Stock Analysis on Net

Eaton Corp. plc (NYSE:ETN)

Analysis of Long-term (Investment) Activity Ratios 
Quarterly Data

Microsoft Excel

Long-term Activity Ratios (Summary)

Eaton Corp. plc, long-term (investment) activity ratios (quarterly data)

Microsoft Excel
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
Net fixed asset turnover 6.72 6.67 6.63 6.70 6.65 6.57 6.77 6.75 6.67 6.59 6.80 6.50 6.38 6.41 6.45 6.25 6.08 6.02
Net fixed asset turnover (including operating lease, right-of-use asset) 5.53 5.49 5.43 5.50 5.53 5.55 5.74 5.71 5.65 5.58 5.73 5.59 5.58 5.60 5.62 5.42 5.30 5.26
Total asset turnover 0.65 0.65 0.63 0.61 0.61 0.60 0.61 0.60 0.60 0.59 0.59 0.56 0.56 0.58 0.57 0.52 0.52 0.56
Equity turnover 1.37 1.35 1.29 1.26 1.23 1.22 1.23 1.23 1.23 1.22 1.26 1.21 1.19 1.20 1.22 1.24 1.18 1.20

Based on: 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 analysis of the financial ratios over the reported periods reveals several key trends in asset and equity efficiency metrics.

Net Fixed Asset Turnover
The ratio shows a generally increasing trend from 6.02 in March 2021 to peak at 6.8 by December 2022, indicating improved efficiency in utilizing net fixed assets to generate sales over this timeframe. Subsequently, the ratio exhibits minor fluctuations, maintaining levels close to 6.6–6.7 up to March 2025, suggesting stabilization in asset utilization efficiency after the initial growth phase.
Net Fixed Asset Turnover (Including Operating Lease, Right-of-Use Asset)
This adjusted metric follows a similar pattern to the basic net fixed asset turnover but consistently records lower values, reflecting the inclusion of right-of-use assets in the base. Starting at 5.26 in March 2021, it increases moderately to 5.74 by December 2023, after which it experiences a slight decline and stabilizes around 5.4 to 5.5 through March 2025. This indicates that when accounting for leased assets, the turnover improves but is subject to minor variations toward the end of the period.
Total Asset Turnover
The total asset turnover ratio begins at 0.56 in March 2021, dips to 0.52 in the middle quarters of 2021, and subsequently trends upwards reaching 0.65 by the end of the analyzed periods in March 2025. This upward movement indicates an improving capability to generate revenue from the total asset base, reflecting enhanced operational efficiency in asset usage over time.
Equity Turnover
Equity turnover remains relatively stable initially, fluctuating slightly around 1.2 to 1.26 from March 2021 through December 2022. From early 2023 onwards, a steady upward trend emerges, with the ratio increasing to 1.37 by March 2025. This indicates more effective use of equity capital to drive revenues, with efficiency gains becoming more pronounced toward the latter periods.

Overall, the data presents a narrative of improving asset utilization and equity efficiency over the reviewed periods, with initial rapid gains followed by a stabilization phase for fixed asset metrics and continuous gradual improvements in total asset and equity turnovers. The adjusted net fixed asset turnover ratio reflects some moderation in performance when incorporating leased assets, suggesting that these assets contribute slightly differently to sales generation efficiency compared to owned fixed assets.


Net Fixed Asset Turnover

Eaton Corp. plc, net fixed asset turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Net sales 6,377 6,240 6,345 6,350 5,943 5,967 5,880 5,866 5,483 5,384 5,313 5,212 4,843 4,798 4,923 5,215 4,692 4,687 4,526 3,856 4,789
Net property, plant and equipment 3,765 3,729 3,711 3,604 3,558 3,530 3,341 3,267 3,206 3,147 2,967 3,043 3,098 3,064 3,025 3,058 2,922 2,964 2,916 2,904 2,939
Long-term Activity Ratio
Net fixed asset turnover1 6.72 6.67 6.63 6.70 6.65 6.57 6.77 6.75 6.67 6.59 6.80 6.50 6.38 6.41 6.45 6.25 6.08 6.02
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 6.06 5.83 6.52 6.70 7.15 7.30 7.23 7.04 6.72 6.31 5.85 5.72 5.68 5.70 5.65 5.44 4.85 4.92
Caterpillar Inc. 4.45 4.59 4.85 5.01 5.08 5.04 5.17 5.10 4.91 4.70 4.62 4.36 4.18 3.99 3.84 3.59 3.32 3.15
GE Aerospace 4.85 4.83 6.03 7.23 4.77 5.17 5.50 5.58 5.84 5.08 5.04 4.83 4.73 4.55 4.53 4.45 4.33 1.63
Honeywell International Inc. 6.31 6.22 6.50 6.49 6.48 6.48 6.64 6.59 6.57 6.48 6.54 6.45 6.27 6.18 6.28 6.15 5.88 5.86
Lockheed Martin Corp. 8.24 8.14 8.43 8.47 8.34 8.07 8.41 8.46 8.33 8.27 8.48 8.48 8.70 8.83 9.05 9.17 9.15 9.07
RTX Corp. 5.07 5.02 4.98 4.61 4.54 4.38 4.37 4.61 4.53 4.42 4.50 4.43 4.37 4.30 4.39 4.25 4.10 3.78

Based on: 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).

1 Q1 2025 Calculation
Net fixed asset turnover = (Net salesQ1 2025 + Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024) ÷ Net property, plant and equipment
= (6,377 + 6,240 + 6,345 + 6,350) ÷ 3,765 = 6.72

2 Click competitor name to see calculations.


The analysis of the quarterly financial data reveals several notable trends in sales, asset investment, and asset efficiency over the observed periods.

Net Sales
Net sales exhibited variability in the earlier quarters, decreasing from approximately $4,789 million in Q1 2020 to a low near $3,856 million in Q2 2020. Following this trough, sales showed a recovery and a general upward trend, peaking multiple times from 2022 through early 2025. Specifically, from early 2022 onward, net sales increased steadily, reaching approximately $6,377 million by Q1 2025. This pattern indicates a recovery from an early dip, followed by sustained growth during the later periods.
Net Property, Plant and Equipment (PP&E)
The investment in net property, plant, and equipment remained relatively stable across the periods, with values fluctuating modestly between around $2,900 million and $3,700 million. There was a slight upward trajectory beginning in mid-2022, where net PP&E rose from approximately $3,043 million to about $3,765 million by Q1 2025. This gradual increase suggests ongoing capital investment or asset accumulation during the last several quarters.
Net Fixed Asset Turnover Ratio
The net fixed asset turnover ratio, reported from Q3 2020 onwards, demonstrates consistently high turnover levels, generally ranging from about 6.0 to 6.8 times. Over time, the ratio trended slightly upward, moving from roughly 6.02 in late 2020 to around 6.67 in Q1 2025. The relatively high and stable turnover ratios indicate efficient utilization of fixed assets to generate sales. The increasing trend also suggests improving operational efficiency or enhanced asset productivity over the reported period.

In summary, the financial data indicates a recovery and growth trajectory in sales following a dip in 2020, a steady but moderate increase in capital assets, and consistent to improving fixed asset efficiency. These combined factors suggest positive operational momentum with effective asset management supporting expanding sales volumes.


Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Eaton Corp. plc, net fixed asset turnover (including operating lease, right-of-use asset) calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Net sales 6,377 6,240 6,345 6,350 5,943 5,967 5,880 5,866 5,483 5,384 5,313 5,212 4,843 4,798 4,923 5,215 4,692 4,687 4,526 3,856 4,789
 
Net property, plant and equipment 3,765 3,729 3,711 3,604 3,558 3,530 3,341 3,267 3,206 3,147 2,967 3,043 3,098 3,064 3,025 3,058 2,922 2,964 2,916 2,904 2,939
Operating lease assets 813 806 817 785 722 648 600 594 579 570 555 493 449 442 448 470 429 428 421 419 434
Net property, plant and equipment (including operating lease, right-of-use asset) 4,578 4,535 4,528 4,389 4,280 4,178 3,941 3,861 3,785 3,717 3,522 3,536 3,547 3,506 3,473 3,528 3,351 3,392 3,337 3,323 3,373
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.53 5.49 5.43 5.50 5.53 5.55 5.74 5.71 5.65 5.58 5.73 5.59 5.58 5.60 5.62 5.42 5.30 5.26
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
RTX Corp. 4.53 4.50 4.46 4.17 4.11 3.96 3.92 4.13 4.04 3.95 4.01 3.93 3.87 3.80 3.89 3.76 3.63 3.36

Based on: 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).

1 Q1 2025 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = (Net salesQ1 2025 + Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024) ÷ Net property, plant and equipment (including operating lease, right-of-use asset)
= (6,377 + 6,240 + 6,345 + 6,350) ÷ 4,578 = 5.53

2 Click competitor name to see calculations.


Net Sales Trends
Net sales show a fluctuating pattern from the first quarter of 2020 through the first quarter of 2025. There was an initial decline from 4,789 million US dollars in March 2020 to 3,856 million in June 2020, likely impacted by external factors in that period. After this dip, net sales gradually recovered and increased, reaching a peak of 6,377 million US dollars in March 2025. Notably, the sales figures maintained an upward trend from early 2021 onwards, with some quarter-to-quarter variations but generally trending higher toward the last reported date.
Net Property, Plant and Equipment Trends
The net property, plant, and equipment (including operating lease and right-of-use assets) values exhibit a steady increase over the observed periods. Starting at 3,373 million US dollars in March 2020, the figures slightly dipped but consistently rose from early 2021, reaching 4,578 million US dollars by March 2025. This consistent growth suggests ongoing capital investment and asset accumulation over the analyzed timeframe.
Net Fixed Asset Turnover Ratio Trends
The net fixed asset turnover ratio, available from the end of 2020, remains relatively stable, fluctuating in a narrow range between about 5.26 and 5.74. It peaked slightly in December 2021 at 5.74, then showed a mild downward tendency but generally hovered close to 5.5 in subsequent periods up to the first quarter of 2025. This stability in turnover ratio indicates relatively consistent efficiency in utilizing fixed assets to generate net sales despite changes in asset base and sales volume.
Summary Insights
The data indicates that while net sales experienced initial volatility, they trended upward strongly after mid-2020, coinciding with progressively larger investments in property, plant, and equipment. The gradual increase in asset base, combined with a stable asset turnover ratio, reflects sustained operational efficiency. This balance suggests a positive alignment between asset utilization and revenue growth, supporting a potentially robust capacity expansion or modernization strategy. The overall financial trajectory implies strengthening business performance and asset management effectiveness over the reported periods.

Total Asset Turnover

Eaton Corp. plc, total asset turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Net sales 6,377 6,240 6,345 6,350 5,943 5,967 5,880 5,866 5,483 5,384 5,313 5,212 4,843 4,798 4,923 5,215 4,692 4,687 4,526 3,856 4,789
Total assets 39,206 38,381 39,236 39,381 38,535 38,432 37,289 36,772 35,517 35,014 34,364 35,153 35,208 34,027 34,128 36,804 34,080 31,824 30,985 30,348 30,845
Long-term Activity Ratio
Total asset turnover1 0.65 0.65 0.63 0.61 0.61 0.60 0.61 0.60 0.60 0.59 0.59 0.56 0.56 0.58 0.57 0.52 0.52 0.56
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.44 0.43 0.53 0.52 0.57 0.57 0.56 0.55 0.52 0.49 0.45 0.45 0.45 0.45 0.43 0.41 0.38 0.38
Caterpillar Inc. 0.70 0.70 0.72 0.76 0.76 0.73 0.73 0.72 0.70 0.69 0.66 0.63 0.61 0.58 0.57 0.53 0.50 0.50
GE Aerospace 0.29 0.29 0.35 0.42 0.36 0.40 0.43 0.42 0.43 0.39 0.40 0.39 0.37 0.36 0.30 0.30 0.29 0.29
Honeywell International Inc. 0.52 0.51 0.52 0.54 0.56 0.60 0.59 0.58 0.60 0.57 0.58 0.55 0.54 0.53 0.54 0.53 0.51 0.51
Lockheed Martin Corp. 1.27 1.28 1.28 1.29 1.27 1.29 1.19 1.18 1.21 1.25 1.24 1.24 1.28 1.32 1.28 1.28 1.28 1.29
RTX Corp. 0.50 0.50 0.48 0.45 0.44 0.43 0.41 0.44 0.42 0.42 0.42 0.41 0.41 0.40 0.40 0.39 0.38 0.35

Based on: 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).

1 Q1 2025 Calculation
Total asset turnover = (Net salesQ1 2025 + Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024) ÷ Total assets
= (6,377 + 6,240 + 6,345 + 6,350) ÷ 39,206 = 0.65

2 Click competitor name to see calculations.


Net Sales
Net sales show a fluctuating but generally upward trend over the analyzed period. Starting at 4,789 million US dollars in the first quarter of 2020, there was a significant decrease to 3,856 million in the following quarter, likely reflecting short-term impacts on revenue. Subsequently, net sales recovered and maintained a growth trajectory, reaching 6,377 million US dollars by the first quarter of 2025. Notably, the recovery was steady from mid-2020 onward, with periodic increases each quarter and occasional plateaus, such as the close figures between the third and fourth quarters of 2024.
Total Assets
Total assets exhibit an overall increasing trend, indicating expansion or accumulation of company resources. From 30,845 million US dollars at the end of the first quarter of 2020, total assets rose to a peak of 39,532 million US dollars during 2024 before a slight decrease to 39,206 million in the first quarter of 2025. This gradual increase points to consistent investment or asset acquisition over time, with minor fluctuations, especially around 2022 and 2023 where values slightly dipped before rising again.
Total Asset Turnover
Total asset turnover, representing the efficiency with which the company uses its assets to generate sales, shows a general improvement throughout the observed period. Early 2020 data is missing, but starting from the third quarter of 2020 at 0.56, the ratio mostly increases with some minor variations, reaching 0.65 by the first quarter of 2025. This upward trend suggests enhanced operational efficiency or better utilization of assets to drive sales revenue over time. The steady increase in turnover aligns with the growth in net sales relative to total assets.
Overall Analysis
The financial data indicates a recovery phase followed by continuous growth in net sales post the second quarter of 2020, likely reflecting adaptability to changing market conditions. Concurrently, total assets have been steadily amassed, supporting growth activities. The corresponding increase in total asset turnover ratio suggests that asset management and sales generation have both improved, indicating strengthened operational performance. The company appears to be managing its resources more effectively to generate higher revenues relative to its asset base as time progresses.

Equity Turnover

Eaton Corp. plc, equity turnover calculation (quarterly data)

Microsoft Excel
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
Selected Financial Data (US$ in millions)
Net sales 6,377 6,240 6,345 6,350 5,943 5,967 5,880 5,866 5,483 5,384 5,313 5,212 4,843 4,798 4,923 5,215 4,692 4,687 4,526 3,856 4,789
Total Eaton shareholders’ equity 18,506 18,488 19,117 19,219 19,292 19,036 18,383 17,953 17,449 17,038 16,068 16,380 16,620 16,413 15,971 15,408 14,995 14,930 14,476 14,188 14,245
Long-term Activity Ratio
Equity turnover1 1.37 1.35 1.29 1.26 1.23 1.22 1.23 1.23 1.23 1.22 1.26 1.21 1.19 1.20 1.22 1.24 1.18 1.20
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc. 3.31 3.15 3.21 3.68 3.61 3.28 3.10 3.39 3.24 3.57 3.45 3.26 2.92 2.92 2.74 2.57 2.43 2.55
GE Aerospace 1.87 1.82 2.32 2.76 1.97 2.36 2.34 2.21 2.24 2.02 2.29 2.06 1.82 1.76 1.92 2.15 2.10 2.05
Honeywell International Inc. 2.25 2.07 2.17 2.20 2.24 2.31 2.11 2.09 2.13 2.12 1.97 1.96 1.87 1.85 1.94 1.89 1.81 1.86
Lockheed Martin Corp. 10.75 11.22 9.90 11.51 10.47 9.89 7.30 7.29 6.86 7.12 5.41 5.61 6.57 6.12 6.89 10.24 10.46 10.87
RTX Corp. 1.33 1.34 1.29 1.23 1.17 1.15 0.96 0.97 0.94 0.92 0.94 0.93 0.89 0.88 0.89 0.88 0.84 0.78

Based on: 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).

1 Q1 2025 Calculation
Equity turnover = (Net salesQ1 2025 + Net salesQ4 2024 + Net salesQ3 2024 + Net salesQ2 2024) ÷ Total Eaton shareholders’ equity
= (6,377 + 6,240 + 6,345 + 6,350) ÷ 18,506 = 1.37

2 Click competitor name to see calculations.


The financial data reveals several notable trends regarding net sales, shareholders' equity, and equity turnover ratios over the examined periods.

Net Sales
Net sales experienced fluctuations across the period, starting at 4,789 million US dollars in March 2020, declining to a low point of 3,856 million in June 2020, likely reflecting short-term disruptions. Following this, net sales showed a general upward trajectory with incremental increases. From March 2021 onwards, sales consistently improved, peaking at 6,377 million in March 2025. Despite minor variations, the overall trend indicates steady growth over the five-year period, suggesting improved revenue generation and market demand.
Total Eaton Shareholders’ Equity
Shareholders’ equity demonstrated steady growth initially, rising from 14,245 million US dollars in March 2020 to a peak of 19,292 million in June 2024. However, from that peak, a slight decline ensued reaching 18,488 million by March 2025. This pattern suggests an overall strengthening of the equity base over the long term, reflecting either retained earnings growth or capital contributions, with a mild contraction observed towards the final period which may warrant further investigation.
Equity Turnover Ratio
The equity turnover ratio, reported starting from the last quarter of 2020, remained relatively stable with minor fluctuations. The ratio began at 1.20 and slightly varied between 1.18 and 1.26 across quarters through to early 2023. From mid-2023 onward, the ratio showed a gradual increasing trend, rising from 1.23 to 1.37 by the first quarter of 2025. This upward movement indicates improving efficiency in utilizing shareholders' equity to generate sales, suggesting operational improvements or enhanced asset productivity over the later periods.

In summary, the company’s financial data points to resilient net sales growth following an initial setback, a generally increasing equity base with recent slight declines, and improving efficiency in equity usage as indicated by the rising equity turnover ratio. These patterns collectively imply strengthening financial performance and effective capital utilization trending positively into the latest periods.