Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Honeywell International Inc., consolidated balance sheet: assets
US$ in millions
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).
The data reveals various trends in the financial position over the five-year period under review. There is a noticeable fluctuation in liquidity components, with cash and cash equivalents declining from 14,275 million US dollars in 2020 to a low of 7,925 million in 2023, before recovering to 10,567 million in 2024. Short-term investments show a consistent decrease from 945 million in 2020 to 170 million in 2023, then a slight increase to 386 million in 2024, indicating a potential reduction in easily accessible liquid assets during this time frame.
Receivables and inventory figures display gradual growth, with accounts receivable increasing steadily from 6,827 million in 2020 to 7,819 million in 2024, and inventories rising from 4,489 million to 6,442 million in the same period. This suggests an expansion in operational scale or changes in working capital management. Other current assets decline after peaking in 2021 at 1,881 million, decreasing to 1,329 million by 2024. The appearance of assets held for sale in 2024 at 1,365 million represents a new asset category recorded that year.
Current assets collectively drop from 28,175 million in 2020 to 23,502 million in 2023, before rebounding to 27,908 million in 2024. This pattern aligns with the movements in cash equivalents and short-term investments, affecting the overall short-term financial resource availability.
Regarding non-current assets, investments and long-term receivables increase from 685 million in 2020 to 1,394 million in 2024, reflecting possible strategic investment growth. Property, plant, and equipment remain relatively stable, with a slight decrease from 5,570 million in 2020 to 5,471 million in 2022, followed by steady increases reaching 6,194 million in 2024, potentially indicating capital expenditures or asset upgrades.
Goodwill shows a significant rise, growing from 16,058 million in 2020 to 21,825 million in 2024. This substantial increase may point to acquisitions or revaluation adjustments. Similarly, other intangible assets remain relatively consistent around 3,500 million initially, then surge to 6,656 million in 2024, demonstrating investments in intangible resources or updated asset valuations.
Insurance recoveries related to asbestos decrease steadily over the period from 366 million in 2020 to 171 million in 2024, implying diminishing recovery opportunities or settlements. Deferred income taxes also decline from 760 million to 238 million, which could reflect changes in tax positions or timing differences.
Other assets experience a moderate increase from 9,412 million to 10,810 million over the five years, contributing to the growth in total non-current assets from 36,411 million in 2020 to 47,288 million in 2024.
Total assets show a downward trend from 64,586 million in 2020 to 61,525 million in 2023, followed by a notable increase to 75,196 million in 2024. This final rise appears driven primarily by significant increases in goodwill, intangible assets, and the introduction of assets held for sale, suggesting major corporate developments such as acquisitions, divestitures, or asset reclassifications in the most recent year.
- Liquidity:
- Decline in cash and short-term investments through 2023 with partial recovery in 2024.
- Working Capital Components:
- Steady increase in accounts receivable and inventories; fluctuating other current assets; appearance of assets held for sale in 2024.
- Non-Current Assets:
- Growth in investments and receivables; stable to increasing property, plant, and equipment; strong growth in goodwill and intangible assets.
- Liabilities and Recoveries:
- Declining insurance recoveries and deferred tax assets, potentially affecting net asset values.
- Total Asset Base:
- Overall decline until 2023, followed by a marked increase in 2024, likely due to significant corporate activities.