ECL vs. PPG: Ecolab vs. PPG Industries Stock Comparison

November 11, 2026

How do Ecolab (ECL) and PPG Industries (PPG) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Ecolab (ECL) and PPG Industries (PPG) are both classified in the Specialty Chemicals sub-industry within the broader Chemicals industry, placing them in the closest GICS peer bucket.

Company profile comparison for Ecolab (ECL) and PPG Industries (PPG)
Profile Item	ECL	PPG
Name	Ecolab Inc.	PPG Industries, Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Chemicals
GICS Sub-Industry	Specialty Chemicals	Specialty Chemicals
Market Capitalization	84.33 billion USD	27.03 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	February 21, 1973	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

ECL

PPG

GSPC

Ecolab (ECL) vs. PPG Industries (PPG), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Ecolab (ECL) and PPG Industries (PPG). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Ecolab (ECL) and PPG Industries (PPG). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Total Return (1Y)	20.33%	33.84%
Total Return (3Y, Annualized)	21.41%	1.70%
Total Return (5Y, Annualized)	6.90%	-2.93%

Risk Profile

Drawdown History

ECL

PPG

GSPC

Ecolab (ECL) vs. PPG Industries (PPG), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Ecolab (ECL) and PPG Industries (PPG). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Volatility (1Y, Annualized)	21.72%	31.28%
Beta (5Y)	0.84	0.97
Max Drawdown (5Y)	-43.70%	-43.55%
Avg. Volume (3M)	1.40M	1.73M

Risk-Adjusted Performance

Risk-Return Positioning

ECL and PPG are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Sharpe Ratio (1Y)	0.74	0.95
Sortino Ratio (1Y)	1.13	1.45

Profitability

ROE (TTM)

Ecolab (ECL) at 20.77% sits in the top ROE quartile, while PPG Industries (PPG) at 19.49% is closer to the peer norm — stronger capital efficiency for ECL.

ECL

Materials industry group

20.77%

Max: 52.88%
ECL: 20.77%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

PPG

Materials industry group

19.49%

Max: 52.88%
PPG: 19.49%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Both Ecolab (ECL) at 11.99% and PPG Industries (PPG) at 9.41% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

ECL

Materials industry group

11.99%

Max: 38.66%
Q3: 15.98%
ECL: 11.99%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

PPG

Materials industry group

9.41%

Max: 38.66%
Q3: 15.98%
PPG: 9.41%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Both Ecolab (ECL) at 19.22% and PPG Industries (PPG) at 14.66% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

ECL

Materials industry group

19.22%

Max: 66.70%
Q3: 28.92%
ECL: 19.22%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

PPG

Materials industry group

14.66%

Max: 66.70%
Q3: 28.92%
PPG: 14.66%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
ROE (TTM)	20.77%	19.49%
ROA (TTM)	7.29%	6.22%
Net Margin (TTM)	11.99%	9.41%
Operating Margin (TTM)	19.22%	14.66%
Gross Margin (TTM)	44.04%	41.18%

Growth

Revenue Growth

Both Ecolab (ECL) at 2.16% and PPG Industries (PPG) at 0.19% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Ecolab (ECL) at -1.22% and PPG Industries (PPG) at 46.11% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Revenue Growth (YoY)	2.16%	0.19%
Revenue Growth (3Y CAGR)	4.26%	0.55%
EPS Growth (YoY)	-1.22%	46.11%
EPS Growth (3Y CAGR)	24.09%	17.12%

Financial Strength

Current Ratio (MRQ)

PPG Industries (PPG) at 1.58 keeps current ratio within its industry’s typical mid-range, while Ecolab (ECL) at 1.11 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for ECL.

ECL

Materials industry group

1.11

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
ECL: 1.11
Min: 0.16

PPG

Materials industry group

1.58

Max: 5.96
Q3: 3.30
Median: 2.24
PPG: 1.58
Q1: 1.45
Min: 0.16

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

PPG Industries (PPG) at 0.87 carries an industry-typical debt-to-equity mix, while Ecolab (ECL) at 1.33 uses more debt funding than most peers.

ECL

Materials industry group

1.33

Max: 1.98
ECL: 1.33
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

PPG

Materials industry group

0.87

Max: 1.98
Q3: 0.89
PPG: 0.87
Median: 0.47
Q1: 0.13
Min: 0.00

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Current Ratio (MRQ)	1.11	1.58
Debt / Equity (MRQ)	1.33	0.87
Net Debt / EBITDA	3.09	2.11

Dividends

Dividend Yield (TTM)

PPG Industries (PPG) at 2.33% delivers top-quartile income for its industry, while Ecolab (ECL) at 0.95% pays a more typical yield — both are credible income propositions, PPG the richer one.

ECL

Materials industry group

0.95%

Max: 4.52%
Q3: 1.85%
ECL: 0.95%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

PPG

Materials industry group

2.33%

Max: 4.52%
PPG: 2.33%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Ecolab (ECL) at 39.73% and PPG Industries (PPG) at 40.31% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

ECL

Materials industry group

39.73%

Max: 83.62%
Q3: 41.37%
ECL: 39.73%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

PPG

Materials industry group

40.31%

Max: 83.62%
Q3: 41.37%
PPG: 40.31%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
Dividend Yield (TTM)	0.95%	2.33%
Dividend Payout Ratio (TTM)	39.73%	40.31%

Valuation

P/E Ratio (TTM)

PPG Industries (PPG) at 17.19 is near its industry’s usual P/E ratio, while Ecolab (ECL) at 40.91 sits in the richer quartile — ECL needs stronger growth or earnings quality to justify the premium.

ECL

Materials industry group

40.91

Max: 59.00
ECL: 40.91
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

PPG

Materials industry group

17.19

Max: 59.00
Q3: 32.93
Median: 18.82
PPG: 17.19
Q1: 11.96
Min: 3.93

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

PPG Industries (PPG) at 1.62 is priced about in line with its industry on P/S ratio, while Ecolab (ECL) at 4.85 sits in the pricier quartile — ECL costs more per dollar of sales.

ECL

Materials industry group

4.85

Max: 9.62
ECL: 4.85
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

PPG

Materials industry group

1.62

Max: 9.62
Q3: 4.34
Median: 1.87
PPG: 1.62
Q1: 0.73
Min: 0.00

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

PPG Industries (PPG) at 3.19 sits near its industry’s typical P/B ratio, while Ecolab (ECL) at 8.09 prices above its benchmark range — ECL looks rich relative to book.

ECL

Materials industry group

8.09

ECL: 8.09
Max: 6.59
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

PPG

Materials industry group

3.19

Max: 6.59
Q3: 3.55
PPG: 3.19
Median: 2.08
Q1: 1.26
Min: -0.17

Ecolab (ECL) vs. PPG Industries (PPG): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Ecolab (ECL) and PPG Industries (PPG)
Metric	ECL	PPG
P/E Ratio (TTM)	40.91	17.19
P/S Ratio (TTM)	4.85	1.62
P/B Ratio (MRQ)	8.09	3.19
Free Cash Flow Yield (TTM)	1.71%	4.06%