ETN

Eaton
D

ETN

Arincen83/100B

Eaton financials

Yes. Eaton earned 3.90B USD of net income over the last twelve months, 12.2% of its revenue. It made a profit in 40 of its 41 fiscal years since 1985. Its last loss was in fiscal year 1992.

Revenue (TTM)
31.98B USD
Net income (TTM)
3.90B USD
Free cash flow (TTM)
3.80B USD
Cash and short-term investments
818.00M USD
Total debt
20.92B USD
Shareholders' equity
20.98B USD

Cash, debt and equity as of 30 Sept 2026.

Eaton earnings

Next earnings · Q4 FY2026
EPS estimate
4.11 USD
Revenue estimate
8.80B USD
Last quarter · Q3 FY2026
EPS3.68Beat +4.0%Revenue8.95BBeat +4.9%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q3 FY20274.31——+17.17%9.59B——+7.15%
Q2 FY20273.93——+24.80%9.23B——+8.24%
Q1 FY20273.55——+26.36%8.80B——+18.13%
Q4 FY20264.11——+23.42%8.80B——+24.74%
Q3 FY20263.543.68+3.95%+19.87%8.53B8.95B+4.89%+28.03%
Q2 FY20263.073.15+2.61%+6.78%8.16B8.53B+4.61%+21.39%
Q1 FY20262.732.81+2.93%+3.31%7.14B7.45B+4.30%+16.84%
Q4 FY20253.313.33+0.60%+17.67%7.09B7.06B-0.48%+13.06%
Q3 FY20253.053.07+0.66%+8.10%7.07B6.99B-1.19%+10.13%
Q2 FY20252.932.95+0.68%+8.06%6.91B7.03B+1.71%+10.68%

Eaton growth and profitability

Full income statement
Revenue (TTM)
31.98B USD
Net income (TTM)
3.90B USD
Gross margin
35.05%
Operating margin
17.29%
Net margin
12.19%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY202527.45B+10.33%4.09B+7.78%37.59%19.05%14.90%6.20B+10.14%
FY202424.88B+7.25%3.79B+17.90%38.18%19.56%15.25%5.63B+13.51%
FY202323.20B+11.78%3.22B+30.71%36.36%17.22%13.87%4.96B+25.50%
FY202220.75B+5.73%2.46B+14.83%33.28%15.62%11.86%3.95B-0.23%
FY202119.63B+9.91%2.14B+52.06%32.17%14.62%10.92%3.96B+42.62%

How Eaton makes its money

Electrical Americas13.28B 48.4%
Electrical Global6.82B 24.8%
Aerospace4.25B 15.5%
Vehicle2.51B 9.1%
eMobility618.00M 2.3%
Revenue27.45B 100.0%
Cost of revenue17.13B 62.4%
Gross profit10.32B 37.6%
Research and development796.00M 2.9%
Selling and administration4.28B 15.6%
Operating income5.23B 19.1%
Tax840.00M 3.1%
Other expense300.00M 1.1%
Net income4.09B 14.9%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Eaton revenue breakdown

By product

FY2025
Electrical Americas: 48.3%Electrical Global: 24.8%Aerospace: 15.5%Vehicle: 9.1%eMobility: 2.3%48.3%Electrical Americas24.8%Electrical Global15.5%Aerospace9.1%Vehicle2.3%eMobility
SegmentRevenueShare of revenueChange on the year
Electrical Americas13.28B48.3%+16.1%
Electrical Global6.82B24.8%+9.1%
Aerospace4.25B15.5%+13.5%
Vehicle2.51B9.1%-10.2%
eMobility618.00M2.3%-7.6%

By region

FY2025
United States: 62.4%Europe: 18.5%Asia Pacific: 9.9%Latin America: 5.3%Canada: 3.9%62.4%United States18.5%Europe9.9%Asia Pacific5.3%Latin America3.9%Canada
RegionRevenueShare of revenueChange on the year
United States17.12B62.4%+13.0%
Europe5.08B18.5%+12.1%
Asia Pacific2.70B9.9%+10.0%
Latin America1.46B5.3%-13.0%
Canada1.08B3.9%+2.4%

Operating and free cash flow

Full cash flow statement
Operating cash flow Free cash flow
Fiscal yearOperating cash flowFree cash flow
FY20254.47B3.55B
FY20244.33B3.52B
FY20233.62B2.87B
FY20222.53B1.94B
FY20212.16B1.59B
FY20202.94B2.56B
FY20193.45B2.86B
FY20182.66B2.09B
FY20172.67B2.15B
FY20162.57B2.07B

Eaton financial health

Full balance sheet
Cash and short-term investments
818.00M USD
Total debt
20.92B USD
Net cash
-20.10B USD
Free cash flow (TTM)
3.80B USD
Current ratio
1.23
Debt to equity
1.00
Piotroski score
5 / 9
Altman Z-score
3.42

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY2025803.00M11.17B3.55B
FY20242.08B9.82B3.52B
FY20232.61B9.80B2.87B
FY2022555.00M9.11B1.94B
FY2021568.00M8.92B1.59B

Assets, liabilities and equity

Total assets Total liabilities Shareholders' equity
Fiscal yearTotal assetsTotal liabilitiesShareholders' equity
FY202541.25B21.78B19.43B
FY202438.38B19.85B18.49B
FY202338.43B19.36B19.04B
FY202235.03B17.95B17.04B
FY202134.03B17.58B16.41B
FY202031.82B16.85B14.93B
FY201932.81B16.67B16.08B
FY201831.09B14.95B16.11B
FY201732.60B15.31B17.25B
FY201630.42B15.48B14.90B

Eaton valuation

Price to earnings ratio (TTM)
34.76
Forward P/E (FY2026)
25.39
Price to sales (TTM)
4.24
Price to book
6.46
EV / EBITDA (TTM)
24.21

Capital structure

Market capitalization
135.46B USD
+
Total debt
20.92B USD
−
Cash and short-term investments
818.00M USD
=
Enterprise value
155.56B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)18.39————
FY2027 (est.)21.4018.39———
FY2026 (est.)25.3921.40———
Now (TTM)34.7621.854.246.4624.21
FY202530.3623.194.506.3721.64
FY202434.7927.525.307.1425.08
FY202329.8822.374.145.0521.25
FY202225.4017.453.023.6718.06
FY202132.1222.873.514.2019.57

Eaton against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Vertiv Holdings, AMETEK, Bloom Energy, and Hubbell, the US Electrical Equipment & Parts companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median34.8
    22.546.6
  • Gross marginAbove its median37.6%
    32.2%38.2%
    Against its peers: 1 of 5Peers' median 35.9%
  • Operating marginAbove its median19.1%
    14.6%19.6%
    Against its peers: 3 of 5Peers' median 19.7%
  • Net marginAbove its median14.9%
    10.9%15.3%
    Against its peers: 3 of 5Peers' median 14.1%
  • Return on equityHighest in 5 years21.1%
    13.1%21.1%
    Against its peers: 3 of 5Peers' median 18.5%
  • Free cash flow marginAbove its median12.9%
    8.1%14.1%
    Against its peers: 4 of 5Peers' median 16.7%
  • Revenue growthAbove its median10.3%
    5.7%11.8%
    Against its peers: 3 of 5Peers' median 17.2%
  • EPS growthLowest in 5 years10.1%
    10.1%53.0%
    Against its peers: 3 of 4Peers' median 15.1%
  • Debt to EBITDABelow its median1.80×
    1.74×2.31×
    Against its peers: 3 of 5Peers' median 1.68×
  • Current ratioBelow its median1.32
    1.041.51
    Against its peers: 4 of 5Peers' median 1.63

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Eaton dividends

Annual dividend
4.40 USD
Dividend yield (indicated)
1.26%
Payout ratio
43.87%
Years of dividend growth
17
Frequency
Quarterly
Next payment
1.10 USD
Last ex-dividend date
10 Nov 2026
Next payment date
27 Nov 2026

Dividends per share

Year2025202420232022202120202019201820172016
Dividends per share4.163.763.443.243.042.922.842.642.402.28

Eaton ownership

Institutions
85.89%
Institutional holders
2,766 (+162)
Free float
99.82%

Who owns the shares

Institutions 85.9% Others 14.1%
As of 30 Jun 2026

Shares free to trade

Free float 387.81M shares ·99.8% Closely held 687.62K shares ·0.2%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Insider trading

QuarterPurchasesSalesShares acquiredShares disposed of
Q4 2026003.91K5.24K
Q3 20262225.50K40.13K
Q2 20262422.40K28.55K
Q1 202602120.43K57.70K

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY2025388.20M389.50M-2.48%
FY2024397.60M399.40M-0.42%
FY2023399.10M401.10M+0.07%
FY2022398.70M400.80M-0.20%
FY2021398.70M401.60M-0.59%

Common questions about Eaton's financials

Source: Financial Modeling PrepVerified against SEC filings