Eaton Corporation
ETNQ1 2025(ETN Q4 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$4.0B
AI Revenue (Q)
$312.0M
Total Revenue (Q)
$6.2B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Full year 2024 revenue was nearly $25B. Electrical segments represent ~71% = ~$17.75B. 10-K explicitly lists 'data centers' first among principal markets, elevated from mid-list in prior years. The segment description now reads 'data centers, utilities, industrial and energy facilities, commercial buildings' -- data centers moved to the front. Data center demand strongly driven by AI infrastructure. Estimate: ~20% of Electrical to data centers = ~$3,550M; ~35% AI-attributable = ~$1,243M = ~5.0% of total. This represents the acceleration in AI data center buildout through 2024 as major hyperscalers committed $150B+ in collective AI capex.
Analyzed by claude-opus-4-6
Quoted Figures
With revenues of nearly $25 billion in 2024, the Company serves customers in more than 160 countries
10-K Item 1, FY2024
Products used wherever there is a demand for electrical power in data centers, utilities, industrial and energy facilities, commercial buildings, apartment and office buildings, hospitals, factories, and residencies
10-K Note 19 Segment Description, FY2024
We are strengthening our participation across the entire electrical power value chain and benefiting from momentum in the data center and utility end markets
10-K Item 1, FY2024
Eaton has approximately 94,000 employees globally
10-K Item 1, FY2024
AI Products Identified (Ring 1)
UPS systems for data centersrack power distribution unitsswitchgearbusway systemsthree-phase power qualitypower distribution assembliespower reliability equipment
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