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Side-by-side financial comparison of Ecolab (ECL) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
Ecolab is the larger business by last-quarter revenue ($4.1B vs $4.0B, roughly 1.0× NetEase, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs 10.6%, a 20.4% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% CAGR vs 1.0%).
Ecolab Inc., headquartered in Saint Paul, Minnesota, provides products related to water treatment, sanitation, and hygiene, primarily to commercial and industrial customers.
NetEase, Inc. is a Chinese developer and publisher of online PC and mobile games, advertising services, email services, and e-commerce platforms. It is one of the largest Internet and video game companies in the world and was founded by Ding Lei in June 1997.
ECL vs NTES — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $4.0B |
| Net Profit | $432.6M | $1.2B |
| Gross Margin | — | 64.1% |
| Operating Margin | 15.3% | 28.3% |
| Net Margin | 10.6% | 31.0% |
| Revenue YoY | 10.0% | — |
| Net Profit YoY | 1.3% | — |
| EPS (diluted) | $1.52 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 26 | $4.1B | — | ||
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.2B | $4.0B | ||
| Q2 25 | $4.0B | $3.9B | ||
| Q1 25 | $3.7B | $4.0B | ||
| Q4 24 | $4.0B | — | ||
| Q3 24 | $4.0B | $3.7B | ||
| Q2 24 | $4.0B | $3.5B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | — | ||
| Q3 25 | $585.0M | $1.2B | ||
| Q2 25 | $524.2M | $1.3B | ||
| Q1 25 | $402.5M | $1.5B | ||
| Q4 24 | $472.9M | — | ||
| Q3 24 | $736.5M | $955.7M | ||
| Q2 24 | $490.9M | $939.6M |
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 44.8% | 64.1% | ||
| Q2 25 | 44.8% | 64.7% | ||
| Q1 25 | 44.2% | 64.1% | ||
| Q4 24 | 43.3% | — | ||
| Q3 24 | 43.4% | 62.9% | ||
| Q2 24 | 43.8% | 62.9% |
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | — | ||
| Q3 25 | 18.3% | 28.3% | ||
| Q2 25 | 17.6% | 32.5% | ||
| Q1 25 | 15.0% | 36.2% | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 26.1% | 27.3% | ||
| Q2 24 | 16.5% | 27.4% |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | — | ||
| Q3 25 | 14.0% | 31.0% | ||
| Q2 25 | 13.0% | 32.6% | ||
| Q1 25 | 10.9% | 36.6% | ||
| Q4 24 | 11.8% | — | ||
| Q3 24 | 18.4% | 25.6% | ||
| Q2 24 | 12.3% | 26.8% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | — | ||
| Q3 25 | $2.05 | — | ||
| Q2 25 | $1.84 | — | ||
| Q1 25 | $1.41 | — | ||
| Q4 24 | $1.65 | — | ||
| Q3 24 | $2.58 | — | ||
| Q2 24 | $1.71 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $519.8K | $31.3B |
| Total DebtLower is stronger | $8.5M | — |
| Stockholders' EquityBook value | $10.0M | $160.8B |
| Total Assets | $25.0M | $214.5B |
| Debt / EquityLower = less leverage | 0.85× | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | — | ||
| Q3 25 | $2.0B | $31.3B | ||
| Q2 25 | $1.9B | $54.4B | ||
| Q1 25 | $1.2B | $41.7B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $20.2B | ||
| Q2 24 | $384.0M | $19.0B |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | — | ||
| Q3 25 | $8.1B | — | ||
| Q2 25 | $7.5B | — | ||
| Q1 25 | $7.0B | — | ||
| Q4 24 | $6.9B | — | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $7.5B | — |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | — | ||
| Q3 25 | $9.7B | $160.8B | ||
| Q2 25 | $9.3B | $154.0B | ||
| Q1 25 | $8.9B | $147.8B | ||
| Q4 24 | $8.8B | — | ||
| Q3 24 | $8.5B | $135.6B | ||
| Q2 24 | $8.3B | $134.2B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | — | ||
| Q3 25 | $23.9B | $214.5B | ||
| Q2 25 | $23.7B | $208.5B | ||
| Q1 25 | $22.4B | $200.9B | ||
| Q4 24 | $22.4B | — | ||
| Q3 24 | $22.1B | $184.9B | ||
| Q2 24 | $21.5B | $183.3B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | — | ||
| Q3 25 | 0.83× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.79× | — | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.91× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $791.3M | $1.8B | ||
| Q2 25 | $701.8M | $1.5B | ||
| Q1 25 | $369.4M | $1.7B | ||
| Q4 24 | $766.7M | — | ||
| Q3 24 | $786.7M | $1.5B | ||
| Q2 24 | $611.1M | $898.8M |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | — | ||
| Q3 25 | $529.7M | $1.8B | ||
| Q2 25 | $485.1M | $1.5B | ||
| Q1 25 | $131.5M | $1.6B | ||
| Q4 24 | $407.0M | — | ||
| Q3 24 | $550.3M | $1.5B | ||
| Q2 24 | $414.2M | $875.6M |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 12.7% | 44.7% | ||
| Q2 25 | 12.1% | 38.3% | ||
| Q1 25 | 3.6% | 40.4% | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 13.8% | 38.9% | ||
| Q2 24 | 10.4% | 25.0% |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | — | ||
| Q3 25 | 6.3% | 1.0% | ||
| Q2 25 | 5.4% | 0.7% | ||
| Q1 25 | 6.4% | 1.6% | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 5.9% | 1.4% | ||
| Q2 24 | 4.9% | 0.7% |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | — | ||
| Q3 25 | 1.35× | 1.47× | ||
| Q2 25 | 1.34× | 1.20× | ||
| Q1 25 | 0.92× | 1.15× | ||
| Q4 24 | 1.62× | — | ||
| Q3 24 | 1.07× | 1.58× | ||
| Q2 24 | 1.24× | 0.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ECL
| Product and equipment sales | $3.2B | 78% |
| Service and lease sales | $891.5M | 22% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
