Eaton (ETN)
Market Price (8/3/2026): $413.97 | Market Cap: $160.7 BilInvestor Relations Sector: Industrials | Industry: Electrical Components & Equipment
Eaton (ETN)
Market Price (8/3/2026): $413.97Market Cap: $160.7 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 4.7 Bil, FCF LTM is 3.8 Bil Stock buyback supportStock Buyback 3Y Total is 4.4 Bil Low stock price volatilityVol 12M is 38% Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, Renewable Energy Transition, Electric Vehicles & Autonomous Driving, Sustainable & Green Buildings, Show more. | Trading close to highsDist 52W High is -4.7%, Dist 3Y High is -4.7% | Key risksETN key risks include [1] elevated inventory levels indicating potential demand or supply chain challenges and [2] failing to maintain its innovative edge and cost-competitiveness in the face of intense competition. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 4.7 Bil, FCF LTM is 3.8 Bil |
| Stock buyback supportStock Buyback 3Y Total is 4.4 Bil |
| Low stock price volatilityVol 12M is 38% |
| Megatrend and thematic driversMegatrends include Smart Grids & Grid Modernization, Renewable Energy Transition, Electric Vehicles & Autonomous Driving, Sustainable & Green Buildings, Show more. |
| Trading close to highsDist 52W High is -4.7%, Dist 3Y High is -4.7% |
| Key risksETN key risks include [1] elevated inventory levels indicating potential demand or supply chain challenges and [2] failing to maintain its innovative edge and cost-competitiveness in the face of intense competition. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 8/1/2026
Eaton (ETN) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Conservative Fiscal Q1 2026 Guidance and Negative Market Response.
Eaton reported its fiscal Q1 2026 earnings on May 5, 2026. While the company achieved strong sales, net income was lower year-over-year. More significantly, Eaton's full-year 2026 adjusted earnings guidance fell below Wall Street consensus estimates, which triggered a negative market reaction. This contributed to the stock experiencing a 4.08% decline on May 18, 2026.
2. Margin Pressures and Premium Valuation Concerns.
Analysts expressed concerns regarding potential margin compression and Eaton's valuation. During fiscal Q1 2026, segment operating margins contracted by 120 basis points, with Electrical Americas margins specifically decreasing by 440 basis points. This reduction in profitability, coupled with the stock trading at a premium valuation (e.g., a trailing price-to-earnings ratio of 37.82x compared to its 5-year median of 32.25x before the Q2 2026 report), made the stock susceptible to downward revisions and investor caution.
Show more
Eaton (ETN) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Conservative Fiscal Q1 2026 Guidance and Negative Market Response.
Eaton reported its fiscal Q1 2026 earnings on May 5, 2026. While the company achieved strong sales, net income was lower year-over-year. More significantly, Eaton's full-year 2026 adjusted earnings guidance fell below Wall Street consensus estimates, which triggered a negative market reaction. This contributed to the stock experiencing a 4.08% decline on May 18, 2026.
2. Margin Pressures and Premium Valuation Concerns.
Analysts expressed concerns regarding potential margin compression and Eaton's valuation. During fiscal Q1 2026, segment operating margins contracted by 120 basis points, with Electrical Americas margins specifically decreasing by 440 basis points. This reduction in profitability, coupled with the stock trading at a premium valuation (e.g., a trailing price-to-earnings ratio of 37.82x compared to its 5-year median of 32.25x before the Q2 2026 report), made the stock susceptible to downward revisions and investor caution.
Show more
Updated on 8/1/2026
Eaton (ETN) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Conservative Fiscal Q1 2026 Guidance and Negative Market Response.
Eaton reported its fiscal Q1 2026 earnings on May 5, 2026. While the company achieved strong sales, net income was lower year-over-year. More significantly, Eaton's full-year 2026 adjusted earnings guidance fell below Wall Street consensus estimates, which triggered a negative market reaction. This contributed to the stock experiencing a 4.08% decline on May 18, 2026.
2. Margin Pressures and Premium Valuation Concerns.
Analysts expressed concerns regarding potential margin compression and Eaton's valuation. During fiscal Q1 2026, segment operating margins contracted by 120 basis points, with Electrical Americas margins specifically decreasing by 440 basis points. This reduction in profitability, coupled with the stock trading at a premium valuation (e.g., a trailing price-to-earnings ratio of 37.82x compared to its 5-year median of 32.25x before the Q2 2026 report), made the stock susceptible to downward revisions and investor caution.
3. Increased Debt and Impact on GAAP Profitability from Acquisitions.
Eaton's balance sheet reflected a substantial increase in debt, primarily due to the 2026 acquisitions of Boyd Thermal for $9.55 billion and Ultra PCS for $1.53 billion. This led to total debt rising to approximately $20.61 billion at June 30, 2026, from $9.90 billion at December 31, 2025. The increased leverage, along with higher associated interest and amortization costs, contributed to a 16% year-over-year decline in GAAP net income attributable to ordinary shareholders in fiscal Q2 2026, reaching $821 million from $982 million, and diluted GAAP EPS falling to $2.11 from $2.51, despite robust adjusted earnings. This divergence between reported GAAP and adjusted profitability likely fueled investor caution and contributed to the stock's negative trend during the period.
Show less
Eaton (ETN) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Conservative Fiscal Q1 2026 Guidance and Negative Market Response.
Eaton reported its fiscal Q1 2026 earnings on May 5, 2026. While the company achieved strong sales, net income was lower year-over-year. More significantly, Eaton's full-year 2026 adjusted earnings guidance fell below Wall Street consensus estimates, which triggered a negative market reaction. This contributed to the stock experiencing a 4.08% decline on May 18, 2026.
2. Margin Pressures and Premium Valuation Concerns.
Analysts expressed concerns regarding potential margin compression and Eaton's valuation. During fiscal Q1 2026, segment operating margins contracted by 120 basis points, with Electrical Americas margins specifically decreasing by 440 basis points. This reduction in profitability, coupled with the stock trading at a premium valuation (e.g., a trailing price-to-earnings ratio of 37.82x compared to its 5-year median of 32.25x before the Q2 2026 report), made the stock susceptible to downward revisions and investor caution.
3. Increased Debt and Impact on GAAP Profitability from Acquisitions.
Eaton's balance sheet reflected a substantial increase in debt, primarily due to the 2026 acquisitions of Boyd Thermal for $9.55 billion and Ultra PCS for $1.53 billion. This led to total debt rising to approximately $20.61 billion at June 30, 2026, from $9.90 billion at December 31, 2025. The increased leverage, along with higher associated interest and amortization costs, contributed to a 16% year-over-year decline in GAAP net income attributable to ordinary shareholders in fiscal Q2 2026, reaching $821 million from $982 million, and diluted GAAP EPS falling to $2.11 from $2.51, despite robust adjusted earnings. This divergence between reported GAAP and adjusted profitability likely fueled investor caution and contributed to the stock's negative trend during the period.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -3.8% change in ETN stock from 4/30/2026 to 8/2/2026 was primarily driven by a -6.1% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8022026 | Change |
|---|---|---|---|
| Stock Price ($) | 431.82 | 415.20 | -3.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27,448 | 28,522 | 3.9% |
| Net Income Margin (%) | 14.9% | 14.0% | -6.1% |
| P/E Multiple | 41.0 | 40.4 | -1.5% |
| Shares Outstanding (Mil) | 388 | 388 | 0.1% |
| Cumulative Contribution | -3.8% |
Market Drivers
4/30/2026 to 8/2/2026| Return | Correlation | |
|---|---|---|
| ETN | -3.8% | |
| Market (SPY) | 3.9% | 63.3% |
| Sector (XLI) | 3.0% | 73.6% |
Fundamental Drivers
The 18.8% change in ETN stock from 1/31/2026 to 8/2/2026 was primarily driven by a 16.8% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8022026 | Change |
|---|---|---|---|
| Stock Price ($) | 349.36 | 415.20 | 18.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 26,633 | 28,522 | 7.1% |
| Net Income Margin (%) | 14.7% | 14.0% | -5.1% |
| P/E Multiple | 34.6 | 40.4 | 16.8% |
| Shares Outstanding (Mil) | 389 | 388 | 0.2% |
| Cumulative Contribution | 18.8% |
Market Drivers
1/31/2026 to 8/2/2026| Return | Correlation | |
|---|---|---|
| ETN | 18.8% | |
| Market (SPY) | 8.3% | 58.9% |
| Sector (XLI) | 9.0% | 73.4% |
Fundamental Drivers
The 9.2% change in ETN stock from 7/31/2025 to 8/2/2026 was primarily driven by a 12.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8022026 | Change |
|---|---|---|---|
| Stock Price ($) | 380.33 | 415.20 | 9.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 25,312 | 28,522 | 12.7% |
| Net Income Margin (%) | 15.6% | 14.0% | -10.1% |
| P/E Multiple | 37.9 | 40.4 | 6.6% |
| Shares Outstanding (Mil) | 392 | 388 | 1.0% |
| Cumulative Contribution | 9.2% |
Market Drivers
7/31/2025 to 8/2/2026| Return | Correlation | |
|---|---|---|
| ETN | 9.2% | |
| Market (SPY) | 19.2% | 58.4% |
| Sector (XLI) | 19.5% | 69.5% |
Fundamental Drivers
The 110.2% change in ETN stock from 7/31/2023 to 8/2/2026 was primarily driven by a 33.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8022026 | Change |
|---|---|---|---|
| Stock Price ($) | 197.50 | 415.20 | 110.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21,392 | 28,522 | 33.3% |
| Net Income Margin (%) | 12.0% | 14.0% | 16.6% |
| P/E Multiple | 30.7 | 40.4 | 31.8% |
| Shares Outstanding (Mil) | 398 | 388 | 2.7% |
| Cumulative Contribution | 110.2% |
Market Drivers
7/31/2023 to 8/2/2026| Return | Correlation | |
|---|---|---|
| ETN | 110.2% | |
| Market (SPY) | 68.9% | 66.3% |
| Sector (XLI) | 69.6% | 71.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ETN Return | 47% | -7% | 56% | 40% | -3% | 22% | 252% |
| Peers Return | 14% | 6% | 21% | 31% | 19% | 15% | 163% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| ETN Win Rate | 75% | 25% | 67% | 75% | 50% | 57% | |
| Peers Win Rate | 60% | 45% | 48% | 58% | 58% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| ETN Max Drawdown | -13% | -27% | -19% | -20% | -33% | -17% | |
| Peers Max Drawdown | -17% | -23% | -19% | -13% | -27% | -19% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: EMR, PH, HUBB, CMI, HON. See ETN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/31/2026 (YTD)
How Low Can It Go
| Event | ETN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.0% | -18.8% |
| % Gain to Breakeven | 25.1% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -16.4% | -7.8% |
| % Gain to Breakeven | 19.6% | 8.5% |
| Time to Breakeven | 45 days | 18 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 131 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.1% | -33.7% |
| % Gain to Breakeven | 79.0% | 50.9% |
| Time to Breakeven | 141 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.4% | -19.2% |
| % Gain to Breakeven | 34.0% | 23.8% |
| Time to Breakeven | 259 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.9% | -12.2% |
| % Gain to Breakeven | 26.4% | 13.9% |
| Time to Breakeven | 45 days | 62 days |
In The Past
Eaton's stock fell -20.0% during the 2025 US Tariff Shock. Such a loss loss requires a 25.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ETN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -20.0% | -18.8% |
| % Gain to Breakeven | 25.1% | 23.1% |
| Time to Breakeven | 35 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.0% | -24.5% |
| % Gain to Breakeven | 33.4% | 32.4% |
| Time to Breakeven | 131 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.1% | -33.7% |
| % Gain to Breakeven | 79.0% | 50.9% |
| Time to Breakeven | 141 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -25.4% | -19.2% |
| % Gain to Breakeven | 34.0% | 23.8% |
| Time to Breakeven | 259 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.9% | -12.2% |
| % Gain to Breakeven | 26.4% | 13.9% |
| Time to Breakeven | 45 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -29.4% | -6.8% |
| % Gain to Breakeven | 41.6% | 7.3% |
| Time to Breakeven | 193 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -32.7% | -17.9% |
| % Gain to Breakeven | 48.6% | 21.8% |
| Time to Breakeven | 123 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -68.2% | -53.4% |
| % Gain to Breakeven | 214.2% | 114.4% |
| Time to Breakeven | 603 days | 1085 days |
In The Past
Eaton's stock fell -20.0% during the 2025 US Tariff Shock. Such a loss loss requires a 25.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Eaton (ETN)
Eaton is a global power management company that provides solutions across electrical, aerospace, vehicle, and eMobility sectors. At its core, Eaton helps customers worldwide effectively manage electrical power. Its extensive Electrical Americas and Global segments offer a vast array of products including electrical components, power distribution systems, circuit protection devices, power quality equipment, and utility solutions. These offerings cater to a broad spectrum of clients, from residential and commercial buildings to industrial facilities and utility grids, ensuring reliable and safe power delivery.
Beyond electrical systems, Eaton is a key supplier to several critical industries. Its Aerospace segment develops specialized hydraulic power systems, pumps, valves, and fuel systems for commercial and military aircraft manufacturers and their aftermarket needs. For the traditional vehicle industry, Eaton provides essential components like transmissions, clutches, engine valves, and hybrid power systems. Furthermore, its eMobility segment focuses on advanced power electronics and distribution systems specifically designed for electric and hybrid vehicles, supporting the transition to electrified transportation.
Collectively, Eaton's diverse portfolio provides essential components and systems that enable efficient and safe operation across numerous applications. From ensuring reliable power delivery in buildings and utilities, to supporting critical flight systems, enhancing vehicle performance, and facilitating the growth of electric transportation, Eaton serves a wide global customer base that relies on its engineered solutions for effective and sustainable power management.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe Eaton (ETN):
- It's like the "Intel Inside" for the essential power management and motion systems in everything from electrical grids to airplanes.
- Imagine a highly diversified industrial technology company, similar to a B2B version of Bosch, specializing in the electrical and hydraulic components that power factories, aircraft, and vehicles.
- A crucial supplier of the fundamental power electronics and controls for electric vehicles, playing a "behind-the-scenes" role much like NVIDIA does for AI computing.
AI Analysis | Feedback
- **Electrical Distribution and Control Equipment:** Includes electrical components, industrial components, power distribution and assemblies, residential products, wiring devices, and circuit protection.
- **Power Quality and Reliability Solutions:** Provides single and three phase power quality, connectivity products, utility power distribution, and power reliability equipment.
- **Specialized Electrical and Safety Systems:** Offers hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.
- **Aerospace Hydraulic and Fluid Systems:** Covers pumps, motors, hydraulic power units, hoses, fittings, valves, cylinders, and electro-hydraulic pumps.
- **Aerospace Aircraft Systems:** Provides electronic controls, electromechanical actuators, sensors, aircraft flap and slat systems, nose wheel steering systems, air-to-air refueling, fuel systems, oxygen generation, and thermal management products.
- **Aerospace Wiring and Filtration:** Includes wiring connectors and cables, as well as hydraulic and bag filters, strainers, and cartridges.
- **Vehicle Powertrain and Drivetrain Components:** Manufactures transmissions, clutches, hybrid power systems, superchargers, engine valves, valve actuation systems, locking and limited slip differentials, and transmission controls.
- **eMobility Power Electronics and Systems:** Delivers voltage inverters, converters, fuses, onboard chargers, circuit protection units, vehicle controls, power distribution systems, and commercial vehicle hybrid systems.
- **Golf Grips:** A product line for manufacturers of golf equipment.
AI Analysis | Feedback
```html
Eaton (ETN) primarily sells its products and services to other companies (B2B) across a diverse range of industries. While specific "major customers" (accounting for a significant portion of revenue) are not disclosed in the provided background, the company description clearly indicates the types of businesses and sectors it serves. Therefore, its customers are generally other companies operating in these sectors. Examples of such companies include:
- Aerospace and Defense Manufacturers: Companies that build commercial and military aircraft, and related after-market services.
- Automotive and Commercial Vehicle Manufacturers: Companies that produce cars, trucks, buses, and off-highway vehicles, including electric vehicles for the eMobility segment.
- Industrial, Utility, and Construction Companies: Entities involved in manufacturing, power generation, transmission, distribution, data centers, and various construction projects.
- Examples: Utilities such as Duke Energy (DUK), large industrial manufacturers, electrical contractors, and data center operators.
AI Analysis | Feedback
null
AI Analysis | Feedback
Paulo Ruiz, Chief Executive Officer
Paulo Ruiz will assume the role of Chief Executive Officer of Eaton on June 1, 2025. He was appointed President and Chief Operating Officer on September 2, 2024, at which time he also joined the company's board of directors. Prior to this, Ruiz served as president and chief operating officer of Eaton's Industrial Sector, overseeing businesses such as Aerospace, Vehicle, Mobility, Filtration, and Golf Pride, as well as operations in the Asia-Pacific, Central, and South American regions. His earlier roles at Eaton include leading the Energy Solutions and Services business in the Americas and serving as President of the Hydraulics Group. Before joining Eaton in 2019, Ruiz held various strategic positions globally with Siemens, including serving as CEO of Dresser–Rand.
David Foster, Executive Vice President and Chief Financial Officer
David Foster was appointed Executive Vice President and Chief Financial Officer, effective March 2, 2026. He rejoined Eaton after a 29-year career with the company, having retired in 2022. During his extensive tenure at Eaton, he held numerous senior finance positions across the company's finance organization in the Asia Pacific region and the United States. His responsibilities included financial planning and analysis, controllership, corporate development, treasury, and mergers and acquisitions. His last role before retiring in 2022 was senior vice president, Finance and Planning, Industrial Sector.
Heath Monesmith, President and Chief Operating Officer, Electrical Sector
Heath Monesmith serves as President and Chief Operating Officer of Eaton’s Electrical Sector. In this capacity, he is responsible for the company's global electrical business and has corporate responsibility for the Europe, Middle East, and Africa region. Prior to his current role, Monesmith was president and chief operating officer for Eaton's Industrial Sector. Before leading the Industrial Sector, he served as Executive Vice President and General Counsel for Eaton, overseeing all legal matters and advising the Board of Directors. Monesmith joined Eaton in 2012 as part of the Cooper Industries acquisition, where he had previously held roles including vice president, chief legal counsel, Litigation, and executive vice president, Human Resources.
Peter Denk, President and Chief Operating Officer, Industrial Sector
Peter Denk is set to become President and Chief Operating Officer of Eaton's Industrial Sector, effective January 1, 2025. In this role, he will oversee the Aerospace, Mobility, Filtration, and Golf Pride businesses. Denk joined Eaton in 2018 and most recently served as president of the Mobility Group. Prior to his time at Eaton, he gained nearly 20 years of experience in various leadership roles at Robert Bosch LLC.
AI Analysis | Feedback
One key risk to Eaton's business is the accelerating global shift away from internal combustion engine (ICE) vehicles towards electric vehicles (EVs). Eaton's Vehicle segment provides transmissions, clutches, superchargers, engine valves, and other components primarily for traditional vehicle powertrains. As the automotive industry transitions to EVs, demand for these ICE-specific components may significantly decline, impacting a substantial part of Eaton's vehicle-related business.
AI Analysis | Feedback
The accelerated global shift towards electric vehicles (EVs) presents a clear emerging threat to Eaton's Vehicle segment. Many of the products listed within this segment, such as transmissions, clutches, superchargers, and engine valves, are primarily designed for internal combustion engine (ICE) vehicles. As the automotive industry increasingly transitions to electric powertrains, the demand for these ICE-specific components will significantly decline, potentially rendering a substantial portion of the Vehicle segment's product portfolio obsolete.
AI Analysis | Feedback
Eaton (symbol: ETN) operates in diverse power management markets. The addressable market sizes for its main products and services, where available, are detailed below:
-
Electrical Americas and Electrical Global Segments:
- Electrical components and Industrial components: The global industrial electrical component market size was valued at USD 528.22 billion in 2024. Other estimates for the global industrial electrical component market include USD 63.49 billion in 2025, projected to reach USD 162.41 billion by 2034, and USD 57.20 billion in 2025, expected to reach USD 90.48 billion by 2030. The broader electrical components market is estimated to reach USD 1,575.92 billion by 2031.
- Power distribution and assemblies / Utility power distribution products: The global power distribution component market size was estimated at USD 287.7 billion in 2024 and is projected to reach USD 613.2 billion by 2034. The global electric power transmission and distribution equipment market size was valued at USD 259.98 billion in 2025 and is set to surpass USD 483.46 billion by 2035.
- Power quality and connectivity products: null
- Circuit protection products: The global circuit protection market size was valued at USD 57.10 billion in 2024 and is expected to reach USD 94.84 billion by 2033. Another estimate for the global circuit protection market size was USD 58.76 billion in 2025, projected to reach USD 64.43 billion in 2026.
- Emergency lighting: The global emergency lighting market size was valued at USD 8.45 billion in 2025 and is projected to grow to USD 15.66 billion by 2034. Another report indicated the global emergency lighting market size was USD 7.5 billion in 2023 and is expected to reach USD 19 billion by 2032.
- Fire detection: null
-
Aerospace Segment:
- Pumps, motors, hydraulic power units, valves, cylinders, electronic controls, electromechanical actuators, sensors, aircraft flap and slat systems, and nose wheel steering systems: null
- Hoses and fittings, thermoplastic tubing products, fittings, adapters, couplings, and sealing and ducting products: null
- Air-to-air refueling systems, fuel pumps, fuel inerting products, sensors, valves, and adapters and regulators (Aircraft Fuel Systems): The global aircraft fuel systems market size is calculated at USD 10.71 billion in 2025 and is predicted to increase to approximately USD 20.54 billion by 2035. Other sources indicated the global aircraft fuel system market size was valued at USD 10.6 billion in 2024, projected to reach USD 17.3 billion by 2034, and USD 10.33 billion in 2025, projected to grow to USD 17.89 billion by 2034.
- Oxygen generation system, payload carriages, and thermal management products: null
- Wiring connectors and cables: null
- Hydraulic and bag filters, strainers and cartridges: null
-
Vehicle Segment:
- Transmissions: The global automotive transmission market size was valued at USD 207.30 billion in 2025 and is projected to grow to USD 495.54 billion by 2034. The global automotive gear transmission market size was valued at USD 142.5 billion in 2025 and is projected to reach USD 218.4 billion by 2034.
- Clutches: The global automotive clutch market size was valued at USD 23.32 billion in 2025, projected to reach USD 32.17 billion by 2031. Other estimates for the global automotive clutch market include USD 14.96 billion in 2025, projected to reach USD 21.27 billion by 2034, and USD 15.39 billion in 2026, expected to reach USD 20.51 billion by 2031.
- Hybrid power systems: null
- Superchargers: The global automotive supercharger market size is estimated to be valued at USD 9.0 billion in 2025 and is projected to reach USD 14.5 billion by 2035. Other figures for the global automotive supercharger market include USD 8.82 billion in 2025, growing to USD 12.43 billion by 2031, and USD 8.73 billion in 2025, projected to grow to USD 14.33 billion by 2034.
- Engine valves and valve actuation systems: The global automotive valves market size was valued at USD 26.6 billion in 2023, and is projected to reach USD 51.9 billion by 2033. More specifically, the global automotive engine valve market size was estimated at USD 5.45 billion in 2024 and is projected to reach USD 8.32 billion by 2033.
- Locking and limited slip differentials (Automotive Differentials): The global automotive differential market was valued at USD 25.7 billion in 2025 and is expected to grow to USD 40.2 billion by 2035. Other reports indicated the global automotive differential market size was valued at USD 24.79 billion in 2024 and is projected to attain around USD 38.53 billion by 2034, and USD 23.9 billion in 2025, expected to reach USD 36.3 billion by 2034.
- Transmission controls: null
- Fuel vapor components: null
-
eMobility Segment:
- Voltage inverters, converters, fuses, onboard chargers, circuit protection units, vehicle controls, power distribution systems, fuel tank isolation valves, and commercial vehicle hybrid systems: null
AI Analysis | Feedback
Eaton (ETN) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
- Global Electrification and Digitalization Trends: Eaton is strategically positioned to capitalize on the increasing worldwide demand for electrification and digitalization. This includes accelerating the transition to renewable energy sources and addressing critical power management challenges, which are core to Eaton's intelligent power management solutions.
- Booming Data Center Demand, particularly driven by AI Infrastructure: There is exceptionally robust and accelerating demand from data centers, especially those supporting Artificial Intelligence (AI) projects. This trend significantly boosts demand for Eaton's electrical components and power quality products within its Electrical Americas and Electrical Global segments. Eaton has expanded its revenue opportunities per megawatt of data center capacity by moving into advanced "white space" and liquid cooling solutions for AI applications.
- North American Infrastructure Investment and Reshoring Initiatives: Major government initiatives in the United States, such as the CHIPS Act, the Infrastructure Investment and Jobs Act (IIJA), and the Inflation Reduction Act (IRA), are driving significant reindustrialization efforts and large-scale industrial and power projects. Eaton is well-positioned to benefit from these investments, leading to increased demand for its equipment and services.
- Strong and Growing Backlog: Eaton consistently reports a substantial and expanding backlog across its key segments, particularly in its Electrical and Aerospace businesses. This robust backlog provides strong visibility and a solid foundation for realizing future revenue growth.
AI Analysis | Feedback
Eaton (ETN) has made the following capital allocation decisions over the last 3-5 years:
Share Repurchases
- Eaton authorized a new $9.0 billion share repurchase program in February 2025, with approximately $7.6 billion remaining available as of December 31, 2025.
- The company repurchased $1.9 billion in shares in 2025.
- In 2024, Eaton repurchased $2.492 billion in shares.
Share Issuance
- Eaton has not undertaken significant share issuance for capital raising purposes in the last 3-5 years. The number of shares outstanding decreased by 2.05% in 2025 and 0.42% in 2024, primarily reflecting the impact of share repurchases.
Outbound Investments
- Eaton has actively pursued strategic acquisitions, with major recent and planned investments including the agreement to acquire Boyd Thermal for $9.5 billion (expected Q2 2026) and the acquisition of Ultra PCS Limited for $1.53 billion (January 2026).
- Other significant acquisitions in the last 3-5 years include Fibrebond Corporation for $1.43 billion (March 2025), Resilient Power Systems (July 2025), Cobham Mission Systems for $2.83 billion (February 2021), and Tripp Lite for $1.65 billion (January 2021).
- The company also plans to spin off its Mobility business (Vehicle and eMobility segments) by the end of Q1 2027, focusing on its electrical and aerospace sectors.
Capital Expenditures
- Eaton's capital expenditures were $919 million in 2025 and $808 million in 2024.
- The company is investing $1.5 billion to ramp up capacity, with the majority of these investments expected to be complete in 2024 and 2025.
- The primary focus of these expenditures is to support growing demand, electrification, energy transition, digitalization, and expansion of production capacity across various markets, including a 10-year plan for $3 billion in R&D for sustainable products.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| How To Earn 11% On ETN Stock And Set A 30% Safety Net | 07/15/2026 | |
| The Two-Sided Risk You Already Own in Eaton Stock | 06/10/2026 | |
| NXT Beats Eaton Stock on Price & Growth | 06/06/2026 | |
| Nextpower vs Eaton: Which Is the Stronger Buy Today? | 06/06/2026 | |
| How to Get Paid to Buy ETN at a Steep Discount | 06/02/2026 | |
| Eaton Earnings Notes | 05/02/2026 | |
| The Smart Way to Own ETN: Collect 9.0% Before You Even Buy | 04/28/2026 | |
| How Does Eaton Stock Stack Up Against Its Peers? | 03/05/2026 | |
| Can Eaton Stock Recover If Markets Fall? | 03/05/2026 | |
| ARTICLES | ||
| Stronger Bet Than Eaton Stock: NXT Delivers More | 06/06/2026 | |
| Eaton vs Nextpower: Which Stock Could Rally? | 06/06/2026 | |
| Stronger Bet Than Generac Stock: ETN, EMR Deliver More | 06/03/2026 | |
| How Will Eaton Stock React To Its Upcoming Earnings? | 05/02/2026 | |
| S&P 500 Stocks Trading At 52-Week High | 05/01/2026 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 443.88 |
| Mkt Cap | 85.9 |
| Rev LTM | 24,754 |
| Op Inc LTM | 4,120 |
| FCF LTM | 3,396 |
| FCF 3Y Avg | 2,755 |
| CFO LTM | 4,014 |
| CFO 3Y Avg | 3,310 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.7% |
| Rev Chg 3Y Avg | 5.7% |
| Rev Chg Q | 7.4% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Inc Chg LTM | 9.1% |
| Op Inc Chg 3Y Avg | 15.1% |
| Op Mgn LTM | 19.1% |
| Op Mgn 3Y Avg | 18.2% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 16.9% |
| CFO/Rev 3Y Avg | 16.4% |
| FCF/Rev LTM | 13.9% |
| FCF/Rev 3Y Avg | 13.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 85.9 |
| P/S | 4.3 |
| P/Op Inc | 22.9 |
| P/EBIT | 22.2 |
| P/E | 33.6 |
| P/CFO | 23.5 |
| Total Yield | 4.3% |
| Dividend Yield | 1.2% |
| FCF Yield 3Y Avg | 3.3% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.8% |
| 3M Rtn | 3.3% |
| 6M Rtn | 3.8% |
| 12M Rtn | 12.4% |
| 3Y Rtn | 81.9% |
| 1M Excs Rtn | 0.9% |
| 3M Excs Rtn | -2.3% |
| 6M Excs Rtn | -4.9% |
| 12M Excs Rtn | -7.8% |
| 3Y Excs Rtn | 27.9% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Electrical Americas | 13,276 | 11,436 | 10,098 | 8,497 | 7,242 |
| Electrical Global | 6,815 | 6,248 | 6,084 | 5,848 | 5,516 |
| Aerospace | 4,249 | 3,744 | 3,413 | 3,039 | 2,648 |
| Vehicle | 2,505 | 2,790 | 2,965 | 2,830 | 2,579 |
| Mobility | 604 | 662 | 636 | 538 | 343 |
| Hydraulics | 0 | 1,300 | |||
| Total | 27,449 | 24,880 | 23,196 | 20,752 | 19,628 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Electrical Americas | 3,972 | 3,455 | 2,675 | 1,913 | 1,495 |
| Electrical Global | 1,323 | 1,149 | 1,176 | 1,134 | 1,034 |
| Aerospace | 1,013 | 859 | 780 | 705 | 580 |
| Vehicle | 419 | 502 | 482 | 453 | 449 |
| Mobility | -14 | -7 | -21 | -9 | -29 |
| Hydraulics | 0 | 177 | |||
| Total | 6,713 | 5,958 | 5,092 | 4,196 | 3,706 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Goodwill | 15,769 | 14,713 | 14,977 | 14,796 | 14,751 |
| Electrical Americas | 6,283 | 4,933 | 4,163 | 3,655 | 3,002 |
| Other intangible assets | 5,054 | 4,658 | 5,091 | 5,485 | 5,855 |
| Corporate | 4,902 | 5,833 | 6,243 | 3,929 | 3,906 |
| Electrical Global | 3,852 | 3,233 | 2,868 | 2,658 | 2,579 |
| Aerospace | 2,684 | 2,392 | 2,276 | 1,859 | 1,729 |
| Vehicle | 1,965 | 1,987 | 2,251 | 2,230 | 1,985 |
| Mobility | 743 | 633 | 563 | 402 | 220 |
| Total | 41,252 | 38,382 | 38,432 | 35,014 | 34,027 |
Price Behavior
Price Behavior
| Market Price | $415.20 | |
| Market Cap ($ Bil) | 161.2 | |
| First Trading Date | 06/01/1972 | |
| Distance from 52W High | -4.7% | |
| 50 Days | 200 Days | |
| DMA Price | $403.43 | $372.95 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 2.9% | 11.3% |
| 3M | 1YR | |
| Volatility | 51.9% | 37.9% |
| Downside Capture | 295.42 | 193.55 |
| Upside Capture | 241.07 | 162.48 |
| Correlation (SPY) | 63.3% | 58.6% |
ETN Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.75 | 2.51 | 2.39 | 1.83 | 1.71 | 1.48 |
| Up Beta | 5.66 | 2.71 | 2.38 | 1.99 | 1.53 | 1.41 |
| Down Beta | 0.76 | 2.35 | 1.75 | 1.89 | 1.75 | 1.44 |
| Up Capture | 242% | 315% | 268% | 222% | 223% | 454% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 12 | 24 | 34 | 70 | 134 | 415 |
| Down Capture | 259% | 209% | 250% | 151% | 147% | 109% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 10 | 19 | 29 | 56 | 118 | 338 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ETN | |
|---|---|---|---|---|
| ETN | 7.7% | 37.7% | 0.27 | - |
| Sector ETF (XLI) | 19.6% | 16.9% | 0.89 | 69.5% |
| Equity (SPY) | 18.8% | 12.9% | 1.07 | 58.5% |
| Gold (GLD) | 23.6% | 28.1% | 0.74 | 24.7% |
| Commodities (DBC) | 30.2% | 19.7% | 1.22 | -1.3% |
| Real Estate (VNQ) | 13.7% | 13.9% | 0.69 | 0.8% |
| Bitcoin (BTCUSD) | -46.8% | 43.0% | -1.34 | 26.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ETN | |
|---|---|---|---|---|
| ETN | 23.5% | 31.3% | 0.71 | - |
| Sector ETF (XLI) | 13.3% | 17.6% | 0.59 | 73.4% |
| Equity (SPY) | 12.6% | 17.1% | 0.56 | 65.9% |
| Gold (GLD) | 17.1% | 18.5% | 0.75 | 10.7% |
| Commodities (DBC) | 9.0% | 19.5% | 0.35 | 11.8% |
| Real Estate (VNQ) | 2.5% | 18.9% | 0.03 | 35.6% |
| Bitcoin (BTCUSD) | 13.4% | 53.3% | 0.43 | 24.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ETN | |
|---|---|---|---|---|
| ETN | 23.8% | 30.5% | 0.76 | - |
| Sector ETF (XLI) | 13.9% | 20.0% | 0.61 | 79.5% |
| Equity (SPY) | 15.0% | 17.9% | 0.71 | 71.2% |
| Gold (GLD) | 11.3% | 16.1% | 0.57 | 5.4% |
| Commodities (DBC) | 7.3% | 18.0% | 0.32 | 23.3% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 48.4% |
| Bitcoin (BTCUSD) | 57.6% | 66.2% | 0.98 | 16.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 7/31/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -2.7% | -0.5% | -0.0% |
| 2/3/2026 | 0.9% | 4.9% | -1.4% |
| 11/4/2025 | -2.3% | -1.5% | -12.1% |
| 8/5/2025 | -7.4% | -6.1% | -10.6% |
| 5/2/2025 | -0.6% | 2.1% | 6.1% |
| 1/31/2025 | -0.2% | -3.4% | -14.9% |
| 10/31/2024 | -3.3% | 5.1% | 9.8% |
| 8/1/2024 | -2.3% | -8.6% | -0.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 16 | 13 |
| # Negative | 11 | 7 | 10 |
| Median Positive | 3.2% | 5.0% | 9.5% |
| Median Negative | -2.3% | -1.5% | -5.3% |
| Max Positive | 7.5% | 10.9% | 19.4% |
| Max Negative | -7.4% | -8.6% | -14.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/5/2026 | -2.7% | -0.5% | -0.0% |
| 2/3/2026 | 0.9% | 4.9% | -1.4% |
| 11/4/2025 | -2.3% | -1.5% | -12.1% |
| 8/5/2025 | -7.4% | -6.1% | -10.6% |
| 5/2/2025 | -0.6% | 2.1% | 6.1% |
| 1/31/2025 | -0.2% | -3.4% | -14.9% |
| 10/31/2024 | -3.3% | 5.1% | 9.8% |
| 8/1/2024 | -2.3% | -8.6% | -0.9% |
| 4/30/2024 | -2.5% | 0.5% | 2.3% |
| 2/1/2024 | 7.5% | 10.9% | 19.4% |
| 10/31/2023 | 5.1% | 9.9% | 14.6% |
| 8/1/2023 | 6.7% | 8.1% | 11.5% |
| 5/2/2023 | 2.6% | 1.2% | 4.8% |
| 2/8/2023 | 2.7% | 5.2% | 6.5% |
| 11/1/2022 | 1.0% | 5.6% | 9.5% |
| 8/2/2022 | -0.8% | 0.3% | -5.1% |
| 5/3/2022 | 0.1% | 1.0% | -5.4% |
| 2/4/2022 | -3.7% | -1.3% | -7.0% |
| 11/2/2021 | 4.4% | 5.7% | -1.3% |
| 8/3/2021 | 4.0% | 4.3% | 8.1% |
| 5/4/2021 | 0.2% | 2.1% | 1.7% |
| 2/2/2021 | -0.9% | -1.1% | 11.5% |
| 11/3/2020 | 3.6% | 6.5% | 11.6% |
| SUMMARY STATS | |||
| # Positive | 12 | 16 | 13 |
| # Negative | 11 | 7 | 10 |
| Median Positive | 3.2% | 5.0% | 9.5% |
| Median Negative | -2.3% | -1.5% | -5.3% |
| Max Positive | 7.5% | 10.9% | 19.4% |
| Max Negative | -7.4% | -8.6% | -14.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 08/01/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 10/31/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/02/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/23/2022 | 10-K |
| 09/30/2021 | 11/02/2021 | 10-Q |
| 06/30/2021 | 08/03/2021 | 10-Q |
| 03/31/2021 | 05/04/2021 | 10-Q |
| 12/31/2020 | 02/24/2021 | 10-K |
| 09/30/2020 | 11/03/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/30/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
| 09/30/2019 | 10/29/2019 | 10-Q |
| 06/30/2019 | 07/30/2019 | 10-Q |
Recent Forward Guidance
Updated 8/1/2026Latest: Q2 2026 Earnings Reported 7/31/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Organic Growth | 13.5% | 14.5% | 15.5% | 4.5% | Higher New | Guidance: 10.0% for Q2 2026 | |
| Q3 2026 Segment Margins | 24.6% | 24.8% | 25.0% | 2.0% | Higher New | Guidance: 22.8% for Q2 2026 | |
| Q3 2026 EPS | 2.77 | 2.82 | 2.87 | 20.5% | Higher New | Guidance: 2.34 for Q2 2026 | |
| Q3 2026 Adjusted EPS | 3.46 | 3.51 | 3.56 | 15.1% | Higher New | Guidance: 3.05 for Q2 2026 | |
| 2026 Organic Growth | 11.0% | 12.0% | 13.0% | 2.0% | Raised | Guidance: 10.0% for 2026 | |
| 2026 Segment Margins | 24.1% | 24.3% | 24.5% | 0.0% | Affirmed | Guidance: 24.3% for 2026 | |
| 2026 EPS | 10.4 | 10.5 | 10.6 | -5.8% | Lowered | Guidance: 11.1 for 2026 | |
| 2026 Adjusted EPS | 13.4 | 13.5 | 13.6 | 1.7% | Raised | Guidance: 13.3 for 2026 | |
Prior: Q1 2026 Earnings Reported 5/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Organic Growth | 9.0% | 10.0% | 11.0% | 66.7% | 4.0% | Higher New | Guidance: 6.0% for Q1 2026 |
| Q2 2026 Segment Margins | 22.6% | 22.8% | 23.0% | 0.4% | Higher New | Guidance: 22.4% for Q1 2026 | |
| Q2 2026 EPS | 2.29 | 2.34 | 2.39 | -2.1% | Lower New | Guidance: 2.39 for Q1 2026 | |
| Q2 2026 Adjusted EPS | 3 | 3.05 | 3.1 | 10.9% | Higher New | Guidance: 2.75 for Q1 2026 | |
| 2026 Organic Growth | 9.0% | 10.0% | 11.0% | 25.0% | 2.0% | Raised | Guidance: 8.0% for 2026 |
| 2026 Segment Margins | 24.1% | 24.3% | 24.5% | -0.5% | Lowered | Guidance: 24.8% for 2026 | |
| 2026 EPS | 10.9 | 11.1 | 11.3 | -6.0% | Lowered | Guidance: 11.8 for 2026 | |
| 2026 Adjusted EPS | 13.1 | 13.3 | 13.5 | 0.2% | Raised | Guidance: 13.2 for 2026 | |
Q4 2025 Earnings Reported 2/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Organic Growth | 5.0% | 6.0% | 7.0% | -45.4% | -5.0% | Lower New | Guidance: 11.0% for Q4 2025 |
| Q1 2026 Segment Margins | 22.2% | 22.4% | 22.6% | -2.0% | Lower New | Guidance: 24.4% for Q4 2025 | |
| Q1 2026 EPS | 2.29 | 2.39 | 2.49 | -16.1% | Lower New | Guidance: 2.85 for Q4 2025 | |
| Q1 2026 Adjusted EPS | 2.65 | 2.75 | 2.85 | -17.4% | Lower New | Guidance: 3.33 for Q4 2025 | |
| 2026 Organic Growth | 7.0% | 8.0% | 9.0% | -11.1% | -1.0% | Lower New | Guidance: 9.0% for 2025 |
| 2026 Segment Margins | 24.6% | 24.8% | 25.0% | 0.5% | Higher New | Guidance: 24.3% for 2025 | |
| 2026 EPS | 11.6 | 11.8 | 12.1 | 13.8% | Higher New | Guidance: 10.4 for 2025 | |
| 2026 Adjusted EPS | 13 | 13.2 | 13.5 | 9.8% | Higher New | Guidance: 12.1 for 2025 | |
Q3 2025 Earnings Reported 11/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Organic growth | 10.0% | 11.0% | 12.0% | 29.4% | 2.5% | Higher New | Guidance: 8.5% for Q3 2025 |
| Q4 2025 Segment margins | 24.2% | 24.4% | 24.6% | 0.1% | Higher New | Guidance: 24.3% for Q3 2025 | |
| Q4 2025 Earnings per share | 2.75 | 2.85 | 2.95 | 9.2% | Higher New | Guidance: 2.61 for Q3 2025 | |
| Q4 2025 Adjusted earnings per share | 3.23 | 3.33 | 3.43 | 9.5% | Higher New | Guidance: 3.04 for Q3 2025 | |
| 2025 Organic growth | 8.5% | 9.0% | 9.5% | 0.0% | Affirmed | Guidance: 9.0% for 2025 | |
| 2025 Segment margins | 24.1% | 24.3% | 24.5% | 0.0% | Affirmed | Guidance: 24.3% for 2025 | |
| 2025 Earnings per share | 10.3 | 10.4 | 10.5 | -1.1% | Lowered | Guidance: 10.5 for 2025 | |
| 2025 Adjusted earnings per share | 12 | 12.1 | 12.2 | 0.0% | Affirmed | Guidance: 12.1 for 2025 | |
Insider Activity
Updated 5/22/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Thompson, Dorothy C | Direct | Sell | 5222026 | 385.00 | 167 | 64,295 | 421,960 | Form | |
| 2 | Galvao, Antonio | See Remarks below. | Direct | Sell | 5142026 | 405.86 | 494 | 200,492 | 3,723,720 | Form |
| 3 | Johnson, Gerald | Direct | Buy | 5122026 | 419.02 | 215 | 90,089 | 682,584 | Form | |
| 4 | Johnson, Gerald | Direct | Buy | 5122026 | 402.29 | 746 | 300,108 | 568,838 | Form | |
| 5 | Monesmith, Heath B | See Remarks below. | Direct | Sell | 5082026 | 409.11 | 18,367 | 7,514,074 | 20,382,544 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Thompson, Dorothy C | Direct | Sell | 5222026 | 385.00 | 167 | 64,295 | 421,960 | Form | |
| 2 | Galvao, Antonio | See Remarks below. | Direct | Sell | 5142026 | 405.86 | 494 | 200,492 | 3,723,720 | Form |
| 3 | Johnson, Gerald | Direct | Buy | 5122026 | 419.02 | 215 | 90,089 | 682,584 | Form | |
| 4 | Johnson, Gerald | Direct | Buy | 5122026 | 402.29 | 746 | 300,108 | 568,838 | Form | |
| 5 | Monesmith, Heath B | See Remarks below. | Direct | Sell | 5082026 | 409.11 | 18,367 | 7,514,074 | 20,382,544 | Form |
| 6 | Denk, Peter | See Remarks below. | Direct | Sell | 5082026 | 417.94 | 2,000 | 835,880 | 2,968,210 | Form |
| 7 | Yelton, Michael | See Remarks below. | Direct | Sell | 3032026 | 374.14 | 3,494 | 1,307,263 | 784,208 | Form |
| 8 | Ruiz, Sternadt Paulo | See Remarks below. | Direct | Sell | 2132026 | 390.26 | 10,707 | 4,178,495 | 10,821,470 | Form |
| 9 | Johnson, Gerald | Direct | Buy | 11192025 | 339.89 | 200 | 67,978 | 135,956 | Form | |
| 10 | Johnson, Gerald | Direct | Buy | 11042025 | 384.33 | 100 | 38,434 | 76,867 | Form | |
| 11 | Johnson, Gerald | Direct | Buy | 8122025 | 361.00 | 100 | 36,100 | 36,100 | Form | |
| 12 | Leonetti, Olivier | See Remarks below. | Direct | Sell | 8112025 | 358.39 | 16,018 | 5,740,688 | 225,786 | Form |
| 13 | Thompson, Dorothy C | Direct | Sell | 5212025 | 327.21 | 140 | 45,809 | 258,496 | Form | |
| 14 | Monesmith, Heath B | See Remarks below. | Direct | Sell | 5152025 | 330.89 | 9,103 | 3,012,128 | 20,076,993 | Form |
| 15 | Arnold, Craig | See Remarks below. | Direct | Sell | 5132025 | 322.75 | 103,486 | 33,400,593 | 158,216,935 | Form |
| 16 | Arnold, Craig | See Remarks below. | Direct | Sell | 5092025 | 305.43 | 51,054 | 15,593,465 | 149,491,279 | Form |
| 17 | Marshall, Ernest W JR | See Remarks below. | Direct | Sell | 5082025 | 300.05 | 16,650 | 4,995,799 | 10,808,028 | Form |
| 18 | Yelton, Michael | See Remarks below. | Direct | Sell | 5072025 | 296.87 | 2,120 | 629,364 | 1,004,014 | Form |
| 19 | Denk, Peter | See Remarks below. | Direct | Sell | 5072025 | 298.85 | 1,315 | 392,988 | 1,861,836 | Form |
Investor Activity (13F)
Updated Aug 3, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| J. Stern & Co. LLP | $61.4 Mil | 5.9% | 49 | TRIM -99.7% | 13F |
| Regents Gate Capital LLP | $17.4 Mil | 3.7% | 36 | ADD +6.2% | 13F |
| Raub Brock Capital Management LP | $13.5 Mil | 3.4% | 43 | ADD +48.9% | 13F |
| Haverford Financial Services, Inc. | $11.3 Mil | 3.4% | 46 | Hold | 13F |
| Cambridge Financial Group, Inc. | $7.9 Mil | 2.9% | 33 | Hold | 13F |
| Concord Investment Counsel Inc. | $8.7 Mil | 2.9% | 41 | Hold | 13F |
| Troluce Capital Advisors LLC | $26.8 Mil | 2.8% | 46 | New | 13F |
| Clean Energy Transition LLP | $31.7 Mil | 2.6% | 14 | New | 13F |
| Cartenna Capital, LP | $59.0 Mil | 2.6% | 41 | New | 13F |
| First Washington CORP | $6.3 Mil | 1.8% | 50 | Hold | 13F |
| Coleford Investment Management Ltd. | $5.7 Mil | 1.4% | 24 | New | 13F |
| National Mutual Insurance Federation of Agricultural Cooperatives | $30.2 Mil | 0.2% | 41 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Cartenna Capital, LP | $59.0 Mil | 2.6% | 41 | New | 13F |
| Clean Energy Transition LLP | $31.7 Mil | 2.6% | 14 | New | 13F |
| Troluce Capital Advisors LLC | $26.8 Mil | 2.8% | 46 | New | 13F |
| Coleford Investment Management Ltd. | $5.7 Mil | 1.4% | 24 | New | 13F |
| Raub Brock Capital Management LP | $13.5 Mil | 3.4% | 43 | ADD +48.9% | 13F |
| Regents Gate Capital LLP | $17.4 Mil | 3.7% | 36 | ADD +6.2% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| J. Stern & Co. LLP | $61.4 Mil | 5.9% | 49 | TRIM -99.7% | 13F |
| Cartenna Capital, LP | $59.0 Mil | 2.6% | 41 | New | 13F |
| Clean Energy Transition LLP | $31.7 Mil | 2.6% | 14 | New | 13F |
| National Mutual Insurance Federation of Agricultural Cooperatives | $30.2 Mil | 0.2% | 41 | Hold | 13F |
| Troluce Capital Advisors LLC | $26.8 Mil | 2.8% | 46 | New | 13F |
| Regents Gate Capital LLP | $17.4 Mil | 3.7% | 36 | ADD +6.2% | 13F |
| Raub Brock Capital Management LP | $13.5 Mil | 3.4% | 43 | ADD +48.9% | 13F |
| Haverford Financial Services, Inc. | $11.3 Mil | 3.4% | 46 | Hold | 13F |
| Concord Investment Counsel Inc. | $8.7 Mil | 2.9% | 41 | Hold | 13F |
| Cambridge Financial Group, Inc. | $7.9 Mil | 2.9% | 33 | Hold | 13F |
| First Washington CORP | $6.3 Mil | 1.8% | 50 | Hold | 13F |
| Coleford Investment Management Ltd. | $5.7 Mil | 1.4% | 24 | New | 13F |
Eaton — Investor Video Playlist
Investor / Analyst
Eaton Corp Q2 FY26 Earnings Call | $ETN | 🔴 WATCH LIVE
Products & Services
Design Smarter Commercial Buildings with Eaton
Products & Services
Solutions for data center cooling OEMs
Products & Services
DER integration in microgrids: PSEC energy optimization demo | Eaton PSEC
Products & Services
Eaton PredictPulse Remote Monitoring service
Products & Services
Introducing Eaton's MVSST for EV charging infrastructure applications
Products & Services
Introducing Eaton's MVSST for data center applications
Investor / Analyst
🔵🇺🇸 ETN Earnings Call Analysis Q4 FY2025 | Eaton Corp PLC - Eaton Spins Off Mobility to Power AI
Investor / Analyst
Eaton Corporation plc ETN Q4 2025 Earnings Call
Investor / Analyst
Eaton (ETN) Q3 2025 Earnings & $9.5 Billion Acquisition of Boyd Thermal Stock Slides Lower
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Electrical Components & Equipment Resources |
| EC&M (Electrical Construction & Maintenance) |
| Electrical Contracting News (ECN) |
| EE Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 8/2/2026