Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in millions

Microsoft Excel
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
Current portion of long-term debt
Accounts payable
Accrued compensation
Liabilities held for sale
Other current liabilities
Current liabilities
Long-term debt, excluding current portion
Pension liabilities
Other postretirement benefits liabilities
Noncurrent operating lease liabilities
Deferred income taxes
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Ordinary shares
Capital in excess of par value
Retained earnings
Accumulated other comprehensive loss
Shares held in trust
Total Eaton shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

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).


Overall, the liabilities and stockholders’ equity of the company demonstrate a fluctuating pattern over the observed period from March 2021 to December 2025. Total liabilities initially increased significantly before stabilizing and then experiencing a slight increase towards the end of the period. Total equity also exhibited fluctuations, generally tracking alongside liability changes, resulting in a relatively stable total liabilities and equity figure over the latter half of the analyzed timeframe.

Current Liabilities
Current liabilities experienced a substantial increase from March 2021 to June 2021, peaking at US$8,906 million. Following this peak, current liabilities decreased significantly, reaching US$6,360 million by December 2022. A subsequent rise occurred, culminating in US$9,370 million by December 2023, and continued to US$9,474 million by September 2025. Accounts payable consistently represent the largest component of current liabilities, exhibiting a steady upward trend throughout the period, increasing from US$2,172 million to US$4,168 million. Accrued compensation also showed an increasing trend, though less pronounced, rising from US$334 million to US$644 million. Short-term debt demonstrated significant volatility, peaking in June 2021 at US$3,373 million, then declining substantially and remaining relatively low through December 2023, before increasing again to US$805 million by March 2025.
Long-Term Debt
Long-term debt, excluding the current portion, generally decreased from US$8,682 million in March 2021 to US$6,831 million in December 2021. It then increased to US$8,321 million by December 2022, before fluctuating between approximately US$8,150 million and US$8,804 million through December 2023. A decline was observed in 2024 and 2025, reaching US$7,609 million by March 2025. Pension liabilities and other postretirement benefits liabilities both exhibited a decreasing trend over the period, though the declines were relatively modest. Noncurrent operating lease liabilities showed an increasing trend, rising from US$328 million to US$637 million. Deferred income taxes remained relatively stable, with minor fluctuations.
Stockholders’ Equity
Total stockholders’ equity increased from US$14,995 million in March 2021 to US$16,451 million in December 2021, then experienced a slight decrease to US$16,416 million in June 2022. A subsequent increase brought equity to US$17,075 million by December 2022, peaking at US$19,069 million in December 2023. It then decreased slightly to US$19,469 million by December 2025. Retained earnings consistently represent the largest component of equity, demonstrating a steady increase throughout the period, from US$6,883 million to US$10,702 million. Accumulated other comprehensive loss remained negative throughout the period, with a decreasing magnitude, indicating a reduction in accumulated losses. Capital in excess of par value remained relatively stable.

The combination of these trends suggests a dynamic financial structure. The company appears to manage its short-term obligations effectively, as evidenced by the fluctuations in short-term debt. The relatively stable long-term debt position indicates a consistent approach to long-term financing. The growth in stockholders’ equity, particularly through retained earnings, suggests profitability and value creation for shareholders.