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).
Paying user area
Try for free
Eaton Corp. plc pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Price to Sales (P/S) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Eaton Corp. plc for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
Eaton Corp. plc, historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
A consistent upward trajectory in valuation multiples is evident across all measured metrics from March 2022 through June 2026. This broad expansion suggests a significant re-rating of the equity, reflecting increased investor confidence and a higher premium attributed to future growth expectations over the analyzed period.
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibits a strong long-term increase, rising from 26.37 in March 2022 to a peak of 42.13 by June 2026. While the ratio remained relatively stable throughout 2022, a marked acceleration occurred starting in mid-2023. Despite some volatility in 2024, the trend culminated in a steep climb during 2025 and 2026, indicating that investors are willing to pay substantially more per unit of earnings than in previous years.
- Price to Operating Profit (P/OP) Ratio
- A similar expansion is observed in the P/OP ratio, which grew from 18.52 in March 2022 to 30.34 by June 2026. The most significant jump occurred between September 2023 (22.55) and December 2023 (29.72). The ratio largely stabilized above the 27.00 level from 2024 onward, suggesting a permanent shift in the valuation of the company's core operational profitability.
- Price to Sales (P/S) Ratio
- The P/S ratio nearly doubled over the period, moving from 2.96 in March 2022 to 5.37 in June 2026. There was a notable surge between March 2023 (3.23) and December 2023 (4.98). Following this spike, the ratio entered a period of consolidation, generally fluctuating between 4.50 and 5.60, which indicates a heightened market valuation of the revenue stream.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio demonstrates the most aggressive relative growth, increasing from 3.52 in March 2022 to 7.96 by June 2026. The expansion was characterized by a steady climb through 2022 and 2023, followed by a series of higher peaks throughout 2024 and 2025. This trend reflects a substantial increase in the market's valuation of the company's assets and intangible value relative to its accounting book value.
Overall, the synchronization of these rising ratios points to a comprehensive valuation expansion. The most intense period of re-rating occurred throughout 2023 and early 2024, after which the multiples remained elevated and continued to trend upward, particularly the P/E and P/BV ratios.
Price to Earnings (P/E)
Eaton Corp. plc, historical P/E calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net income attributable to Eaton ordinary shareholders (in millions) | ||||||||||||||||||||||||
| Earnings per share (EPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/E ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/E Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
EPS
= (Net income attributable to Eaton ordinary shareholdersQ2 2026
+ Net income attributable to Eaton ordinary shareholdersQ1 2026
+ Net income attributable to Eaton ordinary shareholdersQ4 2025
+ Net income attributable to Eaton ordinary shareholdersQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2026 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
The financial data reveals a sustained period of appreciation in both share price and earnings per share (EPS), accompanied by a significant expansion in the price-to-earnings (P/E) valuation multiple over the analyzed period.
- Share Price and Earnings Growth
- A consistent upward trajectory is observed in the share price, which rose from 146.58 US$ in March 2022 to 415.20 US$ by June 2026. This appreciation was supported by strong fundamental growth, as EPS increased from 5.56 US$ to a peak of 10.54 US$ in December 2025, representing nearly a 90% increase in earnings capacity over the duration.
- P/E Ratio Evolution
- The P/E ratio transitioned through three distinct phases. An initial period of stability was noted between March 2022 and March 2023, with the ratio fluctuating narrowly between 25.21 and 27.93. This was followed by a phase of volatility and expansion from June 2023 to March 2024, where the ratio reached a high of 37.41. After a corrective dip to 29.79 US$ by December 2024, the ratio entered a final stage of aggressive expansion, ending at a period high of 42.13 in June 2026.
- Valuation Divergence
- A significant divergence between earnings and valuation is evident in the final two quarters of the sequence. Between December 2025 and June 2026, EPS declined from 10.54 US$ to 9.86 US$. Despite this contraction in earnings, the share price continued to climb from 374.59 US$ to 415.20 US$. This resulted in a sharp increase in the P/E ratio from 35.55 to 42.13, suggesting that the market shifted toward a more aggressive valuation multiple regardless of the short-term earnings dip.
Price to Operating Profit (P/OP)
Eaton Corp. plc, historical P/OP calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Operating income (in millions) | ||||||||||||||||||||||||
| Operating profit per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/OP ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Operating profit per share
= (Operating incomeQ2 2026
+ Operating incomeQ1 2026
+ Operating incomeQ4 2025
+ Operating incomeQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2026 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analysis of valuation metrics from March 2022 through June 2026 reveals a significant expansion in both market valuation and operational profitability. While both share price and operating profit per share exhibited strong growth over the period, the pace of share price appreciation generally exceeded the growth in operating profits, resulting in an overall increase in the Price to Operating Profit (P/OP) multiple.
- Share Price Performance
- The share price experienced a substantial upward trajectory, rising from 146.58 US$ in March 2022 to 415.20 US$ by June 2026. Notable acceleration is observed between December 2023 and March 2024, and again throughout 2025, indicating strong market demand and increasing investor confidence.
- Operating Profitability
- Operating profit per share demonstrated consistent and stable growth. Starting at 7.91 US$ in March 2022, the figure climbed to 13.69 US$ by June 2026. This steady progression suggests a robust and sustainable improvement in core operational efficiency and earnings power.
- P/OP Ratio Dynamics
- The P/OP ratio expanded from 18.52 in early 2022 to a peak of 31.13 in March 2024, reflecting a significant rerating of the asset. A period of valuation compression occurred during 2024, where the ratio declined to 24.29 by December 31, 2024, despite the continued rise in operating profit. Following this correction, the ratio returned to an elevated plateau, fluctuating between 27.89 and 30.80 throughout 2025 and the first half of 2026.
In summary, the divergence between the linear growth of operating profits and the more volatile growth of the share price has led to a higher valuation multiple. The transition from a P/OP ratio of approximately 18x to over 30x indicates that the market is now attributing a higher premium to each dollar of operating profit than was the case in 2022.
Price to Sales (P/S)
Eaton Corp. plc, historical P/S calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | 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 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Net sales (in millions) | ||||||||||||||||||||||||
| Sales per share2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/S ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/S Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
Sales per share
= (Net salesQ2 2026
+ Net salesQ1 2026
+ Net salesQ4 2025
+ Net salesQ3 2025)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2026 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
A comprehensive analysis of the valuation metrics reveals a significant expansion in the Price-to-Sales (P/S) ratio over the period from March 2022 to June 2026. This trend indicates a substantial increase in the market premium attributed to the company's revenue generation capabilities.
- Revenue and Price Trajectories
- Sales per share exhibited consistent and linear growth, rising from 49.57 US$ in March 2022 to 77.30 US$ by June 2026. Simultaneously, the share price experienced a more aggressive ascent, climbing from 146.58 US$ to 415.20 US$. The divergence in growth rates between the share price and sales per share is the primary driver behind the expanding P/S ratio.
- P/S Ratio Evolution
- The P/S ratio remained relatively stable between 2.95 and 2.99 during the first three quarters of 2022. A shift occurred in December 2022, when the ratio climbed to 3.31, marking the beginning of a broader upward trend. A period of rapid valuation expansion was observed between December 2023 and March 2024, with the ratio jumping from 4.98 to 5.38.
- Volatility and Peak Valuation
- Following the initial surge, the P/S ratio displayed moderate volatility. A notable contraction occurred in December 2024, where the ratio dipped to 4.58. However, this was followed by a recovery and a subsequent peak of 5.59 in March 2026. The period concluded with a slight normalization to 5.37 in June 2026.
- Comparative Valuation Analysis
- The overall transition from a P/S ratio of approximately 3.0x in early 2022 to over 5.3x by mid-2026 suggests a fundamental change in market perception. The market's willingness to pay a higher multiple for the same unit of sales indicates increased confidence in future growth prospects, margin expansion, or an improved risk profile.
Price to Book Value (P/BV)
Eaton Corp. plc, historical P/BV calculation (quarterly data)
| Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||||||||||||||||||||
| Selected Financial Data (US$) | ||||||||||||||||||||||||
| Total Eaton shareholders’ equity (in millions) | ||||||||||||||||||||||||
| Book value per share (BVPS)2 | ||||||||||||||||||||||||
| Share price1, 3 | ||||||||||||||||||||||||
| Valuation Ratio | ||||||||||||||||||||||||
| P/BV ratio4 | ||||||||||||||||||||||||
| Benchmarks | ||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | ||||||||||||||||||||||||
| Boeing Co. | ||||||||||||||||||||||||
| Caterpillar Inc. | ||||||||||||||||||||||||
| GE Aerospace | ||||||||||||||||||||||||
| Honeywell International Inc. | ||||||||||||||||||||||||
| Lockheed Martin Corp. | ||||||||||||||||||||||||
| RTX Corp. | ||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2026 Calculation
BVPS = Total Eaton shareholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Eaton Corp. plc Quarterly or Annual Report.
4 Q2 2026 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The valuation of the common stock exhibits a significant expansion over the analyzed period, characterized by a substantial increase in the Price to Book Value (P/BV) ratio. This trend is driven by a rapid appreciation in share price that far outpaced the growth of the book value per share, indicating an increase in the market premium attributed to the company's assets.
- Share Price Performance
- A consistent upward trajectory is observed, with the share price rising from 146.58 US$ in March 2022 to 415.20 US$ by June 2026. Significant acceleration is noted starting in mid-2023, with a sharp increase from 219.00 US$ in June 2023 to 289.00 US$ by December 2023, and continuing through 2024 and 2025.
- Book Value per Share (BVPS) Growth
- The book value per share demonstrates a steady, though modest, increase. Starting at 41.65 US$ in March 2022, the BVPS reached 52.15 US$ by June 2026. While a slight contraction occurred in December 2024, where the value dipped to 47.16 US$, the overall trend remained positive, reflecting a gradual growth in the underlying net asset value per share.
- Price to Book Value (P/BV) Trend
- The P/BV ratio more than doubled over the period, moving from 3.52 in March 2022 to 7.96 in June 2026. The ratio remained relatively stable within the 3.52 to 4.04 range throughout 2022, followed by a period of rapid expansion in 2023, closing the year at 6.07. The valuation peaked at 8.09 in March 2026, confirming a sustained trend of valuation expansion relative to the company's accounting book value.