HONEYWELL INTERNATIONAL INCHON
HONEYWELL INTERNATIONAL INC Financial Overview 2021–2025
Honeywell is aggressively dismantling its traditional conglomerate model to unlock value, headlined by the FY2025 spin-off of its Advanced Materials business and the planned separation of its Aerospace and Automation divisions. This strategic pivot aims to create focused standalone entities while maintaining operational discipline, as revenue grew from $34.4 billion in FY2021 to $37.4 billion in FY2025. The company is shedding complexity to focus on high-growth verticals, betting that independent sector leaders will outperform the former diversified sum of the parts.
Underpinning this restructuring is exceptional demand in the Aerospace Technologies segment, which delivered double-digit growth for three consecutive years through FY2025. Future revenue visibility remains substantial, with the total backlog expanding from $27.7 billion in FY2021 to $37.5 billion by the end of FY2025. Capital deployment remained aggressive, with $10.0 billion allocated in FY2025 toward dividends, share repurchases, and strategic M&A, up from $8.2 billion four years prior. Investors valued this evolving portfolio at $195.09 per share at the close of FY2025, weighing the streamlined operational focus against the execution risks of the ongoing breakup.
Recent Developments (Q3 and Q4 2025)
In Q3 2025, Honeywell accelerated its earnings momentum, reporting a 29% year-over-year surge in net income to $1.825 billion. This performance was anchored by a 7% rise in quarterly sales to $10.4 billion and a $0.8 billion gain from terminating the Resideo reimbursement agreement. Following the completion of the Solstice Advanced Materials spin-off on October 30, 2025, management further de-risked the balance sheet by divesting legacy asbestos liabilities through the $1.68 billion sale of Sterling Wander.
However, the transition generated friction, including a $370 million operating charge in Q4 2025 to settle Flexjet litigation. Bulls argue the clearer portfolio structure justifies the premium, while bears warn that trading at 27.9x earnings as of February 2026 prices in perfection despite the complexity of the remaining Aerospace separation.
What to watch: The impact of the new Process Automation and Technology segment reporting structure effective Q1 2026; execution of the Aerospace spin-off under newly appointed CEO James Currier.
Rev
$38.50B
FY2024
NI
$5.71B
FY2024
EPS
$8.76
FY2024
OCF
$6.10B
FY2024
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
HONEYWELL INTERNATIONAL INC 8-K Report, Regulation FD Disclosure (Feb 17, 2026)
Honeywell International Inc. (HON) has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. This filing includes important updates regarding previously disclosed impairment charges for its Productivity Solutions and Services (PSS) and Warehouse and Workflow Solutions (WWS) businesses, which were classified as assets held for sale in the fourth quarter of 2025. Following its January 29, 2026, earnings release, Honeywell has recorded *incremental* impairment charges related to these divested businesses. These adjustments reflect ongoing reviews of financial information pertinent to the sale processes of PSS and WWS. Investors should note that these charges are now incorporated into the company's year-end results as presented in the 10-K, and further details are provided in a press release issued on February 17, 2026.
HONEYWELL INTERNATIONAL INC 8-K Report, Financial Results (Jan 29, 2026)
Honeywell International Inc. (HON) has filed an 8-K report on January 29, 2026, to announce its fourth quarter and full-year 2025 earnings. A key focus of this filing is the upcoming realignment of its business segments, effective Q1 2026. This strategic move aims to enhance reporting clarity and better reflect the company's operational structure. The company will transition to four primary reportable segments: Aerospace Technologies, Building Automation, Process Automation and Technology, and Industrial Automation. The new Process Automation and Technology segment will consolidate core process solutions from the current Industrial Automation segment with UOP from Energy and Sustainability Solutions. Concurrently, the Energy and Sustainability Solutions segment will cease to be reported as a distinct segment following the prior spin-off of Advanced Materials. In addition to the segment realignment, Honeywell will also begin reporting revenue disaggregation within its Building Automation, Process Automation and Technology, and Industrial Automation segments based on business models: Products, Projects, Solutions, and Aftermarket. This will provide investors with more granular insights into revenue drivers. The company has furnished supplemental unaudited historical segment information for Q4 and full-year 2025, recast to reflect the new segment structure, alongside its earnings press release. Importantly, this realignment is an internal reporting change and is not expected to impact the company's historical consolidated financial position, results of operations, or cash flows.
HONEYWELL INTERNATIONAL INC 8-K Report, Financial Results (Dec 22, 2025)
Honeywell International Inc. (HON) has filed an 8-K report detailing significant upcoming changes to its business segment reporting and a material update on litigation. Effective in the first quarter of 2026, the company will realign its reporting segments, creating a new 'Process Automation and Technology' segment by combining parts of 'Industrial Automation' and 'Energy and Sustainability Solutions.' The 'Energy and Sustainability Solutions' segment will cease to exist as a separate reportable segment following the spin-off of its Advanced Materials business on October 30, 2025. These changes are intended to provide a clearer view of the company's operations and are expected to be effective with financial reporting for the first quarter of 2026, with no impact on historical consolidated financial position, results of operations, or cash flows. Additionally, Honeywell announced an expected settlement in the Flexjet litigation, anticipating a one-time charge of approximately $310 million against GAAP sales and $370 million against operating income in the fourth quarter of 2025 within its Aerospace Technologies segment. The settlement is also expected to involve aggregate cash payments of around $470 million.
HONEYWELL INTERNATIONAL INC 8-K Report, Executive Changes (Dec 10, 2025)
Honeywell International Inc. (HON) has announced a significant addition to its Board of Directors with the appointment of Ms. Indra Nooyi, effective January 1, 2026. Ms. Nooyi, a highly experienced executive and former CEO and Chair of PepsiCo, Inc., brings a wealth of strategic and financial expertise to Honeywell's board. Her extensive background, including leadership roles at PepsiCo and current board positions at Amazon and Philips, is expected to provide valuable oversight and guidance as Honeywell navigates its business strategies and corporate governance. This appointment is a positive signal for investors, indicating a commitment to strong board leadership and diverse expertise. Ms. Nooyi's track record in driving growth and managing complex organizations, coupled with her experience in audit and governance committees, should enhance the board's effectiveness. Investors can anticipate that her insights will contribute to informed decision-making and continued value creation for shareholders. Ms. Nooyi will officially stand for election by shareholders at the Company’s 2026 Annual Meeting.
HONEYWELL INTERNATIONAL INC 8-K Report, Executive Changes (Nov 3, 2025)
Honeywell International Inc. (HON) has announced a significant leadership transition related to the planned spin-off of its Aerospace Technologies segment. Mr. James E. Currier, currently President and CEO of Aerospace Technologies, has been appointed to lead the independent, publicly traded company that will emerge from this spin-off, to be named Honeywell Aerospace. This move signals a clear leadership path for the new entity, providing continuity and experienced management for its future operations and strategic direction as a standalone business. Furthermore, Honeywell has appointed Mr. Craig Arnold, retired Chairman and CEO of Eaton Corporation, to serve as the non-executive Chairman of the Board of Directors for Honeywell Aerospace post-spin-off. Mr. Arnold has also been appointed to Honeywell's Board of Directors, effective immediately, and will stand for election at the 2026 Annual Meeting. This appointment brings a seasoned executive with extensive corporate leadership experience to both the new aerospace entity and Honeywell's current board, likely to provide valuable strategic oversight.
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