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
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
FCF
Total debt
Cash
2025
$27.4B
$4.1B
37.6%
0.0%
$3.6B
$9.9B
$622M
2024
$24.9B
$3.8B
38.2%
0.0%
$3.5B
$9.2B
$555M
2023
$23.2B
$3.2B
36.4%
0.0%
$2.9B
$9.3B
$488M
2022
$20.8B
$2.5B
33.2%
0.0%
$1.9B
$8.7B
$294M
2021
$19.6B
$2.1B
32.3%
0.0%
$1.6B
$8.6B
$297M
2020
$17.9B
$1.4B
30.5%
0.0%
$2.6B
$8.1B
$438M
2019
$21.4B
$2.2B
33.0%
17.2%
$2.9B
$8.3B
$370M
2018
$21.6B
$2.1B
32.8%
16.8%
$2.1B
$7.5B
$283M
2017
$20.4B
—
32.6%
15.8%
$2.1B
$7.8B
$561M
2016
$19.7B
—
32.2%
15.0%
$2.1B
$8.3B
$543M
2012
—
$1.2B
—
—
$1.1B
$10.8B
$577M
2011
—
$1.4B
—
—
$680M
$3.8B
$385M
2010
—
$929M
—
—
$888M
—
$333M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$7.5B
$866M
35.6%
0.0%
$314M
$21.1B
$565M
Dec '25
$7.1B
$1.1B
36.8%
0.0%
$1.6B
$9.9B
$622M
Sep '25
$7.0B
$1.0B
38.3%
0.0%
$1.2B
$10.7B
$328M
Jun '25
$7.0B
$982M
37.0%
0.0%
$716M
$11.0B
$398M
Mar '25
$6.4B
$964M
38.4%
0.0%
$91M
$10.1B
$1.8B
Dec '24
$6.2B
$971M
38.9%
0.0%
$1.3B
$9.2B
$555M
Sep '24
$6.3B
$1.0B
38.6%
0.0%
$1.1B
$9.4B
$473M
Jun '24
$6.3B
$993M
38.0%
0.0%
$759M
$9.8B
$540M
Mar '24
$5.9B
$821M
37.3%
0.0%
$292M
$9.2B
$473M
Dec '23
$6.0B
$945M
37.5%
0.0%
$1.1B
$9.3B
$488M
Sep '23
$5.9B
$891M
37.3%
0.0%
$913M
$9.1B
$348M
Jun '23
$5.9B
$744M
36.1%
0.0%
$690M
$9.3B
$353M
Mar '23
$5.5B
$638M
34.4%
0.0%
$209M
$8.8B
$235M
Dec '22
$5.4B
$721M
34.1%
0.0%
$977M
$8.7B
$294M
Sep '22
$5.3B
$607M
33.3%
0.0%
$830M
$9.0B
$231M
Jun '22
$5.2B
$601M
32.8%
0.0%
$201M
$9.7B
$364M
Mar '22
$4.8B
$532M
32.5%
0.0%
-$73M
$9.6B
$237M
Dec '21
$4.8B
$551M
32.8%
0.0%
$632M
$8.6B
$297M
Sep '21
$4.9B
$629M
32.2%
0.0%
$331M
$9.1B
$271M
Jun '21
$5.2B
$506M
32.0%
0.0%
$484M
$12.1B
$279M
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 39.9× (Jun '26).
The price-to-sales ratio has risen from 3.2× (Mar '23) to 5.9× (Jun '26).
The dividend yield has fallen from 2.0% (Mar '23) to 1.0% (Jun '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 Corporation'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 Corporation 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?
As of Jun '26, Eaton Corporation traded at a price-to-earnings ratio of about 39.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.