Honeywell International (HON) FY2015 results: revenue $38.6 billion, down 4.3% on the year
Honeywell International Inc. (HON) reported revenue of $38.6 billion for fiscal 2015, the year ended 31 December 2015, down 4.3% on the year before. Net income was $4.8 billion, up 12.5%, and diluted earnings per share $12.08. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2016.
Revenue
$38.6 billion
-4.3% on the year
FY2008FY2015
Operating margin
n/a
FY2008FY2015
Net income
$4.8 billion
+12.5% on the year
FY2008FY2015
Diluted EPS
$12.08
+13.3% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
38,581
40,306
39,055
-4.3%
Cost of revenue
26,747
28,957
28,364
-7.6%
Gross profit
11,834
11,349
10,691
+4.3%
Gross margin
30.7%
28.2%
27.4%
Research and development
1,856
1,892
1,804
-1.9%
Selling, general and administrative
5,006
5,518
5,190
-9.3%
Pre-tax income
6,586
5,818
5,412
+13.2%
Income tax
1,739
1,489
1,450
+16.8%
Effective tax rate
26.4%
25.6%
26.8%
Net income
4,768
4,239
3,924
+12.5%
Net margin
12.4%
10.5%
10.0%
Diluted EPS
$12.08
$10.66
$9.84
+13.3%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
5,519
5,080
4,335
+8.6%
Capital expenditure
1,073
1,094
947
-1.9%
Free cash flow
4,446
3,986
3,388
+11.5%
Free cash flow margin
11.5%
9.9%
8.7%
Cash from investing
-6,514
n/a
n/a
Cash from financing
37.0
n/a
n/a
Depreciation and amortisation
883
924
989
-4.4%
Share-based compensation
175
187
170
-6.4%
Buybacks
1,884
924
1,073
+103.9%
Dividends paid
1,726
1,510
1,353
+14.3%
Dividend per share
$4.30
$3.74
$3.36
+15.0%
Diluted shares, weighted
395m
398m
399m
-0.7%
Shares outstanding at period end
385m
391m
392m
-1.5%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
18,283
17,657
17,467
+3.5%
Non-controlling interest
135
127
112
+6.3%
Debt
12,068
8,683
8,829
+39.0%
Other liabilities
18,830
18,984
19,027
-0.8%
Total liabilities and equity
49,316
45,451
45,435
+8.5%
Fixed assets
5,789
5,383
5,278
+7.5%
Goodwill
15,895
12,788
13,046
+24.3%
Intangible assets
4,577
2,208
2,514
+107.3%
Investments
n/a
n/a
143
Cash and equivalents
5,455
6,959
6,422
-21.6%
Receivables
8,075
7,960
7,929
+1.4%
Inventory
4,420
4,405
4,293
+0.3%
Other assets
5,105
5,748
5,810
-11.2%
Total assets
49,316
45,451
45,435
+8.5%
10-K for the year ended 31 December 2015, filed 12 February 2016: the filing.