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Eaton Corporation key statistics and ratios

In fiscal 2025, Eaton Corporation had return on equity of 21.6% and a net margin of 14.9%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin6.8%8.4%7.5%8.4%8.0%9.5%9.7%14.6%9.9%10.3%7.9%10.9%11.9%13.9%15.3%14.9%12.2%
Return on equity12.5%18.2%10.8%11.7%11.0%12.7%12.7%18.5%12.9%13.7%9.1%13.7%14.7%17.8%20.2%21.6%19.3%
Return on assets5.4%7.7%4.5%5.2%5.2%6.1%6.2%9.5%6.7%6.9%4.4%6.5%7.1%8.8%9.9%10.3%7.9%
Effective tax rate9.6%12.9%2.5%0.6%−2.4%7.5%9.4%11.3%11.5%14.6%19.0%25.9%15.3%15.8%16.8%17.1%20.6%
R&D as % of revenue3.1%2.6%2.7%2.9%2.9%3.0%3.0%2.9%2.7%2.8%3.1%3.1%3.2%3.3%3.2%2.9%2.7%
SG&A as % of revenue18.1%17.1%17.7%17.6%16.9%17.2%17.5%17.3%16.4%16.8%17.2%16.6%15.6%16.4%16.4%15.7%15.0%
Dividends ÷ net income39.1%34.2%42.1%42.8%51.8%52.0%54.1%35.8%53.6%54.3%83.3%56.9%52.8%42.9%39.5%39.8%43.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $57.5bn
Short-term assets $16.0bnLonger-term assets $41.4bn
What it owes, and who funded it · $34.0bn
Short-term liabilities $13.0bnShareholders' equity $21.0bn
  • Short-term assets cover short-term liabilities $16.0bn of assets due within a year against $13.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $528m of cash against $20.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 96% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 51% to 96% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.9bn of operating cash flow against $20.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Eaton Corporation's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

64 /100

Moderate moat

How hard Eaton's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 12 / 20

    Cash operating profit has been a median 10.0% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 33.0%, moving by 2.4 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Net margin has been a median 11.8%; its worst year was 7.5%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 12.1% of revenue.

  • Discipline 13 / 20

    The diluted share count fell 3.0% over five years.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Electrical Components & Equipment stocks compared, Industrials sector, rankings of US companies

Figures from Eaton Corporation's SEC filings (10-K and 10-Q), retrieved November 3, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Eaton Corporation.