HON
SP100NasdaqGSHoneywell International Inc.
Industrials · Conglomerates · United States
Honeywell International Inc. engages in the aerospace technologies, industrial automation, building automation, and energy and sustainability solutions businesses in the United States, Europe, and internationally. The Aerospace Technologies segment offers auxiliary power units, propulsion engines, integrated avionics, connectivity services, electric power systems, management and technical services, environmental control systems, engine controls, flight safety products, communications products, navigation hardware, data and software applications, radar and surveillance systems, aircraft lighting, advanced systems and instruments, satellite and space components, and aircraft wheels and brakes. This segment also provides thermal systems; spare parts; and repair, overhaul, and maintenance services. The Industrial Automation segment provides automation control and instrumentation products and services; smart energy products; sensing technologies, including custom-engineered sensors and related services; gas detection technologies and personal protective equipment; and system design automation equipment, as well as software and analytics for manufacturing, distribution, and fulfillment operations. The Building Automation segment provides software applications for building control and optimization; sensors, switches, control systems, and instruments for energy management; access control; video surveillance; fire products; and installation, maintenance, and system upgrade services. The Energy and Sustainability Solutions segment, through its UOP business, delivers licensed process technology, equipment, engineering, catalysts, adsorbents, and services for refining, petrochemicals, low-carbon energy, gas and LNG, and industrial solutions, as well as connectivity, data integration, and software solutions. The company was formerly known as AlliedSignal, Inc. Honeywell International Inc. was founded in 1885 and is headquartered in Charlotte, North Carolina.
www.honeywell.com ↗Shares trade at a moderate 18.3× trailing earnings, easing to 24.3× on forward estimates. Profitability shows a net margin of 10.9% and return on equity of 24.3%. Leverage is elevated at 3.0× net debt/EBITDA. Revenue grew 2.4% year-on-year. It yields 4.1% in dividends. The mean analyst target of USD240.50 sits 4.6% above the current price (Buy, 8 analysts).
business model
Honeywell International is a diversified industrial and technology company that develops and sells products, software, and services across aerospace, building technologies, industrial automation, and energy/sustainability solutions. It earns revenue from equipment sales, aftermarket parts and services, licensing, and recurring software offerings, with a growing emphasis on connected/industrial software.
revenue segments
Honeywell operates through segments including Aerospace Technologies (avionics, engines, aftermarket for commercial and defense aircraft), Building Automation, Industrial Automation (process controls, sensing, productivity/warehouse automation), and Energy & Sustainability Solutions (advanced materials, UOP process technologies). Aerospace is a large, high-margin contributor with substantial aftermarket revenue.
key dependencies
The company depends on commercial and defense aircraft build rates and flight-hour-driven aftermarket demand, industrial capital spending, energy and refining activity, commercial construction, and supply of components and raw materials. It also relies on R&D and its Honeywell Forge/connected software strategy.
competitors
Competitors vary by segment and include GE Aerospace, RTX/Collins, and Safran in aerospace; Emerson, Siemens, Schneider Electric, ABB, and Rockwell Automation in industrial and building automation; and specialty chemical and materials firms in ESS.
moat
Honeywell benefits from large installed bases that generate recurring aftermarket and service revenue, high switching costs in mission-critical controls and avionics, extensive patents and certifications, long-cycle customer relationships, and scale across diversified end markets.
risks
Risks include aerospace cyclicality and OEM production disruptions, sensitivity to global industrial and energy capital spending, supply-chain and input-cost pressures, exposure to defense budget cycles, integration and portfolio-reshaping execution, and competition in software and automation.
Financials & metrics
as of 28 Aug 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $37.44B | $34.72B | $33.01B | $35.47B | — |
| Cost of revenue | $23.61B | $21.36B | $20.64B | $22.35B | — |
| Gross profit | $13.83B | $13.36B | $12.37B | $13.12B | — |
| Operating expense | $7.26B | $6.69B | $6.26B | $6.69B | — |
| R&D | $1.81B | $1.45B | $1.38B | $1.48B | — |
| Operating income | $6.57B | $6.67B | $6.11B | $6.43B | — |
| Interest expense | $1.34B | $1.05B | $749.00M | $414.00M | — |
| Pretax income | $5.48B | $6.24B | $6.19B | $6.38B | — |
| Tax provision | $1.01B | $1.25B | $1.26B | $1.41B | — |
| Net income | $4.73B | $5.71B | $5.66B | $4.97B | — |
| EBITDA | $8.21B | $8.44B | $7.94B | $8.00B | — |
| Diluted EPS | $14.72 | $17.42 | $16.94 | $14.54 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $73.68B | $75.20B | $61.52B | $62.27B | — |
| Current assets | $30.39B | $27.91B | $23.50B | $24.98B | — |
| Cash & equivalents | $12.49B | $9.91B | $7.92B | $9.63B | — |
| Inventory | $6.16B | $5.88B | $6.18B | $5.54B | — |
| Total liabilities | $58.65B | $56.03B | $45.08B | $44.95B | — |
| Current liabilities | $23.41B | $21.26B | $18.54B | $19.94B | — |
| Total debt | $35.56B | $32.08B | $21.54B | $20.54B | — |
| Long-term debt | $27.14B | $25.44B | $16.56B | $15.12B | — |
| Shareholders' equity | $13.90B | $18.62B | $15.86B | $16.70B | — |
| Retained earnings | $50.96B | $50.84B | $47.98B | $45.09B | — |
| Working capital | $6.97B | $6.65B | $4.96B | $5.04B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $6.41B | $6.10B | $5.34B | $5.27B | — |
| Investing cash flow | -$2.71B | -$10.16B | -$1.29B | -$93.00M | — |
| Financing cash flow | -$1.95B | $6.84B | -$5.76B | -$6.33B | — |
| Capital expenditure | -$986.00M | -$871.00M | -$741.00M | -$766.00M | — |
| Free cash flow | $5.42B | $5.23B | $4.60B | $4.51B | — |
| Dividends paid | -$2.98B | -$2.90B | -$2.85B | -$2.72B | — |
| Share buybacks | -$3.80B | -$1.66B | -$3.71B | -$4.20B | — |
| End cash position | $12.49B | $10.57B | $7.92B | $9.63B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 27 Aug 2026News
Sector peers
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