Eaton vs Vertiv
Eaton is the larger business, with $27.45bn of revenue in fiscal 2025 against $10.23bn for Vertiv (2.7 times as much). Vertiv grew faster (27.7% against 10.3%). Eaton kept more of each dollar of sales as profit: a net margin of 14.9% against 13.0%.
| Latest fiscal year | EatonETN, 2025 | VertivVRT, 2025 |
|---|---|---|
| Revenue | $27.45bn | $10.23bn |
| Revenue growth | 10.3% | 27.7% |
| Net income | $4.09bn | $1.33bn |
| Operating margin | — | 17.9% |
| Net margin | 14.9% | 13.0% |
| Return on equity | 21.6% | 41.8% |
| Free cash flow | $3.55bn | $1.89bn |
| Cash | $622m | $1.73bn |
| Total debt | $9.89bn | $2.91bn |
| Debt to equity | — | 73.9% |
| Dividend per share | $4.16 | — |
| Dividend yield | 1.1% | 0.1% |
| Share buybacks | $1.86bn | $0 |
| Employees | 97,000 | 34,000 |
| Market value | $152.57bn | $90.51bn |
| Price vs our value range | Above our value range | Below our value range |
| Moat score | 64 (Moderate) | 58 (Moderate) |
| Insider trades, 12 months | 5 buys, 8 sales | 0 buys, 73 sales |