Eaton (ETN) Financials

$328.10 +7.04 (+2.19%)

Closing price 05/27/2025 03:59 PM Eastern

Extended Trading

$328.45 +0.35 (+0.11%)

As of 06:01 AM Eastern

Annual Income Statements for Eaton

This table shows Eaton's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	3,794	3,218	2,462	2,144	1,410	2,211	2,145	2,985	1,916	1,972
Consolidated Net Income / (Loss)	3,798	3,223	2,465	2,146	1,415	2,213	2,146	2,986	1,919	1,974
Net Income / (Loss) Continuing Operations	3,798	3,223	2,466	2,146	1,415	2,213	2,146	2,986	1,919	1,974
Total Pre-Tax Income	4,566	3,827	2,911	2,896	1,746	2,591	2,424	3,368	2,118	2,133
Total Operating Income	4,632	3,885	2,995	2,463	1,824	2,863	2,691	2,538	2,300	2,330
Total Gross Profit	9,503	8,434	6,887	6,335	5,450	7,052	7,098	6,648	6,351	6,551
Total Revenue	24,878	23,196	20,752	19,628	17,858	21,390	21,609	20,404	19,747	20,855
Operating Revenue	24,878	23,196	20,752	19,628	17,858	21,390	21,609	20,404	19,747	20,855
Total Cost of Revenue	15,375	14,762	13,865	13,293	12,408	14,338	14,511	13,756	13,396	14,304
Operating Cost of Revenue	15,375	14,762	13,865	13,293	12,408	14,338	14,511	13,756	13,396	14,304
Total Operating Expenses	4,871	4,549	3,892	3,872	3,626	4,189	4,407	4,110	4,051	4,221
Selling, General & Admin Expense	4,077	3,795	3,227	3,256	3,075	3,583	3,548	3,526	3,464	3,596
Research & Development Expense	794	754	665	616	551	606	584	584	587	625
Total Other Income / (Expense), net	-66	-58	-84	433	-78	-272	-267	830	-182	-197
Interest Expense	130	151	144	144	149	199	258	246	233	232
Other Income / (Expense), net	64	93	60	577	71	-73	-9.00	1,076	51	35
Income Tax Expense	768	604	445	750	331	378	278	382	199	159
Net Income / (Loss) Attributable to Noncontrolling Interest	4.00	5.00	4.00	2.00	5.00	2.00	1.00	1.00	3.00	2.00
Basic Earnings per Share	$9.54	$8.06	$6.17	$5.38	$3.51	$5.28	$4.93	$6.71	$4.21	$4.23
Weighted Average Basic Shares Outstanding	397.60M	399.10M	398.70M	398.70M	402.20M	419M	434.30M	444.50M	455M	465.50M
Diluted Earnings per Share	$9.50	$8.02	$6.14	$5.34	$3.49	$5.25	$4.91	$6.68	$4.20	$4.22
Weighted Average Diluted Shares Outstanding	399.40M	401.10M	400.80M	401.60M	404M	420.80M	436.90M	447M	456.50M	467.10M
Weighted Average Basic & Diluted Shares Outstanding	392M	399.50M	398M	398.80M	398.10M	413.40M	423.60M	448.20M	454M	465.60M
Cash Dividends to Common per Share	$3.76	$3.44	$3.24	$3.04	$2.92	$2.84	$2.64	$2.40	$2.28	$2.20

This table shows Eaton's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	964	971	1,009	993	821	945	891	744	638	722	607
Consolidated Net Income / (Loss)	965	971	1,011	994	822	947	892	745	639	723	608
Net Income / (Loss) Continuing Operations	965	971	1,011	994	822	947	892	745	639	724	608
Total Pre-Tax Income	1,177	1,166	1,204	1,195	1,001	1,088	1,079	898	762	852	720
Total Operating Income	1,201	1,224	1,211	1,193	1,004	1,078	1,060	946	801	875	790
Total Gross Profit	2,447	2,429	2,446	2,410	2,218	2,235	2,196	2,119	1,884	1,838	1,768
Total Revenue	6,377	6,240	6,345	6,350	5,943	5,967	5,880	5,866	5,483	5,384	5,313
Operating Revenue	6,377	6,240	6,345	6,350	5,943	5,967	5,880	5,866	5,483	5,384	5,313
Total Cost of Revenue	3,930	3,811	3,899	3,940	3,725	3,732	3,684	3,747	3,599	3,546	3,545
Operating Cost of Revenue	3,930	3,811	3,899	3,940	3,725	3,732	3,684	3,747	3,599	3,546	3,545
Total Operating Expenses	1,246	1,205	1,235	1,217	1,214	1,157	1,136	1,173	1,083	963	978
Selling, General & Admin Expense	1,048	1,003	1,028	1,021	1,025	956	949	986	904	796	813
Research & Development Expense	198	202	207	196	189	201	187	187	179	167	165
Total Other Income / (Expense), net	-24	-58	-7.00	3.00	-4.00	11	19	-49	-39	-23	-71
Interest Expense	33	42	29	29	30	26	33	42	50	44	37
Other Income / (Expense), net	9.00	-16	22	32	26	37	52	-7.00	11	21	-34
Income Tax Expense	212	195	193	201	179	141	187	153	123	128	112
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	1.00	1.00	1.00	1.00	2.00	1.00	1.00	1.00	2.00	1.00
Basic Earnings per Share	$2.46	$2.46	$2.54	$2.49	$2.05	$2.37	$2.23	$1.86	$1.60	$1.81	$1.52
Weighted Average Basic Shares Outstanding	392.20M	397.60M	397.10M	399.20M	399.90M	399.10M	399.40M	398.90M	398.50M	398.70M	398.40M
Diluted Earnings per Share	$2.45	$2.45	$2.53	$2.48	$2.04	$2.35	$2.22	$1.86	$1.59	$1.79	$1.52
Weighted Average Diluted Shares Outstanding	393.60M	399.40M	398.90M	401M	401.90M	401.10M	401.60M	400.70M	400.50M	400.80M	400.30M
Weighted Average Basic & Diluted Shares Outstanding	391.30M	392M	395.20M	398.10M	399.80M	399.50M	399.30M	399M	398.60M	398M	397.70M
Cash Dividends to Common per Share	$1.04	$0.94	$0.94	$0.94	$0.94	$0.86	$0.86	$0.86	$0.86	$0.81	$0.81

This table details how cash moves in and out of Eaton's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	67	194	-3.00	-141	68	87	-278	-600	275	-513
Net Cash From Operating Activities	4,327	3,624	2,533	2,163	2,944	3,451	2,658	2,666	2,570	2,409
Net Cash From Continuing Operating Activities	4,327	3,624	2,533	2,163	2,944	3,451	2,658	2,649	2,570	2,409
Net Income / (Loss) Continuing Operations	3,798	3,223	2,465	2,146	1,415	2,213	2,146	2,986	1,919	1,974
Consolidated Net Income / (Loss)	3,798	3,223	2,465	2,146	1,415	2,213	2,146	2,986	1,919	1,974
Depreciation Expense	921	926	954	922	811	884	903	914	929	925
Non-Cash Adjustments To Reconcile Net Income	6.00	-5.00	6.00	-164	96	208	134	-863	-30	-31
Changes in Operating Assets and Liabilities, net	-398	-520	-892	-741	622	146	-525	-388	-248	-459
Net Cash From Investing Activities	-271	-2,575	-1,200	-1,764	397	-1,866	-398	-217	-529	-575
Net Cash From Continuing Investing Activities	-270	-2,574	-1,201	-1,764	397	-1,866	-398	-824	-529	-575
Purchase of Property, Plant & Equipment	-808	-757	-598	-575	-389	-587	-565	-520	-497	-506
Acquisitions	-50	0.00	-610	-4,500	-200	-1,180	0.00	0.00	-	-72
Purchase of Investments	502	24	-89	-151	75	43	-110	-298	0.00	-
Sale of Property, Plant & Equipment	85	76	163	44	12	-	-	-	-	-
Divestitures	0.00	-2.00	31	3,129	1,408	-36	0.00	-	0.00	1.00
Sale and/or Maturity of Investments	33	-1,852	-18	379	-441	-70	355	-	-40	37
Other Investing Activities, net	-32	-63	-80	-90	-68	-36	-78	-6.00	8.00	-35
Net Cash From Financing Activities	-3,936	-871	-1,340	-535	-3,258	-1,494	-2,581	-2,442	-1,738	-2,305
Net Cash From Continuing Financing Activities	-3,936	-871	-1,340	-535	-3,258	-1,494	-2,581	-2,442	-1,738	-2,305
Repayment of Debt	-1,027	-339	-1,718	-1,008	-509	-516	-576	-1,568	-658	-1,036
Repurchase of Common Equity	-2,492	0.00	-286	-122	-1,608	-1,029	-1,271	-850	-730	-682
Payment of Dividends	-1,500	-1,379	-1,299	-1,219	-1,175	-1,201	-1,149	-1,068	-1,037	-1,026
Issuance of Debt	1,084	818	1,995	1,798	0.00	1,232	410	1,000	631	425
Other Financing Activities, net	-1.00	29	-32	16	34	20	5.00	44	56	14
Effect of Exchange Rate Changes	-52	16	4.00	-5.00	-15	-4.00	43	-	-28	-42

This table details how cash moves in and out of Eaton's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	1,221	81	-66	67	-15	140	-5.00	118	-59	63	-132
Net Cash From Operating Activities	238	1,597	1,309	946	475	1,298	1,141	850	335	1,186	965
Net Cash From Continuing Operating Activities	238	1,597	1,309	946	475	1,298	1,141	850	335	1,187	965
Net Income / (Loss) Continuing Operations	965	971	1,011	994	822	946	893	745	639	722	608
Consolidated Net Income / (Loss)	965	971	1,011	994	822	946	893	745	639	722	608
Depreciation Expense	232	234	235	227	225	231	229	228	238	238	237
Non-Cash Adjustments To Reconcile Net Income	5.00	1.00	2.00	3.00	0.00	-3.00	-1.00	-	-1.00	9.00	12
Changes in Operating Assets and Liabilities, net	-964	391	61	-278	-572	124	20	-123	-541	218	108
Net Cash From Investing Activities	1,233	-271	511	-544	33	-793	-752	-906	-124	-217	-161
Net Cash From Continuing Investing Activities	1,233	-270	511	-544	33	-783	-761	-907	-123	-218	-160
Purchase of Property, Plant & Equipment	-147	-255	-183	-187	-183	-243	-228	-160	-126	-209	-135
Purchase of Investments	-13	584	112	-344	150	31	61	-41	-27	-2.00	-66
Sale of Property, Plant & Equipment	49	1.00	7.00	19	58	22	54	-3.00	3.00	-3.00	74
Sale and/or Maturity of Investments	1,366	-595	594	23	11	-548	-636	-709	41	16	-25
Other Investing Activities, net	-22	-5.00	-20	-4.00	-3.00	-43	-12	6.00	-14	-22	-17
Net Cash From Financing Activities	-244	-1,244	-1,853	-303	-536	-364	-394	168	-281	-895	-937
Net Cash From Continuing Financing Activities	-244	-1,244	-1,854	-302	-536	-363	-396	167	-279	-894	-938
Repayment of Debt	-3.00	-9.00	-607	-396	-15	-24	-78	3.00	-240	312	-2,023
Repurchase of Common Equity	-615	-877	-877	-600	-138	-	-	-	0.00	-	-100
Payment of Dividends	-397	-370	-374	-388	-368	-344	-343	-358	-334	-322	-323
Issuance of Debt	805	-	-	1,084	0.00	-	-	500	318	-896	1,507
Other Financing Activities, net	-34	12	4.00	-2.00	-15	5.00	25	22	-23	12	1.00
Other Net Changes in Cash	-7.00	-	-	-	-	-	-	-	-	-	-

This table presents Eaton's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	38,381	38,432	35,014	34,027	31,824	32,805	31,092	32,623	30,476	30,996
Total Current Assets	11,801	11,675	8,746	7,511	9,178	8,728	7,590	8,337	7,033	6,616
Cash & Equivalents	555	488	294	297	438	370	283	561	543	268
Short-Term Investments	1,525	2,121	261	271	664	221	157	534	203	177
Accounts Receivable	4,619	4,475	4,076	3,297	2,904	3,437	3,858	3,943	3,560	3,479
Inventories, net	4,227	3,739	3,430	2,969	2,109	2,805	2,785	2,620	2,346	2,323
Prepaid Expenses	874	851	685	677	576	518	507	679	381	369
Plant, Property, & Equipment, net	3,729	3,530	3,146	3,064	2,964	3,496	3,467	3,502	3,443	3,565
Plant, Property & Equipment, gross	9,062	8,738	8,013	7,818	7,588	8,706	8,572	8,505	8,039	7,884
Accumulated Depreciation	5,333	5,208	4,867	4,754	4,624	5,210	5,105	5,003	4,596	4,319
Total Noncurrent Assets	22,852	23,226	23,121	23,452	19,682	20,581	20,035	20,784	20,000	20,815
Goodwill	14,713	14,977	14,796	14,751	12,903	13,456	13,328	13,568	13,201	13,479
Intangible Assets	4,658	5,091	5,485	5,855	4,175	4,638	4,846	5,265	5,514	6,014
Noncurrent Deferred & Refundable Income Taxes	609	458	330	392	426	372	293	253	325	362
Other Noncurrent Operating Assets	2,872	2,700	2,510	2,454	2,178	2,115	1,568	1,698	960	960
Total Liabilities & Shareholders' Equity	38,381	38,432	35,014	34,027	31,824	32,805	31,092	32,623	30,476	30,996
Total Liabilities	19,851	19,363	17,940	17,576	16,851	16,672	14,950	15,333	15,478	15,765
Total Current Liabilities	7,857	7,747	6,360	7,212	5,881	5,132	5,154	5,075	5,485	4,625
Short-Term Debt	674	1,025	334	1,748	1,048	503	753	584	1,566	668
Accounts Payable	3,678	3,365	3,072	2,797	1,987	2,114	2,130	2,166	1,718	1,758
Current Employee Benefit Liabilities	670	676	467	501	351	449	457	453	379	366
Other Current Liabilities	2,835	2,680	2,488	2,166	2,027	1,741	1,814	1,872	1,822	1,833
Total Noncurrent Liabilities	11,994	11,616	11,580	10,364	10,970	11,540	9,796	10,258	9,993	11,140
Long-Term Debt	8,478	8,244	8,321	6,831	7,010	7,819	6,768	7,167	6,711	7,746
Noncurrent Deferred & Payable Income Tax Liabilities	275	402	530	559	277	396	349	538	321	390
Noncurrent Employee Benefit Liabilities	905	948	826	1,135	1,918	1,790	1,625	1,588	2,027	2,026
Other Noncurrent Operating Liabilities	2,336	2,022	1,903	1,502	1,439	1,204	1,054	965	934	978
Total Equity & Noncontrolling Interests	18,531	19,069	17,075	16,451	14,973	16,133	16,142	17,290	14,998	15,231
Total Preferred & Common Equity	18,488	19,036	17,038	16,413	14,930	16,082	16,107	17,253	14,954	15,186
Total Common Equity	18,488	19,036	17,037	16,413	14,930	16,082	16,107	17,253	14,954	15,186
Common Stock	12,735	12,638	12,516	12,453	12,333	12,204	12,094	11,991	11,850	11,706
Retained Earnings	10,096	10,305	8,468	7,594	6,794	8,170	8,161	8,669	7,555	7,346
Accumulated Other Comprehensive Income / (Loss)	-4,342	-3,906	-3,946	-3,633	-4,195	-4,290	-4,145	-3,404	-4,448	-3,863
Other Equity Adjustments	-1.00	-1.00	-1.00	-1.00	-2.00	-2.00	-3.00	-3.00	-3.00	-3.00
Noncontrolling Interest	43	33	38	38	43	51	35	37	44	45

This table presents Eaton's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	39,206	38,381	39,236	39,381	38,535	38,432	37,289	36,772	35,517	35,014	34,364
Total Current Assets	12,434	11,801	12,152	12,652	11,853	11,675	10,983	10,303	9,138	8,746	8,540
Cash & Equivalents	1,777	555	473	540	473	488	348	353	235	294	231
Short-Term Investments	162	1,525	1,521	2,241	1,969	2,121	1,558	977	289	261	287
Accounts Receivable	5,094	4,619	4,886	4,861	4,674	4,475	4,460	4,399	4,239	4,076	3,816
Inventories, net	4,392	4,227	4,178	3,963	3,868	3,739	3,713	3,670	3,604	3,430	3,428
Prepaid Expenses	1,009	874	1,094	1,046	870	851	904	904	772	685	778
Plant, Property, & Equipment, net	3,765	3,729	3,711	3,604	3,558	3,530	3,341	3,267	3,206	3,146	2,967
Plant, Property & Equipment, gross	9,158	9,062	9,106	8,852	8,792	8,738	8,403	8,337	8,195	8,013	7,670
Accumulated Depreciation	5,394	5,333	5,395	5,248	5,234	5,208	5,062	5,071	4,989	4,867	4,702
Total Noncurrent Assets	23,007	22,852	23,373	23,126	23,125	23,226	22,964	23,203	23,174	23,121	22,858
Goodwill	14,851	14,713	15,044	14,849	14,877	14,977	14,781	14,914	14,894	14,796	14,479
Intangible Assets	4,586	4,658	4,809	4,883	4,975	5,091	5,158	5,285	5,386	5,485	5,492
Noncurrent Deferred & Refundable Income Taxes	609	609	549	499	481	458	349	354	340	330	386
Other Noncurrent Operating Assets	2,961	2,872	2,971	2,895	2,792	2,700	2,676	2,650	2,554	2,510	2,501
Total Liabilities & Shareholders' Equity	39,206	38,381	39,236	39,381	38,535	38,432	37,289	36,772	35,517	35,014	34,364
Total Liabilities	20,658	19,851	20,073	20,128	19,210	19,363	18,869	18,785	18,033	17,940	18,261
Total Current Liabilities	9,522	7,857	7,941	8,120	7,613	7,747	7,563	6,725	6,087	6,360	6,653
Short-Term Debt	2,471	674	717	1,282	995	1,025	999	496	95	334	926
Accounts Payable	3,654	3,678	3,609	3,497	3,400	3,365	3,255	3,192	3,118	3,072	2,937
Current Employee Benefit Liabilities	489	670	687	529	492	676	592	465	350	467	432
Other Current Liabilities	2,908	2,835	2,928	2,812	2,726	2,680	2,716	2,571	2,524	2,488	2,358
Total Noncurrent Liabilities	11,136	11,994	12,132	12,008	11,597	11,616	11,306	12,060	11,946	11,580	11,608
Long-Term Debt	7,609	8,478	8,678	8,555	8,192	8,244	8,150	8,804	8,701	8,321	8,082
Noncurrent Deferred & Payable Income Tax Liabilities	267	275	387	429	419	402	460	531	537	530	527
Noncurrent Employee Benefit Liabilities	895	905	883	884	907	948	781	815	825	826	1,063
Other Noncurrent Operating Liabilities	2,365	2,336	2,184	2,140	2,079	2,022	1,915	1,910	1,883	1,903	1,489
Total Equity & Noncontrolling Interests	18,547	18,531	19,162	19,254	19,326	19,069	18,420	17,988	17,485	17,075	16,103
Total Preferred & Common Equity	18,506	18,488	19,117	19,219	19,292	19,036	18,383	17,953	17,449	17,038	16,068
Total Common Equity	18,505	18,488	19,116	19,218	19,292	19,036	18,383	17,953	17,449	17,037	16,068
Common Stock	12,715	12,735	12,698	12,666	12,634	12,638	12,608	12,558	12,506	12,516	12,482
Retained Earnings	10,041	10,096	10,366	10,622	10,605	10,305	9,703	9,156	8,757	8,468	8,070
Accumulated Other Comprehensive Income / (Loss)	-4,250	-4,342	-3,947	-4,069	-3,946	-3,906	-3,927	-3,760	-3,814	-3,946	-4,483
Other Equity Adjustments	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	-1.00	0.00	-1.00	-1.00
Noncontrolling Interest	41	43	45	35	34	33	36	36	36	38	35

This table displays calculated financial ratios and metrics derived from Eaton's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.25%	11.78%	5.73%	9.91%	-16.51%	-1.01%	5.91%	3.33%	-5.31%	-7.52%
EBITDA Growth	14.54%	22.32%	1.19%	46.42%	-26.35%	2.48%	-20.83%	38.05%	-0.30%	10.74%
EBIT Growth	18.05%	30.21%	0.49%	60.42%	-32.08%	4.03%	-25.79%	53.72%	-0.59%	18.96%
NOPAT Growth	17.76%	28.96%	39.01%	23.47%	-39.55%	2.64%	5.88%	7.98%	-3.36%	16.68%
Net Income Growth	17.84%	30.75%	14.86%	51.66%	-36.06%	3.12%	-28.13%	55.60%	-2.79%	9.48%
EPS Growth	18.45%	30.62%	14.98%	53.01%	-33.52%	6.92%	-26.50%	59.05%	-0.47%	12.23%
Operating Cash Flow Growth	19.40%	43.07%	17.11%	-26.53%	-14.69%	29.83%	-0.30%	3.74%	6.68%	28.27%
Free Cash Flow Firm Growth	46.51%	25.49%	179.05%	-162.43%	73.65%	-18.68%	272.73%	-69.76%	-1.73%	3.67%
Invested Capital Growth	-0.49%	2.21%	1.50%	22.55%	-12.56%	-0.34%	-3.02%	6.29%	-2.89%	-2.71%
Revenue Q/Q Growth	1.11%	2.58%	2.91%	0.57%	-2.99%	-1.02%	1.15%	1.73%	-0.95%	-2.38%
EBITDA Q/Q Growth	1.74%	4.52%	6.34%	2.54%	0.26%	-5.46%	-21.88%	34.72%	0.18%	-2.08%
EBIT Q/Q Growth	2.02%	5.83%	8.49%	2.29%	0.80%	-6.84%	-27.12%	47.69%	0.43%	-2.59%
NOPAT Q/Q Growth	2.14%	6.37%	6.87%	3.35%	-2.35%	-4.52%	-0.21%	5.73%	-1.83%	-2.73%
Net Income Q/Q Growth	0.64%	7.47%	7.50%	3.62%	1.65%	-7.48%	-0.09%	4.63%	-1.29%	-2.85%
EPS Q/Q Growth	1.06%	7.51%	7.34%	3.69%	2.95%	-6.91%	0.82%	5.20%	-0.71%	-2.09%
Operating Cash Flow Q/Q Growth	7.42%	3.19%	18.25%	-6.40%	0.20%	3.51%	-2.17%	9.94%	-5.24%	-6.37%
Free Cash Flow Firm Q/Q Growth	38.57%	10.67%	23.58%	-2.54%	-11.51%	-5.28%	17.97%	-45.37%	11.60%	-16.44%
Invested Capital Q/Q Growth	-3.62%	0.25%	0.52%	1.56%	1.27%	-1.20%	-1.30%	0.72%	-2.77%	-1.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.20%	36.36%	33.19%	32.28%	30.52%	32.97%	32.85%	32.58%	32.16%	31.41%
EBITDA Margin	22.58%	21.14%	19.32%	20.19%	15.15%	17.18%	16.59%	22.19%	16.61%	15.78%
Operating Margin	18.62%	16.75%	14.43%	12.55%	10.21%	13.38%	12.45%	12.44%	11.65%	11.17%
EBIT Margin	18.88%	17.15%	14.72%	15.49%	10.61%	13.04%	12.41%	17.71%	11.91%	11.34%
Profit (Net Income) Margin	15.27%	13.89%	11.88%	10.93%	7.92%	10.35%	9.93%	14.63%	9.72%	9.47%
Tax Burden Percent	83.18%	84.22%	84.68%	74.10%	81.04%	85.41%	88.53%	88.66%	90.60%	92.55%
Interest Burden Percent	97.23%	96.20%	95.29%	95.26%	92.14%	92.87%	90.38%	93.19%	90.09%	90.19%
Effective Tax Rate	16.82%	15.78%	15.29%	25.90%	18.96%	14.59%	11.47%	11.34%	9.40%	7.45%
Return on Invested Capital (ROIC)	15.01%	12.86%	10.15%	8.11%	6.82%	10.55%	10.10%	9.68%	9.11%	9.17%
ROIC Less NNEP Spread (ROIC-NNEP)	14.21%	12.19%	9.28%	12.82%	5.79%	7.25%	6.66%	20.06%	6.99%	6.88%
Return on Net Nonoperating Assets (RNNOA)	5.19%	4.98%	4.55%	5.55%	2.28%	3.17%	2.74%	8.81%	3.58%	3.54%
Return on Equity (ROE)	20.20%	17.83%	14.71%	13.66%	9.10%	13.71%	12.84%	18.50%	12.70%	12.71%
Cash Return on Invested Capital (CROIC)	15.50%	10.67%	8.66%	-12.16%	20.22%	10.89%	13.17%	3.59%	12.05%	11.92%
Operating Return on Assets (OROA)	12.23%	10.83%	8.85%	9.23%	5.86%	8.73%	8.42%	11.46%	7.65%	7.33%
Return on Assets (ROA)	9.89%	8.78%	7.14%	6.52%	4.38%	6.93%	6.74%	9.46%	6.24%	6.12%
Return on Common Equity (ROCE)	20.16%	17.80%	14.67%	13.62%	9.07%	13.68%	12.81%	18.45%	12.66%	12.67%
Return on Equity Simple (ROE_SIMPLE)	20.54%	16.93%	14.47%	13.08%	9.48%	13.76%	13.32%	17.31%	12.83%	13.00%
Net Operating Profit after Tax (NOPAT)	3,853	3,272	2,537	1,825	1,478	2,445	2,382	2,250	2,084	2,156
NOPAT Margin	15.49%	14.11%	12.23%	9.30%	8.28%	11.43%	11.02%	11.03%	10.55%	10.34%
Net Nonoperating Expense Percent (NNEP)	0.80%	0.66%	0.88%	-4.71%	1.03%	3.30%	3.44%	-10.37%	2.13%	2.28%
Return On Investment Capital (ROIC_SIMPLE)	13.92%	11.55%	9.86%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	61.80%	63.64%	66.81%	67.72%	69.48%	67.03%	67.15%	67.42%	67.84%	68.59%
SG&A Expenses to Revenue	16.39%	16.36%	15.55%	16.59%	17.22%	16.75%	16.42%	17.28%	17.54%	17.24%
R&D to Revenue	3.19%	3.25%	3.20%	3.14%	3.09%	2.83%	2.70%	2.86%	2.97%	3.00%
Operating Expenses to Revenue	19.58%	19.61%	18.75%	19.73%	20.30%	19.58%	20.39%	20.14%	20.51%	20.24%
Earnings before Interest and Taxes (EBIT)	4,696	3,978	3,055	3,040	1,895	2,790	2,682	3,614	2,351	2,365
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,617	4,904	4,009	3,962	2,706	3,674	3,585	4,528	3,280	3,290
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.09	4.99	3.55	4.00	2.99	2.18	1.60	1.69	1.64	1.24
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.27	4.09	2.92	3.34	2.50	1.64	1.19	1.43	1.24	0.90
Price to Earnings (P/E)	34.57	29.52	24.60	30.59	31.70	15.86	12.01	9.75	12.81	9.53
Dividend Yield	1.13%	1.45%	2.13%	1.85%	3.25%	3.35%	4.44%	3.63%	4.19%	5.42%
Earnings Yield	2.89%	3.39%	4.07%	3.27%	3.15%	6.30%	8.33%	10.26%	7.80%	10.49%
Enterprise Value to Invested Capital (EV/IC)	5.40	3.95	2.73	2.98	2.57	1.87	1.42	1.50	1.43	1.16
Enterprise Value to Revenue (EV/Rev)	5.56	4.38	3.31	3.77	2.91	2.02	1.52	1.75	1.63	1.29
Enterprise Value to EBITDA (EV/EBITDA)	24.62	20.73	17.14	18.67	19.23	11.75	9.17	7.91	9.79	8.15
Enterprise Value to EBIT (EV/EBIT)	29.44	25.56	22.49	24.33	27.45	15.48	12.26	9.91	13.67	11.34
Enterprise Value to NOPAT (EV/NOPAT)	35.89	31.08	27.08	40.52	35.19	17.66	13.80	15.91	15.42	12.43
Enterprise Value to Operating Cash Flow (EV/OCF)	31.96	28.06	27.12	34.19	17.67	12.51	12.37	13.43	12.50	11.13
Enterprise Value to Free Cash Flow (EV/FCFF)	34.75	37.44	31.74	0.00	11.86	17.10	10.59	42.97	11.66	9.56
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.49	0.51	0.54	0.56	0.54	0.47	0.45	0.55	0.55
Long-Term Debt to Equity	0.46	0.43	0.49	0.44	0.49	0.51	0.42	0.41	0.45	0.51
Financial Leverage	0.37	0.41	0.49	0.43	0.39	0.44	0.41	0.44	0.51	0.51
Leverage Ratio	2.04	2.03	2.06	2.10	2.08	1.98	1.91	1.95	2.03	2.08
Compound Leverage Factor	1.99	1.95	1.96	2.00	1.91	1.84	1.72	1.82	1.83	1.87
Debt to Total Capital	33.06%	32.71%	33.64%	35.15%	35.90%	34.91%	31.78%	30.95%	35.56%	35.58%
Short-Term Debt to Total Capital	2.43%	3.62%	1.30%	6.89%	4.49%	2.03%	3.18%	2.33%	6.73%	2.83%
Long-Term Debt to Total Capital	30.63%	29.09%	32.34%	28.26%	31.41%	32.88%	28.60%	28.62%	28.83%	32.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.16%	0.12%	0.15%	0.15%	0.18%	0.21%	0.15%	0.15%	0.19%	0.19%
Common Equity to Total Capital	66.78%	67.17%	66.21%	64.70%	63.92%	64.88%	68.07%	68.90%	64.25%	64.23%
Debt to EBITDA	1.63	1.89	2.16	2.25	3.10	2.36	2.10	1.71	2.52	2.56
Net Debt to EBITDA	1.26	1.36	2.02	2.11	2.69	2.19	1.98	1.47	2.30	2.42
Long-Term Debt to EBITDA	1.51	1.68	2.08	1.81	2.71	2.22	1.89	1.58	2.05	2.35
Debt to NOPAT	2.38	2.83	3.41	4.89	5.67	3.54	3.16	3.44	3.97	3.90
Net Debt to NOPAT	1.84	2.04	3.19	4.57	4.93	3.30	2.97	2.96	3.61	3.70
Long-Term Debt to NOPAT	2.20	2.52	3.28	3.93	4.96	3.33	2.84	3.19	3.22	3.59
Altman Z-Score	5.51	4.39	3.33	3.43	2.77	2.68	2.47	2.62	2.26	2.05
Noncontrolling Interest Sharing Ratio	0.20%	0.20%	0.23%	0.26%	0.30%	0.27%	0.22%	0.25%	0.29%	0.32%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.50	1.51	1.38	1.04	1.56	1.70	1.47	1.64	1.28	1.43
Quick Ratio	0.85	0.91	0.73	0.54	0.68	0.78	0.83	0.99	0.79	0.85
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	3,979	2,716	2,164	-2,738	4,385	2,525	3,105	833	2,755	2,803
Operating Cash Flow to CapEx	598.48%	532.16%	582.30%	407.34%	780.90%	587.90%	470.44%	512.69%	517.10%	476.09%
Free Cash Flow to Firm to Interest Expense	30.61	17.99	15.03	-19.01	29.43	12.69	12.04	3.39	11.82	12.08
Operating Cash Flow to Interest Expense	33.28	24.00	17.59	15.02	19.76	17.34	10.30	10.84	11.03	10.38
Operating Cash Flow Less CapEx to Interest Expense	27.72	19.49	14.57	11.33	17.23	14.39	8.11	8.72	8.90	8.20
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.63	0.60	0.60	0.55	0.67	0.68	0.65	0.64	0.65
Accounts Receivable Turnover	5.47	5.43	5.63	6.33	5.63	5.86	5.54	5.44	5.61	5.84
Inventory Turnover	3.86	4.12	4.33	5.24	5.05	5.13	5.37	5.54	5.74	6.02
Fixed Asset Turnover	6.85	6.95	6.68	6.51	5.53	6.14	6.20	5.88	5.64	5.70
Accounts Payable Turnover	4.37	4.59	4.72	5.56	6.05	6.76	6.76	7.08	7.71	7.74
Days Sales Outstanding (DSO)	66.71	67.28	64.84	57.66	64.80	62.24	65.88	67.11	65.05	62.53
Days Inventory Outstanding (DIO)	94.56	88.63	84.23	69.72	72.28	71.15	67.98	65.88	63.61	60.62
Days Payable Outstanding (DPO)	83.60	79.58	77.25	65.68	60.32	54.02	54.03	51.53	47.36	47.18
Cash Conversion Cycle (CCC)	77.67	76.33	71.82	61.69	76.76	79.37	79.83	81.46	81.31	75.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	25,602	25,728	25,172	24,799	20,236	23,143	23,223	23,946	22,529	23,200
Invested Capital Turnover	0.97	0.91	0.83	0.87	0.82	0.92	0.92	0.88	0.86	0.89
Increase / (Decrease) in Invested Capital	-126	556	373	4,563	-2,907	-80	-723	1,417	-671	-647
Enterprise Value (EV)	138,270	101,679	68,695	73,961	52,025	43,187	32,872	35,801	32,127	26,812
Market Capitalization	131,155	94,986	60,557	65,575	44,700	35,074	25,756	29,108	24,552	18,798
Book Value per Share	$46.78	$47.67	$42.84	$41.18	$37.46	$38.90	$37.16	$39.16	$33.11	$32.81
Tangible Book Value per Share	($2.23)	($2.58)	($8.16)	($10.52)	($5.39)	($4.87)	($4.77)	($3.59)	($8.33)	($9.31)
Total Capital	27,683	28,338	25,730	25,367	23,357	24,786	23,663	25,041	23,275	23,645
Total Debt	9,152	9,269	8,655	8,916	8,384	8,653	7,521	7,751	8,277	8,414
Total Long-Term Debt	8,478	8,244	8,321	7,168	7,336	8,150	6,768	7,167	6,711	7,746
Net Debt	7,072	6,660	8,100	8,348	7,282	8,062	7,081	6,656	7,531	7,969
Capital Expenditures (CapEx)	723	681	435	531	377	587	565	520	497	506
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,538	2,344	2,165	1,479	3,243	3,508	2,749	2,751	2,368	2,214
Debt-free Net Working Capital (DFNWC)	4,618	4,953	2,720	2,047	4,345	4,099	3,189	3,846	3,114	2,659
Net Working Capital (NWC)	3,944	3,928	2,386	299	3,297	3,596	2,436	3,262	1,548	1,991
Net Nonoperating Expense (NNE)	55	49	72	-321	63	232	236	-736	165	182
Net Nonoperating Obligations (NNO)	7,071	6,659	8,097	8,348	5,263	7,010	7,081	6,656	7,531	7,969
Total Depreciation and Amortization (D&A)	921	926	954	922	811	884	903	914	929	925
Debt-free, Cash-free Net Working Capital to Revenue	10.20%	10.11%	10.43%	7.54%	18.16%	16.40%	12.72%	13.48%	11.99%	10.62%
Debt-free Net Working Capital to Revenue	18.56%	21.35%	13.11%	10.43%	24.33%	19.16%	14.76%	18.85%	15.77%	12.75%
Net Working Capital to Revenue	15.85%	16.93%	11.50%	1.52%	18.46%	16.81%	11.27%	15.99%	7.84%	9.55%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$9.54	$8.06	$6.17	$5.38	$3.51	$5.28	$4.93	$0.00	$4.22	$4.25
Adjusted Weighted Average Basic Shares Outstanding	397.60M	399.10M	398.70M	398.70M	402.20M	419M	434.30M	0.00	455M	465.50M
Adjusted Diluted Earnings per Share	$9.50	$8.02	$6.14	$5.34	$3.49	$5.25	$4.91	$0.00	$4.21	$4.23
Adjusted Weighted Average Diluted Shares Outstanding	399.40M	401.10M	400.80M	401.60M	404M	420.80M	436.90M	0.00	456.50M	467.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$6.17	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	392M	399.50M	398M	398.80M	398.10M	413.40M	423.60M	0.00	449.70M	458.90M
Normalized Net Operating Profit after Tax (NOPAT)	3,853	3,272	2,537	1,825	1,478	2,445	2,626	2,250	2,084	2,156
Normalized NOPAT Margin	15.49%	14.11%	12.23%	9.30%	8.28%	11.43%	12.15%	11.03%	10.55%	10.34%
Pre Tax Income Margin	18.35%	16.50%	14.03%	14.75%	9.78%	12.11%	11.22%	16.51%	10.73%	10.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	36.12	26.34	21.22	21.11	12.72	14.02	10.40	14.69	10.09	10.19
NOPAT to Interest Expense	29.64	21.67	17.62	12.67	9.92	12.29	9.23	9.15	8.94	9.29
EBIT Less CapEx to Interest Expense	30.56	21.83	18.19	17.42	10.19	11.07	8.21	12.58	7.96	8.01
NOPAT Less CapEx to Interest Expense	24.08	17.16	14.60	8.99	7.39	9.34	7.04	7.03	6.81	7.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.49%	42.79%	52.70%	56.80%	83.04%	54.27%	53.54%	35.77%	54.04%	51.98%
Augmented Payout Ratio	105.11%	42.79%	64.30%	62.49%	196.68%	100.77%	112.77%	64.23%	92.08%	86.52%

This table displays calculated financial ratios and metrics derived from Eaton's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.30%	4.58%	7.91%	8.25%	8.39%	10.83%	10.67%	12.55%	13.21%	12.21%	7.92%
EBITDA Growth	14.90%	7.13%	9.47%	24.42%	19.52%	18.69%	35.05%	18.24%	17.32%	26.70%	-28.92%
EBIT Growth	17.48%	8.34%	10.88%	30.46%	26.85%	24.44%	47.09%	24.87%	24.73%	36.38%	-34.26%
NOPAT Growth	19.43%	8.63%	16.04%	26.44%	22.74%	26.19%	31.36%	32.24%	26.02%	27.98%	96.76%
Net Income Growth	17.40%	2.53%	13.34%	33.42%	28.64%	30.98%	46.71%	23.96%	19.89%	31.22%	-3.49%
EPS Growth	20.10%	4.26%	13.96%	33.33%	28.30%	31.28%	46.05%	24.00%	19.55%	30.66%	-3.18%
Operating Cash Flow Growth	-49.89%	23.04%	14.72%	11.29%	41.79%	9.44%	18.24%	150.00%	697.62%	49.18%	104.88%
Free Cash Flow Firm Growth	-27.97%	199.58%	-54.43%	-8.74%	-49.64%	3.17%	476.48%	301.37%	127.35%	109.31%	101.08%
Invested Capital Growth	2.37%	-0.49%	3.51%	1.35%	1.22%	2.21%	2.48%	0.31%	-1.31%	1.50%	2.55%
Revenue Q/Q Growth	2.20%	-1.65%	-0.08%	6.85%	-0.40%	1.48%	0.24%	6.99%	1.84%	1.34%	1.94%
EBITDA Q/Q Growth	0.00%	-1.77%	1.10%	15.70%	-6.76%	0.37%	14.91%	11.14%	-7.41%	14.20%	0.61%
EBIT Q/Q Growth	0.17%	-2.03%	0.65%	18.93%	-7.62%	0.27%	18.42%	15.64%	-9.38%	18.52%	0.53%
NOPAT Q/Q Growth	-3.40%	0.24%	2.47%	20.36%	-12.13%	7.08%	11.66%	16.84%	-9.66%	11.46%	12.41%
Net Income Q/Q Growth	-0.62%	-3.96%	1.71%	20.92%	-13.20%	6.17%	19.73%	16.59%	-11.62%	18.91%	1.16%
EPS Q/Q Growth	0.00%	-3.16%	2.02%	21.57%	-13.19%	5.86%	19.35%	16.98%	-11.17%	17.76%	1.33%
Operating Cash Flow Q/Q Growth	-85.10%	22.00%	38.37%	99.16%	-63.41%	13.76%	34.24%	153.73%	-71.75%	22.90%	183.82%
Free Cash Flow Firm Q/Q Growth	-67.90%	888.37%	-81.96%	25.83%	33.53%	50.34%	-63.87%	-30.57%	173.57%	740.03%	112.62%
Invested Capital Q/Q Growth	4.25%	-3.62%	0.97%	0.91%	1.34%	0.25%	-1.14%	0.78%	2.33%	0.52%	-3.23%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.37%	38.93%	38.55%	37.95%	37.32%	37.46%	37.35%	36.12%	34.36%	34.14%	33.28%
EBITDA Margin	22.61%	23.11%	23.14%	22.87%	21.12%	22.56%	22.81%	19.89%	19.15%	21.06%	18.69%
Operating Margin	18.83%	19.62%	19.09%	18.79%	16.89%	18.07%	18.03%	16.13%	14.61%	16.25%	14.87%
EBIT Margin	18.97%	19.36%	19.43%	19.29%	17.33%	18.69%	18.91%	16.01%	14.81%	16.64%	14.23%
Profit (Net Income) Margin	15.13%	15.56%	15.93%	15.65%	13.83%	15.87%	15.17%	12.70%	11.65%	13.43%	11.44%
Tax Burden Percent	81.99%	83.28%	83.97%	83.18%	82.12%	87.04%	82.67%	82.96%	83.86%	84.86%	84.44%
Interest Burden Percent	97.27%	96.52%	97.65%	97.55%	97.18%	97.58%	97.03%	95.63%	93.84%	95.09%	95.24%
Effective Tax Rate	18.01%	16.72%	16.03%	16.82%	17.88%	12.96%	17.33%	17.04%	16.14%	15.02%	15.56%
Return on Invested Capital (ROIC)	14.82%	15.83%	15.10%	14.44%	12.66%	14.33%	13.29%	11.38%	10.11%	11.47%	10.24%
ROIC Less NNEP Spread (ROIC-NNEP)	14.55%	15.13%	15.02%	14.46%	12.63%	14.45%	13.49%	10.92%	9.74%	11.22%	9.56%
Return on Net Nonoperating Assets (RNNOA)	5.72%	5.53%	5.85%	5.83%	5.15%	5.90%	6.32%	5.54%	5.05%	5.50%	5.16%
Return on Equity (ROE)	20.54%	21.36%	20.95%	20.27%	17.82%	20.23%	19.61%	16.92%	15.16%	16.97%	15.40%
Cash Return on Invested Capital (CROIC)	12.87%	15.50%	11.00%	12.56%	12.00%	10.67%	9.68%	10.75%	11.64%	8.66%	7.08%
Operating Return on Assets (OROA)	12.36%	12.54%	12.50%	12.23%	11.07%	11.80%	11.94%	9.81%	8.96%	10.00%	8.38%
Return on Assets (ROA)	9.85%	10.08%	10.25%	9.92%	8.84%	10.02%	9.58%	7.79%	7.05%	8.07%	6.74%
Return on Common Equity (ROCE)	20.49%	21.32%	20.91%	20.23%	17.78%	20.19%	19.57%	16.88%	15.13%	16.94%	15.36%
Return on Equity Simple (ROE_SIMPLE)	21.30%	0.00%	19.74%	19.02%	17.66%	0.00%	16.31%	15.12%	14.73%	0.00%	14.27%
Net Operating Profit after Tax (NOPAT)	985	1,019	1,017	992	824	938	876	785	672	744	667
NOPAT Margin	15.44%	16.33%	16.03%	15.63%	13.87%	15.72%	14.90%	13.38%	12.25%	13.81%	12.56%
Net Nonoperating Expense Percent (NNEP)	0.26%	0.70%	0.08%	-0.02%	0.03%	-0.12%	-0.19%	0.46%	0.37%	0.25%	0.68%
Return On Investment Capital (ROIC_SIMPLE)	3.44%	3.68%	-	-	-	3.31%	-	-	-	2.89%	-
Cost of Revenue to Revenue	61.63%	61.07%	61.45%	62.05%	62.68%	62.54%	62.65%	63.88%	65.64%	65.86%	66.72%
SG&A Expenses to Revenue	16.43%	16.07%	16.20%	16.08%	17.25%	16.02%	16.14%	16.81%	16.49%	14.78%	15.30%
R&D to Revenue	3.10%	3.24%	3.26%	3.09%	3.18%	3.37%	3.18%	3.19%	3.26%	3.10%	3.11%
Operating Expenses to Revenue	19.54%	19.31%	19.46%	19.17%	20.43%	19.39%	19.32%	20.00%	19.75%	17.89%	18.41%
Earnings before Interest and Taxes (EBIT)	1,210	1,208	1,233	1,225	1,030	1,115	1,112	939	812	896	756
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,442	1,442	1,468	1,452	1,255	1,346	1,341	1,167	1,050	1,134	993
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.76	7.09	6.90	6.50	6.43	4.99	4.57	4.39	3.82	3.55	3.20
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.21	5.27	5.36	5.18	5.25	4.09	3.71	3.57	3.12	2.92	2.55
Price to Earnings (P/E)	27.07	34.57	35.02	34.23	36.50	29.52	28.03	29.06	25.96	24.60	22.44
Dividend Yield	1.42%	1.13%	1.11%	1.15%	1.13%	1.45%	1.61%	1.69%	1.96%	2.13%	2.47%
Earnings Yield	3.69%	2.89%	2.86%	2.92%	2.74%	3.39%	3.57%	3.44%	3.85%	4.07%	4.46%
Enterprise Value to Invested Capital (EV/IC)	4.30	5.40	5.25	5.02	5.02	3.95	3.56	3.34	2.91	2.73	2.41
Enterprise Value to Revenue (EV/Rev)	4.53	5.56	5.67	5.47	5.53	4.38	4.03	3.94	3.51	3.31	2.99
Enterprise Value to EBITDA (EV/EBITDA)	19.77	24.62	25.25	24.48	25.62	20.73	19.45	19.98	18.01	17.14	16.02
Enterprise Value to EBIT (EV/EBIT)	23.53	29.44	30.28	29.46	31.20	25.56	24.27	25.50	23.32	22.49	21.44
Enterprise Value to NOPAT (EV/NOPAT)	28.59	35.89	36.95	36.36	38.23	31.08	29.66	30.27	28.02	27.08	25.43
Enterprise Value to Operating Cash Flow (EV/OCF)	28.05	31.96	34.61	34.20	34.78	28.06	25.98	26.01	26.53	27.12	28.19
Enterprise Value to Free Cash Flow (EV/FCFF)	33.78	34.75	48.55	40.23	42.09	37.44	37.18	31.15	24.85	31.74	34.48
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.54	0.49	0.49	0.51	0.48	0.49	0.50	0.52	0.50	0.51	0.59
Long-Term Debt to Equity	0.41	0.46	0.45	0.44	0.42	0.43	0.44	0.49	0.50	0.49	0.53
Financial Leverage	0.39	0.37	0.39	0.40	0.41	0.41	0.47	0.51	0.52	0.49	0.54
Leverage Ratio	2.05	2.04	2.04	2.04	2.01	2.03	2.08	2.09	2.07	2.06	2.13
Compound Leverage Factor	2.00	1.97	1.99	1.99	1.96	1.98	2.01	2.00	1.94	1.96	2.03
Debt to Total Capital	35.21%	33.06%	32.90%	33.81%	32.22%	32.71%	33.19%	34.08%	33.47%	33.64%	36.99%
Short-Term Debt to Total Capital	8.63%	2.43%	2.51%	4.41%	3.49%	3.62%	3.62%	1.82%	0.36%	1.30%	3.62%
Long-Term Debt to Total Capital	26.58%	30.63%	30.39%	29.41%	28.73%	29.09%	29.56%	32.26%	33.11%	32.34%	33.37%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.14%	0.16%	0.16%	0.12%	0.12%	0.12%	0.13%	0.13%	0.14%	0.15%	0.14%
Common Equity to Total Capital	64.64%	66.78%	66.94%	66.06%	67.66%	67.17%	66.68%	65.79%	66.39%	66.21%	62.87%
Debt to EBITDA	1.74	1.63	1.70	1.82	1.80	1.89	1.95	2.14	2.11	2.16	2.51
Net Debt to EBITDA	1.40	1.26	1.34	1.31	1.32	1.36	1.54	1.83	1.99	2.02	2.37
Long-Term Debt to EBITDA	1.31	1.51	1.57	1.59	1.60	1.68	1.74	2.03	2.09	2.08	2.26
Debt to NOPAT	2.51	2.38	2.49	2.71	2.68	2.83	2.97	3.24	3.29	3.41	3.98
Net Debt to NOPAT	2.03	1.84	1.96	1.94	1.97	2.04	2.35	2.78	3.09	3.19	3.76
Long-Term Debt to NOPAT	1.90	2.20	2.30	2.36	2.39	2.52	2.65	3.07	3.25	3.28	3.59
Altman Z-Score	4.29	5.21	5.17	4.96	5.10	4.14	3.85	3.67	3.34	3.12	2.74
Noncontrolling Interest Sharing Ratio	0.20%	0.20%	0.22%	0.19%	0.19%	0.20%	0.21%	0.21%	0.21%	0.23%	0.24%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.31	1.50	1.53	1.56	1.56	1.51	1.45	1.53	1.50	1.38	1.28
Quick Ratio	0.74	0.85	0.87	0.94	0.93	0.91	0.84	0.85	0.78	0.73	0.65
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	368	1,145	116	642	510	382	254	704	1,014	371	44
Operating Cash Flow to CapEx	242.86%	628.74%	743.75%	563.10%	380.00%	587.33%	655.75%	521.47%	272.36%	559.43%	1,581.97%
Free Cash Flow to Firm to Interest Expense	11.14	27.27	4.00	22.15	17.02	14.70	7.71	16.76	20.27	8.42	1.19
Operating Cash Flow to Interest Expense	7.21	38.02	45.14	32.62	15.83	49.92	34.58	20.24	6.70	26.95	26.08
Operating Cash Flow Less CapEx to Interest Expense	4.24	31.98	39.07	26.83	11.67	41.42	29.30	16.36	4.24	22.14	24.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.65	0.64	0.63	0.64	0.63	0.63	0.61	0.60	0.60	0.59
Accounts Receivable Turnover	5.18	5.47	5.27	5.21	5.31	5.43	5.46	5.35	5.41	5.63	5.59
Inventory Turnover	3.77	3.86	3.88	3.95	3.99	4.12	4.08	4.06	4.10	4.33	4.35
Fixed Asset Turnover	6.91	6.85	6.98	7.03	6.99	6.95	7.17	6.99	6.79	6.68	6.73
Accounts Payable Turnover	4.42	4.37	4.46	4.51	4.57	4.59	4.71	4.65	4.74	4.72	4.90
Days Sales Outstanding (DSO)	70.43	66.71	69.32	70.01	68.76	67.28	66.79	68.18	67.45	64.84	65.24
Days Inventory Outstanding (DIO)	96.76	94.56	94.15	92.37	91.59	88.63	89.41	89.94	88.98	84.23	83.94
Days Payable Outstanding (DPO)	82.63	83.60	81.90	80.95	79.90	79.58	77.53	78.44	76.95	77.25	74.48
Cash Conversion Cycle (CCC)	84.55	77.67	81.57	81.43	80.46	76.33	78.67	79.68	79.48	71.82	74.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	26,689	25,602	26,564	26,309	26,072	25,728	25,663	25,959	25,758	25,172	25,041
Invested Capital Turnover	0.96	0.97	0.94	0.92	0.91	0.91	0.89	0.85	0.83	0.83	0.82
Increase / (Decrease) in Invested Capital	617	-126	901	350	314	556	622	81	-342	373	623
Enterprise Value (EV)	114,739	138,270	139,392	132,028	130,904	101,679	91,240	86,780	74,981	68,695	60,385
Market Capitalization	106,557	131,155	131,946	124,937	124,125	94,986	83,961	78,774	66,673	60,557	51,413
Book Value per Share	$47.21	$46.78	$48.02	$48.07	$48.29	$47.67	$46.07	$45.04	$43.84	$42.84	$40.34
Tangible Book Value per Share	($2.38)	($2.23)	($1.85)	($1.29)	($1.40)	($2.58)	($3.90)	($5.63)	($7.11)	($8.16)	($9.80)
Total Capital	28,627	27,683	28,557	29,091	28,513	28,338	27,569	27,288	26,281	25,730	25,558
Total Debt	10,080	9,152	9,395	9,837	9,187	9,269	9,149	9,300	8,796	8,655	9,455
Total Long-Term Debt	7,609	8,478	8,678	8,555	8,192	8,244	8,150	8,804	8,701	8,321	8,529
Net Debt	8,141	7,072	7,401	7,056	6,745	6,660	7,243	7,970	8,272	8,100	8,937
Capital Expenditures (CapEx)	98	254	176	168	125	221	174	163	123	212	61
Debt-free, Cash-free Net Working Capital (DFCFNWC)	3,444	2,538	2,934	3,033	2,793	2,344	2,513	2,744	2,622	2,165	2,295
Debt-free Net Working Capital (DFNWC)	5,383	4,618	4,928	5,814	5,235	4,953	4,419	4,074	3,146	2,720	2,813
Net Working Capital (NWC)	2,912	3,944	4,211	4,532	4,240	3,928	3,420	3,578	3,051	2,386	1,887
Net Nonoperating Expense (NNE)	20	48	5.88	-1.66	2.46	-8.70	-16	40	33	21	59
Net Nonoperating Obligations (NNO)	8,142	7,071	7,402	7,055	6,746	6,659	7,243	7,971	8,273	8,097	8,938
Total Depreciation and Amortization (D&A)	232	234	235	227	225	231	229	228	238	238	237
Debt-free, Cash-free Net Working Capital to Revenue	13.61%	10.20%	11.92%	12.56%	11.81%	10.11%	11.11%	12.45%	12.26%	10.43%	11.38%
Debt-free Net Working Capital to Revenue	21.27%	18.56%	20.03%	24.08%	22.13%	21.35%	19.54%	18.48%	14.71%	13.11%	13.95%
Net Working Capital to Revenue	11.50%	15.85%	17.11%	18.77%	17.92%	16.93%	15.12%	16.23%	14.26%	11.50%	9.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.46	$2.46	$2.54	$2.49	$2.05	$2.37	$2.23	$1.86	$1.60	$1.81	$1.52
Adjusted Weighted Average Basic Shares Outstanding	392.20M	397.60M	397.10M	399.20M	399.90M	399.10M	399.40M	398.90M	398.50M	398.70M	398.40M
Adjusted Diluted Earnings per Share	$2.45	$2.45	$2.53	$2.48	$2.04	$2.35	$2.22	$1.86	$1.59	$1.79	$1.52
Adjusted Weighted Average Diluted Shares Outstanding	393.60M	399.40M	398.90M	401M	401.90M	401.10M	401.60M	400.70M	400.50M	400.80M	400.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	391.30M	392M	395.20M	398.10M	399.80M	399.50M	399.30M	399M	398.60M	398M	397.70M
Normalized Net Operating Profit after Tax (NOPAT)	985	1,019	1,017	992	824	938	876	785	672	744	667
Normalized NOPAT Margin	15.44%	16.33%	16.03%	15.63%	13.87%	15.72%	14.90%	13.38%	12.25%	13.81%	12.56%
Pre Tax Income Margin	18.46%	18.69%	18.98%	18.82%	16.84%	18.23%	18.35%	15.31%	13.90%	15.82%	13.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	36.67	28.76	42.52	42.24	34.33	42.88	33.70	22.36	16.24	20.36	20.43
NOPAT to Interest Expense	29.84	24.27	35.06	34.22	27.48	36.09	26.55	18.69	13.43	16.90	18.03
EBIT Less CapEx to Interest Expense	33.70	22.71	36.45	36.45	30.17	34.38	28.42	18.48	13.78	15.55	18.78
NOPAT Less CapEx to Interest Expense	26.87	18.22	29.00	28.43	23.32	27.59	21.28	14.81	10.97	12.08	16.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	38.80%	39.49%	39.06%	39.48%	41.49%	42.79%	45.25%	49.24%	51.07%	52.70%	55.82%
Augmented Payout Ratio	114.13%	105.11%	81.85%	59.67%	45.54%	42.79%	45.25%	52.93%	58.85%	64.30%	68.29%

Frequently Asked Questions About Eaton's Financials

When does Eaton's financial year end?

According to the most recent income statement we have on file, Eaton's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Eaton's net income changed over the last 9 years?

Eaton's net income appears to be on an upward trend, with a most recent value of $3.80 billion in 2024, rising from $1.97 billion in 2015. The previous period was $3.22 billion in 2023. Check out Eaton's forecast to explore projected trends and price targets.

What is Eaton's operating income?

Eaton's total operating income in 2024 was $4.63 billion, based on the following breakdown:

Total Gross Profit: $9.50 billion
Total Operating Expenses: $4.87 billion

How has Eaton revenue changed over the last 9 years?

Over the last 9 years, Eaton's total revenue changed from $20.86 billion in 2015 to $24.88 billion in 2024, a change of 19.3%.

How much debt does Eaton have?

Eaton's total liabilities were at $19.85 billion at the end of 2024, a 2.5% increase from 2023, and a 25.9% increase since 2015.

How much cash does Eaton have?

In the past 9 years, Eaton's cash and equivalents has ranged from $268 million in 2015 to $561 million in 2017, and is currently $555 million as of their latest financial filing in 2024.

How has Eaton's book value per share changed over the last 9 years?

Over the last 9 years, Eaton's book value per share changed from 32.81 in 2015 to 46.78 in 2024, a change of 42.6%.

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This page (NYSE:ETN) was last updated on 5/28/2025 by MarketBeat.com Staff

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