Honeywell International (HON) FY2018 results: revenue $41.8 billion, up 3.1% on the year
Honeywell International Inc. (HON) reported revenue of $41.8 billion for fiscal 2018, the year ended 31 December 2018, up 3.1% on the year before. Net income was $6.8 billion, up 337.9%, and diluted earnings per share $17.96. The figures are the company's own, from the 10-K it filed with the SEC on 8 February 2019.
Revenue
$41.8 billion
+3.1% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$6.8 billion
+337.9% on the year
FY2011FY2018
Diluted EPS
$17.96
+349.0% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
41,802
40,534
39,302
+3.1%
Cost of revenue
29,046
28,144
27,677
+3.2%
Gross profit
12,756
12,390
12,152
+3.0%
Gross margin
30.5%
30.6%
30.9%
Research and development
1,809
1,835
1,864
-1.4%
Selling, general and administrative
6,051
6,087
5,574
-0.6%
Pre-tax income
7,487
6,950
6,447
+7.7%
Income tax
659
5,362
1,601
-87.7%
Effective tax rate
8.8%
77.2%
24.8%
Net income
6,765
1,545
4,809
+337.9%
Net margin
16.2%
3.8%
12.2%
Diluted EPS
$17.96
$4.00
$12.40
+349.0%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
6,434
5,966
5,498
+7.8%
Capital expenditure
828
1,031
1,095
-19.7%
Free cash flow
5,606
4,935
4,403
+13.6%
Free cash flow margin
13.4%
12.2%
11.2%
Cash from investing
1,027
-3,574
-3,342
Cash from financing
-5,032
-3,516
346
Depreciation and amortisation
1,116
1,115
1,030
+0.1%
Share-based compensation
175
176
184
-0.6%
Buybacks
4,000
2,889
2,079
+38.5%
Dividends paid
2,272
2,119
1,915
+7.2%
Dividend per share
$6.11
$5.48
$4.90
+11.5%
Diluted shares, weighted
376m
386m
388m
-2.5%
Shares outstanding at period end
365m
375m
380m
-2.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
18,180
16,502
19,369
+10.2%
Non-controlling interest
178
163
178
+9.2%
Debt
16,214
17,882
15,775
-9.3%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
23,201
24,840
19,244
-6.6%
Total liabilities and equity
57,773
59,387
54,566
-2.7%
Fixed assets
5,296
5,926
5,793
-10.6%
Goodwill
15,546
18,277
17,707
-14.9%
Intangible assets
4,139
4,496
4,634
-7.9%
Investments
1,623
3,758
1,520
-56.8%
Cash and equivalents
9,287
7,059
7,843
+31.6%
Receivables
7,508
8,866
8,177
-15.3%
Inventory
4,326
4,613
4,366
-6.2%
Other assets
10,048
6,392
4,526
+57.2%
Total assets
57,773
59,387
54,566
-2.7%
10-K for the year ended 31 December 2018, filed 8 February 2019: the filing.