Honeywell (HON) financials

NASDAQ · Industrials · Industrial - Machinery · 101,000 employees · CEO Vimal Kapur

Price: $218.33 -1.72%
Market cap: $69.2B
Enterprise value: $80.1B
Last report: Q3 '26 filed 2026-10-22
Next report: 2027-02-04 EPS est. $2.44

Revenue (TTM)$30.7B-24.5% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)13.3%-5.6 pp vs a year agoOperating income $4.08B

Net income (TTM)$7.05B+15.1% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$1.28B-80.2% vs a year agoCapex $673M

Diluted EPS (TTM)$22.11+16.5% vs a year agoSum of the last 4 quarters

Net cash-$10.4B+56.0% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $69.2B
Revenue: $30.7B
Revenue growth: -46%
Profit margin: 23.0%
P/E: 9.9×
P/S: 2.3×
EV / EBITDA: 7.0×
Free cash flow: $1.28B
Net income: $7.05B
Revenue estimate: $20.1B
Earnings: 2027-02-04
Dividend: $2.80

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-22): revenue in line, EPS beat by 4.6%Revenue $4.99B vs $5.01B expected (-0.3%); EPS $2.27 vs $2.17 (+4.6%).
Revenue growth slowing: -52.0% year on yearQ3 '26 revenue $4.99B, against an average of -9.5% over the four quarters before.
Operating margin 13.3% (TTM), -5.6 pp on a year agoOperating income grew -47.0% while revenue grew -24.5%.
54.2% of pre-tax profit is non-operatingPre-tax income $8.9B vs operating income $4.08B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 2.2% of revenue (a year ago 2.5%)$673M invested in the last 4 quarters (-34.5% on a year earlier). Free cash flow $1.28B = 18.1% of net income.
Returned $3.68B to shareholders = 288.2% of free cash flowBuybacks $1.1B (a year earlier $4.16B), dividends $2.58B, stock-based pay $254M (TTM). More than the free cash flow: paid from cash or debt.
Diluted share count down 0.1% in a year319M diluted shares in Q3 '26, 319M a year earlier.
Net debt $10.4BCash + short-term investments $6.19B, debt incl. leases $16.6B; a year ago net debt $23.7B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$4.99B	$10.4B	-52.0%
Gross margin	40.4%	34.1%	+6.3 pp
Operating income	$740M	$1.75B	-57.8%
Operating margin	14.8%	16.9%	-2.0 pp
Net income	$664M	$1.83B	-63.6%
Diluted EPS	$2.08	$5.72	-63.6%
Operating cash flow	$119M	$3.29B	-96.4%
Capex	$77M	$512M	-85.0%
Free cash flow	$42M	$2.78B	-98.5%
R&D	$239M	$497M	-51.9%
Stock-based compensation	$104M	$40M	+160.0%

Reported vs consensus

2026-10-22

	Actual	Consensus	vs consensus
Revenue	$4.99B	$5.01B	-0.3%
EPS (as estimated)	$2.27	$2.17	+4.6%

From the report of 2026-10-22 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
Aerospace	–	–	–	–	–
Safety And Productivity Solutions	$1.12B	-51.0%	35.6%	–	–
Aerospace Technologies	–	–	–	–	–
Home And Building Technologies	$2.02B	+7.6%	64.4%	–	–
Building Automation	–	–	–	–	–
Energy and Sustainability Solutions	–	–	–	–	–
Process Automation and Technology	–	–	–	–	–
Industrial Automation	–	–	–	–	–
Corporate and All Other	–	–	–	–	–

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q3 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Aerospace Technologies	–	–	–	–	–	–	–
Industrial Automation	–	–	$205M	-5.1%	–	–	$1.75B
Building Automation	–	–	$546M	+8.8%	–	–	$2.12B
Energy And Sustainability Solutions	–	–	–	–	–	–	–
Corporate And Reconciling Items	–	–	-$101M	+58.1%	–	–	-$402M
Process Automation And Technology	–	–	$412M	+5.9%	–	–	–
Aerospace	–	–	–	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $1.95B
Capex: -$673M
Buybacks: -$1.1B
Dividends: -$2.58B
Acquisitions: -$2.4B
Net debt issued: -$20.5B
Stock-based compensation: $254M
Free cash flow: $1.28B
Returned to shareholders / FCF: 288.2%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	9.9×	13.2×	12.2× – 14.4×
EV / EBITDA	7.0×	10.3×	9.2× – 11.2×
EV / Sales	2.6×	2.4×	2.3× – 2.7×
Price / FCF	54.2×	14.1×	12.1× – 15.9×
Price / Book	3.1×	4.1×	3.8× – 4.3×
FCF yield	1.8%	7.1%	6.3% – 8.3%
Return on invested capital	7.5%	9.7%	8.9% – 10.7%
Return on equity	36.2%	31.3%	29.7% – 35.7%

Analysts

Consensus target $256.92 (+17.7%)
range $231.00 – $276.00 · rating Buy

Strong buy0

Buy20

Hold10

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$20.1B	-46.2%	$8.42	-42.8%	25.9×	9
FY2027	$20.4B	+1.5%	$9.86	+17.2%	22.1×	13
FY2028	$21.6B	+5.5%	$11.13	+12.9%	19.6×	9
FY2029	$23B	+6.6%	$12.20	+9.5%	17.9×	3
FY2030	$23.9B	+4.0%	$12.59	+3.2%	17.3×	3

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 353 figures Honeywell International Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	$143M	$263M	-45.6%	–	–	–
Accounts Payable, Current	$3.59B	$7.31B	-50.9%	$6.32B	$6.11B	+3.4%
Accounts Receivable, after Allowance for Credit Loss, Current	$5.09B	$8.92B	-43.0%	$7.62B	$7.25B	+5.2%
Accounts Receivable, Allowance for Credit Loss, Current	$155M	$320M	-51.6%	$202M	$307M	-34.2%
Accrual for Environmental Loss Contingencies	$68M	$981M	-93.1%	$894M	$626M	+42.8%
Accrual for Environmental Loss Contingencies, Charges to Expense for New Losses	-$36M	$265M	-113.6%	$443M	$261M	+69.7%
Accrual for Environmental Loss Contingencies, Payments	-$48M	$39M	-223.1%	$175M	$221M	-20.8%
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)	–	–	–	$02024-12-31	$0	–
Accrual for Taxes Other than Income Taxes, Current	$215M2025-12-31	$252M	-14.7%	$215M	$252M	-14.7%
Accrued Environmental Loss Contingencies, Current	$161M2026-06-30	$240M	-32.9%	$180M	$237M	-24.1%
Accrued Environmental Loss Contingencies, Noncurrent	$731M2026-06-30	$515M	+41.9%	$714M	$389M	+83.5%
Accrued Income Taxes, Current	$791M2025-12-31	$957M	-17.3%	$791M	$957M	-17.3%
Accrued Income Taxes, Noncurrent	$1.52B2025-12-31	$1.42B	+6.7%	$1.52B	$1.42B	+6.7%
Accrued Insurance, Current	$45M2025-12-31	$60M	-25.0%	$45M	$60M	-25.0%
Accrued Insurance, Noncurrent	$210M2025-12-31	$244M	-13.9%	$210M	$244M	-13.9%
Accrued Liabilities, Current	$5.11B	$8.38B	-39.0%	$8.46B	$8.06B	+5.1%
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	$1.38B2025-12-31	$642M	+114.6%	$1.38B	$642M	+114.6%
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	-$3.78B2025-12-31	-$2.87B	-31.6%	-$3.78B	-$2.87B	-31.6%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$4.1B	-$4.64B	+11.6%	-$5.15B	-$3.49B	-47.4%
Additional Paid in Capital, Common Stock	$11.1B	$9.94B	+12.0%	$10.2B	$9.7B	+4.8%
Amortization	$104M	$106M	-1.9%	$842M	$659M	+27.8%
Amortization of Intangible Assets	$131M	$135M	-3.0%	$570M	$411M	+38.7%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.8M	900K	+100.0%	2.9M	3.9M	-25.6%
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax	$6M2025-12-31	$24M	-75.0%	$6M	$24M	-75.0%
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax	$5M2025-12-31	-$1M	+600.0%	$5M	-$1M	+600.0%
Asset Retirement Obligations, Noncurrent	$18M2025-12-31	$15M	+20.0%	$18M	$15M	+20.0%
Assets	$53.1B	$80.9B	-34.4%	$73.7B	$75.2B	-2.0%
Assets Held-for-sale, Not Part of Disposal Group, Current	$0	$0	–	$2.49B	$1.37B	+82.6%
Assets, Current	$14.3B	$30.7B	-53.4%	$30.4B	$27.9B	+8.9%
Assets, Fair Value Disclosure	$600M	–	–	$556M	$651M	-14.6%
Business Combination, Acquisition Related Costs	$33M	$13M	+153.8%	$43M	$44M	-2.3%
Capitalized Contract Cost, Accumulated Amortization	$116M2025-12-31	$188M	-38.3%	$116M	$188M	-38.3%
Capitalized Contract Cost, Gross	$1.19B2025-12-31	$1.16B	+3.2%	$1.19B	$1.16B	+3.2%
Cash and Cash Equivalents, at Carrying Value	$5.69B	$12.9B	-56.0%	$12.5B	$9.91B	+26.1%
Cash Divested from Deconsolidation	$0	$0	–	–	–	–
Cash Provided by (Used in) Investing Activities, Discontinued Operations	-$252M	-$414M	+39.1%	-$269M	-$293M	+8.2%
Cash Provided by (Used in) Operating Activities, Discontinued Operations	-$189M	$2.12B	-108.9%	$333M	$985M	-66.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$5.69B	$12.9B	-56.0%	$12.5B	$10.6B	+18.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$3.06B	$2.58B	-218.4%	$1.92B	$2.64B	-27.3%
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	–	–	–	$57M	-$30M	+290.0%
Common Stock, Dividends, Per Share, Cash Paid	$0.70	$2.26	-69.0%	$4.58	$4.37	+4.8%
Common Stock, Shares Authorized	1B2026-06-29	–	–	2B2019-12-31	2B	0.0%
Common Stock, Shares, Issued	479M	479M	0.0%	958M	958M	0.0%
Common Stock, Shares, Outstanding	317M	318M	0.0%	635M	650M	-2.2%
Common Stock, Value, Outstanding	$479M	$958M	-50.0%	$958M	$958M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	$8M	$30M	-73.3%	$67M	$6M	+1,016.7%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$1.59B	$1.6B	-0.9%	$3.07B	$6.35B	-51.6%
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	$1.59B	$1.63B	-2.2%	$3.14B	$6.36B	-50.6%
Contract with Customer, Asset, after Allowance for Credit Loss	$1.48B	$1.59B	-6.7%	$2.4B	$2.16B	+11.5%
Contract with Customer, Liability	$1.88B	$1.9B	-1.0%	$3.84B	$4.12B	-6.8%
Contract with Customer, Liability, Current	$3.86B2025-12-31	$3.43B	+12.6%	$3.86B	$3.43B	+12.6%
Contract with Customer, Liability, Noncurrent	$1.11B2025-12-31	$1.17B	-4.7%	$1.11B	$1.17B	-4.7%
Contract with Customer, Liability, Revenue Recognized	$124M	$158M	-21.5%	$1.96B	$2.1B	-6.5%
Cost of Goods and Services Sold	$2.98B	$3.16B	-5.7%	$23.6B	$21.4B	+10.5%
Current Federal Tax Expense (Benefit)	–	–	–	$49M	$478M	-89.7%
Current Foreign Tax Expense (Benefit)	–	–	–	$914M	$943M	-3.1%
Current Income Tax Expense (Benefit)	–	–	–	$990M	$1.48B	-33.0%
Current State and Local Tax Expense (Benefit)	–	–	–	$27M	$57M	-52.6%
Debt Issuance Costs, Net	$189M	$292M	-35.3%	$280M	$303M	-7.6%
Debt Securities, Available-for-sale	$594M	–	–	$531M	$496M	+7.1%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-01