HONEYWELL INTERNATIONAL INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data HONEYWELL INTERNATIONAL INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Revenue	39,302	40,534	41,802	36,709	32,637	34,392	35,466	33,009	34,717	37,442
Cost of revenue	27,677	28,144	29,046	24,339	22,169	22,061	22,347	20,637	21,360	23,613
Gross profit	12,152	12,390	12,756	12,370	10,468	12,331	13,119	12,372	13,357	13,829
Research and development	1,864	1,835	1,809	1,556	1,334	1,333	1,478	1,375	1,454	1,812
Selling, general and administrative	5,574	6,087	6,051	5,519	4,772	4,798	5,214	4,887	5,235	5,450
Operating income							8,022	7,563	7,667	8,127
Interest expense	338	316	367	357	359	343	414	749	1,048	1,344
Interest income	106	151	217	255	107	102	138	321	430	369
Other non-operating income	739	963	1,149	1,065	675	1,378	366	830	843	1,247
Pre-tax income	6,452	6,950	7,487	7,559	6,012	7,235	6,379	6,191	6,244	5,476
Income tax	1,603	5,362	659	1,329	1,147	1,625	1,412	1,262	1,249	1,008
Income from continuing operations								4,913	4,968	4,461
Net income to minority interests	37	43	63	87	86	68	1	14	35	43
Net income	4,812	1,545	6,765	6,143	4,779	5,542	4,966	5,658	5,705	4,729
EBITDA							9,226	8,567	8,820	9,515
EPS, basic	6.30	2.03	9.10	8.52	6.79	8.01	7.33	8.53	8.76	7.40
EPS, diluted	6.21	2.00	8.98	8.41	6.72	7.91	7.27	8.47	8.71	7.36
Shares, basic (weighted)	764	762	743	721	704	692	677	663	651	639
Shares, diluted (weighted)	775	772	753	730	711	700	683	668	655	643
Dividend per share	2.45	2.74	3.06	3.36	3.63	3.77	3.97	4.17	4.37	4.58

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	7,843	7,059	9,287	9,067	14,275	10,959	9,627	7,925	9,906	12,487
Short-term investments	1,520	3,758	1,623	1,349	945	564	483	170	386	443
Receivables	8,177	8,866	7,508	7,493	6,827	6,830	7,440	7,530	7,247	7,621
Inventory	4,366	4,613	4,326	4,421	4,489	5,138	5,538	6,178	5,884	6,162
Other current assets	1,152	1,706	1,618	1,973	1,639	1,881	1,894	1,699	1,259	1,182
Total current assets	23,058	26,002	24,362	24,303	28,175	25,372	24,982	23,502	27,908	30,387
Property, plant and equipment	5,793	5,926	5,296	5,325	5,570	5,562	5,471	5,660	4,457	4,629
Lease right-of-use assets				673	773	947	881	1,004	936	876
Goodwill	17,707	18,277	15,546	15,563	16,058	17,756	17,497	17,238	21,019	21,079
Intangible assets	4,634	4,496	4,139	3,734	3,560	3,613	3,222	3,231	6,621	6,736
Other non-current assets	1,603	3,372	6,869	8,688	9,412	10,134	9,513	9,582	10,556	9,247
Total assets	54,566	59,470	57,773	58,679	64,586	64,470	62,275	61,525	75,196	73,681
Accounts payable	5,690	6,584	5,607	5,730	5,750	6,484	6,329	6,849	6,109	6,315
Accrued liabilities	7,048	6,968	6,859	7,476	7,405	7,679	9,162	7,809	8,055	8,462
Deferred revenue			2,403	2,490	2,932	3,163	3,555	3,499	3,429	3,860
Short-term debt	227	1,351	2,872	1,376	2,445	1,803	1,730	1,796	1,325	1,546
Total current liabilities	16,331	18,861	18,924	18,098	19,197	19,508	19,938	18,539	21,256	23,414
Long-term debt	12,182	12,573	9,756	11,110	16,342	14,254	15,123	16,562	25,440	27,141
Lease liabilities			0	534	641	847	775	897	863	809
Other non-current liabilities	4,110	5,930	6,402	6,766	6,975	7,087	6,469	6,265	5,581	6,408
Total liabilities	35,263	42,805	39,415	39,973	46,796	45,228	44,956	45,091	56,042	58,651
Total debt	12,409	13,924	12,628	12,486	18,787	16,057	16,853	18,358	26,826	28,687
Paid-in capital	5,781	6,212	6,452	6,876	7,292	8,141	8,564	9,062	9,695	10,157
Retained earnings	28,710	27,481	33,978	37,693	39,905	42,827	45,093	47,979	50,835	50,964
Treasury stock	-13,366	-15,914	-19,771	-23,836	-27,229	-30,462	-34,443	-38,008	-39,378	-43,029
Other comprehensive income	-2,714	-2,235	-3,437	-3,197	-3,377	-2,895	-3,475	-4,135	-3,491	-5,146
Shareholders' equity	19,369	16,502	18,180	18,494	17,549	18,569	16,697	15,856	18,619	13,904
Minority interests	178	163	178	212	241	673	622	578	535	1,126
Total equity	18,883	16,665	18,358	18,706	17,790	19,242	17,319	16,434	19,154	15,030
Total liabilities and equity	54,146	59,470	57,773	58,679	64,586	64,470	62,275	61,525	75,196	73,681
Shares outstanding	761	751	730	711	697	685	668	652	650	635

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2020	FY2022	FY2023	FY2024	FY2025
Net income	4,849	1,588	6,828	6,230	4,865	5,610	4,967	5,672	5,740	4,772
Depreciation and amortization	1,030	1,115	1,116	1,088	1,003	1,138	1,204	1,004	1,153	1,388
Stock-based compensation	184	176	175	153	168	217	188	197	189	196
Deferred income tax	78	2,452	-586	179	-175	178	-180	189	-229	18
Change in receivables	-547	-682	-236	11	669	-8	-739	67	-129	-825
Change in inventory	-18	-259	-503	-100	-67	-685	-440	-549	-286	-636
Change in payables	254	924	733	118	15	744	-155	444	78	724
Cash from operations	5,498	5,966	6,434	6,897	6,208	6,038	5,274	5,340	6,097	6,408
Capital expenditures	-1,095	-1,031	-828	-839	-906	-895	-766	-741	-871	-986
Acquisitions	-2,573	-82	-535	-50	-261	-1,326	-178	-718	-8,880	-2,211
Purchases of investments	-3,954	-6,743	-4,059	-4,253	-3,236	-2,373	-1,211	-560	-1,077	-1,503
Sales and maturities of investments	3,681	4,414	6,032	4,464	3,508	2,525	1,255	971	870	1,469
Cash from investing	-3,342	-3,574	1,027	-533	-987	-1,061	-93	-1,293	-10,157	-2,711
Share buybacks	-2,079	-2,889	-4,000	-4,400	-3,714	-3,380	-4,200	-3,715	-1,655	-3,804
Dividends paid	-1,915	-2,119	-2,272	-2,442	-2,592	-2,626	-2,719	-2,855	-2,902	-2,976
Cash from financing	346	-3,516	-5,032	-6,600	-81	-8,254	-6,330	-5,763	6,839	-1,953
Exchange rate effect	-114	340	-201
Net change in cash	2,388	-784	2,228	-220	5,208	-3,316	-1,332	-1,702	2,642	1,920
Free cash flow	4,403	4,935	5,606	6,058	5,302	5,143	4,508	4,599	5,226	5,422
Interest paid	329	306	353	344	329	339	375	649	869	1,300
Income taxes paid	1,142	1,751	1,566	1,564	1,173	1,202	1,324	1,581	1,689	1,798

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $212.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	36.5%	Gross profit / revenue.
Operating margin	20.7%	Operating income / revenue.
EBITDA margin	24.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	25.9%	Pre-tax income / revenue.
Net margin	21.6%	Net income / revenue.
FCF margin	10.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.4%	Cash from operations / revenue.
Effective tax rate	19.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	44.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	10.6%	Net income / average total assets.
Return on invested capital (ROIC)	15.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	5.0%	Research and development expense / revenue.
SG&A / revenue	14.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.
D&A / revenue	3.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	7.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	1.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.8%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	5.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	6.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	7.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	1.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-17.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-1.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-0.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-15.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	0.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	1.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	5.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	0.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	3.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	6.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	0.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	4.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	4.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	4.8%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-25.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-5.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-4.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-2.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	5.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.21x	Current assets / current liabilities.
Quick ratio	0.76x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.40x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.70x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	40.7%	Total debt / total assets.
Liabilities / assets	75.6%	Total liabilities / total assets.
Net debt	$22.31B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.44x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.44x	Operating income / interest expense.
Working capital	$4.89B	Current assets - current liabilities.
Goodwill and intangibles / assets	34.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$7.84B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.49x	Revenue / average total assets.
Fixed asset turnover	8.28x	Revenue / average property, plant and equipment.
Inventory turnover	3.58x	Cost of revenue / average inventory.
Days inventory	102 days	365 x average inventory / cost of revenue.
Receivables turnover	4.56x	Revenue / average receivables.
Days sales outstanding	80 days	365 x average receivables / revenue.
Days payables	102 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	80 days	Days inventory + days sales outstanding - days payables.
FCF conversion	48.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	21.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$21.80	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$119.45	Revenue / diluted weighted shares.
FCF per share	$12.59	Free cash flow / diluted weighted shares.
Operating cash flow per share	$16.06	Cash from operations / diluted weighted shares.
Book value per share	$58.49	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$24.75	Tangible book value / shares outstanding.
Cash per share	$29.02	(Cash + short-term investments) / shares outstanding.
Payout ratio	37.4%	Dividends paid / net income, when net income is positive.
Dividends / FCF	76.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	29.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$67.37B	Share price x shares outstanding.
Enterprise value	$89.68B	Market cap + total debt - cash - short-term investments.
P/E	8.20x	Market cap / net income. Only when net income is positive.
P/S	1.77x	Market cap / revenue.
P/B	3.63x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	16.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.2x	Market cap / cash from operations, when positive.
EV/Sales	2.36x	Enterprise value / revenue.
EV/EBIT	11.4x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.80x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.0%	Free cash flow / market cap.
Earnings yield	12.2%	Net income / market cap (the inverse of P/E).
Dividend yield	4.6%	Dividends paid over the period / market cap.
Shareholder yield	6.3%	(Dividends paid + share buybacks) / market cap.
PEG	20.0x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was HONEYWELL INTERNATIONAL INC's revenue in fiscal 2025?

HONEYWELL INTERNATIONAL INC reported revenue of $37.44B for fiscal 2025, 7.8% higher than the year before.

Was HONEYWELL INTERNATIONAL INC profitable in fiscal 2025?

Yes. Net income was $4.73B, a net margin of 12.6%.

How much free cash flow did HONEYWELL INTERNATIONAL INC generate in fiscal 2025?

Cash from operations of $6.41B minus capital expenditures of $986.0M left free cash flow of $5.42B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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