Eaton Corporation plc
- Open
- 403.90
- Day high
- 406.38
- Day low
- 399.77
- Prev close
- 402.78
- Volume
- 2.0M
- Mkt cap
- $156.1B
- P/E (TTM)
- 40.8
- EPS (TTM)
- $9.86
- P/B
- 7.7
- P/S
- 5.2
- Yield
- 1.08%
- Per share
- $4.34
- ▼Insiders net selling -$8.4M over the last 3 months (2 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Eaton Corporation plc (ETN) is a Industrials company listed on NYSE. The stock is up 17% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 2 sales (SEC Form 4). Drillr has 4 published research articles covering ETN.
Eaton Corporation plc (ETN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ETN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | $3.07 | $3.15 | +2.6% | $8.5B | +4.6% |
| May 5, 2026 | $2.73 | $2.81 | +2.9% | $7.5B | +4.3% |
| Feb 3, 2026 | $3.31 | $3.33 | +0.6% | $7.1B | -0.5% |
| May 2, 2025 | $2.71 | $2.72 | +0.3% | $6.4B | +1.9% |
| Jan 31, 2025 | $2.83 | $2.83 | +0.1% | $6.2B | -1.5% |
| Oct 31, 2024 | $2.81 | $2.84 | +1.2% | $6.3B | -0.5% |
| Aug 1, 2024 | $2.61 | $2.73 | +4.5% | $6.3B | -0.1% |
| Apr 30, 2024 | $2.29 | $2.40 | +4.8% | $5.9B | +0.4% |
| Feb 1, 2024 | $2.47 | $2.55 | +3.2% | $6.0B | +0.8% |
| Oct 31, 2023 | $2.34 | $2.47 | +5.5% | $5.9B | -0.5% |
| Aug 1, 2023 | $2.11 | $2.21 | +4.7% | $5.9B | +1.8% |
| May 2, 2023 | $1.78 | $1.88 | +5.6% | $5.5B | -4.6% |
ETN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 14, 2026 | Johnson Geralddirector | Buy | 70 | $469.93 |
| Aug 14, 2026 | Johnson Geralddirector | Buy | 130 | $455.90 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Option | 658 | $151.76 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Tax | 218 | $458.15 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Option | 583 | $171.31 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Option | 18,036 | $130.86 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Sell | 18,036 | $458.04 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Option | 764 | $130.86 |
| Aug 13, 2026 | Monesmith Heath B.officer: See Remarks below. | Tax | 217 | $458.12 |
| Aug 7, 2026 | Yelton Michaelofficer: See Remarks below. | Option | 658 | $151.76 |
| Aug 7, 2026 | Yelton Michaelofficer: See Remarks below. | Tax | 221 | $451.52 |
| Aug 5, 2026 | Wadecki Adam Aofficer: See Remarks below. | Sell | 525 | $440.54 |
| May 22, 2026 | Thompson Dorothy Cdirector | Sell | 167 | $385.00 |
| May 14, 2026 | Galvao Antonioofficer: See Remarks below. | Sell | 494 | $405.86 |
| May 12, 2026 | Johnson Geralddirector | Buy | 215 | $419.02 |
Source: ETN SEC Form 4 filings, latest Aug 14, 2026. For informational purposes only — not investment advice.
See the full ETN insider & 13F page →ETN research & analysis
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ANETVRTAPHCan power infrastructure companies like GEV and ETN sustain premium multiples as AI capex normalizes?
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Eaton Corporation plc company profile
Overview
Eaton Corporation plc (NYSE:ETN) is a multinational power management company founded in 1911 and headquartered in Dublin, Ireland. Originally established as a manufacturer of truck axles in Cleveland, Ohio, the company has evolved over more than a century into a diversified industrial conglomerate focused on power management solutions. Today, Eaton operates across five primary business segments serving electrical, aerospace, automotive, and emerging mobility markets worldwide. The company has built its reputation on providing critical infrastructure solutions that help customers manage electrical, hydraulic, and mechanical power more efficiently, safely, and sustainably.
Business
Eaton operates as a power management company that designs, manufactures, and sells products and systems used to control, protect, and distribute electrical power across various industries. The company's business is organized into five main segments: Electrical Americas represents the largest revenue segment, generating approximately 45-50% of total company revenue. This division provides electrical components and systems for commercial, industrial, residential, and utility applications throughout North and South America. Key products include circuit breakers, switchgear, transformers, uninterruptible power supply (UPS) systems, and power distribution equipment. These products are essential for managing electricity flow in buildings, factories, data centers, and electrical grids. Electrical Global accounts for roughly 20-25% of revenue and serves similar markets as Electrical Americas but focuses on Europe, Middle East, Africa, and Asia-Pacific regions. This segment offers comparable electrical infrastructure products adapted for different regional standards and requirements. Aerospace contributes approximately 15-20% of revenue and supplies critical systems for commercial and military aircraft. Products include hydraulic systems, fuel systems, motion control systems, and electrical power generation equipment. These components are essential for aircraft operation, controlling everything from landing gear to flight control surfaces. Vehicle generates around 10-15% of revenue and provides powertrain solutions for commercial vehicles and industrial equipment. Key products include transmissions, clutches, differentials, and engine valves used in trucks, buses, construction equipment, and agricultural machinery. eMobility is the smallest but fastest-growing segment, representing roughly 5% of revenue. This division focuses on electric vehicle infrastructure and components, including EV charging systems, power electronics, battery management systems, and electrical components for hybrid and electric vehicles. This segment addresses the growing transition from internal combustion engines to electric powertrains.
Revenue model
Eaton generates revenue primarily through product sales across its diversified portfolio, with different business models for each segment. The electrical businesses operate on a traditional manufacturing model, selling products through distributors, contractors, and directly to end customers including utilities, commercial building owners, and industrial facilities. These customers pay for products needed to build, maintain, and upgrade electrical infrastructure. The aerospace segment follows an original equipment manufacturer (OEM) model, supplying components to aircraft manufacturers like Boeing and Airbus, as well as providing aftermarket parts and services to airlines and maintenance providers. This creates both initial equipment sales and recurring aftermarket revenue streams. The vehicle segment similarly serves OEM customers in the commercial vehicle industry, selling transmission and powertrain components to truck and equipment manufacturers, with additional aftermarket parts business. Several factors significantly impact Eaton's margins and profitability. Positive margin drivers include the ongoing electrification trend increasing demand for electrical infrastructure, data center expansion requiring sophisticated power management systems, renewable energy deployment necessitating grid modernization, and the company's ability to implement price increases during periods of strong demand. The aerospace recovery following the COVID-19 pandemic has also boosted higher-margin aerospace sales. Negative margin pressures come from commodity price inflation affecting raw materials like copper and steel, supply chain disruptions increasing logistics costs, competitive pricing pressure in mature markets, and economic downturns reducing industrial demand. The company's exposure to cyclical end markets like commercial construction and industrial machinery also creates earnings volatility during economic cycles. Eaton has demonstrated strong pricing power in recent years, successfully implementing price increases across most segments to offset inflation, particularly in electrical products where the company holds strong market positions and faces capacity constraints industry-wide.
Competitive moat
Eaton possesses a moderate to strong competitive moat built on several key advantages, though the strength varies significantly across business segments. The company's primary moat stems from its technical expertise and engineering capabilities in power management, developed over more than a century of operations. This expertise creates high switching costs for customers who rely on Eaton's products for critical infrastructure applications where reliability and safety are paramount. In the electrical segments, Eaton benefits from significant barriers to entry including extensive product certifications, established relationships with electrical contractors and distributors, and the substantial capital requirements needed to build manufacturing capacity for products like transformers and switchgear. The company's broad product portfolio allows it to provide complete electrical solutions, making it difficult for customers to switch to competitors offering only partial solutions. The aerospace business enjoys particularly strong moats due to rigorous certification requirements and long product development cycles. Once an aircraft manufacturer certifies Eaton's components for a specific aircraft model, switching costs become extremely high due to re-certification requirements and safety considerations. This creates multi-decade revenue streams from both initial equipment and aftermarket services. However, Eaton faces meaningful competitive threats in several areas. The electrical markets include large competitors like Schneider Electric, ABB, and Siemens with comparable technical capabilities and global reach. In the vehicle segment, the transition to electric vehicles threatens traditional powertrain products, though Eaton is investing heavily in eMobility solutions to address this disruption. The company's moat is moderately strong but not impregnable. While technical expertise and customer relationships provide meaningful protection, the industrial nature of most end markets limits pricing power during economic downturns, and technological disruption in areas like electric vehicles requires continuous investment to maintain competitive positions.
Risks & safety
Eaton demonstrates a solid margin of safety with strong financial fundamentals, though valuation metrics suggest limited upside at current levels. • Financial Strength: The company maintains healthy liquidity with $1.8 billion in cash and short-term investments as of Q1 2025, though this represents a decrease from prior periods. Current ratio of 1.31 indicates adequate short-term liquidity coverage. • Debt Management: Debt-to-equity ratio of 0.58 represents moderate leverage that appears manageable given strong cash flow generation. The company generated $4.3 billion in operating cash flow and $3.5 billion in free cash flow for full year 2024. • Valuation Concerns: Current P/E ratio of 27.6x and EV/EBITDA of 20.0x suggest the stock trades at premium valuations. Price-to-book ratio of 5.76x indicates shares trade well above tangible book value. • Profitability Metrics: Strong return on equity of 20.5% for 2024 demonstrates efficient capital allocation, though this has moderated to 5.2% on a trailing twelve-month basis. • Other Considerations: The company's exposure to cyclical end markets creates earnings volatility risk, while the ongoing capacity expansion program requires significant capital investment that could pressure near-term returns.
Recent development
Over the past several years, Eaton has executed a strategic transformation focused on capitalizing on major secular trends, particularly electrification and digitalization. The company has significantly expanded its presence in the rapidly growing data center market, which has become a key growth driver with sales increasing 45% in 2024 and expectations for continued double-digit growth. Management has committed $1.5 billion in incremental capacity investments to support this expansion, adding manufacturing capability for transformers, switchgear, and other critical electrical infrastructure. The company has also made strategic moves to strengthen its position in emerging markets. The Fiber Bond acquisition enhanced Eaton's data center capabilities, while investments in companies like NordicEPOD have expanded its standardized power module offerings. Geographic expansion includes new facilities in Dubai and Helsinki to serve growing international markets. Leadership transition represents another significant development, with CEO Craig Arnold retiring after nine years and Paulo Sternadt taking over leadership in 2025. This transition comes as the company navigates both opportunities from mega infrastructure projects valued at $1.7 trillion and challenges including potential tariff impacts and supply chain constraints. The company has also undertaken a multi-year restructuring program involving $375 million in costs to generate $325 million in annual savings by 2027, demonstrating management's focus on operational efficiency alongside growth investments. In the eMobility segment, Eaton has focused its strategy on areas where it can leverage existing electrical expertise rather than pursuing broad electric vehicle exposure.
ETN company profile · for informational purposes only — not investment advice.
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