Eaton (ETN) stock
Industrials · Electrical Components & Equipment
Eaton (ETN) is an Electrical Components & Equipment company in the Industrials sector, headquartered in Dublin, Ireland. As of October 23, 2026, ETN closed at $366.11, a market capitalization of $142.20 billion, the 84th largest company in the S&P 500. Over the last twelve months it generated $30.03 billion in revenue (+21% year over year) and $3.93 billion in free cash flow. The stock trades at 37.2x trailing earnings and 22.5x forward earnings.
- 1-year total return: -0.6% (dividends reinvested)
- 5-year return: +19.5% a year
- 52-week range: $311.92 – $478.00
- Gross margin 36.0%, operating margin 16.6%
- Dividend yield: 1.20%, 16 straight years of increases
- FI Handbook report card: C+ across 10 metrics
- 8th largest of 83 Industrials stocks in the S&P 500
ETN price chart
1Y price change: -1.7% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| ETN | -16.6% | +15.9% | -0.6% | +24.8% | +19.5% | +21.6% | +13.7% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1972.
ETN key statistics
- Market cap
- $142.2B
- #84 in S&P 500
- P/E (TTM)
- 37.2x
- Forward P/E
- 22.5x
- EPS (TTM)
- $9.83
- Revenue (TTM)
- $30.0B
- +21%
- Free cash flow
- $3.9B
- Gross margin
- 36.0%
- Operating margin
- 16.6%
- Return on equity
- 19.7%
- Dividend yield
- 1.20%
- 52-week range
- $311.92 – $478.00
- Beta
- 1.13
- Price / sales
- 4.7x
- EV / EBITDA
- 24.5x
- Debt / equity
- 1.05x
- Employees
- 97,303
ETN report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth21.4%A
- Gross margin36.0%C
- Operating margin16.6%C
- FCF margin13.1%C
- Return on equity19.7%B
- Net debt / EBITDA3.1xD
- Forward P/E22.5xC
- PEG ratio2.7xD
- Shareholder yield2.5%C
- Share count change / yr-0.6%B
Eaton financials
Revenue went from $19.7B in fiscal 2016 to $27.4B in fiscal 2025, growing 3.7% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.7B | $20.4B | $21.6B | $21.4B | $17.9B | $19.6B | $20.8B | $23.2B | $24.9B | $27.4B |
| Gross profit | $6.4B | $6.6B | $7.1B | $7.1B | $5.5B | $6.3B | $6.9B | $8.4B | $9.5B | $10.3B |
| Operating income | $3.0B | $3.2B | $3.6B | $3.7B | — | — | — | — | — | — |
| Net income | $1.9B | $3.0B | $2.1B | $2.2B | $1.4B | $2.1B | $2.5B | $3.2B | $3.8B | $4.1B |
| EPS (diluted) | $4.20 | $6.68 | $4.91 | $5.25 | $3.49 | $5.34 | $6.14 | $8.02 | $9.50 | $10.45 |
| Free cash flow | $2.1B | $2.1B | $2.1B | $2.9B | $2.6B | $1.6B | $1.9B | $2.9B | $3.5B | $3.6B |
| Buybacks | $730.0M | $850.0M | $1.3B | $1.0B | $1.6B | $122.0M | $286.0M | $0 | $2.5B | $1.9B |
| Dividends paid | $1.0B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B | $1.3B | $1.4B | $1.5B | $1.6B |
| Diluted shares | 456.5M | 447.0M | 436.9M | 420.8M | 404.0M | 401.6M | 400.8M | 401.1M | 399.4M | 391.2M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into ETN?
A reverse DCF asks what growth the current price requires. With an enterprise value of $162.8B and $3.9B of trailing free cash flow, Eaton needs to grow free cash flow about 29.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 6.8% a year over the last five years.
P/E ratio history
Current 35.0x vs. median 19.0x (10th–90th percentile 12.9x–40.7x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
ETN dividend
- Dividend yield
- 1.20%
- Annual dividend
- $4.40
- Years of increases
- 16
- 5-yr dividend growth
- 12.9%
- per year
- Payout ratio
- 44%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
ETN earnings
Next report: November 3, 2026. Eaton has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $8.5B (+21% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 31, 2026 | $3.08 | $3.15 | +2.4% |
| May 5, 2026 | $2.73 | $2.81 | +2.9% |
| Feb 3, 2026 | $3.32 | $3.33 | +0.3% |
| Nov 4, 2025 | $3.05 | $3.07 | +0.5% |
| Aug 5, 2025 | $2.92 | $2.95 | +0.9% |
| May 2, 2025 | $2.71 | $2.72 | +0.6% |
| Jan 31, 2025 | $2.81 | $2.83 | +0.7% |
| Oct 31, 2024 | $2.81 | $2.84 | +1.2% |
Stocks like ETN
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 EMR Emerson Electric | +0.81% | +23% | $90.1B | 35.4x | Compare |
 VRT Vertiv Holdings, LLC | -0.65% | +6% | $74.8B | 44.0x | Compare |
 BE Bloom Energy | -11.24% | +91% | $57.1B | 117.2x | Compare |
 AME AMETEK | +0.51% | +28% | $55.0B | 35.1x | Compare |
 ROK Rockwell Automation | +0.53% | +21% | $47.4B | 39.9x | Compare |
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ETN news
- Eaton Powers Sustainable Profits With Electrical Equipment · Oct 23, 2026
- Eaton Stock Gets Fresh Earnings Upgrades As Analysts Turn More Bullish · Oct 23, 2026
- Eaton (ETN) Sees a More Significant Dip Than Broader Market: Some Facts to Know · Oct 22, 2026
- Wall Street Analysts Think Eaton (ETN) Is a Good Investment: Is It? · Oct 22, 2026
- Eaton (ETN): Will Its Electrical Backlog Translate Into Lasting Earnings Power? · Oct 20, 2026
ETN stock FAQ
What is ETN's market cap?
Eaton's market capitalization is $142.20 billion as of October 23, 2026, ranking 84th in the S&P 500.
What is ETN's P/E ratio?
ETN trades at a trailing price-to-earnings ratio of 37.2x and a forward P/E of 22.5x. Its median P/E over the period we track is 19.0x.
Does ETN pay a dividend?
Yes. Eaton pays $4.40 per share a year, a 1.20% yield. It has raised its dividend 16 years in a row. Dividends grew 12.9% a year over the last five years.
How much has ETN stock returned?
Including reinvested dividends, ETN returned -0.6% over one year, +19.5% a year over five years, +21.6% a year over ten years through October 23, 2026.
Is ETN stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Eaton must grow free cash flow about 29% a year for the next decade. Its free cash flow grew 7% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does ETN report earnings?
Eaton is expected to report earnings on November 3, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Eaton have?
Eaton has about 97,303 full-time employees, or $308,582 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology