Honeywell International (HON) FY2017 results: revenue $40.5 billion, up 3.1% on the year
Honeywell International Inc. (HON) reported revenue of $40.5 billion for fiscal 2017, the year ended 31 December 2017, up 3.1% on the year before. Net income was $1.5 billion, down 67.9%, and diluted earnings per share $4.00. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$40.5 billion
+3.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$1.5 billion
-67.9% on the year
FY2010FY2017
Diluted EPS
$4.00
-67.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
40,534
39,302
38,581
+3.1%
Cost of revenue
28,144
27,677
26,747
+1.7%
Gross profit
12,390
12,152
11,834
+2.0%
Gross margin
30.6%
30.9%
30.7%
Research and development
1,835
1,864
1,856
-1.6%
Selling, general and administrative
6,087
5,574
5,006
+9.2%
Pre-tax income
6,950
6,447
6,586
+7.8%
Income tax
5,362
1,601
1,739
+234.9%
Effective tax rate
77.2%
24.8%
26.4%
Net income
1,545
4,809
4,768
-67.9%
Net margin
3.8%
12.2%
12.4%
Diluted EPS
$4.00
$12.40
$12.08
-67.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
5,966
5,498
5,519
+8.5%
Capital expenditure
1,031
1,095
1,073
-5.8%
Free cash flow
4,935
4,403
4,446
+12.1%
Free cash flow margin
12.2%
11.2%
11.5%
Cash from investing
-3,574
-3,342
-6,514
Cash from financing
-3,516
346
37.0
Depreciation and amortisation
1,115
1,030
883
+8.3%
Share-based compensation
176
184
175
-4.3%
Buybacks
2,889
2,079
1,884
+39.0%
Dividends paid
2,119
1,915
1,726
+10.7%
Dividend per share
$5.48
$4.90
$4.30
+11.8%
Diluted shares, weighted
386m
388m
395m
-0.4%
Shares outstanding at period end
375m
380m
385m
-1.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
16,502
19,369
18,283
-14.8%
Non-controlling interest
163
178
135
-8.4%
Debt
17,882
15,775
12,068
+13.4%
Other liabilities
24,840
19,244
18,830
+29.1%
Total liabilities and equity
59,387
54,566
49,316
+8.8%
Fixed assets
5,926
5,793
5,789
+2.3%
Goodwill
18,277
17,707
15,895
+3.2%
Intangible assets
4,496
4,634
4,577
-3.0%
Investments
3,758
1,520
n/a
+147.2%
Cash and equivalents
7,059
7,843
5,455
-10.0%
Receivables
8,866
8,177
8,075
+8.4%
Inventory
4,613
4,366
4,420
+5.7%
Other assets
6,392
4,526
5,105
+41.2%
Total assets
59,387
54,566
49,316
+8.8%
10-K for the year ended 31 December 2017, filed 8 February 2019: the filing.