FirmAtlas
Company handbook · ETN · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ETN · CIK 1551182 · LATEST FILING: 10-Q JUN '26 · FILED JUL 31, 2026
EATON CORPORATION plc
$391.25
−11.23 (−2.79%)
Close, Oct 16, 2026 · 52-week $312–478
Eaton makes equipment that controls and protects electric power: switchgear, circuit breakers, power distribution and backup power for data centers, utilities, factories and buildings. It also makes aircraft fuel, hydraulic and power systems, and parts for trucks, cars and electric vehicles.
Business
- SegmentsElectrical Americas 48% · Electrical Global 25% · Aerospace 15% · Vehicle 9% · E Mobility 2% (FY25)
- RegionsUS 62% · Europe 19% · Asia-Pacific 10% · Latin America 5% · Canada 4% (FY25)
- CustomersData center owners, utilities, builders, factories, aircraft makers and airlines, and truck and car makers; sold through distributors and electrical contractors, and directly to large customers
- Cash useFY24–FY25: buybacks $4.4B · dividends $3.1B · capex $1.7B · acquisitions $1.5B
Reinvested 37% of operating cash flow · returned 106% of free cash flow
Last fiscal year
EATON CORPORATION plc reported revenue of $27.4B for the year ended Dec 31, 2025 (FY25), up 10.3% from FY24. Net income was $4.1B, operating cash flow $4.5B and free cash flow $3.6B. Source: 10-K filed Feb 26, 2026.
Market cap
$151.8B
P/E
39.6
P/B
7.5
Div yield
1.11%
Revenue 1Y
10.3%/yr
EPS 1Y
10.0%/yr
Shares 1Y
−1%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOPaulo Ruiz
HQDublin, Ireland
AuditorErnst & Young LLP
Employees97,000
Year endsDecember
Revenue by segment · FY25
Electrical Americas48%
Electrical Global25%
Aerospace15%
Vehicle9%
E Mobility2%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.0%
19.4%
22.7%
4.2%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$10.7B deployed
Capex
$1.7B
16.1%
Acquisitions
$1.5B
14.3%
Dividends
$3.1B
29.1%
Buybacks
$4.4B
40.5%
Operating cash flow over the period: $8.8B. Total debt changed by +$280M. R&D of $1.6B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Balance sheet
Total assets
38,381
41,251+7.5%
56,181
Cash & short-term investments
2,080
803−61.4%
—
Accounts receivable
4,619
5,387+16.6%
—
Inventory
4,227
4,721+11.7%
—
Net PP&E
3,729
4,316+15.7%
—
Other assets
23,726
26,024+9.7%
—
Total liabilities
19,893
21,826+9.7%
35,927
Accounts payable
3,678
4,168+13.3%
—
Total debt
8,478
8,758+3.3%
18,509
Other liabilities
7,737
8,900+15.0%
—
Shareholders’ equity
18,488
19,425+5.1%
20,254
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
4,327
4,472+3.4%
4,950
Net income
3,798
4,090+7.7%
—
Depreciation & amortization
921
1,006+9.2%
—
Working capital & other
(392)
(624)n/m
—
Cash from investing
(271)
(1,101)n/m
—
Capex
(808)
(919)n/m
—
PP&E sold
85
80−5.9%
—
Acquisitions
(50)
(1,490)n/m
—
Investments bought
(70)
(16)n/m
—
Other investing
572
1,244+117.5%
—
Cash from financing
(3,936)
(3,173)n/m
—
Debt raised
1,084
1,058−2.4%
—
Debt repaid
(1,015)
(717)n/m
—
Dividends
(1,500)
(1,626)n/m
—
Buybacks
(2,492)
(1,862)n/m
—
Shares issued
69
39−43.5%
—
Other financing
(82)
(65)n/m
—
Net change in cash
67
67+0.0%
—
Free cash flow (OCF − capex)
3,519
3,553+1.0%
3,934
Where the cash went
Operating cash flow
4,327
4,472+3.4%
4,950
Reinvested in the business
858
2,409+180.8%
—
% of operating cash flow
19.8%
53.9%
Capex
808
919+13.7%
1,016
Acquisitions
50
1,490+2880.0%
—
R&D (memo, already in costs)
794
797+0.4%
—
Free cash flow
3,519
3,553+1.0%
3,934
YoY
+1.0%
Returned to shareholders
3,992
3,488−12.6%
—
% of free cash flow
113.4%
98.2%
Dividends
1,500
1,626+8.4%
—
Buybacks
2,492
1,862−25.3%
—
Change in total debt
—
280
—
Cash left over
—
(1,145)
—
FCF conversion (FCF ÷ net income)
92.8%
86.9%−5.8 pp
—
Owner earnings
—
3,402
—
Owner earnings margin
—
12.4%
—
Buyback yield
1.9%
1.5%−0.4 pp
—
Returns & ratios
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
6,988
7,055
7,451
8,531
vs year-ago quarter
Gross profit
2,675
2,598
2,652
2,855
Gross margin
38.3%
36.8%
35.6%
33.5%
Net income
1,010
1,131
866
821
vs year-ago quarter
Net margin
14.5%
16.0%
11.6%
9.6%
EPS (diluted, $)
2.59
2.92
2.22
2.11
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
40,650
41,251
55,085
56,181
Cash & equivalents
328
803
565
483
Total debt
8,756
8,758
18,535
18,509
Shareholders’ equity
18,843
19,425
19,721
20,254
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
1,351
1,965
507
1,127
Capex
178
392
193
253
Free cash flow
1,173
1,573
314
874
vs year-ago quarter