Eaton Corporation
ETNQ4 2024(ETN Q3 FY2024)Estimated4.5% AI
AI Revenue %
4.5%
AI Fair Value
$3.5B
AI Revenue (Q)
$285.5M
Total Revenue (Q)
$6.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Electrical Americas ($2,963M) and Electrical Global ($1,573M) totaled $4,536M of $6,345M total revenue (71.5%). Systems revenue in Electrical Americas was $2,169M, up 17% YoY, continuing strong trajectory driven by data center orders. Total 9-month Systems revenue $6,258M vs $5,205M prior year (+20%). Data center becoming a larger share of Electrical as hyperscaler AI capex surges. Estimate: ~19% of Electrical to data centers = ~$862M; ~33% AI-attributable = ~$284M. Conservative given not all data center power serves AI workloads.
Analyzed by claude-opus-4-6
Quoted Figures
Electrical Americas: Products $794M, Systems $2,169M, Total $2,963M
10-Q Note 3, Q3 2024
Electrical Global: Products $879M, Systems $694M, Total $1,573M
10-Q Note 3, Q3 2024
Nine months Electrical Americas Systems: $6,258M (2024) vs $5,205M (2023)
10-Q Note 3, Q3 2024
AI Products Identified (Ring 1)
UPS systems for data centersrack power distribution unitsswitchgearbusway systemsthree-phase power qualitypower distribution assemblies
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
commercial building electricalindustrial power distributionutility equipmentresidential electrical products
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix