What is the primary revenue source for Honeywell (HON)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze HON's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Honeywell's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Honeywell Makes Money: HON Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

The largest revenue segment accounts for 64.9% of revenue, indicating concentration.

Revenue: USD 18.86B
Largest revenue segment share (Product): 64.90%
Cost of revenue: USD 11.67B
Selling, general and administrative: USD 2.65B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Largest revenue segment share (Product)Product · segment_value / revenue * 100
RevenueNet sales · RevenueFromContractWithCustomerExcludingAssessedTax
Cost of revenueTotal cost of products and services sold · CostOfGoodsAndServicesSold
Selling, general and administrativeSelling, general and administrative expenses · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Watch

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Goodwill accounts for 25.82% of total assets, a high share where impairment could hit earnings and equity.

Goodwill: USD 19.97B
Cash and cash equivalents: USD 8.75B
Accounts receivable: USD 8.34B
Shareholder equity: USD 18.86B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityTotal shareowners’ equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Cash and cash equivalentsCash and cash equivalents · CashAndCashEquivalentsAtCarryingValue
GoodwillGoodwill · Goodwill
Accounts receivableAccounts receivable, less allowances of $172 and $202, respectively · AccountsReceivableNetCurrent

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

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Operating cash flow is positive, but profit-to-cash conversion is relatively weak.

Operating cash flow equals 9.63% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 6.50B
Operating cash flow: USD 626.00M
Cash conversion: 9.63%
Free cash flow: USD 88.00M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income attributable to honeywell technologies · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionNet cash provided by operating activities from continuing operations · operating_cash_flow / net_income * 100
Operating cash flowNet cash provided by operating activities from continuing operations · NetCashProvidedByUsedInOperatingActivitiesContinuingOperations

Shareholders

Did the money earned actually make its way back to shareholders?

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Dividends and net buybacks exceed free cash flow, raising questions about sustainability.

Cash dividends: USD 1.58B
Share repurchases: USD 1.00B
Stock issuance proceeds: USD 199.00M
Net shareholder return: USD 2.38B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsProceeds from issuance of common stock

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?