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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.

Revenue: +28.0%
EPS: +6.79%
Free cash flow: −11.0%
Total debt: +87.1%

Quarter to September 2026, against a year earlier

327.18 25.90 −7.34%

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Market cap: $127.1B
P/E: 32.6×
Fwd P/E: 32.9×
Dividend yield: 1.01%
F-score: 7/9
Altman Z: 4.95
Beneish M: −2.37
Dividend safety: 86/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Eaton Corporation, PLC (ETN) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Electrical Americas	13,276	48.37%
Electrical Global	6,815	24.83%
Aerospace	4,249	15.48%
Vehicle	2,505	9.13%
eMobility	604	2.20%
Gross margin		37.59%
Operating margin		18.98%
Pre-tax margin		17.97%

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2010
Electrical Americas	13,276 48.37%	11,436 45.97%	10,098 43.53%	8,497 40.95%	7,242 36.90%	6,680 37.41%	8,175 38.22%	7,914 36.62%	—	—	—	3,675 26.80%
Electrical Global	6,815 24.83%	6,248 25.11%	6,084 26.23%	5,848 28.18%	5,516 28.10%	4,703 26.34%	5,172 24.18%	5,159 23.87%	—	—	—	—
Aerospace	4,249 15.48%	3,744 15.05%	3,413 14.71%	3,039 14.64%	2,648 13.49%	2,223 12.45%	2,480 11.59%	2,335 10.81%	1,744 8.55%	1,753 8.88%	1,807 8.66%	1,536 11.20%
Vehicle	2,505 9.13%	2,790 11.21%	2,965 12.78%	2,830 13.64%	2,579 13.14%	2,118 11.86%	3,038 14.20%	3,489 16.15%	3,326 16.30%	3,141 15.91%	3,682 17.66%	—
eMobility	604 2.20%	662 2.66%	636 2.74%	538 2.59%	343 1.75%	292 1.64%	321 1.50%	320 1.48%	283 1.39%	266 1.35%	—	—
Hydraulics	—	—	—	—	1,300 6.62%	1,842 10.31%	2,204 10.30%	2,392 11.07%	2,468 12.10%	2,222 11.25%	2,459 11.79%	2,212 16.13%
Electrical Products	—	—	—	—	—	—	—	—	6,917 33.90%	6,703 33.94%	6,976 33.45%	—
Electrical Systems and Services	—	—	—	—	—	—	—	—	5,666 27.77%	5,662 28.67%	5,931 28.44%	—
Electrical Rest of World	—	—	—	—	—	—	—	—	—	—	—	2,748 20.04%
Truck	—	—	—	—	—	—	—	—	—	—	—	1,997 14.56%
Automotive	—	—	—	—	—	—	—	—	—	—	—	1,547 11.28%
Cooper	—	—	—	—	—	—	—	—	—	—	—	0 0.00%
Revenue	27,448	24,878	23,196	20,752	19,628	17,858	21,390	21,609	20,404	19,747	20,855	13,715

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2010
Electrical Americas	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Global	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aerospace	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Vehicle	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
eMobility	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Hydraulics	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Systems and Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Rest of World	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Truck	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Automotive	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Cooper	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2010
United States	17,122 62.38%	15,151 60.90%	14,071 60.66%	12,353 59.53%	10,868 55.37%	10,044 56.24%	12,336 57.67%	12,034 55.69%	11,222 55.00%	10,937 55.39%	11,396 54.64%	6,166 44.96%
Europe	5,078 18.50%	4,530 18.21%	4,339 18.71%	3,957 19.07%	4,276 21.79%	3,818 21.38%	4,311 20.15%	4,553 21.07%	4,394 21.53%	4,228 21.41%	4,379 21.00%	3,532 25.75%
Asia Pacific	2,704 9.85%	2,459 9.88%	2,288 9.86%	2,185 10.53%	2,527 12.87%	2,300 12.88%	2,490 11.64%	2,649 12.26%	2,361 11.57%	2,236 11.32%	2,385 11.44%	1,722 12.56%
Latin America	1,461 5.32%	1,680 6.75%	1,549 6.68%	1,504 7.25%	1,160 5.91%	939 5.26%	1,312 6.13%	1,442 6.67%	1,485 7.28%	1,448 7.33%	1,726 8.28%	1,629 11.88%
Canada	1,083 3.95%	1,058 4.25%	949 4.09%	754 3.63%	797 4.06%	757 4.24%	941 4.40%	931 4.31%	942 4.62%	898 4.55%	969 4.65%	666 4.86%
Revenue	27,448	24,878	23,196	20,752	19,628	17,858	21,390	21,609	20,404	19,747	20,855	13,715

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Aerospace backlog growth	Q3 FY2026	33.0%	15.0%	—
Aerospace book-to-bill ratio	Q3 FY2026	1.2×	1.1×	+9.09%
Aerospace twelve-month rolling average of orders growth	Q3 FY2026	20.0%	11.0%	—
Backlog growth	Q3 FY2026	121.0%	7.00%	—
Electrical Americas backlog growth	Q3 FY2026	33.0%	20.0%	—
Electrical backlog growth	Q3 FY2026	46.0%	18.0%	—
Electrical Global twelve-month rolling average of orders growth	Q1 FY2026	13.0%	—	—
Total book-to-bill ratio	Q3 FY2026	1.2×	1.1×	+9.09%
Twelve-month rolling average of orders growth	Q3 FY2026	39.0%	7.00%	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
Aerospace backlog growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aerospace book-to-bill ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Aerospace twelve-month rolling average of orders growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Backlog growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Americas backlog growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical backlog growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Electrical Global twelve-month rolling average of orders growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total book-to-bill ratio	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Twelve-month rolling average of orders growth	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.