Question 1

What is Honeywell International's P/FCF ratio?

Accepted Answer

Honeywell International (HON) P/FCF ratio is 18.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Honeywell International?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Honeywell International specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Is Honeywell International's P/FCF ratio high or low?

Accepted Answer

Honeywell International's P/FCF ratio of 18.1× is above its own 5-year average of 14.2× and below the sector median of 24.3×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Honeywell International's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Honeywell International (HON) P/FCF ratio has ranged from a low of 3.8× in 2009 to a high of 38.4× in 2023. The 5-year average is 14.2× and the 5-year median is 14.2×.

Question 7

What was Honeywell International's P/FCF ratio in 2025?

Accepted Answer

Honeywell International (HON) P/FCF ratio at the end of 2025 was 11.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Honeywell International's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$62B	$5.33B	11.6×	-2.4×	Dec 31, 2025
2024	$73.5B	$5.23B	14.1×	-1.9×	Dec 31, 2024
2023	$68.8B	$4.3B	16.0×	+0.1×	Dec 31, 2023
2022	$71.9B	$4.51B	15.9×	+2.0×	Dec 31, 2022
2021	$71.8B	$5.14B	14.0×	-0.1×	Dec 31, 2021
2020	$74.6B	$5.3B	14.1×	+3.7×	Dec 31, 2020
2019	$63.1B	$6.06B	10.4×	+1.8×	Dec 31, 2019
2018	$48.5B	$5.61B	8.6×	-2.6×	Dec 31, 2018
2017	$55.6B	$4.94B	11.3×	+1.7×	Dec 31, 2017
2016	$42.3B	$4.4B	9.6×	+0.9×	Dec 31, 2016
2015	$38B	$4.38B	8.7×	-0.8×	Dec 31, 2015
2014	$37.3B	$3.93B	9.5×	-0.6×	Dec 31, 2014
2013	$34.2B	$3.39B	10.1×	+1.1×	Dec 31, 2013
2012	$23.8B	$2.63B	9.0×	-0.8×	Dec 31, 2012
2011	$20B	$2.04B	9.8×	+4.3×	Dec 31, 2011
2010	$19.6B	$3.55B	5.5×	+1.3×	Dec 31, 2010
2009	$14.2B	$3.34B	4.3×	+0.3×	Dec 31, 2009
2008	$11.4B	$2.91B	3.9×	-3.0×	Dec 31, 2008
2007	$21.8B	$3.14B	6.9×	-0.1×	Dec 31, 2007
2006	$17.5B	$2.48B	7.0×	-1.4×	Dec 31, 2006
2005	$14.9B	$1.76B	8.5×	-0.3×	Dec 31, 2005
2004	$14.3B	$1.62B	8.8×	-0.1×	Dec 31, 2004
2003	$13.7B	$1.54B	8.9×	+3.4×	Dec 31, 2003
2002	$9.37B	$1.71B	5.5×	—	Dec 31, 2002


Pentair (PNR)	19.8×
Thomson Reuters (TRI)	18.8×
PACCAR (PCAR)	18.6×
United Parcel Service (UPS)	18.5×
Gorman-Rupp (GRC)	18.5×
Alamo Group (ALG)	18.0×
Allegion (ALLE)	17.8×
Snap-on (SNA)	17.6×
United Airlines Holdings (UAL)	17.5×
Equifax (EFX)	17.0×
Norfolk Southern (NSC)	16.9×
FedEx (FDX)	15.9×
AGCO (AGCO)	15.4×
General Dynamics (GD)	15.3×
Carlisle Companies (CSL)	14.7×
Amentum Holdings (AMTM)	14.7×
Stanley Black & Decker (SWK)	14.4×
A. O. Smith (AOS)	14.2×
Huntington Ingalls Industries (HII)	14.1×
McGrath RentCorp (MGRC)	13.9×
Masco (MAS)	13.0×
Pool (POOL)	12.2×
Delta Air Lines (DAL)	10.1×
ABM Industries (ABM)	7.2×
Upwork (UPWK)	6.3×

P/FCF Ratio for Honeywell International (HON) 2002-2026

P/FCF Ratio daily chart for Honeywell International (HON)

Historical P/FCF Ratio for Honeywell International (HON) from 2002 to 2025

About P/FCF Ratio at Honeywell International (HON)

Honeywell International P/FCF Ratio by Year

Honeywell International P/FCF Ratio 2025: 11.6×

Honeywell International P/FCF Ratio 2024: 14.1×

Honeywell International P/FCF Ratio 2023: 16.0×

Honeywell International P/FCF Ratio 2022: 15.9×

Honeywell International P/FCF Ratio 2021: 14.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Honeywell International (HON) Key Financials