ETN · Eaton Corporation
Electrical Components & Equipment / Power Management (with Aerospace and Vehicle/eMobility powertrain segments)
ETN·Electrical Components & Equipment / Power Management (with Aerospace and Vehicle/eMobility powertrain segments)
Eaton Corporation

Eaton Corporation

ConvictionStrong

Diversified industrial OEM. Designs and manufactures electrical power-distribution, grid and data-center electrification hardware (Electrical Americas + Electrical Global, ~70% of sales), aerospace systems, and vehicle/eMobility powertrain; sold via distributors and direct to utilities, hyperscalers, OEMs and contractors. Revenue mixes large-project orders, catalog product and aftermarket, and is increasingly backlog-driven (~$19.6B total backlog, Q4 FY25).

Revenue
$27.4B FY25 / $28.5B TTMfact, FY25 10-K & TTM
Rev growth
+10% FY25+17% YoY in Q1 FY26 (fact; Q1 FY26 = 10% organic + 4% M&A + 3% FX
Gross margin
~38%estimate, derived; co. reports segment margin 23.4% FY25, not GAAP gross margin
Op margin
~22-23% segment operating marginfact; Q1 FY26 segment margin 22.7%, FY25 ~23.4%; GAAP op margin ~17%
Capex intensity
~3-4% of revenuefact/estimate; FY25 capex ~$0.9B, rising on US capacity expansion
Market cap
~$157-163Bfact, ~Jun 2026; ~388M sh x ~$420

Price · 1-year trend

real · weekly
$420+19% 1yUSD
52-week range
$318 – $426
52w lowas of 2026-06-25 · Yahoo Finance52w high
Across the boards

The thesis on this name

opportunityModerate

AI Compute Value-Chain

Full context
position · longWeak

AI Compute Value-Chain

Full context
book · long

AI Compute Value-Chain

Full context
opportunityStrong

AI datacenter power & cooling

Full context
position · longStrong

AI datacenter power & cooling

Full context
book · long

AI datacenter power & cooling

Full context
The read

Where our coverage leans

Coverage leans bullish

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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

  • Income statement & margin structure
  • SWOT, moats & dependency map
  • Supplier–customer ecosystem graph
  • Signals, trends & valuation range
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Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence
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