Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

$24.99

Price to Book Value (P/BV)
since 2005

Microsoft Excel

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Calculation

Honeywell International Inc., P/BV, long-term trends, calculation

Microsoft Excel

Based on: 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.

Share Price Trends
The share price demonstrated notable fluctuations over the analyzed period. Initially, it showed a gradual increase from $41.27 in early 2006 to a peak of $70.11 by early 2013. Subsequently, a strong upward trend was observed, culminating in a high of $203.57 in early 2021. However, following this peak, the share price experienced some volatility, declining to $186.99 in early 2022 before recovering slightly to $202.75 by early 2025. This overall pattern indicates significant growth in market valuation with periods of correction and consolidation.
Book Value Per Share (BVPS) Trends
Book value per share exhibited a more moderate and steady increase compared to the share price. Starting at $13.55 in early 2006, BVPS showed occasional declines but generally rose over time, reaching $28.65 by early 2025. Notable dips occurred around 2009 and again in 2018 and 2019, but these were followed by recoveries. The long-term upward trend in BVPS indicates consistent growth in the company's net asset base on a per-share basis.
Price to Book Value (P/BV) Ratio Trends
The P/BV ratio reflected changing investor sentiment and market valuation relative to the company's book value. Initially, the ratio moved between 3.05 and 4.63, suggesting moderate premiums over book value. From 2013 onward, there was a noticeable increase in the P/BV ratio, reaching peaks above 8.0 in early 2021 and early 2023, indicating the market priced shares at a significant premium relative to book value. A slight decline to 7.08 by early 2025 suggests a modest correction yet still reflects strong investor confidence compared to earlier years.
Overall Insights
The analyzed data reveals strong share price appreciation substantially outpacing growth in book value, resulting in elevated P/BV ratios in recent years. This suggests heightened market optimism and potential expectations of future earnings growth or improved profitability beyond the book asset base. Periods of share price volatility and P/BV fluctuations may correspond to market cycles or company-specific developments, underscoring the importance of monitoring valuation metrics in conjunction with underlying asset values.

Comparison to Competitors

Honeywell International Inc., P/BV, long-term trends, comparison to competitors

Microsoft Excel

Based on: 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)


Comparison to Industry (Industrials)