financial statements

The full income statement, balance sheet, and cash-flow statement for Eaton Corporation plc (ETN), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	27.4B YoY+10.3%	24.9B YoY+7.3%	23.2B YoY+11.8%	20.8B YoY+5.7%	19.6B YoY+9.9%
Cost of revenue	17.1B YoY+11.4%	15.4B YoY+4.2%	14.8B YoY+6.5%	13.9B YoY+4.3%	13.3B YoY+7.1%
Research & development	797M YoY+0.4%	794M YoY+5.3%	754M YoY+13.4%	665M YoY+8.0%	616M YoY+11.8%
Selling, general & administrative	4.31B YoY+5.7%	4.08B YoY+7.4%	3.79B YoY+17.6%	3.23B YoY-0.9%	3.26B YoY+5.9%
Restructuring	133M YoY-34.2%	202M YoY+254.4%	57.0M YoY+72.7%	33.0M YoY-57.7%	78.0M YoY-63.6%
Amortization of intangibles	—	—	432M YoY-10.6%	483M YoY+12.1%	431M YoY+26.0%
Interest expense	241M YoY+85.4%	130M YoY-13.9%	151M	—	144M YoY-3.4%
Net interest income	—	—	-151M YoY-4.9%	-144M YoY+0.0%	-144M YoY+3.4%
Other non-operating income	-37.0M YoY-157.8%	64.0M YoY-31.2%	93.0M YoY+158.3%	36.0M YoY+190.0%	-40.0M YoY+73.3%
Equity-method income	8.00M YoY-33.3%	12.0M YoY-40.0%	20.0M YoY+500.0%	-5.00M	—
Pre-tax income	4.93B YoY+8.0%	4.57B YoY+19.3%	3.83B YoY+31.5%	2.91B YoY+0.5%	2.90B YoY+65.9%
Income tax	841M YoY+9.5%	768M YoY+27.2%	604M YoY+35.7%	445M YoY-40.7%	750M YoY+126.6%
	4.09B YoY+7.7%	3.79B YoY+17.9%	3.22B YoY+30.7%	2.46B YoY+14.8%	2.14B YoY+52.1%
Net income to non-controlling interest	3.00M YoY-25.0%	4.00M YoY-20.0%	5.00M YoY+25.0%	4.00M YoY+100.0%	2.00M YoY-60.0%
	$10.45 YoY+10.0%	$9.50 YoY+18.5%	$8.02 YoY+30.6%	$6.14 YoY+15.0%	$5.34 YoY+53.0%
EPS (basic)	$10.48 YoY+9.9%	$9.54 YoY+18.4%	$8.06 YoY+30.6%	$6.17 YoY+14.7%	$5.38 YoY+53.3%
Weighted-avg shares (basic)	390M YoY-1.9%	398M YoY-0.4%	399M YoY+0.1%	399M YoY+0.0%	399M YoY-0.9%
Weighted-avg shares (diluted)	391M YoY-2.1%	399M YoY-0.4%	401M YoY+0.1%	401M YoY-0.2%	402M YoY-0.6%
Dividends per share	$4.16 YoY+10.6%	$3.76 YoY+9.3%	$3.44 YoY+6.2%	$3.24 YoY+6.6%	$3.04 YoY+4.1%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	12.4B YoY+4.7%	11.8B YoY+1.1%	11.7B YoY+33.5%	8.75B YoY+16.4%	7.51B YoY-18.2%
Cash & equivalents	622M YoY+12.1%	555M YoY+13.7%	488M YoY+66.0%	294M YoY-1.0%	297M YoY-32.2%
Short-term investments	181M YoY-88.1%	1.52B YoY-28.1%	2.12B YoY+712.6%	261M YoY-3.7%	271M YoY-59.2%
Accounts receivable	5.39B YoY+16.6%	4.62B YoY+3.2%	4.47B YoY+9.8%	4.08B YoY+23.6%	3.30B YoY+13.5%
Inventory	4.72B YoY+11.7%	4.23B YoY+13.1%	3.74B YoY+9.0%	3.43B YoY+15.5%	2.97B YoY+40.8%
Prepaid expenses	1.44B YoY+65.2%	874M YoY+2.7%	851M YoY+24.2%	685M YoY+1.2%	677M YoY+17.5%
	41.3B YoY+7.5%	38.4B YoY-0.1%	38.4B YoY+9.8%	35.0B YoY+2.9%	34.0B YoY+6.9%
Property, plant & equipment	4.32B YoY+15.7%	3.73B YoY+5.6%	3.53B YoY+12.2%	3.15B YoY+2.7%	3.06B YoY+3.4%
Operating lease right-of-use	768M YoY-4.7%	806M YoY+24.4%	648M YoY+13.7%	570M YoY+29.0%	442M YoY+3.3%
Goodwill	15.8B YoY+7.2%	14.7B YoY-1.8%	15.0B YoY+1.2%	14.8B YoY+0.3%	14.8B YoY+14.3%
Intangible assets	5.05B YoY+8.5%	4.66B YoY-8.5%	5.09B YoY-7.2%	5.49B YoY-6.3%	5.86B YoY+40.2%
Deferred tax assets	707M YoY+16.1%	609M YoY+33.0%	458M YoY+38.8%	330M YoY-15.8%	392M YoY-8.0%
Other non-current assets	2.28B YoY+10.4%	2.07B YoY+0.7%	2.05B YoY+5.8%	1.94B YoY-3.6%	2.01B YoY+15.0%
	9.37B YoY+19.3%	7.86B YoY+1.4%	7.75B YoY+21.8%	6.36B YoY-11.8%	7.21B YoY+22.6%
Accounts payable	4.17B YoY+13.3%	3.68B YoY+9.3%	3.37B YoY+9.5%	3.07B YoY+9.8%	2.80B YoY+40.8%
Deferred revenue	899M YoY+49.3%	602M YoY-1.3%	610M YoY+24.7%	489M YoY+23.8%	395M YoY+71.7%
Short-term & current debt	1.00M	0.00 YoY-100.0%	8.00M YoY-97.5%	324M YoY+2392.3%	13.0M YoY+1200.0%
Current lease liability	152M YoY-6.7%	163M YoY+20.7%	135M YoY+6.3%	127M YoY+5.8%	120M YoY+3.4%
Other current liabilities	3.42B YoY+20.7%	2.83B YoY+5.8%	2.68B YoY+7.7%	2.49B YoY+14.9%	2.17B YoY+6.9%
Long-term debt	9.89B YoY+8.1%	9.15B YoY-1.2%	9.26B YoY+11.2%	8.33B YoY-2.7%	8.57B YoY+6.3%
Non-current lease liability	637M YoY-4.8%	669M YoY+25.5%	533M YoY+16.1%	459M YoY+36.2%	337M YoY+3.4%
Deferred tax liabilities	265M YoY-3.6%	275M YoY-31.6%	402M YoY-24.2%	530M YoY-5.2%	559M YoY+101.8%
Other non-current liabilities	1.89B YoY+13.3%	1.67B YoY+12.0%	1.49B YoY+3.1%	1.44B YoY-3.9%	1.50B YoY+4.4%
Total non-current liabilities	12.4B YoY+3.5%	12.0B YoY+3.3%	11.6B YoY+0.3%	11.6B YoY+11.7%	10.4B YoY-5.5%
	19.4B YoY+5.1%	18.5B YoY-2.9%	19.0B YoY+11.7%	17.0B YoY+3.8%	16.4B YoY+9.9%
Additional paid-in capital	12.8B YoY+0.8%	12.7B YoY+0.8%	12.6B YoY+1.0%	12.5B YoY+0.5%	12.4B YoY+1.0%
Retained earnings	10.7B YoY+6.0%	10.1B YoY-2.0%	10.3B YoY+21.7%	8.47B YoY+11.5%	7.59B YoY+11.8%
Accumulated other comprehensive income	-4.12B YoY+5.2%	-4.34B YoY-11.2%	-3.91B YoY+1.0%	-3.95B YoY-8.6%	-3.63B YoY+13.4%
Non-controlling interest	44.0M YoY+2.3%	43.0M YoY+30.3%	33.0M YoY-13.2%	38.0M YoY+0.0%	38.0M YoY-11.6%
Total equity incl. non-controlling	19.5B YoY+5.1%	18.5B YoY-2.8%	19.1B YoY+11.7%	17.1B YoY+3.8%	16.5B YoY+9.9%
Total liabilities & equity	41.3B YoY+7.5%	38.4B YoY-0.1%	38.4B YoY+9.8%	35.0B YoY+2.9%	34.0B YoY+6.9%
Common shares issued	388M YoY-1.3%	393M YoY-1.6%	399M YoY+0.4%	398M YoY-0.3%	399M YoY+0.2%
Common shares outstanding	388M YoY-1.3%	393M YoY-1.6%	399M YoY+0.4%	398M YoY-0.3%	399M YoY+0.2%
Shares outstanding (cover)	388M YoY-1.7%	395M YoY-1.0%	399M YoY+0.4%	398M YoY-0.2%	399M YoY+0.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.47B YoY+3.4%	4.33B YoY+19.4%	3.62B YoY+43.1%	2.53B YoY+17.1%	2.16B YoY-26.5%
Depreciation & amortization	1.01B YoY+9.2%	921M YoY-0.5%	926M YoY-2.9%	954M YoY+3.5%	922M YoY+13.7%
Deferred income taxes	45.0M YoY+129.2%	-154M YoY+15.4%	-182M YoY-42.2%	-128M YoY-326.7%	-30.0M YoY+76.0%
Change in receivables	420M YoY+95.3%	215M YoY-37.0%	341M YoY-54.1%	743M YoY+174.2%	271M YoY+223.7%
Change in inventory	256M YoY-54.8%	566M YoY+100.7%	282M YoY-42.4%	490M YoY-22.1%	629M YoY+269.5%
Change in payables	332M YoY-16.8%	399M YoY+55.9%	256M YoY-23.4%	334M YoY-59.9%	832M YoY+994.7%
Other operating activities	146M YoY+71.8%	85.0M YoY+211.8%	-76.0M YoY-290.0%	40.0M YoY+81.8%	22.0M
	-1.10B YoY-306.3%	-271M YoY+89.5%	-2.58B YoY-114.6%	-1.20B YoY+32.0%	-1.76B YoY-544.3%
Capital expenditure	919M YoY+13.7%	808M YoY+6.7%	757M YoY+26.6%	598M YoY+4.0%	575M YoY+47.8%
Acquisitions	1.49B YoY+2880.0%	50.0M	0.00 YoY-100.0%	610M YoY-86.4%	4.50B YoY+2150.0%
Purchases of investments	16.0M YoY-77.1%	70.0M YoY+2.9%	68.0M YoY+61.9%	42.0M YoY-66.1%	124M YoY+552.6%
Proceeds from sale of PP&E	80.0M YoY-5.9%	85.0M YoY+11.8%	76.0M YoY-53.4%	163M YoY+270.5%	44.0M YoY+266.7%
Other investing activities	98.0M YoY+206.3%	32.0M YoY-50.8%	65.0M YoY-18.8%	80.0M YoY-11.1%	90.0M YoY+32.4%
	-3.17B YoY+19.4%	-3.94B YoY-351.9%	-871M YoY+35.0%	-1.34B YoY-150.5%	-535M YoY+83.6%
Net short-term debt	1.00M YoY+112.5%	-8.00M YoY+97.4%	-311M YoY-198.1%	317M YoY+1485.0%	20.0M YoY+107.9%
Common stock repurchased	1.86B YoY-25.3%	2.49B	0.00 YoY-100.0%	286M YoY+134.4%	122M YoY-92.4%
Dividends paid	1.63B YoY+8.4%	1.50B YoY+8.8%	1.38B YoY+6.2%	1.30B YoY+6.6%	1.22B YoY+3.7%
Other financing activities	-14.0M YoY-250.0%	-4.00M YoY+55.6%	-9.00M YoY+60.9%	-23.0M YoY-53.3%	-15.0M YoY-150.0%
FX effect on cash	-131M YoY-151.9%	-52.0M YoY-425.0%	16.0M YoY+300.0%	4.00M YoY+180.0%	-5.00M YoY+66.7%
Net change in cash	67.0M YoY+0.0%	67.0M YoY-65.5%	194M YoY+6566.7%	-3.00M YoY+97.9%	-141M YoY-307.4%
Interest paid	351M YoY+6.7%	329M YoY+3.1%	319M YoY+27.6%	250M YoY+20.8%	207M YoY-4.2%
Income taxes paid	909M YoY+20.9%	752M YoY+3.4%	727M YoY+85.0%	393M YoY-47.8%	753M YoY+92.6%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	124B YoY-5.7%	131B YoY+36.4%	96.2B YoY+54.1%	62.4B YoY-9.4%	68.9B YoY+43.8%
P/E	30.3× YoY-12.4%	34.6× YoY+7.7%	32.1× YoY+17.8%	27.2× YoY-15.2%	32.1× YoY-5.4%
P/S	4.5× YoY-14.5%	5.3× YoY+24.0%	4.3× YoY+37.4%	3.1× YoY-11.8%	3.5× YoY+30.9%
P/B	6.4× YoY-10.2%	7.1× YoY+35.6%	5.2× YoY+34.7%	3.9× YoY-7.4%	4.2× YoY+30.9%
P/FCF	34.8× YoY-6.6%	37.3× YoY+8.1%	34.5× YoY-12.2%	39.3× YoY-9.5%	43.4× YoY+131.4%
Earnings yield	3.3% YoY+14.2%	2.9% YoY-7.1%	3.1% YoY-15.1%	3.7% YoY+17.9%	3.1% YoY+5.7%
FCF yield	2.9% YoY+7.0%	2.7% YoY-7.5%	2.9% YoY+13.9%	2.5% YoY+10.5%	2.3% YoY-56.8%
Dividend yield	1.3% YoY+15.3%	1.1% YoY-20.7%	1.4% YoY-30.8%	2.1% YoY+17.4%	1.8% YoY-27.6%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: ETN's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ETN filings on SEC EDGAR → Not investment advice.

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financial statements