Honeywell Aerospace Inc
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+ FollowMarket Cap$49.58B
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Earnings Call Q3 2026
October 28, 2026 - AI Summary
Quarter performance (what happened)
- Sales: $4.6B, up 2.4% organically YoY (slightly above prior expectations due to improved mechanical output and some deals closing earlier).
- Orders / demand: Book-to-bill = 1.1 (up orders +12% YoY), with trailing-12-month orders +9%; backlog up +12% YoY to >$19B.
- Profitability / cash: Adj. EBIT $1.2B (+4% vs pro forma prior year); EPS $2.21; free cash flow $0.5B.
- Good but with mix headwinds: Supply shortages caused unfavorable mix (more allocation to commercial OE + domestic defense vs aftermarket + international defense).
Supply chain transformation is the central lever (challenges + visibility)
- Only ~70 “critical/constrained” suppliers (out of 3,000+) are not consistently meeting needs; they’re concentrated in 4 mechanical component categories: complex machining, castings, forgings, bearings.
- Management says KPIs are improving sequentially (Q2→Q3) and gap-to-need is narrowing, but ratings/color codes haven’t fully caught up yet.
- 2027 ramp expectation: Supplier output is expected to continue building quarter-over-quarter from Q4 2026 through 2027, supporting stronger conversion of demand into sales.
Bearings and defense constraints remain key risks (negative/pressure points)
- Bearings are highlighted as the most difficult constrained category, but there is progress:
- A second-source supplier ramped output and management expects it to be current to past due by early 2027.
- A third supplier is expected to come online with capacity investments in Q2 2027.
- Defense allocation: Domestic defense is being prioritized, deferring international defense—Defense & Space sales +1% YoY, while international defense declined in the quarter. International demand remains strong, but delivery capacity is the limiter.
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$296.08
89.3% upside
Current Fair Value
89.3% upsideUndervalued by 89.3% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $49.58 Billion |
|---|---|
| Enterprise Value | $64.37 Billion |
| Earnings per Share | $5.62 |
| Beta | 0.08 |
| Outstanding Shares | 317,003,000 |
Return
| Return on Equity | NaN% |
|---|---|
| Return on Assets | NaN% |
| Return on Invested Capital | NaN% |
Valuation & Multiples
| P/E Ratio | 25.73 |
|---|---|
| PEG | - |
| Price to Sales | - |
| Price to Book Ratio | -8.69 |
| Enterprise Value to Revenue | - |
| Enterprise Value to EBIT | - |
| Enterprise Value to Net Income | - |
| Total Debt to Enterprise | 0.25 |
| Debt to Equity | -2.78 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 28, 2026
EPS Estimate
$1.87
Consensus analyst estimateRevenue Estimate
$4.57 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 27, 2027
EPS Estimate
$2.13
Consensus analyst estimateRevenue Estimate
$4.97 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.05, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0545▼ 14.23% |
|---|---|
| Total Calls | 1,836▼ 99.87% |
| Total Puts | 100▼ 99.96% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 4.07%▼ 74.41% |
|---|---|
| Total Invested | $1.99B▼ 96.37% |
| Investors Holding | 881▼ 1216.00% |
About Honeywell Aerospace Inc
36,000 employees
CEO: James Currier
Honeywell Aerospace, Inc. engages in the provision of aerospace and defense critical systems and technologies. It operates through the following segments: Electronic Solutions, Engines & Power Systems, and Control Systems. The Electronic...