HON
HONEYWELL INTERNATIONAL INC
Industrials • CIK: 0000773840
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Market Cap
$135.33B
P/E (TTM)
22.1x
Rev Growth (TTM)
—
Net Margin (TTM)
15.1%
FCF Yield (TTM)
4.6%
FCF Margin (TTM)
15.2%
Cash Flow Health
Free Cash Flow8/8 positive
TTM$6.2B
Q3 '25
$2.9B+187%
Q2 '25
$1.0B+194%
FCF Margin
TTM15.2%
Q3 '2528.0%+185%
Sector: 7.3%Top 25%
OCF Margin18.4%
OCF/NI1.22x
CapEx Coverage5.7x
FCF Yield4.6%
FCF Growth (2Y)–
Cash Conversion Cycle
71 days
DSO: 75+DIO: 95−DPO: 99
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM5.2%
Div Yield2.1%
+Buyback (TTM)3.1%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)2.1%
FCF Payout Ratio47.1%
Free Cash Flow (TTM)$6.2B
Stock Repurchases (TTM)$4.2B
Capital Return / FCF115.4%
Est. Dividends Paid (TTM)$2.9B
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
19.2%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
18.5%
Asset Turnover
0.53x
Leverage (1+D/E)
3.20x
D/E: 2.20x
DuPont: 31.5% ≈ 19.2% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
6.49x
8Q:–
Invested Cap Turn
1.04x
8Q:–
CapEx Intensity
3.4%
8Q:–
CapEx/Depreciation
0.85x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $40.7B | $10.4B↑0.5% | $10.4B↑5.4% | $9.8B↓2.6% | $10.1B↑3.7% | $9.7B↑1.6% | $9.6B↑5.2% | $9.1B↓3.5% | $9.4B |
Operating Income | $9.1B | $2.4B↑1.7% | $2.4B↑4.8% | $2.3B↑7.0% | $2.1B↓8.1% | $2.3B↑4.4% | $2.2B↑5.0% | $2.1B↓9.0% | $2.3B |
Net Income | $6.1B | $1.8B↑16.2% | $1.6B↑8.4% | $1.4B↑12.8% | $1.3B↓9.1% | $1.4B↓8.5% | $1.5B↑5.5% | $1.5B↑15.8% | $1.3B |
Operating Cash Flow | $7.5B | $3.3B↑149.3% | $1.3B↑120.9% | $597.0M↓73.8% | $2.3B↑14.2% | $2.0B↑45.7% | $1.4B↑206.0% | $448.0M↓84.8% | $3.0B |
Free Cash Flow | $6.2B | $2.9B↑186.8% | $1.0B↑193.6% | $346.0M↓81.7% | $1.9B↑9.9% | $1.7B↑54.5% | $1.1B↑417.2% | $215.0M↓91.7% | $2.6B |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
22.1x
Valuation Lenses
Earnings
22.1x
vs – sector
Cash Flow
26.4x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
1.1P/E per %ROIC
ROIC: 19.2%
Shareholder Returns
Dividend
2.1%
Buyback
3.1%
Total Yield
5.2%
Market Cap$135.33B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
100/100
Exceptional
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
35.4%
8Q:–
Return on Invested Capital (ROIC)Top 25%
19.2%
8Q:–
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 18.5%
Asset Turnover: 0.53x
Earnings Quality
Cash Conversion
1.22x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin36.9%
Capital Efficiency
Invested Capital Turnover1.04x
Working Capital
Cash Conversion Cycle71 days
Growth Quality & Momentum
Growth Rates
Revenue Growth YoY
N/A
OpInc Growth YoY
4.8%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
High Quality
Profitability Cascade
Gross
36.9%
Operating
22.5%
Top 25% in sector
Net
15.1%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+0.1 pts
FCF: 15.2% | Net: 15.1%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $23.61B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
2.20x
Balance sheet risk & solvency analysis