Honeywell (HON): analysis in plain words
Is Honeywell cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Honeywell (HON) is listed on the Nasdaq and we classify it in industrials. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Honeywell according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Honeywell (HON) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $228.47 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 11.3x | Price over earnings per share |
| Revenue growth | +1.3% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 18.7% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.2x | Years of operating profit to repay debt |
| Dividend yield | 1.25% | Annual dividend over price |
| Market cap | $72.4 billion | What the stock market values it at |
The Honeywell figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any HON figure that is not available shows as N/A: we do not estimate it.
How Honeywell makes money
Honeywell is an industrial conglomerate. Aerospace Technologies, its largest segment, sells auxiliary power units, avionics and aftermarket parts for commercial and defense aircraft. It also reports Industrial Automation, with sensors, scanners and software for plants and warehouses, and Building Automation, with controls, security and fire safety systems for buildings.
Over the last 12 months, Honeywell brought in revenue of $37.7 billion. For every 100 it sells, Honeywell keeps 37.2 after the direct cost of what it sells (gross margin) and 16.9 after all operating costs (operating margin). With 101,000 full-time employees, that is about $374,000 of revenue per employee.
Honeywell against its sector
To know whether a Honeywell figure is high or low you have to put it next to similar companies. This table compares Honeywell with the median of the 20 industrials companies Fintols covers, with data as of November 4, 2026.
| Figure | Honeywell | industrials median |
|---|---|---|
| P/E | 11.3x | 27.3x (20) |
| Revenue growth | +1.3% | +9.8% (20) |
| Net margin | 18.7% | 13.0% (20) |
| Dividend yield | 1.25% | 1.60% (20) |
| Net debt / EBITDA | 1.2x | 2.1x (20) |
In short, against the typical industrials company, Honeywell trades on a lower P/E, grows more slowly and earns a wider margin. By size, Honeywell ranks number 15 of 15 industrials companies quoted in USD on Fintols.
The bull case for Honeywell
These are the strengths in the Honeywell figures as of November 4, 2026:
- On a P/E basis Honeywell trades cheaper than its sector: 11.3x its annual earnings, against 27.3x for the industrials median (20 companies with data).
- Honeywell earns 44.4% a year on its shareholders' money (return on equity).
- Honeywell generates real cash: $7.0 billion of free cash flow over 12 months, 9.7% of its stock market value.
The main risk for Honeywell
Analysts expect lower Honeywell earnings: its P/E on estimated next-12-month earnings rises to 23.2x, from 11.3x on the last 12 months.
And, like the rest of industrials, Honeywell is exposed to the economic cycle: when industry and trade slow, its orders fall.
Frequently asked questions about Honeywell
Is it a good time to buy Honeywell stock?
Fintols does not tell you whether to buy or sell Honeywell, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Honeywell stock trades at $228.47, 12% below its 52-week high ($260.28) and 17% above its low ($195.87). Its P/E is 11.3x against a industrials median of 27.3x, and 23.2x on the earnings analysts expect over the next 12 months. With Honeywell, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Honeywell pay a dividend?
Yes. As of November 4, 2026, Honeywell pays $2.80 per share a year, which at today's price is a yield of 1.25%. It uses 39% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 2.12%. The industrials median on Fintols is 1.60%.
Is Honeywell stock expensive?
It depends on what you compare it with. On P/E, Honeywell trades at 11.3x its last 12 months of earnings: cheaper than the industrials median (27.3x). Including its debt, Honeywell is valued at 9.1x its EBITDA (EV/EBITDA). A high P/E alone does not make Honeywell expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Honeywell's competitors?
On Fintols we compare Honeywell with Caterpillar, John Deere and Union Pacific, which are also in industrials. As of November 4, 2026, Caterpillar is worth $271.8 billion and trades on a P/E of 23.2; John Deere is worth $182.4 billion and trades on a P/E of 37.6; Union Pacific is worth $183.3 billion and trades on a P/E of 24.1. Each has a side-by-side comparison with Honeywell below.
Honeywell competitors
- Caterpillar (CAT) analysis · Honeywell vs Caterpillar comparison
- John Deere (DE) analysis · Honeywell vs John Deere comparison
- Union Pacific (UNP) analysis · Honeywell vs Union Pacific comparison
To understand Honeywell better
- DCF and WACC Explained: A Practical Valuation Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Honeywell: industrials stocks, S&P 500 companies and S&P 100 companies. Open the full HON analysis with its valuation and scenarios. Educational content about Honeywell, not investment advice.