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Eaton vs Liqtech International: revenue, profit, margins and growth compared

Eaton brought in $27.4B of revenue in fiscal 2025, Liqtech International $16.5M in fiscal 2025. Revenue changed by +10.3% at Eaton and +13.0% at Liqtech International on the year before, so Liqtech International grew faster. Eaton kept 14.9% of its revenue as net profit, Liqtech International -51.7%. Free cash flow was $3.6B at Eaton and -$6.5M at Liqtech International.

Side by side, latest fiscal year

ETNLIQT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$27.4B$16.5M
Revenue growth+10.3%+13.0%
Net income$4.1B-$8.5M
Net margin14.9%-51.7%
Free cash flow$3.6B-$6.5M
Free cash flow margin12.9%-39.4%
Earnings per share (diluted)$10.45-$0.89
Cash$622M$5.1M
Debt$9.9Bn/a
Price to earnings42.1n/a
Market value$170.9B$20.2M
Dividend yield0.95%n/a
Rank by revenue in sector#29 of 638 · Technology#525 of 638 · Technology

Over the years

Revenue
ETN FY2018: $21.6BETN FY2019: $21.4BETN FY2020: $17.9BETN FY2021: $19.6BETN FY2022: $20.8BETN FY2023: $23.2BETN FY2024: $24.9BETN FY2025: $27.4BLIQT FY2018: $12.2MLIQT FY2019: $32.6MLIQT FY2020: $22.5MLIQT FY2021: $18.3MLIQT FY2022: $16MLIQT FY2023: $18MLIQT FY2024: $14.6MLIQT FY2025: $16.5MFY18FY19FY20FY21FY22FY23FY24FY25
ETN $27.4BLIQT $16.5M
Net income
ETN FY2018: $2.1BETN FY2019: $2.2BETN FY2020: $1.4BETN FY2021: $2.1BETN FY2022: $2.5BETN FY2023: $3.2BETN FY2024: $3.8BETN FY2025: $4.1BLIQT FY2018: -$3.8MLIQT FY2019: $39.6KLIQT FY2020: -$9.8MLIQT FY2021: -$11.1MLIQT FY2022: -$14.2MLIQT FY2023: -$8.6MLIQT FY2024: -$10.3MLIQT FY2025: -$8.5MFY18FY19FY20FY21FY22FY23FY24FY25
ETN $4.1BLIQT -$8.5M
Net margin
ETN FY2018: 9.9%ETN FY2019: 10.3%ETN FY2020: 7.9%ETN FY2021: 10.9%ETN FY2022: 11.9%ETN FY2023: 13.9%ETN FY2024: 15.3%ETN FY2025: 14.9%LIQT FY2018: -31.2%LIQT FY2019: 0.1%LIQT FY2020: -43.5%LIQT FY2021: -60.9%LIQT FY2022: -88.7%LIQT FY2023: -47.6%LIQT FY2024: -70.8%LIQT FY2025: -51.7%FY18FY19FY20FY21FY22FY23FY24FY25
ETN 14.9%LIQT -51.7%
Revenue growth
ETN FY2019: -1.0%ETN FY2020: -16.5%ETN FY2021: +9.9%ETN FY2022: +5.7%ETN FY2023: +11.8%ETN FY2024: +7.3%ETN FY2025: +10.3%LIQT FY2019: +166.8%LIQT FY2020: -31.0%LIQT FY2021: -18.9%LIQT FY2022: -12.5%LIQT FY2023: +12.6%LIQT FY2024: -18.9%LIQT FY2025: +13.0%FY19FY20FY21FY22FY23FY24FY25
ETN +10.3%LIQT +13.0%
Free cash flow
ETN FY2018: $2.1BETN FY2019: $2.9BETN FY2020: $2.6BETN FY2021: $1.6BETN FY2022: $1.9BETN FY2023: $2.9BETN FY2024: $3.5BETN FY2025: $3.6BLIQT FY2018: -$4.1MLIQT FY2019: -$7.1MLIQT FY2020: -$6.4MLIQT FY2021: -$8.3MLIQT FY2022: -$13.7MLIQT FY2023: -$7.1MLIQT FY2024: -$8.9MLIQT FY2025: -$6.5MFY18FY19FY20FY21FY22FY23FY24FY25
ETN $3.6BLIQT -$6.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Eaton and Liqtech International

Which is bigger by revenue, Eaton or Liqtech International?

Eaton is bigger by revenue: $27.4B in fiscal 2025, against $16.5M for Liqtech International in fiscal 2025.

Which keeps more of its revenue as profit, Eaton or Liqtech International?

Eaton had a net margin of 14.9% in fiscal 2025; Liqtech International had -51.7% in fiscal 2025.

Which grew revenue faster, Eaton or Liqtech International?

In their latest fiscal years revenue changed by +10.3% at Eaton and +13.0% at Liqtech International.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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