Price to Earnings (P/E)
since 2005
Calculation
Honeywell International Inc., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to Honeywell1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | 32.62 | = | 485.30 | ÷ | 14.88 | 14.88 | = | 4,729 | ÷ | 317,837,851 | |
| Feb 14, 2025 | 23.10 | = | 405.50 | ÷ | 17.56 | 17.56 | = | 5,705 | ÷ | 324,959,276 | |
| Feb 16, 2024 | 22.73 | = | 394.34 | ÷ | 17.35 | 17.35 | = | 5,658 | ÷ | 326,090,906 | |
| Feb 10, 2023 | 26.97 | = | 400.94 | ÷ | 14.87 | 14.87 | = | 4,966 | ÷ | 334,070,126 | |
| Feb 11, 2022 | 23.14 | = | 373.98 | ÷ | 16.16 | 16.16 | = | 5,542 | ÷ | 342,909,386 | |
| Feb 12, 2021 | 29.63 | = | 407.14 | ÷ | 13.74 | 13.74 | = | 4,779 | ÷ | 347,750,580 | |
| Feb 14, 2020 | 20.97 | = | 361.62 | ÷ | 17.24 | 17.24 | = | 6,143 | ÷ | 356,299,902 | |
| Feb 8, 2019 | 16.02 | = | 297.22 | ÷ | 18.56 | 18.56 | = | 6,765 | ÷ | 364,542,945 | |
| Feb 9, 2018 | 67.20 | = | 295.80 | ÷ | 4.40 | 4.40 | = | 1,655 | ÷ | 376,001,017 | |
| Feb 10, 2017 | 19.29 | = | 243.70 | ÷ | 12.64 | 12.64 | = | 4,809 | ÷ | 380,597,121 | |
| Feb 12, 2016 | 16.70 | = | 206.96 | ÷ | 12.40 | 12.40 | = | 4,768 | ÷ | 384,661,455 | |
| Feb 13, 2015 | 19.27 | = | 208.76 | ÷ | 10.83 | 10.83 | = | 4,239 | ÷ | 391,331,524 | |
| Feb 14, 2014 | 18.91 | = | 189.22 | ÷ | 10.01 | 10.01 | = | 3,924 | ÷ | 392,065,810 | |
| Feb 15, 2013 | 18.78 | = | 140.22 | ÷ | 7.47 | 7.47 | = | 2,926 | ÷ | 391,893,947 | |
| Feb 17, 2012 | 22.54 | = | 120.20 | ÷ | 5.33 | 5.33 | = | 2,067 | ÷ | 387,681,866 | |
| Feb 11, 2011 | 22.48 | = | 115.96 | ÷ | 5.16 | 5.16 | = | 2,022 | ÷ | 392,061,144 | |
| Feb 12, 2010 | 13.44 | = | 75.72 | ÷ | 5.63 | 5.63 | = | 2,153 | ÷ | 382,276,106 | |
| Feb 13, 2009 | 8.71 | = | 66.12 | ÷ | 7.60 | 7.60 | = | 2,792 | ÷ | 367,590,518 | |
| Feb 15, 2008 | 17.07 | = | 112.08 | ÷ | 6.57 | 6.57 | = | 2,444 | ÷ | 372,191,467 | |
| Feb 16, 2007 | 18.37 | = | 95.66 | ÷ | 5.21 | 5.21 | = | 2,083 | ÷ | 399,963,818 | |
| Mar 1, 2006 | 20.71 | = | 82.54 | ÷ | 3.99 | 3.99 | = | 1,655 | ÷ | 415,305,749 |
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 financial trajectory from 2006 to 2026 is characterized by a sustained long-term increase in share price and general growth in earnings per share, although the valuation multiples exhibit significant periods of volatility.
- Share Price Trends
- An overall upward trend is observed, with the share price rising from 82.54 USD in 2006 to a projected 485.30 USD by 2026. A notable contraction occurred in 2009, where the price fell to 66.12 USD, followed by a consistent recovery and acceleration in value starting in 2010.
- Earnings Per Share (EPS) Performance
- EPS demonstrated general growth, ascending from 3.99 USD in 2006 to a peak of 18.56 USD in 2019. However, this growth was interrupted by a sharp decline in 2018 to 4.40 USD and a projected decline to 14.88 USD by 2026, indicating periodic volatility in profitability.
- Price-to-Earnings (P/E) Ratio Analysis
- The P/E ratio has fluctuated significantly, reflecting shifts in market sentiment and earnings stability. A historical low of 8.71 was recorded in 2009, coinciding with the share price trough. A major anomaly occurred in 2018, where the P/E ratio spiked to 67.20, driven by a substantial decrease in EPS while the share price continued to rise.
- Recent Valuation Dynamics
- Since 2019, the P/E ratio has largely stabilized above its early-2010s average, moving from 16.02 in 2019 to a projected 32.62 by 2026. This suggests an expansion in the valuation multiple, where the market is assigning a higher premium to each dollar of earnings compared to the 2006-2017 period.
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Comparison to Competitors
Honeywell International Inc., P/E, 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 | 32.62 | 97.12 | 40.55 | 35.55 | 36.01 | 28.55 | 39.61 |
| Feb 14, 2025 | 23.10 | — | 15.65 | 30.00 | 33.42 | 20.18 | 36.25 |
| Feb 16, 2024 | 22.73 | — | 15.55 | 35.88 | 16.18 | 15.35 | 38.31 |
| Feb 10, 2023 | 26.97 | — | 19.15 | 27.93 | — | 20.48 | 27.59 |
| Feb 11, 2022 | 23.14 | — | 16.82 | 27.77 | — | 16.70 | 36.79 |
| Feb 12, 2021 | 29.63 | — | 36.80 | 37.46 | 19.67 | 13.44 | — |
| Feb 14, 2020 | 20.97 | — | 12.36 | 18.06 | — | 19.87 | 24.41 |
| Feb 8, 2019 | 16.02 | 21.87 | 12.42 | 15.92 | — | 16.88 | 19.74 |
| Feb 9, 2018 | 67.20 | 24.68 | 126.80 | 11.90 | — | 48.70 | 21.97 |
| Feb 10, 2017 | 19.29 | 20.50 | — | 16.96 | 32.22 | 14.14 | 17.55 |
| Feb 12, 2016 | 16.70 | 14.89 | 18.07 | 13.17 | — | 18.36 | 9.31 |
| Feb 13, 2015 | 19.27 | 19.15 | 14.01 | 18.73 | 17.17 | 16.86 | 17.52 |
| Feb 14, 2014 | 18.91 | 21.10 | 16.25 | 19.35 | 19.59 | 17.56 | 17.51 |
| Feb 15, 2013 | 18.78 | 14.71 | 11.02 | 23.99 | 17.57 | 10.34 | 16.07 |
| Feb 17, 2012 | 22.54 | 14.09 | 15.11 | 12.83 | 15.52 | 10.81 | 15.29 |
| Feb 11, 2011 | 22.48 | 16.17 | 24.14 | 19.59 | 19.49 | 9.58 | 17.84 |
| Feb 12, 2010 | 13.44 | 33.40 | 40.66 | 29.60 | 16.09 | 9.56 | 16.33 |
| Feb 13, 2009 | 8.71 | 11.63 | 4.51 | 5.65 | 6.62 | 8.47 | 9.57 |
| Feb 15, 2008 | 17.07 | 15.99 | 12.54 | 11.89 | 15.45 | 14.15 | 16.61 |
| Feb 16, 2007 | 18.37 | 32.40 | 12.28 | 12.47 | 17.11 | 16.95 | 18.16 |
| Mar 1, 2006 | 20.71 | 22.62 | 17.17 | 12.82 | 21.07 | 17.45 | 18.76 |
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/E, long-term trends, comparison to sector (capital goods)
| Honeywell International Inc. | Capital Goods | |
|---|---|---|
| Feb 17, 2026 | 32.62 | 39.12 |
| Feb 14, 2025 | 23.10 | 41.71 |
| Feb 16, 2024 | 22.73 | 25.10 |
| Feb 10, 2023 | 26.97 | 40.21 |
| Feb 11, 2022 | 23.14 | 57.31 |
| Feb 12, 2021 | 29.63 | 123.55 |
| Feb 14, 2020 | 20.97 | 39.03 |
| Feb 8, 2019 | 16.02 | 56.00 |
| Feb 9, 2018 | 67.20 | 55.16 |
| Feb 10, 2017 | 19.29 | 23.62 |
| Feb 12, 2016 | 16.70 | 33.10 |
| Feb 13, 2015 | 19.27 | 17.47 |
| Feb 14, 2014 | 18.91 | 18.85 |
| Feb 15, 2013 | 18.78 | 15.74 |
| Feb 17, 2012 | 22.54 | 15.20 |
| Feb 11, 2011 | 22.48 | 18.46 |
| Feb 12, 2010 | 13.44 | 17.22 |
| Feb 13, 2009 | 8.71 | 7.48 |
| Feb 15, 2008 | 17.07 | 15.28 |
| Feb 16, 2007 | 18.37 | 17.63 |
| Mar 1, 2006 | 20.71 | 20.11 |
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/E, long-term trends, comparison to industry (industrials)
| Honeywell International Inc. | Industrials | |
|---|---|---|
| Feb 17, 2026 | 32.62 | 29.14 |
| Feb 14, 2025 | 23.10 | 28.42 |
| Feb 16, 2024 | 22.73 | 24.85 |
| Feb 10, 2023 | 26.97 | 36.06 |
| Feb 11, 2022 | 23.14 | 35.59 |
| Feb 12, 2021 | 29.63 | — |
| Feb 14, 2020 | 20.97 | 43.95 |
| Feb 8, 2019 | 16.02 | 33.70 |
| Feb 9, 2018 | 67.20 | 29.83 |
| Feb 10, 2017 | 19.29 | 22.92 |
| Feb 12, 2016 | 16.70 | 22.89 |
| Feb 13, 2015 | 19.27 | 18.79 |
| Feb 14, 2014 | 18.91 | 19.13 |
| Feb 15, 2013 | 18.78 | 17.77 |
| Feb 17, 2012 | 22.54 | 15.75 |
| Feb 11, 2011 | 22.48 | 18.72 |
| Feb 12, 2010 | 13.44 | 19.17 |
| Feb 13, 2009 | 8.71 | 9.73 |
| Feb 15, 2008 | 17.07 | 16.93 |
| Feb 16, 2007 | 18.37 | 11.65 |
| Mar 1, 2006 | 20.71 | 50.62 |
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).