Stock Analysis on Net
Stock Analysis on Net

Honeywell International Inc. (NASDAQ:HON)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Honeywell International Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
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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), 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

Net Sales
The net sales exhibited an overall upward trajectory from 2005 through 2014, rising from $27.7 billion to around $40.3 billion. From 2014, sales showed some fluctuation with a notable decline observed in 2019, dropping to approximately $36.7 billion, followed by a further reduction in 2020 to about $32.6 billion. A recovery phase is evident post-2020, with sales gradually increasing each year and reaching around $38.5 billion by 2024. This suggests resilience and the capability to rebound after downturns.
Total Assets
Total assets generally increased over the period under review. Beginning at approximately $32.3 billion in 2005, assets showed steady growth, peaking significantly at about $75.2 billion in 2024. There were periods of stabilization and mild decreases, notably between 2017 and 2019. The rise in total assets outpaced net sales growth particularly in the later years, which may indicate increased investment or asset accumulation.
Total Asset Turnover
The total asset turnover ratio started at 0.86 in 2005 and improved slightly to peak around 1.03 in 2008. However, after this peak, a declining trend is observable. From 2010 onward, the ratio decreased steadily, reaching 0.51 by 2024. This decline indicates a decreasing efficiency in utilizing assets to generate sales, implying that while assets have grown, sales have not increased proportionally at the same rate. The drop in turnover particularly after 2014 is significant and sustained, possibly reflecting changes in asset composition or operational challenges.
Summary
The data reveals a pattern of growing net sales and total assets, though with some volatility in sales, especially around 2019 to 2020. The steadily increasing asset base, coupled with a declining asset turnover ratio, highlights a diminishing return on asset utilization over time. This could warrant further analysis into the nature of asset investments and efforts to improve asset productivity to support future growth and efficiency.

Comparison to Competitors

Honeywell International Inc., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel
Honeywell International Inc. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Lockheed Martin Corp. RTX Corp.
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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), 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., total asset turnover, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Honeywell International Inc. Capital Goods
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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), 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., total asset turnover, long-term trends, comparison to industry (industrials)

Microsoft Excel
Honeywell International Inc. Industrials
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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), 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).