Honeywell International (HON) FY2023 results: revenue $33.0 billion, down 6.9% on the year
Honeywell International Inc. (HON) reported revenue of $33.0 billion for fiscal 2023, the year ended 31 December 2023, down 6.9% on the year before. Net income was $5.7 billion, up 13.9%, and diluted earnings per share $16.94. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$33.0 billion
-6.9% on the year
FY2016FY2023
Operating margin
22.9%
22.6% a year earlier
FY2016FY2023
Net income
$5.7 billion
+13.9% on the year
FY2016FY2023
Diluted EPS
$16.94
+16.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
5,340
5,274
6,038
+1.3%
Capital expenditure
741
766
895
-3.3%
Free cash flow
4,599
4,508
5,143
+2.0%
Free cash flow margin
13.9%
12.7%
15.0%
Cash from investing
-1,293
-93.0
-1,061
Cash from financing
-5,763
-6,330
-8,254
Depreciation and amortisation
1,004
1,204
1,138
-16.6%
Share-based compensation
197
188
217
+4.8%
Buybacks
3,715
4,200
3,380
-11.5%
Dividends paid
2,855
2,719
2,626
+5.0%
Dividend per share
$8.34
$7.94
$7.54
+5.0%
Diluted shares, weighted
334m
342m
350m
-2.2%
Shares outstanding at period end
326m
334m
342m
-2.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
15,856
16,697
18,569
-5.0%
Non-controlling interest
578
622
673
-7.1%
Debt
20,443
19,570
19,599
+4.5%
Operating lease liabilities
897
775
847
+15.7%
Finance lease liabilities
99.0
145
99.0
-31.7%
Other liabilities
23,652
24,466
24,683
-3.3%
Total liabilities and equity
61,525
62,275
64,470
-1.2%
Fixed assets
n/a
5,471
5,562
Goodwill
17,238
17,497
17,756
-1.5%
Intangible assets
3,231
3,222
3,613
+0.3%
Investments
170
483
564
-64.8%
Cash and equivalents
7,925
9,627
10,959
-17.7%
Receivables
7,530
7,440
6,830
+1.2%
Inventory
6,178
5,538
5,138
+11.6%
Other assets
19,253
12,997
14,048
+48.1%
Total assets
61,525
62,275
64,470
-1.2%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.