Eaton Corp Plc (ETN) financial statements: income statement, balance sheet and cash flow

Eaton Corp Plc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Eaton Corp Plc reported revenue of $27.4B (+10.3% year on year) and net income of $4.1B (+7.7% year on year).

Income statement

Eaton Corp Plc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$27.4B	$24.9B	$23.2B	$20.8B
Cost of products sold	$17.1B	$15.4B	$14.8B	$13.9B
Selling and administrative expense	$4.3B	$4.1B	$3.8B	$3.2B
Research and development expense	$797.0M	$794.0M	$754.0M	$665.0M
Interest expense - net	$241.0M	$130.0M	$151.0M	$144.0M
Other expense (income) - net	$37.0M	—	($93.0M)	($36.0M)
Income before income taxes	$4.9B	$4.6B	$3.8B	$2.9B
Income tax expense	$841.0M	$768.0M	$604.0M	$445.0M
Net income	$4.1B	$3.8B	$3.2B	$2.5B
Less net income for noncontrolling interests	($3.0M)	($4.0M)	($5.0M)	($4.0M)
Net income attributable to Eaton ordinary shareholders	$4.1B	$3.8B	$3.2B	$2.5B
Diluted (USD per share)	$10.45	$9.50	$8.02	$6.14
Basic (USD per share)	$10.48	$9.54	$8.06	$6.17
Diluted (in shares)	391.2M	399.4M	401.1M	400.8M
Basic (in shares)	389.9M	397.6M	399.1M	398.7M
Cash dividends declared per ordinary share (USD per share)	$4.16	$3.76	$3.44	$3.24

Eaton Corp Plc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$8.5B	$7.5B	$7.0B	$7.0B
Cost of products sold	$5.7B	$4.8B	$4.3B	$4.4B
Selling and administrative expense	$1.2B	$1.3B	$1.1B	$1.1B
Research and development expense	$227.0M	$211.0M	$203.0M	$192.0M
Interest expense - net	$201.0M	$106.0M	$67.0M	$71.0M
Other expense (income) - net	$47.0M	—	$25.0M	—
Income before income taxes	$1.1B	$1.1B	$1.3B	$1.2B
Income tax expense	$321.0M	$240.0M	$264.0M	$203.0M
Net income	$823.0M	$868.0M	$1.0B	$982.0M
Less net income for noncontrolling interests	($1.0M)	($2.0M)	($1.0M)	($1.0M)
Net income attributable to Eaton ordinary shareholders	$821.0M	$866.0M	$1.0B	$982.0M
Diluted (USD per share)	$2.11	$2.22	$2.59	$2.51
Basic (USD per share)	$2.11	$2.23	$2.60	$2.52
Diluted (in shares)	389.5M	389.2M	390.1M	391.4M
Basic (in shares)	388.5M	388.2M	388.8M	390.3M
Cash dividends declared per ordinary share (USD per share)	$1.10	$1.10	$1.04	$1.04

Balance sheet

Eaton Corp Plc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash	$622.0M	$555.0M	$488.0M	$294.0M
Short-term investments	$181.0M	$1.5B	$2.1B	$261.0M
Accounts receivable - net	$5.4B	$4.6B	$4.5B	$4.1B
Inventory	$4.7B	$4.2B	$3.7B	$3.4B
Prepaid expenses and other current assets	$1.4B	$874.0M	$851.0M	$685.0M
Total current assets	$12.4B	$11.8B	$11.7B	$8.7B
Land and buildings	$2.4B	$2.2B	$2.2B	$2.1B
Machinery and equipment	$7.7B	$6.8B	$6.5B	$5.9B
Gross property, plant and equipment	$10.0B	$9.1B	$8.7B	$8.0B
Accumulated depreciation	($5.7B)	($5.3B)	($5.2B)	($4.9B)
Net property, plant and equipment	$4.3B	$3.7B	$3.5B	$3.1B
Goodwill	$15.8B	$14.7B	$15.0B	$14.8B
Other intangible assets	$5.1B	$4.7B	$5.1B	$5.5B
Operating lease assets	$768.0M	$806.0M	$648.0M	$570.0M
Deferred income taxes	$707.0M	$609.0M	$458.0M	$330.0M
Other assets	$2.3B	$2.1B	$2.1B	$1.9B
Total assets	$41.3B	$38.4B	$38.4B	$35.0B
Short-term debt	$1.0M	$0	$8.0M	$324.0M
Current portion of long-term debt	$1.1B	$674.0M	$1.0B	$10.0M
Accounts payable	$4.2B	$3.7B	$3.4B	$3.1B
Accrued compensation	$644.0M	$670.0M	$676.0M	$467.0M
Other current liabilities	$3.4B	$2.8B	$2.7B	$2.5B
Total current liabilities	$9.4B	$7.9B	$7.7B	$6.4B
Long-term debt	$8.8B	$8.5B	$8.2B	$8.3B
Pension liabilities	$702.0M	$741.0M	$768.0M	$649.0M
Other postretirement benefits liabilities	$161.0M	$164.0M	$180.0M	$177.0M
Operating lease liabilities	$637.0M	$669.0M	$533.0M	$459.0M
Deferred income taxes	$265.0M	$275.0M	$402.0M	$530.0M
Other noncurrent liabilities	$1.9B	$1.7B	$1.5B	$1.4B
Total noncurrent liabilities	$12.4B	$12.0B	$11.6B	$11.6B
Ordinary shares (387.9 million outstanding in 2025 and 392.9 million in 2024)	4.0M	4.0M	4.0M	4.0M
Capital in excess of par value	$12.8B	$12.7B	$12.6B	$12.5B
Retained earnings	$10.7B	$10.1B	$10.3B	$8.5B
Accumulated other comprehensive loss	($4.1B)	($4.3B)	($3.9B)	($3.9B)
Shares held in trust	0	-1.0M	-1.0M	-1.0M
Total Eaton shareholders’ equity	$19.4B	$18.5B	$19.0B	$17.0B
Noncontrolling interests	$44.0M	$43.0M	$33.0M	$38.0M
Total equity	$19.5B	$18.5B	$19.1B	$17.1B
Total liabilities and equity	$41.3B	$38.4B	$38.4B	$35.0B

Eaton Corp Plc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash	$483.0M	$565.0M	$328.0M	$398.0M
Short-term investments	$212.0M	$186.0M	$237.0M	$186.0M
Accounts receivable - net	$6.7B	$6.4B	$5.6B	$5.5B
Inventory	$5.4B	$5.1B	$4.6B	$4.6B
Prepaid expenses and other current assets	$2.0B	$1.7B	$1.4B	$1.2B
Total current assets	$14.8B	$14.0B	$12.1B	$11.9B
Land and buildings	$2.5B	$2.4B	$2.3B	$2.3B
Machinery and equipment	$8.0B	$7.9B	$7.4B	$7.3B
Gross property, plant and equipment	$10.5B	$10.3B	$9.7B	$9.6B
Accumulated depreciation	($5.8B)	($5.7B)	($5.7B)	($5.6B)
Net property, plant and equipment	$4.7B	$4.6B	$4.1B	$4.0B
Goodwill	$20.2B	$21.4B	$15.8B	$15.8B
Other intangible assets	$12.6B	$11.3B	$5.1B	$5.2B
Operating lease assets	$855.0M	$844.0M	$694.0M	$709.0M
Deferred income taxes	$592.0M	$585.0M	$568.0M	$621.0M
Other assets	$2.4B	$2.4B	$2.2B	$2.2B
Total assets	$56.2B	$55.1B	$40.6B	$40.5B
Short-term debt	$2.1B	$2.5B	$761.0M	$1.1B
Current portion of long-term debt	$11.0M	$84.0M	$1.1B	$1.1B
Accounts payable	$5.4B	$4.9B	$3.8B	$3.8B
Accrued compensation	$630.0M	$573.0M	$680.0M	$529.0M
Other current liabilities	$3.8B	$3.7B	$3.1B	$3.1B
Total current liabilities	$11.9B	$11.7B	$9.5B	$9.6B
Long-term debt	$18.5B	$18.5B	$8.8B	$8.8B
Pension liabilities	$601.0M	$670.0M	$744.0M	$758.0M
Other postretirement benefits liabilities	$158.0M	$160.0M	$159.0M	$161.0M
Operating lease liabilities	$715.0M	$704.0M	$568.0M	$587.0M
Deferred income taxes	$2.1B	$1.6B	$289.0M	$280.0M
Other noncurrent liabilities	$1.9B	$1.9B	$1.8B	$1.7B
Total noncurrent liabilities	$24.0B	$23.6B	$12.3B	$12.3B
Ordinary shares (388.4 million outstanding in 2026 and 387.9 million in 2025)	4.0M	4.0M	4.0M	4.0M
Capital in excess of par value	$12.9B	$12.8B	$12.8B	$12.8B
Retained earnings	$11.5B	$11.1B	$10.2B	$9.9B
Accumulated other comprehensive loss	($4.1B)	($4.2B)	($4.1B)	($4.1B)
Shares held in trust	0	-1.0M	0	0
Total Eaton shareholders’ equity	$20.3B	$19.7B	$18.8B	$18.6B
Noncontrolling interests	$45.0M	$44.0M	$42.0M	$41.0M
Total equity	$20.3B	$19.8B	$18.9B	$18.6B
Total liabilities and equity	$56.2B	$55.1B	$40.6B	$40.5B

Cash flow statement

Eaton Corp Plc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$4.1B	$3.8B	$3.2B	$2.5B
Depreciation and amortization	$1.0B	$921.0M	$926.0M	$954.0M
Deferred income taxes	$45.0M	($154.0M)	($182.0M)	($128.0M)
Pension and other postretirement benefits expense	$43.0M	$24.0M	$15.0M	$54.0M
Contributions to pension plans	($124.0M)	($110.0M)	($113.0M)	($116.0M)
Contributions to other postretirement benefits plans	($16.0M)	($18.0M)	($20.0M)	($24.0M)
Accounts receivable - net	($420.0M)	($215.0M)	($341.0M)	($743.0M)
Inventory	($256.0M)	($566.0M)	($282.0M)	($490.0M)
Unbilled receivables	($357.0M)	—	—	—
Accounts payable	$332.0M	$399.0M	$256.0M	$334.0M
Accrued compensation	($50.0M)	$21.0M	$197.0M	($16.0M)
Accrued income and other taxes	($116.0M)	$142.0M	$61.0M	$170.0M
Deferred revenue liabilities	$202.0M	—	—	—
Other current assets	($198.0M)	($79.0M)	($112.0M)	($179.0M)
Other current liabilities	$145.0M	$79.0M	$72.0M	$236.0M
Other - net	$146.0M	$85.0M	($76.0M)	$40.0M
Net cash provided by operating activities	$4.5B	$4.3B	$3.6B	$2.5B
Capital expenditures for property, plant and equipment	($919.0M)	($808.0M)	($757.0M)	($598.0M)
Cash paid for acquisition of businesses, net of cash acquired	($1.5B)	($50.0M)	$0	($610.0M)
Proceeds from sales of property, plant and equipment	$80.0M	$85.0M	$76.0M	$163.0M
Investments in associate companies	($16.0M)	($70.0M)	($68.0M)	($42.0M)
Return of investment from associate companies	$0	$33.0M	—	—
Sales (purchases) of short-term investments - net	$1.3B	$575.0M	($1.9B)	($19.0M)
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	$3.0M	($3.0M)	$92.0M	($47.0M)
Other - net	($98.0M)	($32.0M)	($54.0M)	($79.0M)
Net cash used in investing activities	($1.1B)	($271.0M)	($2.6B)	($1.2B)
Proceeds from borrowings	$1.1B	$1.1B	$818.0M	$2.0B
Payments on borrowings	($717.0M)	($1.0B)	($19.0M)	($2.0B)
Short-term debt, net	$1.0M	($8.0M)	($311.0M)	$317.0M
Cash dividends paid	($1.6B)	($1.5B)	($1.4B)	($1.3B)
Exercise of employee stock options	$39.0M	$69.0M	$78.0M	$28.0M
Repurchase of shares	-1.9B	-2.5B	0	-286.0M
Employee taxes paid from shares withheld	-52.0M	-70.0M	-49.0M	-60.0M
Other - net	($14.0M)	($4.0M)	($9.0M)	($23.0M)
Net cash used in financing activities	($3.2B)	($3.9B)	($871.0M)	($1.3B)
Effect of currency on cash	($131.0M)	($52.0M)	$16.0M	$4.0M
Total increase in cash	$67.0M	$67.0M	$194.0M	($3.0M)
Cash at the beginning of the period	$555.0M	$488.0M	$294.0M	$297.0M
Cash at the end of the period	$622.0M	$555.0M	$488.0M	$294.0M

Eaton Corp Plc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.7B	$868.0M	$3.0B	$1.9B
Depreciation and amortization	$671.0M	$272.0M	$751.0M	$493.0M
Deferred income taxes	$135.0M	$37.0M	$74.0M	$123.0M
Pension and other postretirement benefits expense	$23.0M	$10.0M	$31.0M	$20.0M
Contributions to pension plans	($48.0M)	($28.0M)	($81.0M)	($58.0M)
Contributions to other postretirement benefits plans	($6.0M)	($3.0M)	($13.0M)	($9.0M)
Changes in working capital	($833.0M)	($614.0M)	($1.3B)	($1.4B)
Other - net	$2.0M	($35.0M)	$100.0M	$37.0M
Net cash provided by operating activities	$1.6B	$507.0M	$2.5B	$1.2B
Capital expenditures for property, plant and equipment	($446.0M)	($193.0M)	($527.0M)	($349.0M)
Cash paid for acquisition of businesses, net of cash acquired	($11.1B)	($11.1B)	($1.5B)	($1.4B)
Proceeds from sales of property, plant and equipment	$39.0M	$38.0M	$53.0M	$53.0M
Investments in nonmarketable securities	($85.0M)	($85.0M)	($16.0M)	($16.0M)
Sales (purchases) of short-term investments - net	($43.0M)	($13.0M)	$1.3B	$1.3B
Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net	$1.0M	($17.0M)	—	($21.0M)
Other - net	($48.0M)	($25.0M)	($63.0M)	($49.0M)
Net cash used in investing activities	($11.7B)	($11.4B)	($783.0M)	($490.0M)
Proceeds from borrowings	$9.9B	$9.9B	$1.1B	$1.1B
Payments on borrowings	($1.1B)	($1.1B)	($714.0M)	($713.0M)
Short-term debt - net	$2.1B	$2.5B	$761.0M	$1.1B
Debt issuance costs	($64.0M)	($63.0M)	—	—
Cash dividends paid	($858.0M)	($415.0M)	($1.2B)	($818.0M)
Exercise of employee stock options	$35.0M	$10.0M	$37.0M	$29.0M
Repurchase of shares	0	0	-1.7B	-1.3B
Employee taxes paid from shares withheld	-53.0M	-44.0M	-50.0M	-46.0M
Other - net	($2.0M)	($1.0M)	($13.0M)	($11.0M)
Net cash provided by (used in) financing activities	$9.9B	$10.8B	($1.8B)	($697.0M)
Effect of currency on cash	$13.0M	$14.0M	($138.0M)	($126.0M)
Total decrease in cash	($139.0M)	($58.0M)	($227.0M)	($157.0M)
Cash at the beginning of the period	$622.0M	$622.0M	$555.0M	$555.0M
Cash at the end of the period	$483.0M	$565.0M	$328.0M	$398.0M

Eaton Corp Plc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.