Total Asset Turnover
since 2005
Calculation
Honeywell International Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net sales1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Dec 31, 2025 | 0.51 | = | 37,442) | ÷ | 73,681) |
| Dec 31, 2024 | 0.51 | = | 38,498) | ÷ | 75,196) |
| Dec 31, 2023 | 0.60 | = | 36,662) | ÷ | 61,525) |
| Dec 31, 2022 | 0.57 | = | 35,466) | ÷ | 62,275) |
| Dec 31, 2021 | 0.53 | = | 34,392) | ÷ | 64,470) |
| Dec 31, 2020 | 0.51 | = | 32,637) | ÷ | 64,586) |
| Dec 31, 2019 | 0.63 | = | 36,709) | ÷ | 58,679) |
| Dec 31, 2018 | 0.72 | = | 41,802) | ÷ | 57,773) |
| Dec 31, 2017 | 0.68 | = | 40,534) | ÷ | 59,387) |
| Dec 31, 2016 | 0.73 | = | 39,302) | ÷ | 54,146) |
| Dec 31, 2015 | 0.78 | = | 38,581) | ÷ | 49,316) |
| Dec 31, 2014 | 0.89 | = | 40,306) | ÷ | 45,451) |
| Dec 31, 2013 | 0.86 | = | 39,055) | ÷ | 45,435) |
| Dec 31, 2012 | 0.90 | = | 37,665) | ÷ | 41,853) |
| Dec 31, 2011 | 0.92 | = | 36,529) | ÷ | 39,808) |
| Dec 31, 2010 | 0.88 | = | 33,370) | ÷ | 37,834) |
| Dec 31, 2009 | 0.86 | = | 30,908) | ÷ | 36,004) |
| Dec 31, 2008 | 1.03 | = | 36,556) | ÷ | 35,490) |
| Dec 31, 2007 | 1.02 | = | 34,589) | ÷ | 33,805) |
| Dec 31, 2006 | 1.01 | = | 31,367) | ÷ | 30,941) |
| Dec 31, 2005 | 0.86 | = | 27,653) | ÷ | 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 total asset turnover ratio for the period examined demonstrates a fluctuating pattern over the years. Initially, the ratio exhibited an increasing trend, followed by a period of decline and subsequent stabilization at a lower level. This analysis details these observations and potential implications.
- Initial Increasing Trend (2005-2007)
- From 2005 to 2007, the total asset turnover ratio increased from 0.86 to 1.02. This indicates improving efficiency in utilizing assets to generate sales during this period. The company was generating more revenue for each dollar of assets it held.
- Period of Fluctuations and Decline (2008-2016)
- Following 2007, the ratio experienced fluctuations, peaking at 1.03 in 2008 before declining. A general downward trend is observed from 2011 through 2016, with the ratio decreasing from 0.92 to 0.73. This suggests a diminishing ability to generate sales relative to the asset base. The decline could be attributed to various factors, including increased asset investment without a corresponding increase in sales, or a slowdown in sales growth.
- Stabilization at a Lower Level (2017-2025)
- From 2017 onwards, the ratio stabilized at a lower level, generally fluctuating between 0.51 and 0.68. While there are minor variations, the ratio does not demonstrate a clear upward or downward trajectory. The ratio in 2025 (0.51) is comparable to that of 2020 (0.51) and 2023 (0.51), indicating a consistent, though reduced, level of asset utilization. The ratio in 2024 (0.51) is also similar.
The overall trend indicates a decrease in asset turnover efficiency over the analyzed period. While initial years showed improvement, the ratio has consistently declined and stabilized at a significantly lower level. This suggests the company may be holding a larger proportion of assets that are not actively contributing to revenue generation, or that sales growth has not kept pace with asset growth. Further investigation into the composition of assets and sales trends would be necessary to determine the underlying causes of this shift.
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Comparison to Competitors
Honeywell International Inc., total asset turnover, 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 | 0.51 | 0.53 | 0.65 | 0.67 | 0.33 | 1.25 | 0.52 |
| Dec 31, 2024 | 0.51 | 0.43 | 0.70 | 0.65 | 0.29 | 1.28 | 0.50 |
| Dec 31, 2023 | 0.60 | 0.57 | 0.73 | 0.60 | 0.40 | 1.29 | 0.43 |
| Dec 31, 2022 | 0.57 | 0.49 | 0.69 | 0.59 | 0.39 | 1.25 | 0.42 |
| Dec 31, 2021 | 0.53 | 0.45 | 0.58 | 0.58 | 0.36 | 1.32 | 0.40 |
| Dec 31, 2020 | 0.51 | 0.38 | 0.50 | 0.56 | 0.29 | 1.29 | 0.35 |
| Dec 31, 2019 | 0.63 | 0.57 | 0.65 | 0.65 | 0.33 | 1.26 | 0.55 |
| Dec 31, 2018 | 0.72 | 0.86 | 0.66 | 0.70 | 0.37 | 1.20 | 0.50 |
| Dec 31, 2017 | 0.68 | 1.01 | 0.55 | 0.63 | 0.30 | 1.10 | 0.62 |
| Dec 31, 2016 | 0.73 | 1.05 | 0.48 | 0.65 | 0.30 | 0.99 | 0.64 |
| Dec 31, 2015 | 0.78 | 1.02 | 0.56 | 0.67 | 0.21 | 0.94 | 0.64 |
| Dec 31, 2014 | 0.89 | 0.91 | 0.62 | 0.67 | 0.16 | 1.23 | 0.71 |
| Dec 31, 2013 | 0.86 | 0.93 | 0.62 | 0.62 | 0.15 | 1.25 | 0.69 |
| Dec 31, 2012 | 0.90 | 0.92 | 0.71 | 0.46 | 0.15 | 1.22 | 0.65 |
| Dec 31, 2011 | 0.92 | 0.86 | 0.70 | 0.90 | 0.13 | 1.23 | 0.95 |
| Dec 31, 2010 | 0.88 | 0.94 | 0.62 | 0.79 | 0.13 | 1.31 | 0.93 |
| Dec 31, 2009 | 0.86 | 1.10 | 0.49 | 0.73 | 0.13 | 1.29 | 0.94 |
| Dec 31, 2008 | 1.03 | 1.13 | 0.71 | 0.92 | 0.14 | 1.28 | 1.03 |
| Dec 31, 2007 | 1.02 | 1.13 | 0.75 | 0.97 | 0.13 | 1.45 | 0.99 |
| Dec 31, 2006 | 1.01 | 1.19 | 0.76 | 1.08 | 0.14 | 1.40 | 1.00 |
| Dec 31, 2005 | 0.86 | 0.91 | 0.72 | 1.09 | 0.14 | 1.34 | 0.92 |
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., total asset turnover, long-term trends, comparison to sector (capital goods)
| Honeywell International Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2025 | 0.51 | 0.57 |
| Dec 31, 2024 | 0.51 | 0.54 |
| Dec 31, 2023 | 0.60 | 0.57 |
| Dec 31, 2022 | 0.57 | 0.54 |
| Dec 31, 2021 | 0.53 | 0.50 |
| Dec 31, 2020 | 0.51 | 0.43 |
| Dec 31, 2019 | 0.63 | 0.54 |
| Dec 31, 2018 | 0.72 | 0.58 |
| Dec 31, 2017 | 0.68 | 0.54 |
| Dec 31, 2016 | 0.73 | 0.54 |
| Dec 31, 2015 | 0.78 | 0.46 |
| Dec 31, 2014 | 0.89 | 0.41 |
| Dec 31, 2013 | 0.86 | 0.39 |
| Dec 31, 2012 | 0.90 | 0.38 |
| Dec 31, 2011 | 0.92 | 0.36 |
| Dec 31, 2010 | 0.88 | 0.34 |
| Dec 31, 2009 | 0.86 | 0.33 |
| Dec 31, 2008 | 1.03 | 0.35 |
| Dec 31, 2007 | 1.02 | 0.34 |
| Dec 31, 2006 | 1.01 | 0.36 |
| Dec 31, 2005 | 0.86 | 0.33 |
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., total asset turnover, long-term trends, comparison to industry (industrials)
| Honeywell International Inc. | Industrials | |
|---|---|---|
| Dec 31, 2025 | 0.51 | 0.66 |
| Dec 31, 2024 | 0.51 | 0.65 |
| Dec 31, 2023 | 0.60 | 0.67 |
| Dec 31, 2022 | 0.57 | 0.66 |
| Dec 31, 2021 | 0.53 | 0.58 |
| Dec 31, 2020 | 0.51 | 0.50 |
| Dec 31, 2019 | 0.63 | 0.62 |
| Dec 31, 2018 | 0.72 | 0.67 |
| Dec 31, 2017 | 0.68 | 0.62 |
| Dec 31, 2016 | 0.73 | 0.61 |
| Dec 31, 2015 | 0.78 | 0.54 |
| Dec 31, 2014 | 0.89 | 0.49 |
| Dec 31, 2013 | 0.86 | 0.47 |
| Dec 31, 2012 | 0.90 | 0.46 |
| Dec 31, 2011 | 0.92 | 0.45 |
| Dec 31, 2010 | 0.88 | 0.41 |
| Dec 31, 2009 | 0.86 | 0.39 |
| Dec 31, 2008 | 1.03 | 0.43 |
| Dec 31, 2007 | 1.02 | 0.41 |
| Dec 31, 2006 | 1.01 | 0.43 |
| Dec 31, 2005 | 0.86 | 0.40 |
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).