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Side-by-side financial comparison of Honeywell (HON) and Lennar (LEN). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($9.4B vs $9.1B, roughly 1.0× Honeywell). Honeywell runs the higher net margin — 8.7% vs 5.2%, a 3.5% gap on every dollar of revenue. On growth, Honeywell posted the faster year-over-year revenue change (2.0% vs -5.8%). Lennar produced more free cash flow last quarter ($1.7B vs $56.0M). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs -2.3%).
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.
Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.
HON vs LEN — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.1B | $9.4B |
| Net Profit | $795.0M | $490.2M |
| Gross Margin | — | — |
| Operating Margin | 16.1% | 7.3% |
| Net Margin | 8.7% | 5.2% |
| Revenue YoY | 2.0% | -5.8% |
| Net Profit YoY | -45.8% | -55.3% |
| 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 | $9.1B | — | ||
| Q4 25 | $6.9B | $9.4B | ||
| Q3 25 | $10.4B | $8.8B | ||
| Q2 25 | $10.4B | $8.4B | ||
| Q1 25 | $9.8B | $7.6B | ||
| Q4 24 | $10.1B | $9.9B | ||
| Q3 24 | $9.7B | $9.4B | ||
| Q2 24 | $9.6B | $8.8B |
| Q1 26 | $795.0M | — | ||
| Q4 25 | $-115.0M | $490.2M | ||
| Q3 25 | $1.8B | $591.0M | ||
| Q2 25 | $1.6B | $477.4M | ||
| Q1 25 | $1.4B | $519.5M | ||
| Q4 24 | $1.3B | $1.1B | ||
| Q3 24 | $1.4B | $1.2B | ||
| Q2 24 | $1.5B | $954.3M |
| 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 | 16.0% | 7.3% | ||
| Q3 25 | 23.1% | 9.0% | ||
| Q2 25 | 22.9% | 7.7% | ||
| Q1 25 | 23.0% | 9.1% | ||
| Q4 24 | 21.6% | 14.7% | ||
| Q3 24 | 23.6% | 16.3% | ||
| Q2 24 | 23.0% | 14.4% |
| Q1 26 | 8.7% | — | ||
| Q4 25 | -1.7% | 5.2% | ||
| Q3 25 | 17.5% | 6.7% | ||
| Q2 25 | 15.2% | 5.7% | ||
| Q1 25 | 14.8% | 6.8% | ||
| Q4 24 | 12.7% | 11.0% | ||
| Q3 24 | 14.5% | 12.3% | ||
| Q2 24 | 16.1% | 10.9% |
| Q1 26 | $1.29 | — | ||
| Q4 25 | $-0.17 | — | ||
| Q3 25 | $2.86 | $2.29 | ||
| Q2 25 | $2.45 | $1.81 | ||
| Q1 25 | $2.22 | $1.96 | ||
| Q4 24 | $1.96 | $4.03 | ||
| Q3 24 | $2.16 | $4.26 | ||
| Q2 24 | $2.36 | $3.45 |
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 | $3.8B |
| Total DebtLower is stronger | $32.1B | $5.9B |
| Stockholders' EquityBook value | — | $22.0B |
| Total Assets | $74.0B | $34.4B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $12.4B | — | ||
| Q4 25 | $12.9B | $3.8B | ||
| Q3 25 | $13.4B | — | ||
| Q2 25 | $10.7B | — | ||
| Q1 25 | $10.1B | — | ||
| Q4 24 | $11.0B | $4.9B | ||
| Q3 24 | $10.9B | — | ||
| Q2 24 | $9.8B | — |
| Q1 26 | $32.1B | — | ||
| Q4 25 | $27.1B | $5.9B | ||
| Q3 25 | $30.1B | — | ||
| Q2 25 | $30.2B | — | ||
| Q1 25 | $25.7B | — | ||
| Q4 24 | $25.5B | $4.2B | ||
| Q3 24 | $25.9B | — | ||
| Q2 24 | $20.9B | — |
| Q1 26 | — | — | ||
| Q4 25 | $13.9B | $22.0B | ||
| Q3 25 | $16.8B | $22.6B | ||
| Q2 25 | $16.1B | $22.6B | ||
| Q1 25 | $17.5B | $22.7B | ||
| Q4 24 | $18.6B | $27.9B | ||
| Q3 24 | $17.4B | $27.4B | ||
| Q2 24 | $16.9B | $26.9B |
| Q1 26 | $74.0B | — | ||
| Q4 25 | $73.7B | $34.4B | ||
| Q3 25 | $80.9B | $34.9B | ||
| Q2 25 | $78.4B | $34.4B | ||
| Q1 25 | $75.2B | $35.0B | ||
| Q4 24 | $75.2B | $41.3B | ||
| Q3 24 | $73.5B | $39.7B | ||
| Q2 24 | $69.3B | $38.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 0.27× | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 1.47× | — | ||
| Q4 24 | 1.37× | 0.15× | ||
| 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 | $1.8B |
| Free Cash FlowOCF − Capex | $56.0M | $1.7B |
| FCF MarginFCF / Revenue | 0.6% | 17.9% |
| Capex IntensityCapex / Revenue | 2.4% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.00× | 3.59× |
| TTM Free Cash FlowTrailing 4 quarters | $5.1B | $28.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $0 | — | ||
| Q4 25 | $1.2B | $1.8B | ||
| Q3 25 | $3.3B | $-158.6M | ||
| Q2 25 | $1.3B | $-1.1B | ||
| Q1 25 | $597.0M | $-289.0M | ||
| Q4 24 | $2.3B | $974.5M | ||
| Q3 24 | $2.0B | $819.2M | ||
| Q2 24 | $1.4B | $241.8M |
| Q1 26 | $56.0M | — | ||
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $2.9B | $-190.8M | ||
| Q2 25 | $1.0B | $-1.1B | ||
| Q1 25 | $346.0M | $-345.1M | ||
| Q4 24 | $1.9B | $933.1M | ||
| Q3 24 | $1.7B | $800.8M | ||
| Q2 24 | $1.1B | $203.0M |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 16.7% | 17.9% | ||
| Q3 25 | 28.0% | -2.2% | ||
| Q2 25 | 9.8% | -13.3% | ||
| Q1 25 | 3.5% | -4.5% | ||
| Q4 24 | 18.7% | 9.4% | ||
| Q3 24 | 17.7% | 8.5% | ||
| Q2 24 | 11.6% | 2.3% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 0.8% | 0.9% | ||
| Q3 25 | 3.6% | 0.4% | ||
| Q2 25 | 2.9% | 0.2% | ||
| Q1 25 | 2.6% | 0.7% | ||
| Q4 24 | 3.9% | 0.4% | ||
| Q3 24 | 2.9% | 0.2% | ||
| Q2 24 | 2.7% | 0.4% |
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 3.59× | ||
| Q3 25 | 1.80× | -0.27× | ||
| Q2 25 | 0.84× | -2.29× | ||
| Q1 25 | 0.41× | -0.56× | ||
| Q4 24 | 1.78× | 0.89× | ||
| Q3 24 | 1.41× | 0.70× | ||
| Q2 24 | 0.89× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
LEN
| Lennar Homebuilding East Central West Houstonand Other | $8.9B | 95% |
| Lennar Financial Services | $308.8M | 3% |
| Lennar Multifamily | $158.7M | 2% |
| Lennar Other | $14.8M | 0% |
| Homebuilding Other Regions | $3.9M | 0% |
