Eaton (ETN) FY2021 results: revenue $19.6 billion, up 9.9% on the year
Eaton Corp. plc (ETN) reported revenue of $19.6 billion for fiscal 2021, the year ended 31 December 2021, up 9.9% on the year before. Net income was $2.1 billion, up 52.1%, and diluted earnings per share $5.34. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2022.
Revenue
$19.6 billion
+9.9% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$2.1 billion
+52.1% on the year
FY2014FY2021
Diluted EPS
$5.34
+53.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,163
2,944
3,451
-26.5%
Capital expenditure
575
389
587
+47.8%
Free cash flow
1,588
2,555
2,864
-37.8%
Free cash flow margin
8.1%
14.3%
13.4%
Cash from investing
-1,764
397
-1,866
Cash from financing
-535
-3,258
-1,494
Depreciation and amortisation
922
811
884
+13.7%
Share-based compensation
n/a
n/a
9.0
Buybacks
122
1,608
1,029
-92.4%
Dividends paid
1,219
1,175
1,201
+3.7%
Dividend per share
$3.04
$2.92
$2.84
+4.1%
Diluted shares, weighted
402m
404m
421m
-0.6%
Shares outstanding at period end
399m
398m
413m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
16,413
14,930
16,082
+9.9%
Non-controlling interest
38.0
43.0
51.0
-11.6%
Short-term borrowings
13.0
1.0
n/a
+1,200.0%
Debt
8,566
8,057
8,322
+6.3%
Operating lease liabilities
337
326
331
+3.4%
Finance lease liabilities
23.0
30.0
21.0
-23.3%
Other liabilities
8,637
8,437
7,998
+2.4%
Total liabilities and equity
34,027
31,824
32,805
+6.9%
Fixed assets
3,064
2,964
3,496
+3.4%
Goodwill
14,751
12,903
13,456
+14.3%
Intangible assets
5,855
4,175
4,638
+40.2%
Investments
271
664
221
-59.2%
Cash and equivalents
297
438
370
-32.2%
Receivables
3,297
2,904
3,437
+13.5%
Inventory
2,969
2,109
2,805
+40.8%
Other assets
3,523
5,667
4,382
-37.8%
Total assets
34,027
31,824
32,805
+6.9%
10-K for the year ended 31 December 2021, filed 23 February 2022: the filing.