CEG vs. ETN: Constellation Energy vs. Eaton Stock Comparison

November 11, 2026

How do Constellation Energy (CEG) and Eaton (ETN) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Constellation Energy (CEG) is classified in the Utilities sector (Utilities), whereas Eaton (ETN) belongs to Industrials (Capital Goods) — their GICS classifications point to very different parts of the market.

Eaton (ETN) has more than two decades of public-market history since June 1, 1972, whereas Constellation Energy (CEG) listed on January 19, 2022 and has a much shorter record to draw on.

Company profile comparison for Constellation Energy (CEG) and Eaton (ETN)
Profile Item	CEG	ETN
Name	Constellation Energy Corporation	Eaton Corporation plc
Country/Region	United States	Ireland
GICS Sector	Utilities	Industrials
GICS Industry Group	Utilities	Capital Goods
GICS Industry	Electric Utilities	Electrical Equipment
GICS Sub-Industry	Electric Utilities	Electrical Components & Equipment
Market Capitalization	88.56 billion USD	132.76 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	January 19, 2022	June 1, 1972
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

CEG

ETN

GSPC

Constellation Energy (CEG) vs. Eaton (ETN), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Constellation Energy (CEG) and Eaton (ETN). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Constellation Energy (CEG) and Eaton (ETN). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Total Return (1Y)	-23.27%	-2.33%
Total Return (3Y, Annualized)	32.21%	19.68%
Total Return (5Y, Annualized)	--	17.50%

Risk Profile

Drawdown History

CEG

ETN

GSPC

Constellation Energy (CEG) vs. Eaton (ETN), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Constellation Energy (CEG) and Eaton (ETN). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Volatility (1Y, Annualized)	49.44%	43.57%
Beta (5Y)	1.11	1.14
Max Drawdown (5Y)	-50.70%	-34.46%
Avg. Volume (3M)	3.37M	2.32M

Risk-Adjusted Performance

Risk-Return Positioning

CEG and ETN are plotted by 1-year volatility (risk) and 1-year return. Each dashed Capital Allocation Line uses that stock's own industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Sharpe Ratio (1Y)	-0.56	-0.15
Sortino Ratio (1Y)	-0.78	-0.21

Profitability

ROE (TTM)

Both Constellation Energy (CEG) at 15.06% and Eaton (ETN) at 19.55% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

CEG

Utilities industry group

15.06%

Max: 17.99%
CEG: 15.06%
Q3: 12.01%
Median: 9.44%
Q1: 7.56%
Min: 2.17%

ETN

Capital Goods industry group

19.55%

Max: 40.55%
ETN: 19.55%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their ROE against their respective Utilities and Capital Goods industry group benchmarks.

Net Margin (TTM)

Eaton (ETN) at 12.18% retains a top-quartile share of revenue as profit, ahead of Constellation Energy (CEG) at 11.08%, which keeps about the industry-typical share.

CEG

Utilities industry group

11.08%

Max: 28.78%
Q3: 17.30%
Median: 12.73%
CEG: 11.08%
Q1: 9.18%
Min: -0.20%

ETN

Capital Goods industry group

12.18%

Max: 27.47%
ETN: 12.18%
Q3: 12.10%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their net margin against their respective Utilities and Capital Goods industry group benchmarks.

Operating Margin (TTM)

Eaton (ETN) at 17.85% runs core operations around its industry’s norm, while Constellation Energy (CEG) at 8.66% operates in the bottom quartile.

CEG

Utilities industry group

8.66%

Max: 53.83%
Q3: 31.12%
Median: 23.62%
Q1: 15.45%
CEG: 8.66%
Min: -4.90%

ETN

Capital Goods industry group

17.85%

Max: 36.60%
Q3: 18.33%
ETN: 17.85%
Median: 11.12%
Q1: 5.14%
Min: -12.63%

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their operating margin against their respective Utilities and Capital Goods industry group benchmarks.

Profitability Metrics

Profitability metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
ROE (TTM)	15.06%	19.55%
ROA (TTM)	3.89%	7.22%
Net Margin (TTM)	11.08%	12.18%
Operating Margin (TTM)	8.66%	17.85%
Gross Margin (TTM)	22.11%	35.16%

Growth

Revenue Growth

Both Constellation Energy (CEG) at 8.34% and Eaton (ETN) at 10.33% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their Revenue Growth across different time periods.

EPS Growth

Eaton (ETN) at 10.00% is around its peer norm for EPS growth, while Constellation Energy (CEG) at -37.76% drops into the bottom quartile, signaling weaker earnings momentum.

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Revenue Growth (YoY)	8.34%	10.33%
Revenue Growth (3Y CAGR)	1.47%	9.77%
EPS Growth (YoY)	-37.76%	10.00%
EPS Growth (3Y CAGR)	--	19.39%

Financial Strength

Current Ratio (MRQ)

Constellation Energy (CEG) at 1.46 carries current ratio above its industry’s typical mid-range, while Eaton (ETN) at 1.23 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

CEG

Utilities industry group

1.46

Max: 1.90
CEG: 1.46
Q3: 1.17
Median: 0.88
Q1: 0.66
Min: 0.29

ETN

Capital Goods industry group

1.23

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
ETN: 1.23
Min: 0.36

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their current ratio against their respective Utilities and Capital Goods industry group benchmarks.

Debt / Equity (MRQ)

Constellation Energy (CEG) at 0.76 keeps leverage in the lower industry quartile, while Eaton (ETN) at 1.00 runs a more typical debt-to-equity mix.

CEG

Utilities industry group

0.76

Max: 2.63
Q3: 1.77
Median: 1.35
Q1: 0.84
CEG: 0.76
Min: 0.00

ETN

Capital Goods industry group

1.00

Max: 2.33
Q3: 1.12
ETN: 1.00
Median: 0.60
Q1: 0.29
Min: 0.00

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their debt-to-equity ratio against their respective Utilities and Capital Goods industry group benchmarks.

Financial Strength Metrics

Financial strength metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Current Ratio (MRQ)	1.46	1.23
Debt / Equity (MRQ)	0.76	1.00
Net Debt / EBITDA	3.02	2.85

Dividends

Dividend Yield (TTM)

Eaton (ETN) at 1.33% delivers top-quartile income for its industry, while Constellation Energy (CEG) at 0.68% pays a more typical yield — both are credible income propositions, ETN the richer one.

CEG

Utilities industry group

0.68%

Max: 6.66%
Q3: 3.58%
Median: 2.85%
CEG: 0.68%
Q1: 0.66%
Min: 0.00%

ETN

Capital Goods industry group

1.33%

Max: 2.66%
ETN: 1.33%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their dividend yield against their respective Utilities and Capital Goods industry group benchmarks.

Dividend Payout Ratio (TTM)

Constellation Energy (CEG) at 15.92% retains more earnings than its industry usually does; Eaton (ETN) at 43.36% distributes an above-typical share — opposite departures from the band, with the risk sitting on ETN’s side.

CEG

Utilities industry group

15.92%

Max: 113.04%
Q3: 68.72%
Median: 56.38%
Q1: 32.38%
CEG: 15.92%
Min: 0.00%

ETN

Capital Goods industry group

43.36%

Max: 67.39%
ETN: 43.36%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their payout ratio against their respective Utilities and Capital Goods industry group benchmarks.

Dividend Metrics

Dividend metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
Dividend Yield (TTM)	0.68%	1.33%
Dividend Payout Ratio (TTM)	15.92%	43.36%

Valuation

P/E Ratio (TTM)

Eaton (ETN) at 34.14 is near its industry’s usual P/E ratio, while Constellation Energy (CEG) at 24.43 sits in the richer quartile — CEG needs stronger growth or earnings quality to justify the premium.

CEG

Utilities industry group

24.43

Max: 31.22
CEG: 24.43
Q3: 23.30
Median: 19.64
Q1: 15.17
Min: 3.34

ETN

Capital Goods industry group

34.14

Max: 59.38
Q3: 35.92
ETN: 34.14
Median: 25.41
Q1: 19.47
Min: 3.03

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their P/E ratio against their respective Utilities and Capital Goods industry group benchmarks.

P/S Ratio (TTM)

Constellation Energy (CEG) at 2.83 is priced about in line with its industry on P/S ratio, while Eaton (ETN) at 4.15 sits in the pricier quartile — ETN costs more per dollar of sales.

CEG

Utilities industry group

2.83

Max: 6.35
Q3: 3.63
CEG: 2.83
Median: 2.63
Q1: 1.52
Min: 0.00

ETN

Capital Goods industry group

4.15

Max: 7.54
ETN: 4.15
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their P/S ratio against their respective Utilities and Capital Goods industry group benchmarks.

P/B Ratio (MRQ)

Both Constellation Energy (CEG) at 2.78 and Eaton (ETN) at 6.33 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

CEG

Utilities industry group

2.78

Max: 3.12
CEG: 2.78
Q3: 2.21
Median: 1.83
Q1: 1.46
Min: 0.34

ETN

Capital Goods industry group

6.33

Max: 9.66
ETN: 6.33
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Constellation Energy (CEG) vs. Eaton (ETN): A comparison of their P/B ratio against their respective Utilities and Capital Goods industry group benchmarks.

Valuation Metrics

Valuation metrics for Constellation Energy (CEG) and Eaton (ETN)
Metric	CEG	ETN
P/E Ratio (TTM)	24.43	34.14
P/S Ratio (TTM)	2.83	4.15
P/B Ratio (MRQ)	2.78	6.33
Free Cash Flow Yield (TTM)	-7.48%	2.29%