Price to Earnings (P/E)
since 2005
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Eaton Corp. plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
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Calculation
Eaton Corp. plc, P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to Eaton ordinary shareholders1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 29, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 10, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Eaton Corp. plc Annual Report.
The price-to-earnings (P/E) ratio for the period examined exhibits considerable fluctuation. Initially, from 2006 to 2008, the P/E ratio demonstrated a generally decreasing trend, moving from 12.82 to 11.89. A significant drop occurred in 2009, reaching a low of 5.65, before increasing substantially in 2010 to 29.60. Subsequent years showed volatility, with the ratio oscillating between approximately 12 and 20 until 2019. A notable increase was observed in 2020, rising to 18.06, followed by a substantial jump to 37.46 in 2021. The ratio then decreased to 27.77 in 2022 and 27.93 in 2023, before increasing again to 35.88 in 2024 and 30.00 in 2025. The most recent value, in 2026, is 35.55.
- Initial Period (2006-2008)
- The P/E ratio experienced a modest decline during this period, suggesting a potential shift in investor sentiment or earnings growth expectations. The values remained within a relatively narrow range, indicating a degree of stability despite the downward movement.
- 2009-2010 Volatility
- The dramatic decrease in the P/E ratio in 2009 likely reflects the impact of adverse economic conditions on earnings, or a significant decline in share price. The subsequent surge in 2010 suggests a recovery in earnings or a renewed positive outlook for the company.
- Mid-Period Stability (2011-2019)
- From 2011 through 2019, the P/E ratio remained relatively stable, fluctuating between approximately 12 and 16. This suggests a period of consistent, though not exceptional, performance and investor valuation. The ratio’s movement generally tracked changes in earnings and share price.
- Recent Increases (2020-2026)
- The P/E ratio experienced a significant increase beginning in 2020, peaking in 2021. This could be attributed to increased investor confidence, strong earnings growth, or a combination of both. While the ratio decreased slightly in 2022 and 2023, it has increased again in the most recent periods, indicating continued positive investor sentiment or expectations for future growth. The recent values are considerably higher than those observed in the earlier part of the examined period.
Overall, the P/E ratio demonstrates a pattern of cyclicality and responsiveness to both earnings performance and broader market conditions. The substantial increases in recent years warrant further investigation to determine the underlying drivers and sustainability of this trend.
Comparison to Competitors
Eaton Corp. plc, P/E, long-term trends, comparison to competitors
| Eaton Corp. plc | Boeing Co. | Caterpillar Inc. | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Feb 26, 2026 | |||||||
| Feb 27, 2025 | |||||||
| Feb 29, 2024 | |||||||
| Feb 23, 2023 | |||||||
| Feb 23, 2022 | |||||||
| Feb 24, 2021 | |||||||
| Feb 26, 2020 | |||||||
| Feb 27, 2019 | |||||||
| Feb 28, 2018 | |||||||
| Feb 22, 2017 | |||||||
| Feb 24, 2016 | |||||||
| Feb 26, 2015 | |||||||
| Feb 26, 2014 | |||||||
| Feb 28, 2013 | |||||||
| Feb 24, 2012 | |||||||
| Feb 25, 2011 | |||||||
| Feb 26, 2010 | |||||||
| Feb 27, 2009 | |||||||
| Feb 29, 2008 | |||||||
| Feb 28, 2007 | |||||||
| Mar 10, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Eaton Corp. plc, P/E, long-term trends, comparison to sector (capital goods)
| Eaton Corp. plc | Capital Goods | |
|---|---|---|
| Feb 26, 2026 | ||
| Feb 27, 2025 | ||
| Feb 29, 2024 | ||
| Feb 23, 2023 | ||
| Feb 23, 2022 | ||
| Feb 24, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 28, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Feb 28, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Feb 28, 2007 | ||
| Mar 10, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Eaton Corp. plc, P/E, long-term trends, comparison to industry (industrials)
| Eaton Corp. plc | Industrials | |
|---|---|---|
| Feb 26, 2026 | ||
| Feb 27, 2025 | ||
| Feb 29, 2024 | ||
| Feb 23, 2023 | ||
| Feb 23, 2022 | ||
| Feb 24, 2021 | ||
| Feb 26, 2020 | ||
| Feb 27, 2019 | ||
| Feb 28, 2018 | ||
| Feb 22, 2017 | ||
| Feb 24, 2016 | ||
| Feb 26, 2015 | ||
| Feb 26, 2014 | ||
| Feb 28, 2013 | ||
| Feb 24, 2012 | ||
| Feb 25, 2011 | ||
| Feb 26, 2010 | ||
| Feb 27, 2009 | ||
| Feb 29, 2008 | ||
| Feb 28, 2007 | ||
| Mar 10, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).