Eaton Corporation, PLC

ETN Industrials Specialty Industrial Machinery

Eaton Corporation, PLC’s revenue for fiscal 2025 (year ended December 2025) was $27.4 billion, up 10.3% from fiscal 2024. In the quarter to June 2026, revenue grew 21.4%, EPS fell 16.3%, free cash flow grew 21.5% and total debt rose 87.4%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three; insiders bought in the last twelve months.

391.25 11.23 −2.79%
Market cap
$156.3B
P/E
39.7×
Fwd P/E
34.3×
Dividend yield
1.11%
F-score
7/9
Altman Z
4.95
Beneish M
−2.37
Dividend safety
86/100

Insider Decisions trades per month

Total buys 0.55
Total sells 22.59
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — 1 — — 1 — —
Sell — — — 1 1 — 4 — — 2 — —
Insider Ownership 0.22%

Capital & Financial Ratios $m

Market Cap 156,320.00
Revenue 30,025.00
Net Income 3,833.00
Free Cash Flow 4,000.00
Net Debt 17,825.00
Current Ratio 1.24
Debt/Equity 0.91
P/E ratio 39.68 (above 35: high)
Fwd P/E 34.30
P/S ratio 5.06
P/B ratio 7.49 (above 6: high)
Past 5Y EPS Growth 24.53% (at or above 15%: strong)
This Y EPS Growth 12.61%
Next Y EPS Growth 19.53% (at or above 15%: strong)
Next Y revenue growth 19.73% (at or above 10%: strong)
Next 5Y EPS Growth 16.34% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 94.25%
10-year low 10-year high
P/S against its own 10 years 82.79%
10-year low 10-year high
P/B against its own 10 years 70.36%
10-year low 10-year high
EV/Sales against its own 10 years 87.03%
10-year low 10-year high
EV/FCF against its own 10 years 80.10%
10-year low 10-year high

Dividends

Payout Ratio 0.44
Annual Dividend Rate 4.34
Annual Dividend Yield 1.11%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 4.42
1.10
1.10
1.10
2025 4.16
1.04
1.04
1.04
1.04
2024 3.76
0.94
0.94
0.94
0.94
2023 3.44
0.86
0.86
0.86
0.86
2022 3.24
0.81
0.81
0.81
0.81
2021 3.04
0.76
0.76
0.76
0.76
2020 3.65
0.73
0.73
0.73
0.73
0.73
2019 2.84
0.71
0.71
0.71
0.71
2018 2.64
0.66
0.66
0.66
0.66
2017 2.40
0.60
0.60
0.60
0.60
2016 2.28
0.57
0.57
0.57
0.57
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,609 2,080 803 695
Receivables 4,475 4,619 5,387 6,673
Inventory 3,739 4,227 4,721 5,417
Other — — — —
11,675 11,801 12,355 14,772
2023 2024 2025 Q'26
Payables 3,365 3,678 4,168 5,421
ST’ Debt 1,017 674 1,136 11
Other 2,680 2,835 3,421 3,755
7,747 7,857 9,370 11,909

Compound Annual Growth %

10y 5y 3y
Sales 2.79% 8.98% 9.77%
Cash Flow 6.38% 8.72% 20.86%
Earnings 7.56% 23.72% 18.41%
Book Value 2.49% 5.39% 4.47%

Revenue $m

Mar Jun Sep Dec Year
’26 7,451 8,531 — — —
’25 6,377 7,028 6,988 7,055 27,448
’24 5,943 6,350 6,345 6,240 24,878
’23 5,483 5,866 5,880 5,967 23,196
’22 4,843 5,212 5,313 5,384 20,752
’21 4,692 5,215 4,923 4,798 19,628
’20 4,789 3,856 4,526 4,687 17,858
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 507 1,127 — — —
’25 238 918 1,351 1,965 4,472
’24 475 946 1,309 1,597 4,327
’23 335 850 1,141 1,298 3,624
’22 42 340 965 1,186 2,533
’21 260 637 471 795 2,163
’20 323 757 921 943 2,944
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 352 875 — — —
’25 140 720 1,173 1,600 3,633
’24 350 778 1,133 1,343 3,604
’23 212 687 967 1,077 2,943
’22 (69) 289 904 974 2,098
’21 141 500 345 646 1,632
’20 211 667 832 857 2,567
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.22 2.11 — — —
’25 2.45 2.51 2.59 2.91 10.45
’24 2.04 2.48 2.53 2.45 9.50
’23 1.59 1.86 2.22 2.35 8.02
’22 1.33 1.50 1.52 1.80 6.14
’21 1.14 1.26 1.57 1.37 5.34
’20 1.07 0.13 1.11 1.18 3.49
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 46.19 66.60 64.46 66.22 56.42 114.01 122.50 150.86 231.84 231.85

Analyst estimates 2026–2028

Powerpack
High 70.00 82.34 89.85 95.48 123.67 175.72 173.39 241.97 379.99 399.56
People
People Employees 95,000 96,000 99,000 101,000 91,987 86,000 92,000 94,000 94,000 97,000
Revenue/emp, $m 0.21 0.21 0.22 0.21 0.19 0.23 0.23 0.25 0.26 0.28
Income, $m
Income, $m Revenue 19,747 20,404 21,609 21,390 17,858 19,628 20,752 23,196 24,878 27,448
Gross margin, % 32.16 32.58 32.85 32.97 30.52 32.28 33.19 36.36 38.20 37.59
EBT 2,118 3,368 2,424 2,591 1,746 2,896 2,911 3,827 4,566 4,932
EBT margin, % 10.73 16.51 11.22 12.11 9.78 14.75 14.03 16.50 18.35 17.97
Net income 1,919 2,986 2,146 2,213 1,415 2,146 2,465 3,223 3,798 4,090
Depreciation 929 914 903 884 811 922 954 926 921 1,006
Per share, $
Per share, $ Revenue 43.40 45.90 49.76 51.05 44.40 49.23 52.05 58.12 62.57 70.40
Earnings 4.22 6.71 4.93 5.28 3.51 5.38 6.18 8.06 9.54 10.48
Cash flow 5.65 6.00 6.12 8.24 7.32 5.43 6.35 9.08 10.88 11.47
Capex (1.09) (1.17) (1.30) (1.40) (0.94) (1.33) (1.09) (1.71) (1.82) (2.15)
Free cash flow 4.56 4.83 4.82 6.84 6.38 4.09 5.26 7.37 9.06 9.32
Book value 32.96 38.90 37.17 38.50 37.23 41.26 42.83 47.78 46.61 49.93
Shares, m 455 445 434 419 402 399 399 399 398 390
Valuation, ×
Valuation, × P/E 16.20 11.75 13.93 17.97 34.33 32.12 25.57 29.64 34.79 30.33
P/S 1.58 1.72 1.38 1.86 2.71 3.51 3.03 4.11 5.30 4.52
P/B 2.08 2.03 1.85 2.46 3.23 4.19 3.68 5.00 7.12 6.38
EV/Sales 1.96 2.04 1.69 2.20 3.10 3.92 3.41 4.40 5.59 4.86
EV/FCF 18.67 19.43 17.43 16.47 21.53 47.12 33.68 34.66 38.57 36.69
Cash, $m
Cash, $m Operating cash flow 2,570 2,666 2,658 3,451 2,944 2,163 2,533 3,624 4,327 4,472
Capex (497) (520) (565) (587) (377) (531) (435) (681) (723) (839)
Free cash flow 2,073 2,146 2,093 2,864 2,567 1,632 2,098 2,943 3,604 3,633
Balance, $m
Balance, $m Working capital 1,548 3,262 2,436 3,596 3,297 299 2,386 3,928 3,944 2,985
Total debt 8,263 7,745 7,107 8,067 8,057 8,566 8,331 9,261 9,152 9,894
Net debt 7,517 6,650 6,667 7,476 6,955 7,998 7,776 6,652 7,072 9,091
Shareholders’ equity 14,998 17,290 16,142 16,133 14,973 16,451 17,075 19,069 18,531 19,469
Returns, %
Returns, % ROA 6.23 9.46 6.73 6.92 4.36 6.51 7.13 8.76 9.88 10.26
ROIC 6.38 6.63 7.37 7.58 5.20 6.30 7.53 9.44 11.31 11.40
ROE 12.68 18.49 12.83 13.70 9.07 13.65 14.69 17.81 20.18 21.51
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Eaton Corporation, PLC vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GEV GE Vernova Inc. $246.7B 26.0× 30.1× +21.87% (above 0%: growing) +31.75% (above 0%: growing) +2,544.33% (above 0%: growing) 21.26% 5.90% Compare
ETN Eaton Corporation, PLC $156.3B 39.7× 34.3× +21.39% (above 0%: growing) −16.27% (below 0%: shrinking) +21.53% (above 0%: growing) 33.47% 16.32%
PH Parker-Hannifin Corporation $121.3B 33.3× 28.8× +9.77% (above 0%: growing) +19.45% (above 0%: growing) +17.22% (above 0%: growing) 39.04% 23.86% Compare
EMR Emerson Electric Co. $90.5B 35.3× 28.3× +7.03% (above 0%: growing) +23.08% (above 0%: growing) +35.31% (above 0%: growing) 54.48% 26.92% Compare
ITW Illinois Tool Works Inc. $77.2B 24.6× 22.3× +6.12% (above 0%: growing) +10.47% (above 0%: growing) +39.74% (above 0%: growing) 44.13% 26.67% Compare
CMI Cummins Inc. $73.3B 27.0× 23.2× +9.42% (above 0%: growing) +4.64% (above 0%: growing) +125.63% (above 0%: growing) 26.07% 13.52% Compare
AME AMETEK, Inc. $57.0B 36.1× 31.3× +14.98% (above 0%: growing) +14.84% (above 0%: growing) +36.95% (above 0%: growing) 35.95% 25.84% Compare
ROK Rockwell Automation, Inc. $46.9B 39.9× 36.1× +7.88% (above 0%: growing) +40.38% (above 0%: growing) +33.74% (above 0%: growing) 49.46% 21.75% Compare
IR Ingersoll Rand Inc. $30.2B 31.7× 29.8× +8.52% (above 0%: growing) n/m +28.33% (above 0%: growing) 42.10% 18.56% Compare
Median of peers $75.3B 32.5× 29.3× +8.97% +19.45% +36.13% 40.57% 22.81%

All 76 Specialty Industrial Machinery stocks →

ETN metrics, ten years each

Eaton Corporation, PLC (ETN) key facts

  • Strength: Eaton Corporation, PLC’s revenue for fiscal 2025 (year ended December 2025) was $27.4 billion, up 10.3% from fiscal 2024.
  • Strength: Net income was $4.1 billion, or $10.48 per share (basic), a net margin of 14.9%.
  • Eaton Corporation, PLC (ETN) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, ETN traded at $391.25, a market capitalization of $156.3 billion.
  • At that price the stock trades at 39.7× trailing-twelve-month earnings and 5.1× sales; its P/E is higher than 94% of its own readings over the past ten years.
  • Eaton Corporation, PLC pays an annual dividend of $4.34 per share, a yield of 1.11%, with a payout ratio of 44.2%.
  • Return on equity was 21.5% and debt-to-equity 0.91.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 4.95 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated

Eaton reported revenue of $27.4 billion, net income of $4.1 billion and diluted EPS of $10.45 in FY2025. In Q2 FY2026, revenue reached $8.5 billion while net income was $822.0 million and diluted EPS was $2.11. Trailing-twelve-month revenue to Q2 FY2026 was $30.0 billion, with trailing-twelve-month net income of $3.8 billion.

Revenue growth continued in Q2 FY2026, while gross and operating margins were below their Q2 FY2025 levels. Net debt was $17.8 billion in Q2 FY2026, compared with $9.1 billion in FY2025. Management attributes second-quarter sales growth to organic growth and acquisitions, while citing commodity and wage inflation and intangible amortization as factors affecting margins.

Eaton Corporation, PLC (ETN) Latest News

stockrow.com/ETN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com