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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and Honeywell (HON). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $8.1B, roughly 1.1× Athene Holding Ltd.). Honeywell runs the higher net margin — 8.7% vs 6.4%, a 2.3% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs 2.0%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs -2.3%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
Honeywell International Inc. is an American publicly traded, multinational conglomerate corporation headquartered in Charlotte, North Carolina. It primarily operates in four areas of business: aerospace, building automation, industrial automation, and energy and sustainability solutions (ESS). Honeywell also owns and operates Sandia National Laboratories under contract with the U.S. Department of Energy. Honeywell is a Fortune 500 company, ranked 115th in 2023.
ATHS vs HON — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $9.1B |
| Net Profit | $523.0M | $795.0M |
| Gross Margin | — | — |
| Operating Margin | 16.9% | 16.1% |
| Net Margin | 6.4% | 8.7% |
| Revenue YoY | 115.1% | 2.0% |
| Net Profit YoY | -48.5% | -45.8% |
| EPS (diluted) | — | $1.29 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $9.1B | ||
| Q4 25 | $8.1B | $6.9B | ||
| Q3 25 | $8.0B | $10.4B | ||
| Q2 25 | $5.4B | $10.4B | ||
| Q1 25 | $4.2B | $9.8B | ||
| Q4 24 | $3.8B | $10.1B | ||
| Q3 24 | $6.5B | $9.7B | ||
| Q2 24 | $4.7B | $9.6B |
| Q1 26 | — | $795.0M | ||
| Q4 25 | $523.0M | $-115.0M | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $464.0M | $1.6B | ||
| Q1 25 | $465.0M | $1.4B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $625.0M | $1.4B | ||
| Q2 24 | $629.0M | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 36.1% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 35.4% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 35.1% | ||
| Q2 24 | — | 35.0% |
| Q1 26 | — | 16.1% | ||
| Q4 25 | 16.9% | 16.0% | ||
| Q3 25 | 26.8% | 23.1% | ||
| Q2 25 | 12.2% | 22.9% | ||
| Q1 25 | 22.3% | 23.0% | ||
| Q4 24 | 30.4% | 21.6% | ||
| Q3 24 | 25.7% | 23.6% | ||
| Q2 24 | 22.0% | 23.0% |
| Q1 26 | — | 8.7% | ||
| Q4 25 | 6.4% | -1.7% | ||
| Q3 25 | 15.7% | 17.5% | ||
| Q2 25 | 8.7% | 15.2% | ||
| Q1 25 | 11.1% | 14.8% | ||
| Q4 24 | 26.8% | 12.7% | ||
| Q3 24 | 9.6% | 14.5% | ||
| Q2 24 | 13.5% | 16.1% |
| Q1 26 | — | $1.29 | ||
| Q4 25 | — | $-0.17 | ||
| Q3 25 | — | $2.86 | ||
| Q2 25 | — | $2.45 | ||
| Q1 25 | — | $2.22 | ||
| Q4 24 | — | $1.96 | ||
| Q3 24 | — | $2.16 | ||
| Q2 24 | — | $2.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.4B |
| Total DebtLower is stronger | $7.8B | $32.1B |
| Stockholders' EquityBook value | $20.5B | — |
| Total Assets | $442.2B | $74.0B |
| Debt / EquityLower = less leverage | 0.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.4B | ||
| Q4 25 | — | $12.9B | ||
| Q3 25 | — | $13.4B | ||
| Q2 25 | — | $10.7B | ||
| Q1 25 | — | $10.1B | ||
| Q4 24 | — | $11.0B | ||
| Q3 24 | — | $10.9B | ||
| Q2 24 | — | $9.8B |
| Q1 26 | — | $32.1B | ||
| Q4 25 | $7.8B | $27.1B | ||
| Q3 25 | $7.9B | $30.1B | ||
| Q2 25 | $7.9B | $30.2B | ||
| Q1 25 | $6.3B | $25.7B | ||
| Q4 24 | $6.3B | $25.5B | ||
| Q3 24 | $5.7B | $25.9B | ||
| Q2 24 | $5.7B | $20.9B |
| Q1 26 | — | — | ||
| Q4 25 | $20.5B | $13.9B | ||
| Q3 25 | $20.4B | $16.8B | ||
| Q2 25 | $18.1B | $16.1B | ||
| Q1 25 | $17.5B | $17.5B | ||
| Q4 24 | $16.4B | $18.6B | ||
| Q3 24 | $17.4B | $17.4B | ||
| Q2 24 | $15.0B | $16.9B |
| Q1 26 | — | $74.0B | ||
| Q4 25 | $442.2B | $73.7B | ||
| Q3 25 | $429.9B | $80.9B | ||
| Q2 25 | $405.3B | $78.4B | ||
| Q1 25 | $381.5B | $75.2B | ||
| Q4 24 | $363.3B | $75.2B | ||
| Q3 24 | $355.0B | $73.5B | ||
| Q2 24 | $332.6B | $69.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.38× | 1.95× | ||
| Q3 25 | 0.38× | 1.79× | ||
| Q2 25 | 0.43× | 1.87× | ||
| Q1 25 | 0.36× | 1.47× | ||
| Q4 24 | 0.39× | 1.37× | ||
| Q3 24 | 0.33× | 1.49× | ||
| Q2 24 | 0.38× | 1.23× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $0 |
| Free Cash FlowOCF − Capex | — | $56.0M |
| FCF MarginFCF / Revenue | — | 0.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 5.82× | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $0 | ||
| Q4 25 | $3.0B | $1.2B | ||
| Q3 25 | $636.0M | $3.3B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $426.0M | $597.0M | ||
| Q4 24 | $386.0M | $2.3B | ||
| Q3 24 | $780.0M | $2.0B | ||
| Q2 24 | $525.0M | $1.4B |
| Q1 26 | — | $56.0M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $346.0M | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | — | 0.6% | ||
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | — | 17.7% | ||
| Q2 24 | — | 11.6% |
| Q1 26 | — | 2.4% | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 2.9% | ||
| Q2 24 | — | 2.7% |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 5.82× | — | ||
| Q3 25 | 0.51× | 1.80× | ||
| Q2 25 | 2.28× | 0.84× | ||
| Q1 25 | 0.92× | 0.41× | ||
| Q4 24 | 0.38× | 1.78× | ||
| Q3 24 | 1.25× | 1.41× | ||
| Q2 24 | 0.83× | 0.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATHS
Segment breakdown not available.
HON
| Aerospace Technologies | $4.3B | 47% |
| Building Automation | $1.9B | 21% |
| Process Automation and Technology | $1.5B | 17% |
| Industrial Automation | $1.4B | 16% |
| Corporate and All Other | $5.0M | 0% |
