Stock Analysis on Net
Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

Common-Size Balance Sheet: Assets 

Honeywell International Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 14.05 12.88 15.46 17.00 22.10
Short-term investments 0.51 0.28 0.78 0.87 1.46
Accounts receivable, less allowances 10.40 12.24 11.95 10.59 10.57
Inventories 8.57 10.04 8.89 7.97 6.95
Assets held for sale 1.82 0.00 0.00 0.00 0.00
Other current assets 1.77 2.76 3.04 2.92 2.54
Current assets 37.11% 38.20% 40.12% 39.35% 43.62%
Investments and long-term receivables 1.85 1.53 1.52 1.90 1.06
Property, plant and equipment, net 8.24 9.20 8.79 8.63 8.62
Goodwill 29.02 29.34 28.10 27.54 24.86
Other intangible assets, net 8.85 5.25 5.17 5.60 5.51
Insurance recoveries for asbestos-related liabilities 0.23 0.28 0.36 0.50 0.57
Deferred income taxes 0.32 0.64 0.68 0.76 1.18
Other assets 14.38 15.57 15.28 15.72 14.57
Non-current assets 62.89% 61.80% 59.88% 60.65% 56.38%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets has exhibited a consistent downward trend from 22.1% in 2020 to 12.88% in 2023, with a slight recovery observed in 2024 to 14.05%. This indicates a reduction in the company's liquid assets over the period, potentially reflecting increased investment or utilization of cash resources.
Short-term Investments
Short-term investments as a percentage of total assets have decreased overall, dropping from 1.46% in 2020 to a low of 0.28% in 2023, before a modest increase to 0.51% in 2024. This pattern aligns with the downward trend in cash equivalents, suggesting a strategic reduction in highly liquid, short-duration investments.
Accounts Receivable, Less Allowances
The accounts receivable proportion showed a gradual increase from 10.57% in 2020, peaking at 12.24% in 2023, then declining to 10.4% in 2024. This suggests fluctuations in credit sales or collection efficiency, with a peak indicating possibly extended credit terms or slower collection processes, followed by an improvement in 2024.
Inventories
Inventory levels as a percentage of total assets increased steadily from 6.95% in 2020 to a peak of 10.04% in 2023, then decreased to 8.57% in 2024. The rising trend may reflect accumulation of stock or production buildup, while the later decrease indicates improved inventory management or adjustments to sales trends.
Assets Held for Sale
Assets held for sale were recorded only in 2024 at 1.82% of total assets, indicating a potential strategic divestment or discontinuation of certain assets during that year.
Other Current Assets
Other current assets increased slightly from 2.54% in 2020 to a peak of 3.04% in 2022, then steadily decreased to 1.77% in 2024, reflecting variability in miscellaneous current assets, possibly due to changes in accrued expenses, prepaid items, or other short-term assets.
Current Assets
The total current assets proportion declined from 43.62% in 2020 to 37.11% in 2024, consistent with the decreases observed in cash, short-term investments, and other current assets. This suggests a shift towards a greater emphasis on non-current assets or a change in asset allocation strategy.
Investments and Long-term Receivables
This category showed some fluctuations, rising from 1.06% in 2020 to 1.9% in 2021, then decreasing to around 1.5% in subsequent years, but slightly increasing again to 1.85% in 2024. These variations indicate moderate changes in long-term investment and receivable management.
Property, Plant and Equipment, Net
The share of property, plant, and equipment increased marginally from 8.62% in 2020 to a high of 9.2% in 2023, followed by a reduction to 8.24% in 2024. This pattern may indicate capital expenditure increases through 2023, with some depreciation or disposals occurring in 2024.
Goodwill
Goodwill consistently increased from 24.86% in 2020 to a peak of 29.34% in 2023, then slightly decreased to 29.02% in 2024. This steady rise suggests ongoing acquisitions or premium paid for acquisitions, reflecting expansion or restructuring activities.
Other Intangible Assets, Net
This category remained relatively stable around 5.5% through 2023 but experienced a significant jump to 8.85% in 2024. This notable increase may correspond with newly recognized intangible assets such as intellectual property or brand valuation adjustments.
Insurance Recoveries for Asbestos-related Liabilities
The percentage steadily declined from 0.57% in 2020 to 0.23% in 2024, indicating decreasing recoverable insurance claims against asbestos liabilities over time, possibly reflecting resolution of related claims or diminished exposure.
Deferred Income Taxes
Deferred income taxes as a proportion of total assets declined from 1.18% in 2020 to 0.32% in 2024, suggesting reduced temporary differences or changes in tax positions over the period.
Other Assets
Other assets remained relatively stable, fluctuating modestly between 14.38% and 15.72%, indicating consistent holdings of miscellaneous non-current assets throughout the timeline.
Non-current Assets
The share of non-current assets increased from 56.38% in 2020 to 62.89% in 2024, indicating a strategic shift towards long-term asset accumulation or reclassification from current to non-current assets.
Total Assets
Total assets consistently represent 100% as a base measure, serving as the denominator for the above percentages and confirming proportional relationships over time.