Eaton vs Vertiv
Eaton reported revenue of $27.4 billion in fiscal 2025, 2.7 times Vertiv's $10.2 billion in fiscal 2025. Eaton's revenue grew 10.3% in its latest year, and Vertiv's grew 27.7%. Free cash flow was $3.6 billion at Eaton and $1.9 billion at Vertiv.
Side by side
| Eaton | Vertiv | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $27.4B | $10.2B |
| Revenue growth | 10.3% | 27.7% |
| Revenue growth a year, last 5 years | 9.0% | 18.5% |
| Gross margin | 37.6% | 36.3% |
| Operating margin | — | 17.9% |
| Net margin | 14.9% | 13.0% |
| Free cash flow | $3.6B | $1.9B |
| Free cash flow margin | 12.9% | 18.5% |
| Return on capital | 15.8% | 30.2% |
| Net debt to EBITDA | 1.5x | 0.6x |
| Dividends and buybacks | $3.5B | $67M |
| Change in diluted share count | −2.0% | 1.1% |
| Last close | $371.92 | $199.78 |
| P/E at the last close | 37.8× | 45.2× |
| Insider trades, last 12 months | bought $588,771, sold $22.6 million | sold $128.2 million |
| Piotroski F-score | 6 of 9 | 6 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
EatonVertiv
Operating margin
Percent of revenue
EatonVertiv
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
EatonVertiv