Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Honeywell International Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 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).
Net sales exhibit a general upward trajectory over the analyzed period, growing from 8,454 million US$ in March 2021 to 9,719 million US$ by June 2026. While the growth is consistent, periodic fluctuations are present, notably a dip in March 2025 to 8,925 million US$ followed by a peak of 10,408 million US$ in September 2025.
- Revenue Mix and Composition
- A structural shift in revenue streams is observable. Product sales remained relatively volatile, fluctuating between 5,445 million US$ and 7,086 million US$. Conversely, service sales demonstrated a steady and significant expansion, rising from approximately 2,045 million US$ in early 2021 to a consistent range of 3,200 to 3,300 million US$ by 2026. This indicates an increasing reliance on service-based revenue relative to product sales.
- Gross Profitability
- Gross profit increased from 2,745 million US$ in March 2021 to 3,653 million US$ in June 2026. The cost of products and services sold generally trended upward in alignment with net sales, though gross margins remained resilient. A notable spike in the cost of products and services occurred in September 2025, reaching 6,861 million US$, which temporarily pressured profit margins during that quarter.
- Operating Expenses and Investment
- Research and development expenses show a clear long-term increasing trend, growing from 350 million US$ in March 2022 to 524 million US$ in June 2026, suggesting a heightened commitment to innovation and product development. Selling, general, and administrative expenses remained comparatively stable, typically fluctuating between 1,200 million US$ and 1,400 million US$, reflecting disciplined overhead management.
- Operating Income and Impairments
- Operating income generally trended upward, peaking at 1,978 million US$ in June 2023. However, a severe contraction occurred in December 2025, where operating income dropped to 255 million US$. This decline is directly attributable to significant non-cash charges, specifically a 724 million US$ impairment of goodwill and a 255 million US$ impairment of assets held for sale.
- Non-Recurring Gains and Net Income Volatility
- Net income remained stable between 1.1 billion US$ and 1.8 billion US$ for most of the period, but experienced extreme volatility in the final year. December 2025 resulted in a net loss of 123 million US$ due to the aforementioned impairments. In contrast, June 2026 reported an anomalous net income of 5,686 million US$, driven primarily by a 6,629 million US$ gain on the deconsolidation of a subsidiary, which offset a 239 million US$ loss on debt extinguishment and a significant 1,578 million US$ tax expense.
The overall financial performance is characterized by organic growth in service revenues and steady operational profitability, punctuated by substantial non-recurring items in late 2025 and early 2026 that significantly distorted net income results.