Eaton (ETN) Financials

$298.56 -0.02 (-0.01%)

Closing price 03:59 PM Eastern

Extended Trading

$300.32 +1.76 (+0.59%)

As of 07:58 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	1,972	1,916	2,985	2,145	2,211	1,410	2,144	2,462	3,218	3,794
Consolidated Net Income / (Loss)	1,974	1,919	2,986	2,146	2,213	1,415	2,146	2,465	3,223	3,798
Net Income / (Loss) Continuing Operations	1,974	1,919	2,986	2,146	2,213	1,415	2,146	2,466	3,223	3,798
Total Pre-Tax Income	2,133	2,118	3,368	2,424	2,591	1,746	2,896	2,911	3,827	4,566
Total Operating Income	2,330	2,300	2,538	2,691	2,863	1,824	2,463	2,995	3,885	4,632
Total Gross Profit	6,551	6,351	6,648	7,098	7,052	5,450	6,335	6,887	8,434	9,503
Total Revenue	20,855	19,747	20,404	21,609	21,390	17,858	19,628	20,752	23,196	24,878
Operating Revenue	20,855	19,747	20,404	21,609	21,390	17,858	19,628	20,752	23,196	24,878
Total Cost of Revenue	14,304	13,396	13,756	14,511	14,338	12,408	13,293	13,865	14,762	15,375
Operating Cost of Revenue	14,304	13,396	13,756	14,511	14,338	12,408	13,293	13,865	14,762	15,375
Total Operating Expenses	4,221	4,051	4,110	4,407	4,189	3,626	3,872	3,892	4,549	4,871
Selling, General & Admin Expense	3,596	3,464	3,526	3,548	3,583	3,075	3,256	3,227	3,795	4,077
Research & Development Expense	625	587	584	584	606	551	616	665	754	794
Total Other Income / (Expense), net	-197	-182	830	-267	-272	-78	433	-84	-58	-66
Interest Expense	232	233	246	258	199	149	144	144	151	130
Other Income / (Expense), net	35	51	1,076	-9.00	-73	71	577	60	93	64
Income Tax Expense	159	199	382	278	378	331	750	445	604	768
Net Income / (Loss) Attributable to Noncontrolling Interest	2.00	3.00	1.00	1.00	2.00	5.00	2.00	4.00	5.00	4.00
Basic Earnings per Share	$4.23	$4.21	$6.71	$4.93	$5.28	$3.51	$5.38	$6.17	$8.06	$9.54
Weighted Average Basic Shares Outstanding	465.50M	455M	444.50M	434.30M	419M	402.20M	398.70M	398.70M	399.10M	397.60M
Diluted Earnings per Share	$4.22	$4.20	$6.68	$4.91	$5.25	$3.49	$5.34	$6.14	$8.02	$9.50
Weighted Average Diluted Shares Outstanding	467.10M	456.50M	447M	436.90M	420.80M	404M	401.60M	400.80M	401.10M	399.40M
Weighted Average Basic & Diluted Shares Outstanding	465.60M	454M	448.20M	423.60M	413.40M	398.10M	398.80M	398M	399.50M	392M
Cash Dividends to Common per Share	$2.20	$2.28	$2.40	$2.64	$2.84	$2.92	$3.04	$3.24	$3.44	$3.76

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About Eaton's Financials

When does Eaton's fiscal year end?

According to the most recent income statement we have on file, Eaton's financial year ends in December. Their financial 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 5/6/2025 by MarketBeat.com Staff

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Eaton (ETN) Financials

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Eaton (ETN) Financials

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