Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Honeywell International Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 6.18 5.86 6.89 7.89 6.84
Net fixed asset turnover (including operating lease, right-of-use asset) 5.28 5.15 6.12 7.89 6.84
Total asset turnover 0.53 0.51 0.63 0.72 0.68
Equity turnover 1.85 1.86 1.98 2.30 2.35

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Honeywell International Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Honeywell International Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Honeywell International Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Honeywell International Inc. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover

Honeywell International Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 34,392 32,637 36,709 41,802 40,534
Property, plant and equipment, net 5,562 5,570 5,325 5,296 5,926
Long-term Activity Ratio
Net fixed asset turnover1 6.18 5.86 6.89 7.89 6.84
Benchmarks
Net Fixed Asset Turnover, Competitors2
3M Co. 3.75 3.42 3.44 3.75 3.57
Boeing Co. 5.70 4.92 6.12 8.00 7.37
Caterpillar Inc. 3.99 3.15 3.93 3.82 3.01
General Electric Co. 5.47 1.75 2.02 2.24 2.10
Lockheed Martin Corp. 8.83 9.07 9.07 8.78 8.84
Raytheon Technologies Corp. 4.30 3.78 6.04 5.41 5.87
Net Fixed Asset Turnover, Sector
Capital Goods 5.20 3.46 4.09 4.22 3.88
Net Fixed Asset Turnover, Industry
Industrials 2.41 1.94 2.26 2.40 2.29

Based on: 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).

1 2021 Calculation
Net fixed asset turnover = Net sales ÷ Property, plant and equipment, net
= 34,392 ÷ 5,562 = 6.18

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Honeywell International Inc. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Honeywell International Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 34,392 32,637 36,709 41,802 40,534
 
Property, plant and equipment, net 5,562 5,570 5,325 5,296 5,926
Operating lease right-of-use (ROU) assets (included in Other assets) 947 773 673
Property, plant and equipment, net (including operating lease, right-of-use asset) 6,509 6,343 5,998 5,296 5,926
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.28 5.15 6.12 7.89 6.84
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
3M Co. 3.44 3.13 3.15 3.75 3.57
Boeing Co. 5.04 4.45 5.59 8.00 7.37
Caterpillar Inc. 3.79 3.00 3.75 3.82 3.01
General Electric Co. 4.55 1.63 1.89 2.24 2.10
Lockheed Martin Corp. 7.54 7.96 7.88 8.78 8.84
Raytheon Technologies Corp. 3.80 3.36 5.02 5.41 5.87
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 4.59 3.18 3.74 4.22 3.88
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.10 1.72 2.09 2.32 2.29

Based on: 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).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 34,392 ÷ 6,509 = 5.28

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Honeywell International Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Total Asset Turnover

Honeywell International Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 34,392 32,637 36,709 41,802 40,534
Total assets 64,470 64,586 58,679 57,773 59,387
Long-term Activity Ratio
Total asset turnover1 0.53 0.51 0.63 0.72 0.68
Benchmarks
Total Asset Turnover, Competitors2
3M Co. 0.75 0.68 0.72 0.90 0.83
Boeing Co. 0.45 0.38 0.57 0.86 1.01
Caterpillar Inc. 0.58 0.50 0.65 0.66 0.55
General Electric Co. 0.36 0.29 0.33 0.37 0.30
Lockheed Martin Corp. 1.32 1.29 1.26 1.20 1.10
Raytheon Technologies Corp. 0.40 0.35 0.55 0.50 0.62
Total Asset Turnover, Sector
Capital Goods 0.51 0.44 0.55 0.59 0.55
Total Asset Turnover, Industry
Industrials 0.59 0.50 0.62 0.65 0.62

Based on: 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).

1 2021 Calculation
Total asset turnover = Net sales ÷ Total assets
= 34,392 ÷ 64,470 = 0.53

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Honeywell International Inc. total asset turnover ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021.

Equity Turnover

Honeywell International Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net sales 34,392 32,637 36,709 41,802 40,534
Total Honeywell shareowners’ equity 18,569 17,549 18,494 18,180 17,276
Long-term Activity Ratio
Equity turnover1 1.85 1.86 1.98 2.30 2.35
Benchmarks
Equity Turnover, Competitors2
3M Co. 2.35 2.50 3.19 3.34 2.74
Boeing Co. 298.31 263.08
Caterpillar Inc. 2.92 2.55 3.48 3.69 3.12
General Electric Co. 1.76 2.05 3.09 3.66 1.76
Lockheed Martin Corp. 6.12 10.87 19.13 38.57
Raytheon Technologies Corp. 0.88 0.78 1.84 1.73 2.02
Equity Turnover, Sector
Capital Goods 2.40 2.53 3.90 4.08 3.18
Equity Turnover, Industry
Industrials 2.88 3.05 4.06 4.03 3.22

Based on: 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).

1 2021 Calculation
Equity turnover = Net sales ÷ Total Honeywell shareowners’ equity
= 34,392 ÷ 18,569 = 1.85

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Honeywell International Inc. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.