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Honeywell International Inc. (HON)
Enterprise Value to FCFF (EV/FCFF)
Difficulty: Intermediate
Free Cash Flow to The Firm (FCFF)
Honeywell International Inc., FCFF calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-10), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Honeywell International Inc.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Honeywell International Inc.’s FCFF increased from 2016 to 2017 and from 2017 to 2018. |
Interest Paid, Net of Tax
Honeywell International Inc., interest paid, net of tax calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-10), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).
2 2018 Calculation
Interest paid, net of amounts capitalized, tax = Interest paid, net of amounts capitalized × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Honeywell International Inc., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Valuation Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| 3M Co. | |
| Danaher Corp. | |
| General Electric Co. | |
| EV/FCFF, Sector | |
| General Industrials | |
| EV/FCFF, Industry | |
| Industrials | |
Based on: 10-K (filing date: 2019-02-08).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Honeywell International Inc., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| EV/FCFF, Competitors4 | ||||||
| 3M Co. | |
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| Danaher Corp. | |
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| General Electric Co. | |
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| General Industrials | |
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| EV/FCFF, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-08), 10-K (filing date: 2018-02-09), 10-K (filing date: 2017-02-10), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13).
3 2018 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Honeywell International Inc.’s EV/FCFF ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |