Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

Analysis of Geographic Areas 

Microsoft Excel

Area Asset Turnover

Eaton Corp. plc, asset turnover by geographic area

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 7.94 7.88 6.82 6.65 6.77
Canada 30.61 30.16 31.88 30.28 39.21
Latin America 3.25 3.93 4.19 3.77 4.15
Europe 5.44 5.57 6.10 5.17 5.41
Asia Pacific 5.05 4.75 5.40 5.20 4.63

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Area activity ratio Geographic area The company
Area asset turnover United States United States area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Canada Canada area asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Latin America Latin America area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Europe Europe area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Asia Pacific Asia Pacific area asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Area Asset Turnover: United States

Eaton Corp. plc; United States; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 14,071 12,352 10,868 10,044 12,336
Long-lived assets 1,773 1,567 1,593 1,510 1,821
Area Activity Ratio
Area asset turnover1 7.94 7.88 6.82 6.65 6.77

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 14,071 ÷ 1,773 = 7.94

Area activity ratio Geographic area The company
Area asset turnover United States United States area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Area Asset Turnover: Canada

Eaton Corp. plc; Canada; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 949 754 797 757 941
Long-lived assets 31 25 25 25 24
Area Activity Ratio
Area asset turnover1 30.61 30.16 31.88 30.28 39.21

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 949 ÷ 31 = 30.61

Area activity ratio Geographic area The company
Area asset turnover Canada Canada area asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Area Asset Turnover: Latin America

Eaton Corp. plc; Latin America; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 1,549 1,504 1,160 939 1,312
Long-lived assets 476 383 277 249 316
Area Activity Ratio
Area asset turnover1 3.25 3.93 4.19 3.77 4.15

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 1,549 ÷ 476 = 3.25

Area activity ratio Geographic area The company
Area asset turnover Latin America Latin America area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Area Asset Turnover: Europe

Eaton Corp. plc; Europe; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 4,339 3,957 4,276 3,818 4,311
Long-lived assets 797 711 701 738 797
Area Activity Ratio
Area asset turnover1 5.44 5.57 6.10 5.17 5.41

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 4,339 ÷ 797 = 5.44

Area activity ratio Geographic area The company
Area asset turnover Europe Europe area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Area Asset Turnover: Asia Pacific

Eaton Corp. plc; Asia Pacific; area asset turnover calculation

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net sales 2,288 2,185 2,527 2,300 2,490
Long-lived assets 453 460 468 442 538
Area Activity Ratio
Area asset turnover1 5.05 4.75 5.40 5.20 4.63

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Area asset turnover = Net sales ÷ Long-lived assets
= 2,288 ÷ 453 = 5.05

Area activity ratio Geographic area The company
Area asset turnover Asia Pacific Asia Pacific area asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Net sales

Eaton Corp. plc, net sales by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 14,071 12,352 10,868 10,044 12,336
Canada 949 754 797 757 941
Latin America 1,549 1,504 1,160 939 1,312
Europe 4,339 3,957 4,276 3,818 4,311
Asia Pacific 2,288 2,185 2,527 2,300 2,490
Total 23,196 20,752 19,628 17,858 21,390

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).


Long-lived assets

Eaton Corp. plc, long-lived assets by geographic area

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
United States 1,773 1,567 1,593 1,510 1,821
Canada 31 25 25 25 24
Latin America 476 383 277 249 316
Europe 797 711 701 738 797
Asia Pacific 453 460 468 442 538
Total 3,530 3,146 3,064 2,964 3,496

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).