Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Historical Valuation Ratios (Summary)
Eaton Corp. plc, historical price multiples (quarterly data)
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).
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibits a notable increase starting from March 2021, reaching a peak in June 2021. From this point, there is a general downward trend through March 2022, followed by fluctuations around the mid-20s to mid-30s range up to June 2025. The decline after the mid-2021 peak suggests a market adjustment or improved earnings relative to price. The ratios remain relatively volatile without a clear sustained directional trend after mid-2021.
- Price to Operating Profit (P/OP) Ratio
- Starting at 25.83 in March 2021, the P/OP ratio initially rises, reaching around 30 in June 2021, then decreases steadily to about 18 by September 2022. After this reduction phase, the ratio fluctuates between roughly 21.5 to 31.1 until the end of 2024. Toward June 2025, it declines again to mid-20s. This pattern indicates an oscillating market valuation relative to operating profit, with periods of increased investor willingness to pay higher multiples followed by corrections.
- Price to Sales (P/S) Ratio
- The P/S ratio shows a relatively stable increase over the observed periods, beginning near 2.96 in March 2021 and rising steadily to reach above 5 by late 2024. The increase signifies a growing investor emphasis or confidence in sales growth or prospects. Despite minor fluctuations, the upward trajectory is consistent, reflecting a strengthening valuation relative to sales.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates a clear upward trend over the entire period from March 2020 to June 2025, moving from 2.34 to above 7. This gradual rise indicates a growing premium over book value being placed by the market, potentially reflecting increased investor confidence, goodwill, or intangible asset values. There are occasional fluctuations, such as a slight dip in late 2021, but the overall movement is strongly upward.
Price to Earnings (P/E)
Eaton Corp. plc, historical P/E calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 389,300,000 | 391,300,000 | 392,000,000 | 395,200,000 | 398,100,000 | 399,800,000 | 399,500,000 | 399,300,000 | 399,000,000 | 398,600,000 | 398,000,000 | 397,700,000 | 398,300,000 | 399,000,000 | 398,800,000 | 398,600,000 | 398,600,000 | 398,500,000 | 398,100,000 | 398,600,000 | 400,100,000 | 400,000,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income attributable to Eaton ordinary shareholders (in millions) | 982) | 964) | 971) | 1,009) | 993) | 821) | 945) | 891) | 744) | 638) | 722) | 607) | 601) | 532) | 551) | 629) | 506) | 458) | 475) | 446) | 51) | 438) | |||||||
| Earnings per share (EPS)2 | 10.08 | 10.06 | 9.68 | 9.53 | 9.17 | 8.51 | 8.06 | 7.50 | 6.79 | 6.44 | 6.19 | 5.76 | 5.81 | 5.56 | 5.38 | 5.19 | 4.73 | 3.59 | 3.54 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 356.45 | 299.71 | 290.38 | 331.58 | 297.88 | 318.26 | 289.00 | 207.91 | 219.00 | 173.25 | 172.78 | 151.64 | 146.39 | 146.58 | 149.31 | 171.63 | 162.81 | 144.67 | 132.68 | 111.25 | 96.89 | 83.50 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | 35.35 | 29.79 | 30.00 | 34.78 | 32.49 | 37.41 | 35.88 | 27.72 | 32.23 | 26.89 | 27.93 | 26.32 | 25.21 | 26.37 | 27.77 | 33.08 | 34.43 | 40.32 | 37.46 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Caterpillar Inc. | 21.23 | 15.18 | 15.65 | 18.85 | 14.35 | 14.40 | 15.55 | 12.95 | 17.55 | 15.65 | 19.15 | 15.15 | 14.29 | 18.28 | 16.82 | 21.38 | 25.50 | 37.92 | 36.80 | — | — | — | |||||||
| GE Aerospace | 35.93 | 28.84 | 33.42 | 30.60 | 40.07 | 52.90 | 16.18 | 12.72 | 13.82 | 12.78 | — | — | — | — | — | — | — | — | 19.67 | — | — | — | |||||||
| Honeywell International Inc. | 24.93 | 23.88 | 23.10 | 23.93 | 22.74 | 21.95 | 22.73 | 21.44 | 23.92 | 25.30 | 26.97 | 24.58 | 25.26 | 25.10 | 23.14 | 27.35 | 31.83 | 33.71 | 29.63 | — | — | — | |||||||
| Lockheed Martin Corp. | 22.81 | 19.67 | 20.18 | 20.49 | 17.74 | 16.29 | 15.35 | 15.71 | 16.11 | 22.32 | 20.48 | 19.28 | 22.00 | 19.45 | 16.70 | 15.11 | 14.27 | 15.48 | 13.44 | — | — | — | |||||||
| RTX Corp. | 32.49 | 33.04 | 36.25 | 35.41 | 66.73 | 38.75 | 38.31 | 35.32 | 22.79 | 26.67 | 27.59 | 29.12 | 29.83 | 35.16 | 36.79 | 40.28 | 60.91 | — | — | — | — | — | |||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net income attributable to Eaton ordinary shareholdersQ2 2025
+ Net income attributable to Eaton ordinary shareholdersQ1 2025
+ Net income attributable to Eaton ordinary shareholdersQ4 2024
+ Net income attributable to Eaton ordinary shareholdersQ3 2024)
÷ No. shares of common stock outstanding
= (982,000,000 + 964,000,000 + 971,000,000 + 1,009,000,000)
÷ 389,300,000 = 10.08
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= 356.45 ÷ 10.08 = 35.35
5 Click competitor name to see calculations.
The financial data exhibits several notable trends in key metrics over the observed periods.
- Share Price
- The share price shows an overall upward trajectory from March 31, 2020, through June 30, 2025. Starting at $83.5, it increases steadily with some fluctuations. For instance, after peaking at $171.63 in September 2021, a dip is observed by December 2021 at $149.31 and continues relatively stable into early 2022. Subsequently, a significant surge is registered from early 2023, culminating at $356.45 by June 30, 2025. This rise suggests growing investor confidence or improved market conditions affecting the company.
- Earnings per Share (EPS)
- EPS data begins from March 31, 2021, showing continuous improvement across all reported periods. Starting at $3.54, EPS rises consistently, reaching $10.08 by June 30, 2025. The incremental growth each quarter highlights sustained profitability improvements and operational efficiency over time.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio fluctuates but remains within a relatively moderate to high range throughout the periods. Initially recorded at 37.46 in March 2021, it declines to a low point near 25.21 in September 2022, reflecting a phase where earnings growth might have outpaced share price appreciation. However, from late 2022 onward, the P/E ratio trends upwards periodically, reaching 35.35 by June 2025. These movements indicate variations in market valuation sentiment relative to earnings growth, with occasional investor optimism or caution impacting the valuation multiples.
In summary, the data depicts a positive pattern of increasing share price supported by strong and steadily growing earnings per share. The P/E ratio variations suggest fluctuating market perceptions, with periods reflecting both a cautious and optimistic investor stance. Overall, the financial indicators point to a robust financial performance and evolving market confidence during the reviewed timeframe.
Price to Operating Profit (P/OP)
Eaton Corp. plc, historical P/OP calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 389,300,000 | 391,300,000 | 392,000,000 | 395,200,000 | 398,100,000 | 399,800,000 | 399,500,000 | 399,300,000 | 399,000,000 | 398,600,000 | 398,000,000 | 397,700,000 | 398,300,000 | 399,000,000 | 398,800,000 | 398,600,000 | 398,600,000 | 398,500,000 | 398,100,000 | 398,600,000 | 400,100,000 | 400,000,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Operating income (in millions) | 1,256) | 1,201) | 1,224) | 1,211) | 1,193) | 1,004) | 1,078) | 1,060) | 946) | 801) | 875) | 790) | 711) | 643) | 659) | 1,216) | 640) | 565) | 604) | 589) | 162) | 690) | |||||||
| Operating profit per share2 | 12.57 | 12.34 | 11.82 | 11.35 | 10.89 | 10.23 | 9.72 | 9.22 | 8.55 | 7.97 | 7.59 | 7.05 | 8.11 | 7.91 | 7.72 | 7.59 | 6.02 | 4.82 | 5.14 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 356.45 | 299.71 | 290.38 | 331.58 | 297.88 | 318.26 | 289.00 | 207.91 | 219.00 | 173.25 | 172.78 | 151.64 | 146.39 | 146.58 | 149.31 | 171.63 | 162.81 | 144.67 | 132.68 | 111.25 | 96.89 | 83.50 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | 28.37 | 24.29 | 24.57 | 29.21 | 27.36 | 31.13 | 29.72 | 22.55 | 25.61 | 21.74 | 22.78 | 21.52 | 18.06 | 18.52 | 19.33 | 22.62 | 27.06 | 30.03 | 25.83 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Caterpillar Inc. | 17.41 | 12.44 | 12.92 | 15.15 | 11.63 | 11.78 | 12.40 | 10.25 | 13.99 | 12.67 | 16.25 | 14.25 | 13.65 | 17.16 | 15.87 | 16.57 | 18.76 | 26.25 | 24.23 | — | — | — | |||||||
| GE Aerospace | 28.71 | 21.98 | 26.78 | 25.88 | 26.34 | 28.91 | 27.11 | 22.82 | 26.69 | 20.39 | 19.88 | 15.70 | 13.51 | 17.08 | 17.46 | 20.90 | 23.40 | 35.58 | 25.64 | — | — | — | |||||||
| Honeywell International Inc. | 18.54 | 18.00 | 17.71 | 18.68 | 17.90 | 17.33 | 18.15 | 15.87 | 18.29 | 19.31 | 20.84 | 21.54 | 21.51 | 22.09 | 20.68 | 23.54 | 25.98 | 28.28 | 24.86 | — | — | — | |||||||
| Lockheed Martin Corp. | 16.10 | 14.72 | 15.35 | 15.88 | 14.04 | 12.99 | 12.49 | 12.87 | 13.18 | 15.02 | 14.06 | 13.30 | 11.97 | 13.61 | 11.56 | 10.22 | 11.57 | 12.37 | 10.63 | — | — | — | |||||||
| RTX Corp. | 24.00 | 22.67 | 26.47 | 26.63 | 52.96 | 35.67 | 34.37 | 35.06 | 20.81 | 24.68 | 26.48 | 24.82 | 26.15 | 29.36 | 28.68 | 35.30 | 46.33 | — | — | — | — | — | |||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Operating incomeQ2 2025
+ Operating incomeQ1 2025
+ Operating incomeQ4 2024
+ Operating incomeQ3 2024)
÷ No. shares of common stock outstanding
= (1,256,000,000 + 1,201,000,000 + 1,224,000,000 + 1,211,000,000)
÷ 389,300,000 = 12.57
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 356.45 ÷ 12.57 = 28.37
5 Click competitor name to see calculations.
The data reveals several notable trends and fluctuations in the key financial metrics over the observed periods. The share price exhibits a general upward trajectory from early 2020 through 2025, with some volatility and intermittent corrections. There is a steady increase in the share price from US$83.5 in March 2020 to a peak near US$356.45 by June 2025. Periodic declines occur, such as in late 2021 and parts of 2024, before recovering and progressing higher.
Operating profit per share (OP) data begins from March 2021 and shows consistent growth over the subsequent quarters. Starting at US$5.14, it increases almost steadily each quarter, reaching US$12.57 by June 2025. This indicates an improving profitability profile per share over time.
The price-to-operating profit ratio (P/OP) fluctuates more markedly within the period it is recorded, reflecting changing market valuations relative to operating profitability. Initially, the ratio is relatively high at 30.03 during the second quarter of 2021 but trends downward to levels around 18.06 to 22.78 during 2021 and early 2022, suggesting a period of more conservative valuation multiples. However, the ratio subsequently rises again, reaching peaks exceeding 31 in mid-2024, indicating periods when the share price growth outpaced operating profit gains, and market optimism was elevated.
In summary, the share price steadily appreciates with some volatility while operating profit per share improves consistently. The P/OP ratio displays variable valuation sentiment, alternating between more moderate and elevated levels, highlighting market adjustments in response to earnings changes and possibly external conditions. The combination of rising profitability and a generally higher share price signals improved company performance and investor confidence over the multi-year span.
- Share Price Trend
- Overall upward movement from US$83.5 to over US$350, with fluctuations reflecting interim volatility.
- Operating Profit per Share Trend
- Continuous growth from US$5.14 in March 2021 to US$12.57 in June 2025, indicating strong profitability gains.
- Price-to-Operating Profit Ratio
- Variable, with initial high multiples declining then rising again above 30, showing shifting market valuation levels relative to profits.
Price to Sales (P/S)
Eaton Corp. plc, historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 389,300,000 | 391,300,000 | 392,000,000 | 395,200,000 | 398,100,000 | 399,800,000 | 399,500,000 | 399,300,000 | 399,000,000 | 398,600,000 | 398,000,000 | 397,700,000 | 398,300,000 | 399,000,000 | 398,800,000 | 398,600,000 | 398,600,000 | 398,500,000 | 398,100,000 | 398,600,000 | 400,100,000 | 400,000,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net sales (in millions) | 7,028) | 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) | |||||||
| Sales per share2 | 66.76 | 64.69 | 63.46 | 62.26 | 60.64 | 59.17 | 58.06 | 56.63 | 55.25 | 53.67 | 52.14 | 50.71 | 49.65 | 49.57 | 49.22 | 48.96 | 47.97 | 44.57 | 44.86 | 0.00 | 0.00 | 0.00 | |||||||
| Share price1, 3 | 356.45 | 299.71 | 290.38 | 331.58 | 297.88 | 318.26 | 289.00 | 207.91 | 219.00 | 173.25 | 172.78 | 151.64 | 146.39 | 146.58 | 149.31 | 171.63 | 162.81 | 144.67 | 132.68 | 111.25 | 96.89 | 83.50 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | 5.34 | 4.63 | 4.58 | 5.33 | 4.91 | 5.38 | 4.98 | 3.67 | 3.96 | 3.23 | 3.31 | 2.99 | 2.95 | 2.96 | 3.03 | 3.51 | 3.39 | 3.25 | 2.96 | — | — | — | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Boeing Co. | 2.27 | 1.87 | 1.98 | 1.32 | 1.60 | 1.32 | 1.66 | 1.42 | 1.91 | 1.73 | 1.90 | 1.30 | 1.53 | 1.50 | 1.87 | 1.93 | 2.20 | 2.44 | 1.96 | — | — | — | |||||||
| Caterpillar Inc. | 3.36 | 2.52 | 2.75 | 3.23 | 2.51 | 2.54 | 2.52 | 1.86 | 2.37 | 1.89 | 2.27 | 2.08 | 1.88 | 2.38 | 2.26 | 2.41 | 2.59 | 3.23 | 2.83 | — | — | — | |||||||
| GE Aerospace | 7.34 | 5.60 | 6.24 | 4.37 | 3.63 | 3.02 | 2.30 | 1.84 | 1.85 | 1.51 | 1.20 | 1.11 | 1.10 | 1.25 | 1.50 | 1.64 | 1.60 | 1.68 | 1.41 | — | — | — | |||||||
| Honeywell International Inc. | 3.56 | 3.47 | 3.42 | 3.59 | 3.52 | 3.41 | 3.51 | 3.19 | 3.61 | 3.68 | 3.78 | 3.78 | 3.72 | 3.84 | 3.73 | 4.32 | 4.66 | 4.78 | 4.34 | — | — | — | |||||||
| Lockheed Martin Corp. | 1.33 | 1.51 | 1.52 | 1.92 | 1.68 | 1.59 | 1.57 | 1.62 | 1.69 | 1.92 | 1.78 | 1.75 | 1.61 | 1.84 | 1.57 | 1.38 | 1.53 | 1.63 | 1.40 | — | — | — | |||||||
| RTX Corp. | 2.39 | 1.86 | 2.14 | 2.11 | 2.08 | 1.90 | 1.78 | 1.68 | 1.80 | 2.15 | 2.14 | 1.97 | 2.04 | 2.27 | 2.21 | 2.09 | 2.14 | 2.07 | 1.95 | — | — | — | |||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (Net salesQ2 2025
+ Net salesQ1 2025
+ Net salesQ4 2024
+ Net salesQ3 2024)
÷ No. shares of common stock outstanding
= (7,028,000,000 + 6,377,000,000 + 6,240,000,000 + 6,345,000,000)
÷ 389,300,000 = 66.76
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= 356.45 ÷ 66.76 = 5.34
5 Click competitor name to see calculations.
The financial data reveals notable developments in the share price, sales per share, and price-to-sales (P/S) ratio of the company over the reported periods.
- Share Price
- The share price exhibited a generally upward trajectory from March 2020 to June 2025, increasing from $83.50 to $356.45. The price experienced steady growth through 2020 and the majority of 2021, with a peak around September 2021 at approximately $171.63. A temporary decline occurred towards December 2021, followed by stabilization in the $146–$172 range through 2022. From early 2023 onward, a significant accelerating rise is evident, culminating in the highest levels recorded in late 2024 and mid-2025. Minor fluctuations occurred in these final periods but overall price appreciation was substantial.
- Sales per Share
- Sales per share data is available starting March 2021, indicating a consistent upward trend from $44.86 to $66.76 by June 2025. The increase appears steady and incremental, demonstrating ongoing growth in revenue generated on a per-share basis throughout the reporting periods. No downward movement or volatility is observed in this metric, which suggests stable demand or operational performance.
- Price-to-Sales (P/S) Ratio
- The P/S ratio shows more variability relative to the other metrics. Initial values near 3.0 to 3.5 in 2021 suggest a relatively stable valuation relative to sales. A trough near 2.95 is seen in mid to late 2022, indicative of perhaps a valuation correction or higher sales growth relative to share price. A marked acceleration in the P/S ratio is observable starting in late 2022 through 2024, reaching peaks above 5.0 in late 2023 and 2024. This significant increase indicates that the market valuation of the company grew disproportionately faster than its sales per share, suggesting investor optimism or expectations of future growth beyond the current sales trajectory. Some minor declines in the P/S ratio occur in late 2024 and mid-2025, but overall it remains elevated.
In summary, the data portrays a company with strong and steadily increasing sales per share, accompanied by a share price that exhibited robust growth with some periods of volatility but ultimately reaching substantial highs. The rising P/S ratio towards the later periods underscores increasing market confidence and a premium valuation placed on the company relative to its sales achievements, potentially reflecting favorable future prospects as perceived by investors.
Price to Book Value (P/BV)
Eaton Corp. plc, historical P/BV calculation (quarterly data)
| 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 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 389,300,000 | 391,300,000 | 392,000,000 | 395,200,000 | 398,100,000 | 399,800,000 | 399,500,000 | 399,300,000 | 399,000,000 | 398,600,000 | 398,000,000 | 397,700,000 | 398,300,000 | 399,000,000 | 398,800,000 | 398,600,000 | 398,600,000 | 398,500,000 | 398,100,000 | 398,600,000 | 400,100,000 | 400,000,000 | |||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Total Eaton shareholders’ equity (in millions) | 18,606) | 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) | |||||||
| Book value per share (BVPS)2 | 47.79 | 47.29 | 47.16 | 48.37 | 48.28 | 48.25 | 47.65 | 46.04 | 44.99 | 43.78 | 42.81 | 40.40 | 41.12 | 41.65 | 41.16 | 40.07 | 38.66 | 37.63 | 37.50 | 36.32 | 35.46 | 35.61 | |||||||
| Share price1, 3 | 356.45 | 299.71 | 290.38 | 331.58 | 297.88 | 318.26 | 289.00 | 207.91 | 219.00 | 173.25 | 172.78 | 151.64 | 146.39 | 146.58 | 149.31 | 171.63 | 162.81 | 144.67 | 132.68 | 111.25 | 96.89 | 83.50 | |||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | 7.46 | 6.34 | 6.16 | 6.85 | 6.17 | 6.60 | 6.07 | 4.52 | 4.87 | 3.96 | 4.04 | 3.75 | 3.56 | 3.52 | 3.63 | 4.28 | 4.21 | 3.84 | 3.54 | 3.06 | 2.73 | 2.34 | |||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Caterpillar Inc. | 10.74 | 8.35 | 8.66 | 10.38 | 9.22 | 9.18 | 8.25 | 5.76 | 8.05 | 6.13 | 8.09 | 7.16 | 6.14 | 6.96 | 6.62 | 6.61 | 6.65 | 7.86 | 7.20 | 5.64 | 5.32 | 4.11 | |||||||
| GE Aerospace | 14.57 | 10.48 | 11.33 | 10.13 | 10.03 | 5.96 | 5.43 | 4.31 | 4.09 | 3.39 | 2.43 | 2.53 | 2.26 | 2.27 | 2.64 | 3.15 | 3.43 | 3.53 | 2.89 | 1.95 | 1.71 | 1.63 | |||||||
| Honeywell International Inc. | 8.86 | 7.78 | 7.08 | 7.81 | 7.76 | 7.64 | 8.11 | 6.74 | 7.54 | 7.81 | 8.02 | 7.46 | 7.31 | 7.17 | 6.91 | 8.39 | 8.83 | 8.67 | 8.07 | 6.40 | 5.78 | 5.46 | |||||||
| Lockheed Martin Corp. | 17.98 | 16.20 | 17.00 | 19.00 | 19.35 | 16.60 | 15.54 | 11.80 | 12.31 | 13.16 | 12.67 | 9.46 | 9.05 | 12.08 | 9.62 | 9.50 | 15.63 | 17.05 | 15.27 | 20.84 | 27.96 | 30.96 | |||||||
| RTX Corp. | 3.20 | 2.47 | 2.88 | 2.73 | 2.56 | 2.23 | 2.05 | 1.62 | 1.75 | 2.03 | 1.97 | 1.85 | 1.89 | 2.04 | 1.95 | 1.87 | 1.87 | 1.75 | 1.53 | 1.26 | 1.35 | 1.25 | |||||||
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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Total Eaton shareholders’ equity ÷ No. shares of common stock outstanding
= 18,606,000,000 ÷ 389,300,000 = 47.79
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= 356.45 ÷ 47.79 = 7.46
5 Click competitor name to see calculations.
- Share price
- The share price exhibits an overall strong upward trend throughout the observed periods, increasing from $83.5 at the end of Q1 2020 to $356.45 by Q2 2025. Notable growth phases include a steady rise between Q1 2020 and Q4 2021, with the price reaching $149.31 by the end of 2021. Following a period of relative stability around $146-$172 in 2022, there is a significant acceleration in share price growth during 2023 and into 2024, peaking at $331.58 by Q4 2024 and culminating at $356.45 in Q2 2025. Some short-term volatility is observed, particularly the dip from $171.63 in Q3 2021 to $149.31 in Q4 2021, and fluctuations within 2023-2025, but the general trajectory remains upwards.
- Book value per share (BVPS)
- Book value per share shows a consistent, gradual increase over time, rising from $35.61 in Q1 2020 to $47.79 by Q2 2025. This steady increase suggests ongoing accumulation of net assets and retained earnings. The growth rate, however, is moderate compared to the share price growth, with some minor fluctuations such as a temporary decline between Q1 and Q2 2022 (from $41.65 to $41.12) and relative stabilization in 2024 near $48.3 before a slight dip in early 2025. Overall, BVPS development reflects a stable increase in company value per share on a book basis.
- Price-to-Book Value (P/BV) ratio
- The P/BV ratio reveals increasing market valuation relative to book value per share. Starting at 2.34 in Q1 2020, the ratio steadily climbs, with intermittent dips such as the fall from 4.28 in Q3 2021 to 3.63 in Q4 2021. From 2022 onwards, the ratio rises sharply, reaching a peak of 7.46 in Q2 2025. This trend indicates that the market price of the shares has been increasing at a faster rate than their book value, suggesting strong investor optimism or expectations of future growth beyond the company's net asset accumulation. The sharp increases during 2023 to 2025 particularly emphasize elevated market confidence or re-rating of the stock.