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Side-by-side financial comparison of Ecolab (ECL) and Principal Financial Group (PFG). Click either name above to swap in a different company.
Principal Financial Group is the larger business by last-quarter revenue ($4.6B vs $4.1B, roughly 1.1× Ecolab). Principal Financial Group runs the higher net margin — 11.3% vs 10.6%, a 0.7% gap on every dollar of revenue. On growth, Ecolab posted the faster year-over-year revenue change (10.0% vs -3.7%). Over the past eight quarters, Principal Financial Group's revenue compounded faster (6.3% 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.
Principal Financial GroupPFGEarnings & Financial Report
Principal Financial Group, Inc. (PFG) is an American global financial investment management and insurance company headquartered in Des Moines, Iowa, United States.
ECL vs PFG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $4.6B |
| Net Profit | $432.6M | $517.0M |
| Gross Margin | — | — |
| Operating Margin | 15.3% | — |
| Net Margin | 10.6% | 11.3% |
| Revenue YoY | 10.0% | -3.7% |
| Net Profit YoY | 1.3% | -42.9% |
| EPS (diluted) | $1.52 | $2.30 |
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 | $4.6B | ||
| Q3 25 | $4.2B | $3.7B | ||
| Q2 25 | $4.0B | $3.7B | ||
| Q1 25 | $3.7B | $3.7B | ||
| Q4 24 | $4.0B | $4.8B | ||
| Q3 24 | $4.0B | $3.0B | ||
| Q2 24 | $4.0B | $4.3B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $517.0M | ||
| Q3 25 | $585.0M | $213.8M | ||
| Q2 25 | $524.2M | $406.2M | ||
| Q1 25 | $402.5M | $48.1M | ||
| Q4 24 | $472.9M | $905.4M | ||
| Q3 24 | $736.5M | $-220.0M | ||
| Q2 24 | $490.9M | $353.1M |
| Q2 26 | — | — | ||
| Q4 25 | 44.0% | — | ||
| Q3 25 | 44.8% | — | ||
| Q2 25 | 44.8% | — | ||
| Q1 25 | 44.2% | — | ||
| Q4 24 | 43.3% | — | ||
| Q3 24 | 43.4% | — | ||
| Q2 24 | 43.8% | — |
| Q2 26 | 15.3% | — | ||
| Q4 25 | 17.0% | — | ||
| Q3 25 | 18.3% | — | ||
| Q2 25 | 17.6% | — | ||
| Q1 25 | 15.0% | — | ||
| Q4 24 | 14.6% | — | ||
| Q3 24 | 26.1% | — | ||
| Q2 24 | 16.5% | — |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 11.3% | ||
| Q3 25 | 14.0% | 5.8% | ||
| Q2 25 | 13.0% | 11.1% | ||
| Q1 25 | 10.9% | 1.3% | ||
| Q4 24 | 11.8% | 19.1% | ||
| Q3 24 | 18.4% | -7.3% | ||
| Q2 24 | 12.3% | 8.2% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | $2.30 | ||
| Q3 25 | $2.05 | $0.95 | ||
| Q2 25 | $1.84 | $1.79 | ||
| Q1 25 | $1.41 | $0.21 | ||
| Q4 24 | $1.65 | $3.92 | ||
| Q3 24 | $2.58 | $-0.95 | ||
| Q2 24 | $1.71 | $1.49 |
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 | $4.4B |
| Total DebtLower is stronger | $8.5M | $3.9B |
| Stockholders' EquityBook value | $10.0M | $11.9B |
| Total Assets | $25.0M | $341.4B |
| Debt / EquityLower = less leverage | 0.85× | 0.33× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $4.4B | ||
| Q3 25 | $2.0B | $5.1B | ||
| Q2 25 | $1.9B | $3.7B | ||
| Q1 25 | $1.2B | $3.9B | ||
| Q4 24 | $1.3B | $4.2B | ||
| Q3 24 | $1.3B | $6.2B | ||
| Q2 24 | $384.0M | $4.8B |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $3.9B | ||
| Q3 25 | $8.1B | $3.9B | ||
| Q2 25 | $7.5B | $3.9B | ||
| Q1 25 | $7.0B | $4.3B | ||
| Q4 24 | $6.9B | $4.0B | ||
| Q3 24 | $7.0B | $3.9B | ||
| Q2 24 | $7.5B | $3.9B |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $11.9B | ||
| Q3 25 | $9.7B | $11.7B | ||
| Q2 25 | $9.3B | $11.4B | ||
| Q1 25 | $8.9B | $11.2B | ||
| Q4 24 | $8.8B | $11.1B | ||
| Q3 24 | $8.5B | $11.2B | ||
| Q2 24 | $8.3B | $11.0B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $341.4B | ||
| Q3 25 | $23.9B | $334.5B | ||
| Q2 25 | $23.7B | $323.1B | ||
| Q1 25 | $22.4B | $313.0B | ||
| Q4 24 | $22.4B | $313.7B | ||
| Q3 24 | $22.1B | $322.9B | ||
| Q2 24 | $21.5B | $308.8B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 0.33× | ||
| Q3 25 | 0.83× | 0.34× | ||
| Q2 25 | 0.81× | 0.34× | ||
| Q1 25 | 0.79× | 0.39× | ||
| Q4 24 | 0.79× | 0.36× | ||
| Q3 24 | 0.82× | 0.35× | ||
| Q2 24 | 0.91× | 0.36× |
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 | — | $1.7B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $791.3M | $1.0B | ||
| Q2 25 | $701.8M | $811.9M | ||
| Q1 25 | $369.4M | $977.3M | ||
| Q4 24 | $766.7M | $1.5B | ||
| Q3 24 | $786.7M | $1.1B | ||
| Q2 24 | $611.1M | $1.4B |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | — | ||
| Q3 25 | $529.7M | — | ||
| Q2 25 | $485.1M | — | ||
| Q1 25 | $131.5M | — | ||
| Q4 24 | $407.0M | — | ||
| Q3 24 | $550.3M | — | ||
| Q2 24 | $414.2M | — |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | — | ||
| Q3 25 | 12.7% | — | ||
| Q2 25 | 12.1% | — | ||
| Q1 25 | 3.6% | — | ||
| Q4 24 | 10.2% | — | ||
| Q3 24 | 13.8% | — | ||
| Q2 24 | 10.4% | — |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | — | ||
| Q3 25 | 6.3% | — | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 5.9% | — | ||
| Q2 24 | 4.9% | — |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 3.37× | ||
| Q3 25 | 1.35× | 4.70× | ||
| Q2 25 | 1.34× | 2.00× | ||
| Q1 25 | 0.92× | 20.32× | ||
| Q4 24 | 1.62× | 1.61× | ||
| Q3 24 | 1.07× | — | ||
| Q2 24 | 1.24× | 4.05× |
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% |
PFG
| Segment Retirement And Income Solutions | $1.6B | 36% |
| Segment Benefits And Protection | $1.1B | 23% |
| Other | $582.8M | 13% |
| Segment Principal Asset Management | $465.6M | 10% |
| Subsegment Investment Management | $449.4M | 10% |
| Administrative Service | $152.2M | 3% |
| Subsegment International Pension | $91.2M | 2% |
| Segment Corporate | $73.0M | 2% |
| Subsegment Life Insurance | $26.1M | 1% |
| Financial Service Other | $25.1M | 1% |
| Residential Mortgage | $7.4M | 0% |
| Subsegment Specialty Benefits | $3.7M | 0% |
| Deposit Account | $3.4M | 0% |
| Commission Income | $1.8M | 0% |
