# Eaton Corporation, plc Ordinary Shares (ETN) — Stock CV

Eaton Corporation, plc is a $167B industrial company. Revenue grew 15.5% over the last year, it keeps 13¢ of every dollar of sales as profit, and its net debt equals ~2.0 years of free cash flow. It trades at 43.6× earnings — near the highest of its own history.

> Founded in 1911 by Joseph Eaton, the eponymous company began by selling truck axles in New Jersey. Eaton has since become an industrial powerhouse largely through acquisitions in various end markets.

## Identity

- **Ticker**: ETN
- **Sector**: Industrials
- **Industry**: Misc Industrial & Commercial Machinery & Equipment
- **Headquarters**: DUBLIN, L2
- **Employees**: 97 000
- **Website**: https://www.eaton.com
- **Market cap**: $167B
- **Last price**: $430.46
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $30.0B
- **Net income**: $3.83B
- **Free cash flow**: $3.93B
- **Net debt**: $7.96B
- **P/E**: 43.6
- **Revenue growth (YoY)**: 15.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 22 |
| Growth | 82 |
| Profitability | 72 |
| Health | 49 |
| Quality | 92 |
| Moat | 62 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +15.5% YoY
- [x] Profitable — $3.83B TTM
- [x] Profit growing — +19.4% YoY
- [x] Generates cash — $3.93B TTM
- [x] Debt under control — ~2.0y of cash flow to repay
- [x] Established company — $167B market cap
- [x] Not printing shares — -3.2% shares over ~5y
- [x] Proven track record — 10/10 profitable years
- [ ] Financially stable — health score 37/100
- [x] Pays a dividend — yield 1.00%
- [x] Valuation not extreme — P/E 43.6

## Experience (career milestones)

- **Q3 2026** — 2 open-market insider purchases: ~200 shares bought by insiders
- **FY2025** — Best year on record: $4.09B net income
- **2021** — Eaton completed the acquisition of Tripp Lite for $1.65 billion
- **FY2016** — Profitable every year on record: 10 consecutive profitable years in our data
- **FY2016** — Revenue already above $10B: $19.7B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2011** — The $13 billion acquisition of Cooper (US$5.4B Sales revenue (2011)), became the largest in Eaton's (US$16B Sales…
- **1994** — In one of Eaton's largest acquisitions, the company purchased the Westinghouse Distribution and Controls Business…
- **1965** — The company name changed once again in 1965 to Eaton Yale & Towne Inc
- **1958** — Eaton Corporation acquired Fuller Manufacturing
- **1937** — Eaton became international by opening a manufacturing plant in Canada
- **1932** — The diversified company changed its name to Eaton Manufacturing Company
- **1923** — Eaton bought the Torbensen Axle Co. back from Republic and changed the name to the Eaton Axle and Spring…
- **1920** — A year later, in 1920, Eaton Axle Company merged with Standard Parts
- **1916** — The Torbensen Axle Company incorporated in Ohio in 1916, succeeding the New Jersey corporation

## Strengths

- Revenue growing 15.5% year over year
- Interest covered 21.5× by operating earnings
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- None stand out in the data.

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $19.6B | $2.14B | $1.59B |
| FY2022 | $20.8B | $2.46B | $1.94B |
| FY2023 | $23.2B | $3.22B | $2.87B |
| FY2024 | $24.9B | $3.79B | $3.52B |
| FY2025 | $27.4B | $4.09B | $3.55B |

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Source: https://stockcv.com/ETN — derived from company filings; may be delayed or incomplete. Information, not investment advice.