EMR vs ETN: Emerson Electric and Eaton Corporation compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Eaton Corporation is the larger company, worth $152.5B, about 1.8 times Emerson Electric.
- Eaton Corporation grew revenue faster over the last year (+21.4% vs +7.0%).
- On earnings, Emerson Electric is the cheaper stock (35.5x vs 38.4x).
- Eaton Corporation's price assumes faster free cash flow growth: about 15% a year, against 11% for Emerson Electric (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | EMR | ETN |
|---|---|---|
| Market cap | $86.0B | $152.5B |
| Share price | $161.83 | $429.65 |
| Revenue (last fiscal year) | $18.0B | $27.4B |
| Free cash flow (last fiscal year) | $2.7B | $3.6B |
| Revenue growth, last year | +7.0% | +21.4% |
| Revenue growth per year, last 5 fiscal years | +8.6% | +8.7% |
| Operating margin | — | — |
| Net margin | 13.8% | 12.8% |
| Return on equity | 12.7% | 18.9% |
| P/E (trailing) | 35.5x | 38.4x |
| Price / free cash flow | 32.2x | 34.1x |
| EV / EBITDA | 20.9x | 28.3x |
| FCF growth the price implies | 11.2% | 15.0% |
| Dividend yield | 1.4% | 1.1% |
| Debt / equity | 1.07x | 1.77x |
| Fundamental grade | C | D |
| Superinvestors holding it | 7 | 6 |
| Insider purchases, last 12 months | 4 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Emerson Electric
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.9B | $3.2B | — |
| 2022 | $13.8B | $2.6B | — |
| 2023 | $15.2B | $274M | — |
| 2024 | $17.5B | $2.9B | — |
| 2025 | $18.0B | $2.7B | — |
Eaton Corporation
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $19.6B | $1.6B | — |
| 2022 | $20.8B | $1.9B | — |
| 2023 | $23.2B | $2.9B | — |
| 2024 | $24.9B | $3.5B | — |
| 2025 | $27.4B | $3.6B | — |
Where the revenue comes from
Emerson Electric · by segments, 2022
Automation Solutions$11.8B60%
Climate Technologies$5.2B26%
Tools & Home Products$2.0B10%
AspenTech$656M3%
Eaton Corporation · by segments, 2025
Electrical Americas$13.3B48%
Electrical Global$6.8B25%
Aerospace$4.2B15%
Vehicle$2.5B9%
eMobility$604M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open EMR in InvestinglyQuestions
Which is bigger, Emerson Electric or Eaton Corporation?
Eaton Corporation (ETN), at $152.5B against $86.0B.
Is EMR or ETN cheaper?
By trailing P/E, Emerson Electric (35.5x) is cheaper than Eaton Corporation (38.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, EMR or ETN?
Eaton Corporation: revenue grew +21.4% over the last year, against +7.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.