Forensic Analysis · Aerospace & Defense · as of Nov 9, 2026

Honeywell International Inc (HON)

A forensic read on Honeywell International Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

3.9

Distress distance

Clean

Earnings quality

Forensic signals

29.1%

ROE

7.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Honeywell International Inc earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 3.9, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by shareholder returns.

What the filings flag

125% of FCF

FY2025

Shareholder returns. Returned $6.8B to shareholders (buybacks + dividends) in FY2025 — 125% of free cash flow. That is $1.4B (25%) more than free cash flow covered, and more than operating cash flow as well. Total debt rose $1.9B over FY2025, while cash and short-term investments rose $2.6B, so the borrowing was kept, not spent on the gap. The FY2025 cash-flow statement filed $237M from shares issued; $1.5B from sales and maturities of investments against $1.5B of investments purchased; $31M from sales of property and equipment; net cash used in investing activities of $2.7B; net cash used in financing activities of $2.0B. A payout past free cash flow draws the balance sheet down in every year it continues, which isn't sustainable indefinitely. Counting the $196M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 129%.

$724M

FY2025

Goodwill impairments. Took $724M of goodwill writedowns across 1 year (FY2025 ($724M)) — about 15% of net income over the span. A large writedown means an acquisition turned out worth far less than was paid — a real mark against M&A discipline.

Key fundamentals

Latest Revenue$37.44B

Revenue Growth YoY+7.8%

Revenue CAGR (2yr)+6.5%

Net Margin12.6%

Free Cash Flow$5.42B

Return on Equity29.1%

Debt / Equity2.06x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.