Income-statement, balance-sheet and cash-flow figures from SEC filings, plus a debt profile anchored in the latest 10-K and updated by each 10-Q and debt exhibit.
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement.
Across FY2010–FY2025: $12.08B in buybacks, $16.74B in dividends.
Debt Profile
Reported borrowing balances, repayment dates and agreement terms, with links to the underlying filings.
Reported debt balances
Each amount keeps its reported scope. Related balance-sheet measures appear under the borrowing they describe.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
3.950% Notes due 2029
Note · Eaton Corporation
Reference: 3.950% Notes due 2029
Active
Original principal
USD 1,500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 6, 2029
Last reported interest terms:
3.95%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
4.200% Notes due 2031
Note · Eaton Corporation
Reference: 4.200% Notes due 2031
Active
Original principal
USD 1,500,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 6, 2031
Last reported interest terms:
4.2%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
4.500% Notes due 2033
Note · Eaton Corporation
Reference: 4.500% Notes due 2033
Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 6, 2033
Last reported interest terms:
4.5%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
3.550% Notes due 2034
Note · Eaton Capital Unlimited Company
Reference: 3.550% Notes due 2034
Active
Original principal
EUR 600,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 10, 2034
Last reported interest terms:
3.55%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2034 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of €600,000,000 and the 2038 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of €600,000,000. The principal amount of the 2034 Notes shall be payable on March 10, 2034. The principal amount of the 2038 Notes shall be payable on March 10, 2038.
Issuer evidence: THIS FOURTH SUPPLEMENTAL INDENTURE, dated as of March 10, 2026 (this “Supplemental Indenture”), among Eaton Capital Unlimited Company, an Irish public unlimited company, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
4.800% Notes due 2036
Note · Eaton Corporation
Reference: 4.800% Notes due 2036
Active
Original principal
USD 2,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 6, 2036
Last reported interest terms:
4.8%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
4.000% Notes due 2038
Note · Eaton Capital Unlimited Company
Reference: 4.000% Notes due 2038
Active
Original principal
EUR 600,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 10, 2038
Last reported interest terms:
4%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2034 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of €600,000,000 and the 2038 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of €600,000,000. The principal amount of the 2034 Notes shall be payable on March 10, 2034. The principal amount of the 2038 Notes shall be payable on March 10, 2038.
Issuer evidence: THIS FOURTH SUPPLEMENTAL INDENTURE, dated as of March 10, 2026 (this “Supplemental Indenture”), among Eaton Capital Unlimited Company, an Irish public unlimited company, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.550% Notes due 2034 (the “2034 Notes”) and the 4.000% Notes due 2038 (the “2038 Notes” and, together with the 2034 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
5.450% Notes due 2056
Note · Eaton Corporation
Reference: 5.450% Notes due 2056
Active
Original principal
USD 1,000,000,000
Outstanding
—
Commitment
—
Availability
—
Maturity
Mar 6, 2056
Last reported interest terms:
5.45%
Reported 2026-03-10Later filings may not restate these terms; this does not confirm they still apply.
Covenant terms for this agreement are not yet verified.
SECTION 2.2 []()Amount and Payment of Principal and Interest. (a) In accordance with the Company Order delivered to the Trustee pursuant to Section 3.03 of the Base Indenture, the Trustee shall authenticate and deliver the 2028 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2029 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2031 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,500,000,000, the 2033 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000, the 2036 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $2,000,000,000 and the 2056 Notes with the Guarantee affixed thereto for original issue on the date hereof in the aggregate principal amount of $1,000,000,000. The principal amount of the 2028 Note shall be payable on March 6, 2028. The principal amount of the 2029 Note shall be payable on March 6, 2029. The principal amount of the 2031 Note shall be payable on March 6, 2031. The principal amount of the 2033 Note shall be payable on March 6, 2033. The principal amount of the 2036 Note shall be payable on March 6, 2036. The principal amount of the 2056 Note shall be payable on March 6, 2056.
Issuer evidence: THIS THIRD SUPPLEMENTAL INDENTURE, dated as of March 6, 2026 (this “Supplemental Indenture”), among Eaton Corporation, an Ohio corporation, as issuer (the “Company”), Eaton Corporation plc, an Irish public limited company (the “Parent”), the Subsidiary Guarantors (as defined below), and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee”).
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Supporting evidence: WHEREAS, the Company has duly authorized and desires to cause to be established pursuant to the Base Indenture and this Supplemental Indenture a new series of Securities designated the 3.850% Notes due 2028 (the “2028 Notes”), 3.950% Notes due 2029 (the “2029 Notes”), 4.200% Notes due 2031 (the “2031 Notes”), 4.500% Notes due 2033 (the “2033 Notes”), 4.800% Notes due 2036 (the “2036 Notes”) and 5.450% Notes due 2056 (the “2056 Notes” and, collectively with the 2028 Notes, the 2029 Notes, the 2031 Notes, the 2033 Notes and the 2036 Notes, the “Notes”), the form and terms of such Notes to be set forth in this Supplemental Indenture;
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against peers, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
6.16×
Peer median 5.12×
EV/EBIT
—
Peer median 24.51×
P/E (TTM)
43.28×
Peer median 32.61×
Peer medians compare against the 15 similar-size Specialty Industrial Machinery companies (of 78 listed).
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
Electrical Americas Segment
$13,276,000,000
$11,436,000,000
$10,098,000,000
$8,497,000,000
$7,242,000,000
$6,680,000,000
$8,175,000,000
$7,914,000,000
Electrical Global Segment
$6,815,000,000
$6,248,000,000
$6,084,000,000
$5,848,000,000
$5,516,000,000
$4,703,000,000
$5,172,000,000
$5,159,000,000
Aerospace Segment
$4,249,000,000
$3,744,000,000
$3,413,000,000
$3,039,000,000
$2,648,000,000
$2,223,000,000
$2,480,000,000
$2,335,000,000
Vehicle Segment
$2,505,000,000
$2,790,000,000
$2,965,000,000
$2,830,000,000
$2,579,000,000
$2,118,000,000
$3,038,000,000
$3,489,000,000
EMobility Segment
$604,000,000
$662,000,000
$636,000,000
$538,000,000
$343,000,000
$292,000,000
$321,000,000
$320,000,000
Electrical Products
—
—
—
—
—
—
$7,148,000,000
$7,124,000,000
Electrical Systems and Services
—
—
—
—
—
—
$6,287,000,000
$6,024,000,000
Hydraulics Segment
—
—
$0
$0
$1,300,000,000
$1,842,000,000
$2,204,000,000
$2,392,000,000
By Geography (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
United States
$17,122,000,000
$15,151,000,000
$14,071,000,000
$12,353,000,000
$10,868,000,000
$10,044,000,000
$12,336,000,000
$12,034,000,000
Europe
$5,078,000,000
$4,530,000,000
$4,339,000,000
$3,957,000,000
$4,276,000,000
$3,818,000,000
$4,311,000,000
$4,553,000,000
Asia Pacific
$2,704,000,000
$2,459,000,000
$2,288,000,000
$2,185,000,000
$2,527,000,000
$2,300,000,000
$2,490,000,000
$2,649,000,000
Latin America
$1,461,000,000
$1,680,000,000
$1,549,000,000
$1,504,000,000
$1,160,000,000
$939,000,000
$1,312,000,000
$1,442,000,000
Canada
$1,083,000,000
$1,058,000,000
$949,000,000
$754,000,000
$797,000,000
$757,000,000
$941,000,000
$931,000,000
By Product & Service (USD)
Component
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
FY2018
Systems
$13,000,000,000
$11,181,000,000
$9,771,000,000
$8,189,000,000
$7,220,000,000
$6,520,000,000
$6,890,000,000
$6,664,000,000
Product
$7,090,000,000
$6,502,000,000
$6,411,000,000
$6,156,000,000
$5,538,000,000
$4,863,000,000
$6,457,000,000
$6,409,000,000
Commercial
$1,448,000,000
$1,707,000,000
$1,784,000,000
$1,736,000,000
$1,438,000,000
$1,060,000,000
$3,076,000,000
$3,518,000,000
Passenger and Light Duty
$1,056,000,000
$1,083,000,000
$1,180,000,000
$1,094,000,000
$1,141,000,000
$1,058,000,000
$3,000,000,000
$3,460,000,000
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
