Eaton
ETN NYSE· Electrical Components & Equipment
Last close · Oct 26, 2026
$371.92
KIRA · Stoqly’s AI analyst, in plain words
- Eaton had $27.4B of revenue in fiscal 2025, up 10.3% on the year before. Over five years, revenue changed +9.0% a year on average.
- Eaton made $4.1B of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 10.7% a year.
- Free cash flow was $3.6B in fiscal 2025, 12.9% of revenue.
- Eaton returned $3.5B to shareholders in fiscal 2025, 98% of free cash flow. The diluted share count fell 2.1%.
- Eaton owes $9.1B more than it holds in cash, about 1.5 years of operating profit.
Market cap
$144.9B
P/E
37.8x
Revenue
$27.4B
Net income
$4.1B
Free cash flow
$3.6B
Operating margin
—
Eaton in 30 seconds · fiscal 2025
Are sales growing?
+10.3%
Yes. Sales grew 10.3% last year.
Does it make a profit?
14.9%
Yes. It keeps 14.9% of every sale as profit.
Does profit turn into cash?
12.9%
Yes. 12.9% of sales ends up as free cash.
Is debt under control?
1.5x
Keep an eye on it. Repaying its debt would take 1.5 years of operating profit.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
37.8x
One share costs 37.8 times its yearly profit per share. Typical for its sector: 26.0x.
What Eaton does
Eaton is a power management company. It makes electrical equipment and systems for data centers, utilities, industrial and commercial buildings, machine builders, homes, aircraft and vehicles. Founded in 1911, it serves customers in 180 countries and had revenues of $27.4 billion in 2025. Its business has several segments. Electrical Americas and Electrical Global help customers manage power from the grid to homes, buildings, data centers and industrial sites. Aerospace supplies technology for aircraft. Vehicle and eMobility supply the transport market, and in early 2026 Eaton combined them into one segment called Mobility. In 2025, 22% of the Electrical segments' sales went to six large customers. Eaton has grown by buying companies. In 2025 it bought Fibrebond and Resilient Power Systems, and it agreed to buy Boyd Thermal. In January 2026 it completed the purchase of Ultra PCS.
Biggest risks, in its own words
- Problems with buying and joining other companies, including integrating the ones it has bought.
- Production disruptions at its factories around the world.
- Inflation or shortages of raw materials, energy, parts or labor.
- Swings in the end markets it serves.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- EATON CORPORATION plc
- CIK
- 0001551182
Eaton · ETN
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $19.6B | $20.8B | $23.2B | $24.9B | $27.4B |
| Revenue growth | 9.9% | 5.7% | 11.8% | 7.3% | 10.3% |
| Gross margin | 32.3% | 33.2% | 36.4% | 38.2% | 37.6% |
| Net income | $2.1B | $2.5B | $3.2B | $3.8B | $4.1B |
| Net margin | 10.9% | 11.9% | 13.9% | 15.3% | 14.9% |
| Diluted EPS | $5.34 | $6.14 | $8.02 | $9.50 | $10.45 |
| Cash | |||||
| Cash from operations | $2.2B | $2.5B | $3.6B | $4.3B | $4.5B |
| Capital expenditure | $575M | $598M | $757M | $808M | $919M |
| Free cash flow | $1.6B | $1.9B | $2.9B | $3.5B | $3.6B |
| FCF margin | 8.1% | 9.3% | 12.4% | 14.2% | 12.9% |
| Dividends paid | $1.2B | $1.3B | $1.4B | $1.5B | $1.6B |
| Share buybacks | $122M | $286M | $0.0M | $2.5B | $1.9B |
| Share count change | −0.6% | −0.2% | 0.1% | −0.4% | −2.1% |
| Debt and strength | |||||
| Cash and short-term investments | $568M | $555M | $2.6B | $2.1B | $803M |
| Debt incl. finance leases | $8.6B | $8.7B | $9.3B | $9.2B | $9.9B |
| Shareholders' equity | $16.4B | $17.0B | $19.0B | $18.5B | $19.4B |
| Net debt / EBITDA | 2.0x | 2.0x | 1.4x | 1.3x | 1.5x |
| Current ratio | 1.0x | 1.4x | 1.5x | 1.5x | 1.3x |
| Interest coverage | 21.1x | 12.6x | 26.3x | 36.1x | 21.5x |
| Returns and quality | |||||
| Return on capital | 9.7% | 10.8% | 13.2% | 15.2% | 15.8% |
| Return on equity | 13.7% | 14.7% | 17.8% | 20.2% | 21.6% |
| Piotroski F-score | 7 | 8 | 7 | 7 | 6 |
| Altman Z'' | 2.4 | 2.8 | 3.3 | 3.3 | 3.1 |
Insiders bought, 12 months
$0.6M
1 insider
Insiders sold, 12 months
$22.6M
7 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Eaton · ETN
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Eaton ETN | $144.9B | 10.3% | — | 12.9% | 15.8% | 37.8x | 6 |
| Emerson Electric EMR | $90.7B | 3.0% | — | 14.8% | 7.6% | 35.4x | 6 |
| Vertiv VRT | $78.5B | 27.7% | 17.9% | 18.5% | 30.2% | 45.2x | 6 |
| Rockwell Automation ROK | $48.0B | 0.9% | 20.4% | 16.3% | 20.9% | 40.3x | 8 |
| Ametek AME | $55.8B | 6.6% | 25.8% | 22.6% | 13.2% | 35.5x | 7 |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $371.92 a share, the company is worth $144.9B: 37.8 times its earnings of the last four quarters.
Eaton grew sales faster than 3 of its 4 similar companies. Its P/E is higher than 2 of 4.
Source: SEC EDGAR XBRL filings (CIK 0001551182). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.