Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Microsoft Excel

Historical Valuation Ratios (Summary)

Eaton Corp. plc, historical price multiples (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Price to earnings (P/E) 30.00 34.78 32.49 37.41 35.88 27.72 32.23 26.89 27.93 26.32 25.21 26.37 27.77 33.08 34.43 40.32 37.46
Price to operating profit (P/OP) 24.57 29.21 27.36 31.13 29.72 22.55 25.61 21.74 22.78 21.52 18.06 18.52 19.33 22.62 27.06 30.03 25.83
Price to sales (P/S) 4.58 5.33 4.91 5.38 4.98 3.67 3.96 3.23 3.31 2.99 2.95 2.96 3.03 3.51 3.39 3.25 2.96
Price to book value (P/BV) 6.16 6.85 6.17 6.60 6.07 4.52 4.87 3.96 4.04 3.75 3.56 3.52 3.63 4.28 4.21 3.84 3.54 3.06 2.73 2.34

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Eaton Corp. plc P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Eaton Corp. plc P/OP ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Eaton Corp. plc P/S ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Eaton Corp. plc P/BV ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Earnings (P/E)

Eaton Corp. plc, historical P/E calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 392,000,000 395,200,000 398,100,000 399,800,000 399,500,000 399,300,000 399,000,000 398,600,000 398,000,000 397,700,000 398,300,000 399,000,000 398,800,000 398,600,000 398,600,000 398,500,000 398,100,000 398,600,000 400,100,000 400,000,000
Selected Financial Data (US$)
Net income attributable to Eaton ordinary shareholders (in millions) 971 1,009 993 821 945 891 744 638 722 607 601 532 551 629 506 458 475 446 51 438
Earnings per share (EPS)2 9.68 9.53 9.17 8.51 8.06 7.50 6.79 6.44 6.19 5.76 5.81 5.56 5.38 5.19 4.73 3.59 3.54 0.00 0.00 0.00
Share price1, 3 290.38 331.58 297.88 318.26 289.00 207.91 219.00 173.25 172.78 151.64 146.39 146.58 149.31 171.63 162.81 144.67 132.68 111.25 96.89 83.50
Valuation Ratio
P/E ratio4 30.00 34.78 32.49 37.41 35.88 27.72 32.23 26.89 27.93 26.32 25.21 26.37 27.77 33.08 34.43 40.32 37.46
Benchmarks
P/E Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 15.65 18.85 14.35 14.40 15.55 12.95 17.55 15.65 19.15 15.15 14.29 18.28 16.82 21.38 25.50 37.92 36.80
GE Aerospace 33.42 30.61 40.09 52.93 16.18 12.72 13.82 12.78 19.67
Honeywell International Inc. 23.10 23.93 22.74 21.95 22.73 21.44 23.92 25.30 26.97 24.58 25.26 25.10 23.14 27.35 31.83 33.71 29.63
Lockheed Martin Corp. 20.18 20.49 17.74 16.29 15.35 15.71 16.11 22.32 20.48 19.28 22.00 19.45 16.70 15.11 14.27 15.48 13.44
RTX Corp. 36.25 35.41 66.73 38.75 38.31 35.32 22.79 26.67 27.59 29.12 29.83 35.16 36.79 40.28 60.91

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
EPS = (Net income attributable to Eaton ordinary shareholdersQ4 2024 + Net income attributable to Eaton ordinary shareholdersQ3 2024 + Net income attributable to Eaton ordinary shareholdersQ2 2024 + Net income attributable to Eaton ordinary shareholdersQ1 2024) ÷ No. shares of common stock outstanding
= (971,000,000 + 1,009,000,000 + 993,000,000 + 821,000,000) ÷ 392,000,000 = 9.68

3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.

4 Q4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 290.38 ÷ 9.68 = 30.00

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Eaton Corp. plc P/E ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Operating Profit (P/OP)

Eaton Corp. plc, historical P/OP calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 392,000,000 395,200,000 398,100,000 399,800,000 399,500,000 399,300,000 399,000,000 398,600,000 398,000,000 397,700,000 398,300,000 399,000,000 398,800,000 398,600,000 398,600,000 398,500,000 398,100,000 398,600,000 400,100,000 400,000,000
Selected Financial Data (US$)
Operating income (in millions) 1,224 1,211 1,193 1,004 1,078 1,060 946 801 875 790 711 643 659 1,216 640 565 604 589 162 690
Operating profit per share2 11.82 11.35 10.89 10.23 9.72 9.22 8.55 7.97 7.59 7.05 8.11 7.91 7.72 7.59 6.02 4.82 5.14 0.00 0.00 0.00
Share price1, 3 290.38 331.58 297.88 318.26 289.00 207.91 219.00 173.25 172.78 151.64 146.39 146.58 149.31 171.63 162.81 144.67 132.68 111.25 96.89 83.50
Valuation Ratio
P/OP ratio4 24.57 29.21 27.36 31.13 29.72 22.55 25.61 21.74 22.78 21.52 18.06 18.52 19.33 22.62 27.06 30.03 25.83
Benchmarks
P/OP Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 12.92 15.15 11.63 11.78 12.40 10.25 13.99 12.67 16.25 14.25 13.65 17.16 15.87 16.57 18.76 26.25 24.23
GE Aerospace 26.78 27.17 27.72 30.66 27.11 22.82 26.69 20.39 19.88 15.70 13.51 17.08 17.46 20.90 23.40 35.58 25.64
Honeywell International Inc. 17.71 18.68 17.90 17.33 18.15 15.87 18.29 19.31 20.84 21.54 21.51 22.09 20.68 23.54 25.98 28.28 24.86
Lockheed Martin Corp. 15.35 15.88 14.04 12.99 12.49 12.87 13.18 15.02 14.06 13.30 11.97 13.61 11.56 10.22 11.57 12.37 10.63
RTX Corp. 26.47 26.63 52.96 35.67 34.37 35.06 20.81 24.68 26.48 24.82 26.15 29.36 28.68 35.30 46.33

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Operating profit per share = (Operating incomeQ4 2024 + Operating incomeQ3 2024 + Operating incomeQ2 2024 + Operating incomeQ1 2024) ÷ No. shares of common stock outstanding
= (1,224,000,000 + 1,211,000,000 + 1,193,000,000 + 1,004,000,000) ÷ 392,000,000 = 11.82

3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.

4 Q4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 290.38 ÷ 11.82 = 24.57

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Eaton Corp. plc P/OP ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Sales (P/S)

Eaton Corp. plc, historical P/S calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 392,000,000 395,200,000 398,100,000 399,800,000 399,500,000 399,300,000 399,000,000 398,600,000 398,000,000 397,700,000 398,300,000 399,000,000 398,800,000 398,600,000 398,600,000 398,500,000 398,100,000 398,600,000 400,100,000 400,000,000
Selected Financial Data (US$)
Net sales (in millions) 6,240 6,345 6,350 5,943 5,967 5,880 5,866 5,483 5,384 5,313 5,212 4,843 4,798 4,923 5,215 4,692 4,687 4,526 3,856 4,789
Sales per share2 63.46 62.26 60.64 59.17 58.06 56.63 55.25 53.67 52.14 50.71 49.65 49.57 49.22 48.96 47.97 44.57 44.86 0.00 0.00 0.00
Share price1, 3 290.38 331.58 297.88 318.26 289.00 207.91 219.00 173.25 172.78 151.64 146.39 146.58 149.31 171.63 162.81 144.67 132.68 111.25 96.89 83.50
Valuation Ratio
P/S ratio4 4.58 5.33 4.91 5.38 4.98 3.67 3.96 3.23 3.31 2.99 2.95 2.96 3.03 3.51 3.39 3.25 2.96
Benchmarks
P/S Ratio, Competitors5
Boeing Co. 1.98 1.32 1.60 1.32 1.66 1.42 1.91 1.73 1.90 1.30 1.53 1.50 1.87 1.93 2.20 2.44 1.96
Caterpillar Inc. 2.75 3.23 2.51 2.54 2.52 1.86 2.37 1.89 2.27 2.08 1.88 2.38 2.26 2.41 2.59 3.23 2.83
GE Aerospace 6.24 3.76 3.19 2.70 2.30 1.84 1.85 1.51 1.20 1.11 1.10 1.25 1.50 1.64 1.60 1.68 1.41
Honeywell International Inc. 3.42 3.59 3.52 3.41 3.51 3.19 3.61 3.68 3.78 3.78 3.72 3.84 3.73 4.32 4.66 4.78 4.34
Lockheed Martin Corp. 1.52 1.92 1.68 1.59 1.57 1.62 1.69 1.92 1.78 1.75 1.61 1.84 1.57 1.38 1.53 1.63 1.40
RTX Corp. 2.14 2.11 2.08 1.90 1.78 1.68 1.80 2.15 2.14 1.97 2.04 2.27 2.21 2.09 2.14 2.07 1.95

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
Sales per share = (Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024 + Net salesQ1 2024) ÷ No. shares of common stock outstanding
= (6,240,000,000 + 6,345,000,000 + 6,350,000,000 + 5,943,000,000) ÷ 392,000,000 = 63.46

3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.

4 Q4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 290.38 ÷ 63.46 = 4.58

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Eaton Corp. plc P/S ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.

Price to Book Value (P/BV)

Eaton Corp. plc, historical P/BV calculation (quarterly data)

Microsoft Excel
Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
No. shares of common stock outstanding1 392,000,000 395,200,000 398,100,000 399,800,000 399,500,000 399,300,000 399,000,000 398,600,000 398,000,000 397,700,000 398,300,000 399,000,000 398,800,000 398,600,000 398,600,000 398,500,000 398,100,000 398,600,000 400,100,000 400,000,000
Selected Financial Data (US$)
Total Eaton shareholders’ equity (in millions) 18,488 19,117 19,219 19,292 19,036 18,383 17,953 17,449 17,038 16,068 16,380 16,620 16,413 15,971 15,408 14,995 14,930 14,476 14,188 14,245
Book value per share (BVPS)2 47.16 48.37 48.28 48.25 47.65 46.04 44.99 43.78 42.81 40.40 41.12 41.65 41.16 40.07 38.66 37.63 37.50 36.32 35.46 35.61
Share price1, 3 290.38 331.58 297.88 318.26 289.00 207.91 219.00 173.25 172.78 151.64 146.39 146.58 149.31 171.63 162.81 144.67 132.68 111.25 96.89 83.50
Valuation Ratio
P/BV ratio4 6.16 6.85 6.17 6.60 6.07 4.52 4.87 3.96 4.04 3.75 3.56 3.52 3.63 4.28 4.21 3.84 3.54 3.06 2.73 2.34
Benchmarks
P/BV Ratio, Competitors5
Boeing Co.
Caterpillar Inc. 8.66 10.38 9.22 9.18 8.25 5.76 8.05 6.13 8.09 7.16 6.14 6.96 6.62 6.61 6.65 7.86 7.20 5.64 5.32 4.11
GE Aerospace 11.33 10.13 10.03 5.96 5.43 4.31 4.09 3.39 2.43 2.53 2.26 2.27 2.64 3.15 3.43 3.53 2.89 1.95 1.71 1.63
Honeywell International Inc. 7.08 7.81 7.76 7.64 8.11 6.74 7.54 7.81 8.02 7.46 7.31 7.17 6.91 8.39 8.83 8.67 8.07 6.40 5.78 5.46
Lockheed Martin Corp. 17.00 19.00 19.35 16.60 15.54 11.80 12.31 13.16 12.67 9.46 9.05 12.08 9.62 9.50 15.63 17.05 15.27 20.84 27.96 30.96
RTX Corp. 2.88 2.73 2.56 2.23 2.05 1.62 1.75 2.03 1.97 1.85 1.89 2.04 1.95 1.87 1.87 1.75 1.53 1.26 1.35 1.25

Based on: 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).

1 Data adjusted for splits and stock dividends.

2 Q4 2024 Calculation
BVPS = Total Eaton shareholders’ equity ÷ No. shares of common stock outstanding
= 18,488,000,000 ÷ 392,000,000 = 47.16

3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.

4 Q4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 290.38 ÷ 47.16 = 6.16

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Eaton Corp. plc P/BV ratio increased from Q2 2024 to Q3 2024 but then decreased significantly from Q3 2024 to Q4 2024.