Eaton (ETN) Research & Development (2012 - 2026)
Eaton's Research & Development came in at $227 million for Q2 2026, up 18.2% from $192 million a year earlier and up 7.6% from the prior quarter.
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Analysis
Eaton (ETN) Research & Development (2012 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Eaton reported Research & Development of $844 million, up 5.8% year-over-year; for FY2025, it came in at $797 million, up 0.4% from FY2024.
- Research & Development has increased in each of the last five years, with a five-year compound annual growth rate of 7.7% (FY2020 to FY2025).
- Going back by year, Research & Development was $794 million in FY2024 (+5.3%), $754 million in FY2023 (+13.4%), $665 million in FY2022 (+8.0%) and $616 million in FY2021 (+11.8%).
- The Q2 2026 figure represents the highest quarterly Research & Development in data going back to Q1 2012.
- Year-over-year, Research & Development has increased for three consecutive quarters, with growth averaging 4.7% over the last eight quarters.
- The fastest year-over-year change in Research & Development over five years came in Q4 2023 (growth of 20.4%), and the weakest in Q2 2025 (a decline of 2.0%).
- Business Quant data shows ETN's Research & Development at $211 million (Q1 2026), $203 million (Q4 2025) and $203 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 376.87 Bn | 348.57 Bn | 7.76 Bn | 616.00 Mn |
| 2 | Amphenol | 208.65 Bn | 203.35 Bn | 3.55 Bn | - |
| 3 | Deere | 185.97 Bn | 194.73 Bn | 4.66 Bn | 567.00 Mn |
| 4 | Eaton | 167.50 Bn | 164.73 Bn | 2.86 Bn | 227.00 Mn |
| 5 | Parker-Hannifin | 122.25 Bn | 120.39 Bn | 2.25 Bn | - |
| 6 | Vertiv Holdings | 93.95 Bn | 84.57 Bn | 1.23 Bn | - |
| 7 | Emerson Electric | 88.90 Bn | 81.65 Bn | 2.66 Bn | - |
| 8 | 3M | 87.39 Bn | 68.85 Bn | 2.68 Bn | 302.00 Mn |
| 9 | Illinois Tool Works | 78.00 Bn | 74.56 Bn | 1.90 Bn | - |
| 10 | Cummins | 71.32 Bn | 68.45 Bn | 2.47 Bn | 385.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 227.00 Mn |
| Mar 31, 2026 | 211.00 Mn |
| Dec 31, 2025 | 203.00 Mn |
| Sep 30, 2025 | 203.00 Mn |
| Jun 30, 2025 | 192.00 Mn |
| Mar 31, 2025 | 198.00 Mn |
| Dec 31, 2024 | 201.00 Mn |
| Sep 30, 2024 | 207.00 Mn |
| Jun 30, 2024 | 196.00 Mn |
| Mar 31, 2024 | 189.00 Mn |
| Dec 31, 2023 | 201.00 Mn |
| Sep 30, 2023 | 187.00 Mn |
| Jun 30, 2023 | 187.00 Mn |
| Mar 31, 2023 | 179.00 Mn |
| Dec 31, 2022 | 167.00 Mn |
| Sep 30, 2022 | 165.00 Mn |
| Jun 30, 2022 | 168.00 Mn |
| Mar 31, 2022 | 165.00 Mn |
| Dec 31, 2021 | 162.00 Mn |
| Sep 30, 2021 | 152.00 Mn |
API Access
Eaton Research & Development 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=research-and-development&ticker=ETN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=ETN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();