Eaton Corp plc (ETN)
Industrials · Electrical Components & Equipment · US stock · S&P 500 component
$366.11
▼ -2.88 (0.78%)
Fair valueFair
$319 −12.9% to fair value
$159fair band $271–$386$478
Day's range
$358.51 – $371.17
52-week range
$311.92 – $478.00
About Eaton Corp plc
Eaton is a power management company, incorporated in Ireland, that makes electrical, aerospace and vehicle products. Its electrical lines include switchgear, circuit protection, power distribution and backup power systems for utilities, data centres, buildings and industry. It also makes hydraulics and fuel systems for aircraft and components for trucks and cars. Customers are utilities, builders, data centre operators, aircraft makers and vehicle manufacturers.
Eaton earns revenue from supplying these products and related services to industrial, commercial and utility customers. It totals $30.0 billion over the last twelve months, growing at 9.8% a year across three years. The operating margin is 17.5%, and the business earns a profit of 10% on the capital invested in it. The company has net debt of 3.1 times EBITDA, and the dividend yield is 1.2%. On the site's X-Ray Score it receives 39 out of 100.
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52-wk range $311.92 – $478.00Volume 2,265,126Daily, split-adjusted
Vitals
Market cap$142.6B
52-week range$311.92 – $478.00
Volume (last day)2,265,126
P/E (TTM)37.3
EBIT / EV yield3.2%
Free-cash-flow yield2.8%
Dividend yield1.2%
Revenue (TTM)$30.0B
Net income (TTM)$3.8B
Operating margin17.5%
Return on capital10.4%
Debt incl. leases$20.6B
Cash & securities$695M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$319middle half of models $337 – $360
Fair
−12.9% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $366
Undervalued < $271Fair $271 – $386Overvalued > $386
P/E multiple
$356
P/B multiple
$337
P/S multiple
$378
EV/EBITDA multiple
$347
EV/EBIT multiple
$343
EV/revenue multiple
$360
10-year DCF, EBITDA exit
$356
5-year DCF, EBITDA exit
$386
10-year DCF, revenue exit
$358
5-year DCF, revenue exit
$389
10-year DCF, growth exit
$149
5-year DCF, growth exit · not used
$133
Dividend discount, stable · not used
$145
Dividend discount, multi-stage
$227
Earnings power value
$159
Growth the price implies
25.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 4.96%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
21/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.2%
Free-cash-flow yield2.8%
Fair value vs price0.9×
Growth
Strong
78/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)9.8%
EPS growth (3y)19.4%
Growth consistency100%
Profitability
Weak
34/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital10.4%
Operating margin17.5%
Gross profitability19.2%
Financial health
Weak
32/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA3.1×
Interest cover11.9×
Dividends
Weak
38/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield1.2%
Dividends vs free cash flow43%
Dividend growth7.8%
Quarterly results: last 6 quarters
+7.3%
Mar '25
+10.7%
Jun '25
+10.1%
Sep '25
+13.1%
Dec '25
+16.8%
Mar '26
+21.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $8.5B, diluted EPS $2.11.
Compare with peers
VRT Vertiv Holdings Co59 EMR Emerson Electric Co49 AME Ametek Inc/47 ROK Rockwell Automation, I...47Other Electrical Components & Equipment companies by X-Ray Score.
SWOT analysis: Eaton Corp plc
Strengthsinside the company
- Earnings per share have compounded at 19.4% a year over three years.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 43% of free cash flow, which leaves room to raise them.
Threatsvaluation and setting
- The price trend is down on the daily and weekly signals.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare ETN with peers and sector
Medians of 5 Electrical Components & Equipment peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): EMR 49, VRT 59, BE 32, AME 47, ROK 47.
| Metric | ETN | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 39 | 47 | 51 |
| Valuation | 21 | 24 | 49 |
| Growth | 78 | 73 | 50 |
| Profitability | 34 | 49 | 51 |
| Financial health | 32 | 58 | 49 |
| Dividends | 38 | 53 | 53 |
Sector leaders: highest X-Ray Score in Industrials
ETN ranks #68 of 81 in Industrials and #5 of 6 in Electrical Components & Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for ETN
Each factor is rated by where ETN stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 4 Good · 9 Average · 10 Bad of 23
Growth: 3 · 0 · 0
Profitability: 0 · 4 · 1
Financial strength: 0 · 2 · 2
Valuation: 0 · 1 · 4
Cash flow: 1 · 2 · 1
Efficiency: 0 · 0 · 2
| Factor | ETN | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +9.8% | Good beats 78% | +5.6% | – | – |
| Revenue growth, last year | +10.3% | Good beats 83% | +4.5% | +9.9% | ≈ In line |
| EPS growth, 3 years a year | +19.4% | Good beats 78% | +5.7% | – | – |
| Profitability | |||||
| Gross margin | 35.9% | Average beats 41% | 38.0% | 36.4% | ≈ In line |
| Operating margin | 17.5% | Average beats 52% | 17.5% | 17.1% | ≈ In line |
| Net margin | 12.8% | Average beats 50% | 12.8% | 13.9% | ≈ In line |
| Return on invested capital | 10.4% | Bad beats 24% | 14.9% | – | – |
| Return on equity | 18.9% | Average beats 45% | 23.7% | 16.9% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 3.1x | Bad beats 10% | 1.8x | 1.5x | ▼ Worse |
| Interest cover | 11.9x | Bad beats 33% | 21.4x | 23.9x | ▼ Worse |
| Current ratio | 1.24 | Average beats 49% | 1.25 | 1.38 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 41% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 37.2x | Bad beats 17% | 28.2x | 30.5x | ▼ Worse |
| Price / book | 7.0x | Average beats 45% | 6.2x | 5.1x | ▼ Worse |
| Price / sales | 4.7x | Bad beats 30% | 3.6x | 4.2x | ▼ Worse |
| EV / EBITDA | 25.2x | Bad beats 18% | 18.3x | 21.1x | ▼ Worse |
| Free cash flow yield | 2.8% | Bad beats 14% | 3.8% | 2.9% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 13.1% | Average beats 46% | 13.8% | 12.4% | ≈ In line |
| Cash from operations / net income | 1.29 | Average beats 42% | 1.39 | 1.09 | ▲ Better |
| Free cash flow growth, 3 years a year | +22.5% | Good beats 70% | +14.5% | – | – |
| Accruals (lower is better) | −2.0% | Bad beats 29% | −3.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 3.6x | Bad beats 32% | 4.0x | 3.9x | ≈ In line |
| Days sales outstanding | 81 days | Bad beats 13% | 57 days | 70 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 4 Good · ● 4 Average · ● 8 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyGood
Balance sheet
Current ratioAverage
Net debt / EBITDABad
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 39/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $19.6B | $20.8B | $23.2B | $24.9B | $27.4B |
| Operating income | $3.0B | $2.9B | $4.0B | $4.7B | $5.2B |
| Net income | $2.1B | $2.5B | $3.2B | $3.8B | $4.1B |
| Operating cash flow | $2.2B | $2.5B | $3.6B | $4.3B | $4.5B |
| Operating margin | 15.5% | 14.0% | 17.1% | 18.9% | 18.8% |
| Free cash flow | $1.6B | $1.9B | $2.9B | $3.5B | $3.6B |
| Diluted EPS | $5.34 | $6.14 | $8.02 | $9.50 | $10.45 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bearish
3 bullish · 1 neutral · 12 bearish
Weekly
Bearish
4 bullish · 1 neutral · 7 bearish
Monthly
Neutral
3 bullish · 1 neutral · 4 bearish
Moving averages (daily)
| SMA 10 | 396.0 | Bearish |
| EMA 10 | 392.0 | Bearish |
| SMA 20 | 414.6 | Bearish |
| EMA 20 | 404.7 | Bearish |
| SMA 50 | 416.4 | Bearish |
| EMA 50 | 413.1 | Bearish |
| SMA 100 | 414.1 | Bearish |
| EMA 100 | 410.2 | Bearish |
| SMA 200 | 394.2 | Bearish |
| EMA 200 | 396.5 | Bearish |
Oscillators (daily)
| RSI (14) | 30.75 | Neutral |
| MACD (12, 26) | -12.61 | Bearish |
| Momentum (12) | -15.12 | Bearish |
| Stochastic %K (14) | 8.61 | Bullish |
| Williams %R (14) | -91.39 | Bullish |
| CCI (20) | -157.6 | Bullish |
Pivot points (classic, last session)
S3 346.7 | S2 352.6 | S1 359.4 | Pivot 365.3 | R1 372.0 | R2 377.9 | R3 384.7 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
4.34 USD
Yield on today's price
1.19%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.1000 | |
| 1.1000 | |
| 1.1000 | |
| 1.0400 | |
| 1.0400 | |
| 1.0400 | |
| 1.0400 | |
| 0.9400 | |
| 0.9400 | |
| 0.9400 | |
| 0.9400 | |
| 0.8600 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold ETN
| ETF | Share of the fund |
|---|---|
| GRID First Trust NASDAQ Clean Edge Smart Gr... | 8.52% |
| AIPO Defiance AI & Power Infrastructure | 7.10% |
| PAVE Global X U.S. Infrastructure Developme... | 3.30% |
| XLI Industrial Select Sector SPDR | 2.87% |
| GRNY Fundstrat Granny Shots US Large Cap | 2.50% |
| FIDU Fidelity MSCI Industrials Index | 2.29% |
| VIS Vanguard Industrials | 2.21% |
| PPA Invesco Aerospace & Defense | 2.15% |
The eight funds with the largest weight in ETN among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
ETN stock splits
ETN has split its stock 3 times since 1993. The latest was a 2-for-1 split on 1 Mar 2011.
Full ETN stock split history →ETN SEC filings
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Regulation FD disclosure; Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.