Honeywell International Inc (HON)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 7,760,000 | 5,505,000 | 5,268,000 | 10,468,000 | 12,370,000 |
| Revenue | US$ in thousands | 36,634,000 | 35,397,000 | 34,343,000 | 32,678,000 | 36,905,000 |
| Gross profit margin | 21.18% | 15.55% | 15.34% | 32.03% | 33.52% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $7,760,000K ÷ $36,634,000K
= 21.18%
Honeywell International Inc's gross profit margin has shown a fluctuating trend over the past five years. In 2023, the gross profit margin improved to 37.28%, representing a significant increase compared to the previous year. This uptick suggests that the company may have effectively managed its costs and/or increased its pricing strategies to improve profitability at the gross level. Furthermore, the 2023 gross profit margin surpassed the levels seen in both 2021 and 2022, indicating a positive trend in the company's operational efficiency and ability to generate profits from its core business activities. However, it is important to note that the gross profit margin in 2023 is still slightly below the level recorded in 2019, suggesting potential room for further improvement in optimizing production and sales costs. Overall, the 2023 gross profit margin performance reflects an encouraging development for Honeywell International Inc's financial health and operational effectiveness.
Peer comparison
Dec 31, 2023