Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Honeywell International Inc., solvency ratios (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Honeywell International Inc. debt to equity ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Honeywell International Inc. debt to capital ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Honeywell International Inc. debt to assets ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Honeywell International Inc. financial leverage ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Honeywell International Inc. interest coverage ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Equity
Honeywell International Inc., debt to equity calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and other short-term borrowings | 2,085) | 1,933) | 2,828) | 3,555) | 2,717) | 3,434) | 3,487) | 3,526) | 3,542) | 3,559) | 3,573) | 3,568) | 3,597) | 3,550) | 3,531) | 3,528) | 3,516) | 3,422) | 3,558) | 3,514) | ||||||
| Current maturities of long-term debt | 1,796) | 1,670) | 945) | 937) | 1,730) | 1,315) | 3,099) | 3,207) | 1,803) | 3,344) | 1,645) | 1,635) | 2,445) | 985) | 967) | 1,042) | 1,376) | 4,088) | 4,017) | 4,000) | ||||||
| Long-term debt, excluding current maturities | 16,562) | 16,683) | 17,600) | 14,670) | 15,123) | 12,236) | 12,491) | 12,636) | 14,254) | 14,346) | 16,138) | 16,124) | 16,342) | 17,687) | 17,591) | 11,542) | 11,110) | 11,101) | 8,608) | 8,598) | ||||||
| Total debt | 20,443) | 20,286) | 21,373) | 19,162) | 19,570) | 16,985) | 19,077) | 19,369) | 19,599) | 21,249) | 21,356) | 21,327) | 22,384) | 22,222) | 22,089) | 16,112) | 16,002) | 18,611) | 16,183) | 16,112) | ||||||
| Total Honeywell shareowners’ equity | 15,856) | 17,231) | 17,299) | 16,919) | 16,697) | 17,707) | 17,541) | 18,365) | 18,569) | 17,842) | 17,938) | 17,986) | 17,549) | 18,074) | 18,147) | 17,644) | 18,494) | 18,109) | 17,870) | 18,767) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 1.29 | 1.18 | 1.24 | 1.13 | 1.17 | 0.96 | 1.09 | 1.05 | 1.06 | 1.19 | 1.19 | 1.19 | 1.28 | 1.23 | 1.22 | 0.91 | 0.87 | 1.03 | 0.91 | 0.86 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 117.95 | ||||||
| Caterpillar Inc. | 1.94 | 1.81 | 2.07 | 2.04 | 2.33 | 2.34 | 2.35 | 2.20 | 2.29 | 2.21 | 2.23 | 2.30 | 2.42 | 2.55 | 2.81 | 2.61 | 2.58 | 2.54 | 2.45 | 2.32 | ||||||
| Cummins Inc. | 0.76 | 0.70 | 0.74 | 0.81 | 0.88 | 0.97 | 0.51 | 0.49 | 0.49 | 0.49 | 0.50 | 0.50 | 0.52 | 0.53 | 0.53 | 0.47 | 0.32 | 0.34 | 0.27 | 0.31 | ||||||
| Eaton Corp. plc | 0.49 | 0.50 | 0.52 | 0.50 | 0.51 | 0.56 | 0.59 | 0.58 | 0.52 | 0.57 | 0.79 | 0.68 | 0.54 | 0.57 | 0.58 | 0.59 | 0.52 | 0.51 | 0.50 | 0.47 | ||||||
| General Electric Co. | 0.77 | 0.73 | 0.70 | 0.71 | 0.89 | 0.97 | 0.94 | 0.86 | 0.87 | 1.68 | 1.90 | 2.12 | 2.11 | 2.39 | 2.43 | 2.41 | 3.21 | 3.34 | 2.95 | 3.06 | ||||||
| Lockheed Martin Corp. | 2.55 | 1.88 | 1.90 | 1.62 | 1.68 | 0.96 | 1.02 | 1.16 | 1.07 | 1.21 | 1.87 | 1.93 | 2.02 | 2.56 | 3.38 | 3.68 | 4.05 | 3.48 | 4.75 | 5.65 | ||||||
| RTX Corp. | 0.73 | 0.51 | 0.49 | 0.47 | 0.44 | 0.48 | 0.45 | 0.43 | 0.43 | 0.44 | 0.44 | 0.44 | 0.44 | 0.48 | 0.49 | 1.18 | 1.04 | 1.10 | 1.11 | 1.14 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to equity = Total debt ÷ Total Honeywell shareowners’ equity
= 20,443 ÷ 15,856 = 1.29
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Honeywell International Inc. debt to equity ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Debt to Capital
Honeywell International Inc., debt to capital calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and other short-term borrowings | 2,085) | 1,933) | 2,828) | 3,555) | 2,717) | 3,434) | 3,487) | 3,526) | 3,542) | 3,559) | 3,573) | 3,568) | 3,597) | 3,550) | 3,531) | 3,528) | 3,516) | 3,422) | 3,558) | 3,514) | ||||||
| Current maturities of long-term debt | 1,796) | 1,670) | 945) | 937) | 1,730) | 1,315) | 3,099) | 3,207) | 1,803) | 3,344) | 1,645) | 1,635) | 2,445) | 985) | 967) | 1,042) | 1,376) | 4,088) | 4,017) | 4,000) | ||||||
| Long-term debt, excluding current maturities | 16,562) | 16,683) | 17,600) | 14,670) | 15,123) | 12,236) | 12,491) | 12,636) | 14,254) | 14,346) | 16,138) | 16,124) | 16,342) | 17,687) | 17,591) | 11,542) | 11,110) | 11,101) | 8,608) | 8,598) | ||||||
| Total debt | 20,443) | 20,286) | 21,373) | 19,162) | 19,570) | 16,985) | 19,077) | 19,369) | 19,599) | 21,249) | 21,356) | 21,327) | 22,384) | 22,222) | 22,089) | 16,112) | 16,002) | 18,611) | 16,183) | 16,112) | ||||||
| Total Honeywell shareowners’ equity | 15,856) | 17,231) | 17,299) | 16,919) | 16,697) | 17,707) | 17,541) | 18,365) | 18,569) | 17,842) | 17,938) | 17,986) | 17,549) | 18,074) | 18,147) | 17,644) | 18,494) | 18,109) | 17,870) | 18,767) | ||||||
| Total capital | 36,299) | 37,517) | 38,672) | 36,081) | 36,267) | 34,692) | 36,618) | 37,734) | 38,168) | 39,091) | 39,294) | 39,313) | 39,933) | 40,296) | 40,236) | 33,756) | 34,496) | 36,720) | 34,053) | 34,879) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.56 | 0.54 | 0.55 | 0.53 | 0.54 | 0.49 | 0.52 | 0.51 | 0.51 | 0.54 | 0.54 | 0.54 | 0.56 | 0.55 | 0.55 | 0.48 | 0.46 | 0.51 | 0.48 | 0.46 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 1.49 | 1.47 | 1.42 | 1.39 | 1.39 | 1.45 | 1.35 | 1.36 | 1.35 | 1.30 | 1.36 | 1.40 | 1.40 | 1.24 | 1.23 | 1.33 | 1.46 | 1.20 | 1.38 | 0.99 | ||||||
| Caterpillar Inc. | 0.66 | 0.64 | 0.67 | 0.67 | 0.70 | 0.70 | 0.70 | 0.69 | 0.70 | 0.69 | 0.69 | 0.70 | 0.71 | 0.72 | 0.74 | 0.72 | 0.72 | 0.72 | 0.71 | 0.70 | ||||||
| Cummins Inc. | 0.43 | 0.41 | 0.43 | 0.45 | 0.47 | 0.49 | 0.34 | 0.33 | 0.33 | 0.33 | 0.33 | 0.34 | 0.34 | 0.35 | 0.35 | 0.32 | 0.24 | 0.25 | 0.21 | 0.24 | ||||||
| Eaton Corp. plc | 0.33 | 0.33 | 0.34 | 0.34 | 0.34 | 0.36 | 0.37 | 0.37 | 0.34 | 0.36 | 0.44 | 0.40 | 0.35 | 0.36 | 0.37 | 0.37 | 0.34 | 0.34 | 0.33 | 0.32 | ||||||
| General Electric Co. | 0.43 | 0.42 | 0.41 | 0.41 | 0.47 | 0.49 | 0.48 | 0.46 | 0.47 | 0.63 | 0.65 | 0.68 | 0.68 | 0.70 | 0.71 | 0.71 | 0.76 | 0.77 | 0.75 | 0.75 | ||||||
| Lockheed Martin Corp. | 0.72 | 0.65 | 0.66 | 0.62 | 0.63 | 0.49 | 0.50 | 0.54 | 0.52 | 0.55 | 0.65 | 0.66 | 0.67 | 0.72 | 0.77 | 0.79 | 0.80 | 0.78 | 0.83 | 0.85 | ||||||
| RTX Corp. | 0.42 | 0.34 | 0.33 | 0.32 | 0.31 | 0.32 | 0.31 | 0.30 | 0.30 | 0.30 | 0.31 | 0.31 | 0.31 | 0.32 | 0.33 | 0.54 | 0.51 | 0.52 | 0.53 | 0.53 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 20,443 ÷ 36,299 = 0.56
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Honeywell International Inc. debt to capital ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Debt to Assets
Honeywell International Inc., debt to assets calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Commercial paper and other short-term borrowings | 2,085) | 1,933) | 2,828) | 3,555) | 2,717) | 3,434) | 3,487) | 3,526) | 3,542) | 3,559) | 3,573) | 3,568) | 3,597) | 3,550) | 3,531) | 3,528) | 3,516) | 3,422) | 3,558) | 3,514) | ||||||
| Current maturities of long-term debt | 1,796) | 1,670) | 945) | 937) | 1,730) | 1,315) | 3,099) | 3,207) | 1,803) | 3,344) | 1,645) | 1,635) | 2,445) | 985) | 967) | 1,042) | 1,376) | 4,088) | 4,017) | 4,000) | ||||||
| Long-term debt, excluding current maturities | 16,562) | 16,683) | 17,600) | 14,670) | 15,123) | 12,236) | 12,491) | 12,636) | 14,254) | 14,346) | 16,138) | 16,124) | 16,342) | 17,687) | 17,591) | 11,542) | 11,110) | 11,101) | 8,608) | 8,598) | ||||||
| Total debt | 20,443) | 20,286) | 21,373) | 19,162) | 19,570) | 16,985) | 19,077) | 19,369) | 19,599) | 21,249) | 21,356) | 21,327) | 22,384) | 22,222) | 22,089) | 16,112) | 16,002) | 18,611) | 16,183) | 16,112) | ||||||
| Total assets | 61,525) | 61,296) | 62,337) | 59,883) | 62,275) | 60,287) | 62,258) | 63,352) | 64,470) | 64,191) | 63,945) | 63,561) | 64,586) | 63,459) | 63,604) | 57,422) | 58,679) | 60,104) | 57,750) | 58,560) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.33 | 0.33 | 0.34 | 0.32 | 0.31 | 0.28 | 0.31 | 0.31 | 0.30 | 0.33 | 0.33 | 0.34 | 0.35 | 0.35 | 0.35 | 0.28 | 0.27 | 0.31 | 0.28 | 0.28 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 0.38 | 0.39 | 0.39 | 0.41 | 0.42 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.42 | 0.42 | 0.38 | 0.38 | 0.27 | 0.20 | 0.19 | 0.15 | 0.12 | ||||||
| Caterpillar Inc. | 0.43 | 0.43 | 0.44 | 0.44 | 0.45 | 0.45 | 0.46 | 0.46 | 0.46 | 0.46 | 0.46 | 0.47 | 0.47 | 0.50 | 0.50 | 0.49 | 0.48 | 0.49 | 0.46 | 0.45 | ||||||
| Cummins Inc. | 0.21 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.18 | 0.17 | 0.18 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.17 | 0.12 | 0.13 | 0.11 | 0.12 | ||||||
| Eaton Corp. plc | 0.24 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.27 | 0.25 | 0.27 | 0.33 | 0.30 | 0.25 | 0.26 | 0.27 | 0.27 | 0.25 | 0.25 | 0.25 | 0.24 | ||||||
| General Electric Co. | 0.13 | 0.13 | 0.13 | 0.14 | 0.17 | 0.17 | 0.18 | 0.18 | 0.18 | 0.27 | 0.27 | 0.29 | 0.30 | 0.31 | 0.32 | 0.32 | 0.34 | 0.35 | 0.34 | 0.34 | ||||||
| Lockheed Martin Corp. | 0.33 | 0.31 | 0.31 | 0.29 | 0.29 | 0.22 | 0.22 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | ||||||
| RTX Corp. | 0.27 | 0.22 | 0.22 | 0.21 | 0.20 | 0.21 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.33 | 0.31 | 0.32 | 0.33 | 0.33 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 20,443 ÷ 61,525 = 0.33
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Honeywell International Inc. debt to assets ratio improved from Q2 2023 to Q3 2023 but then slightly deteriorated from Q3 2023 to Q4 2023. |
Financial Leverage
Honeywell International Inc., financial leverage calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Total assets | 61,525) | 61,296) | 62,337) | 59,883) | 62,275) | 60,287) | 62,258) | 63,352) | 64,470) | 64,191) | 63,945) | 63,561) | 64,586) | 63,459) | 63,604) | 57,422) | 58,679) | 60,104) | 57,750) | 58,560) | ||||||
| Total Honeywell shareowners’ equity | 15,856) | 17,231) | 17,299) | 16,919) | 16,697) | 17,707) | 17,541) | 18,365) | 18,569) | 17,842) | 17,938) | 17,986) | 17,549) | 18,074) | 18,147) | 17,644) | 18,494) | 18,109) | 17,870) | 18,767) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 3.88 | 3.56 | 3.60 | 3.54 | 3.73 | 3.40 | 3.55 | 3.45 | 3.47 | 3.60 | 3.56 | 3.53 | 3.68 | 3.51 | 3.50 | 3.25 | 3.17 | 3.32 | 3.23 | 3.12 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 961.67 | ||||||
| Caterpillar Inc. | 4.49 | 4.24 | 4.68 | 4.61 | 5.16 | 5.19 | 5.16 | 4.82 | 5.02 | 4.85 | 4.85 | 4.87 | 5.11 | 5.13 | 5.57 | 5.35 | 5.38 | 5.22 | 5.34 | 5.10 | ||||||
| Cummins Inc. | 3.62 | 3.01 | 3.07 | 3.27 | 3.38 | 3.55 | 2.80 | 2.86 | 2.80 | 2.85 | 2.87 | 2.83 | 2.81 | 2.80 | 2.82 | 2.84 | 2.63 | 2.61 | 2.45 | 2.54 | ||||||
| Eaton Corp. plc | 2.02 | 2.03 | 2.05 | 2.04 | 2.06 | 2.14 | 2.15 | 2.12 | 2.07 | 2.14 | 2.39 | 2.27 | 2.13 | 2.14 | 2.14 | 2.17 | 2.04 | 2.01 | 1.98 | 1.95 | ||||||
| General Electric Co. | 5.96 | 5.47 | 5.23 | 5.20 | 5.16 | 5.75 | 5.35 | 4.92 | 4.93 | 6.33 | 7.09 | 7.30 | 7.13 | 7.64 | 7.62 | 7.43 | 9.40 | 9.42 | 8.71 | 8.96 | ||||||
| Lockheed Martin Corp. | 7.67 | 6.11 | 6.17 | 5.66 | 5.71 | 4.35 | 4.53 | 5.15 | 4.64 | 5.38 | 7.99 | 8.15 | 8.43 | 10.25 | 13.22 | 14.29 | 15.20 | 12.66 | 16.79 | 19.34 | ||||||
| RTX Corp. | 2.71 | 2.33 | 2.24 | 2.22 | 2.19 | 2.25 | 2.26 | 2.20 | 2.21 | 2.23 | 2.23 | 2.24 | 2.25 | 2.37 | 2.40 | 3.54 | 3.34 | 3.44 | 3.41 | 3.46 | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Financial leverage = Total assets ÷ Total Honeywell shareowners’ equity
= 61,525 ÷ 15,856 = 3.88
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Honeywell International Inc. financial leverage ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 exceeding Q2 2023 level. |
Interest Coverage
Honeywell International Inc., interest coverage calculation (quarterly data)
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Net income attributable to Honeywell | 1,263) | 1,514) | 1,487) | 1,394) | 1,019) | 1,552) | 1,261) | 1,134) | 1,428) | 1,257) | 1,430) | 1,427) | 1,359) | 758) | 1,081) | 1,581) | 1,562) | 1,624) | 1,541) | 1,416) | ||||||
| Add: Net income attributable to noncontrolling interest | (15) | 1) | 14) | 14) | 2) | (3) | 2) | —) | 14) | 16) | 17) | 21) | 20) | 23) | 18) | 25) | 28) | 24) | 15) | 20) | ||||||
| Add: Income tax expense | 258) | 452) | 403) | 374) | 168) | 432) | 441) | 371) | 351) | 427) | 434) | 413) | 331) | 367) | 120) | 329) | 178) | 319) | 426) | 406) | ||||||
| Add: Interest and other financial charges | 202) | 206) | 187) | 170) | 144) | 98) | 87) | 85) | 80) | 90) | 83) | 90) | 95) | 101) | 90) | 73) | 91) | 96) | 85) | 85) | ||||||
| Earnings before interest and tax (EBIT) | 1,708) | 2,173) | 2,091) | 1,952) | 1,333) | 2,079) | 1,791) | 1,590) | 1,873) | 1,790) | 1,964) | 1,951) | 1,805) | 1,249) | 1,309) | 2,008) | 1,859) | 2,063) | 2,067) | 1,927) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Interest coverage1 | 10.36 | 10.68 | 12.45 | 14.34 | 16.41 | 20.95 | 20.60 | 21.35 | 22.09 | 20.98 | 18.89 | 16.79 | 17.75 | 18.10 | 20.68 | 23.18 | 22.17 | — | — | — | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||
| Boeing Co. | 0.18 | -0.06 | -0.85 | -0.53 | -0.98 | -2.54 | -1.40 | -1.31 | -0.88 | -2.29 | -2.55 | -4.26 | -5.71 | -3.83 | -3.86 | -6.13 | -2.19 | — | — | — | ||||||
| Caterpillar Inc. | 26.66 | 24.81 | 23.80 | 21.33 | 20.80 | 22.05 | 20.08 | 19.10 | 17.88 | 14.11 | 11.79 | 9.28 | 8.80 | 9.94 | 13.07 | 17.44 | 19.62 | — | — | — | ||||||
| Cummins Inc. | 5.34 | 10.82 | 11.07 | 13.16 | 15.17 | 19.51 | 25.97 | 26.46 | 25.78 | 26.19 | 26.97 | 24.49 | 24.38 | 23.22 | 23.71 | 27.44 | 27.00 | — | — | — | ||||||
| Eaton Corp. plc | 26.34 | 22.25 | 19.68 | 19.85 | 21.22 | 21.33 | 24.31 | 22.57 | 21.11 | 20.08 | 15.71 | 11.87 | 12.72 | 11.39 | 11.72 | 13.79 | 11.98 | — | — | — | ||||||
| General Electric Co. | 10.12 | 9.41 | 8.49 | 6.73 | 1.88 | -1.66 | -1.16 | -1.49 | -0.96 | 2.15 | 1.11 | 0.65 | 2.59 | 2.16 | 2.11 | 2.64 | 1.27 | — | — | — | ||||||
| Lockheed Martin Corp. | 9.84 | 10.42 | 11.74 | 10.58 | 11.72 | 13.31 | 10.88 | 14.12 | 14.27 | 13.67 | 15.97 | 15.44 | 14.93 | 14.16 | 13.35 | 12.63 | 12.09 | — | — | — | ||||||
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q4 2023 Calculation
Interest coverage
= (EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023
+ EBITQ1 2023)
÷ (Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023
+ Interest expenseQ1 2023)
= (1,708 + 2,173 + 2,091 + 1,952)
÷ (202 + 206 + 187 + 170)
= 10.36
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Honeywell International Inc. interest coverage ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |