13 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 9.0% per year over the past 5 years.
Net income has grown faster than revenue (23.7% vs 9.0% per year).
Free cash flow has grown 6.8% per year over the past 5 years.
Financial health
Total debt ($9.9B) exceeds cash ($622M); net debt is $9.3B.
Total debt has grown slower than revenue (4.2% vs 9.0% per year).
Shareholder returns
Dividends have been paid for 13 consecutive years, consuming 39.8% of earnings and 45.8% of free cash flow.
The dividend has grown 6.7% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$27.4B
$4.1B
37.6%
0.0%
21.0%
9.9%
$3.6B
$9.9B
$622M
2024
$24.9B
$3.8B
38.2%
0.0%
20.5%
9.9%
$3.5B
$9.2B
$555M
2023
$23.2B
$3.2B
36.4%
0.0%
16.9%
8.4%
$2.9B
$9.3B
$488M
2022
$20.8B
$2.5B
33.2%
0.0%
14.5%
7.0%
$1.9B
$8.7B
$294M
2021
$19.6B
$2.1B
32.3%
0.0%
13.1%
6.3%
$1.6B
$8.6B
$297M
2020
$17.9B
$1.4B
30.5%
0.0%
9.4%
4.4%
$2.6B
$8.1B
$438M
2019
$21.4B
$2.2B
33.0%
17.2%
13.7%
6.7%
$2.9B
$8.3B
$370M
2018
$21.6B
$2.1B
32.8%
16.8%
13.3%
6.9%
$2.1B
$7.5B
$283M
2017
$20.4B
—
32.6%
15.8%
0.0%
0.0%
$2.1B
$7.8B
$561M
2016
$19.7B
—
32.2%
15.0%
0.0%
0.0%
$2.1B
$8.3B
$543M
2012
—
$1.2B
—
—
8.1%
3.4%
$1.1B
$10.8B
$577M
2011
—
$1.4B
—
—
18.1%
7.6%
$680M
$3.8B
$385M
2010
—
$929M
—
—
—
5.4%
$888M
—
$333M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$8.5B
$821M
33.5%
0.0%
4.1%
1.5%
$874M
$20.6B
$483M
Mar '26
$7.5B
$866M
35.6%
0.0%
4.4%
1.6%
$314M
$21.1B
$565M
Dec '25
$7.1B
$1.1B
36.8%
0.0%
5.8%
2.7%
$1.6B
$9.9B
$622M
Sep '25
$7.0B
$1.0B
38.3%
0.0%
5.4%
2.5%
$1.2B
$10.7B
$328M
Jun '25
$7.0B
$982M
37.0%
0.0%
5.3%
2.4%
$716M
$11.0B
$398M
Mar '25
$6.4B
$964M
38.4%
0.0%
5.2%
2.5%
$91M
$10.1B
$1.8B
Dec '24
$6.2B
$971M
38.9%
0.0%
5.3%
2.5%
$1.3B
$9.2B
$555M
Sep '24
$6.3B
$1.0B
38.6%
0.0%
5.3%
2.6%
$1.1B
$9.4B
$473M
Jun '24
$6.3B
$993M
38.0%
0.0%
5.2%
2.5%
$759M
$9.8B
$540M
Mar '24
$5.9B
$821M
37.3%
0.0%
4.3%
2.1%
$292M
$9.2B
$473M
Dec '23
$6.0B
$945M
37.5%
0.0%
5.0%
2.5%
$1.1B
$9.3B
$488M
Sep '23
$5.9B
$891M
37.3%
0.0%
4.8%
2.4%
$913M
$9.1B
$348M
Jun '23
$5.9B
$744M
36.1%
0.0%
4.1%
2.0%
$690M
$9.3B
$353M
Mar '23
$5.5B
$638M
34.4%
0.0%
3.7%
1.8%
$209M
$8.8B
$235M
Dec '22
$5.4B
$721M
34.1%
0.0%
4.2%
2.1%
$977M
$8.7B
$294M
Sep '22
$5.3B
$607M
33.3%
0.0%
3.8%
1.8%
$830M
$9.0B
$231M
Jun '22
$5.2B
$601M
32.8%
0.0%
3.7%
1.7%
$201M
$9.7B
$364M
Mar '22
$4.8B
$532M
32.5%
0.0%
3.2%
1.5%
-$73M
$9.6B
$237M
Dec '21
$4.8B
$551M
32.8%
0.0%
3.4%
1.6%
$632M
$8.6B
$297M
Sep '21
$4.9B
$629M
32.2%
0.0%
3.9%
1.8%
$331M
$9.1B
$271M
Valuation over time
How the market has priced ETN against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 27.0× (Mar '23) to 35.0× (Nov '26).
The price-to-sales ratio has risen from 3.2× (Mar '23) to 5.2× (Nov '26).
The dividend yield has fallen from 2.0% (Mar '23) to 1.1% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is ETN growing its revenue and profit?
Over the past 5 years, Eaton's revenue has grown 9.0% per year, and net income grown 23.7% per year. These are computed facts, not advice.
How much debt does ETN have?
As of FY2025, Eaton reported $9.9B of total debt against $622M of cash.
What is ETN's profit margin?
In FY2025, gross margin was 37.6%, operating margin —, and net margin 14.9%.
What is ETN's P/E ratio?
Eaton's P/E (TTM) is 37.35 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the ETN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 35.0× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.