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Honeywell InternationalHON

Legal name
Honeywell International Inc
Sector
Other
Industry
Aircraft Engines & Engine Parts
Exchange
Nasdaq

Stock Price $HON

Latest filings

You are here#31 of 116 in Industrials by market cap

Filing record · 2016–202610-K1110-Q348-K196

HON filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 196 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Material agreement8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Jan ’22Jan ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  19. $37.44B
YoY changeLargest recent move−12.2%in FY19Latest +7.8%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All HON Financial Metrics60 metrics

Income Statement14

Balance Sheet28

Cash Flow13

Per Share5

02—Overview

Honeywell International Financial Overview 2021–2025

Updated Nov 3, 2026

Propelled by consistent double-digit growth in its Aerospace Technologies segment, Honeywell drove its total corporate backlog up 15% year-over-year to a massive $38.3 billiona in Q1 2026. This overwhelming future demand underscores a clear investment thesis: Honeywell is executing an aggressive portfolio transformation, stripping away legacy businesses to become a highly focused, high-margin operator.

The company's top line expanded steadily as revenue grew from $34.4 billion in FY2021 to $37.4 billionb in FY2025, despite persistent supply chain volatility and inflation. Management actively reshaped this revenue base, deploying $10.0 billion in FY2025 alone across capital returns and M&A, including the $2.2 billion acquisition of Sundyne. Simultaneously, Honeywell spun off its Advanced Materials unit and initiated the separation of its massive Aerospace business. While these transition costs weighed on recent profitability—dropping net income to $821 million in Q1 2026 due to a $239 million debt extinguishment loss and a $263 million asset impairment—the core industrial engine continues to flex significant pricing power.

The market has priced in the benefits of this ongoing conglomerate break-up. At the close of FY2025, Honeywell traded at 27.8x earnings with a stock price of $204.60c, commanding a $130.0 billion market capitalization. This premium valuation reflects confidence that shedding non-core assets and leaning into automation and aviation megatrends will yield sustained margin expansion through 2026 and beyond.

Recent Developments (Q2 and Q3 2026)

Honeywell completed the Aerospace spin-off on June 29, 2026, leaving a pure-play automation company with a 1-for-2 reverse split. Q3 organic growth hit 7% on $5.0 billiond of sales. Segment margin rose 370 bps to 21.3%, up from 19.0% in Q2 2026. Adjusted EPS climbed 34% to $2.27. Management raised full-year guidance, and the Johnson Matthey Catalyst Technologies deal closed in July 2026 for $1.743 billion. Leadership shifts follow on October 1, 2026, when Billal Hammoud moves to Process Technology and Juan Picon takes Building Automation.

Bull case: orders grew 16% in Q2 2026, and margins and cash flow are expanding. Bear case: backlog growth slowed to 1% reported in Q3 2026, and divestiture costs of $1.1 billione year to date weighed on GAAP results. The stock traded at 29.7x earnings as of the October 21, 2026 report date, not today. That is a rich multiple for 3%-4% organic growth guidance.

What to watch: closing of the Productivity Solutions and Warehouse sales; Process Technology performance under new leadership

03—Filings

Recent SEC Filings

  1. 8-KHoneywell International 8-K Report, Financial Results (Oct 22, 2026)Honeywell International Inc. reported strong third-quarter 2026 results, exceeding expectations and prompting an upward revision of its full-year financial guidance. The company demonstrated broad-based organic sales growth of 7%, driven by all three segments, alongside significant improvements in operating and segment margins. Despite a reported year-over-year decrease in EPS due to a one-time gain in the prior year, adjusted EPS saw a substantial 34% increase, reflecting improved operational performance and disciplined cost management. The company's robust performance, particularly in Building Automation and Industrial Automation, coupled with effective pricing strategies and productivity gains, has positioned Honeywell to raise its full-year outlook for organic revenue, adjusted EPS, and free cash flow. Management expressed confidence in the company's long-term strategy and its ability to meet future targets, underscoring a positive trajectory following its operational realignments.
  2. 8-KHoneywell International 8-K Report, Executive Changes (Aug 19, 2026)Honeywell International (HON) filed an 8-K on August 19, 2026 disclosing executive leadership changes across its Process Automation & Technology (PA&T) and Building Automation (BA) businesses, effective October 1, 2026. Billal Hammoud, currently President and CEO of Building Automation, will become President and CEO of Process Technology (PT), a component of PA&T. Juan Picon, currently President of Building Automation Americas, will succeed Hammoud as President and CEO of Building Automation. Ken West, the current PT President and CEO, is leaving the company on August 31, 2026 to pursue an external opportunity. The filing is primarily a management-succession event rather than a financial disclosure. No financial results, guidance, compensation terms, or deal terms are included in the 8-K. The press release frames the moves as reflecting the depth of Honeywell's leadership bench and positions Hammoud to drive growth and profitability at PT, a business that the release does not quantify. Hammoud's record at BA, where the company reports organic sales growth rising from 2% in 2023 to 8% in 2025, is cited as the basis for his new assignment. For investors, the key items to monitor are execution continuity at PT following West's departure and whether Picon can sustain BA's growth trajectory, particularly in higher-growth verticals such as healthcare, hospitality and data centers. The filing does not indicate any change to financial guidance, and the press release does not state a reason for West's departure beyond an external opportunity.
  3. 8-KHoneywell International 8-K Report, Financial Results (Jul 23, 2026)Honeywell (HON) reported second quarter 2026 results on July 23, 2026, the first quarter reported after the June 29, 2026 spin-off of Honeywell Aerospace (HONA). Consolidated results still include the former Aerospace Technologies segment, so the headline figures are not comparable to the go-forward company. Consolidated sales were $9.7 billion (up 4% reported and organically), operating margin was 17.9%, segment margin was 23.1%, and GAAP diluted EPS was $17.83. That GAAP figure is inflated by a $6.6 billion pre-tax one-time gain on the deconsolidation of Quantinuum, and adjusted EPS was $4.52, down 4% year over year. Honeywell Technologies, the continuing pure-play automation business, is the figure investors should focus on. Its sales were $5.2 billion (up 3% reported, 4% organic), orders rose 16% to a roughly $20 billion backlog, segment margin expanded 100 bps to 19.0%, and adjusted EPS was $1.95, up 10%. Management raised its full-year 2026 Honeywell Technologies segment margin and adjusted EPS guidance to 20.1%-20.5% and $8.05-$8.35 (up 25%-29%), while lowering the sales outlook to $19.8-$20.0 billion. Organic growth guidance was raised to 3%-4%, with second-half organic growth expected at 4%-6%. Operating cash flow is expected at about $2.1 billion and free cash flow at about $2.0 billion, both unchanged. The sales range was trimmed partly for the pending divestitures of the PSS and WWS businesses, and the guidance includes the July 17 closing of the Johnson Matthey Catalyst Technologies acquisition. Balance sheet activity was heavy. Cash fell to $8.8 billion and total debt, including current maturities, was about $34 billion, while equity method investments rose to $7.5 billion, reflecting the Quantinuum deconsolidation. Divestiture-related costs of $820 million in the quarter, and $1.1 billion year to date, weighed on GAAP results and are a key item to monitor. Honeywell Aerospace will report its standalone second quarter results on August 5.
  4. 8-KHoneywell International 8-K Report, Material Agreement (Jun 29, 2026)On June 29, 2026, Honeywell International completed the spin-off of its Aerospace Technologies business into Honeywell Aerospace Inc. (Nasdaq: HONA), distributed at one HONA share for every two HON shares held as of June 15, 2026. The parent company now operates as Honeywell Technologies, a pure-play automation company (Nasdaq: HON), and will no longer consolidate Aerospace. Aerospace is reported as discontinued operations beginning in Q3 2026, with prior periods recast. Concurrently, a 1-for-2 reverse stock split took effect, reducing shares outstanding from roughly 634 million to roughly 317 million and cutting authorized shares from 2 billion to 1 billion. The filing also reflects the earlier deconsolidation of Quantinuum, which no longer qualifies as an operating segment. The pro forma financials show the continuing business is much smaller than the legacy company. For FY2025, pro forma continuing net sales were about $19.9 billion versus $37.4 billion as reported, and pro forma net income from continuing operations attributable to Honeywell was about $1.37 billion versus $4.46 billion. Continuing segment profit was $3.5 billion in FY2025 (up from $3.3 billion in FY2024), but segment profit margin on continuing sales is roughly 17.6%. Segment-level trends are mixed: Building Automation grew strongly (FY2025 sales up 13%, organic up 8%), Process Automation grew modestly, while Industrial Automation declined on a reported basis and took a $724 million goodwill impairment in Q4 2025. For investors, the key items are the scale of the remaining company, the capital structure changes (Aerospace issued $16.0 billion of senior notes, of which $13.0 billion was used to repay Honeywell Technologies debt, and $1 billion of cash is retained by Aerospace), and the ongoing relationships set out in the Separation, Tax Matters, and Trademark License agreements. Several figures are preliminary and subject to change in upcoming 10-K and 10-Q filings, so investors should treat the recast numbers as estimates.
  5. 8-KHoneywell International 8-K Report, Executive Changes (Jun 15, 2026)Honeywell's Board of Directors has formally approved the spin-off of Honeywell Aerospace, with the distribution expected to be completed on June 29, 2026. Shareholders of record on June 15, 2026 will receive one share of Honeywell Aerospace common stock for every two shares of Honeywell common stock held, with cash paid in lieu of fractional shares. The Form 10 registration statement for Honeywell Aerospace was declared effective by the SEC on June 11, 2026, and the separation remains on track according to management. The remaining company will be renamed Honeywell Technologies and will continue to trade on Nasdaq under the "HON" ticker. The filing also details board changes tied to the separation. Directors Craig Arnold, William Ayer, D. Scott Davis and Deborah Flint will resign effective immediately before the spin-off is consummated, and they are expected to join the board of Honeywell Aerospace. Jillian Evanko resigned from the Honeywell board effective immediately for reasons tied to her other professional commitments. The company states that none of these departures involved any disagreement with its operations, policies or practices. For investors, the key items are the timing and mechanics of the distribution, the ticker transition, and the planned 1-for-2 reverse stock split of Honeywell Technologies stock immediately after the spin-off. Trading mechanics will be split between a "regular-way" market in HON, which carries the right to receive Honeywell Aerospace shares, and an "ex-distribution" market under "HONIV" from approximately June 15 through June 26, 2026. The filing's forward-looking statements caution that completion depends on satisfying or waiving conditions, and that the spin-off could be delayed, not achieve its intended benefits, or affect market prices and tax treatment.
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04—See also

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