Stock Analysis on Net
Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Eaton Corp. plc, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 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
Cash
Short-term investments
Accounts receivable, net
Inventory
Assets held for sale
Prepaid expenses and other current assets
Current assets
Land and buildings
Machinery and equipment
Gross property, plant and equipment
Accumulated depreciation
Net property, plant and equipment
Goodwill
Other intangible assets
Operating lease assets
Deferred income taxes
Other assets
Other noncurrent assets
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 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).

Cash and Short-term Investments
Cash as a percentage of total assets fluctuates moderately, generally staying below 1.5% until a notable spike to 4.53% in March 2025, followed by a sharp decline afterwards. Short-term investments exhibit greater volatility, with two distinct peaks—one in December 2023 reaching 5.52%, followed by a further increase to 5.69% in June 2024, then a decline towards the end of the period observed. These fluctuations suggest changing liquidity management or investment strategy adjustments.
Accounts Receivable and Inventory
The proportion of accounts receivable relative to total assets gradually increases over the observed periods, rising from approximately 9.5% to nearly 13.7%, indicating potentially higher sales or extended credit terms. Similarly, inventory shows a steady upward trend from about 7.6% to over 11.3%, which may reflect increased stock accumulation or demand anticipation.
Current Assets
Current assets as a group show an overall increasing trend, from 28.11% rising to over 31% by mid-2025, with some fluctuations along the timeline. This is supported by rises in prepaid expenses and other current assets, which increase notably from under 2% to over 3% during the same period.
Property, Plant and Equipment (PP&E)
Gross PP&E remains fairly stable around the range of 22-24% of total assets, while accumulated depreciation consistently accounts for approximately -14% of total assets, slightly decreasing in magnitude towards the end. Net PP&E shows a mild but steady increase from about 9.5% to just above 10%, suggesting ongoing capital investment and asset retention.
Land and Buildings and Machinery and Equipment
Land and buildings display a slow decline from 6.75% to approximately 5.7%, indicative of divestitures or revaluations. Machinery and equipment remain relatively steady, fluctuating around 16-18% of total assets, showing consistency in operational capacity.
Goodwill and Other Intangible Assets
Goodwill represents a substantial portion of total assets, around 40%, but shows a gradual decline from 43.3% to about 38.9%, which could indicate impairment or asset revaluation. Other intangible assets also trend downward, from 17.7% down to roughly 12.6%, aligning with the declining goodwill, possibly reflecting asset amortization or disposals.
Operating Lease Assets and Deferred Income Taxes
Operating lease assets increase gradually from about 1.3% to slightly above 2%, indicating increased lease commitments or recognition. Deferred income taxes fluctuate slightly but depict a general increase from 1.1% to around 1.4%, which may correspond to evolving tax asset or liability balances.
Other Assets and Noncurrent Assets
Other asset categories remain relatively stable, hovering close to 5.5%, whereas other noncurrent assets show a declining trend from nearly 69% to about 60%. This decline in other noncurrent assets contributes to an overall decrease in the share of noncurrent assets, which fall from over 78% to under 70%, indicating a strategic shift or asset reclassification.
Overall Asset Structure
The total asset base as a percent of itself remains constant at 100%. However, compositionally there is a gradual shift with increasing current assets and decreasing noncurrent assets along with a slight reduction in intangible assets. This may suggest a strategy favoring more liquid or tangible assets over the periods covered.