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Eaton Corporation plc

ETN

Industrials · 425.52 +4.0% today

Partial group confirmationMarket checked 11 Sept, 15:55 GMT-4

Market read

Eaton Corporation plc's move is being confirmed by its market group.

ETN accounts for 5.3% of the group's measured movement across 5.1 effective names. all 10 measured members are rising in raw terms, but 6 of 10 SPY-adjusted paths align to the upside. Capital-flow agreement is 19%, so confirmation is not yet clean. No verified headline preceded the measured group move.

MOVE ANATOMY

Is this move genuinely shared?

SPY-adjusted 5m paths
Role in the moveAligned contributor#7 of 10 by movement share
Group movement share5.3%Absolute path energy—not portfolio weight
Relative path+0.29%aligned
Effective breadth5.1 / 10balanced
Relative alignment6/10upside path · 4 counter-moving
Capital-flow agreement19%not yet clean
SEQUENCE READ

No material onset for ETN could be timestamped inside the aligned 5-minute window.

EVIDENCE COVERAGE

5 of 10 members in Industrial Infrastructure are active. 0 of 8 disclosed connections are confirming.

What would change this read
  • At least 7 of 10 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as ENS begins moving with the group.

Invalidation: The live read weakens if participation falls to 3 of 10 members or fewer.

Watch this read

Research brief

The story so far

Industrials · Specialty Industrial Machinery

ETN accounts for 5.3% of the group's measured movement across 5.1 effective names. all 10 measured members are rising in raw terms, but 6 of 10 SPY-adjusted paths align to the upside. Capital-flow agreement is 19%, so confirmation is not yet clean. No verified headline preceded the measured group move.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • At least 7 of 10 durable members become active together.
  • Capital-flow agreement rises above 55%.
  • A filing-linked outsider such as ENS begins moving with the group.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations602
Usable filing statements121
Verified relationships11
Evidence supporting the case
  • Latest annual revenue changed +10.3% year over year.
Evidence challenging the case
  • Data center and AI demand has repeated adverse evidence across 5 filings.
  • Demand and volume has repeated adverse evidence across 5 filings.
  • Credit and interest rates has repeated adverse evidence across 3 filings.
  • Input and raw-material costs has repeated adverse evidence across 3 filings.
Questions before a position
  • P/E is 97% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 102% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

425.52
6m+22.1%12m+17.5%24m+49.3%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$19.6B+9.9%$5.34-0.6%
2022-12-31$20.8B+5.7%$6.14-0.2%
2023-12-31$23.2B+11.8%$8.02+0.1%
2024-12-31$24.9B+7.3%$9.50-0.4%
2025-12-31$27.4B+10.3%$10.45-2.1%

What management says matters

Persistent and emerging business drivers

Data center and AI demandnegative · 5 filings
The increase in organic sales in the first six months of 2026 was due to strength in data center, machine OEM, and residential end-markets, partially offset by weakness in industrial end-markets.
10-Q · Jul 31, 2026
Demand and volumenegative · 5 filings
2024 Backlog $ 5,164 $ 4,025 28 % 16 % Organic change in backlog 18 % 14 % Organic change in customer orders 17 % 10 % Book-to-bill 1.2 1.1 The increase in organic sales in the second quarter of 2026 was due to strength in commercial OEM and commercial afterm…
10-Q · Jul 31, 2026
Labor availability and costsmixed · 5 filings
Material factors affecting this increase were a 260 basis point increase from operating efficiencies, partially offset by a 220 basis point decline from higher commodity and wage inflation.
10-Q · Jul 31, 2026
Macroeconomic conditionsmixed · 5 filings
Material factors affecting this increase were a 260 basis point increase from operating efficiencies, partially offset by a 220 basis point decline from higher commodity and wage inflation.
10-Q · Jul 31, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 6.1× · EV/sales 6.4×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

425.52+4.0% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for ETN. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for ETN. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind ETN

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

RYANRyan Specialty Holdings, Inc.partnerFeb 26, 2026

ACQUISITIONS AND DIVESTITURE OF BUSINESSES Acquisition of a 49 % stake in Jiangsu Ryan Electrical Co.

NATNordic American Tankers LimitedinvesteeFeb 26, 2026

Acquisition of a 49 % stake in NordicEPOD AS On May 31, 2024, Eaton acquired a 49 percent stake in NordicEPOD AS, which designs and assembles standardized power modules for data centers in the Nordic region.

Depended on by

ECLEcolab Inc.supplierFeb 23, 2026

Saluja was employed by Eaton Corporation plc, a power management company, as Senior Vice President, Corporate Development and Planning from 2013 until 2024.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 12 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

ETN is currently a Early Follower in the organic co-movement group Industrial Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.