Analyst Consensus ?
ConsensusBuy30 ratings
Bullish2066.7%
Neutral1033.3%
Bearish00.0%
Honeywell International Inc. · HON · FY2025 Q4 · Calendar Q1 2026
Honeywell Enters 2026 With Record Backlog and Portfolio Changes
Honeywell's current analysis supports a constructive operating view: strong orders, a record backlog, pricing execution and new products provide support for 2026 growth. The thesis is conditional on management executing the aerospace separation and divestitures while converting backlog into sales and expanding margins.
Reported Before market openNASDAQIndustrials
$66.60B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$5.18
Consensus $5.08
EPS surprise
+2.0%
Reported versus consensus
Reported revenue
$9.76B
Consensus $9.96B
Revenue surprise
-2.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-0.6%
Event window
SPY move
-1.2%
Same window
Abnormal move
+0.6%
Stock minus SPY
Volume
0.9×
Versus trailing sessions
Subsequent drift
+0.6%
Up to 20 sessions
HONSPY benchmark
Ask FN2 about HON FY2025 Q4
Transcript, numbers and history already loaded
Why did HON fall 0.6% after beating EPS estimates in FY2025 Q4?What changed in HON's guidance and outlook in FY2025 Q4?Give me the bull and bear case for HON after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The current analysis adds 23% organic order growth, a record $37 billion backlog, the completed Solstice spin-off, the Helios quantum-computer launch and a planned Q3 2026 aerospace spin-off. Compared with the prior quarter, portfolio simplification has progressed and 2026 guidance is now reaffirmed.
Guidance delta
Management reaffirmed 2026 guidance for $38.8-$39.8 billion of sales, $10.35-$10.65 of EPS and 20-60 basis points of margin expansion.
Key takeaways
- Organic orders grew 23% in Q4 2025, and backlog reached a record $37 billion.
- Management highlighted price execution, new products, Honeywell Forge and quantum-computing progress as growth drivers.
- Portfolio simplification is advancing, including the planned aerospace spin-off and 2026 business sales.
- Capital deployment is focused on debt reduction, dividends, share repurchases and modestly higher capital spending.
Management priorities
- Convert the record backlog into sales.
- Execute the planned aerospace spin-off and divestitures while reducing stranded costs.
- Expand Honeywell Forge and advance new products, including Helios and next-generation quantum machines.
- Use pricing discipline and capital allocation to support margins and free cash flow.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$210.94Current
$175Low
$239.49Average
$293High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 31, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 18, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 14, 2026 |
| B of A Securities | Neutral | Underperform | Upgrade | Jul 28, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Jul 27, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 27, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 24, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Jul 13, 2026 |
| Deutsche Bank | Buy | Buy | Maintain | Jun 30, 2026 |
| Daiwa Capital | Outperform | Neutral | Upgrade | Jun 30, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jun 10, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Jun 3, 2026 |
| TD Cowen | Buy | Buy | Maintain | Apr 24, 2026 |
| Jefferies | Hold | Hold | Maintain | Mar 4, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Feb 27, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jan 30, 2026 |
| Baird | Neutral | Neutral | Maintain | Feb 7, 2025 |
| UBS | Neutral | Sell | Upgrade | Jun 10, 2024 |
| Berenberg | Buy | Hold | Upgrade | Mar 6, 2024 |
| HSBC | Hold | Hold | Maintain | Feb 14, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Feb 3, 2023 |
| Argus Research | Buy | Buy | Maintain | Feb 1, 2021 |
| Bank of America | Buy | Buy | Maintain | Nov 26, 2019 |
| Oppenheimer | Market Perform | Outperform | Downgrade | Jan 8, 2019 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Stifel Nicolaus | Buy | Buy | Maintain | Apr 23, 2018 |
| Stifel | Buy | Buy | Maintain | Apr 23, 2018 |
| Bernstein | Outperform | Outperform | Maintain | Jul 25, 2016 |
| Ladenburg Thalmann | Buy | Hold | Upgrade | Jan 27, 2014 |
| Nomura | Neutral | Buy | Downgrade | Jul 22, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $210.94. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Stephen Tusa | $231 | $211.79 | +9.5% | Sep 24, 2026 |
| Morgan Stanley | Analyst unavailable | $250 | $217.43 | +18.5% | Aug 31, 2026 |
| RBC Capital | Analyst unavailable | $293 | $229.15 | +38.9% | Aug 18, 2026 |
| Jefferies | Analyst unavailable | $255 | $229.95 | +20.9% | Aug 17, 2026 |
| Jefferies | Sheila Kahyaoglu | $175 | $246.21 | -17.0% | Aug 9, 2026 |
| Jefferies | Analyst unavailable | $265 | $245.75 | +25.6% | Jul 28, 2026 |
| UBS | Analyst unavailable | $265 | $245.81 | +25.6% | Jul 27, 2026 |
| BMO Capital | Daniel DiCicco | $276 | $243.15 | +30.8% | Jul 27, 2026 |
| RBC Capital | Analyst unavailable | $298 | $242.65 | +41.3% | Jul 24, 2026 |
| Bernstein | Analyst unavailable | $243 | $226.42 | +15.2% | Jul 12, 2026 |
| Wolfe Research | Analyst unavailable | $265 | $220.6 | +25.6% | Jul 9, 2026 |
| Deutsche Bank | Nicole Deblase | $263 | $223.75 | +24.7% | Jun 30, 2026 |
| Daiwa | Analyst unavailable | $255 | $227.8 | +20.9% | Jun 30, 2026 |
| Barclays | Analyst unavailable | $239 | $215.7 | +13.3% | Jun 10, 2026 |
| Bernstein | Varun Govindaraj | $233 | $215.7 | +10.5% | Jun 9, 2026 |
| RBC Capital | Deane Dray | $275 | $217.12 | +30.4% | Jun 5, 2026 |
| Goldman Sachs | Joe Ritchie | $276 | $235.23 | +30.8% | Jun 3, 2026 |
| Wolfe Research | Nigel Coe | $275 | $233 | +30.4% | May 29, 2026 |
| Barclays | Analyst unavailable | $251 | $231.72 | +19.0% | May 27, 2026 |
| Barclays | Analyst unavailable | $243 | $214.34 | +15.2% | Apr 24, 2026 |
| BMO Capital | Analyst unavailable | $273 | $225.17 | +29.4% | Mar 26, 2026 |
| Barclays | Julian Mitchell | $275 | $246.16 | +30.4% | Mar 3, 2026 |
| Goldman Sachs | Analyst unavailable | $262 | $243.97 | +24.2% | Feb 23, 2026 |
| Jefferies | Analyst unavailable | $240 | $229.35 | +13.8% | Feb 3, 2026 |
| RBC Capital | Analyst unavailable | $268 | $228.92 | +27.1% | Jan 30, 2026 |
| Robert W. Baird | Peter Arment | $240 | $227.24 | +13.8% | Jan 30, 2026 |
| Wells Fargo | Joseph O'Dea | $235 | $227.24 | +11.4% | Jan 30, 2026 |
| Barclays | Analyst unavailable | $259 | $227.24 | +22.8% | Jan 30, 2026 |
| Bernstein | Analyst unavailable | $255 | $215.02 | +20.9% | Jan 16, 2026 |
| RBC Capital | Analyst unavailable | $249 | $213.98 | +18.0% | Jan 15, 2026 |
| Wells Fargo | Joseph O'Dea | $215 | $204.94 | +1.9% | Jan 7, 2026 |
| Vertical Research | Jeffrey Sprague | $220 | $199.7 | +4.3% | Jan 5, 2026 |
| Mizuho Securities | Brett Linzey | $240 | $195.88 | +13.8% | Jan 5, 2026 |
| Barclays | Julian Mitchell | $250 | $195.5 | +18.5% | Dec 24, 2025 |
| Evercore ISI | Alexander Virgo | $255 | $193.64 | +20.9% | Dec 15, 2025 |
| Barclays | Analyst unavailable | $269 | $193.47 | +27.5% | Dec 4, 2025 |
| BNP Paribas | Andrew Buscaglia | $195 | $193.15 | -7.6% | Dec 3, 2025 |
| Morgan Stanley | Analyst unavailable | $235 | $213.95 | +11.4% | Oct 28, 2025 |
| Goldman Sachs | Joe Ritchie | $245 | $218.43 | +16.1% | Oct 27, 2025 |
| Wells Fargo | Joseph O'Dea | $230 | $216.14 | +9.0% | Oct 27, 2025 |
| RBC Capital | Deane Dray | $253 | $216.14 | +19.9% | Oct 27, 2025 |
| RBC Capital | Analyst unavailable | $235 | $215.8 | +11.4% | Oct 24, 2025 |
| UBS | Analyst unavailable | $258 | $218.46 | +22.3% | Oct 24, 2025 |
| Barclays | Julian Mitchell | $247 | $213.12 | +17.1% | Mar 26, 2025 |
| Barclays | Julian Mitchell | $255 | $220.63 | +20.9% | Jan 8, 2025 |
| Wells Fargo | Joseph O'Dea | $240 | $220.63 | +13.8% | Jan 7, 2025 |
| Bank of America Securities | Andrew Obin | $230 | $209.1 | +9.0% | Oct 24, 2024 |
| Mizuho Securities | Brett Linzey | $245 | $204.67 | +16.1% | Sep 13, 2024 |
| Morgan Stanley | Chris Snyder | $210 | $202.98 | -0.4% | Sep 6, 2024 |
| RBC Capital | Deane Dray | $214 | $202.28 | +1.5% | Jul 26, 2024 |
| UBS | Damian Karas | $215 | $208.78 | +1.9% | Jun 10, 2024 |
| RBC Capital | Deane Dray | $218 | $205.6 | +3.3% | Jun 4, 2024 |
| Deutsche Bank | Nicole DeBlase | $215 | $194.04 | +1.9% | Apr 15, 2024 |
| Berenberg Bank | Philip Buller | $240 | $200.5 | +13.8% | Mar 6, 2024 |
| J.P. Morgan | Stephen Tusa | $215 | $208.26 | +1.9% | Jul 27, 2023 |
| Wells Fargo | Joseph O’Dea | $180 | $172.8 | -14.7% | Jul 17, 2022 |
| Barclays | Julian Mitchell | $204 | $169.51 | -3.3% | Jul 15, 2022 |
| Deutsche Bank | Nicole DeBlase | $211 | $169.39 | +0.0% | Jul 14, 2022 |
| Morgan Stanley | Joshua Pokrzywinski | $194 | $195.19 | -8.0% | Jun 7, 2022 |
| Wells Fargo | Joseph O’Dea | $203 | $195.43 | -3.8% | May 8, 2022 |
| Credit Suisse | Analyst unavailable | $206 | $200.34 | -2.3% | May 2, 2022 |
| Morgan Stanley | Analyst unavailable | $216 | $200.12 | +2.4% | May 2, 2022 |
| Citigroup | Analyst unavailable | $232 | $193.51 | +10.0% | May 2, 2022 |
| Deutsche Bank | Nicole DeBlase | $230 | $192.07 | +9.0% | Apr 19, 2022 |
| Cowen & Co. | Gautam Khanna | $230 | $196.03 | +9.0% | Apr 3, 2022 |
| Wells Fargo | Joseph O’Dea | $209 | $187.43 | -0.9% | Mar 5, 2022 |
| UBS | Markus Mittermaier | $220 | $182.13 | +4.3% | Feb 20, 2022 |
| Wells Fargo | Joseph O'Dea | $205 | $192.48 | -2.8% | Feb 7, 2022 |
| Citigroup | Andrew Kaplowitz | $248 | $191.5 | +17.6% | Feb 6, 2022 |
| J.P. Morgan | Stephen Tusa | $235 | $190.45 | +11.4% | Feb 4, 2022 |
| Robert W. Baird | Peter Arment | $243 | $190.69 | +15.2% | Feb 3, 2022 |
| Mizuho Securities | Brett Linzey | $235 | $190.69 | +11.4% | Feb 3, 2022 |
| Jefferies | Sheila Kahyaoglu | $230 | $203.33 | +9.0% | Jan 23, 2022 |
| Berenberg Bank | Phil Buller | $230 | $216.46 | +9.0% | Jan 14, 2022 |
| Credit Suisse | John Walsh | $226 | $209 | +7.1% | Jan 4, 2022 |
| Bank of America Securities | Andrew Obin | $245 | $203.53 | +16.1% | Dec 8, 2021 |
| Wolfe Research | Nigel Coe | $259 | $221.94 | +22.8% | Jul 12, 2021 |
Track every rating change on HON the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationHoneywell International Inc. functions as a global leader in diversified technology and manufacturing. Its Aerospace division furnishes a comprehensive array of products and services for the aviation and space industries. This includes crucial components like auxiliary power units, propulsion systems, integrated avionics, environmental control mechanisms, and electrical power solutions. The segment also supplies engine controls, flight safety systems, communication and navigation hardware, and advanced data and software applications. Additionally, it provides radar, surveillance systems, aircraft lighting, sophisticated instruments, satellite and space components, and aircraft wheels and brakes. Essential support services cover spare parts, repairs, overhauls, maintenance, thermal systems, and wireless connectivity management. The Honeywell Building Technologies unit focuses on creating smarter, safer, and more efficient structures.…
Historical context
All HON earningsIndustrials peers this season
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Latest beats and misses
Who reports nextBeat on EPS
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Get the HON recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars · 2026-09-30T18:46:06.562186+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-30T18:46:06.559160+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-30. For educational purposes only; not investment advice.