Saturday 17 October 2026 Export ETN’s income statement to Excel — free account

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%

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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

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

Fwd P/E 34.30

P/S ratio 5.06

P/B ratio 7.49

Past 5Y EPS Growth 24.53%

This Y EPS Growth 12.61%

Next Y EPS Growth 19.53%

Next Y revenue growth 19.73%

Next 5Y EPS Growth 16.34%

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

Valuation vs history

EV/Sales, ten years

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
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

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 →

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 29 September 2026

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.

Read the full analysis →