ETN vs GEV: Eaton Corporation and GE Vernova LLC compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- GE Vernova LLC is the larger company, worth $260.3B, about 1.7 times Eaton Corporation.
- GE Vernova LLC grew revenue faster over the last year (+21.9% vs +21.4%).
- On earnings, GE Vernova LLC is the cheaper stock (28.3x vs 38.4x).
- GE Vernova LLC's price assumes faster free cash flow growth: about 22% a year, against 15% for Eaton Corporation (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 | ETN | GEV |
|---|---|---|
| Market cap | $152.5B | $260.3B |
| Share price | $429.65 | $1,004.73 |
| Revenue (last fiscal year) | $27.4B | $38.1B |
| Free cash flow (last fiscal year) | $3.6B | $3.7B |
| Revenue growth, last year | +21.4% | +21.9% |
| Revenue growth per year, last 5 fiscal years | +8.7% | +8.7% |
| Operating margin | — | 4.3% |
| Net margin | 12.8% | 23.0% |
| Return on equity | 18.9% | 79.7% |
| P/E (trailing) | 38.4x | 28.3x |
| Price / free cash flow | 34.1x | 70.2x |
| EV / EBITDA | 28.3x | 27.9x |
| FCF growth the price implies | 15.0% | 21.6% |
| Dividend yield | 1.1% | 0.16% |
| Debt / equity | 1.77x | 5.66x |
| Fundamental grade | D | C |
| Superinvestors holding it | 6 | 12 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
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 | — |
GE Vernova LLC
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $29.7B | -$627M | -9.7% |
| 2023 | $33.2B | $442M | -2.8% |
| 2024 | $34.9B | $1.7B | 1.3% |
| 2025 | $38.1B | $3.7B | 3.6% |
Where the revenue comes from
Eaton Corporation · by segments, 2025
Electrical Americas$13.3B48%
Electrical Global$6.8B25%
Aerospace$4.2B15%
Vehicle$2.5B9%
eMobility$604M2%
GE Vernova LLC · by segments, 2025
Power$19.8B51%
Electrification$9.6B25%
Wind$9.1B24%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ETN in InvestinglyQuestions
Which is bigger, Eaton Corporation or GE Vernova LLC?
GE Vernova LLC (GEV), at $260.3B against $152.5B.
Is ETN or GEV cheaper?
By trailing P/E, GE Vernova LLC (28.3x) is cheaper than Eaton Corporation (38.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ETN or GEV?
GE Vernova LLC: revenue grew +21.9% over the last year, against +21.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.