Honeywell International Inc. (HON) Income Statement
HON 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHON revenue and net income
Where HON's revenue goes
2025Each bar shows an amount and its share of revenue. HON kept 12.6% of revenue as net income.
HON profit margins
HON growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +7.8% | +1.8% | +2.8% | −0.3% |
| Gross profit | +3.5% | +1.8% | +5.7% | +1.6% |
| Operating income | −1.5% | +0.7% | +2.9% | −0.4% |
| Net income | −17.1% | −1.6% | −0.2% | −0.1% |
| EPS (diluted) | +9.0% | +6.7% | +8.5% | +5.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HON quarterly EPS vs estimates
Honeywell beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 22, 2026 (estimate $2.17).
HON income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $37.44B | $34.72B | $36.66B | $35.47B | $34.39B | $32.64B | $36.71B | $41.80B | $40.53B | $39.30B |
| Cost of revenue | $23.61B | $21.36B | $23.00B | $22.35B | $22.06B | $22.17B | $24.34B | $29.05B | $28.14B | $27.68B |
| Gross profit | $13.83B | $13.36B | $13.67B | $13.12B | $12.33B | $10.47B | $12.37B | $12.76B | $12.39B | $11.62B |
| Research & development | $1.81B | $1.45B | $1.46B | $1.48B | $1.33B | $1.33B | $1.56B | $1.81B | $1.83B | $2.14B |
| Sales, general & admin | $5.45B | $5.47B | $5.08B | $5.21B | $4.80B | $4.77B | $5.52B | $6.05B | $6.09B | $5.57B |
| Total operating expenses | $7.26B | $6.69B | $6.58B | $6.69B | $6.13B | $4.77B | $5.52B | $6.05B | $6.09B | $5.57B |
| Operating income | $6.57B | $6.67B | $7.08B | $6.43B | $6.20B | $5.70B | $6.85B | $6.71B | $6.30B | $6.05B |
| Interest income | $369.0M | $426.0M | $302.0M | $138.0M | $102.0M | $107.0M | $255.0M | $217.0M | $151.0M | $106.0M |
| Interest expense | $1.34B | $1.05B | $765.0M | $414.0M | $343.0M | $359.0M | $357.0M | $367.0M | $316.0M | $338.0M |
| Income before taxes | $5.48B | $6.24B | $7.16B | $6.38B | $7.24B | $6.01B | $7.56B | $7.49B | $6.95B | $6.45B |
| Income taxes | $1.01B | $1.25B | $1.50B | $1.41B | $1.62B | $1.15B | $1.33B | $659.0M | $5.36B | $1.60B |
| Net income | $4.73B | $5.71B | $5.66B | $4.97B | $5.54B | $4.78B | $6.14B | $6.76B | $1.54B | $4.81B |
| EBITDA | $8.21B | $8.44B | $7.08B | $8.00B | $8.80B | $7.37B | $9.00B | $8.97B | $8.38B | $7.82B |
| EPS (diluted) | $21.34 | $19.58 | $18.34 | $17.56 | $16.10 | $14.20 | $16.32 | $14.11 | $14.22 | $13.06 |
| Gross margin | 36.9% | 38.5% | 37.3% | 37.0% | 35.9% | 32.1% | 33.7% | 30.5% | 30.6% | 29.6% |
| Operating margin | 17.5% | 19.2% | 19.3% | 18.1% | 18.0% | 17.5% | 18.7% | 16.0% | 15.5% | 15.4% |
| Net margin | 12.6% | 16.4% | 15.4% | 14.0% | 16.1% | 14.6% | 16.7% | 16.2% | 3.8% | 12.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.72B | $9.14B | $6.86B | $10.41B | $10.35B | $9.82B | $10.09B | $9.73B | $9.58B | $9.11B | $9.44B | $9.21B |
| Cost of revenue | $6.07B | $5.60B | $4.39B | $6.86B | $6.33B | $6.04B | $6.42B | $5.98B | $5.86B | $5.58B | $6.20B | $5.67B |
| Gross profit | $3.65B | $3.54B | $2.47B | $3.55B | $4.02B | $3.79B | $3.67B | $3.75B | $3.72B | $3.52B | $3.24B | $3.54B |
| Research & development | $524.0M | $492.0M | $395.0M | $497.0M | $481.0M | $439.0M | $426.0M | $368.0M | $382.0M | $360.0M | $360.0M | $364.0M |
| Sales, general & admin | $1.34B | $1.31B | $1.36B | $1.30B | $1.43B | $1.36B | $1.41B | $1.40B | $1.36B | $1.30B | $1.30B | $1.25B |
| Total operating expenses | $1.92B | $2.65B | $1.76B | $1.79B | $1.91B | $1.80B | $1.83B | $1.77B | $1.74B | $1.66B | $1.66B | $1.62B |
| Operating income | $1.74B | $886.0M | $714.0M | $1.75B | $2.11B | $1.99B | $1.84B | $1.98B | $1.98B | $1.86B | $1.58B | $1.93B |
| Interest income | $79.0M | $90.0M | $114.0M | $86.0M | $79.0M | $90.0M | $101.0M | $110.0M | $110.0M | $105.0M | $80.0M | $89.0M |
| Interest expense | $363.0M | $356.0M | $374.0M | $354.0M | $330.0M | $286.0M | $291.0M | $297.0M | $250.0M | $220.0M | $202.0M | $206.0M |
| Income before taxes | $7.53B | $886.0M | −$501.0M | $2.22B | $1.87B | $1.88B | $1.54B | $1.82B | $1.97B | $1.87B | $1.51B | $1.97B |
| Income taxes | $1.58B | $91.0M | −$74.0M | $363.0M | $302.0M | $417.0M | $254.0M | $409.0M | $414.0M | $396.0M | $258.0M | $452.0M |
| Net income | $5.68B | $821.0M | −$115.0M | $1.82B | $1.57B | $1.45B | $1.28B | $1.41B | $1.54B | $1.46B | $1.26B | $1.51B |
| EBITDA | $8.20B | $1.60B | $240.0M | $2.97B | $2.60B | $2.54B | $2.21B | $2.48B | $2.53B | $2.38B | $2.01B | $2.48B |
| EPS (diluted) | $1.95 | $4.90 | $5.18 | $5.64 | $5.50 | $5.02 | $4.94 | $5.16 | $4.98 | $4.50 | $5.20 | $4.54 |
| Gross margin | 37.6% | 38.7% | 36.1% | 34.1% | 38.9% | 38.5% | 36.4% | 38.5% | 38.9% | 38.7% | 34.3% | 38.4% |
| Operating margin | 17.9% | 9.7% | 10.4% | 16.9% | 20.4% | 20.2% | 18.2% | 20.4% | 20.7% | 20.4% | 16.8% | 20.9% |
| Net margin | 58.5% | 9.0% | −1.7% | 17.5% | 15.2% | 14.8% | 12.7% | 14.5% | 16.1% | 16.1% | 13.4% | 16.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HON's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HON financial results
In fiscal year 2025 (ended December 31, 2025), Honeywell reported revenue of $37.4 billion, up 7.8% from the year before. It had net income of $4.7 billion (down 17.1%), a net profit margin of 12.6%. Diluted earnings per share came to $21.34. Over five years revenue grew at an average rate of 2.8% a year.
See the HON stock overview for the latest quote and news, or the HON chart for price history and technical indicators.
HON income statement FAQ
What is Honeywell's annual revenue?
Honeywell reported total revenue of $37.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 7.8% from $34.7 billion the previous year.
Is Honeywell profitable?
Yes. Honeywell reported net income of $4.7 billion in fiscal 2025, a net profit margin of 12.6%; its operating margin was 17.5%.
What is Honeywell's gross margin?
Honeywell's gross margin was 36.9% in fiscal 2025: for every $100 of revenue, Honeywell kept $37 after the direct cost of its products and services.
How much does Honeywell spend on research and development?
Honeywell spent $1.8 billion on research and development in fiscal 2025, 4.8% of revenue.
How fast is Honeywell growing?
Revenue grew 2.8% a year on average over the last five fiscal years, from $32.6 billion to $37.4 billion.
What are Honeywell's earnings per share?
Honeywell earned $21.34 per diluted share in fiscal 2025, compared with $19.58 a year earlier.
When will Honeywell report its next earnings?
Honeywell is expected to report results for the quarter ending September 30, 2026 on October 22, 2026 before the market opens.
When does Honeywell's fiscal year end?
Honeywell's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.