Honeywell International (HON) FY2014 results: revenue $40.3 billion, up 3.2% on the year
Honeywell International Inc. (HON) reported revenue of $40.3 billion for fiscal 2014, the year ended 31 December 2014, up 3.2% on the year before. Net income was $4.2 billion, up 8.0%, and diluted earnings per share $10.66. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2015.
Revenue
$40.3 billion
+3.2% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$4.2 billion
+8.0% on the year
FY2007FY2014
Diluted EPS
$10.66
+8.3% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
40,306
39,055
37,665
+3.2%
Cost of revenue
28,957
28,364
28,291
+2.1%
Gross profit
11,349
10,691
9,374
+6.2%
Gross margin
28.2%
27.4%
24.9%
Research and development
1,892
1,804
1,847
+4.9%
Selling, general and administrative
5,518
5,190
5,218
+6.3%
Pre-tax income
5,818
5,412
3,875
+7.5%
Income tax
1,489
1,450
944
+2.7%
Effective tax rate
25.6%
26.8%
24.4%
Net income
4,239
3,924
2,926
+8.0%
Net margin
10.5%
10.0%
7.8%
Diluted EPS
$10.66
$9.84
$7.38
+8.3%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
5,080
4,335
3,517
+17.2%
Capital expenditure
1,094
947
884
+15.5%
Free cash flow
3,986
3,388
2,633
+17.7%
Free cash flow margin
9.9%
8.7%
7.0%
Cash from investing
n/a
n/a
-1,428
Cash from financing
n/a
n/a
-1,206
Depreciation and amortisation
924
989
926
-6.6%
Share-based compensation
187
170
170
+10.0%
Buybacks
924
1,073
317
-13.9%
Dividends paid
1,510
1,353
1,211
+11.6%
Dividend per share
$3.74
$3.36
$3.06
+11.3%
Diluted shares, weighted
398m
399m
396m
-0.3%
Shares outstanding at period end
391m
392m
391m
-0.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
17,657
17,467
12,975
+1.1%
Non-controlling interest
127
112
90.0
+13.4%
Debt
8,683
8,829
7,496
-1.7%
Other liabilities
18,984
19,027
21,292
-0.2%
Total liabilities and equity
45,451
45,435
41,853
+0.0%
Fixed assets
5,383
5,278
5,001
+2.0%
Goodwill
12,788
13,046
12,425
-2.0%
Intangible assets
2,208
2,514
2,449
-12.2%
Investments
n/a
143
424
Cash and equivalents
6,959
6,422
4,634
+8.4%
Receivables
7,960
7,929
7,429
+0.4%
Inventory
4,405
4,293
4,235
+2.6%
Other assets
5,748
5,810
5,256
-1.1%
Total assets
45,451
45,435
41,853
+0.0%
10-K for the year ended 31 December 2014, filed 13 February 2015: the filing.