Overview
Eaton Corp plc
Latest 10-K: FY2025, filed Feb 26, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $27.45B
- 10.3%YoYup from FY2024
- TotalRevenue
- Gross profit
- $10.32B
- 8.6%YoYup from FY2024
- GrossProfit
- Net income
- $4.09B
- 7.7%YoYup from FY2024
- NetIncome
- Diluted EPS
- $10.45
- 10.0%YoYup from FY2024
- EPSDiluted
- Diluted shares
- 391.2M
- 2.1%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Eaton Corp plc reported revenue of $27.45B for fiscal 2025, up 10.3% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 3 of the last 5 fiscal years.
Profitability
- Net margin was 14.9%, against a median of 12.8% across S&P 500 members for the same fiscal year.
Per share
- Diluted EPS was $10.45, up 10.0% from the prior year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Oct 31, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $27.45B10.3%up Benchmark median 6.4% | $24.88B7.3%up Benchmark median 4.5% | $23.20B11.8%up Benchmark median 4.8% | $20.75B5.7%up Benchmark median 10.3% | $19.63B9.9%up Benchmark median 13.8% | 8.7% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $10.32B8.6%up Benchmark median 6.8% | $9.50B12.7%up Benchmark median 5.5% | $8.43B22.5%up Benchmark median 5.2% | $6.89B8.7%up Benchmark median 8.3% | $6.33B16.2%up Benchmark median 15.7% | 13.0% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | — | — | — | — | — | — Benchmark median 7.2% |
| Net Income | $4.09B7.7%up Benchmark median 4.8% | $3.79B17.9%up Benchmark median 5.7% | $3.22B30.7%up Benchmark median 1.9% | $2.46B14.8%up Benchmark median 1.3% | $2.14B52.1%up Benchmark median 33.9% | 17.5% Benchmark median 4.1% |
| EPS (Diluted) | $10.4510.0%up Benchmark median 6.2% | $9.5018.5%up Benchmark median 7.9% | $8.0230.6%up Benchmark median 1.9% | $6.1415.0%up Benchmark median 1.5% | $5.3453.0%up Benchmark median 34.8% | 18.3% Benchmark median 5.6% |
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $41.25B7.5%up Benchmark median 5.6% | $38.38B0.1%down Benchmark median 3.4% | $38.43B9.8%up Benchmark median 4.1% | $35.01B2.9%up Benchmark median 2.2% | $34.03B6.9%up Benchmark median 6.7% | 4.9% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $19.47B5.1%up Benchmark median 6.8% | $18.53B2.8%down Benchmark median 5.4% | $19.07B11.7%up Benchmark median 7.3% | $17.07B3.8%up Benchmark median 2.5% | $16.45B9.9%up Benchmark median 9.0% | 4.3% Benchmark median 6.1% |
| Cash & Equivalents | $622.00M12.1%up Benchmark median 5.2% | $555.00M13.7%up Benchmark median 1.9% | $488.00M66.0%up Benchmark median 6.7% | $294.00M1.0%down Benchmark median -8.6% | $297.00M32.2%down Benchmark median -2.9% | 20.3% Benchmark median 2.0% |
| Total Debt | $9.89B8.1%up Benchmark median 2.1% | $9.15B1.2%down Benchmark median 0.2% | $9.26B11.2%up Benchmark median 0.3% | $8.33B2.7%down Benchmark median 0.1% | $8.57B6.3%up Benchmark median -0.1% | 3.7% Benchmark median 4.3% |
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.47B3.4%up Benchmark median 6.3% | $4.33B19.4%up Benchmark median 4.8% | $3.62B43.1%up Benchmark median 9.9% | $2.53B17.1%up Benchmark median -0.7% | $2.16B26.5%down Benchmark median 10.7% | 19.9% Benchmark median 7.0% |
| Capital Expenditures | $919.00M13.7%up Benchmark median 5.4% | $808.00M6.7%up Benchmark median 2.8% | $757.00M26.6%up Benchmark median 11.3% | $598.00M4.0%up Benchmark median 14.0% | $575.00M47.8%up Benchmark median 8.1% | 12.4% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $3.55B1.0%up Benchmark median 7.3% | $3.52B22.7%up Benchmark median 6.1% | $2.87B48.2%up Benchmark median 8.8% | $1.94B21.9%up Benchmark median -11.3% | $1.59B37.8%down Benchmark median 10.2% | 22.3% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the benchmark universe on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
3.3%
Wall Street
on net earnings
FY2024 2.9%
2.9%
Value investor
on free cash flow
FY2024 2.7%
Gap −0.4 pts: Value-investor figure 0.4 points lower
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
P/E 30.5×Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
15.6%
Wall Street
on book equity
FY2024 14.0%
n/m
Value investor
on tangible book
FY2024 n/m
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 6.4×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
21.5%
Wall Street
ROE: net income ÷ equity
FY2024 20.2%
— Not reported
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 — Not reported
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
— Not reported
Wall Street
EBITDA margin
FY2024 — Not reported
12.9%
Value investor
Free-cash-flow margin
FY2024 14.1%
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
1.32×
Wall Street
Current ratio
FY2024 1.50×
0.81×
Value investor
Quick ratio, inventory excluded
FY2024 0.96×
Gap −0.51×: Value-investor figure 0.51 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Balance sheet · Debt cover
How many times one year of earnings repays all debt
— Not reported
Wall Street
EBITDA ÷ total debt
FY2024 — Not reported
0.36×
Value investor
FCF ÷ total debt
FY2024 0.38×
How it’s calculated
Wall Street · EBITDA ÷ total debt
EBITDA ÷ total debt (short-term + long-term)
ebitda ÷ total debt
Value investor · FCF ÷ total debt
Free cash flow ÷ total debt: what is actually left to repay it
free cash flow ÷ total debt
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on ETN yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on ETN and publish the result to your public profile.
Cite this page
Data as of Oct 31, 2026. Canonical address: https://valuein.biz/data/ETN
Valuein. (2026, October 31). Eaton Corp plc (ETN) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/ETN
@misc{valuein_etn_2026,
author = {{Valuein}},
title = {Eaton Corp plc (ETN) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/ETN}},
note = {Data as of 2026-10-31; source: SEC EDGAR filings}
}10-K filed Feb 26, 2026 · accession 0001551182-26-000007
Agents: every figure Valuein's tools return carries a fact_id that traces to its SEC filing.
point-in-time · survivorship-free · every number traceable to its SEC filing
Index names are trademarks of their owners; Valuein is not affiliated with or endorsed by any index provider.