Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Honeywell International Inc. (NYSE:HON)

Analysis of Solvency Ratios
Quarterly Data

Beginner level

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.

Solvency Ratios (Summary)

Honeywell International Inc., solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Debt Ratios
Debt to equity 1.23 1.22 0.91 0.87 1.03 0.91 0.86 0.89 1.00 0.97 1.04 1.04 0.80 0.81 0.78 0.81 0.83 0.75 0.77 0.66 0.59 0.53 0.55
Debt to capital 0.55 0.55 0.48 0.46 0.51 0.48 0.46 0.47 0.50 0.49 0.51 0.51 0.44 0.45 0.44 0.45 0.45 0.43 0.43 0.40 0.37 0.34 0.36
Debt to assets 0.35 0.35 0.28 0.27 0.31 0.28 0.28 0.28 0.29 0.29 0.30 0.30 0.30 0.30 0.29 0.29 0.30 0.27 0.28 0.24 0.23 0.21 0.21
Financial leverage 3.51 3.50 3.25 3.17 3.32 3.23 3.12 3.18 3.40 3.40 3.46 3.44 2.69 2.73 2.70 2.80 2.79 2.73 2.77 2.70 2.63 2.51 2.59
Coverage Ratios
Interest coverage 18.10 20.68 23.18 22.17 22.10 21.62 21.10 21.40 21.63 22.50 22.88 22.84 21.93 21.39 20.95 20.07 20.85 21.68 21.91 22.25 — — —

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Honeywell International Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Honeywell International Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Honeywell International Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Honeywell International Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.
Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Honeywell International Inc.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Equity

Honeywell International Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term borrowings 3,550  3,531  3,528  3,516  3,422  3,558  3,514  3,586  3,977  4,447  5,406  3,958  3,932  3,803  3,415  3,366  5,601  3,788  3,631  5,937  3,700  2,820  2,742 
Current maturities of long-term debt 985  967  1,042  1,376  4,088  4,017  4,000  2,872  215  133  143  1,351  1,398  1,378  1,271  227  649  618  626  577  1,268  1,337  1,304 
Long-term debt, excluding current maturities 17,687  17,591  11,542  11,110  11,101  8,608  8,598  9,756  14,059  12,504  12,738  12,573  11,453  11,329  11,181  12,182  9,608  9,607  9,700  5,554  5,599  5,562  5,661 
Total debt 22,222  22,089  16,112  16,002  18,611  16,183  16,112  16,214  18,251  17,084  18,287  17,882  16,783  16,510  15,867  15,775  15,858  14,013  13,957  12,068  10,567  9,719  9,707 
 
Total Honeywell shareowners’ equity 18,074  18,147  17,644  18,494  18,109  17,870  18,767  18,180  18,239  17,600  17,595  17,276  21,074  20,425  20,323  19,369  19,191  18,771  18,197  18,283  17,760  18,457  17,542 
Solvency Ratio
Debt to equity1 1.23 1.22 0.91 0.87 1.03 0.91 0.86 0.89 1.00 0.97 1.04 1.04 0.80 0.81 0.78 0.81 0.83 0.75 0.77 0.66 0.59 0.53 0.55
Benchmarks
Debt to Equity, Competitors2
3M Co. 1.65 1.91 2.22 2.02 1.82 1.57 1.69 1.49 1.45 1.40 1.43 1.21 0.96 0.97 1.07 1.13 1.03 0.99 0.95 0.92 0.92 0.65 0.47
General Electric Co. 2.39 2.43 2.41 3.21 3.34 2.95 3.06 3.55 3.66 2.10 2.25 2.09 1.79 1.81 1.73 1.80 1.82 1.84 2.04 2.02 2.62 2.89 3.24

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q3 2020 Calculation
Debt to equity = Total debt ÷ Total Honeywell shareowners’ equity
= 22,222 ÷ 18,074 = 1.23

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Honeywell International Inc.’s debt to equity ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Capital

Honeywell International Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term borrowings 3,550  3,531  3,528  3,516  3,422  3,558  3,514  3,586  3,977  4,447  5,406  3,958  3,932  3,803  3,415  3,366  5,601  3,788  3,631  5,937  3,700  2,820  2,742 
Current maturities of long-term debt 985  967  1,042  1,376  4,088  4,017  4,000  2,872  215  133  143  1,351  1,398  1,378  1,271  227  649  618  626  577  1,268  1,337  1,304 
Long-term debt, excluding current maturities 17,687  17,591  11,542  11,110  11,101  8,608  8,598  9,756  14,059  12,504  12,738  12,573  11,453  11,329  11,181  12,182  9,608  9,607  9,700  5,554  5,599  5,562  5,661 
Total debt 22,222  22,089  16,112  16,002  18,611  16,183  16,112  16,214  18,251  17,084  18,287  17,882  16,783  16,510  15,867  15,775  15,858  14,013  13,957  12,068  10,567  9,719  9,707 
Total Honeywell shareowners’ equity 18,074  18,147  17,644  18,494  18,109  17,870  18,767  18,180  18,239  17,600  17,595  17,276  21,074  20,425  20,323  19,369  19,191  18,771  18,197  18,283  17,760  18,457  17,542 
Total capital 40,296  40,236  33,756  34,496  36,720  34,053  34,879  34,394  36,490  34,684  35,882  35,158  37,857  36,935  36,190  35,144  35,049  32,784  32,154  30,351  28,327  28,176  27,249 
Solvency Ratio
Debt to capital1 0.55 0.55 0.48 0.46 0.51 0.48 0.46 0.47 0.50 0.49 0.51 0.51 0.44 0.45 0.44 0.45 0.45 0.43 0.43 0.40 0.37 0.34 0.36
Benchmarks
Debt to Capital, Competitors2
3M Co. 0.62 0.66 0.69 0.67 0.64 0.61 0.63 0.60 0.59 0.58 0.59 0.55 0.49 0.49 0.52 0.53 0.51 0.50 0.49 0.48 0.48 0.39 0.32
General Electric Co. 0.70 0.71 0.71 0.76 0.77 0.75 0.75 0.78 0.79 0.68 0.69 0.68 0.64 0.64 0.63 0.64 0.65 0.65 0.67 0.67 0.72 0.74 0.76

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q3 2020 Calculation
Debt to capital = Total debt ÷ Total capital
= 22,222 ÷ 40,296 = 0.55

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Honeywell International Inc.’s debt to capital ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Debt to Assets

Honeywell International Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Commercial paper and other short-term borrowings 3,550  3,531  3,528  3,516  3,422  3,558  3,514  3,586  3,977  4,447  5,406  3,958  3,932  3,803  3,415  3,366  5,601  3,788  3,631  5,937  3,700  2,820  2,742 
Current maturities of long-term debt 985  967  1,042  1,376  4,088  4,017  4,000  2,872  215  133  143  1,351  1,398  1,378  1,271  227  649  618  626  577  1,268  1,337  1,304 
Long-term debt, excluding current maturities 17,687  17,591  11,542  11,110  11,101  8,608  8,598  9,756  14,059  12,504  12,738  12,573  11,453  11,329  11,181  12,182  9,608  9,607  9,700  5,554  5,599  5,562  5,661 
Total debt 22,222  22,089  16,112  16,002  18,611  16,183  16,112  16,214  18,251  17,084  18,287  17,882  16,783  16,510  15,867  15,775  15,858  14,013  13,957  12,068  10,567  9,719  9,707 
 
Total assets 63,459  63,604  57,422  58,679  60,104  57,750  58,560  57,773  61,927  59,860  60,948  59,387  56,768  55,668  54,779  54,146  53,556  51,181  50,365  49,316  46,625  46,412  45,357 
Solvency Ratio
Debt to assets1 0.35 0.35 0.28 0.27 0.31 0.28 0.28 0.28 0.29 0.29 0.30 0.30 0.30 0.30 0.29 0.29 0.30 0.27 0.28 0.24 0.23 0.21 0.21
Benchmarks
Debt to Assets, Competitors2
3M Co. 0.43 0.46 0.49 0.45 0.46 0.41 0.42 0.40 0.40 0.39 0.41 0.37 0.33 0.33 0.35 0.35 0.36 0.35 0.34 0.33 0.34 0.27 0.22
General Electric Co. 0.31 0.32 0.32 0.34 0.35 0.34 0.34 0.36 0.37 0.34 0.35 0.36 0.36 0.38 0.37 0.37 0.39 0.39 0.40 0.40 0.50 0.52 0.57

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q3 2020 Calculation
Debt to assets = Total debt ÷ Total assets
= 22,222 ÷ 63,459 = 0.35

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Honeywell International Inc.’s debt to assets ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Financial Leverage

Honeywell International Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Total assets 63,459  63,604  57,422  58,679  60,104  57,750  58,560  57,773  61,927  59,860  60,948  59,387  56,768  55,668  54,779  54,146  53,556  51,181  50,365  49,316  46,625  46,412  45,357 
Total Honeywell shareowners’ equity 18,074  18,147  17,644  18,494  18,109  17,870  18,767  18,180  18,239  17,600  17,595  17,276  21,074  20,425  20,323  19,369  19,191  18,771  18,197  18,283  17,760  18,457  17,542 
Solvency Ratio
Financial leverage1 3.51 3.50 3.25 3.17 3.32 3.23 3.12 3.18 3.40 3.40 3.46 3.44 2.69 2.73 2.70 2.80 2.79 2.73 2.77 2.70 2.63 2.51 2.59
Benchmarks
Financial Leverage, Competitors2
3M Co. 3.82 4.15 4.55 4.44 3.98 3.86 4.03 3.73 3.64 3.55 3.51 3.29 2.90 2.93 3.03 3.20 2.84 2.79 2.81 2.79 2.73 2.40 2.20
General Electric Co. 7.64 7.62 7.43 9.40 9.42 8.71 8.96 9.98 9.91 6.22 6.40 5.88 4.97 4.79 4.72 4.82 4.73 4.72 5.07 5.01 5.23 5.58 5.69

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q3 2020 Calculation
Financial leverage = Total assets ÷ Total Honeywell shareowners’ equity
= 63,459 ÷ 18,074 = 3.51

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Honeywell International Inc.’s financial leverage ratio increased from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.

Interest Coverage

Honeywell International Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Selected Financial Data (US$ in millions)
Net income attributable to Honeywell 758  1,081  1,581  1,562  1,624  1,541  1,416  1,721  2,338  1,267  1,439  (2,411) 1,348  1,392  1,326  1,034  1,240  1,319  1,216  1,194  1,264  1,194  1,116 
Add: Net income attributable to noncontrolling interest 23  18  25  28  24  15  20  19  18  13  13  12  17  8  6  11  8  8  10  9  12  28  30 
Add: Income tax expense 367  120  329  178  319  426  406  (20) (498) 718  459  4,016  418  378  392  387  384  428  402  450  431  440  418 
Add: Interest and other financial charges 101  90  73  91  96  85  85  90  99  95  83  81  81  79  75  86  82  85  85  84  72  77  77 
Earnings before interest and tax (EBIT) 1,249  1,309  2,008  1,859  2,063  2,067  1,927  1,810  1,957  2,093  1,994  1,698  1,864  1,857  1,799  1,518  1,714  1,840  1,713  1,737  1,779  1,739  1,641 
Solvency Ratio
Interest coverage1 18.10 20.68 23.18 22.17 22.10 21.62 21.10 21.40 21.63 22.50 22.88 22.84 21.93 21.39 20.95 20.07 20.85 21.68 21.91 22.25 — — —
Benchmarks
Interest Coverage, Competitors2
General Electric Co. 2.16 2.11 2.64 1.27 1.10 -3.71 -3.01 -2.98 -5.55 -0.83 -0.84 -0.81 2.48 2.71 3.17 2.80 2.53 2.54 2.49 3.36 — — —

Based on: 10-Q (filing date: 2020-10-30), 10-Q (filing date: 2020-07-24), 10-Q (filing date: 2020-05-01), 10-K (filing date: 2020-02-14), 10-Q (filing date: 2019-10-17), 10-Q (filing date: 2019-07-18), 10-Q (filing date: 2019-04-18), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-19), 10-Q (filing date: 2018-07-20), 10-Q (filing date: 2018-04-20), 10-K (filing date: 2018-02-09), 10-Q (filing date: 2017-10-20), 10-Q (filing date: 2017-07-21), 10-Q (filing date: 2017-04-21), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-21), 10-Q (filing date: 2016-07-22), 10-Q (filing date: 2016-04-22), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-16), 10-Q (filing date: 2015-07-17), 10-Q (filing date: 2015-04-17).

1 Q3 2020 Calculation
Interest coverage = (EBITQ3 2020 + EBITQ2 2020 + EBITQ1 2020 + EBITQ4 2019) ÷ (Interest expenseQ3 2020 + Interest expenseQ2 2020 + Interest expenseQ1 2020 + Interest expenseQ4 2019)
= (1,249 + 1,309 + 2,008 + 1,859) ÷ (101 + 90 + 73 + 91) = 18.10

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Honeywell International Inc.’s interest coverage ratio deteriorated from Q1 2020 to Q2 2020 and from Q2 2020 to Q3 2020.