Stock Analysis on Net
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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)

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
Short-term debt 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 0.00 0.01 0.46 1.09
Current portion of long-term debt 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 3.29 4.04 4.03 0.81
Accounts payable 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 6.24 5.77 5.34 5.79
Accrued compensation 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 1.10 1.08 0.84 0.89
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 1.43 1.47 1.47 1.37 1.42 1.48
Other current liabilities 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 6.37 6.47 6.00 5.97
Current liabilities 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% 18.48% 18.73% 18.09% 16.03%
Long-term debt, excluding current portion 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 22.03 22.42 22.76 25.42
Pension liabilities 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 4.99 4.33 4.36 4.29
Other postretirement benefits liabilities 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 1.04 1.03 1.06 1.04
Noncurrent operating lease liabilities 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 1.02 1.04 1.05 1.08
Deferred income taxes 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 0.87 0.99 1.02 1.15
Other noncurrent liabilities 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 4.52 4.59 4.75 4.66
Noncurrent liabilities 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% 34.47% 34.41% 35.01% 37.65%
Total liabilities 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% 52.95% 53.15% 53.09% 53.68%
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 0.01 0.01 0.01
Capital in excess of par value 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 38.74 39.59 40.29 39.56
Retained earnings 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 21.35 21.76 22.30 22.72
Accumulated other comprehensive loss -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 -13.18 -14.63 -15.85 -16.10
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 -0.01 -0.01 -0.01 -0.01 -0.01
Total Eaton shareholders’ equity 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% 46.91% 46.72% 46.75% 46.18%
Noncontrolling interests 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 0.14 0.14 0.15 0.14
Total equity 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% 47.05% 46.85% 46.91% 46.32%
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% 100.00% 100.00% 100.00%

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).

Short-term debt
The proportion of short-term debt relative to total liabilities and equity exhibited volatility throughout the examined quarters. Initially near zero, it surged to a peak of 9.16% in mid-2021 and thereafter declined significantly, stabilizing at low single-digit percentages in the later periods. This suggests fluctuating reliance on short-term borrowing, with a recent trend toward reduced short-term debt exposure.
Current portion of long-term debt
This item varied moderately, with values mostly ranging between 0.02% and 5.77%. A notable spike occurred in late 2021, followed by a decrease and then a gradual increase towards the end of the observed period. This indicates periodic refinancing or maturity-related repayment activities impacting current maturities of long-term debt.
Accounts payable
Accounts payable demonstrated a consistent upward trend, increasing gradually from approximately 5.79% to over 9.4%. This steady rise points to an increasing level of short-term operational liabilities held by the company.
Accrued compensation
Accrued compensation showed moderate fluctuations, generally oscillating between 0.84% and 1.76%, with some spikes indicating variation in accrued employee-related expenses. The data reflects periodic changes in compensation accruals but no sustained directional trend.
Liabilities held for sale
This liability was present only in the early periods and then disappeared, implying the company either disposed of or reclassified these assets/liabilities after early 2021.
Other current liabilities
These liabilities maintained a relatively stable proportion around 6-7.5%, showing minor fluctuations without clear increasing or decreasing patterns, indicating steady operational or miscellaneous liabilities.
Current liabilities (total)
Total current liabilities showed variability, moving mostly between 16% and 25% of total liabilities and equity. A notable peak occurred in mid-2021 and mid-2025. This suggests periodic shifts in short-term obligations, possibly linked to operational cycles or refinancing strategies.
Long-term debt, excluding current portion
The percentage of long-term debt fluctuated between approximately 17% and 25%, with a general tendency to decline from 2020 to 2022, followed by relative stabilization. This indicates some reduction in long-term leverage, though the company maintains a significant level of long-term borrowing.
Pension liabilities
Pension liabilities steadily decreased from over 4% in early 2020 to about 1.8% in later periods, indicating effective liability management, funding, or actuarial changes reducing the pension obligations relative to total capitalization.
Other postretirement benefits liabilities
These liabilities showed a gradual decrease from just over 1% to around 0.39%, suggesting ongoing reductions in obligations related to postretirement benefits.
Noncurrent operating lease liabilities
Noncurrent lease liabilities remained relatively stable around 1%, increasing slightly toward a peak near 1.74% by late 2024 before declining slightly. This pattern reflects stable lease obligations with a mild upward trend before slight normalization.
Deferred income taxes
The deferred tax liabilities showed a downward trend from about 1.15% to below 0.7%, suggesting changes in tax position or timing differences reducing deferred tax burden relative to total capitalization.
Other noncurrent liabilities
These remained fairly steady near 4%, with minor fluctuations. This stability suggests no major changes in miscellaneous long-term obligations.
Noncurrent liabilities (total)
The share of noncurrent liabilities decreased from the mid-30% range in early 2020 to approximately 30% later on, with some variability. This reflects a relative reduction in longer-term obligations compared to the total capitalization.
Total liabilities
Total liabilities as a portion of total liabilities and equity hovered around 50-55%, showing no strong trend but some short-term fluctuations. Overall, the firm maintained a balanced capital structure between liabilities and equity.
Shareholders’ equity components
Ordinary shares and capital in excess of par value
Ordinary shares remained constant and negligible in proportion. Capital in excess of par value declined gradually from approximately 40% to about 31.5%, reflecting possible share repurchases, retirements, or changes in capital structure over time.
Retained earnings
Retained earnings exhibited an increasing trend from about 22.7% to near 27.5%, indicating accumulation of undistributed earnings and profitability across these periods.
Accumulated other comprehensive loss
This item consistently showed negative values, decreasing in absolute magnitude from approximately -16% to around -10%, indicating a reduction in cumulative other comprehensive losses, which may relate to changes in unrealized gains/losses or currency translation adjustments.
Total Eaton shareholders’ equity
Total equity remained generally stable between roughly 41% and 50%, peaking around 49.5% in early 2024 before trending slightly lower. This shows maintained equity base with some variation due to comprehensive income and capital transactions.
Noncontrolling interests
These interests remained consistently very low around 0.1%, indicating minimal noncontrolling ownership influence on the total equity base.
Overall capital structure
The capital structure displayed a roughly balanced split between liabilities and equity, with total liabilities plus equity always summing to 100%. The company showed moderate leverage with a slight shift toward lower long-term liabilities offset by a stable equity position and increasing retained earnings. The stability of current and other liabilities suggests a conservative operational liability management approach.