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Side-by-side financial comparison of American Express (AXP) and Eaton Corporation (ETN). Click either name above to swap in a different company.
American Express is the larger business by last-quarter revenue ($10.9B vs $7.1B, roughly 1.6× Eaton Corporation). American Express runs the higher net margin — 22.5% vs 16.0%, a 6.5% gap on every dollar of revenue. On growth, Eaton Corporation posted the faster year-over-year revenue change (13.1% vs 9.9%). American Express produced more free cash flow last quarter ($2.3B vs $1.6B). Over the past eight quarters, Eaton Corporation's revenue compounded faster (9.0% CAGR vs 8.2%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
Eaton Corporation plc is an Irish multinational power management company, with a primary administrative center in Beachwood, Ohio. Eaton has more than 85,000 employees and sells products to customers in more than 175 countries.
AXP vs ETN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.9B | $7.1B |
| Net Profit | $2.5B | $1.1B |
| Gross Margin | — | 36.8% |
| Operating Margin | 28.2% | 18.3% |
| Net Margin | 22.5% | 16.0% |
| Revenue YoY | 9.9% | 13.1% |
| Net Profit YoY | 13.5% | 16.5% |
| EPS (diluted) | $3.52 | $2.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $10.9B | $7.1B | ||
| Q3 25 | $10.4B | $7.0B | ||
| Q2 25 | $10.3B | $7.0B | ||
| Q1 25 | $9.6B | $6.4B | ||
| Q4 24 | $10.0B | $6.2B | ||
| Q3 24 | $9.7B | $6.3B | ||
| Q2 24 | $9.8B | $6.3B | ||
| Q1 24 | $9.3B | $5.9B |
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $2.9B | $1.0B | ||
| Q2 25 | $2.9B | $982.0M | ||
| Q1 25 | $2.6B | $964.0M | ||
| Q4 24 | $2.2B | $971.0M | ||
| Q3 24 | $2.5B | $1.0B | ||
| Q2 24 | $3.0B | $993.0M | ||
| Q1 24 | $2.4B | $821.0M |
| Q4 25 | — | 36.8% | ||
| Q3 25 | — | 38.3% | ||
| Q2 25 | — | 37.0% | ||
| Q1 25 | — | 38.4% | ||
| Q4 24 | — | 38.9% | ||
| Q3 24 | — | 38.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 37.3% |
| Q4 25 | 28.2% | 18.3% | ||
| Q3 25 | 36.7% | 18.2% | ||
| Q2 25 | 34.4% | 16.9% | ||
| Q1 25 | 34.6% | 18.5% | ||
| Q4 24 | 27.7% | 18.7% | ||
| Q3 24 | 33.0% | 19.0% | ||
| Q2 24 | 38.6% | 18.8% | ||
| Q1 24 | 33.7% | 16.8% |
| Q4 25 | 22.5% | 16.0% | ||
| Q3 25 | 27.9% | 14.5% | ||
| Q2 25 | 28.0% | 14.0% | ||
| Q1 25 | 26.8% | 15.1% | ||
| Q4 24 | 21.8% | 15.6% | ||
| Q3 24 | 25.8% | 15.9% | ||
| Q2 24 | 30.7% | 15.6% | ||
| Q1 24 | 26.1% | 13.8% |
| Q4 25 | $3.52 | $2.90 | ||
| Q3 25 | $4.14 | $2.59 | ||
| Q2 25 | $4.08 | $2.51 | ||
| Q1 25 | $3.64 | $2.45 | ||
| Q4 24 | $3.04 | $2.45 | ||
| Q3 24 | $3.49 | $2.53 | ||
| Q2 24 | $4.15 | $2.48 | ||
| Q1 24 | $3.33 | $2.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $742.0M | $803.0M |
| Total DebtLower is stronger | $56.4B | $8.8B |
| Stockholders' EquityBook value | $33.5B | $19.4B |
| Total Assets | $300.1B | $41.3B |
| Debt / EquityLower = less leverage | 1.68× | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.0M | $803.0M | ||
| Q3 25 | $1.3B | $565.0M | ||
| Q2 25 | $197.0M | $584.0M | ||
| Q1 25 | $261.0M | $1.9B | ||
| Q4 24 | $221.0M | $2.1B | ||
| Q3 24 | $120.0M | $2.0B | ||
| Q2 24 | $188.0M | $2.8B | ||
| Q1 24 | $69.0M | $2.4B |
| Q4 25 | $56.4B | $8.8B | ||
| Q3 25 | $57.8B | $8.8B | ||
| Q2 25 | $58.2B | $8.8B | ||
| Q1 25 | $51.2B | $7.6B | ||
| Q4 24 | $49.7B | $8.5B | ||
| Q3 24 | $53.5B | $8.7B | ||
| Q2 24 | $51.5B | $8.6B | ||
| Q1 24 | $48.8B | $8.2B |
| Q4 25 | $33.5B | $19.4B | ||
| Q3 25 | $32.4B | $18.8B | ||
| Q2 25 | $32.3B | $18.6B | ||
| Q1 25 | $31.2B | $18.5B | ||
| Q4 24 | $30.3B | $18.5B | ||
| Q3 24 | $29.7B | $19.1B | ||
| Q2 24 | $29.5B | $19.2B | ||
| Q1 24 | $28.8B | $19.3B |
| Q4 25 | $300.1B | $41.3B | ||
| Q3 25 | $297.6B | $40.6B | ||
| Q2 25 | $295.6B | $40.5B | ||
| Q1 25 | $282.2B | $39.2B | ||
| Q4 24 | $271.5B | $38.4B | ||
| Q3 24 | $271.0B | $39.2B | ||
| Q2 24 | $272.2B | $39.4B | ||
| Q1 24 | $269.3B | $38.5B |
| Q4 25 | 1.68× | 0.45× | ||
| Q3 25 | 1.78× | 0.46× | ||
| Q2 25 | 1.80× | 0.47× | ||
| Q1 25 | 1.64× | 0.41× | ||
| Q4 24 | 1.64× | 0.46× | ||
| Q3 24 | 1.80× | 0.45× | ||
| Q2 24 | 1.74× | 0.45× | ||
| Q1 24 | 1.70× | 0.42× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.1B | $2.0B |
| Free Cash FlowOCF − Capex | $2.3B | $1.6B |
| FCF MarginFCF / Revenue | 21.4% | 22.3% |
| Capex IntensityCapex / Revenue | 6.6% | 5.6% |
| Cash ConversionOCF / Net Profit | 1.25× | 1.74× |
| TTM Free Cash FlowTrailing 4 quarters | $16.0B | $3.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.1B | $2.0B | ||
| Q3 25 | $6.2B | $1.4B | ||
| Q2 25 | $4.4B | $918.0M | ||
| Q1 25 | $4.8B | $238.0M | ||
| Q4 24 | $5.8B | $1.6B | ||
| Q3 24 | $-1.8B | $1.3B | ||
| Q2 24 | $4.5B | $946.0M | ||
| Q1 24 | $5.6B | $475.0M |
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $5.6B | $1.2B | ||
| Q2 25 | $3.7B | $716.0M | ||
| Q1 25 | $4.3B | $91.0M | ||
| Q4 24 | $5.3B | $1.3B | ||
| Q3 24 | $-2.3B | $1.1B | ||
| Q2 24 | $4.0B | $759.0M | ||
| Q1 24 | $5.2B | $292.0M |
| Q4 25 | 21.4% | 22.3% | ||
| Q3 25 | 53.6% | 16.8% | ||
| Q2 25 | 36.3% | 10.2% | ||
| Q1 25 | 45.0% | 1.4% | ||
| Q4 24 | 53.1% | 21.5% | ||
| Q3 24 | -23.3% | 17.7% | ||
| Q2 24 | 40.4% | 12.0% | ||
| Q1 24 | 55.2% | 4.9% |
| Q4 25 | 6.6% | 5.6% | ||
| Q3 25 | 6.3% | 2.5% | ||
| Q2 25 | 6.0% | 2.9% | ||
| Q1 25 | 4.5% | 2.3% | ||
| Q4 24 | 5.0% | 4.1% | ||
| Q3 24 | 4.7% | 2.9% | ||
| Q2 24 | 5.8% | 2.9% | ||
| Q1 24 | 4.2% | 3.1% |
| Q4 25 | 1.25× | 1.74× | ||
| Q3 25 | 2.15× | 1.34× | ||
| Q2 25 | 1.51× | 0.93× | ||
| Q1 25 | 1.84× | 0.25× | ||
| Q4 24 | 2.66× | 1.64× | ||
| Q3 24 | -0.72× | 1.30× | ||
| Q2 24 | 1.50× | 0.95× | ||
| Q1 24 | 2.28× | 0.58× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
| US Consumer Services Segment | $4.2B | 38% |
| Commercial Services Segment | $3.1B | 28% |
| International Card Services Segment | $2.1B | 19% |
| Global Merchant And Network Services Segment | $1.7B | 15% |
| Financial Service Other | $471.0M | 4% |
ETN
| Other | $1.8B | 26% |
| Electrical Global Segment | $1.7B | 24% |
| Aerospace Segment | $1.1B | 16% |
| Vehicle Segment | $586.0M | 8% |
| Original Equipment Manufacturers | $438.0M | 6% |
| Aftermarket Distribution And End User | $403.0M | 6% |
| Commercial | $341.0M | 5% |
| Industrialand Other | $269.0M | 4% |
| Passenger And Light Duty | $244.0M | 3% |
| E Mobility Segment | $124.0M | 2% |
