Honeywell traces its roots to 1885 with Albert Butz's firm, Butz Thermo-Electric Regulator, which produced a predecessor to the modern thermostat. Other inventions by Honeywell include biodegradable detergent and autopilot.
It is a $65.9B industrial company. Revenue shrank 9.7% over the last year, it keeps 23¢ of every dollar of sales as profit, and its net debt equals ~4.8 years of free cash flow. It trades at 7.6× earnings — near the lowest of its own history.
- Website
- honeywell.com
- Location
- Charlotte, NC
- Employees
- 101 000
- Sector
- Industrials
- Founded
- 1936
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong valuation, profitability, quality and moat; Growth lags behind.
Valuation95
- P/E vs own history1th pct · 25/25
- FCF yield6.3% · 20/25
- P/S1.7x · 25/25
- EV/EBITDA7.8x · 25/25
Growth6
- Revenue CAGR2.1% · 6/25
- Net income CAGR-3.9% · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growth-65.9% · 0/25
Profitability87
- ROIC13.9% · 12/25
- ROE53.6% · 25/25
- Net margin22.7% · 25/25
- Operating margin28.8% · 25/25
Health60
- Altman Z2.18 · 18/25
- Current ratio1.21 · 12/25
- Interest coverage7.8x · 18/25
- Net cash / debtD/A 27% · 12/25
Quality75
- Piotroski F4/9 · 10/25
- Beneish M-2.59 · 25/25
- FCF conversion51% · 15/25
- Margin stabilityσ 1.8% · 25/25
Moat75
- ROIC >12% years10/10 yrs · 25/25
- Median gross margin33.3% · 13/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 4.1% · 12/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionHoneywell Technologies completed its acquisition of Johnson Matthey's Catalyst Technologies business…
- 2023AcquisitionHoneywell agreed to acquire Carrier Global's security business for approximately $5 billion
- FY2018FinancialBest year on record$6.76B net income
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$39.3B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2010AcquisitionHoneywell outbid UK-based Cinven and acquired the French company Sperian Protection for $1.4 billion
- 1999AcquisitionThe corporation's name, Honeywell International Inc., is a product of the merger of Honeywell Inc
- 1953AcquisitionIn cooperation with the USAF Wright-Air Development Center, Honeywell developed an automated control unit
- 1941ProductMinneapolis-Honeywell developed a superior tank periscope, camera stabilizers
- 1936FoundedThis expansion into international markets continued in 1936, with its first distributorship in London
- 1934Acquisition1934 marked Minneapolis-Honeywell's first foray into the international market
- 1931AcquisitionMinneapolis-Honeywell began a period of expansion and acquisition when it purchased the Time-O-Stat…
- 1922AcquisitionAs Honeywell's company grew, thanks in part to the acquisition of Jewell Manufacturing Company in 1922 to better…
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- Strongly profitable — 22.7% net margin
- Interest covered 7.8× by operating earnings
Watch-outs
- Revenue shrinking 9.7% year over year
- Net debt would take ~6.2 years of free cash flow to repay
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago-9.7% YoY
- Profitable — makes more than it spends$8.21B TTM
- Profit growing — earnings are higher than last year+3.2% YoY
- Generates cash — cash left after running and investing$4.15B TTM
- Debt under control — could handle its obligations~4.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$65.9B market cap
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 2.2 — grey
- Pays a dividend — returns cash to shareholdersyield 4.67%
- Valuation not extreme — price not wildly above earningsP/E 7.6
Peer comparisonHoneywell International, Inc. vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| HON this company | $65.9B | 7.6 | -9.7% | 22.7% | Mixed |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: HON vs LRCX · HON vs CAT · HON vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/HON
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Deeper analysis of HON on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $208.00 · market cap $65.9B.