Eaton Corp. PLC (ETN) intrinsic value & 10-year financials
Eaton Corp. PLC (ETN) has a Graham intrinsic value of $220.88 per share. At $391.25 on Oct 17, 2026, the stock trades 77% above that value. Over the last 10 fiscal years revenue grew 3.7% a year to $27.4B, with an average return on invested capital of 11.7%.
- Graham intrinsic value
- $220.88
- Share price (Oct 17, 2026)
- $391.25
- Price vs Graham value
- 77% above
- Market cap
- $153.1B
- Revenue (FY2025)
- $27.4B
- Revenue growth (10-yr CAGR)
- 3.7%
- ROIC (10-yr avg)
- 11.7%
- Free cash flow (FY2025)
- $3.6B
ETN 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $27.4B | $4.1B | $10.45 | $3.6B | — | 14.7% |
| FY2024 | $24.9B | $3.8B | $9.50 | $3.5B | — | 13.8% |
| FY2023 | $23.2B | $3.2B | $8.02 | $2.9B | — | 12.2% |
| FY2022 | $20.8B | $2.5B | $6.14 | $1.9B | — | 9.9% |
| FY2021 | $19.6B | $2.1B | $5.34 | $1.6B | — | 9.1% |
| FY2020 | $17.9B | $1.4B | $3.49 | $2.6B | — | 6.1% |
| FY2019 | $21.4B | $2.2B | $5.25 | $2.9B | 17.2% | 13.4% |
| FY2018 | $21.6B | $2.1B | $4.91 | $2.1B | 16.8% | 13.6% |
| FY2017 | $20.4B | $3.0B | $6.68 | $2.1B | 15.8% | 12.1% |
| FY2016 | $19.7B | $1.9B | $4.21 | $2.1B | 15.0% | 11.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Eaton Corporation has demonstrated mature, steady growth, with revenue compounding at 3.7% annually over the past decade.
Eaton Corporation returns on capital have been average, hovering around 11.7% ROIC over the decade.
Over the decade, Eaton Corporation shows that management has aggressively returned capital to shareholders by retiring 14.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Eaton Corporation is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $220.88 per share.