Eaton (ETN) Gross Margin (2012 - 2026)
Eaton (ETN) recorded Gross Margin of 34.70% in Q3 2026, down 3.58 percentage points from 38.28% a year earlier but up 1.24 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 35.05% as of Sep 30, 2026, down 3.05 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).
- Quarterly Gross Margin has ranged from 32.50% in Q1 2022 to 38.93% in Q4 2024 over the past five years.
- On a year-over-year basis, Gross Margin has declined for six consecutive quarters, with an average year-over-year change of -1.34 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 3.58 percentage points in Q3 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 33.47% (Q2 2026), 35.59% (Q1 2026) and 36.82% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 268.42 Bn | 239.73 Bn | 7.35 Bn | 35.54% |
| 2 | Amphenol | 200.18 Bn | 194.88 Bn | 4.02 Bn | 39.26% |
| 3 | Deere | 182.33 Bn | 150.42 Bn | 4.66 Bn | 36.94% |
| 4 | Eaton | 139.45 Bn | 136.39 Bn | 3.11 Bn | 34.70% |
| 5 | Parker-Hannifin | 120.96 Bn | 118.84 Bn | 2.26 Bn | 37.73% |
| 6 | 3M | 97.01 Bn | 78.45 Bn | 2.78 Bn | 42.27% |
| 7 | Emerson Electric | 93.92 Bn | 86.65 Bn | 2.66 Bn | 54.48% |
| 8 | Illinois Tool Works | 80.83 Bn | 77.51 Bn | 1.91 Bn | 45.09% |
| 9 | Vertiv Holdings | 75.75 Bn | 64.60 Bn | 1.64 Bn | 38.11% |
| 10 | TE Connectivity | 63.95 Bn | 59.09 Bn | 1.84 Bn | 35.56% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 34.70% |
| 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% |
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();