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Side-by-side financial comparison of ENTERPRISE PRODUCTS PARTNERS L.P. (EPD) and Honeywell (HON). Click either name above to swap in a different company.
ENTERPRISE PRODUCTS PARTNERS L.P. is the larger business by last-quarter revenue ($14.4B vs $9.1B, roughly 1.6× Honeywell). ENTERPRISE PRODUCTS PARTNERS L.P. runs the higher net margin — 10.4% vs 8.7%, a 1.7% gap on every dollar of revenue. On growth, Honeywell posted the faster year-over-year revenue change (2.0% vs -6.7%). ENTERPRISE PRODUCTS PARTNERS L.P. produced more free cash flow last quarter ($1.9B vs $56.0M). Over the past eight quarters, ENTERPRISE PRODUCTS PARTNERS L.P.'s revenue compounded faster (3.3% CAGR vs -2.3%).
Enterprise Products Partners L.P. is an American midstream natural gas and crude oil pipeline company with headquarters in Houston, Texas. It acquired GulfTerra in September 2004. The company ranked No. 105 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. Dan Duncan was the majority owner until his death in 2010.
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.
EPD vs HON — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $14.4B | $9.1B |
| Net Profit | $1.5B | $795.0M |
| Gross Margin | — | — |
| Operating Margin | 13.2% | 16.1% |
| Net Margin | 10.4% | 8.7% |
| Revenue YoY | -6.7% | 2.0% |
| Net Profit YoY | 6.4% | -43.3% |
| 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 | $14.4B | $9.1B | ||
| Q4 25 | $13.8B | $6.9B | ||
| Q3 25 | $12.0B | $10.4B | ||
| Q2 25 | $11.4B | $10.4B | ||
| Q1 25 | $15.4B | $9.8B | ||
| Q4 24 | $14.2B | $10.1B | ||
| Q3 24 | $13.8B | $9.7B | ||
| Q2 24 | $13.5B | $9.6B |
| Q1 26 | $1.5B | $795.0M | ||
| Q4 25 | $1.6B | $-115.0M | ||
| Q3 25 | $1.3B | $1.8B | ||
| Q2 25 | $1.4B | $1.6B | ||
| Q1 25 | $1.4B | $1.4B | ||
| Q4 24 | $1.6B | $1.3B | ||
| Q3 24 | $1.4B | $1.4B | ||
| Q2 24 | $1.4B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 27.0% | 36.1% | ||
| Q3 25 | 28.6% | 31.1% | ||
| Q2 25 | 30.5% | 35.4% | ||
| Q1 25 | 22.1% | 35.2% | ||
| Q4 24 | 25.3% | 36.4% | ||
| Q3 24 | 24.6% | 35.1% | ||
| Q2 24 | 24.5% | 35.0% |
| Q1 26 | 13.2% | 16.1% | ||
| Q4 25 | 14.7% | 16.0% | ||
| Q3 25 | 14.0% | 23.1% | ||
| Q2 25 | 15.8% | 22.9% | ||
| Q1 25 | 11.4% | 23.0% | ||
| Q4 24 | 13.9% | 21.6% | ||
| Q3 24 | 12.9% | 23.6% | ||
| Q2 24 | 13.1% | 23.0% |
| Q1 26 | 10.4% | 8.7% | ||
| Q4 25 | 11.9% | -1.7% | ||
| Q3 25 | 11.1% | 17.5% | ||
| Q2 25 | 12.6% | 15.2% | ||
| Q1 25 | 9.0% | 14.8% | ||
| Q4 24 | 11.4% | 12.7% | ||
| Q3 24 | 10.3% | 14.5% | ||
| Q2 24 | 10.4% | 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 | — | $32.1B |
| Stockholders' EquityBook value | — | — |
| Total Assets | — | $74.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.4B | ||
| Q4 25 | $969.0M | $12.9B | ||
| Q3 25 | $206.0M | $13.4B | ||
| Q2 25 | $870.0M | $10.7B | ||
| Q1 25 | $220.0M | $10.1B | ||
| Q4 24 | $583.0M | $11.0B | ||
| Q3 24 | $1.4B | $10.9B | ||
| Q2 24 | $138.0M | $9.8B |
| Q1 26 | — | $32.1B | ||
| Q4 25 | — | $27.1B | ||
| Q3 25 | — | $30.1B | ||
| Q2 25 | — | $30.2B | ||
| Q1 25 | — | $25.7B | ||
| Q4 24 | — | $25.5B | ||
| Q3 24 | — | $25.9B | ||
| Q2 24 | — | $20.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | $13.9B | ||
| Q3 25 | — | $16.8B | ||
| Q2 25 | — | $16.1B | ||
| Q1 25 | — | $17.5B | ||
| Q4 24 | — | $18.6B | ||
| Q3 24 | — | $17.4B | ||
| Q2 24 | — | $16.9B |
| Q1 26 | — | $74.0B | ||
| Q4 25 | $77.9B | $73.7B | ||
| Q3 25 | $77.8B | $80.9B | ||
| Q2 25 | $77.4B | $78.4B | ||
| Q1 25 | $75.4B | $75.2B | ||
| Q4 24 | $77.2B | $75.2B | ||
| Q3 24 | $75.1B | $73.5B | ||
| Q2 24 | $73.6B | $69.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.95× | ||
| Q3 25 | — | 1.79× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | 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 | — | $0 |
| Free Cash FlowOCF − Capex | $1.9B | $56.0M |
| FCF MarginFCF / Revenue | 13.4% | 0.6% |
| Capex IntensityCapex / Revenue | 1.4% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.00× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.1B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $0 | ||
| Q4 25 | $2.5B | $1.2B | ||
| Q3 25 | $1.7B | $3.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.3B | $597.0M | ||
| Q4 24 | $2.4B | $2.3B | ||
| Q3 24 | $2.1B | $2.0B | ||
| Q2 24 | $1.6B | $1.4B |
| Q1 26 | $1.9B | $56.0M | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | $762.0M | $1.0B | ||
| Q1 25 | $1.3B | $346.0M | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $898.0M | $1.7B | ||
| Q2 24 | $310.0M | $1.1B |
| Q1 26 | 13.4% | 0.6% | ||
| Q4 25 | — | 16.7% | ||
| Q3 25 | — | 28.0% | ||
| Q2 25 | 6.7% | 9.8% | ||
| Q1 25 | 8.1% | 3.5% | ||
| Q4 24 | 9.1% | 18.7% | ||
| Q3 24 | 6.5% | 17.7% | ||
| Q2 24 | 2.3% | 11.6% |
| Q1 26 | 1.4% | 2.4% | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | 11.4% | 2.9% | ||
| Q1 25 | 6.9% | 2.6% | ||
| Q4 24 | 7.5% | 3.9% | ||
| Q3 24 | 8.5% | 2.9% | ||
| Q2 24 | 9.4% | 2.7% |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.30× | 1.80× | ||
| Q2 25 | 1.44× | 0.84× | ||
| Q1 25 | 1.66× | 0.41× | ||
| Q4 24 | 1.46× | 1.78× | ||
| Q3 24 | 1.46× | 1.41× | ||
| Q2 24 | 1.12× | 0.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EPD
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% |
