Honeywell International (HON) FY2019 results: revenue $36.7 billion, down 12.2% on the year
Honeywell International Inc. (HON) reported revenue of $36.7 billion for fiscal 2019, the year ended 31 December 2019, down 12.2% on the year before. Net income was $6.1 billion, down 9.2%, and diluted earnings per share $16.82. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$36.7 billion
-12.2% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$6.1 billion
-9.2% on the year
FY2012FY2019
Diluted EPS
$16.82
-6.3% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
36,709
41,802
40,534
-12.2%
Cost of revenue
24,339
29,046
28,144
-16.2%
Gross profit
12,370
12,756
12,390
-3.0%
Gross margin
33.7%
30.5%
30.6%
Research and development
1,556
1,809
1,835
-14.0%
Selling, general and administrative
5,519
6,051
6,087
-8.8%
Pre-tax income
7,559
7,487
6,950
+1.0%
Income tax
1,329
659
5,362
+101.7%
Effective tax rate
17.6%
8.8%
77.2%
Net income
6,143
6,765
1,545
-9.2%
Net margin
16.7%
16.2%
3.8%
Diluted EPS
$16.82
$17.96
$4.00
-6.3%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,897
6,434
5,966
+7.2%
Capital expenditure
839
828
1,031
+1.3%
Free cash flow
6,058
5,606
4,935
+8.1%
Free cash flow margin
16.5%
13.4%
12.2%
Cash from investing
-533
1,027
-3,574
Cash from financing
-6,600
-5,032
-3,516
Depreciation and amortisation
1,088
1,116
1,115
-2.5%
Share-based compensation
153
175
176
-12.6%
Buybacks
4,400
4,000
2,889
+10.0%
Dividends paid
2,442
2,272
2,119
+7.5%
Dividend per share
$6.72
$6.11
$5.48
+10.0%
Diluted shares, weighted
365m
376m
386m
-3.0%
Shares outstanding at period end
356m
365m
375m
-2.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
18,494
18,180
16,502
+1.7%
Non-controlling interest
212
178
163
+19.1%
Debt
16,002
16,214
17,882
-1.3%
Operating lease liabilities
534
0.0
n/a
Finance lease liabilities
156
n/a
n/a
Other liabilities
23,281
23,201
24,840
+0.3%
Total liabilities and equity
58,679
57,773
59,387
+1.6%
Fixed assets
5,325
5,296
5,926
+0.5%
Goodwill
15,563
15,546
18,277
+0.1%
Intangible assets
3,734
4,139
4,496
-9.8%
Investments
1,349
1,623
3,758
-16.9%
Cash and equivalents
9,067
9,287
7,059
-2.4%
Receivables
7,493
7,508
8,866
-0.2%
Inventory
4,421
4,326
4,613
+2.2%
Other assets
11,727
10,048
6,392
+16.7%
Total assets
58,679
57,773
59,387
+1.6%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.