Eaton (ETN) Operating Expenses (2012 - 2026)
Eaton's Operating Expenses was $1.46 billion in Q2 2026, up 9.1% from $1.34 billion a year earlier but down 1.1% from the prior quarter.
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Analysis
Eaton (ETN) Operating Expenses (2012 - 2026) Analysis & Trends
On a trailing twelve-month basis, Eaton's Operating Expenses was $5.46 billion through Jun 30, 2026, up 8.7% year-over-year; for FY2025, it came in at $5.11 billion, up 4.9% from FY2024.
- Operating Expenses has now increased for five consecutive years, with a five-year compound annual growth rate of 7.1% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $4.87 billion in FY2024 (+7.1%), $4.55 billion in FY2023 (+16.9%), $3.89 billion in FY2022 (+0.5%) and $3.87 billion in FY2021 (+6.8%).
- Quarterly Operating Expenses has moved between $913 million (Q4 2021) and $1.48 billion (Q1 2026) over five years.
- Compared with a year earlier, Operating Expenses has increased for 15 straight quarters, with growth averaging 7.5% over the last eight quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q4 2023 (growth of 20.1%); the worst was Q2 2022 (a decline of 3.3%).
- Per Business Quant data, ETN's Operating Expenses in the three quarters before Q2 2026 was $1.48 billion (Q1 2026), $1.21 billion (Q4 2025) and $1.31 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 380.10 Bn | 351.79 Bn | 7.76 Bn | 16.25 Bn |
| 2 | Amphenol | 208.03 Bn | 202.73 Bn | 3.55 Bn | 963.40 Mn |
| 3 | Deere | 183.47 Bn | 192.23 Bn | 4.66 Bn | 10.73 Bn |
| 4 | Eaton | 168.26 Bn | 165.49 Bn | 2.86 Bn | 1.46 Bn |
| 5 | Parker-Hannifin | 122.34 Bn | 120.47 Bn | 2.25 Bn | 874.00 Mn |
| 6 | Vertiv Holdings | 95.63 Bn | 86.25 Bn | 1.23 Bn | 490.50 Mn |
| 7 | Emerson Electric | 87.72 Bn | 80.47 Bn | 2.66 Bn | 1.34 Bn |
| 8 | 3M | 86.87 Bn | 68.33 Bn | 2.68 Bn | 5.52 Bn |
| 9 | Illinois Tool Works | 76.08 Bn | 72.64 Bn | 1.90 Bn | - |
| 10 | Cummins | 71.78 Bn | 68.92 Bn | 2.47 Bn | 1.28 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.46 Bn |
| Mar 31, 2026 | 1.48 Bn |
| Dec 31, 2025 | 1.21 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.34 Bn |
| Mar 31, 2025 | 1.25 Bn |
| Dec 31, 2024 | 1.20 Bn |
| Sep 30, 2024 | 1.24 Bn |
| Jun 30, 2024 | 1.22 Bn |
| Mar 31, 2024 | 1.21 Bn |
| Dec 31, 2023 | 1.16 Bn |
| Sep 30, 2023 | 1.14 Bn |
| Jun 30, 2023 | 1.17 Bn |
| Mar 31, 2023 | 1.08 Bn |
| Dec 31, 2022 | 963.00 Mn |
| Sep 30, 2022 | 978.00 Mn |
| Jun 30, 2022 | 996.00 Mn |
| Mar 31, 2022 | 955.00 Mn |
| Dec 31, 2021 | 913.00 Mn |
| Sep 30, 2021 | 986.00 Mn |
API Access
Eaton Operating Expenses 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=operating-expenses&ticker=ETN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=ETN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();