Explain this page
Arphra AIPlain-English read on Honeywell International Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $34.39B | $35.47B | $33.01B | $34.72B | $37.44B | $39.39B | $41.75B | $44.01B | $46.82B |
| Cost of revenue | $22.06B | $22.35B | $20.64B | $21.36B | $23.61B | $23.88B | $26.02B | $26.98B | $29.94B |
| Gross profit | $12.33B | $13.12B | $12.37B | $13.36B | $13.83B | $15.15B | $15.72B | $16.94B | $18.04B |
| Gross margin | +35.85% | +36.99% | +37.48% | +38.47% | +36.93% | +38.46% | +37.65% | +38.49% | +38.52% |
| Operating | |||||||||
| Research & development | $1.33B | $1.48B | $1.38B | $1.45B | $1.81B | $1.71B | $1.89B | $1.91B | $2.09B |
| Selling, general & administrative | $4.8B | $5.21B | $4.89B | $5.24B | $5.45B | $5.85B | $6.33B | $6.35B | $6.77B |
| Total operating expenses | $6.13B | $6.69B | $6.26B | $6.69B | $7.26B | $7.56B | $8.14B | $8.25B | $8.77B |
| Operating income | $6.2B | $6.43B | $6.11B | $6.67B | $6.57B | $7.31B | $7.53B | $8.26B | $8.71B |
| Operating margin | +18.03% | +18.12% | +18.51% | +19.21% | +17.54% | +18.55% | +18.04% | +18.76% | +18.60% |
| EBITDA | $8.8B | $8B | $7.94B | $8.44B | $8.21B | $9.15B | $10.06B | $10.58B | $10.78B |
| EBIT | $7.58B | $6.79B | $6.94B | $7.29B | $6.82B | $7.97B | $8.43B | $8.93B | $9.64B |
| Below the line | |||||||||
| Interest expense | $343M | $414M | $749M | $1.05B | $1.34B | $1.13B | $1.21B | $1.27B | $1.38B |
| Interest income | $102M | $138M | $321M | $430M | $369M | $418.36M | $448.16M | $479.79M | $507.96M |
| Other income / expense | $1.04B | -$48M | $81M | -$424M | -$1.09B | — | — | — | — |
| Pre-tax income | $7.24B | $6.38B | $6.19B | $6.24B | $5.48B | $6.61B | $7.3B | $7.68B | $7.85B |
| Income tax expense | $1.63B | $1.41B | $1.26B | $1.25B | $1.01B | $1.34B | $1.37B | $1.44B | $1.58B |
| Earnings | |||||||||
| Net income | $5.54B | $4.97B | $5.66B | $5.71B | $4.73B | $6.07B | $6.4B | $6.61B | $7.34B |
| Net income · continuing ops | $5.61B | $4.97B | $4.93B | $5B | $4.47B | $5.56B | $5.64B | $6.15B | $6.51B |
| Net margin | +16.11% | +14.00% | +17.14% | +16.43% | +12.63% | +15.42% | +15.33% | +15.01% | +15.68% |
| EPS · basic | $8.01 | $7.33 | $8.53 | $8.76 | $7.40 | $10.72 | $11.69 | $12.49 | $14.19 |
| EPS · diluted | $7.91 | $7.27 | $8.47 | $8.71 | $7.36 | $10.51 | $11.47 | $12.60 | $14.00 |
| EPS · low estimate | — | — | — | — | — | $10.28 | $10.99 | $11.77 | $13.68 |
| EPS · high estimate | — | — | — | — | — | $10.67 | $11.92 | $13.47 | $14.30 |
| Shares · basic | 692.3M | 677.1M | 663M | 650.9M | 639M | 639.94M | 645.22M | 637.75M | 635.93M |
| Shares · diluted | 700.4M | 683.1M | 668.2M | 655.3M | 642.8M | 638.03M | 640.5M | 637.24M | 645.43M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 18 | 17 | 14 | 9 |
| Analysts (EPS) | — | — | — | — | — | 15 | 14 | 8 | 6 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro