Eaton (ETN · NYSE)

Energy & MaterialsNYSEUSALarge

Providing Electricity to AI's Most Critical Infrastructure

Data centers need electricity to run. Eaton sells exactly that, at scale.

Eaton Corporation PLC

ETN: NYSE

391.25 USD

+19.55%

year to date

Source: Finnhub

Market Cap$151.96B

Avg Volume3.10M

Price$391.25-2.79%

P/E Ratio39.68ttm

Pricing delayed 20 minutes Oct 16, 2026, 8:00 PM

Data Center Orders Up 70%
Backlog jumped to $470 billion; AI infrastructure needs exponentially more power capacity.
Margins Hit 30.3% Record
Pricing power expands margins as customers pay premium for electrical system reliability.
Backlog Provides Multi-Year Revenue Lock
$14 billion backlog with 1.1 book-to-bill ensures years of locked-in future revenue.

Data Center Spending Concentrated
Data centers drive 45% of electrical growth; pause would slash revenue momentum.
High Valuation
Trading at a higher PE; limited upside after over 150% three-year rally creates downside risk.
Tariff Headwinds Pressure Margins
Steel and aluminum tariffs compress margins; price increases risk losing cost-sensitive customers.