Honeywell International (HON) FY2011 results: revenue $36.5 billion, up 12.9% on the year
Honeywell International Inc. (HON) reported revenue of $36.5 billion for fiscal 2011, the year ended 31 December 2011, up 12.9% on the year before. Net income was $2.1 billion, up 2.2%, and diluted earnings per share $5.22. The figures are the company's own, from the 10-K it filed with the SEC on 17 February 2012.
Revenue
$36.5 billion
+12.9% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$2.1 billion
+2.2% on the year
FY2007FY2011
Diluted EPS
$5.22
+0.8% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
36,529
32,350
29,951
+12.9%
Cost of revenue
28,556
24,721
23,260
+15.5%
Gross profit
7,973
7,629
6,691
+4.5%
Gross margin
21.8%
23.6%
22.3%
Research and development
1,799
1,450
1,321
+24.1%
Selling, general and administrative
5,399
4,618
4,323
+16.9%
Pre-tax income
2,282
2,722
1,964
-16.2%
Income tax
417
765
436
-45.5%
Effective tax rate
18.3%
28.1%
22.2%
Net income
2,067
2,022
1,548
+2.2%
Net margin
5.7%
6.3%
5.2%
Diluted EPS
$5.22
$5.18
$4.10
+0.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
2,833
4,203
3,946
-32.6%
Capital expenditure
790
644
605
+22.7%
Free cash flow
2,043
3,559
3,341
-42.6%
Free cash flow margin
5.6%
11.0%
11.2%
Cash from investing
-611
-2,269
-1,133
Cash from financing
-1,114
-2,047
-2,152
Depreciation and amortisation
948
970
936
-2.3%
Share-based compensation
168
164
118
+2.4%
Buybacks
1,085
0.0
0.0
Dividends paid
1,091
944
918
+15.6%
Dividend per share
$2.74
$2.42
$2.42
+13.2%
Diluted shares, weighted
396m
390m
378m
+1.4%
Shares outstanding at period end
387m
392m
n/a
-1.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
10,806
10,666
8,844
+1.3%
Non-controlling interest
96.0
121
110
-20.7%
Debt
7,555
6,278
7,264
+20.3%
Other liabilities
21,351
20,769
19,786
+2.8%
Total liabilities and equity
39,808
37,834
36,004
+5.2%
Fixed assets
4,804
4,724
4,847
+1.7%
Goodwill
11,858
11,275
10,494
+5.2%
Intangible assets
2,477
1,924
1,745
+28.7%
Investments
362
413
262
-12.3%
Cash and equivalents
3,698
2,650
2,801
+39.5%
Receivables
7,228
6,841
6,274
+5.7%
Inventory
4,264
3,822
3,446
+11.6%
Other assets
5,117
6,185
6,135
-17.3%
Total assets
39,808
37,834
36,004
+5.2%
10-K for the year ended 31 December 2011, filed 17 February 2012: the filing.