ETN vs. PANW
ETN (Eaton Corporation plc) and PANW (Palo Alto Networks, Inc.) are both stocks. ETN operates in Specialty Industrial Machinery (Industrials), while PANW operates in Software - Infrastructure (Technology). Over the past 10 years, ETN returned 23.50%/yr vs 28.39%/yr for PANW. At a 0.28 correlation, their price movements are largely independent.
Performance
ETN vs. PANW - Performance Comparison
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Returns By Period
In the year-to-date period, ETN achieves a 27.32% return, which is significantly lower than PANW's 44.59% return. Over the past 10 years, ETN has underperformed PANW with an annualized return of 23.50%, while PANW has yielded a comparatively higher 28.39% annualized return.
ETN
- 1D
- 1.82%
- 1M
- 0.41%
- YTD
- 27.32%
- 6M
- 18.09%
- 1Y
- 23.03%
- 3Y*
- 30.80%
- 5Y*
- 24.42%
- 10Y*
- 23.50%
PANW
- 1D
- -2.10%
- 1M
- 28.12%
- YTD
- 44.59%
- 6M
- 36.33%
- 1Y
- 33.43%
- 3Y*
- 34.26%
- 5Y*
- 35.30%
- 10Y*
- 28.39%
ETN vs. PANW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 27.32% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
PANW Palo Alto Networks, Inc. | 44.59% | 1.23% | 23.41% | 111.32% | -24.81% | 56.66% | 53.68% | 22.78% | 29.95% | 15.91% |
Correlation
The correlation between ETN and PANW is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012 | 0.28 |
Over the past year, the correlation between ETN and PANW has dropped to 0.07 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
Fundamentals
ETN:
$156.90B
PANW:
$198.15B
ETN:
$10.22
PANW:
$1.17
ETN:
39.43
PANW:
227.13
ETN:
2.14
PANW:
0.02
ETN:
5.52
PANW:
18.05
ETN:
7.94
PANW:
7.16
ETN:
$28.52B
PANW:
$10.61B
ETN:
$7.87B
PANW:
$7.63B
ETN:
$4.75B
PANW:
$1.33B
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Return for Risk
ETN vs. PANW — Risk / Return Rank
ETN
PANW
ETN vs. PANW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Corporation plc (ETN) and Palo Alto Networks, Inc. (PANW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ETN | PANW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.18 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 0.93 | +0.28 |
| Martin ratioReturn relative to average drawdown | 2.63 | 2.12 | +0.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETN | PANW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.87 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.85 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.74 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.71 | -0.29 |
Drawdowns
ETN vs. PANW - Drawdown Comparison
The maximum ETN drawdown since its inception was -68.95%, which is greater than PANW's maximum drawdown of -47.98%. Use the drawdown chart below to compare losses from any high point for ETN and PANW.
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Drawdown Indicators
| ETN | PANW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.95% | -47.98% | -20.97% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -36.01% | +16.87% |
Max Drawdown (3Y)Largest decline over 3 years | -34.46% | -36.01% | +1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -36.01% | +1.55% |
Max Drawdown (10Y)Largest decline over 10 years | -44.55% | -47.98% | +3.43% |
Current DrawdownCurrent decline from peak | -6.64% | -11.37% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -14.90% | -14.69% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.78% | 15.82% | -7.04% |
Volatility
ETN vs. PANW - Volatility Comparison
The current volatility for Eaton Corporation plc (ETN) is 12.39%, while Palo Alto Networks, Inc. (PANW) has a volatility of 17.10%. This indicates that ETN experiences smaller price fluctuations and is considered to be less risky than PANW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETN | PANW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.39% | 17.10% | -4.71% |
Volatility (6M)Calculated over the trailing 6-month period | 25.71% | 31.83% | -6.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.58% | 38.54% | -5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.03% | 41.65% | -11.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.01% | 38.59% | -8.58% |
Dividends
ETN vs. PANW - Dividend Comparison
ETN's dividend yield for the trailing twelve months is around 1.06%, while PANW has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.06% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
PANW Palo Alto Networks, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
ETN vs. PANW - Financials Comparison
This section allows you to compare key financial metrics between Eaton Corporation plc and Palo Alto Networks, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ETN vs. PANW - Profitability Comparison
ETN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a gross profit of 0.00 and revenue of 7.45B. Therefore, the gross margin over that period was 0.0%.
PANW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a gross profit of 2.03B and revenue of 3.00B. Therefore, the gross margin over that period was 67.6%.
ETN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported an operating income of 0.00 and revenue of 7.45B, resulting in an operating margin of 0.0%.
PANW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported an operating income of -186.00M and revenue of 3.00B, resulting in an operating margin of -6.2%.
ETN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a net income of 866.00M and revenue of 7.45B, resulting in a net margin of 11.6%.
PANW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Palo Alto Networks, Inc. reported a net income of -177.00M and revenue of 3.00B, resulting in a net margin of -5.9%.
Frequently Asked Questions
ETN and PANW have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PANW has higher volatility (17.10%) compared to ETN (12.39%). In terms of maximum drawdown, ETN dropped -68.95% vs PANW's -47.98%.
PANW currently has the higher Sharpe Ratio (0.87 vs 0.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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