Honeywell International (HON) FY2020 results: revenue $32.6 billion, down 11.1% on the year
Honeywell International Inc. (HON) reported revenue of $32.6 billion for fiscal 2020, the year ended 31 December 2020, down 11.1% on the year before. Net income was $4.8 billion, down 22.2%, and diluted earnings per share $13.44. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$32.6 billion
-11.1% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$4.8 billion
-22.2% on the year
FY2013FY2020
Diluted EPS
$13.44
-20.1% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
32,637
36,709
41,802
-11.1%
Cost of revenue
22,169
24,339
29,046
-8.9%
Gross profit
10,468
12,370
12,756
-15.4%
Gross margin
32.1%
33.7%
30.5%
Research and development
1,334
1,556
1,809
-14.3%
Selling, general and administrative
4,772
5,519
6,051
-13.5%
Pre-tax income
6,012
7,559
7,487
-20.5%
Income tax
1,147
1,329
659
-13.7%
Effective tax rate
19.1%
17.6%
8.8%
Net income
4,779
6,143
6,765
-22.2%
Net margin
14.6%
16.7%
16.2%
Diluted EPS
$13.44
$16.82
$17.96
-20.1%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
6,208
6,897
6,434
-10.0%
Capital expenditure
906
839
828
+8.0%
Free cash flow
5,302
6,058
5,606
-12.5%
Free cash flow margin
16.2%
16.5%
13.4%
Cash from investing
-987
-533
1,027
Cash from financing
-81.0
-6,600
-5,032
Depreciation and amortisation
1,003
1,088
1,116
-7.8%
Share-based compensation
168
153
175
+9.8%
Buybacks
3,714
4,400
4,000
-15.6%
Dividends paid
2,592
2,442
2,272
+6.1%
Dividend per share
$7.26
$6.72
$6.11
+8.0%
Diluted shares, weighted
356m
365m
376m
-2.6%
Shares outstanding at period end
348m
356m
365m
-2.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
17,549
18,494
18,180
-5.1%
Non-controlling interest
241
212
178
+13.7%
Debt
22,384
16,002
16,214
+39.9%
Operating lease liabilities
641
534
0.0
+20.0%
Finance lease liabilities
124
156
n/a
-20.5%
Other liabilities
23,647
23,281
23,201
+1.6%
Total liabilities and equity
64,586
58,679
57,773
+10.1%
Fixed assets
5,570
5,325
5,296
+4.6%
Goodwill
16,058
15,563
15,546
+3.2%
Intangible assets
3,560
3,734
4,139
-4.7%
Investments
945
1,349
1,623
-29.9%
Cash and equivalents
14,275
9,067
9,287
+57.4%
Receivables
6,827
7,493
7,508
-8.9%
Inventory
4,489
4,421
4,326
+1.5%
Other assets
12,862
11,727
10,048
+9.7%
Total assets
64,586
58,679
57,773
+10.1%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.