Analysis of Revenues
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Revenues as Reported
Eaton Corp. plc, income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
- Overall Net Sales Trend
- Net sales show consistent growth from 17,858 million US dollars in 2020 to 24,878 million in 2024, representing a steady upward trajectory over five years.
- Products Segment
- The Products segment demonstrates growth from 2,255 million in 2020 to 3,009 million in 2024. An increase is particularly noticeable between 2021 and 2022, with continued moderate growth through 2024.
- Systems Segment
- Systems exhibit a strong upward trend, rising from 4,425 million in 2020 to 8,426 million in 2024. The growth accelerates notably after 2021, indicating expanding market demand or successful business activities in this segment.
- Electrical Americas
- Revenue in Electrical Americas grows significantly from 6,680 million in 2020 to 11,435 million in 2024. The increments each year suggest a robust expansion and strengthening presence within the Americas.
- Electrical Global
- The Electrical Global category shows steady growth from 4,703 million in 2020 to 6,248 million in 2024. Growth is more moderate compared to the Electrical Americas segment, indicating a more stable or mature market globally.
- United States and Rest of World
- The United States and Rest of World show data only for 2020 and 2021, with a decline in both regions between those years. Missing data for subsequent years limit trend analysis, but the initial decline could indicate challenges in these markets or a reclassification of reporting segments in later years.
- Hydraulics
- Hydraulics revenue declines from 1,842 million in 2020 to 1,300 million in 2021, with no data thereafter. The drop suggests potential market contraction or strategic changes, though absent data from 2022 onward prevent further conclusions.
- Original Equipment Manufacturers (OEM)
- OEM sales steadily increase from 986 million in 2020 to 1,500 million in 2024, demonstrating gradual expansion likely tied to new contracts or increased production volumes.
- Aftermarket
- The Aftermarket segment shows continuous growth from 685 million in 2020 to 1,312 million in 2024, indicating increasing customer base and enhanced revenue from service and support activities.
- Industrial and Other
- Revenue for Industrial and Other rises steadily from 552 million in 2020 to 931 million in 2024, reflecting consistent demand or diversification in related business lines.
- Aerospace
- Aerospace shows a clear upward trend, growing from 2,223 million in 2020 to 3,743 million in 2024. Despite fluctuations in the Commercial and Passenger and Light Duty subcategories, overall aerospace growth is robust.
- Commercial Subcategory
- Commercial sales increase from 1,060 million in 2020 to a peak of 1,785 million in 2023, followed by a slight decline to 1,707 million in 2024, suggesting some volatility or market corrections after rapid growth.
- Passenger and Light Duty Subcategory
- Passenger and Light Duty sales fluctuate modestly, increasing initially from 1,058 million in 2020 to 1,180 million in 2023 but declining to 1,083 million in 2024, signaling potential market saturation or competition effects.
- Vehicle Segment
- Vehicle revenue grows from 2,118 million in 2020 to 2,965 million in 2023 before declining to 2,790 million in 2024. This suggests a growing market with recent slight weakening or transitional market conditions.
- eMobility Segment
- eMobility experiences strong, consistent growth from 292 million in 2020 to 662 million in 2024, highlighting increasing adoption of electric mobility and expansion of related product offerings.