Eaton Corp plc

Listed Company

ETNCIK 0001551182NYSELarge AcceleratedMisc Industrial & Commercial Machinery & EquipmentFY ends Dec 31

Period

FY 2025

Revenue

$27.40B

Net Income

$4.09B

Total Assets

$41.25B

Equity

$19.43B

Shares Out

387.90M

Op. Cash Flow

$4.47B

Business

Eaton Corp plc is an intelligent power management company that designs and manufactures products and systems to protect the environment and improve quality of life by managing electrical, hydraulic and mechanical power. It provides power management products and systems for data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets, including electrical distribution, aerospace systems, vehicle powertrain and eMobility technologies. The company operates through business segments of Electrical Americas, Electrical Global, Aerospace, Vehicle and eMobility. Eaton serves global markets through direct sales, distributors and service networks across many countries.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	27,400	24,878	23,196	20,752	19,628
Cost of products sold	17,131	15,375	14,762	13,865	13,293
Selling and administrative expense	4,311	4,077	3,795	3,227	3,256
Research and development expense	797	794	754	665	616
Interest expense - net	241	130	151	—	—
Other expense (income) - net	37	−64	−93	−36	40
Income before income taxes	4,932	4,566	3,827	2,911	2,896
Income tax expense	841	768	604	445	750
Net income	4,090	3,798	3,223	2,465	2,146
Less net income for noncontrolling interests	−3	−4	−5	−4	−2
Net income attributable to Eaton ordinary shareholders	4,087	3,794	3,218	2,462	2,144
Diluted (USD per share)	10.45	9.5	8.02	6.14	5.34
Basic (USD per share)	10.48	9.54	8.06	6.17	5.38
Diluted (in shares)	391	399	401	401	402
Basic (in shares)	390	398	399	399	399
Cash dividends declared per ordinary share (USD per share)	4.16	3.76	3.44	3.24	3.04

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	622	555	488	294	297
Short-term investments	181	1,525	2,121	261	271
Accounts receivable - net	5,387	4,619	4,475	4,076	3,297
Inventory	4,721	4,227	3,739	3,430	2,969
Prepaid expenses and other current assets	1,444	874	851	685	677
Total current assets	12,355	11,801	11,675	8,746	7,511
Land and buildings	2,361	2,239	2,241	2,129	2,227
Machinery and equipment	7,667	6,823	6,497	5,885	5,591
Gross property, plant and equipment	10,028	9,062	8,738	8,013	7,818
Accumulated depreciation	−5,712	−5,333	−5,208	−4,867	−4,754
Net property, plant and equipment	4,316	3,729	3,530	3,146	3,064
Goodwill	15,769	14,713	14,977	14,796	14,751
Other intangible assets	5,054	4,658	5,091	5,485	5,855
Operating lease assets	768	806	648	570	442
Deferred income taxes	707	609	458	330	392
Other assets	2,281	2,066	2,052	1,940	2,012
Total assets	41,251	38,381	38,432	35,014	34,027
Short-term debt	1	0	8	324	13
Current portion of long-term debt	1,136	674	1,017	10	1,735
Accounts payable	4,168	3,678	3,365	3,072	2,797
Accrued compensation	644	670	676	467	501
Other current liabilities	3,421	2,835	2,680	2,488	2,166
Total current liabilities	9,370	7,857	7,747	6,360	7,212
Long-term debt	8,758	8,478	8,244	8,321	6,831
Pension liabilities	702	741	768	649	872
Other postretirement benefits liabilities	161	164	180	177	263
Operating lease liabilities	637	669	533	459	337
Deferred income taxes	265	275	402	530	559
Other noncurrent liabilities	1,889	1,667	1,489	1,444	1,502
Total noncurrent liabilities	12,412	11,994	11,616	11,580	10,364
Ordinary shares (387.9 million outstanding in 2025 and 392.9 million in 2024)	4	4	4	4	4
Capital in excess of par value	12,837	12,731	12,634	12,512	12,449
Retained earnings	10,702	10,096	10,305	8,468	7,594
Accumulated other comprehensive loss	−4,118	−4,342	−3,906	−3,946	−3,633
Shares held in trust	0	−1	−1	−1	−1
Total Eaton shareholders equity	19,425	18,488	19,036	17,038	16,413
Noncontrolling interests	44	43	33	38	38
Total equity	19,469	18,531	19,069	17,075	16,451
Total liabilities and equity	41,251	38,381	38,432	35,014	34,027

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1,006	921	926	954	922
Deferred income taxes	45	−154	−182	−128	−111
Pension and other postretirement benefits expense	43	24	15	54	53
Contributions to pension plans	−124	−110	−113	−116	−343
Contributions to other postretirement benefits plans	−16	−18	−20	−24	−20
Changes in working capital	—	—	—	40	22
Accounts receivable - net	−420	−215	−341	−743	−271
Inventory	−256	−566	−282	−490	−629
Unbilled receivables	−357	−52	−54	—	—
Accounts payable	332	399	256	334	832
Accrued compensation	−50	21	197	−16	154
Accrued income and other taxes	−116	142	61	170	−317
Deferred revenue liabilities	202	2	119	—	—
Other current assets	−198	−27	−58	−179	−116
Other current liabilities	145	77	−47	236	38
Other - net	146	85	−76	40	22
Net cash provided by operating activities	4,472	4,327	3,624	2,533	2,163
Capital expenditures for property, plant and equipment	−919	−808	−757	−598	−575
Cash paid for acquisition of businesses, net of cash acquired	−1,490	−50	0	−610	−4,500
Proceeds from sales of property, plant and equipment	80	85	76	163	44
Investments in associate companies	−16	−70	−68	−42	−124
Return of investment from associate companies	0	33	9	1	—
Sales (purchases) of short-term investments - net	1,339	575	−1,861	−19	379
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	3	−3	92	−47	−27
Other - net	−98	−32	−65	−80	−90
Net cash used in investing activities	−1,101	−271	−2,575	−1,200	−1,764
Proceeds from borrowings	1,058	1,084	818	1,995	1,798
Payments on borrowings	−717	−1,015	−19	−2,012	−1,013
Short-term debt, net	1	−8	−311	317	20
Cash dividends paid	−1,626	−1,500	−1,379	−1,299	−1,219
Exercise of employee stock options	39	69	78	28	63
Repurchase of shares	−1,862	−2,492	0	−286	−122
Employee taxes paid from shares withheld	−52	−70	−49	−60	−47
Other - net	−14	−4	−9	−23	−15
Net cash used in financing activities	−3,173	−3,936	−871	−1,340	−535
Effect of currency on cash	−131	−52	16	4	−5
Total increase in cash	67	67	194	−3	−141

Filings

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