Eaton Corporation plc (ETN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$3.08	$3.15	+2.3%	—	—	—
Q4 26	$2.73	$2.81	+2.9%	—	—	—
Q3 26	$3.32	$3.33	+0.3%	—	—	—
Q2 26	$3.05	$3.07	+0.7%	—	—	—
Q1 26	$2.92	$2.95	+1.0%	—	—	—
Q4 25	$2.71	$2.72	+0.4%	—	—	—
Q3 25	$2.81	$2.83	+0.7%	—	—	—
Q2 25	$2.81	$2.84	+1.1%	—	—	—
Q1 25	$2.61	$2.73	+4.6%	—	—	—
Q4 24	$2.29	$2.4	+4.8%	—	—	—
Q3 24	$2.47	$2.55	+3.2%	—	—	—
Q2 24	$2.34	$2.47	+5.6%	—	—	—
Q1 24	$2.11	$2.21	+4.7%	—	—	—
Q4 23	$1.78	$1.88	+5.6%	—	—	—
Q3 23	$2.05	$2.06	+0.5%	—	—	—
Q2 23	$2.01	$2.02	+0.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$10.5	—	—	$27.4B	—
FY24	—	$9.54	—	—	$24.9B	—
FY23	—	$8.06	—	—	$23.2B	—
FY22	—	$6.17	—	—	$20.8B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$19.7B	$20.4B	$21.6B	$21.4B	$17.9B	$19.6B	$20.8B	$23.2B	$24.9B	$27.4B
YoY change	-5.31%	+3.33%	+5.91%	-1.01%	-16.5%	+9.91%	+5.73%	+11.8%	+7.25%	+10.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	19.7B	20.4B	21.6B	21.4B	17.9B	19.6B	20.8B	23.2B	24.9B	27.4B
Cost of revenue	13.4B	13.8B	14.5B	14.3B	12.4B	13.3B	13.9B	14.8B	15.4B	17.1B
Gross profit	6.4B	6.6B	7.1B	7.1B	5.5B	6.3B	6.9B	8.4B	9.5B	10.3B
Gross margin	32.2%	32.6%	32.8%	33%	30.5%	32.3%	33.2%	36.4%	38.2%	37.6%
Research & development	587M	584M	584M	606M	551M	616M	665M	754M	794M	797M
Selling, general & administrative	3.5B	3.5B	3.5B	3.6B	3.1B	3.3B	3.2B	3.8B	4.1B	4.3B
Operating expenses	4.1B	4.1B	4.1B	4.2B	3.6B	3.9B	3.9B	4.5B	4.9B	5.1B
Operating income	2.3B	2.5B	3B	2.9B	1.8B	2.5B	3B	3.9B	4.6B	5.2B
Operating margin	11.6%	12.4%	13.7%	13.4%	10.2%	12.5%	14.4%	16.7%	18.6%	19%
Non-operating income, net	51M	1.1B	-284M	-73M	71M	577M	60M	93M	64M	-37M
Pretax income	2.1B	3.4B	2.4B	2.6B	1.7B	2.9B	2.9B	3.8B	4.6B	4.9B
Income tax	199M	382M	278M	378M	331M	750M	445M	604M	768M	841M
Net income	1.9B	3B	2.1B	2.2B	1.4B	2.1B	2.5B	3.2B	3.8B	4.1B
Net margin	9.72%	14.6%	9.93%	10.3%	7.92%	10.9%	11.9%	13.9%	15.3%	14.9%
EBITDA	3.3B	3.5B	3.9B	3.7B	2.5B	3.3B	4B	4.9B	5.6B	6.2B
EPS	4.22	6.71	4.93	5.28	3.51	5.38	6.17	8.06	9.54	10.5
Diluted EPS	4.21	6.68	4.91	5.25	3.49	5.34	6.14	8.02	9.5	10.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5.9B	6B	5.9B	6.3B	6.3B	6.2B	6.4B	7B	7B	7.1B	7.5B	8.5B
Cost of revenue	3.7B	3.7B	3.7B	3.9B	3.9B	3.8B	3.9B	4.4B	4.3B	4.5B	4.8B	5.7B
Gross profit	2.2B	2.2B	2.2B	2.4B	2.4B	2.4B	2.4B	2.6B	2.7B	2.6B	2.7B	2.9B
Gross margin	37.3%	37.5%	37.3%	38%	38.6%	38.9%	38.4%	37%	38.3%	36.8%	35.6%	33.5%
Research & development	187M	201M	189M	196M	207M	201M	198M	192M	203M	203M	211M	227M
Selling, general & administrative	949M	956M	1B	1B	1B	1B	1B	1.1B	1.1B	1B	1.3B	1.2B
Operating expenses	1.1B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	1.3B	1.2B	1.5B	1.5B
Operating income	1.1B	1.1B	1B	1.2B	1.2B	1.2B	1.2B	1.3B	1.4B	1.4B	1.2B	1.4B
Operating margin	18%	18.1%	16.9%	18.8%	19.1%	19.6%	18.8%	17.9%	19.6%	19.6%	15.7%	16.3%
Non-operating income, net	52M	37M	26M	32M	22M	-16M	9M	1M	-25M	-22M	41M	-47M
Pretax income	1.1B	1.1B	1B	1.2B	1.2B	1.2B	1.2B	1.2B	1.3B	1.3B	1.1B	1.1B
Income tax	187M	141M	179M	201M	193M	195M	212M	203M	264M	161M	240M	321M
Net income	892M	946M	822M	994M	1B	971M	965M	982M	1B	1.1B	868M	823M
Net margin	15.2%	15.9%	13.8%	15.7%	15.9%	15.6%	15.1%	14%	14.5%	16%	11.6%	9.65%
EBITDA	1.3B	1.3B	1.3B	1.5B	1.5B	1.4B	1.4B	1.5B	1.6B	1.6B	1.5B	1.7B
EPS	2.23	2.37	2.05	2.49	2.54	2.46	2.46	2.52	2.6	2.92	2.23	2.11
Diluted EPS	2.22	2.35	2.04	2.48	2.53	2.45	2.45	2.51	2.59	2.91	2.22	2.11

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	30.5B	35.1B	29.8B	39.7B	48.3B	68.9B	62.6B	96.1B	132B	124.2B	167.5B
Enterprise value	38.1B	41.8B	36.9B	47.7B	55.6B	77.3B	71.1B	103.3B	139.7B	133.9B	191.6B
Shares outstanding	455M	444.5M	434.3M	419M	402.2M	398.7M	398.7M	399.1M	397.6M	389.9M	389.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	15.9	11.8	13.9	17.9	34.1	32.1	25.4	29.8	34.7	30.4	44
P/S	1.55	1.72	1.38	1.86	2.71	3.51	3.02	4.14	5.3	4.52	5.58
P/B	2.04	2.03	1.85	2.46	3.23	4.19	3.66	5.04	7.12	6.38	8.27
EV/EBITDA	11.6	12.1	9.56	13	22.4	23.1	17.9	21.1	24.9	21.7	28.9
EV/Sales	1.93	2.05	1.71	2.23	3.11	3.94	3.43	4.45	5.62	4.88	6.38
Earnings yield	6.29%	8.5%	7.2%	5.58%	2.93%	3.11%	3.94%	3.35%	2.88%	3.29%	2.27%
FCF yield	6.79%	6.11%	7.02%	7.22%	5.29%	2.3%	3.09%	2.98%	2.67%	2.86%	1.85%
PEG	—	—	—	—	—	—	—	—	—	—	-2.7

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	32.2%	32.6%	32.8%	33%	30.5%	32.3%	33.2%	36.4%	38.2%	37.6%	33.5%
Operating margin	11.6%	12.4%	13.7%	13.4%	10.2%	12.5%	14.4%	16.7%	18.6%	19%	16.6%
Net margin	9.72%	14.6%	9.93%	10.3%	7.92%	10.9%	11.9%	13.9%	15.3%	14.9%	12.8%
ROE	12.8%	17.3%	13.3%	13.7%	9.45%	13%	14.4%	16.9%	20.5%	21%	19.7%
ROA	6.3%	9.15%	6.9%	6.75%	4.45%	6.31%	7.04%	8.39%	9.9%	9.92%	7.05%
ROIC	9.25%	9.4%	11.3%	10.1%	6.64%	7.36%	9.9%	12.5%	14.7%	14.8%	10.3%
Return on tangible assets	-27.6%	-59.2%	-40.8%	-65.4%	-60.7%	-29.9%	-44.4%	-188.9%	-1.1K%	-1K%	-40.4%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.28	1.64	1.47	1.7	1.56	1.04	1.38	1.51	1.5	1.32	1.24
Quick ratio	0.85	1.13	0.93	1.15	1.2	0.63	0.84	1.02	0.96	0.81	0.79
Debt / equity	0.55	0.45	0.47	0.54	0.56	0.54	0.53	0.51	0.53	0.54	1.05
Debt / assets	0.27	0.24	0.24	0.26	0.26	0.26	0.26	0.26	0.26	0.26	0.38
Net debt / EBITDA	2.3	1.93	1.83	2.19	2.93	2.5	2.15	1.47	1.38	1.57	3.2
Interest coverage	10.1	14.7	10.4	14	12.7	21.1	21.2	26.3	36.1	21.5	11.9
Effective tax rate	9.4%	11.3%	11.5%	14.6%	19%	25.9%	15.3%	15.8%	16.8%	17.1%	20.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	43.4	45.9	49.8	51.1	44.4	49.2	52	58.1	62.6	70.4	77.3
EPS (basic)	4.22	6.71	4.93	5.28	3.51	5.38	6.17	8.06	9.54	10.5	10.5
EPS (diluted)	4.21	6.68	4.91	5.25	3.49	5.34	6.14	8.02	9.5	10.4	9.81
Book value per share	33	38.9	37.2	38.5	37.2	41.3	42.8	47.8	46.6	49.9	52.1
FCF per share	4.56	4.83	4.82	6.84	6.35	3.98	4.85	7.18	8.85	9.11	10.1
Cash per share	1.64	2.46	1.01	1.41	2.74	1.42	1.39	6.54	5.23	2.06	1.79
Capex per share	—	—	—	—	—	0.11	0.41	0.19	0.21	2.36	2.61

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	0.22%	0.79%	0.33%	0.34%	3.35%	3.38%
Capex / operating cash flow	—	—	—	—	—	1.65%	6.17%	2.03%	1.99%	20.6%	20.5%
Payout ratio	54%	35.8%	53.5%	54.3%	83%	56.8%	52.7%	42.8%	39.5%	39.8%	43.6%
Dividend yield	3.4%	3.04%	3.85%	3.03%	2.43%	1.77%	2.08%	1.43%	1.14%	1.31%	1.02%

Yield

1.02%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.10

ex-dividend Aug 7, 2026

Payout ratio

44%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 7, 2026	$1.10
May 8, 2026	$1.10
Mar 10, 2026	$1.10

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5.9B	$6B	$5.9B	$6.3B	$6.3B	$6.2B	$6.4B	$7B	$7B	$7.1B	$7.5B	$8.5B
YoY change	+10.7%	+10.8%	+8.39%	+8.25%	+7.91%	+4.58%	+7.3%	+10.7%	+10.1%	+13.1%	+16.8%	+21.4%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	746M	1.1B	440M	591M	1.1B	568M	555M	2.6B	2.1B	803M
Receivables	3.6B	3.9B	3.9B	3.4B	2.9B	3.3B	4.1B	4.5B	4.6B	5.4B
Inventory	2.3B	2.6B	2.8B	2.8B	2.1B	3B	3.4B	3.7B	4.2B	4.7B
Total current assets	7B	8.3B	7.6B	8.7B	9.2B	7.5B	8.7B	11.7B	11.8B	12.4B
Property, plant & equipment	3.4B	3.5B	3.5B	3.9B	3.4B	3.5B	3.7B	4.2B	4.5B	5.1B
Goodwill & intangibles	37.4B	37.7B	36.3B	36.2B	34.2B	41.2B	40.6B	40.1B	38.7B	41.6B
Total assets	30.5B	32.6B	31.1B	32.8B	31.8B	34B	35B	38.4B	38.4B	41.3B
Accounts payable	1.7B	2.2B	2.1B	2.1B	2B	2.8B	3.1B	3.4B	3.7B	4.2B
Short-term debt	1.6B	584M	753M	503M	1B	1.7B	334M	1B	674M	1.1B
Total current liabilities	5.5B	5.1B	5.2B	5.1B	5.9B	7.2B	6.4B	7.7B	7.9B	9.4B
Long-term debt	6.7B	7.2B	6.8B	8.2B	7.3B	7.2B	8.8B	8.8B	9.1B	9.4B
Total liabilities	15.5B	15.3B	14.9B	16.7B	16.9B	17.6B	17.9B	19.4B	19.9B	21.8B
Shareholders' equity	15B	17.3B	16.1B	16.1B	15B	16.5B	17.1B	19.1B	18.5B	19.5B
Total debt	8.3B	7.8B	7.5B	8.7B	8.4B	8.9B	9.1B	9.8B	9.8B	10.5B
Net debt	7.7B	7.2B	7.2B	8.3B	7.9B	8.6B	8.8B	9.3B	9.3B	9.9B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.9B	2.6B	2.4B	2.8B	2B	2.1B	1.9B	584M	565M	803M	751M	695M
Receivables	4.5B	4.5B	4.7B	4.9B	4.9B	4.6B	5.1B	5.5B	5.6B	5.4B	6.4B	6.7B
Inventory	3.7B	3.7B	3.9B	4B	4.2B	4.2B	4.4B	4.6B	4.6B	4.7B	5.1B	5.4B
Total current assets	11B	11.7B	11.9B	12.7B	12.2B	11.8B	12.4B	11.9B	12.1B	12.4B	14B	14.8B
Property, plant & equipment	3.9B	4.2B	4.3B	4.4B	4.5B	4.5B	4.6B	4.7B	4.8B	5.1B	5.4B	5.6B
Goodwill & intangibles	39.9B	40.1B	39.7B	39.5B	39.7B	38.7B	38.9B	42B	41.9B	41.6B	65.3B	65.7B
Total assets	37.3B	38.4B	38.5B	39.4B	39.2B	38.4B	39.2B	40.5B	40.6B	41.3B	55.1B	56.2B
Accounts payable	3.3B	3.4B	3.4B	3.5B	3.6B	3.7B	3.7B	3.8B	3.8B	4.2B	4.9B	5.4B
Short-term debt	999M	1B	995M	1.3B	717M	674M	2.5B	2.2B	1.9B	1.1B	2.6B	2.1B
Total current liabilities	7.6B	7.7B	7.6B	8.1B	7.9B	7.9B	9.5B	9.6B	9.5B	9.4B	11.7B	11.9B
Long-term debt	8.6B	8.8B	8.8B	9.2B	9.4B	9.1B	8.3B	9.3B	9.3B	9.4B	19.2B	19.2B
Total liabilities	18.9B	19.4B	19.2B	20.1B	20.1B	19.9B	20.7B	21.9B	21.8B	21.8B	35.3B	35.9B
Shareholders' equity	18.4B	19.1B	19.3B	19.3B	19.2B	18.5B	18.5B	18.6B	18.9B	19.5B	19.8B	20.3B
Total debt	9.6B	9.8B	9.8B	10.5B	10.1B	9.8B	10.7B	11.6B	11.2B	10.5B	21.8B	21.3B
Net debt	9.3B	9.3B	9.3B	10B	9.6B	9.3B	9B	11.2B	10.9B	9.9B	21.3B	20.8B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.9B	3B	2.1B	2.2B	1.4B	2.1B	2.5B	3.2B	3.8B	4.1B
Depreciation & amortization	929M	914M	903M	884M	811M	922M	954M	926M	921M	1B
Stock-based compensation	—	—	—	—	—	—	—	—	—	—
Change in working capital	-151M	-191M	-341M	243M	635M	-309M	-688M	-149M	-240M	-668M
Operating cash flow	2.6B	3.8B	2.6B	3.4B	3B	2.7B	2.6B	3.7B	4.3B	4.5B
Capital expenditure	—	—	—	—	—	44M	163M	76M	85M	-919M
Investing cash flow	8M	601M	-78M	-1.3B	1.1B	-1.5B	-536M	-49M	-35M	-2.5B
Dividends paid	-1B	-1.1B	-1.1B	-1.2B	-1.2B	-1.2B	-1.3B	-1.4B	-1.5B	-1.6B
Share repurchases	-730M	-850M	-1.3B	-1B	-1.6B	-122M	-286M	0	-2.5B	-1.9B
Financing cash flow	-1.8B	-2.5B	-2.6B	-1.6B	-3.3B	-598M	-1.4B	-949M	-4B	-3.2B
Net change in cash	823M	1.9B	-38M	539M	774M	531M	739M	2.7B	242M	-1.3B
Free cash flow	2.1B	2.1B	2.1B	2.9B	2.6B	1.6B	1.9B	2.9B	3.5B	3.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	—	—	—	—	—	—	1B	1.1B	868M	822M
Depreciation & amortization	—	—	—	—	—	—	—	—	258M	255M	272M	399M
Stock-based compensation	—	—	—	—	—	—	—	—	—	—	—	—
Change in working capital	—	—	—	—	—	—	—	—	—	—	—	—
Operating cash flow	—	—	—	—	—	—	—	—	1.4B	2B	507M	1.1B
Capital expenditure	—	—	—	—	—	—	—	—	-178M	-392M	-193M	-253M
Investing cash flow	—	—	—	—	—	—	—	—	-293M	-413M	-11.4B	-305M
Dividends paid	—	—	—	—	—	—	—	—	-404M	-404M	-415M	-443M
Share repurchases	—	—	—	—	—	—	—	—	-362M	-193M	0	0
Financing cash flow	—	—	—	—	—	—	—	—	-1.1B	-1.4B	10.8B	-947M
Net change in cash	—	—	—	—	—	—	—	—	-65M	189M	-103M	-125M
Free cash flow	913M	1.1B	292M	759M	1.1B	1.3B	91M	716M	1.2B	1.6B	314M	874M

Date	Ratio
Mar 1, 2011	2:1
Feb 24, 2004	2:1
Jan 2, 2001	10000:8677
Jun 29, 1993	2:1
Sep 20, 1988	3:2
Oct 3, 1979	3:2

Eaton Corporation plc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history