Direct Answer
Ecolab reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Water Services is the largest, with $7.7 billion of revenue (48% of the total), followed by Global Institutional at $6.0 billion (37%).
How Does Ecolab Make Money?
No single line supplies a majority of revenue: the largest, Water Services, is 48%, which spreads Ecolab's exposure across several demand drivers. Between fiscal 2024 and 2025, Global Healthcare and Life Sciences grew fastest (+11.5%) and Global Institutional slowest (-2.3%), so the revenue mix tilts toward Global Healthcare and Life Sciences while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Water Services | $7.7 billion | $7.5 billion | 47.8% | 2.6% |
| Global Institutional | $6.0 billion | $6.1 billion | 37.1% | -2.3% |
| Global Pest Elimination | $1.2 billion | $1.2 billion | 7.6% | 4.9% |
| Global Healthcare and Life Sciences | $748 million | $671 million | 4.7% | 11.5% |
Which Ecolab Segments Earn the Most?
| Segment | FY2025 segment operating income | Segment margin |
|---|---|---|
| Water Services | $1.3 billion | 16.5% |
| Global Institutional | $1.4 billion | 22.8% |
| Global Pest Elimination | $237 million | 19.4% |
| Global Healthcare and Life Sciences | $121 million | 16.1% |
Segment operating income is the profit measure Ecolab reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Ecolab more safely than against another company.
What Does Ecolab Sell?
Ecolab also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Product and Equipment | $12.6 billion | $12.5 billion | 78.5% | 1.2% |
| Service and Lease | $3.5 billion | $3.3 billion | 21.5% | 6.0% |
What the Segment Figures Do Not Show
The rows above add up to 97% of Ecolab's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Ecolab reported in the segment note and revenue disclosures of its Form 10-K filed February 23, 2026 (accession 0001104659-26-018357), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Ecolab's business segments?
In its fiscal 2025 Form 10-K, Ecolab reports revenue for Water Services, Global Institutional, Global Pest Elimination and Global Healthcare and Life Sciences.
Which part of Ecolab brings in the most revenue?
Water Services, with $7.7 billion of revenue in fiscal 2025, or 48% of the total.
Where does Ecolab report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 23, 2026, alongside management's discussion of each segment's results.