{"schemaVersion":1,"research":true,"symbol":"etn","name":"Eaton Corp plc","topic":"moat","path":"/stock/etn/moat","status":"published","version":4,"updatedAt":"2026-10-18T12:40:21.482Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"uncertain","summary":"Eaton demonstrates specialized engineering, firm customer demand and historical positive net price realization, but the supplied passages do not establish durable competitive barriers. Intellectual property and aftermarket demand suggest potential advantages; their protection against substitution remains unproven. Pricing evidence is positive for 2023 but insufficient to establish current pricing power. Recent margin resilience varies substantially by segment. This is insufficient evidence of a moat, rather than demonstrated competitive weakness.","advantages":[{"mechanism":"intangible_assets","claim":"Eaton has an existing intellectual-property portfolio and specialized aerospace engineering capabilities. These are plausible sources of differentiation, but the disclosures do not demonstrate a durable economic advantage over competitors.","durability":"Unestablished. Ongoing intellectual-property development and commercial aftermarket demand support continued relevance, but patent coverage, exclusivity, substitution barriers and customer-level persistence are undisclosed. Acquisition accounting useful lives do not establish economic protection.","risks":"Technology substitution, patent expiration, price competition and delivery failures could weaken differentiation. Actual inflation pressure and uneven segment margins show that specialized offerings do not fully insulate earnings.","invalidation":"The candidate advantage would be undermined by documented customer substitution, lost platform positions, sustained aftermarket contraction or price concessions required to preserve business. Evidence of protected designs and sustained customer dependence through competitive rebids would support upgrading the assessment.","competitors":[],"evidenceIds":["e1","e2","e3","e4"],"counterEvidenceIds":["e5","e6","e7","e8"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Business — intellectual property","excerpt":"Eaton considers its intellectual property, including without limitation patents, trade names, domain names, trademarks, confidential information, and trade secrets to be of significant value to its business as a whole."},{"id":"e2","sourceId":"filing-1","location":"Business — intellectual-property development","excerpt":"Eaton develops and acquires new intellectual property on an ongoing basis and considers all of its intellectual property to be valuable."},{"id":"e3","sourceId":"filing-1","location":"Business — Aerospace methods of competition","excerpt":"Principal methods of competition in this segment are total cost of ownership, product and system performance, quality, design engineering capabilities, and timely delivery."},{"id":"e4","sourceId":"filing-2","location":"MD&A — Aerospace first-half 2026 organic sales","excerpt":"The increase in organic sales in the first six months of 2026 was due to strength in commercial OEM, commercial aftermarket, and military aftermarket."},{"id":"e5","sourceId":"filing-1","location":"Business — intellectual-property expiration","excerpt":"The Company's products may be manufactured, marketed and sold using a portfolio of patents, trademarks, licenses, and other forms of intellectual property, some of which expire in the future."},{"id":"e6","sourceId":"filing-1","location":"Business — Electrical methods of competition","excerpt":"Principal methods of competition in these segments are performance of products and systems, technology, customer service and support, and price."},{"id":"e7","sourceId":"filing-2","location":"MD&A — Electrical Americas sales, profit and margins","excerpt":"•Backlog: Includes orders to which customers are firmly committed •Organic change in backlog: Percentage change in backlog, excluding (1) the impact of foreign currency, (2) divestitures, and (3) firm orders in place prior to closing of business acquisitions •Organic change in customer orders: Percentage change in firm customer orders on a trailing twelve month basis, excluding (1) the impact of foreign currency, (2) divestitures, and (3) firm orders in place prior to closing of business acquisitions •Book-to-bill: Average of the ratio of firm customer orders to Net sales for the last four quarters Electrical Americas Three months ended June 30 Increase (decrease) Six months ended June 30 Increase (decrease) ($ in millions) 2026 2025 2026 2025 Net sales $ 3,951 $ 3,350 18 % $ 7,551 $ 6,360 19 % Operating profit $ 1,088 $ 987 10 % $ 2,010 $ 1,891 6 % Operating margin 27.5 % 29.5 % 26.6 % 29.7 % Changes in Net sales: Organic growth 18 % 16 % Acquisitions of businesses — % 2 % Foreign currency — % 1 % Total increase in Net sales 18 % 19 % Change from June 30 Performance metrics: June 30, 2026 June 30, 2025 2026 vs."},{"id":"e8","sourceId":"filing-2","location":"MD&A — Aerospace first-half 2026 margin bridge","excerpt":"Material factors affecting this increase were a 170 basis point increase from higher sales, a 130 basis point increase from the sale of a facility in the first quarter of 2026, a 130 basis point increase from favorable mix, and a 30 basis point increase from the acquisition of Ultra PCS, partially offset by a 310 basis point decline from higher commodity and wage inflation."},{"id":"e9","sourceId":"filing-4","location":"MD&A — 2023 consolidated gross margin and net price realization","excerpt":"2023: Gross profit margin increased from 33.2% in 2022 to 36.4% in 2023 primarily due to higher sales volumes and net price realization, partially offset by higher costs to support growth initiatives in the Electrical Americas and Aerospace business segments, unfavorable product mix in the Electrical Global, Aerospace, and eMobility business segments, and operating inefficiencies in the Electrical Global and Vehicle business segments."},{"id":"e10","sourceId":"filing-5","location":"MD&A — 2023 organic sales and net price realization","excerpt":"2023: Organic sales increased 12% in 2023 due to higher sales volumes including net price realization in most of our business segments."},{"id":"e11","sourceId":"filing-2","location":"Revenue disclosures — firm backlog definition","excerpt":"In measuring backlog of unsatisfied or partially satisfied obligations, only the amount of orders to which customers are firmly committed are included."},{"id":"e12","sourceId":"filing-2","location":"Revenue disclosures — June 30, 2026 backlog","excerpt":"Using this criterion, total backlog at June 30, 2026 was approximately $24.1 billion."},{"id":"e13","sourceId":"filing-2","location":"Revenue disclosures — nonfirm open orders","excerpt":"These open orders are not considered firm as they have been historically subject to releases by customers."},{"id":"e14","sourceId":"filing-2","location":"MD&A — Aerospace first-half operating margin","excerpt":"The operating margin increased from 22.6% in the first six months of 2025 to 24.7% in the first six months of 2026."},{"id":"e15","sourceId":"filing-2","location":"Condensed consolidated statements of cash flows — first half 2026","excerpt":"4 Table of Contents EATON CORPORATION plc CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended June 30 (In millions) 2026 2025 Operating activities Net income $ 1,690 $ 1,947 Adjustments to reconcile to net cash provided by operating activities Depreciation and amortization 671 493 Deferred income taxes 135 123 Pension and other postretirement benefits expense 23 20 Contributions to pension plans (48) (58) Contributions to other postretirement benefits plans (6) (9) Changes in working capital (833) (1,397) Other - net 2 37 Net cash provided by operating activities 1,634 1,156 Investing activities Capital expenditures for property, plant and equipment (446) (349) Cash paid for acquisition of businesses, net of cash acquired (11,079) (1,450) Proceeds from sales of property, plant and equipment 39 53 Investments in nonmarketable securities (85) — Sales (purchases) of short-term investments - net (43) 1,343 Proceeds from (payments for) settlement of currency exchange contracts not designated as hedges - net 1 (21) Other - net (48) (65) Net cash used in investing activities (11,661) (490) Financing activities Proceeds from borrowings 9,871 1,058 Payments on borrowings (1,143) (713) Short-term debt - net 2,088 1,111 Debt issuance costs (64) (8) Cash dividends paid (858) (818) Exercise of employee stock options 35 29 Repurchase of shares — (1,307) Employee taxes paid from shares withheld (53) (46) Other - net (2) (3) Net cash provided by (used in) financing activities 9,874 (697) Effect of currency on cash 13 (126) Total decrease in cash (139) (157) Cash at the beginning of the period 622 555 Cash at the end of the period $ 483 $ 398 The accompanying notes are an integral part of these condensed consolidated financial statements."},{"id":"e16","sourceId":"filing-2","location":"Consolidated balance sheets — debt and shares outstanding","excerpt":"3 Table of Contents EATON CORPORATION plc CONSOLIDATED BALANCE SHEETS (In millions) June 30, 2026 December 31, 2025 Assets Current assets Cash $ 483 $ 622 Short-term investments 212 181 Accounts receivable - net 6,673 5,387 Inventory 5,417 4,721 Prepaid expenses and other current assets 1,987 1,444 Total current assets 14,772 12,355 Property, plant and equipment Land and buildings 2,526 2,361 Machinery and equipment 8,011 7,667 Gross property, plant and equipment 10,537 10,028 Accumulated depreciation (5,834) (5,712) Net property, plant and equipment 4,702 4,316 Other noncurrent assets Goodwill 20,229 15,769 Other intangible assets 12,611 5,054 Operating lease assets 855 768 Deferred income taxes 592 707 Other assets 2,419 2,281 Total assets $ 56,181 $ 41,251 Liabilities and shareholders’ equity Current liabilities Short-term debt $ 2,091 $ 1 Current portion of long-term debt 11 1,136 Accounts payable 5,421 4,168 Accrued compensation 630 644 Other current liabilities 3,755 3,421 Total current liabilities 11,909 9,370 Noncurrent liabilities Long-term debt 18,509 8,758 Pension liabilities 601 702 Other postretirement benefits liabilities 158 161 Operating lease liabilities 715 637 Deferred income taxes 2,139 265 Other noncurrent liabilities 1,850 1,889 Total noncurrent liabilities 23,972 12,412 Shareholders’ equity Ordinary shares (388.4 million outstanding in 2026 and 387.9 million in 2025) 4 4 Capital in excess of par value 12,867 12,837 Retained earnings 11,530 10,702 Accumulated other comprehensive loss (4,146) (4,118) Shares held in trust — — Total Eaton shareholders’ equity 20,254 19,425 Noncontrolling interests 45 44 Total equity 20,299 19,469 Total liabilities and equity $ 56,181 $ 41,251 The accompanying notes are an integral part of these condensed consolidated financial statements."},{"id":"e17","sourceId":"filing-1","location":"MD&A — planned suspension of 2026 repurchases","excerpt":"The Company does not intend to pursue share repurchases in 2026 due to the expected acquisition of Boyd Thermal in the second quarter of 2026."},{"id":"e18","sourceId":"filing-2","location":"MD&A — Boyd Thermal acquisition and repurchase policy","excerpt":"The Company does not intend to pursue share repurchases in 2026 due to the acquisition of Boyd Thermal on March 12, 2026."},{"id":"e19","sourceId":"filing-3","location":"Compensation discussion — actual 2025 long-term incentive grant mix","excerpt":"Long-term incentive grants were comprised of PSUs (50%) and time-based equity awards (50%)."},{"id":"e20","sourceId":"filing-3","location":"Compensation discussion — 2025 annual incentive metrics","excerpt":"Metrics, Goals, and Results — In February 2025, the Committee established Adjusted EPS and Adjusted OCF goals based on its review of market analyses, our annual profit plan as approved by the Board, external research reports, and analyses of peer group data."},{"id":"e21","sourceId":"filing-3","location":"Compensation discussion — 2025–2027 relative TSR performance criterion","excerpt":"That is, awards for the 2025-2027 ESIP award period will be determined based on our TSR relative to that of the TSR Peer Group."},{"id":"e22","sourceId":"filing-3","location":"Compensation discussion — Ruiz award value at February 25, 2026 vesting","excerpt":"Ruiz $850,000 5,235 7,225 $2,694,636 $82,068 $2,776,704 H."},{"id":"e23","sourceId":"filing-3","location":"Compensation practices — recovery and misconduct policy","excerpt":"Compensation recovery policy (clawback for financial restatements due to material noncompliance with financial reporting requirements and forfeiture for misconduct)"},{"id":"e24","sourceId":"filing-3","location":"Proxy summary — existing governance practices and attendance","excerpt":"Proposals Board Voting Recommendations Page Proposal 1 Electing the 11 director nominees FOR each nominee 6 Proposal 2 Approving the appointment of independent auditor for 2026 and authorizing the Audit Committee of the Board of Directors to set auditor remuneration FOR 24 Proposal 3 Approving, on an advisory basis, the Company's executive compensation FOR 26 Proposal 4 Approving the Board of Directors' authority to issue shares under Irish law FOR 72 Proposal 5 Approving the Board of Directors' authority to opt-out of pre-emption rights under Irish law FOR 73 Proposal 6 Authorizing the Company and any subsidiary of the Company to make overseas market purchases of Company shares FOR 75 EATON 2026 Proxy Statement Table of Contents Proxy Summary 2 EATON 2026 Proxy Statement BOARD AND GOVERNANCE HIGHLIGHTS Current Board Mix: Board and Governance Information Board and Governance Information Number of new directors added in the last two years 4 Mandatory retirement age Yes Average director attendance at the Board and Committee meetings 98.8% Proxy access rights for shareholders Yes Overboarding policy Yes Holders of 10% of the outstanding stock may call a special meeting of shareholders Yes Annual election of all directors Yes Board orientation and continuing education program Yes Majority voting for directors Yes Board oversight of sustainability matters Yes Independent Chairman of the Board Yes Code of Ethics for directors, officers and employees Yes Independent directors meet without management present Yes Succession planning Yes Director stock ownership guidelines Yes Sustainability reporting: SASB, TCFD and GRI Yes Table of Contents Proxy Summary EATON 2026 Proxy Statement 3 DIRECTOR NOMINEES Each director nominee is elected annually by a majority of votes cast."},{"id":"e25","sourceId":"filing-1","location":"Independent auditor report — internal control over financial reporting","excerpt":"In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on the COSO criteria."},{"id":"e26","sourceId":"filing-3","location":"Other information — late Section 16 filings","excerpt":"Based solely on our review of Section 16 reports filed electronically with the SEC and written representations from certain reporting persons, we believe that all Section 16(a) filing requirements applicable to those officers, directors, and 10% shareholders were satisfied, except that due to administrative oversight: one Form 4 report for Paulo Ruiz, reporting transactions relating to acquisition of phantom units under the deferred compensation plan and exercise of stock options, was filed late on May 28, 2025; and one Form 3/A, reporting a transaction relating to a grant of RSUs, and one Form 4, reporting transactions relating to vesting and tax withholding of RSUs, for Lucy Clark Dougherty were filed late on February 20, 2026."},{"id":"e27","sourceId":"filing-2","location":"MD&A — operational improvements and consolidated earnings bridge","excerpt":"30 Table of Contents Net Income Changes in Net income attributable to Eaton ordinary shareholders and Net income per share attributable to Eaton ordinary shareholders - diluted are summarized as follows: Three months ended Six months ended (In millions except for per share data) Dollars Per share Dollars Per share June 30, 2025 $ 982 $ 2.51 $ 1,945 $ 4.96 Business segment results of operations Operational performance 244 0.62 373 0.96 Foreign currency (5) (0.01) 3 0.01 Corporate Interest expense - net (107) (0.27) (167) (0.42) Intangible asset amortization expense (97) (0.25) (123) (0.33) Restructuring program charges — — (16) (0.05) Acquisition and divestiture charges (137) (0.35) (216) (0.55) Other corporate items 5 0.01 (5) (0.01) Tax rate impact (64) (0.16) (107) (0.27) Impact of shares — 0.01 — 0.03 June 30, 2026 $ 821 $ 2.11 $ 1,687 $ 4.33 31 Table of Contents Business Segment Results of Operations The following is a discussion of Net sales, operating profit and operating margin by business segment."},{"id":"e28","sourceId":"filing-1","location":"Risk factors — possible customer response to price increases","excerpt":"In addition, our responses to mitigate the impact of these conditions, such as potential price increases, could negatively impact our market share or relationships with distributors or customers."}],"changes":["Retain the previous uncertain verdict: the broader passages still do not establish durable barriers or realized competitive weakness.","Correct the previous statement that realized pricing is undisclosed: the supplied historical filings explicitly report positive 2023 net price realization. Current pricing outcomes remain insufficiently isolated.","Add assessments supported by actual compensation arrangements, governance disclosures and first-half 2026 capital deployment. Distinguish improved segment operations from acquisition-related financing costs and lower consolidated earnings."],"limitations":["All source dates are filing dates, retaining dateKind=filed; none is treated as a retrieval date or necessarily the original publication date.","No competitors are identified as competitors in the supplied passages. Companies named as acquisition targets, transaction counterparties, director employers or advisers do not establish competitor coverage.","Market-leadership statements and descriptions of intellectual-property value are issuer assertions. No supplied market-share series, protected-design economics, switching-cost disclosures or comparative production costs establish a moat.","Firm backlog supports committed demand, but acquisitions and delivery timing prevent treating its absolute size as evidence of organic customer retention or competitive protection.","Historical net price realization is demonstrated, but pricing contribution, recent concessions, escalation clauses and repricing rights are not separately disclosed.","Compensation policies and actual awards are supplied, but executive beneficial ownership amounts and compliance with ownership requirements are absent. Annual-meeting proposals are not treated as approved resolutions.","Generic risk factors identify possible erosion mechanisms, not realized customer losses. Recent margin changes and financing costs are observed outcomes, but do not independently prove moat erosion."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":null,"rationale":"Intellectual property and engineering capabilities establish differentiated resources, but their exclusionary strength or superiority over alternatives is unestablished.","evidenceIds":["e1","e2","e3","e6"]},{"criterion":"durability","grade":null,"rationale":"Ongoing development and aftermarket demand support relevance, but do not establish how long excess economic returns could withstand competition.","evidenceIds":["e2","e4","e5"]},{"criterion":"customer_dependency","grade":null,"rationale":"Firm orders and aftermarket sales demonstrate demand, but the passages do not establish switching friction, exclusive platform positions or dependence on Eaton.","evidenceIds":["e4","e11","e12"]},{"criterion":"erosion_resilience","grade":null,"rationale":"Mixed segment performance provides operating evidence, but the absence of an established structural barrier prevents assessing its resilience to competitive erosion.","evidenceIds":["e7","e8","e14"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":2,"rationale":"Positive net price realization contributed to 2023 organic sales and gross-margin improvement. This demonstrates historical pricing success, but recent sales and margin bridges do not isolate pricing sufficiently to establish sustained current power.","evidenceIds":["e9","e10","e7"]},{"criterion":"retention","grade":2,"rationale":"Commercial and military aftermarket strength and firm backlog support continuing customer demand indirectly. They do not identify repeat-customer rates or demonstrate retention following price increases; many other open orders remain nonfirm.","evidenceIds":["e4","e11","e12","e13"]},{"criterion":"margin_resilience","grade":2,"rationale":"Electrical Americas first-half margin fell from 29.7% to 26.6% despite 16% organic growth. Aerospace margin rose from 22.6% to 24.7%, with mix, sales and a facility sale offsetting inflation. Resilience is mixed and cannot be attributed solely to pricing.","evidenceIds":["e7","e14","e8"]},{"criterion":"contractual_freedom","grade":null,"rationale":"The passages do not disclose price-reset rights, escalation provisions or restrictions on changing customer terms. Potential price increases and firm order commitments do not establish contractual pricing freedom.","evidenceIds":["e28","e11"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"First-half 2026 operating cash flow increased to $1.634 billion, funding $446 million of capital spending and $858 million of dividends. Management implemented its announced repurchase pause, but $11.079 billion of acquisitions required substantial borrowing and materially increased debt. Acquisition returns remain unproven, supporting a mixed assessment.","evidenceIds":["e15","e16","e17","e18"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Actual grants combine performance and time-based equity; annual incentives use adjusted EPS and operating cash flow, while long-term performance awards use relative TSR. Disclosed vesting and recovery provisions support meaningful alignment. Adjusted metrics, time-based awards and missing ownership amounts limit the assessment; these are existing arrangements rather than assumed approval of meeting proposals.","evidenceIds":["e19","e20","e21","e22","e23"]},{"criterion":"execution","grade":2,"rationale":"Indirect operating evidence shows strong Electrical Americas organic growth, Aerospace aftermarket strength, improved segment operational performance and increased operating cash flow. Electrical Americas margin compression, lower consolidated earnings and acquisition-related charges and interest costs make execution mixed rather than uniformly strong.","evidenceIds":["e7","e4","e27","e15"]},{"criterion":"governance","grade":3,"rationale":"Disclosed existing practices include an independent chairman, annual director elections, majority voting, shareholder proxy access and 98.8% board and committee attendance. The auditor found effective year-end 2025 financial-reporting controls. Late insider filings are a concrete compliance weakness, but do not outweigh this governance evidence; exceptional durability is unestablished.","evidenceIds":["e24","e25","e26"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"a781b51fff4d65d4e4eedb491e3b793ea6016ef9d18bf5b9855fa1d534d3c68f","updatedAt":"2026-10-18T12:40:21.482Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","publishedAt":"2026-02-26","sha256":"d5ebe0a5209bbc56cf8974e4ad83ddf4fda1c74852d8d52d61a51346dd321df9","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000030/etn-20260630.htm","publishedAt":"2026-07-31","sha256":"614f61e54c46506933e0efb0ebdffb2a6e52a3b8c574e134a94a19f2ffc8b3c1","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1551182/000119312526105117/etn-20260312.htm","publishedAt":"2026-03-13","sha256":"dc7d1d725c4129f1e3ddd31964e9f1a6c95725512d057bdf02ff72511a19650d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118225000006/etn-20241231.htm","publishedAt":"2025-02-27","sha256":"014cbf7eed0373e48d5d2073b6288fb278641fd692d98ace107a5b5582e7b20e","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118224000006/etn-20231231.htm","publishedAt":"2024-02-29","sha256":"015e4776e5ea802cd42b75eaadb2711343e8e160a90c525b483aba59bb7f5060","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000013/etn-20260331.htm","publishedAt":"2026-05-05","sha256":"5ba8191343b0bd63343388576bb8e42c3f49826746137e2bbdb400ab29841c58","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:4d4ec1a6bbc431d62f27fa2061c10a1b40594e2293ceeb8414ef647d1063c4d7","usage":{"input_tokens":84173,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3286,"reasoning_output_tokens":126},"basisSupplement":{"previousHash":"ac85e7ef734252b9816554181bfbc9b5b1a4b46179d1b432321dd787ecd23acc","checkedAt":"2026-10-18T16:49:32.080Z","rule":"dated historical and missing inputs only; accepted observations and research date retained"}},"signals":[{"period":"2021","end":"2021-12-31","values":{"gross_margin":32.2753209700428,"operating_margin":null,"roic":null,"fcf_margin":8.090482983492969,"sbc_revenue":null},"issues":{"pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","ev_ebitda":"Operating income is unavailable in the extracted statements for this period.","sbc":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc_ocf":"The reported inputs required for this metric are unavailable in the extracted statements for this 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income is unavailable in the extracted statements for this period.","interest_coverage":"Operating income is unavailable in the extracted statements for this period."}},{"period":"2024","end":"2024-12-31","values":{"gross_margin":38.198408232173,"operating_margin":null,"roic":null,"fcf_margin":14.145027735348501,"sbc_revenue":null},"issues":{"ev_ebitda":"Operating income is unavailable in the extracted statements for this period.","sbc":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc_ocf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","operating_margin":"Operating income is unavailable in the extracted statements for this period.","ebitda_margin":"Operating income is unavailable in the extracted statements for this period.","sbc_revenue":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"Operating income is unavailable in the extracted statements for this period.","roce":"Operating income is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","net_debt_ebitda":"Operating income is unavailable in the extracted statements for this period.","interest_coverage":"Operating income is unavailable in the extracted statements for this period."}},{"period":"2025","end":"2025-12-31","values":{"gross_margin":37.58743806470417,"operating_margin":null,"roic":null,"fcf_margin":12.944476828912855,"sbc_revenue":null},"issues":{"ev_ebitda":"Operating income is unavailable in the extracted statements for this period.","sbc":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","sbc_ocf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","operating_margin":"Operating income is unavailable in the extracted statements for this period.","ebitda_margin":"Operating income is unavailable in the extracted statements for this period.","sbc_revenue":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"Operating income is unavailable in the extracted statements for this period.","roce":"Operating income is unavailable in the extracted statements for this period.","roiic":"Operating income is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","net_debt_ebitda":"Operating income is unavailable in the extracted statements for this period.","interest_coverage":"Operating income is unavailable in the extracted statements for this period."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000007/etn-20251231.htm","publishedAt":"2026-02-26","sha256":"d5ebe0a5209bbc56cf8974e4ad83ddf4fda1c74852d8d52d61a51346dd321df9","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000030/etn-20260630.htm","publishedAt":"2026-07-31","sha256":"614f61e54c46506933e0efb0ebdffb2a6e52a3b8c574e134a94a19f2ffc8b3c1","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/1551182/000119312526105117/etn-20260312.htm","publishedAt":"2026-03-13","sha256":"dc7d1d725c4129f1e3ddd31964e9f1a6c95725512d057bdf02ff72511a19650d","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118225000006/etn-20241231.htm","publishedAt":"2025-02-27","sha256":"014cbf7eed0373e48d5d2073b6288fb278641fd692d98ace107a5b5582e7b20e","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118224000006/etn-20231231.htm","publishedAt":"2024-02-29","sha256":"015e4776e5ea802cd42b75eaadb2711343e8e160a90c525b483aba59bb7f5060","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/1551182/000155118226000013/etn-20260331.htm","publishedAt":"2026-05-05","sha256":"5ba8191343b0bd63343388576bb8e42c3f49826746137e2bbdb400ab29841c58","dateKind":"filed"}],"history":[{"version":4,"updatedAt":"2026-10-18T16:49:32.080Z","verdict":"uncertain","value":null},{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"uncertain","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"uncertain","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}