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ETN Eaton Corp plc

NYSEIndustrialsMisc Industrial & Commercial Machinery & EquipmentDublin, IrelandFY ends December 31

New 8-K: Filed an 8-K current report in the last 7 days.Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 26, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$27.4BYoYup 10.33%ended Dec 31, 2025
Net income
$4.09B14.9% margin
Diluted EPS
$10.45YoYup 10.00%
Free cash flow
$3.55B12.9% margin
Cash
$622MNet debt $9.27B
Total debt
$9.9BD/E 0.51×
About Eaton Corp plc

Overview

Eaton Corp plc (ETN) is listed on NYSE; the SEC classifies it under "Misc Industrial & Commercial Machinery & Equipment".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $27.45B, up 10.3% from fiscal 2024.

Net income was $4.09B, a net margin of 14.9%.

At fiscal year end it had total assets of $41.25B and stockholders' equity of $19.43B (47.1% of assets).

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 26, 2026
Latest filing
10-QNov 3, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$0——
FY2017$20.4B——
FY2018$21.6B$2.15B9.9%
FY2019$21.4B——
FY2020$17.9B$1.41B7.9%
FY2021$19.6B$2.14B10.9%
FY2022$20.8B$2.46B11.9%
FY2023$23.2B$3.22B13.9%
FY2024$24.9B$3.79B15.3%
FY2025$27.4B$4.09B14.9%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodGross marginOperating marginNet margin
FY2016———
FY201732.6%15.8%—
FY201832.8%16.8%9.9%
FY201933.0%17.2%—
FY202030.5%—7.9%
FY202132.3%—10.9%
FY202233.2%—11.9%
FY202336.4%—13.9%
FY202438.2%—15.3%
FY202537.6%—14.9%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$4.21
FY2017$6.68
FY2018$4.91
FY2019$5.25
FY2020$3.49
FY2021$5.34
FY2022$6.14
FY2023$8.02
FY2024$9.50
FY2025$10.45

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2016 to FY2025.
PeriodFree cash flowNet income
FY2016$2.06B—
FY2017$2.15B—
FY2018$2.09B$2.15B
FY2019$2.86B—
FY2020$2.56B$1.41B
FY2021$1.59B$2.14B
FY2022$1.94B$2.46B
FY2023$2.87B$3.22B
FY2024$3.52B$3.79B
FY2025$3.55B$4.09B

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016457M
FY2017447M
FY2018437M
FY2019421M
FY2020404M
FY2021402M
FY2022401M
FY2023401M
FY2024399M
FY2025391M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalentsTotal debt
FY2016$543M$8.28B
FY2017$561M$7.75B
FY2018$283M$7.52B
FY2019$370M$8.32B
FY2020$438M$8.06B
FY2021$297M$8.58B
FY2022$294M$8.66B
FY2023$488M$9.27B
FY2024$555M$9.15B
FY2025$622M$9.9B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross margin
37.6%
Net margin
14.9%
FCF margin
12.9%
Return on equity
21.6%
Return on assets
10.3%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 10.33%up 9.77%up 8.98%—
EPS (diluted)up 10.00%up 19.39%up 24.53%up 10.63%
Free cash flowup 0.97%up 22.45%up 6.82%up 6.27%
Change in share count
-2.05%

Financial strength

Current ratio
1.32×
Debt / equity
0.51×
Net debt
$9.27B
Equity / assets
47.1%

Shareholder returns

Dividends per share
$4.16
Dividends paid
$1.63B
Buybacks
$1.86B
Payout ratio
39.8%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

7 of 9 checks passed

FY2025 vs FY2024

  • PassPositive return on assets10.6%
  • PassPositive operating cash flow$4.47B
  • PassReturn on assets improved10.6% vs 9.9%
  • PassOperating cash flow above net income11.7% vs 10.6%
  • PassLong-term debt / assets fell21.2% vs 22.1%
  • FailCurrent ratio improved1.32× vs 1.5×
  • PassNo increase in share count391M vs 399M
  • FailGross margin improved37.6% vs 38.2%
  • PassAsset turnover improved0.72× vs 0.65×

Altman Z''-Score

Needs current assets and liabilities, retained earnings, operating income, total assets, liabilities and equity from the latest 10-K.

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue27,44824,87823,19620,75219,62817,85821,39021,60920,4040
YoY (Revenue)+10.33%+7.25%+11.78%+5.73%+9.91%-16.51%-1.01%———
Gross profit10,3179,5038,4346,8876,3355,4507,0527,0986,648-13,400
Research & development797794754665616551606584584589
Selling, general & admin.4,3114,0773,7953,2273,2563,0753,5833,5483,5653,505
Operating income——————3,6753,6303,2142,958
Interest expense241———144149236———
Pretax income4,9324,5663,8272,9112,8961,7462,5912,4243,3682,127
Income tax841768604445750331378278382202
Net income4,0873,7943,2182,4622,1441,410—2,145——
YoY (Net income)+7.72%+17.90%+30.71%+14.83%+52.06%—————
EPS (basic)10.489.548.066.175.383.515.284.936.714.22
EPS (diluted)10.459.508.026.145.343.495.254.916.684.21
YoY (EPS (diluted))+10.00%+18.45%+30.62%+14.98%+53.01%-33.52%+6.92%-26.50%+58.67%—
Diluted shares (weighted)391399401401402404421437447457

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents622555488294297438370283561543
Inventory4,7214,2273,7393,4302,9692,1092,8052,7852,6202,254
Current assets12,35511,80111,6758,7467,5119,1788,7287,5908,3376,941
Goodwill15,76914,71314,97714,79614,75112,90313,45613,32813,56813,201
Intangible assets5,0544,6585,0915,4855,8554,1754,6384,8465,2655,514
Total assets41,25138,38138,43235,01434,02731,82432,80531,09232,62330,419
Current liabilities9,3707,8577,7476,3607,2125,8815,1325,1545,0755,485
Short-term debt1,1376741,0253341,7481,0485037535841,566
Long-term debt8,7588,4788,2448,3216,8317,0107,8196,7687,1676,711
Retained earnings10,70210,09610,3058,4687,5946,7948,1708,1618,6697,498
Stockholders' equity19,42518,48819,03617,03816,41314,93016,08216,10717,25314,897
Shares outstanding388393399398399398413424440449

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow4,4724,3273,6242,5332,1632,9443,4512,6582,6662,552
Capital expenditures919808757598575389587565520497
Free cash flow3,5533,5192,8671,9351,5882,5552,8642,0932,1462,055
YoY (Free cash flow)+0.97%+22.74%+48.17%+21.85%-37.85%-10.79%+36.84%-2.47%+4.43%—
Depreciation & amortization1,006921926954922811884903914929
Stock-based compensation——————9111114
Share repurchases1,8622,49202861221,6081,0291,271850730
Dividends paid1,6261,5001,3791,2991,2191,1751,2011,1491,0681,037
Dividends per share4.163.763.443.243.042.922.842.642.402.28
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$10.45
Revenue per share
$70.16
FCF per share
$9.08
Book value per share
$49.65
Tangible book per share
-$3.57
Cash per share
$1.59
Dividends per share
$4.16
Public floatas of Jun 30, 2025
$139B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-QNew
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-KNew
    Current report· Nov 3, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Oct 16, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Sep 30, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  5. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  6. 8-K
    Current report· Jul 31, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  7. 8-K
    Current report· Jun 10, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 8.01Other events
    • 9.01Financial statements and exhibits
  8. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
  9. 8-K
    Current report· May 5, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· Apr 22, 2026(SEC EDGAR)
    • 5.07Shareholder vote results
All filings on SEC EDGAR

Frequently asked questions

What does Eaton Corp plc do?

The SEC classifies Eaton Corp plc under Standard Industrial Classification (SIC) code 3590, "Misc Industrial & Commercial Machinery & Equipment". It is headquartered in Dublin, Ireland. In fiscal 2025 it reported revenue of $27.45B and net income of $4.09B in its annual 10-K report.

What was Eaton Corp plc's revenue in 2025?

Eaton Corp plc reported revenue of $27.45B for fiscal 2025, which ended Dec 31, 2025, up 10.3% from $24.88B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 26, 2026.

What was Eaton Corp plc's net income in 2025?

Eaton Corp plc reported net income of $4.09B for fiscal 2025, a net margin of 14.9% of revenue.

Where is Eaton Corp plc listed?

According to the SEC, Eaton Corp plc's ticker ETN is listed on NYSE.

When does Eaton Corp plc's fiscal year end?

According to the SEC, Eaton Corp plc's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.