3.3pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 42.7% | 14.2% | 9.5% |
| FY2017 | 41.7% | 14.1% | 11.0% |
| FY2018 | 43.7% | 14.1% | 11.8% |
| FY2019 | 43.9% | 14.7% | 12.5% |
| FY2020 | 41.4% | 11.8% | -10.1% |
| FY2021 | 40.2% | 12.6% | 8.9% |
| FY2022 | 37.8% | 11.0% | 7.7% |
| FY2023 | 40.2% | 13.0% | 9.0% |
| FY2024 | 43.5% | 17.8% | 13.4% |
| FY2025 | 44.5% | 17.0% | 12.9% |
Leverage and buybacks account for 10 points of the 21% return on equity in FY2025. The business earns 12% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$9.4B of goodwill — 54% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer. With goodwill over half the base, the ex-goodwill figure divides by a small remainder and moves sharply — read it as a direction, not a precise rate.
ROIC ex-goodwill is 27.75% against 12.78% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 1.04x of reported profit into cash — adequate, without much margin.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Covers interest 6.3x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 8.94x |
| 5% | 8.49x |
| 10% | 8.05x |
| 15% | 7.60x |
| 20% | 7.15x |
| 25% | 6.71x |
| 30% | 6.26x |
| 35% | 5.81x |
| 40% | 5.36x |
| 45% | 4.92x |
| 50% | 4.47x |
| 55% | 4.02x |
| 60% | 3.58x |
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $287.71, free cash flow must compound 15.65%/yr for 10 years. It has done 2.02%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −18.8% | 15.6% |
| FY2021 | 3.5% | 15.6% |
| FY2022 | −24.2% | 15.6% |
| FY2023 | 52.2% | 15.6% |
| FY2024 | 11.1% | 15.6% |
| FY2025 | 4.7% | 15.6% |
The implied rate has been matched or beaten in 1 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $2.08B | $2.08B |
| Share-based comp | $137M | $2.21B |
| Other non-cash & working capital | $740M | $2.95B |
| Operating cash flow | $2.95B | $2.95B |
| Capex | −$1.05B | $1.90B |
| Free cash flow | $1.90B | $1.90B |
| FCF after SBC | $1.77B | $1.77B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -6.1% | -4.5% | 1.6 points |
| FY2021 | 8.0% | 9.0% | 1.0 points |
| FY2022 | 11.4% | 8.9% | -2.6 points |
| FY2023 | 8.0% | 5.0% | -2.9 points |
| FY2024 | 2.8% | 1.1% | -1.7 points |
| FY2025 | 2.2% | 13.4% | 11.3 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 69.2 days | 56 days | 55.7 days | 69.5 days |
| FY2020 | 70.4 days | 67.9 days | 61.3 days | 77 days |
| FY2021 | 71 days | 71.5 days | 66.3 days | 76.2 days |
| FY2022 | 69.4 days | 74.1 days | 71.4 days | 72.1 days |
| FY2023 | 67.5 days | 59.7 days | 62.4 days | 64.8 days |
| FY2024 | 66.4 days | 60.1 days | 74.2 days | 52.3 days |
| FY2025 | 73.8 days | 60.9 days | 84.6 days | 50 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -4.0 percent |
| FY2020 | -16.8 percent |
| FY2021 | -4.4 percent |
| FY2022 | -3.3 percent |
| FY2023 | -4.8 percent |
| FY2024 | -3.1 percent |
| FY2025 | -3.5 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.