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Honeywell International cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$286M in Q3 2026 · $967M over twelve months

Operating cash flow$117M
Capital spending$169M
Free cash flow+$286M
Cash / net income0.2×
Cash conversion cycle100 days

Analysis

In Q3 2026, Honeywell International generated $117M of operating cash flow and spent −$169M on capital projects, leaving free cash flow of $286M. That is $3.0B less than in Q3 2025 ($3.3B).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.9B; the largest uses were net borrowing (+) / repaid (−) ($20.5B), dividends ($2.6B), acquisitions ($1.8B); besides operations, cash came from other financing ($16.5B), asset & business sales ($1.5B); the cash balance fell by $7.2B.

Operating cash flow was $117M against net income of $676M — 0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: accrued liabilities +$497M, deferred taxes −$275M, depreciation & amortization +$256M.

Its cash conversion cycle was 100 days (receivables 124 + inventory 131 − payables 154).

Free cash flow

Honeywell International: free cash flow by quarterHoneywell International: free cash flow by quarter$2.2BQ4 2024$407MQ1 2025$1.1BQ2 2025$3.3BQ3 2025$593MQ4 2025−$873MQ1 2026$961MQ2 2026$286MQ3 2026
Operating cash flow less capital spending.
Honeywell International: operating cash flow against capital spendingHoneywell International: operating cash flow against capital spendingOperating cash flowCapital spending$2.3B$100MQ4 2024$597M$190MQ1 2025$1.3B$226MQ2 2025$3.3B−$41.0MQ3 2025$1.2B$611MQ4 2025−$650M$223MQ1 2026$1.3B$315MQ2 2026$117M−$169MQ3 2026
Latest (Q3 2026): Operating cash flow $117M, Capital spending −$169M.

Capital allocation, year by year

Honeywell International: where the cash came from (up) and went (down), by fiscal yearHoneywell International: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $6.0BFY2021: Net borrowing −$2.4BFY2021: Shares issued $229MFY2021: Asset sales $230MFY2021: Capital spending −$895MFY2021: Acquisitions −$1.3BFY2021: Buybacks −$3.4BFY2021: Dividends −$2.6B$6.5BFY2021FY2022: Operating cash flow $5.3BFY2022: Net borrowing $317MFY2022: Shares issued $320MFY2022: Asset sales $29.0MFY2022: Capital spending −$766MFY2022: Acquisitions −$178MFY2022: Buybacks −$4.2BFY2022: Dividends −$2.7B$5.9BFY2022FY2023: Operating cash flow $5.3BFY2023: Net borrowing $583MFY2023: Shares issued $196MFY2023: Asset sales $47.0MFY2023: Capital spending −$741MFY2023: Acquisitions −$718MFY2023: Buybacks −$3.7BFY2023: Dividends −$2.9B$6.2BFY2023FY2024: Operating cash flow $6.1BFY2024: Net borrowing $10.9BFY2024: Shares issued $537MFY2024: Capital spending −$871MFY2024: Acquisitions −$8.9BFY2024: Buybacks −$1.7BFY2024: Dividends −$2.9B$17.5BFY2024FY2025: Operating cash flow $6.4BFY2025: Net borrowing $2.6BFY2025: Shares issued $237MFY2025: Asset sales $1.2BFY2025: Capital spending −$986MFY2025: Acquisitions −$2.2BFY2025: Buybacks −$3.8BFY2025: Dividends −$3.0B$10.4BFY2025
Over these 5 years operating cash flow totalled $29.2B; the largest uses were buybacks ($16.8B) and dividends ($14.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$6.2B
Debt$16.6B
Net debt$10.4B
Due within a year$1.5B

Honeywell International funds itself: free cash flow was $967M over the last twelve months, and $6.2B of cash and investments stands against $16.6B of debt ($1.5B due within a year, 4.0× covered by cash).

Honeywell International: debt maturities by year (FY2025)Honeywell International: debt maturities by year (FY2025)$1.5BYear 1$6.7BYear 2$1.6BYear 3$2.0BYear 4$2.8BYear 5$14.3BAfter year 5
Principal due in each year as disclosed in the annual report, against $6.2B of cash and investments now.

Where the cash came from and went

Honeywell International: sources (+) and uses (−) of cash, Q3 2026Honeywell International: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$3.1BAcquisitions−$1.7BNet borrowing (+) / repaid (−)−$1.6BAsset & business sales$1.4BOther financing−$1.0BOther investing−$307MDividends−$240MCapital spending$169MOperating cash flow$117MShares issued$47.0MExchange rates$22.0M
Honeywell International: sources (+) and uses (−) of cash, TTM to Q3 2026Honeywell International: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)−$20.5BOther financing$16.5BCash drawn (+) / kept (−)$7.2BDividends−$2.6BOperating cash flow$1.9BAcquisitions−$1.8BAsset & business sales$1.5BBuybacks−$1.1BCapital spending−$980MOther investing−$517MShares issued$343MExchange rates−$37.0M

From profit to cash

Honeywell International: net income to operating cash flow, Q3 2026Honeywell International: net income to operating cash flow, Q3 2026Net income$676MDepreciation & amortization$256MStock-based pay$74.0MDeferred taxes−$275MOther non-cash−$254MReceivables$172MInventory$184MPayables−$45.0MAccrued liabilities$497MDeferred revenue$201MContract assets−$22.0MPrepaid and other assets$243MIncome taxes payable$181MOperating cash flow$117M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026124131154100
Q2 202677969379
Q1 202661657650
Q4 202563283457
Q3 2025166206210161
Q2 20258311011182
Q1 20257810310675
Q4 20247614314970

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$117M$169M−$1.7B—−$240M−$1.6B$47.0M$3.1B$286M
Q2 2026$1.3B−$315M−$23.0M—−$795M−$2.7B$29.0M$3.2B$961M
Q1 2026−$650M−$223M−$5.0M−$1.0B−$781M−$13.9B$170M$510M−$873M
Q4 2025$1.2B−$611M−$10.0M−$100M−$762M−$2.3B$97.0M$443M$593M
Q3 2025$3.3B$41.0M−$38.0M−$100M−$735M$341M$42.0M−$2.6B$3.3B
Q2 2025$1.3B−$226M−$2.2B−$1.7B−$747M$3.2B$56.0M−$692M$1.1B
Q1 2025$597M−$190M−$5.0M−$1.9B−$732M$1.4B$42.0M$910M$407M
Q4 2024$2.3B−$100M−$1.8B−$455M−$741M$791M$188M$77.0M$2.2B

Honeywell International: income statement and cash flow

Honeywell International, Q3 2026: revenue $5.0B (+1% year over year), operating margin 21.3%. The chart follows the revenue to costs, profit and cash.

Honeywell International: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.