Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
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Eaton Corp. plc, consolidated income statement (quarterly data)
US$ in millions
Based on: 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).
The financial data reveals clear directional movements and periodic fluctuations across key performance indicators over the analyzed quarters. Overall, net sales demonstrate a generally increasing trend from early 2020 through mid-2025, reflecting sustained growth with occasional moderation in some quarters. Notably, net sales rose from approximately 4,789 million USD at the first quarter of 2020 to over 7,000 million USD by the second quarter of 2025, indicating expansion in revenue-generating activities.
- Cost of Products Sold
- The cost of products sold increased alongside sales, moving from about 3,302 million USD in early 2020 to 4,431 million USD by late 2025. Despite the growth in absolute costs, the relative increase appears somewhat restrained compared to the growth in net sales, suggesting some improvement in cost control or product mix.
- Gross Profit
- Gross profit exhibits an upward trajectory consistent with sales trends. Starting near 1,487 million USD in early 2020, gross profit rose to nearly 2,600 million USD by the last quarter of 2025. This indicates maintaining and potentially improving margin stability despite rising costs.
- Selling and Administrative Expenses
- These expenses showed gradual growth over the period, increasing from approximately 865 million USD to over 1,100 million USD. The increase is steady but proportionate to revenue growth, suggesting ongoing investments in operational and administrative support without disproportionate expense inflation.
- Research and Development Expenses
- R&D spending increased moderately from around 153 million USD in Q1 of 2020 to roughly 190-200 million USD in the latest periods. This steady rise indicates a consistent commitment to innovation and product development aligned with corporate growth strategy.
- Gain on Sale of Business
- A notable one-time gain is recorded in mid-2020 and late 2021, with amounts around 221 million and 617 million USD respectively. This non-recurring income positively impacted operating income during those periods but did not show recurrence thereafter.
- Operating Income
- Operating income fluctuated somewhat but showed a generally positive upward trend, moving from 690 million USD in early 2020 to over 1,250 million USD by Q2 2025. Peaks correspond to quarters with gains on the sale of business, while other periods demonstrate consistent operational profitability improvements.
- Interest Expense, Net
- Interest expenses remained fairly stable, with minor fluctuations ranging mostly from 30 to 50 million USD per quarter. An exception is noted in mid-2025 where a spike to 71 million USD occurred, possibly signaling increased debt costs or refinancing activities.
- Other Income (Expense), Net
- Other income and expenses exhibit variability, alternating between negative and positive values. While typically small relative to operating income, these fluctuations indicate some volatility in non-operating financial activities or one-time items.
- Income Before Income Taxes
- This metric tracks closely with operating income, increasing progressively from 621 million USD to nearly 1,200 million USD. The pattern reflects overall enhanced profitability before tax considerations.
- Income Tax Expense
- The tax expense generally increased over time, varying between approximately 70 and 210 million USD quarterly. Despite some variability, tax expense growth aligns with rising pre-tax income, consistent with expected tax obligations on higher earnings.
- Net Income
- Net income attributable to shareholders rose steadily from 438 million USD in early 2020 to around 980 million USD by mid-2025. This reflects overall strong profit growth. Quarters with lower net income typically coincide with increased tax expenses or reduced non-operating gains.
In summary, the data suggest a positive financial trajectory characterized by increasing sales and profitability. Cost management appears effective given the gross profit improvements. The company demonstrates stable expense control in operating and R&D outlays, supporting innovation and operational needs. Exceptional gains from business sales provided intermittent boosts but were not a regular occurrence. Interest expenses remain controlled, though attention may be warranted on recent increases. Overall, profitability metrics point to sustained earnings growth and a solid financial position.