Eaton (ETN) Gross Margin (2012 - 2026)
Eaton (ETN) recorded Gross Margin of 33.47% in Q2 2026, down 3.49 percentage points from 36.95% a year earlier and down 2.13 percentage points from the prior quarter.
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Analysis
Eaton (ETN) Gross Margin (2012 - 2026) Analysis & Trends
On a TTM basis, Eaton's Gross Margin came in at 35.90% as of Jun 30, 2026, down 2.26 percentage points year-over-year; for FY2025, it came in at 37.59%, down 0.61 percentage points from FY2024.
- Annual Gross Margin has a five-year change of +7.07 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 38.20% in FY2024 (+1.84 pp), 36.36% in FY2023 (+3.17 pp), 33.19% in FY2022 (+0.91 pp) and 32.28% in FY2021 (+1.76 pp).
- The Q2 2026 figure is the lowest quarterly Gross Margin since Q3 2022.
- On a year-over-year basis, Gross Margin has declined for five consecutive quarters, with an average year-over-year change of -0.74 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 4.07 percentage points in Q3 2023, against a drop of 3.49 percentage points in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 35.59% (Q1 2026), 36.82% (Q4 2025) and 38.28% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 380.10 Bn | 351.79 Bn | 7.76 Bn | 37.78% |
| 2 | Amphenol | 208.03 Bn | 202.73 Bn | 3.55 Bn | 40.51% |
| 3 | Deere | 183.47 Bn | 192.23 Bn | 4.66 Bn | 36.94% |
| 4 | Eaton | 168.26 Bn | 165.49 Bn | 2.86 Bn | 33.47% |
| 5 | Parker-Hannifin | 122.34 Bn | 120.47 Bn | 2.25 Bn | 39.04% |
| 6 | Vertiv Holdings | 95.63 Bn | 86.25 Bn | 1.23 Bn | 37.71% |
| 7 | Emerson Electric | 87.72 Bn | 80.47 Bn | 2.66 Bn | 54.48% |
| 8 | 3M | 86.87 Bn | 68.33 Bn | 2.68 Bn | 41.28% |
| 9 | Illinois Tool Works | 76.08 Bn | 72.64 Bn | 1.90 Bn | 44.13% |
| 10 | Cummins | 71.78 Bn | 68.92 Bn | 2.47 Bn | 26.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.47% |
| Mar 31, 2026 | 35.59% |
| Dec 31, 2025 | 36.82% |
| Sep 30, 2025 | 38.28% |
| Jun 30, 2025 | 36.95% |
| Mar 31, 2025 | 38.37% |
| Dec 31, 2024 | 38.93% |
| Sep 30, 2024 | 38.55% |
| Jun 30, 2024 | 37.95% |
| Mar 31, 2024 | 37.32% |
| Dec 31, 2023 | 37.46% |
| Sep 30, 2023 | 37.35% |
| Jun 30, 2023 | 36.12% |
| Mar 31, 2023 | 34.36% |
| Dec 31, 2022 | 34.14% |
| Sep 30, 2022 | 33.28% |
| Jun 30, 2022 | 32.75% |
| Mar 31, 2022 | 32.50% |
| Dec 31, 2021 | 32.76% |
| Sep 30, 2021 | 32.20% |
API Access
Eaton Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=ETN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "ETN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=ETN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();