Eaton Corp. plc, current enterprise value calculation

Current share price (P)	$274.17
No. shares of common stock outstanding	392,000,000
US$ in millions
Common equity (market value)¹	107,475)
Add: Noncontrolling interests (per books)	43)
Total equity	107,518)
Add: Short-term debt (per books)	—)
Add: Current portion of long-term debt (per books)	674)
Add: Long-term debt, excluding current portion (per books)	8,478)
Total equity and debt	116,670)
Less: Cash	555)
Less: Short-term investments	1,525)
Enterprise value (EV)	114,590)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 274.17 × 392,000,000

Eaton Corp. plc, EV calculation

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Share price^1, 2	$290.38	$289.00	$172.78	$149.31	$132.68
No. shares of common stock outstanding¹	392,000,000	399,500,000	398,000,000	398,800,000	398,100,000
US$ in millions
Common equity (market value)³	113,829)	115,456)	68,766)	59,545)	52,820)
Add: Noncontrolling interests (book value)	43)	33)	37)	38)	43)
Total equity	113,872)	115,489)	68,803)	59,583)	52,863)
Add: Short-term debt (book value)	—)	8)	324)	13)	1)
Add: Current portion of long-term debt (book value)	674)	1,017)	10)	1,735)	1,047)
Add: Long-term debt, excluding current portion (book value)	8,478)	8,244)	8,321)	6,831)	7,010)
Total equity and debt	123,024)	124,758)	77,458)	68,162)	60,921)
Less: Cash	555)	488)	294)	297)	438)
Less: Short-term investments	1,525)	2,121)	261)	271)	664)
Enterprise value (EV)	120,944)	122,149)	76,903)	67,594)	59,819)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Eaton Corp. plc Annual Report.

³ 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 290.38 × 392,000,000

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Eaton Corp. plc EV increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.

Eaton Corp. plc (NYSE:ETN)

Enterprise Value (EV)