Eaton Corporation (ETN)

NYSE Industrials Electrical Components & Equipment S&P 500

$341.72

+14.70 (+4.50%)

Close of Nov 06, 2026 · end-of-day data

Source: Eaton Corporation's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 04, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$19.75B	$20.40B	$21.61B	$21.39B	$17.86B	$19.63B	$20.75B	$23.20B	$24.88B	$27.45B
Cost of revenue	$13.40B	$13.76B	$14.51B	$14.34B	$12.41B	$13.29B	$13.87B	$14.76B	$15.38B	$17.13B
Gross profit	$6.35B	$6.65B	$7.10B	$7.05B	$5.45B	$6.33B	$6.89B	$8.43B	$9.50B	$10.32B
Research & development	$587.00M	$584.00M	$584.00M	$606.00M	$551.00M	$616.00M	$665.00M	$754.00M	$794.00M	$797.00M
Selling, general & admin	$3.46B	$3.53B	$3.55B	$3.58B	$3.08B	$3.26B	$3.23B	$3.79B	$4.08B	$4.31B
Operating income	$2.96B	$3.21B	$3.63B	$3.67B	—	—	—	—	—	—
Interest expense	—	—	—	$199.00M	$149.00M	$144.00M	—	$151.00M	$130.00M	$241.00M
Pre-tax income	$2.12B	$3.37B	$2.42B	$2.59B	$1.75B	$2.90B	$2.91B	$3.83B	$4.57B	$4.93B
Income tax	$199.00M	$382.00M	$278.00M	$378.00M	$331.00M	$750.00M	$445.00M	$604.00M	$768.00M	$841.00M
Net income	$1.92B	$2.98B	$2.15B	$2.21B	$1.41B	$2.14B	$2.46B	$3.22B	$3.79B	$4.09B
EBITDA	$3.89B	$4.13B	$4.53B	$4.56B	—	—	—	—	—	—
EPS (basic)	$4.21	$6.71	$4.93	$5.28	$3.51	$5.38	$6.17	$8.06	$9.54	$10.48
EPS (diluted)	$4.20	$6.68	$4.91	$5.25	$3.49	$5.34	$6.14	$8.02	$9.50	$10.45
Diluted shares	456.50M	447.00M	436.90M	420.80M	404.00M	401.60M	400.80M	401.10M	399.40M	391.20M
Gross margin	32.2%	32.6%	32.8%	33.0%	30.5%	32.3%	33.2%	36.4%	38.2%	37.6%
Operating margin	15.0%	15.8%	16.8%	17.2%	—	—	—	—	—	—
Net margin	9.7%	14.6%	9.9%	10.3%	7.9%	10.9%	11.9%	13.9%	15.3%	14.9%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$543.00M	$561.00M	$283.00M	$370.00M	$438.00M	$297.00M	$294.00M	$488.00M	$555.00M	$622.00M
Short-term investments	$203.00M	$534.00M	$157.00M	$221.00M	$664.00M	$271.00M	$261.00M	$2.12B	$1.52B	$181.00M
Receivables	$3.56B	$3.94B	$3.86B	$3.44B	$2.90B	$3.30B	$4.08B	$4.47B	$4.62B	$5.39B
Inventory	$2.35B	$2.62B	$2.79B	$2.81B	$2.11B	$2.97B	$3.43B	$3.74B	$4.23B	$4.72B
Total current assets	$7.03B	$8.34B	$7.59B	$8.73B	$9.18B	$7.51B	$8.75B	$11.68B	$11.80B	$12.36B
Goodwill	$13.20B	$13.57B	$13.33B	$13.46B	$12.90B	$14.75B	$14.80B	$14.98B	$14.71B	$15.77B
Total assets	$30.48B	$32.62B	$31.09B	$32.80B	$31.82B	$34.03B	$35.01B	$38.43B	$38.38B	$41.25B
Total current liabilities	$5.49B	$5.08B	$5.15B	$5.13B	$5.88B	$7.21B	$6.36B	$7.75B	$7.86B	$9.37B
Short-term debt	$14.00M	$6.00M	$414.00M	$255.00M	$1.00M	$13.00M	$324.00M	$8.00M	$0	$1.00M
Long-term debt	$8.26B	$7.75B	$7.11B	$8.07B	$8.06B	$8.57B	$8.33B	$9.26B	$9.15B	$9.89B
Total debt	$8.28B	$7.75B	$7.52B	$8.32B	$8.06B	$8.58B	$8.65B	$9.27B	$9.15B	$9.89B
Total liabilities	$15.52B	$15.37B	$14.98B	$16.72B	$16.89B	$17.61B	$17.98B	$19.40B	$19.89B	$21.83B
Shareholders' equity	$14.95B	$17.25B	$16.11B	$16.08B	$14.93B	$16.41B	$17.04B	$19.04B	$18.49B	$19.43B

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$2.57B	$2.67B	$2.66B	$3.45B	$2.94B	$2.16B	$2.53B	$3.62B	$4.33B	$4.47B
Capital expenditures	$497.00M	$520.00M	$565.00M	$587.00M	$389.00M	$575.00M	$598.00M	$757.00M	$808.00M	$919.00M
Free cash flow	$2.07B	$2.15B	$2.09B	$2.86B	$2.56B	$1.59B	$1.94B	$2.87B	$3.52B	$3.55B
Investing cash flow	-$529.00M	-$217.00M	-$398.00M	-$1.87B	$397.00M	-$1.76B	-$1.20B	-$2.58B	-$271.00M	-$1.10B
Financing cash flow	-$1.74B	-$2.44B	-$2.58B	-$1.49B	-$3.26B	-$535.00M	-$1.34B	-$871.00M	-$3.94B	-$3.17B
Dividends paid	$1.04B	$1.07B	$1.15B	$1.20B	$1.18B	$1.22B	$1.30B	$1.38B	$1.50B	$1.63B
Share buybacks	$730.00M	$850.00M	$1.27B	$1.03B	$1.61B	$122.00M	$286.00M	$0	$2.49B	$1.86B
Stock-based compensation	$14.00M	$11.00M	$11.00M	$9.00M	—	—	—	—	—	—
Depreciation & amortization	$929.00M	$914.00M	$903.00M	$884.00M	$811.00M	$922.00M	$954.00M	$926.00M	$921.00M	$1.01B

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$5.97B	$5.94B	$6.35B	$6.34B	$6.24B	$6.38B	$7.03B	$6.99B	$7.05B	$7.45B	$8.53B	$8.95B
Cost of revenue	$3.73B	$3.73B	$3.94B	$3.90B	$3.81B	$3.93B	$4.43B	$4.31B	$4.46B	$4.80B	$5.68B	$5.84B
Gross profit	$2.23B	$2.22B	$2.41B	$2.45B	$2.43B	$2.45B	$2.60B	$2.67B	$2.60B	$2.65B	$2.85B	$3.10B
Research & development	$201.00M	$189.00M	$196.00M	$207.00M	$201.00M	$198.00M	$192.00M	$203.00M	$203.00M	$211.00M	$227.00M	$238.00M
Selling, general & admin	$956.00M	$1.02B	$1.02B	$1.03B	$1.00B	$1.05B	$1.15B	$1.10B	$1.01B	$1.27B	$1.24B	$1.28B
Interest expense	—	—	—	$29.00M	$42.00M	$33.00M	$71.00M	$67.00M	$70.00M	$106.00M	$201.00M	$198.00M
Pre-tax income	$1.09B	$1.00B	$1.20B	$1.20B	$1.17B	$1.18B	$1.19B	$1.27B	$1.29B	$1.11B	$1.14B	$1.37B
Income tax	$141.00M	$179.00M	$201.00M	$193.00M	$195.00M	$212.00M	$203.00M	$264.00M	$161.00M	$240.00M	$321.00M	$291.00M
Net income	$945.00M	$821.00M	$993.00M	$1.01B	$971.00M	$964.00M	$982.00M	$1.01B	$1.13B	$866.00M	$821.00M	$1.08B
EPS (basic)	$2.36	$2.05	$2.49	$2.54	$2.46	$2.46	$2.52	$2.60	$2.91	$2.23	$2.11	$2.77
EPS (diluted)	$2.35	$2.04	$2.48	$2.53	$2.45	$2.45	$2.51	$2.59	$2.91	$2.22	$2.11	$2.77
Diluted shares	200.00K	401.90M	401.00M	398.90M	-1.20M	393.60M	391.40M	390.10M	-500.00K	389.20M	389.50M	389.60M
Gross margin	37.5%	37.3%	38.0%	38.6%	38.9%	38.4%	37.0%	38.3%	36.8%	35.6%	33.5%	34.7%
Net margin	15.8%	13.8%	15.6%	15.9%	15.6%	15.1%	14.0%	14.5%	16.0%	11.6%	9.6%	12.0%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$488.00M	$473.00M	$540.00M	$473.00M	$555.00M	$1.78B	$398.00M	$328.00M	$622.00M	$565.00M	$483.00M	$528.00M
Short-term investments	$2.12B	$1.97B	$2.24B	$1.52B	$1.52B	$162.00M	$186.00M	$237.00M	$181.00M	$186.00M	$212.00M	$290.00M
Receivables	$4.47B	$4.67B	$4.86B	$4.89B	$4.62B	$5.09B	$5.49B	$5.56B	$5.39B	$6.37B	$6.67B	$7.15B
Inventory	$3.74B	$3.87B	$3.96B	$4.18B	$4.23B	$4.39B	$4.58B	$4.61B	$4.72B	$5.15B	$5.42B	$5.94B
Total current assets	$11.68B	$11.85B	$12.65B	$12.15B	$11.80B	$12.43B	$11.90B	$12.13B	$12.36B	$14.01B	$14.77B	$16.03B
Goodwill	$14.98B	$14.88B	$14.85B	$15.04B	$14.71B	$14.85B	$15.79B	$15.81B	$15.77B	$21.40B	$20.23B	$20.30B
Total assets	$38.43B	$38.53B	$39.38B	$39.24B	$38.38B	$39.21B	$40.51B	$40.65B	$41.25B	$55.09B	$56.18B	$57.45B
Total current liabilities	$7.75B	$7.61B	$8.12B	$7.94B	$7.86B	$9.52B	$9.59B	$9.47B	$9.37B	$11.74B	$11.91B	$12.99B
Short-term debt	$8.00M	$1.00M	$4.00M	$3.00M	$0	$805.00M	$1.11B	$761.00M	$1.00M	$2.51B	$2.09B	$1.59B
Long-term debt	$9.26B	$9.19B	$9.83B	$9.39B	$9.15B	$9.28B	$9.88B	$9.89B	$9.89B	$18.62B	$18.52B	$18.51B
Total debt	$9.27B	$9.19B	$9.84B	$9.39B	$9.15B	$10.08B	$11.00B	$10.65B	$9.89B	$21.13B	$20.61B	$20.11B
Total liabilities	$19.40B	$19.24B	$20.16B	$20.12B	$19.89B	$20.70B	$21.90B	$21.81B	$21.83B	$35.36B	$35.93B	$36.48B
Shareholders' equity	$19.04B	$19.29B	$19.22B	$19.12B	$18.49B	$18.51B	$18.61B	$18.84B	$19.43B	$19.72B	$20.25B	$20.98B

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$1.30B	$475.00M	$946.00M	$1.31B	$1.60B	$238.00M	$918.00M	$1.35B	$1.97B	$507.00M	$1.13B	$1.31B
Capital expenditures	$243.00M	$183.00M	$187.00M	$183.00M	$255.00M	$147.00M	$202.00M	$178.00M	$392.00M	$193.00M	$253.00M	$275.00M
Free cash flow	$1.05B	$292.00M	$759.00M	$1.13B	$1.34B	$91.00M	$716.00M	$1.17B	$1.57B	$314.00M	$874.00M	$1.03B
Investing cash flow	-$793.00M	$33.00M	-$544.00M	$511.00M	-$271.00M	$1.23B	-$1.72B	-$293.00M	-$318.00M	-$11.38B	-$286.00M	-$346.00M
Financing cash flow	-$364.00M	-$536.00M	-$303.00M	-$1.85B	-$1.24B	-$244.00M	-$453.00M	-$1.11B	-$1.36B	$10.80B	-$922.00M	-$923.00M
Dividends paid	$344.00M	$368.00M	$388.00M	$374.00M	$370.00M	$397.00M	$421.00M	$404.00M	$404.00M	$415.00M	$443.00M	$427.00M
Share buybacks	$0	$138.00M	$600.00M	$877.00M	$877.00M	$615.00M	$692.00M	$362.00M	$193.00M	$0	$0	$0
Depreciation & amortization	$231.00M	$225.00M	$227.00M	$235.00M	$234.00M	$232.00M	$261.00M	$258.00M	$255.00M	$272.00M	$399.00M	$464.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.