Honeywell International Inc. (HON) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Conglomerates
EV/EBITDA
↓
21.02
+2% vs avg
5yr avg: 20.69
30Y Low6.7·High28.1
P/FCF
↓
26.91
-8% vs avg
5yr avg: 29.34
30Y Low8.0·High47.5
P/B Ratio
↑
9.53
+18% vs avg
5yr avg: 8.08
30Y Low2.1·High8.5
ROE
↓
27.3%
-9% vs avg
5yr avg: 30.0%
30Y Low-2%·High39%
Debt/EBITDA
↑
4.35
↑+28% vs avg
5yr avg: 3.39
30Y Low0.8·High4.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HON Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Honeywell International Inc. trades at 31.1x earnings, 17% above its 5-year average of 26.6x, sitting at the 93rd percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 22%. On a free-cash-flow basis, the stock trades at 26.9x P/FCF, 8% below the 5-year average of 29.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $145.1B | $125.4B | $148.0B | $140.1B | $146.4B | $146.0B | $151.3B | $129.3B | $99.5B | $113.4B | $86.0B |
| Enterprise Value | $167.2B | $147.5B | $169.7B | $153.7B | $157.3B | $155.7B | $160.2B | $136.9B | $106.4B | $124.2B | $93.9B |
| P/E Ratio → | 31.12 | 26.51 | 25.93 | 24.76 | 29.48 | 26.36 | 31.65 | 21.05 | 14.71 | 73.42 | 17.86 |
| P/S Ratio | 3.88 | 3.35 | 4.26 | 4.25 | 4.13 | 4.25 | 4.63 | 3.52 | 2.38 | 2.80 | 2.19 |
| P/B Ratio | 9.53 | 8.12 | 7.73 | 8.52 | 8.45 | 7.59 | 8.50 | 6.91 | 5.42 | 6.80 | 4.40 |
| P/FCF | 26.91 | 23.25 | 30.01 | 32.58 | 32.47 | 28.40 | 28.53 | 21.34 | 17.75 | 22.97 | 19.53 |
| P/OCF | 22.75 | 19.66 | 24.28 | 26.24 | 27.76 | 24.19 | 24.37 | 18.74 | 15.46 | 19.00 | 15.64 |
P/E links to full P/E history page with 30-year chart
HON EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Honeywell International Inc.'s enterprise value stands at 21.0x EBITDA, roughly in line with its 5-year average of 20.7x. The Industrials sector median is 13.8x, placing the stock at a 52% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.94 | 4.89 | 4.66 | 4.44 | 4.53 | 4.91 | 3.73 | 2.55 | 3.06 | 2.39 |
| EV / EBITDA | 21.02 | 18.54 | 21.70 | 21.61 | 20.61 | 20.98 | 23.92 | 17.24 | 13.61 | 16.74 | 13.26 |
| EV / EBIT | 25.46 | 21.63 | 23.27 | 22.15 | 23.16 | 20.55 | 25.15 | 17.29 | 13.55 | 17.09 | 13.83 |
| EV / FCF | — | 27.35 | 34.40 | 35.74 | 34.89 | 30.28 | 30.22 | 22.60 | 18.98 | 25.17 | 21.33 |
HON Profitability
Margins and return-on-capital ratios measuring operating efficiency
Honeywell International Inc. earns an operating margin of 17.5%, above the Industrials sector average of 4.3%. ROE of 27.3% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 12.6% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9% | 36.9% | 38.5% | 37.5% | 37.0% | 35.9% | 32.1% | 33.7% | 30.5% | 30.6% | 29.6% |
| Operating Margin | 17.5% | 17.5% | 19.2% | 18.5% | 18.1% | 18.0% | 17.5% | 18.7% | 16.0% | 15.5% | 15.4% |
| Net Profit Margin | 12.6% | 12.6% | 16.4% | 17.1% | 14.0% | 16.1% | 14.6% | 16.7% | 16.2% | 3.8% | 12.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 27.3% | 27.3% | 32.0% | 33.5% | 27.2% | 29.9% | 26.2% | 33.1% | 38.6% | 8.5% | 25.2% |
| ROA | 6.3% | 6.3% | 8.3% | 9.1% | 7.8% | 8.6% | 7.8% | 10.6% | 11.5% | 2.7% | 9.3% |
| ROIC | 12.6% | 12.6% | 14.1% | 15.7% | 16.9% | 16.7% | 16.1% | 19.9% | 19.1% | 17.2% | 17.2% |
| ROCE | 12.6% | 12.6% | 13.8% | 14.3% | 14.7% | 13.7% | 13.3% | 17.3% | 16.9% | 16.1% | 17.6% |
HON Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Honeywell International Inc. carries a Debt/EBITDA ratio of 4.3x, which is highly leveraged (34% above the sector average of 3.2x). Net debt stands at $22.1B ($34.6B total debt minus $12.5B cash). Interest coverage of 5.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.24 | 2.24 | 1.68 | 1.31 | 1.19 | 1.07 | 1.30 | 0.89 | 0.88 | 1.07 | 0.81 |
| Debt / EBITDA | 4.35 | 4.35 | 4.12 | 3.03 | 2.69 | 2.78 | 3.47 | 2.10 | 2.07 | 2.41 | 2.23 |
| Net Debt / Equity | — | 1.43 | 1.13 | 0.83 | 0.63 | 0.50 | 0.50 | 0.41 | 0.38 | 0.65 | 0.41 |
| Net Debt / EBITDA | 2.78 | 2.78 | 2.77 | 1.91 | 1.43 | 1.30 | 1.33 | 0.96 | 0.89 | 1.46 | 1.12 |
| Debt / FCF | — | 4.10 | 4.39 | 3.16 | 2.42 | 1.88 | 1.69 | 1.26 | 1.24 | 2.19 | 1.80 |
| Interest Coverage | 5.07 | 5.07 | 6.96 | 9.27 | 16.41 | 22.09 | 17.75 | 22.17 | 21.40 | 22.99 | 20.09 |
HON Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.32x means Honeywell International Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 1.31 | 1.27 | 1.25 | 1.30 | 1.47 | 1.34 | 1.29 | 1.38 | 1.41 |
| Quick Ratio | 1.05 | 1.05 | 1.01 | 0.93 | 0.98 | 1.04 | 1.23 | 1.10 | 1.06 | 1.13 | 1.14 |
| Cash Ratio | 0.55 | 0.55 | 0.52 | 0.44 | 0.51 | 0.59 | 0.79 | 0.58 | 0.58 | 0.57 | 0.57 |
| Asset Turnover | — | 0.51 | 0.46 | 0.54 | 0.57 | 0.53 | 0.51 | 0.63 | 0.72 | 0.68 | 0.73 |
| Inventory Turnover | 3.83 | 3.83 | 3.32 | 3.34 | 4.04 | 4.29 | 4.94 | 5.51 | 6.71 | 6.10 | 6.34 |
| Days Sales Outstanding | — | 74.29 | 82.21 | 83.26 | 76.57 | 72.49 | 76.35 | 74.50 | 65.56 | 79.84 | 75.94 |
HON Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Honeywell International Inc. returns 4.6% to shareholders annually — split between a 2.0% dividend yield and 2.6% buyback yield. A payout ratio of 62.9% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 2.4% | 2.0% | 2.0% | 1.9% | 1.8% | 1.7% | 1.9% | 2.3% | 1.9% | 2.2% |
| Payout Ratio | 62.9% | 62.9% | 50.9% | 50.5% | 54.8% | 47.4% | 54.2% | 39.8% | 33.6% | 137.2% | 39.8% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 3.8% | 3.9% | 4.0% | 3.4% | 3.8% | 3.2% | 4.8% | 6.8% | 1.4% | 5.6% |
| FCF Yield | 3.7% | 4.3% | 3.3% | 3.1% | 3.1% | 3.5% | 3.5% | 4.7% | 5.6% | 4.4% | 5.1% |
| Buyback Yield | 2.6% | 3.0% | 1.1% | 2.7% | 2.9% | 2.3% | 2.5% | 3.4% | 4.0% | 2.5% | 2.4% |
| Total Shareholder Yield | 4.6% | 5.4% | 3.1% | 4.7% | 4.7% | 4.1% | 4.2% | 5.3% | 6.3% | 4.4% | 4.6% |
| Shares Outstanding | — | $643M | $655M | $668M | $683M | $700M | $711M | $730M | $753M | $772M | $775M |
Peer Comparison
Compare HON with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HONYou | $145B | 31.1 | 21.0 | 26.9 | 36.9% | 17.5% | 27.3% | 12.6% | 4.3 |
 MMM | $84B | 26.8 | 16.8 | 60.0 | 39.6% | 18.3% | 75.2% | 28.1% | 2.4 |
 GE | $374B | 43.8 | 38.2 | 51.4 | 36.8% | 19.1% | 45.3% | 24.7% | 2.1 |
 ETN | $164B | 40.3 | 29.2 | 36.6 | 37.6% | 19.1% | 21.5% | 13.6% | 1.9 |
 EMR | $84B | 37.3 | 19.1 | 31.6 | 52.8% | 19.6% | 9.6% | 8.2% | 2.7 |
 ITW | $76B | 25.2 | 18.3 | 28.1 | 44.1% | 26.3% | 93.7% | 29.0% | 1.9 |
 ROK | $53B | 61.8 | 32.3 | 39.2 | 48.1% | 17.1% | 23.5% | 15.1% | 2.1 |
 PH | $120B | 35.2 | 26.1 | 36.0 | 36.9% | 20.5% | 27.4% | 13.4% | 1.9 |
 RTX | $250B | 37.4 | 21.9 | 31.5 | 20.1% | 10.0% | 10.4% | 6.7% | 3.1 |
 LMT | $118B | 23.8 | 16.0 | 17.0 | 10.2% | 10.3% | 76.9% | 23.9% | 2.6 |
 TDG | $75B | 41.4 | 22.6 | 41.3 | 60.1% | 47.2% | — | 20.9% | 6.6 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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HON — Frequently Asked Questions
Quick answers to the most common questions about buying HON stock.
What is Honeywell International Inc.'s P/E ratio?
Honeywell International Inc.'s current P/E ratio is 31.1x. The historical average is 22.5x. This places it at the 93th percentile of its historical range.
What is Honeywell International Inc.'s EV/EBITDA?
Honeywell International Inc.'s current EV/EBITDA is 21.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
What is Honeywell International Inc.'s ROE?
Honeywell International Inc.'s return on equity (ROE) is 27.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 22.9%.
Is HON stock overvalued?
Based on historical data, Honeywell International Inc. is trading at a P/E of 31.1x. This is at the 93th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Honeywell International Inc.'s dividend yield?
Honeywell International Inc.'s current dividend yield is 2.02% with a payout ratio of 62.9%.
What are Honeywell International Inc.'s profit margins?
Honeywell International Inc. has 36.9% gross margin and 17.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Honeywell International Inc. have?
Honeywell International Inc.'s Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.