Honeywell traces its roots to 1885 with Albert Butz's firm, Butz Thermo-Electric Regulator, which produced a predecessor to the modern thermostat. Other inventions by Honeywell include biodegradable detergent and autopilot. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace technologies (37% of 2023 company revenue), industrial automation (29%), energy and sustainability solutions (17%), and building automation (17%). Recently, Honeywell has made several portfolio changes to focus on fewer end markets and align with a set of secular growth trends. The firm is working diligently to expand its installed base, deriving around 30% of its revenue from recurring aftermarket services.

Financial Strength

4/10

Name	Current	Vs Industry
Cash-To-Debt	0.35
Equity-to-Asset	0.24
Debt-to-Equity	1.77
Debt-to-EBITDA	3.28
Interest Coverage	7.64
Piotroski F-Score	7/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	3.44	Distress Grey Safe
Beneish M-Score	-2.59	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

4/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	6.1
	3-Year EBITDA Growth Rate	9.5
	3-Year EPS without NRI Growth Rate	10.4
	3-Year FCF Growth Rate	-4.8
	3-Year Book Growth Rate	-1.2
	Future 3-5Y EPS without NRI Growth Rate Estimate	7.42
	Future 3-5Y Total Revenue Growth Rate Estimate	6.3

Momentum Rank

	Name	Current	Vs Industry		Vs History
	5-Day RSI	46.87
	9-Day RSI	42.64
	14-Day RSI	42.48
	6-1 Month Momentum %	14.19
	12-1 Month Momentum %	52.72

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	1.44
	Quick Ratio	1.12
	Cash Ratio	0.56
	Days Inventory	96.3
	Days Sales Outstanding	74.22
	Days Payable	101.55

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	1.36
	Dividend Payout Ratio	0.01
	3-Year Dividend Growth Rate	4.7
	Forward Dividend Yield %	1.79
	5-Year Yield-on-Cost %	1.84
	3-Year Average Share Buyback Ratio	2.2
	Shareholder Yield %	-0.65

Profitability Rank

6/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	37.6
	Operating Margin %	19.56
	Net Margin %	15.02
	FCF Margin %	12.96
	ROE %	33.87
	ROA %	8.58
	ROIC %	12.69
	3-Year ROIIC %	937.8
	ROC (Joel Greenblatt) %	109.08
	ROCE %	17.08
	Years of Profitability over Past 10-Year	10

GF Value Rank

10/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	23.97
	Forward PE Ratio	0.71
	PE Ratio without NRI	20.59
	Shiller PE Ratio	25.09
	Price-to-Owner-Earnings	20
	PEG Ratio	10.3
	PS Ratio	3.6
	PB Ratio	7.76
	Price-to-Free-Cash-Flow	24.23
	Price-to-Operating-Cash-Flow	20.16
	EV-to-EBIT	19.02
	EV-to-Forward-EBIT	16.1
	EV-to-EBITDA	16.48
	EV-to-Forward-EBITDA	14.27
	EV-to-Revenue	4.09
	EV-to-Forward-Revenue	3.69
	EV-to-FCF	27.49
	Price-to-Projected-FCF	2.2
	Price-to-Median-PS-Value	1.15
	Earnings Yield (Greenblatt) %	5.26
	FCF Yield %	4.17
	Forward Rate of Return (Yacktman) %	7.7

GF Value: ARS37597.24

BUE:HON

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