As of Q4'25, ETN's latest gross margin stands at 38.6%, with an operating margin of 19.5% and a net profit margin of 16.1%. This reflects a slight improvement in both operating and net profit margins compared to the previous quarter, while gross margin remains near its recent peak. From Q1'23 to Q4'25, all three margin metrics—gross, operating, and net—have shown a generally upward trend, particularly notable from mid-2023 through 2024. Gross margin increased from 34.4% to a high of 38.9% in Q4'24 before a modest pullback. Operating margin followed a similar trajectory, rising from 14.8% in Q1'23 to around 19.6% by Q3'25. Net profit margin improved from 11.6% in early 2023 to consistently above 15% in late 2024 and 2025, indicating enhanced profitability and operational efficiency over the period.