ETN
Eaton Corp plc
Industrials • CIK: 0001551182
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Market Cap
$139.11B
P/E (TTM)
34.9x
Rev Growth (TTM)
+12.5%
Net Margin (TTM)
14.0%
FCF Yield (TTM)
2.7%
FCF Margin (TTM)
13.3%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$3.8B
Q1 '26
$314M-80%
Q4 '25
$1.6B+34%
FCF Margin
TTM13.3%
Q1 '264.2%-81%
Sector: 4.7%Top 25%
OCF Margin16.7%
OCF/NI1.19x
CapEx Coverage4.9x
FCF Yield2.7%
FCF Growth (2Y)+19%
Cash Conversion Cycle
84 days
DSO: 71+DIO: 95−DPO: 81
Capital Allocation & Returns
Balanced
Total Shareholder YieldTTM
TTM2.1%
Div Yield1.2%
+Buyback (TTM)0.9%
Balancing returns with reinvestment
Dividend & Payout Metrics
Dividend Yield (TTM)1.2%
FCF Payout Ratio43.5%
Free Cash Flow (TTM)$3.8B
Stock Repurchases (TTM)$1.2B
Capital Return / FCF76.6%
Est. Dividends Paid (TTM)$1.6B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
19.0%
Stable
+0.0% YoY+0.6%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
19.9%
8Q: 19.8%
Asset Turnover
0.67x
8Q: 0.65x
Leverage (1+D/E)
2.07x
D/E: 1.07x
DuPont: 27.6% ≈ 19.0% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
6.87x
8Q:6.85x
-25.0%
Invested Cap Turn
0.96x
8Q:0.91x
+5.5%
CapEx Intensity
3.2%
8Q:2.6%
CapEx/Depreciation
0.92x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $28.5B | $7.5B↑6.3% | $7.0B↑0.3% | $7.0B↓0.6% | $7.0B↑10.2% | $6.4B↑2.2% | $6.2B↓1.7% | $6.3B↓0.1% | $6.3B |
Operating Income | $6.9B | $1.7B↓4.0% | $1.8B↑0.6% | $1.7B↑4.0% | $1.7B↑10.5% | $1.5B↓1.3% | $1.5B↓0.1% | $1.5B↑2.8% | $1.5B |
Net Income | $4.0B | $866.0M↓23.5% | $1.1B↑12.1% | $1.0B↑2.9% | $982.0M↑1.9% | $964.0M↓0.7% | $971.0M↓3.8% | $1.0B↑1.6% | $993.0M |
Operating Cash Flow | $4.7B | $507.0M↓74.2% | $2.0B↑45.4% | $1.4B↑47.2% | $918.0M↑285.7% | $238.0M↓85.1% | $1.6B↑22.0% | $1.3B↑38.4% | $946.0M |
Free Cash Flow | $3.8B | $314.0M↓80.0% | $1.6B↑34.1% | $1.2B↑63.8% | $716.0M↑686.8% | $91.0M↓93.2% | $1.3B↑19.2% | $1.1B↑48.4% | $759.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
34.9x
Volatile
8Q: 132.6x+1616%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
34.9x
vs – sector
Cash Flow
39.5x
EV/FCF vs –
Growth-Adj
2.8xPEG
Expensive for growth
Quality-Adj
1.8P/E per %ROIC
ROIC: 19.0%
Shareholder Returns
Dividend
1.2%
Buyback
0.9%
Total Yield
2.1%
Market Cap$139.11B
EV$149.00B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
97/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 25%
21.0%
8Q:–
Return on Invested Capital (ROIC)Top 25%
19.0%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 19.9%
Asset Turnover: 0.67x
Earnings Quality
Cash Conversion
1.19x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin36.8%
Capital Efficiency
Invested Capital Turnover0.96x
Working Capital
Cash Conversion Cycle84 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
72/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
12.5%
OpInc Growth YoY
11.0%
EPS Growth YoY
3.2%
FCF 3Y CAGR
19.4%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
✓Sustainability Index: 7.5/10 - Highly sustainable growth
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
36.8%
Operating
24.2%
Top 25% in sector
Net
14.0%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-0.8 pts
FCF: 13.3% | Net: 14.0%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $20.29B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.07x
Balance sheet risk & solvency analysis