vs
Side-by-side financial comparison of Eaton Corporation (ETN) and REINSURANCE GROUP OF AMERICA INC (RGA). Click either name above to swap in a different company.
Eaton Corporation is the larger business by last-quarter revenue ($7.1B vs $6.6B, roughly 1.1× REINSURANCE GROUP OF AMERICA INC). Eaton Corporation runs the higher net margin — 16.0% vs 7.0%, a 9.1% gap on every dollar of revenue. On growth, REINSURANCE GROUP OF AMERICA INC posted the faster year-over-year revenue change (26.6% vs 13.1%). Over the past eight quarters, Eaton Corporation's revenue compounded faster (9.0% CAGR vs 2.3%).
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.
Reinsurance Group of America, Incorporated is a holding company for a global life and health reinsurance entity based in Greater St. Louis within the western suburb of Chesterfield, Missouri, United States. With approximately $3.9 trillion of life reinsurance in force and assets of $118.7 billion as of December 31, 2024, RGA has grown to become the only international company to focus primarily on life and health-related reinsurance.
ETN vs RGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1B | $6.6B |
| Net Profit | $1.1B | $463.0M |
| Gross Margin | 36.8% | — |
| Operating Margin | 18.3% | 7.7% |
| Net Margin | 16.0% | 7.0% |
| Revenue YoY | 13.1% | 26.6% |
| Net Profit YoY | 16.5% | 212.8% |
| EPS (diluted) | $2.90 | $6.91 |
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 | $7.1B | $6.6B | ||
| Q3 25 | $7.0B | $6.2B | ||
| Q2 25 | $7.0B | $5.6B | ||
| Q1 25 | $6.4B | $5.3B | ||
| Q4 24 | $6.2B | $5.2B | ||
| Q3 24 | $6.3B | $5.7B | ||
| Q2 24 | $6.3B | $4.9B | ||
| Q1 24 | $5.9B | $6.3B |
| Q4 25 | $1.1B | $463.0M | ||
| Q3 25 | $1.0B | $253.0M | ||
| Q2 25 | $982.0M | $180.0M | ||
| Q1 25 | $964.0M | $286.0M | ||
| Q4 24 | $971.0M | $148.0M | ||
| Q3 24 | $1.0B | $156.0M | ||
| Q2 24 | $993.0M | $203.0M | ||
| Q1 24 | $821.0M | $210.0M |
| 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 | 18.3% | 7.7% | ||
| Q3 25 | 18.2% | 5.2% | ||
| Q2 25 | 16.9% | 6.1% | ||
| Q1 25 | 18.5% | 7.0% | ||
| Q4 24 | 18.7% | 4.3% | ||
| Q3 24 | 19.0% | 3.8% | ||
| Q2 24 | 18.8% | 5.5% | ||
| Q1 24 | 16.8% | 4.3% |
| Q4 25 | 16.0% | 7.0% | ||
| Q3 25 | 14.5% | 4.1% | ||
| Q2 25 | 14.0% | 3.2% | ||
| Q1 25 | 15.1% | 5.4% | ||
| Q4 24 | 15.6% | 2.8% | ||
| Q3 24 | 15.9% | 2.8% | ||
| Q2 24 | 15.6% | 4.2% | ||
| Q1 24 | 13.8% | 3.3% |
| Q4 25 | $2.90 | $6.91 | ||
| Q3 25 | $2.59 | $3.81 | ||
| Q2 25 | $2.51 | $2.70 | ||
| Q1 25 | $2.45 | $4.27 | ||
| Q4 24 | $2.45 | $2.21 | ||
| Q3 24 | $2.53 | $2.33 | ||
| Q2 24 | $2.48 | $3.03 | ||
| Q1 24 | $2.04 | $3.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $803.0M | $4.2B |
| Total DebtLower is stronger | $8.8B | $5.7B |
| Stockholders' EquityBook value | $19.4B | $13.5B |
| Total Assets | $41.3B | $156.6B |
| Debt / EquityLower = less leverage | 0.45× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $803.0M | $4.2B | ||
| Q3 25 | $565.0M | $4.6B | ||
| Q2 25 | $584.0M | $5.4B | ||
| Q1 25 | $1.9B | $5.2B | ||
| Q4 24 | $2.1B | $3.3B | ||
| Q3 24 | $2.0B | $5.2B | ||
| Q2 24 | $2.8B | $4.6B | ||
| Q1 24 | $2.4B | $5.9B |
| Q4 25 | $8.8B | $5.7B | ||
| Q3 25 | $8.8B | $5.7B | ||
| Q2 25 | $8.8B | $5.7B | ||
| Q1 25 | $7.6B | $5.7B | ||
| Q4 24 | $8.5B | $5.0B | ||
| Q3 24 | $8.7B | $5.1B | ||
| Q2 24 | $8.6B | $5.1B | ||
| Q1 24 | $8.2B | $4.4B |
| Q4 25 | $19.4B | $13.5B | ||
| Q3 25 | $18.8B | $13.0B | ||
| Q2 25 | $18.6B | $12.1B | ||
| Q1 25 | $18.5B | $11.4B | ||
| Q4 24 | $18.5B | $10.8B | ||
| Q3 24 | $19.1B | $11.1B | ||
| Q2 24 | $19.2B | $9.7B | ||
| Q1 24 | $19.3B | $9.5B |
| Q4 25 | $41.3B | $156.6B | ||
| Q3 25 | $40.6B | $152.0B | ||
| Q2 25 | $40.5B | $133.5B | ||
| Q1 25 | $39.2B | $128.2B | ||
| Q4 24 | $38.4B | $118.7B | ||
| Q3 24 | $39.2B | $120.3B | ||
| Q2 24 | $39.4B | $109.9B | ||
| Q1 24 | $38.5B | $106.0B |
| Q4 25 | 0.45× | 0.42× | ||
| Q3 25 | 0.46× | 0.44× | ||
| Q2 25 | 0.47× | 0.48× | ||
| Q1 25 | 0.41× | 0.50× | ||
| Q4 24 | 0.46× | 0.47× | ||
| Q3 24 | 0.45× | 0.46× | ||
| Q2 24 | 0.45× | 0.52× | ||
| Q1 24 | 0.42× | 0.47× |
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 | $2.0B | $7.3B |
| Free Cash FlowOCF − Capex | $1.6B | — |
| FCF MarginFCF / Revenue | 22.3% | — |
| Capex IntensityCapex / Revenue | 5.6% | — |
| Cash ConversionOCF / Net Profit | 1.74× | 15.83× |
| TTM Free Cash FlowTrailing 4 quarters | $3.6B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.0B | $7.3B | ||
| Q3 25 | $1.4B | $-990.0M | ||
| Q2 25 | $918.0M | $-820.0M | ||
| Q1 25 | $238.0M | $-1.4B | ||
| Q4 24 | $1.6B | $17.1B | ||
| Q3 24 | $1.3B | $-1.1B | ||
| Q2 24 | $946.0M | $-967.0M | ||
| Q1 24 | $475.0M | $-5.7B |
| Q4 25 | $1.6B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $716.0M | — | ||
| Q1 25 | $91.0M | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $759.0M | — | ||
| Q1 24 | $292.0M | — |
| Q4 25 | 22.3% | — | ||
| Q3 25 | 16.8% | — | ||
| Q2 25 | 10.2% | — | ||
| Q1 25 | 1.4% | — | ||
| Q4 24 | 21.5% | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 12.0% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 2.9% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | 1.74× | 15.83× | ||
| Q3 25 | 1.34× | -3.91× | ||
| Q2 25 | 0.93× | -4.56× | ||
| Q1 25 | 0.25× | -5.00× | ||
| Q4 24 | 1.64× | 115.81× | ||
| Q3 24 | 1.30× | -6.84× | ||
| Q2 24 | 0.95× | -4.76× | ||
| Q1 24 | 0.58× | -27.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
RGA
Segment breakdown not available.
