Price to Book Value (P/BV)
since 2005
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Calculation
Honeywell International Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Honeywell shareowners’ equity1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 10, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 17, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 11, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 12, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 13, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 15, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 16, 2007 | = | ÷ | = | ÷ | |||||||
| Mar 1, 2006 | = | ÷ | = | ÷ |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Honeywell International Inc. Annual Report.
The price-to-book (P/BV) ratio for the period examined exhibits considerable fluctuation, generally trending upwards with notable peaks and valleys. Initial values indicate a P/BV around 3.0 to 4.0, followed by a period of increased volatility and a subsequent rise to levels exceeding 8.0 before settling back down.
- Initial Period (2006-2009)
- The P/BV ratio began at 3.05 and increased to 3.94 within the first two years. A subsequent decline was observed in 2009, reaching 3.38, potentially reflecting market conditions during that period. This initial phase demonstrates moderate valuation relative to book value.
- Stabilization and Growth (2010-2012)
- From 2010 to 2012, the P/BV ratio remained relatively stable, fluctuating between 3.27 and 4.31. This suggests a period of consistent, though not exceptional, investor confidence in the company’s valuation relative to its net asset value.
- Significant Increase (2013-2017)
- A marked increase in the P/BV ratio commenced in 2013, rising from 4.24 to a peak of 6.44 in 2017. This period indicates a substantial shift in market perception, with investors assigning a significantly higher premium to the company’s book value. The ratio’s increase suggests improved market sentiment, potentially driven by positive performance or future growth expectations.
- Fluctuation and Recent Trends (2018-2026)
- Following the peak in 2017, the P/BV ratio experienced fluctuations, decreasing to 5.96 in 2018 before rising again to 8.07 in 2021. A subsequent decrease to 6.91 in 2022 was followed by a rise to 8.11 in 2023. The most recent values show a decrease to 7.08 in 2024 and a substantial increase to 11.09 in 2026. This recent volatility suggests increased sensitivity to market factors or company-specific developments. The final value indicates a significantly elevated valuation relative to book value.
Overall, the P/BV ratio demonstrates a long-term tendency towards higher valuations, punctuated by periods of correction and volatility. The recent increase to 11.09 suggests a potentially optimistic market outlook, but also warrants further investigation to determine the sustainability of this valuation.
Comparison to Competitors
Honeywell International Inc., P/BV, long-term trends, comparison to competitors
| Honeywell International Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | |||||||
| Feb 14, 2025 | |||||||
| Feb 16, 2024 | |||||||
| Feb 10, 2023 | |||||||
| Feb 11, 2022 | |||||||
| Feb 12, 2021 | |||||||
| Feb 14, 2020 | |||||||
| Feb 8, 2019 | |||||||
| Feb 9, 2018 | |||||||
| Feb 10, 2017 | |||||||
| Feb 12, 2016 | |||||||
| Feb 13, 2015 | |||||||
| Feb 14, 2014 | |||||||
| Feb 15, 2013 | |||||||
| Feb 17, 2012 | |||||||
| Feb 11, 2011 | |||||||
| Feb 12, 2010 | |||||||
| Feb 13, 2009 | |||||||
| Feb 15, 2008 | |||||||
| Feb 16, 2007 | |||||||
| Mar 1, 2006 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Honeywell International Inc., P/BV, long-term trends, comparison to sector (capital goods)
| Honeywell International Inc. | Capital Goods | |
|---|---|---|
| Feb 17, 2026 | ||
| Feb 14, 2025 | ||
| Feb 16, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 12, 2021 | ||
| Feb 14, 2020 | ||
| Feb 8, 2019 | ||
| Feb 9, 2018 | ||
| Feb 10, 2017 | ||
| Feb 12, 2016 | ||
| Feb 13, 2015 | ||
| Feb 14, 2014 | ||
| Feb 15, 2013 | ||
| Feb 17, 2012 | ||
| Feb 11, 2011 | ||
| Feb 12, 2010 | ||
| Feb 13, 2009 | ||
| Feb 15, 2008 | ||
| Feb 16, 2007 | ||
| Mar 1, 2006 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Honeywell International Inc., P/BV, long-term trends, comparison to industry (industrials)
| Honeywell International Inc. | Industrials | |
|---|---|---|
| Feb 17, 2026 | ||
| Feb 14, 2025 | ||
| Feb 16, 2024 | ||
| Feb 10, 2023 | ||
| Feb 11, 2022 | ||
| Feb 12, 2021 | ||
| Feb 14, 2020 | ||
| Feb 8, 2019 | ||
| Feb 9, 2018 | ||
| Feb 10, 2017 | ||
| Feb 12, 2016 | ||
| Feb 13, 2015 | ||
| Feb 14, 2014 | ||
| Feb 15, 2013 | ||
| Feb 17, 2012 | ||
| Feb 11, 2011 | ||
| Feb 12, 2010 | ||
| Feb 13, 2009 | ||
| Feb 15, 2008 | ||
| Feb 16, 2007 | ||
| Mar 1, 2006 |
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), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).