Common-Size Balance Sheet: Assets
Quarterly Data
Honeywell International Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-09-30), 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The asset composition of the organization exhibits a significant structural shift over the analyzed period, transitioning from a more liquid profile toward a heavier concentration of noncurrent and intangible assets. While current assets maintained a relatively stable proportion of total assets between 36% and 42% for several years, a sharp contraction occurred in the final quarter, where current assets fell to 26.96%.
- Liquidity and Working Capital Trends
- Cash and cash equivalents showed a general downward trajectory from a peak of 18.44% in early 2021, stabilizing largely between 12% and 15% before declining to 10.72% by the end of the period. Accounts receivable remained relatively consistent, typically fluctuating between 9.5% and 13%. Inventories demonstrated a gradual increase from 7.25% in March 2021 to a peak of 10.04% in December 2023, followed by a precipitous decline to 3.87% in the final reported quarter, suggesting a substantial change in inventory management or a divestiture of physical stock.
- Intangible Assets and Goodwill
- Goodwill represents a dominant portion of the total asset base, consistently remaining above 25% and reaching a period high of 33.07% in September 2026. Other intangible assets followed a similar upward trend, increasing from approximately 6% in 2021 to 10.25% by the end of the period. This growth in intangibles, combined with the rise in goodwill, indicates an increasing reliance on acquired intellectual property and brand value rather than tangible physical assets.
- Fixed Assets and Long-term Investments
- Property, plant, and equipment (PP&E) experienced a steady decline in its relative weight, falling from 8.73% in March 2021 to 5.10% by September 2026. Conversely, the emergence of equity method investments in early 2026, which grew rapidly from 9.64% to 13.70%, signals a strategic pivot toward strategic partnerships or minority stakes in other entities. Assets held for sale appeared intermittently between late 2024 and mid-2026, peaking at 3.38% before being eliminated from the balance sheet.
- Overall Asset Recomposition
- The total proportion of noncurrent assets rose from 59.74% in March 2021 to a peak of 73.04% in September 2026. This shift is primarily driven by the growth in equity method investments and goodwill, offset by the contraction in current assets and the reduction in the relative weight of physical plant and equipment.
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