Honeywell (HON)
Industrials · $65.4B market cap · SEC CIK 0000773840
$211.85
▲+2.60% on the day
close of Sep 22, 2026
55
Mixed
fundamentals score out of 100
fundamentals score out of 100
Next reports on Oct 21, 2026, with analysts expecting $2.19 in earnings per share.
The case for HON
- Cheap on earnings at 7.6×, well under the market's usual 20×.
- Earns 54% back on shareholder equity.
- 22% of revenue drops through to net profit.
- Free cash flow of 8.3% of its market value a year: a lot of cash for the price.
- Earnings per share up 169.7%.
- Pays a modest 2.2% dividend.
The case against
- Down 47.7% over the past year.
- Revenue was flat on the year (-0.1%).
- Near the bottom of its 52-week range, 57% below the high. Falling prices usually have a reason; find it first.
- Stability is weak (36/100): beta 0.92, 4.5 years of cash flow to clear its debt, a 60% swing over the year.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 87 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 46 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 82 |
| Momentumhow the price has behaved lately | 6 |
| Stabilityhow violently it moves, what it owes and what it pays you | 36 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 7.6× |
|---|---|
| Price / book | 3.83× |
| Price / sales | 1.7× |
| Revenue growth (YoY) | -0.1% |
| EPS growth (YoY) | +169.7% |
| Gross margin | 36% |
| Operating margin | 29% |
| Net margin | 22% |
| Return on equity | 54% |
| Debt / equity | 1.83× |
| Current ratio | 1.21 |
| Dividend yield | 2.23% |
| Beta | 0.92 |
| 52-week range | $196.98 – $496.36 |
| Position in that range | 5% of the way up |
| 3-month return | -54.9% |
| 1-year return | -47.7% |
Five years of financials, as filed
Pulled from Honeywell's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $37.4B | $34.7B | $33.0B | $35.5B | $34.4B |
| Operating income | $8.1B | $7.7B | $7.6B | $8.0B | — |
| Net income | $4.7B | $5.7B | $5.7B | $5.0B | $5.5B |
| Operating cash flow | $6.4B | $6.1B | $5.3B | $5.3B | $6.0B |
| Capital expenditure | $986M | $871M | $741M | $766M | $895M |
| Total assets | $73.7B | $75.2B | $61.5B | $62.3B | $64.5B |
| Shareholder equity | $13.9B | $18.6B | $15.9B | $16.7B | $18.6B |
| Cash | $12.5B | $9.9B | $7.9B | $9.6B | $11.0B |
| Long-term debt | $28.7B | $26.8B | $18.4B | $16.9B | $16.1B |
| Free cash flow | $5.4B | $5.2B | $4.6B | $4.5B | $5.1B |
| Operating margin | 21.7% | 22.1% | 22.9% | 22.6% | — |
| Net margin | 12.6% | 16.4% | 17.1% | 14.0% | 16.1% |
| Diluted shares | 643M | 655M | 668M | 683M | 700M |
Share count is down 8.2% over 4 years. Buybacks have been shrinking the pie.
Risk factors HON lists in its 10-K
- 2025 Full-year revenue of $17,510 million
- Commercial Aviation Original Equipment
- 2025 Full-year revenue of $9,401 million
- Productivity Solutions and Services
- 2025 Full-year revenue of $7,367 million
- 2025 Full-year revenue of $3,134 million
- U.S. government sales ($ in millions)
- Manufactured products and systems and performance of services
- Energy and Sustainability Solutions
- (Dollars in tables and graphs in millions, except per share amounts)
- Total research and development costs
- Selling, General and Administrative Expenses
- Interest and Other Financial Charges
- 2025 compared with U.S. Statutory Rate