Analysis of Inventory
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Inventory Disclosure
Honeywell International Inc., balance sheet: inventory
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished products | |||||||||||
| Inventories |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Overall inventory levels exhibited a general increasing trend from 2021 to 2024, followed by a slight decrease in 2025. Examining the components of inventory reveals differing patterns within raw materials, work in process, and finished goods.
- Raw Materials
- Raw materials inventory increased from US$1,352 million in 2021 to US$1,704 million in 2023, representing a compound annual growth rate of approximately 11.3%. A decrease to US$1,528 million was observed in 2024, followed by a modest recovery to US$1,638 million in 2025. This suggests potential fluctuations in supply chain dynamics or production planning.
- Work in Process
- Work in process inventory demonstrated consistent growth between 2021 and 2024, rising from US$861 million to US$1,346 million. This represents a compound annual growth rate of approximately 14.1%. A decrease to US$1,203 million was noted in 2025, potentially indicating improved production efficiency or a slowdown in ongoing projects.
- Finished Products
- Finished products inventory showed a steady increase from US$2,925 million in 2021 to US$3,568 million in 2024. This represents a compound annual growth rate of approximately 7.7%. A slight decline to US$3,321 million occurred in 2025, which could be attributed to increased sales or a deliberate reduction in finished goods stock.
- Total Inventories
- Total inventories increased from US$5,138 million in 2021 to a peak of US$6,442 million in 2024, before decreasing to US$6,162 million in 2025. The growth from 2021 to 2024 suggests a build-up of inventory across all stages of production. The subsequent decrease in 2025 may indicate a more effective inventory management strategy or a response to changing market conditions.
The consistent growth in work in process and finished goods inventories from 2021 to 2024 warrants further investigation to determine if these increases are aligned with revenue growth and operational efficiency. The decrease in total inventories in 2025 is a positive sign, but continued monitoring is recommended to assess its sustainability.