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Side-by-side financial comparison of Ecolab (ECL) and Vistra Corp. (VST). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $4.1B, roughly 1.2× Ecolab). Ecolab runs the higher net margin — 10.6% vs 4.8%, a 5.8% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 10.0%). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
ECL vs VST — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $4.8B |
| Net Profit | $432.6M | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 15.3% | 9.9% |
| Net Margin | 10.6% | 4.8% |
| Revenue YoY | 10.0% | 31.2% |
| Net Profit YoY | 1.3% | -47.2% |
| EPS (diluted) | $1.52 | $0.55 |
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 | $4.8B | ||
| Q3 25 | $4.2B | $4.8B | ||
| Q2 25 | $4.0B | $3.8B | ||
| Q1 25 | $3.7B | $4.3B | ||
| Q4 24 | $4.0B | $3.7B | ||
| Q3 24 | $4.0B | $4.3B | ||
| Q2 24 | $4.0B | $3.6B |
| Q2 26 | $432.6M | — | ||
| Q4 25 | $563.9M | $233.0M | ||
| Q3 25 | $585.0M | $652.0M | ||
| Q2 25 | $524.2M | $327.0M | ||
| Q1 25 | $402.5M | $-268.0M | ||
| Q4 24 | $472.9M | $441.0M | ||
| Q3 24 | $736.5M | $1.9B | ||
| Q2 24 | $490.9M | $365.0M |
| 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% | 9.9% | ||
| Q3 25 | 18.3% | 21.7% | ||
| Q2 25 | 17.6% | 13.7% | ||
| Q1 25 | 15.0% | -2.8% | ||
| Q4 24 | 14.6% | 16.4% | ||
| Q3 24 | 26.1% | 59.6% | ||
| Q2 24 | 16.5% | 22.5% |
| Q2 26 | 10.6% | — | ||
| Q4 25 | 13.4% | 4.8% | ||
| Q3 25 | 14.0% | 13.6% | ||
| Q2 25 | 13.0% | 8.7% | ||
| Q1 25 | 10.9% | -6.3% | ||
| Q4 24 | 11.8% | 12.0% | ||
| Q3 24 | 18.4% | 43.5% | ||
| Q2 24 | 12.3% | 10.1% |
| Q2 26 | $1.52 | — | ||
| Q4 25 | $1.98 | $0.55 | ||
| Q3 25 | $2.05 | $1.75 | ||
| Q2 25 | $1.84 | $0.81 | ||
| Q1 25 | $1.41 | $-0.93 | ||
| Q4 24 | $1.65 | $1.09 | ||
| Q3 24 | $2.58 | $5.25 | ||
| Q2 24 | $1.71 | $0.90 |
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 | $785.0M |
| Total DebtLower is stronger | $8.5M | $15.8B |
| Stockholders' EquityBook value | $10.0M | $5.1B |
| Total Assets | $25.0M | $41.5B |
| Debt / EquityLower = less leverage | 0.85× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $519.8K | — | ||
| Q4 25 | $646.2M | $785.0M | ||
| Q3 25 | $2.0B | $602.0M | ||
| Q2 25 | $1.9B | $458.0M | ||
| Q1 25 | $1.2B | $561.0M | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.3B | $905.0M | ||
| Q2 24 | $384.0M | $1.6B |
| Q2 26 | $8.5M | — | ||
| Q4 25 | $7.4B | $15.8B | ||
| Q3 25 | $8.1B | $15.8B | ||
| Q2 25 | $7.5B | $15.5B | ||
| Q1 25 | $7.0B | $15.4B | ||
| Q4 24 | $6.9B | $15.4B | ||
| Q3 24 | $7.0B | $13.9B | ||
| Q2 24 | $7.5B | $13.9B |
| Q2 26 | $10.0M | — | ||
| Q4 25 | $9.8B | $5.1B | ||
| Q3 25 | $9.7B | $5.2B | ||
| Q2 25 | $9.3B | $4.8B | ||
| Q1 25 | $8.9B | $4.8B | ||
| Q4 24 | $8.8B | $5.6B | ||
| Q3 24 | $8.5B | $5.4B | ||
| Q2 24 | $8.3B | $5.6B |
| Q2 26 | $25.0M | — | ||
| Q4 25 | $24.7B | $41.5B | ||
| Q3 25 | $23.9B | $38.0B | ||
| Q2 25 | $23.7B | $38.1B | ||
| Q1 25 | $22.4B | $38.2B | ||
| Q4 24 | $22.4B | $37.8B | ||
| Q3 24 | $22.1B | $37.9B | ||
| Q2 24 | $21.5B | $39.1B |
| Q2 26 | 0.85× | — | ||
| Q4 25 | 0.75× | 3.11× | ||
| Q3 25 | 0.83× | 3.02× | ||
| Q2 25 | 0.81× | 3.22× | ||
| Q1 25 | 0.79× | 3.20× | ||
| Q4 24 | 0.79× | 2.77× | ||
| Q3 24 | 0.82× | 2.56× | ||
| Q2 24 | 0.91× | 2.49× |
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 | — | $1.4B |
| Free Cash FlowOCF − Capex | — | $596.0M |
| FCF MarginFCF / Revenue | — | 12.4% |
| Capex IntensityCapex / Revenue | — | 17.4% |
| Cash ConversionOCF / Net Profit | — | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $791.3M | $1.5B | ||
| Q2 25 | $701.8M | $572.0M | ||
| Q1 25 | $369.4M | $599.0M | ||
| Q4 24 | $766.7M | $1.4B | ||
| Q3 24 | $786.7M | $1.7B | ||
| Q2 24 | $611.1M | $1.2B |
| Q2 26 | — | — | ||
| Q4 25 | $758.0M | $596.0M | ||
| Q3 25 | $529.7M | $1.0B | ||
| Q2 25 | $485.1M | $-118.0M | ||
| Q1 25 | $131.5M | $-169.0M | ||
| Q4 24 | $407.0M | $923.0M | ||
| Q3 24 | $550.3M | $1.0B | ||
| Q2 24 | $414.2M | $698.0M |
| Q2 26 | — | — | ||
| Q4 25 | 18.1% | 12.4% | ||
| Q3 25 | 12.7% | 21.1% | ||
| Q2 25 | 12.1% | -3.1% | ||
| Q1 25 | 3.6% | -4.0% | ||
| Q4 24 | 10.2% | 25.2% | ||
| Q3 24 | 13.8% | 23.4% | ||
| Q2 24 | 10.4% | 19.4% |
| Q2 26 | — | — | ||
| Q4 25 | 7.9% | 17.4% | ||
| Q3 25 | 6.3% | 9.6% | ||
| Q2 25 | 5.4% | 18.4% | ||
| Q1 25 | 6.4% | 18.1% | ||
| Q4 24 | 9.0% | 11.7% | ||
| Q3 24 | 5.9% | 15.8% | ||
| Q2 24 | 4.9% | 13.8% |
| Q2 26 | — | — | ||
| Q4 25 | 1.93× | 6.15× | ||
| Q3 25 | 1.35× | 2.25× | ||
| Q2 25 | 1.34× | 1.75× | ||
| Q1 25 | 0.92× | — | ||
| Q4 24 | 1.62× | 3.07× | ||
| Q3 24 | 1.07× | 0.90× | ||
| Q2 24 | 1.24× | 3.28× |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
