Top 20 Global Chemical Companies by Revenue in 2025

Resonac Holdings announced its 2025 financial results. Full-year revenue totaled ¥1,347.1 billion (approximately USD 8.458 billion), down from ¥1,391.5 billion in the prior year. Full-year operating profit amounted to ¥46.7 billion, compared to ¥89.0 billion in the prior year. Net income attributable to owners of parent was ¥29.0 billion, down from ¥73.5 billion in the prior year. Yuntianhua released its 2025 annual report. The company’s full-year revenue stood at RMB 48.41 billion (approximately USD 7.09 billion), a 21.3% decline year-on-year; net income attributable to owners of parent was RMB 5.16 billion, down 3.3% year-on-year. In Q4 alone, revenue was RMB 10.82 billion, down 27.0% year-on-year; net income attributable to owners of parent was RMB 427 million, down 53.0% year-on-year. United States Dow Inc. announced its Q4 and full-year 2025 results. Q4 net sales were USD 9.46 billion, versus USD 10.405 billion in the prior-year period. Q4 net loss attributable to common shareholders was USD 1.543 billion, versus a net loss of USD 53 million in the prior-year period. Full-year net sales totaled USD 39.968 billion, down from USD 42.964 billion in the prior year. Full-year net loss attributable to common shareholders was USD 2.623 billion, versus net income of USD 1.116 billion in the prior year. Ecolab Inc. announced its Q4 and full-year 2025 results. Q4 net sales were USD 4.196 billion, up 5% year-on-year from USD 4.005 billion. Q4 operating profit was USD 712 million, up 22% year-on-year from USD 583 million. Q4 net income attributable to the company was USD 564 million, up 19% year-on-year from USD 473 million. Full-year net sales totaled USD 16.081 billion, up 2% year-on-year from USD 15.741 billion. Full-year operating profit was USD 2.738 billion, down 2% year-on-year from USD 2.802 billion. Full-year net income attributable to the company was USD 2.076 billion, down 2% year-on-year from USD 2.112 billion. Westlake Corporation announced its Q4 and full-year 2025 results. Q4 net sales were USD 2.533 billion, down from USD 2.843 billion in the prior-year period. Q4 net loss attributable to the company was USD 544 million, versus a net loss of USD 782 million in the prior-year period. Full-year net sales totaled USD 11.17 billion, down from USD 12.142 billion in the prior year. Full-year net loss attributable to the company was USD 1.508 billion, versus net income of USD 602 million in the prior year. International Flavors & Fragrances Inc. (IFF) announced its Q4 and full-year 2025 results. Q4 net sales were USD 2.589 billion, down 7% year-on-year from USD 2.771 billion. Q4 operating profit was USD 97 million, down 24% year-on-year from USD 127 million. Q4 net income attributable to shareholders was USD 18 million, versus a net loss of USD 60 million in the prior-year period. Full-year net sales totaled USD 10.89 billion, down 5% year-on-year from USD 11.184 billion. Full-year operating loss was USD 382 million, versus operating income of USD 766 million in the prior year.

KKR Exits After Generating CNY 30 Billion in Net Profit Over Three Years

KKR (including co-investors) achieved a paper return of over 17x over three years. A textbook-perfect exit. Recently, Ecolab Inc.—a global leader in water treatment and sustainable development solutions—announced it will formally acquire CoolIT Systems, a developer of data center liquid cooling systems, for approximately USD 4.75 billion in cash (roughly RMB 32.8 billion). CoolIT Systems is currently majority-owned by funds managed by KKR. In May 2023, KKR led (together with co-investors) the acquisition of a majority stake in CoolIT Systems for approximately USD 270 million. The transaction is expected to close in Q3 2026. An expensive acquisition Valuation far exceeding traditional industrial sectors According to the terms of the deal, the valuation is notably 'expensive'. Reportedly, the USD 4.75 billion purchase price represents 29x CoolIT’s projected adjusted EBITDA for the next 12 months—and 24x its projected adjusted EBITDA for fiscal year 2027. This valuation level significantly exceeds typical multiples seen in traditional industrial M&A. Clearly, this elevated valuation directly reflects the extraordinary fervor surrounding the AI infrastructure sector: as global tech giants race to build data centers amid intensifying competition for computing power, thermal management technology has become a critical physical bottleneck constraining AI advancement. According to Ecolab’s disclosures, CoolIT is projected to generate approximately USD 550 million in sales over the next 12 months, with an adjusted EBITDA margin of roughly 30%. This implies Ecolab is paying more than 8.6x sales for a company generating approximately USD 550 million in annual revenue. For comparison, Ecolab’s own market capitalization stands at approximately USD 77.7 billion, with 2025 revenue of about USD 16.08 billion—implying a price-to-sales ratio of only ~4.8x. Upon completion, Ecolab’s addressable market (TAM) will double—from USD 5 billion to USD 10 billion—with the market growing at double-digit annual rates. Ecolab expects the acquisition to lift organic sales growth for its global water business by two percentage points in the first year post-closing, and boost overall organic sales growth by one percentage point. Starting in 2028 (excluding non-cash amortization expenses), the transaction is expected to accrete to adjusted earnings per share. To finance the acquisition, Ecolab will raise new transaction debt. From gaming enthusiast to liquid-cooling leader Public records indicate CoolIT Systems was founded in 2001 and is headquartered in Calgary, Canada. Its three founders—Brydon Gierl, Sandy Scott, and Jason Myers—conceived the idea of revolutionizing computer cooling amid Calgary’s vibrant startup ecosystem. According to company history, Sandy was an avid gamer whose PC graphics card overheated severely, degrading his gaming experience. He approached Brydon for help, and the two began early experiments on a kitchen table to solve this pain point affecting high-performance computing users. This 'basement R&D' phase lasted approximately three years. They experimented with various methods of pumping coolant and developed numerous early prototypes of computer liquid cooling systems.

Ecolab Stock Trades at USD 280.93 with USD 79.1 Billion Market Value

1 day ago

Ecolab Inc. shares traded at USD 280.93, reflecting a USD 79.1 billion market value. UBS raised its price target to USD 344 with a Buy rating ahead of the Q3 2026 earnings report.

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