Stock Analysis on Net
Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

Eaton Corp. plc, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Dec 31, 2025 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
Short-term debt 0.00 1.87 2.74 2.05 0.00 0.01 0.01 0.00 0.02 0.06 0.26 0.24 0.93 2.63 3.96 3.17 0.04 1.25 9.16 1.36
Current portion of long-term debt 2.75 2.79 2.80 4.25 1.76 1.82 3.25 2.58 2.65 2.61 1.09 0.02 0.03 0.07 5.77 4.91 5.10 0.34 0.02 2.97
Accounts payable 10.10 9.41 9.29 9.32 9.58 9.20 8.88 8.82 8.76 8.73 8.68 8.78 8.77 8.55 8.57 8.14 8.22 7.59 6.75 6.37
Accrued compensation 1.56 1.67 1.31 1.25 1.75 1.75 1.34 1.28 1.76 1.59 1.26 0.99 1.33 1.26 1.03 0.94 1.47 1.43 1.15 0.98
Liabilities held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.43 1.47
Other current liabilities 8.29 7.55 7.55 7.42 7.39 7.46 7.14 7.07 6.98 7.29 6.99 7.11 7.10 6.86 6.19 6.29 6.37 6.71 5.68 6.16
Current liabilities 22.71% 23.31% 23.69% 24.29% 20.47% 20.24% 20.62% 19.76% 20.16% 20.28% 18.29% 17.14% 18.16% 19.36% 25.53% 23.45% 21.19% 17.33% 24.20% 19.31%
Long-term debt, excluding current portion 21.23 21.54 21.60 19.41 22.09 22.12 21.72 21.26 21.45 21.86 23.94 24.50 23.76 23.52 17.86 19.21 20.08 24.96 23.70 25.48
Pension liabilities 1.70 1.83 1.87 1.87 1.93 1.81 1.80 1.89 2.00 1.64 1.75 1.83 1.85 2.38 2.20 2.36 2.56 3.02 2.95 3.76
Other postretirement benefits liabilities 0.39 0.39 0.40 0.41 0.43 0.44 0.44 0.46 0.47 0.46 0.47 0.49 0.51 0.72 0.72 0.74 0.77 0.80 0.87 0.96
Noncurrent operating lease liabilities 1.54 1.40 1.45 1.71 1.74 1.74 1.67 1.56 1.39 1.30 1.31 1.31 1.31 1.30 1.10 0.97 0.99 1.01 0.99 0.96
Deferred income taxes 0.64 0.71 0.69 0.68 0.72 0.99 1.09 1.09 1.05 1.23 1.44 1.51 1.51 1.53 1.79 1.80 1.64 1.45 1.34 1.31
Other noncurrent liabilities 4.58 4.37 4.27 4.33 4.34 3.83 3.77 3.84 3.87 3.83 3.88 3.99 4.12 4.33 4.11 4.16 4.41 4.52 3.97 4.10
Noncurrent liabilities 30.09% 30.24% 30.28% 28.40% 31.25% 30.92% 30.49% 30.09% 30.22% 30.32% 32.80% 33.63% 33.07% 33.78% 27.77% 29.24% 30.46% 35.75% 33.82% 36.57%
Total liabilities 52.80% 53.54% 53.96% 52.69% 51.72% 51.16% 51.11% 49.85% 50.38% 50.60% 51.08% 50.77% 51.24% 53.14% 53.30% 52.69% 51.65% 53.08% 58.02% 55.88%
Ordinary shares 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Capital in excess of par value 31.12 31.52 31.55 32.42 33.17 32.36 32.15 32.77 32.87 33.80 34.14 35.20 35.74 36.31 35.42 35.30 36.59 36.37 33.61 36.19
Retained earnings 25.94 25.01 24.48 25.61 26.30 26.42 26.97 27.52 26.81 26.02 24.90 24.66 24.18 23.48 22.43 21.89 22.32 21.52 19.20 20.20
Accumulated other comprehensive loss -9.98 -10.19 -10.11 -10.84 -11.31 -10.06 -10.33 -10.24 -10.16 -10.53 -10.22 -10.74 -11.27 -13.05 -11.27 -9.99 -10.68 -11.10 -10.95 -12.40
Shares held in trust 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.01
Total Eaton shareholders’ equity 47.09% 46.35% 45.93% 47.20% 48.17% 48.72% 48.80% 50.06% 49.53% 49.30% 48.82% 49.13% 48.66% 46.76% 46.60% 47.21% 48.24% 46.80% 41.87% 44.00%
Noncontrolling interests 0.11 0.10 0.10 0.10 0.11 0.11 0.09 0.09 0.09 0.10 0.10 0.10 0.11 0.10 0.10 0.10 0.11 0.13 0.11 0.12
Total equity 47.20% 46.46% 46.04% 47.31% 48.28% 48.84% 48.89% 50.15% 49.62% 49.40% 48.92% 49.23% 48.76% 46.86% 46.70% 47.31% 48.35% 46.92% 41.98% 44.12%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 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).

The composition of liabilities and stockholders’ equity exhibited several notable trends over the observed period from March 2021 to December 2025. Overall, total liabilities generally remained between 51% and 59% of total liabilities and equity, while total equity fluctuated between 41% and 49%. A closer examination of individual components reveals more specific patterns.

Short-Term Debt
Short-term debt as a percentage of total liabilities and equity demonstrated significant volatility. It peaked in June 2021 at 9.16% before declining substantially to minimal levels by December 2023 (0.02%). A slight increase was observed in the final periods, reaching 2.74% in June 2025. This suggests a strategic shift in short-term financing practices, potentially reducing reliance on short-term borrowing.
Current Liabilities
Current liabilities consistently represented a substantial portion of total liabilities and equity, generally ranging from approximately 17% to 26%. A peak was observed in June 2022 (25.53%), followed by a decline and a subsequent rise towards the end of the period. Accounts payable consistently formed the largest component of current liabilities, steadily increasing from 6.37% in March 2021 to 10.10% in September 2023, and continuing to rise to 10.10% in December 2023 before stabilizing around 8-9%.
Long-Term Debt
Long-term debt, excluding the current portion, remained relatively stable, typically constituting between 17% and 26% of the total. A slight downward trend was apparent from 2021 to 2023, followed by a modest recovery in later periods. The current portion of long-term debt showed more fluctuation, peaking in March 2021 (2.97%) and December 2021 (5.10%) before generally decreasing, with a notable increase again in March 2025 (4.25%).
Pension and Postretirement Liabilities
Both pension liabilities and other postretirement benefit liabilities exhibited a gradual decreasing trend as a percentage of total liabilities and equity throughout the period. This suggests a potential reduction in these long-term obligations, possibly through benefit freezes or changes in actuarial assumptions. Noncurrent operating lease liabilities showed a consistent increase over the period, rising from 0.96% to 1.54%.
Stockholders’ Equity
Total stockholders’ equity remained a significant component, fluctuating between approximately 42% and 49% of the total. Retained earnings consistently represented the largest portion of equity, generally between 20% and 27%. Capital in excess of par value remained relatively stable, typically between 32% and 36%. Accumulated other comprehensive loss consistently represented a negative equity component, ranging from -12.40% to -9.98%, indicating unrealized losses impacting equity.

In summary, the liability structure demonstrated a shift away from short-term debt and a consistent reliance on accounts payable and long-term debt. Equity remained a substantial portion of the capital structure, with retained earnings being the primary driver. The observed trends suggest a dynamic approach to financial management, adapting to changing economic conditions and strategic priorities.

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