Honeywell International Inc.HON
NasdaqGS•Industrials•Conglomerates
Honeywell International Inc. engages in the aerospace technologies, industrial automation, building automation, and energy and sustainable solutions businesses in the United States, Europe, and internationally. The company's Aerospace Technologies segment offers auxiliary power units, propulsion engines, integrated avionics, connectivity services, electric power systems, management and technical services, environmental control and electric power systems, engine controls, flight safety, communications, 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; thermal systems; and spare parts; repair, overhaul, and maintenance services. Its Industrial Automation segment provides automation control and instrumentation products and services; smart energy products; sensing technologies with custom-engineered sensors and 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. Its 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 upgrade of systems. The company's 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. Honeywell International Inc. was founded in 1885 and is headquartered in Charlotte, North Carolina.
Honeywell International Inc. (HON) reported trailing twelve months revenue of $36.76B as of March 2026, a 6.3% decline year-over-year. Quarterly revenue reached $9.14B, reflecting a contraction in sales.
Honeywell International Inc. generated $4.10B in TTM net income, with quarterly EBITDA of $2.49B. The operating margin expanded from 23.0% to 23.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (23.3%) and net margin (9.0%) indicates moderate non-operating costs. Net margin has narrowed from 14.8% a year ago, reflecting increased costs or interest expense.
HON trades at a P/E of 34.6x (a premium multiple) and a P/S of 3.9x. The price-to-book ratio of 10.4x indicates a significant premium over book value.
The company reported negative free cash flow of $-873.00M, indicating cash consumption over the period. The balance sheet shows $73.99B in total assets with $32.11B in long-term debt against $13.59B in stockholders equity for a debt-to-equity ratio of 2.4, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~22.1% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 33.3% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins declined 6.5% — watch for continued compression, which may signal competitive or cost pressure.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio of 2.4 is elevated and rising. Monitor for further debt accumulation.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.4% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation