Understanding Honeywell net worth and its financial performance is crucial when analyzing one of the most valuable companies today.
Honeywell’s diversified revenue streams, growth in aerospace technologies, and effective cost management contribute significantly to its standing.
Let’s dive into its financial details, brought to you by Ando Money, for those curious about the finances behind famous corporations.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Honeywell |
| Full Name | Honeywell International Inc. |
| Website | honeywell.com |
| Industry | Aerospace, Industrial Automation, Building Technologies, Energy Solutions |
| Traded as | NASDAQ: HON |
| ISIN | US4385161066 |
| Founded | 1906 |
| Founders | Mark C. Honeywell |
| Country/Territory | United States |
| Headquarters | Charlotte, North Carolina, U.S. |
| Chief Executive Officer | Darius Adamczyk |
| Number of Employees | ~97,000 |
| Market Cap | $132.09 billion |
| Total Assets | $69.3 billion |
| Total Equity | $17.5 billion |
| Revenue | $39.1 billion – $39.7 billion (2024 Guidance) |
| Net Income | $3.0 billion |
What is the Net Worth/Market Cap Of Honeywell in 2024?
As of October 2024, Honeywell’s market cap stands at $132.09 billion. This valuation positions Honeywell among the top-tier companies globally.
While its net worth is substantial, it’s interesting to compare it with other notable corporations in the same sector.
Some companies comparable to Honeywell include:
- General Electric (GE)
- Siemens AG
- Raytheon Technologies
- United Technologies
- 3M Company
- Boeing
- Lockheed Martin
- Johnson Controls
- IBM
- Emerson Electric
If you’re interested in exploring which companies hold the largest market values, you can read more about the most valuable companies in the world on this page.
Honeywell Financial Performance Overview
Revenue Streams
Honeywell’s diverse revenue streams are driven primarily by four core segments: Aerospace Technologies, Industrial Automation, Building Technologies, and Energy and Sustainability Solutions.
In Q2 2024 alone, sales reached $9.577 billion, with a 5% year-over-year growth. The Aerospace Technologies segment saw a significant increase of 16%, generating $3.891 billion in sales, reflecting strong market demand.
Industrial Automation, on the other hand, experienced an 8% decline, contributing $2.506 billion.
The downturn in this segment contrasts sharply with the growth observed in Honeywell’s other sectors, but efforts in automation and manufacturing solutions continue to play a critical role.
Building Technologies and Energy Solutions, with a combined total of $3.175 billion in sales, show a more balanced and steady performance.
Key Factors Driving Honeywell’s Profitability
Honeywell’s profitability is supported by an efficient blend of product and service sales.
In the first half of 2024, product sales totaled $12.74 billion, while service sales amounted to $5.942 billion. This diversification helps to mitigate risks and ensures stability.
The company’s Segment Margin, while slightly reduced in Q2 2024 at 23.0%, remains competitive.
Aerospace technologies consistently lead the charge with a 27.2% margin, highlighting the importance of this segment to Honeywell’s overall performance.
Financial Growth in Core Business Segments
While growth in Aerospace Technologies has been stellar, Honeywell’s Building Technologies sector maintained steady performance, contributing $1.571 billion in Q2 2024.
Energy and Sustainability Solutions also showed progress, up by 3% with $1.604 billion in sales. The shift toward sustainability and energy-efficient solutions is a key focus area for Honeywell’s future growth.
Costs and Expenses Affecting Profit Margins
Managing costs remains essential for Honeywell. In Q2 2024, the total cost of products and services sold amounted to $5.856 billion, a slight increase from the previous year.
The company’s R&D expenses also grew, reaching $382 million in Q2 2024, as Honeywell continues to invest heavily in innovation.
Additionally, selling, general, and administrative expenses rose to $1.361 billion, impacting the bottom line but positioning Honeywell for long-term gains.
Honeywell’s Cash Flow and Liquidity
A notable highlight is Honeywell’s solid cash position. In Q2 2024, operating cash flow was $1.371 billion, with free cash flow at $1.112 billion.
Strong liquidity ensures that Honeywell can continue its operations smoothly while funding capital investments and acquisitions.
Recent Acquisitions and Their Financial Impact
Honeywell has pursued several acquisitions recently to bolster its capabilities in key areas such as automation and sustainability.
These acquisitions have increased the company’s goodwill and intangible assets to $26.032 billion by mid-2024.
Honeywell’s strategy of acquiring cutting-edge technology companies not only boosts its market presence but also secures future revenue streams.
Honeywell’s Future Financial Outlook
Looking forward, Honeywell’s 2024 guidance expects revenue between $39.1 billion and $39.7 billion, and free cash flow in the range of $5.5 billion to $5.9 billion.
Aerospace technologies and energy solutions are anticipated to be the main growth drivers, while industrial automation may see challenges.
Despite some headwinds, Honeywell’s focus on long-term innovation and efficiency should sustain its competitive edge in the market.
FAQs about Honeywell
How has Honeywell’s Aerospace Segment Performed in 2024?
The Aerospace Technologies segment grew by 16% in Q2 2024, generating $3.891 billion in sales. This marks a significant performance boost driven by increased demand in the aviation sector.
What is Its R&D Investment in 2024?
It invested $382 million in Research and Development (R&D) during Q2 2024, reinforcing its commitment to innovation across its diverse range of business segments.
What are Its Main Revenue Sources?
Its revenue is primarily generated from its Aerospace Technologies, Industrial Automation, Building Technologies, and Energy Solutions segments, with aerospace leading in growth.
How Much is Honeywell’s Free Cash Flow in 2024?
In Q2 2024, Honeywell’s free cash flow was $1.112 billion, a robust indicator of the company’s liquidity and ability to reinvest in future growth.
What is Honeywell’s Total Assets Value in 2024?
As of June 2024, its total assets were valued at $69.3 billion, reflecting its strong financial foundation and extensive global operations.
Conclusion
Honeywell continues to demonstrate solid financial performance in 2024, driven by strong growth in key sectors like aerospace and energy solutions.
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