Honeywell International Inc
HON—
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Honeywell International Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 23.7B is 141% of equity (16.8B) - tangible book value is NEGATIVE (-14.1B), creating material impairment risk[Goodwill]
- Debt/equity at 2.2x with 37B total debt vs 16.8B equity; interest expense of 1.3B TTM consumes 16% of operating income[Debt to Equity]
- ROE of 35.9% TTM driven by leverage - ROIC of 12% TTM shows true capital efficiency on 53.8B invested capital[ROE TTM]
Watch Triggers
- Goodwill: Impairment charge announced or goodwill/equity exceeds 150% — Would directly reduce already-thin equity base and signal acquisition overpayment
- Free Cash Flow TTM: Falls below 5B or FCF margin drops under 12% — Threatens dividend coverage and deleveraging capacity
- Interest Expense TTM: Exceeds 1.5B or interest/EBIT rises above 20% — Signals debt burden consuming operating profits
Bull Case
FCF yield of 5% (6.2B/122.6B market cap) with 15% FCF margin TTM funds dividends and buybacks without additional leverage
Free Cash Flow TTMMarket Cap TTM
Operating margin 18.9% TTM vastly exceeds industry median of 0% - pricing power and operational efficiency intact
Operating Margin TTM
Bear Case
Negative tangible book (-14.1B) means equity is 100% intangibles; any goodwill impairment directly hits equity cushion
Tangible Book ValueGoodwill
Debt/equity 2.2x with 24.1B net debt; rising rates or EBITDA decline compresses coverage from current 8.2x
Debt to EquityNet DebtEBITDA TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
45%
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Forward Thesis
FCF generation will support deleveraging while maintaining 4.5% dividend yield over next 2 years
1-3ymed
- 6.2B FCF TTM covers 2.9B dividends 2.1x
- 12.9B cash provides liquidity buffer
- Operating margin of 18.9% stable
FCF TTM 6.2B on 40.7B revenueCash 12.9B vs current debt 6.9BOperating income 7.7B TTM
Margin compression risk if revenue growth stalls given high fixed cost base and leverage
1-3ymed
- 37B debt requires servicing
- R&D of 1.8B TTM is fixed cost
- Asset turnover only 0.53x
Interest expense 1.3B TTMTotal assets 80.9BRevenue 40.7B TTM
Valuation Context
Caveats
Public Strategies Rankings
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HON Fundamentals
Management of Companies and Enterprises → Management of Companies and Enterprises
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$146.66B | — | ||
$169.74B | — | ||
31 | — | ||
$37.44B | +7.8% | — | |
$7.36 | +9.8% | — | |
17.5% | -2.4% | — | |
12.6% | -2.2% | — | |
$5.42B | +3.8% | — | |
29.1% | -4.0% | — | |
Beta 5Y (Monthly) | unknown | — |
HON Dividend History
105 dividends
2026
$1.190002/27/26$1.1900
2025
$4.580011/14/25$1.1900
08/15/25$1.1300
05/16/25$1.1300
02/28/25$1.1300
2024
$4.370011/15/24$1.1300
08/16/24$1.0800
05/16/24$1.0800
02/29/24$1.0800
2023
$4.170011/09/23$1.0800
08/10/23$1.0300
05/11/23$1.0300
02/23/23$1.0300
2022
$3.970011/09/22$1.0300
08/11/22$0.9800
05/12/22$0.9800
02/24/22$0.9800
2021
$3.770011/10/21$0.9800
08/12/21$0.9300
05/13/21$0.9300
02/25/21$0.9300
2020
$3.630011/12/20$0.9300
08/13/20$0.9000
05/14/20$0.9000
02/27/20$0.9000
2019
$3.360011/14/19$0.9000
08/15/19$0.8200
05/23/19$0.8200
02/21/19$0.8200
2018
$3.055011/15/18$0.8200
08/16/18$0.7450
05/17/18$0.7450
02/22/18$0.7450
2017
$2.740011/16/17$0.7450
08/16/17$0.6650
05/17/17$0.6650
02/22/17$0.6650
2016
$2.450011/16/16$0.6650
08/17/16$0.5950
05/17/16$0.5950
02/23/16$0.5950
2015
$2.147511/17/15$0.5950
08/18/15$0.5175
05/19/15$0.5175
02/24/15$0.5175
2014
$1.867511/18/14$0.5175
08/19/14$0.4500
05/20/14$0.4500
02/25/14$0.4500
2013
$1.680011/19/13$0.4500
08/16/13$0.4100
05/16/13$0.4100
02/21/13$0.4100
2012
$1.527511/16/12$0.4100
08/16/12$0.3725
05/16/12$0.3725
02/23/12$0.3725
2011
$1.370011/16/11$0.3725
08/17/11$0.3325
05/18/11$0.3325
02/16/11$0.3325
2010
$1.210011/17/10$0.3025
08/18/10$0.3025
05/18/10$0.3025
02/17/10$0.3025
2009
$1.210011/18/09$0.3025
08/18/09$0.3025
05/18/09$0.3025
02/18/09$0.3025
2008
$1.100011/18/08$0.2750
08/18/08$0.2750
05/16/08$0.2750
02/25/08$0.2750
2007
$1.000011/16/07$0.2500
08/16/07$0.2500
05/16/07$0.2500
02/23/07$0.2500
2006
$0.907611/16/06$0.2269
08/16/06$0.2269
05/17/06$0.2269
02/23/06$0.2269
2005
$0.825211/16/05$0.2063
08/17/05$0.2063
05/18/05$0.2063
02/16/05$0.2063
2004
$0.750011/17/04$0.1875
08/18/04$0.1875
05/18/04$0.1875
02/18/04$0.1875
2003
$0.750011/18/03$0.1875
08/18/03$0.1875
05/16/03$0.1875
02/18/03$0.1875
2002
$0.750011/18/02$0.1875
08/16/02$0.1875
05/16/02$0.1875
02/15/02$0.1875
2001
$0.750011/16/01$0.1875
08/16/01$0.1875
07/05/01$0.1875
02/15/01$0.1875
2000
$0.750011/16/00$0.1875
08/16/00$0.1875
05/17/00$0.1875
02/16/00$0.1875
HON Stock Splits
No stock splits
HON SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/17/26 | 12/31/25 | 10-K | |
10/23/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/29/25 | 03/31/25 | 10-Q | |
02/14/25 | 12/31/24 | 10-K | |
10/24/24 | 09/30/24 | 10-Q | |
07/25/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/27/23 | 06/30/23 | 10-Q | |
04/27/23 | 03/31/23 | 10-Q | |
02/10/23 | 12/31/22 | 10-K | |
10/27/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/29/22 | 03/31/22 | 10-Q | |
02/11/22 | 12/31/21 | 10-K | |
10/22/21 | 09/30/21 | 10-Q | |
07/23/21 | 06/30/21 | 10-Q | |
04/23/21 | 03/31/21 | 10-Q | |
02/12/21 | 12/31/20 | 10-K | |
10/30/20 | 09/30/20 | 10-Q | |
07/24/20 | 06/30/20 | 10-Q | |
05/01/20 | 03/31/20 | 10-Q | |
02/14/20 | 12/31/19 | 10-K | |
10/17/19 | 09/30/19 | 10-Q | |
07/18/19 | 06/30/19 | 10-Q | |
04/18/19 | 03/31/19 | 10-Q | |
02/08/19 | 12/31/18 | 10-K | |
10/19/18 | 09/30/18 | 10-Q | |
07/20/18 | 06/30/18 | 10-Q | |
04/20/18 | 03/31/18 | 10-Q | |
02/09/18 | 12/31/17 | 10-K | |
10/20/17 | 09/30/17 | 10-Q | |
07/21/17 | 06/30/17 | 10-Q | |
04/21/17 | 03/31/17 | 10-Q | |
02/10/17 | 12/31/16 | 10-K | |
10/21/16 | 09/30/16 | 10-Q | |
07/22/16 | 06/30/16 | 10-Q | |
04/22/16 | 03/31/16 | 10-Q | |
02/12/16 | 12/31/15 | 10-K | |
10/16/15 | 09/30/15 | 10-Q | |
07/17/15 | 06/30/15 | 10-Q | |
04/17/15 | 03/31/15 | 10-Q | |
02/13/15 | 12/31/14 | 10-K | |
10/17/14 | 09/30/14 | 10-Q | |
07/18/14 | 06/30/14 | 10-Q | |
04/17/14 | 03/31/14 | 10-Q | |
02/14/14 | 12/31/13 | 10-K | |
10/18/13 | 09/30/13 | 10-Q | |
07/19/13 | 06/30/13 | 10-Q | |
04/19/13 | 03/31/13 | 10-Q | |
02/15/13 | 12/31/12 | 10-K | |
10/19/12 | 09/30/12 | 10-Q | |
07/18/12 | 06/30/12 | 10-Q | |
04/20/12 | 03/31/12 | 10-Q | |
02/17/12 | 12/31/11 | 10-K | |
10/21/11 | 09/30/11 | 10-Q | |
07/22/11 | 06/30/11 | 10-Q | |
04/21/11 | 03/31/11 | 10-Q | |
02/11/11 | 12/31/10 | 10-K | |
10/22/10 | 09/30/10 | 10-Q | |
07/23/10 | 06/30/10 | 10-Q | |
04/23/10 | 03/31/10 | 10-Q | |
02/12/10 | 12/31/09 | 10-K | |
10/23/09 | 09/30/09 | 10-Q | |
07/27/09 | 06/30/09 | 10-Q | |
04/24/09 | 03/31/09 | 10-Q | |
02/13/09 | 12/31/08 | 13F-HR | |
10/17/08 | 09/30/08 | 10-Q | |
07/18/08 | 06/30/08 | 10-Q | |
04/18/08 | 03/30/08 | Unknown | -- |
02/15/08 | 12/31/07 | 13F-HR | |
10/19/07 | 09/30/07 | 10-Q | |
07/19/07 | 06/30/07 | 10-Q | |
04/20/07 | 03/31/07 | 4 | |
02/16/07 | 12/31/06 | 13F-HR | |
10/19/06 | 09/30/06 | 10-Q | |
07/21/06 | 06/30/06 | 10-Q | |
04/24/06 | 03/30/06 | Unknown | -- |
03/01/06 | 12/31/05 | 13F-HR | |
10/28/05 | 09/30/05 | 8-K | |
08/03/05 | 06/30/05 | 10-Q | |
05/05/05 | 03/30/05 | Unknown | -- |
02/25/05 | 12/31/04 | 13F-HR | |
11/05/04 | 09/30/04 | 10-Q | |
08/02/04 | 06/30/04 | 10-Q | |
05/03/04 | 03/30/04 | Unknown | -- |
03/04/04 | 12/31/03 | 13F-HR | |
11/07/03 | 09/30/03 | 10-Q | |
08/08/03 | 06/30/03 | 10-Q | |
05/09/03 | 03/30/03 | Unknown | -- |
03/06/03 | 12/31/02 | 13F-HR | |
11/13/02 | 09/30/02 | 13F-HR | |
08/07/02 | 06/30/02 | 10-Q | |
05/08/02 | 03/30/02 | Unknown | -- |
03/20/02 | 12/31/01 | 13F-HR | |
11/14/01 | 09/30/01 | 13F-HR | |
08/13/01 | 06/30/01 | 10-Q | |
05/11/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | 13F-HR | |
11/13/00 | 09/30/00 | 13F-HR | |
08/11/00 | 06/30/00 | 13F-HR | |
05/12/00 | 03/30/00 | Unknown | -- |