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A Wide-Moat Upgrade for Ecolab

Switching costs strengthen the cleaning and sanitation firm's moat.


Seth Goldstein: We've recently upgraded Ecolab to a wide moat rating from narrow as we think the company's switching-cost moat source has strengthened.

Ecolab is the largest supplier of cleaning and sanitation products in the world. The company's razor-and-blade business model creates customer switching costs as Ecolab's cleaning equipment requires customers to purchase the firm's proprietary consumables.

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Seth Goldstein does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.