Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
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Honeywell International Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
The financial data reveals several notable trends and fluctuations across the quarterly periods. Net sales exhibit an overall increasing trend from early 2020 through mid-2025, with some fluctuations reflecting seasonal or market variations. Product sales, while showing some periods of decline, generally maintain a relatively stable pattern with moderate growth towards the later quarters. Service sales demonstrate more consistent growth over time, indicating a strengthening services segment contributing positively to total sales.
The cost structure illustrates variability, with the cost of products sold showing some reduction in certain quarters but generally maintaining a steady relationship to product sales. The cost of services sold has increased gradually, consistent with the rise in service sales. Overall, the combined cost of products and services sold rose, but gross profit also increased, reflecting effective management of cost relative to sales volume.
Gross profit margins appear to improve steadily, particularly from 2021 onward, suggesting enhanced profitability and operational efficiency. Research and development expenses, where data is available, remain fairly constant but show a slight upward trend towards the end periods, indicating ongoing investment in innovation. Selling, general, and administrative expenses fluctuate mildly, without a clear trend, although some quarters show increases that may relate to scaling operations or inflationary pressures.
Operating income mirrors the gross profit trends with certain fluctuations, registering peaks and troughs that align with changes in sales and expense patterns. The impairment of assets held for sale surfaces in late periods with modest values, possibly reflecting asset revaluation or write-downs. Other income (expense) figures vary significantly quarter-to-quarter, introducing volatility to overall income before taxes.
Interest and other financial charges increase over time, which could be indicative of higher debt levels or increased borrowing costs. Despite this, income before taxes maintains a generally upward trajectory, though some quarters experience sharp declines, likely tied to extraordinary items or cyclical effects.
Tax expense fluctuates substantially, at times not proportionally aligned with pre-tax income, possibly due to changes in tax rates, deferred tax positions, or discrete tax events. Net income follows a rising trend in the longer term, aligning with the growth in operating results and revenue, notwithstanding occasional reductions in specific quarters. The net income attributable to the company aligns closely with total net income, with minimal impact from noncontrolling interests.
- Net Sales
- Showing overall growth with seasonal fluctuations; service sales contribute increasingly to total revenue.
- Cost of Products and Services Sold
- Increasing in absolute terms but gross profit growth suggests maintained or improved margin management.
- Gross Profit
- Demonstrates steady improvement, supporting enhanced profitability through the periods analyzed.
- Operating Expenses
- Research and development expenses slightly increase; selling and administrative costs remain relatively stable with minor fluctuations.
- Operating Income
- Follows gross profit trends with some variability, indicating operational performance sensitivity to sales and costs.
- Other Income and Expenses
- Presents volatility adding unpredictability to income before taxes across quarters.
- Interest and Financial Charges
- Gradual increase points toward possible rising debt or financing costs.
- Income Before Taxes
- Generally grows with some intermittent declines, reflecting business cycle effects and financial charges.
- Tax Expense
- Varies significantly, occasionally not tracking proportionally with income before taxes, indicating tax management effects.
- Net Income
- Sustained growth over time, consistent with improving operating performance and revenue trends.