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
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
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Honeywell International Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 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).
Honeywell International Inc. demonstrates a generally positive revenue trend over the analyzed period, though with notable fluctuations, particularly in the most recent quarters. Net sales exhibited growth from 2021 through 2023, peaking in the second half of 2023, before experiencing a significant decline in the first quarter of 2025. This decline warrants further investigation to determine its underlying causes.
Gross profit generally followed the trend of net sales, increasing through 2023 and then decreasing in early 2025. However, the rate of gross profit growth did not consistently match the rate of net sales growth, suggesting potential pressures on cost of goods sold as a percentage of revenue.
- Revenue Composition
- Product sales consistently represent the larger portion of net sales, though service sales have shown a steady increase over the period. The growth in service sales is particularly noticeable from 2022 onwards, indicating a potential shift in the company’s revenue model. The substantial drop in product sales in the first quarter of 2025 significantly impacted overall net sales.
- Cost Analysis
- Both cost of products sold and cost of services sold increased over the analyzed period. The increase in cost of services sold appears to be accelerating in recent quarters, potentially due to increased labor costs or other service delivery expenses. The combined cost of products and services sold has consistently represented a significant portion of net sales, impacting overall profitability.
- Operating Income
- Operating income generally increased from 2021 to 2023, mirroring the trend in net sales and gross profit. However, operating income experienced a substantial decrease in the first quarter of 2025, coinciding with the decline in net sales. This suggests that the decrease in revenue directly impacted operating performance.
- Expenses
- Research and development expenses have been relatively stable, with a gradual increase over time. Selling, general and administrative expenses also increased consistently, though at a slower rate than revenue growth. Significant impairment charges were recorded in the first quarter of 2025, specifically related to goodwill and assets held for sale, contributing to the overall decline in net income.
- Net Income
- Net income followed a similar pattern to operating income, increasing through 2023 and then declining sharply in the first quarter of 2025. The impact of impairment charges and the decline in revenue are clearly visible in the net income figures. Net income attributable to Honeywell generally aligns with overall net income, with minor adjustments due to noncontrolling interests.
- Other Income and Financial Charges
- Other income fluctuated throughout the period, with a significant negative impact in the third quarter of 2022. Interest and other financial charges increased steadily, reflecting potential changes in the company’s debt structure or interest rates. These factors influenced income from continuing operations before taxes and ultimately, net income.
The substantial decline in key financial metrics in the first quarter of 2025, coupled with the recorded impairment charges, suggests a period of significant challenge for the company. Further analysis is needed to understand the specific factors driving these results and their potential impact on future performance.