Value/share = (PV of forecast FCF + PV of terminal value - net debt) / diluted shares$202.92WACC 7.9% | g 2.5%
Insufficient peer coverage for a publishable comps set.
Enterprise value $140.1B
Value/share = equity value / diluted shares642,800,000Net debt $9.7B
HON Valuation Focus
The search terms investors use for this type of report usually center on valuation, intrinsic value, WACC, peer multiples, and the target price.
Honeywell International Inc. (HON) is valued here with a $202.92 target price versus a current price of $213.97.
The base DCF intrinsic value is $202.92 per share using a 7.9% WACC and 2.5% terminal growth assumption.
Comparable valuation is not blended into the published target because the available peer set was not strong enough for a reliable range.
Growth and Investment Outlook
This section keeps the long-term growth, investment outlook, and historical revenue/net income trend visible before the detailed valuation tables.
The model starts from 3.1% revenue growth and fades toward 3.5% steady-state growth under a platform forecast profile.
The current public outlook is HOLD, with a $202.92 target price and -5.2% modeled upside/downside. The main valuation cross-check is the DCF value of $202.92 per share.
Analyst estimate inputs are used where available for forecast years 1, 2, 3. This page is not an external analyst-ratings feed; it is a public valuation note built from the available report data.
| Fiscal year | Revenue | Revenue growth | Net income | Net income growth |
|---|---|---|---|---|
| 2023 | $33.0B | -6.9% | $5.7B | 13.9% |
| 2024 | $34.7B | 5.2% | $5.7B | 0.8% |
| 2025 | $37.4B | 7.8% | $4.7B | -17.1% |
Investment Summary
The call, the valuation anchor, and the main risk in one view.
HOLD Honeywell International Inc. is rated HOLD with a target price of $202.92 versus the current price of $213.97.
The DCF implies $202.92 per share. Comparable valuation is excluded here because the available peer set was not strong enough for a reliable range.
First, revenue growth could decelerate faster than the model fade path, especially if current market demand is cyclical.
Key Data
Quick facts investors usually scan first.
- Sector
- Industrials
- Industry
- Conglomerates
- Exchange
- NASDAQ
- Market Cap
- $135.6B
- Revenue
- $37.4B
- Free Cash Flow
- $5.4B
Latest Update / What Changed
Updates focus on what changed in the rating, target price, valuation assumptions, peer context, and main risks.
Still HOLD
+$0.00 versus the prior published target of $202.92.
Last captured on 6/7/2026 with -5.2% modeled upside.
Pro includes the full change log, watchlist alerts, and weekly digest for readers following multiple names.
Revenue Growth
Historical revenue plus a 5-year forecast shaped by analyst estimates in the early years and a deterministic platform fade after that.
Price History
Use the range selector to compare shorter and longer setups.
DCF Sensitivity Grid
The grid shows DCF-only value per share across WACC and terminal growth assumptions. The published target price can differ because it currently relies on DCF only.
Base-case DCF and the center cell should reconcile closely because both use the same blended terminal-value method (7.9% WACC / 2.5% g). The published target currently equals the DCF output because comparable coverage was insufficient.
Base-case cell: $203.03 using 7.9% WACC and 2.5% terminal growth.
| WACC \ g | 1.5% | 2% | 2.5% | 3% | 3.5% |
|---|---|---|---|---|---|
| 5.9% | $241.13 | $255.11 | $273.22 | $297.59 | $332.17 |
| 6.9% | $211.76 | $220.49 | $231.20 | $244.67 | $262.11 |
| 7.9% | $190.17 | $196.05 | $203.03 | $211.44 | $221.76 |
| 8.9% | $173.29 | $177.48 | $182.33 | $188.01 | $194.73 |
| 9.9% | $159.52 | $162.63 | $166.17 | $170.21 | $174.88 |
Peer Multiples
Simple comparable valuation cross-check using selected public-market peers.
Comparable valuation is not shown because fewer than three suitable peers had usable valuation data after screening for industry, size, and exchange.
Pro Toolkit
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Revision History
Pro keeps the revision trail for refreshed reports so changes in target price, rating, and assumptions are easy to inspect.
Unlock revision historyHow to Read the Valuation
Plain-English definitions for the main inputs and outputs.
The base-case valuation discounts forecast cash flows using a WACC of 7.9%. The cost of equity starts from a 10-year Treasury yield of 4.6% as of Jun 5, 2026. Higher discount rates reduce present value, while lower ones increase it.
After year five, the model uses a terminal growth rate of 2.5% to estimate continuing value. In the base case, terminal value is blended with an exit-multiple cross-check rather than relying on perpetuity growth alone.
Revenue starts from 3.1% and fades toward a steady-state growth rate of 3.5% under a platform profile. The first 3 forecast years use analyst estimates where coverage is available.
Peer multiples anchor a market-based valuation range and help test whether the DCF output looks reasonable relative to similar businesses. If the available peer set is not strong enough, the published target stays DCF-only.
Honeywell International Inc. (HON)
Company Snapshot
- Sector: Industrials
- Industry: Conglomerates
- Exchange: NASDAQ
- Current Price: $213.97
- Target Price: $202.92
- Recommendation: HOLD
- Market Cap: $135.6B
Honeywell International Inc. screens HOLD with a DCF-based target price of $202.92, versus a current price of $213.97 and modeled upside of -5.2%.
Investment Thesis
Honeywell International Inc. screens as a HOLD because the automated valuation stack points to -5.2% upside versus the current market price. The DCF carries most of the target price and is supported by a business that still compounds from a $37.4B revenue base while sustaining 18.2% EBIT margins.
Business Overview
Honeywell International Inc. operates in conglomerates within the industrials sector. The company is modeled as a US-listed business with revenue in USD and exchange exposure through NASDAQ. The current report structure is built for equity research use cases: company snapshot, thesis, financial analysis, valuation, and risk framing.
Financial Analysis
Historical statements indicate a business with improving operating leverage and positive free cash flow generation. Our rules-based forecast extends that pattern over five years using normalized revenue growth, margin stabilization, capital intensity, and working capital behavior. DCF fair value lands at $202.92 per share, while the blended target price after applying comparable valuation support is $202.92. Comparable valuation is treated as unavailable because the available peer set is not strong enough for a reliable public range.
Latest Reported Snapshot
| Metric | Value |
|---|---|
| Revenue | $37.4B |
| EBIT | $6.8B |
| EBITDA | $8.2B |
| Free Cash Flow | $5.4B |
| Diluted Shares | 642,800,000 |
DCF Valuation
| Metric | Value |
|---|---|
| Intrinsic Value / Share | $202.92 |
| Forecast Profile | platform |
| Starting Growth | 3.1% |
| Steady-State Growth | 3.5% |
| Risk-Free Rate | 4.6% |
| Equity Risk Premium | 4.5% |
| WACC | 7.9% |
| Terminal Growth | 2.5% |
| Exit Multiple | 16x |
| Enterprise Value | $140.1B |
| Equity Value | $130.4B |
| Upside / Downside | -5.2% |
Comparable Valuation
| Metric | Value |
|---|---|
| Comparable Coverage | Insufficient |
| Peer Set Support | N/A |
| Median EV/EBITDA | N/A |
| Median P/E | N/A |
| Fair Value Low | N/A |
| Fair Value High | N/A |
| Fair Value Mid | N/A |
Comparable valuation is unavailable because there are not enough suitable peers with usable valuation data.
Risks
Key risks remain deterministic rather than narrative-only. First, revenue growth could decelerate faster than the model fade path, especially if current market demand is cyclical. Second, margin normalization may prove too optimistic if price competition, mix shift, or incremental operating expense dilute returns. Third, valuation is sensitive to the discount rate: WACC at 7.9% and terminal growth at 2.5% are reasonable base assumptions, but even modest moves in either direction can materially shift intrinsic value.
Research Notes and Disclaimer
Important context around timing, methodology, and usage.
Published June 8, 2026. Market data is shown as of Jun 5, 2026 and financial statements run through Dec 31, 2025.
Valuation outputs are deterministic and rules-based. Narrative sections are generated from structured report data and should be read alongside the valuation tables and sensitivity analysis. The risk-free rate is sourced from financial-modeling-prep.
This report is provided for information only and does not take into account your objectives, risk tolerance, or financial circumstances.
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