Return on Assets (ROA)
since 2005
Calculation
Honeywell International Inc., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to Honeywell1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.42% | = | 100 | × | 4,729) | ÷ | 73,681) |
| Dec 31, 2024 | 7.59% | = | 100 | × | 5,705) | ÷ | 75,196) |
| Dec 31, 2023 | 9.20% | = | 100 | × | 5,658) | ÷ | 61,525) |
| Dec 31, 2022 | 7.97% | = | 100 | × | 4,966) | ÷ | 62,275) |
| Dec 31, 2021 | 8.60% | = | 100 | × | 5,542) | ÷ | 64,470) |
| Dec 31, 2020 | 7.40% | = | 100 | × | 4,779) | ÷ | 64,586) |
| Dec 31, 2019 | 10.47% | = | 100 | × | 6,143) | ÷ | 58,679) |
| Dec 31, 2018 | 11.71% | = | 100 | × | 6,765) | ÷ | 57,773) |
| Dec 31, 2017 | 2.79% | = | 100 | × | 1,655) | ÷ | 59,387) |
| Dec 31, 2016 | 8.88% | = | 100 | × | 4,809) | ÷ | 54,146) |
| Dec 31, 2015 | 9.67% | = | 100 | × | 4,768) | ÷ | 49,316) |
| Dec 31, 2014 | 9.33% | = | 100 | × | 4,239) | ÷ | 45,451) |
| Dec 31, 2013 | 8.64% | = | 100 | × | 3,924) | ÷ | 45,435) |
| Dec 31, 2012 | 6.99% | = | 100 | × | 2,926) | ÷ | 41,853) |
| Dec 31, 2011 | 5.19% | = | 100 | × | 2,067) | ÷ | 39,808) |
| Dec 31, 2010 | 5.34% | = | 100 | × | 2,022) | ÷ | 37,834) |
| Dec 31, 2009 | 5.98% | = | 100 | × | 2,153) | ÷ | 36,004) |
| Dec 31, 2008 | 7.87% | = | 100 | × | 2,792) | ÷ | 35,490) |
| Dec 31, 2007 | 7.23% | = | 100 | × | 2,444) | ÷ | 33,805) |
| Dec 31, 2006 | 6.73% | = | 100 | × | 2,083) | ÷ | 30,941) |
| Dec 31, 2005 | 5.12% | = | 100 | × | 1,655) | ÷ | 32,294) |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The Return on Assets (ROA) for the period between 2005 and 2025 demonstrates a generally positive, though fluctuating, trend. Initial years show consistent increases, followed by periods of relative stability and then significant variation. A notable decline is observed in 2017, followed by a substantial recovery and subsequent stabilization before a slight decrease in the most recent years.
- Overall Trend
- From 2005 to 2008, ROA increased steadily from 5.12% to 7.87%. This indicates improving profitability relative to asset utilization. The subsequent years, 2009 and 2010, experienced a decrease, falling to 5.98% and 5.34% respectively, potentially reflecting the impact of economic conditions following the 2008 financial crisis.
- Period of Growth and Peak Performance
- Between 2011 and 2014, ROA exhibited a strong upward trajectory, reaching a peak of 9.67% in 2014. This suggests successful strategic initiatives and efficient asset management during this period. The increase in net income attributable to Honeywell outpaced the growth in total assets, driving the improved ROA.
- Significant Decline and Recovery
- A substantial decrease in ROA occurred in 2017, dropping to 2.79%. This coincided with a significant decrease in net income attributable to Honeywell. However, 2018 witnessed a dramatic recovery, with ROA surging to 11.71%, driven by a considerable increase in net income. This suggests a potential one-time event impacting 2017 results, followed by a return to strong performance.
- Recent Performance and Stabilization
- Following the peak in 2018, ROA remained relatively high, fluctuating between 10.47% and 8.60% from 2019 to 2021. The years 2022 and 2023 show a slight decrease to 7.97% and 9.20% respectively. The most recent figures, for 2024 and 2025, indicate a further decline to 7.59% and 6.42%, respectively. While still positive, this recent downward trend warrants further investigation to determine the underlying causes.
- Asset Growth and ROA Relationship
- Total assets generally increased throughout the period, with a notable jump between 2019 and 2021. The ROA trend suggests that, while asset growth occurred, the corresponding growth in net income was not always sufficient to maintain or improve the efficiency with which those assets were utilized, particularly in the later years of the observed period.
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Comparison to Competitors
Honeywell International Inc., ROA, long-term trends, comparison to competitors
| Honeywell International Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 6.42% | 1.33% | 9.01% | 9.91% | 6.69% | 8.38% | 3.94% |
| Dec 31, 2024 | 7.59% | -7.56% | 12.30% | 9.89% | 5.32% | 9.59% | 2.93% |
| Dec 31, 2023 | 9.20% | -1.62% | 11.81% | 8.37% | 5.81% | 13.19% | 1.97% |
| Dec 31, 2022 | 7.97% | -3.60% | 8.18% | 7.03% | 0.12% | 10.84% | 3.27% |
| Dec 31, 2021 | 8.60% | -3.03% | 7.84% | 6.30% | -3.28% | 12.41% | 2.39% |
| Dec 31, 2020 | 7.40% | -7.80% | 3.83% | 4.43% | 2.25% | 13.47% | -2.17% |
| Dec 31, 2019 | 10.47% | -0.48% | 7.77% | 6.74% | -1.87% | 13.11% | 3.96% |
| Dec 31, 2018 | 11.71% | 8.91% | 7.83% | 6.90% | -7.23% | 11.24% | 3.93% |
| Dec 31, 2017 | 2.79% | 8.88% | 0.98% | 9.15% | -1.53% | 4.30% | 4.70% |
| Dec 31, 2016 | 8.88% | 5.44% | -0.09% | 6.32% | 2.42% | 11.09% | 5.64% |
| Dec 31, 2015 | 9.67% | 5.48% | 2.68% | 6.38% | -1.24% | 7.34% | 8.70% |
| Dec 31, 2014 | 9.33% | 5.49% | 4.36% | 5.35% | 2.35% | 9.75% | 6.81% |
| Dec 31, 2013 | 8.64% | 4.95% | 4.46% | 5.24% | 1.99% | 8.24% | 6.31% |
| Dec 31, 2012 | 6.99% | 4.39% | 6.36% | 3.39% | 1.99% | 7.10% | 5.74% |
| Dec 31, 2011 | 5.19% | 5.02% | 6.05% | 7.55% | 1.97% | 7.00% | 8.10% |
| Dec 31, 2010 | 5.34% | 4.82% | 4.22% | 5.38% | 1.55% | 8.34% | 7.48% |
| Dec 31, 2009 | 5.98% | 2.11% | 1.49% | 2.35% | 1.41% | 8.61% | 6.87% |
| Dec 31, 2008 | 7.87% | 4.97% | 5.25% | 6.35% | 2.18% | 9.62% | 8.30% |
| Dec 31, 2007 | 7.23% | 6.91% | 6.31% | 7.40% | 2.79% | 10.49% | 7.74% |
| Dec 31, 2006 | 6.73% | 4.28% | 6.95% | 8.32% | 2.99% | 8.96% | 7.92% |
| Dec 31, 2005 | 5.12% | 4.28% | 6.06% | 7.88% | 2.43% | 6.58% | 6.68% |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Honeywell International Inc., ROA, long-term trends, comparison to sector (capital goods)
| Honeywell International Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2025 | 6.42% | 5.44% |
| Dec 31, 2024 | 7.59% | 3.59% |
| Dec 31, 2023 | 9.20% | 5.21% |
| Dec 31, 2022 | 7.97% | 2.84% |
| Dec 31, 2021 | 8.60% | 1.86% |
| Dec 31, 2020 | 7.40% | 0.80% |
| Dec 31, 2019 | 10.47% | 2.72% |
| Dec 31, 2018 | 11.71% | 1.74% |
| Dec 31, 2017 | 2.79% | 1.83% |
| Dec 31, 2016 | 8.88% | 4.09% |
| Dec 31, 2015 | 9.67% | 2.17% |
| Dec 31, 2014 | 9.33% | 3.87% |
| Dec 31, 2013 | 8.64% | 3.45% |
| Dec 31, 2012 | 6.99% | 3.30% |
| Dec 31, 2011 | 5.19% | 3.30% |
| Dec 31, 2010 | 5.34% | 2.70% |
| Dec 31, 2009 | 5.98% | 2.16% |
| Dec 31, 2008 | 7.87% | 3.33% |
| Dec 31, 2007 | 7.23% | 3.89% |
| Dec 31, 2006 | 6.73% | 3.91% |
| Dec 31, 2005 | 5.12% | 3.25% |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Honeywell International Inc., ROA, long-term trends, comparison to industry (industrials)
| Honeywell International Inc. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 6.42% | 6.35% |
| Dec 31, 2024 | 7.59% | 5.24% |
| Dec 31, 2023 | 9.20% | 5.61% |
| Dec 31, 2022 | 7.97% | 3.31% |
| Dec 31, 2021 | 8.60% | 3.40% |
| Dec 31, 2020 | 7.40% | 0.04% |
| Dec 31, 2019 | 10.47% | 2.56% |
| Dec 31, 2018 | 11.71% | 3.16% |
| Dec 31, 2017 | 2.79% | 3.59% |
| Dec 31, 2016 | 8.88% | 4.55% |
| Dec 31, 2015 | 9.67% | 3.52% |
| Dec 31, 2014 | 9.33% | 4.31% |
| Dec 31, 2013 | 8.64% | 3.91% |
| Dec 31, 2012 | 6.99% | 3.38% |
| Dec 31, 2011 | 5.19% | 3.69% |
| Dec 31, 2010 | 5.34% | 3.03% |
| Dec 31, 2009 | 5.98% | 2.24% |
| Dec 31, 2008 | 7.87% | 3.10% |
| Dec 31, 2007 | 7.23% | 3.87% |
| Dec 31, 2006 | 6.73% | 6.41% |
| Dec 31, 2005 | 5.12% | 1.42% |
Based on: 10-K (reporting date: 2025-12-31), 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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).