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Side-by-side financial comparison of Honeywell (HON) and Mastercard (MA). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $8.4B, roughly 1.1× Mastercard). Mastercard runs the higher net margin — 46.4% vs 8.7%, a 37.7% gap on every dollar of revenue. On growth, Mastercard posted the faster year-over-year revenue change (16.0% vs 2.0%). Over the past eight quarters, Mastercard's revenue compounded faster (9.9% 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.
Mastercard Inc. is an American multinational payment card services corporation headquartered in Purchase, New York. It offers a range of payment transaction processing and other related-payment services. Throughout the world, its principal business is to process payments between the banks of merchants and the card-issuing banks or credit unions of the purchasers who use the Mastercard-brand debit, credit and prepaid cards to make purchases. Mastercard has been publicly traded since 2006.
HON vs MA — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.1B | $8.4B |
| Net Profit | $795.0M | $3.9B |
| Gross Margin | — | — |
| Operating Margin | 16.1% | 58.3% |
| Net Margin | 8.7% | 46.4% |
| Revenue YoY | 2.0% | 16.0% |
| Net Profit YoY | -43.3% | 18.0% |
| EPS (diluted) | $1.29 | $4.35 |
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 | $8.4B | ||
| Q4 25 | $6.9B | $8.8B | ||
| Q3 25 | $10.4B | $8.6B | ||
| Q2 25 | $10.4B | $8.1B | ||
| Q1 25 | $9.8B | $7.3B | ||
| Q4 24 | $10.1B | $7.5B | ||
| Q3 24 | $9.7B | $7.4B | ||
| Q2 24 | $9.6B | $7.0B |
| Q1 26 | $795.0M | $3.9B | ||
| Q4 25 | $-115.0M | $4.1B | ||
| Q3 25 | $1.8B | $3.9B | ||
| Q2 25 | $1.6B | $3.7B | ||
| Q1 25 | $1.4B | $3.3B | ||
| Q4 24 | $1.3B | $3.3B | ||
| Q3 24 | $1.4B | $3.3B | ||
| Q2 24 | $1.5B | $3.3B |
| 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% | 58.3% | ||
| Q4 25 | 16.0% | 55.8% | ||
| Q3 25 | 23.1% | 58.8% | ||
| Q2 25 | 22.9% | 58.7% | ||
| Q1 25 | 23.0% | 57.2% | ||
| Q4 24 | 21.6% | 52.6% | ||
| Q3 24 | 23.6% | 54.3% | ||
| Q2 24 | 23.0% | 58.0% |
| Q1 26 | 8.7% | 46.4% | ||
| Q4 25 | -1.7% | 46.1% | ||
| Q3 25 | 17.5% | 45.7% | ||
| Q2 25 | 15.2% | 45.5% | ||
| Q1 25 | 14.8% | 45.2% | ||
| Q4 24 | 12.7% | 44.6% | ||
| Q3 24 | 14.5% | 44.3% | ||
| Q2 24 | 16.1% | 46.8% |
| Q1 26 | $1.29 | $4.35 | ||
| Q4 25 | $-0.17 | $4.52 | ||
| Q3 25 | $2.86 | $4.34 | ||
| Q2 25 | $2.45 | $4.07 | ||
| Q1 25 | $2.22 | $3.59 | ||
| Q4 24 | $1.96 | $3.64 | ||
| Q3 24 | $2.16 | $3.53 | ||
| Q2 24 | $2.36 | $3.50 |
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 | $7.9B |
| Total DebtLower is stronger | $32.1B | $19.0B |
| Stockholders' EquityBook value | — | $6.7B |
| Total Assets | $74.0B | $52.4B |
| Debt / EquityLower = less leverage | — | 2.82× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $12.4B | $7.9B | ||
| Q4 25 | $12.9B | $10.6B | ||
| Q3 25 | $13.4B | $10.3B | ||
| Q2 25 | $10.7B | $9.0B | ||
| Q1 25 | $10.1B | $7.6B | ||
| Q4 24 | $11.0B | $8.4B | ||
| Q3 24 | $10.9B | $11.1B | ||
| Q2 24 | $9.8B | $7.0B |
| Q1 26 | $32.1B | $19.0B | ||
| 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 | — | $6.7B | ||
| Q4 25 | $13.9B | $7.7B | ||
| Q3 25 | $16.8B | $7.9B | ||
| Q2 25 | $16.1B | $7.9B | ||
| Q1 25 | $17.5B | $6.7B | ||
| Q4 24 | $18.6B | $6.5B | ||
| Q3 24 | $17.4B | $7.4B | ||
| Q2 24 | $16.9B | $7.4B |
| Q1 26 | $74.0B | $52.4B | ||
| Q4 25 | $73.7B | $54.2B | ||
| Q3 25 | $80.9B | $53.3B | ||
| Q2 25 | $78.4B | $51.4B | ||
| Q1 25 | $75.2B | $48.5B | ||
| Q4 24 | $75.2B | $48.1B | ||
| Q3 24 | $73.5B | $47.2B | ||
| Q2 24 | $69.3B | $42.3B |
| Q1 26 | — | 2.82× | ||
| 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 | $3.0B |
| Free Cash FlowOCF − Capex | $56.0M | — |
| FCF MarginFCF / Revenue | 0.6% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | 0.00× | 0.77× |
| TTM Free Cash FlowTrailing 4 quarters | $5.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $0 | $3.0B | ||
| Q4 25 | $1.2B | $5.0B | ||
| Q3 25 | $3.3B | $5.7B | ||
| Q2 25 | $1.3B | $4.6B | ||
| Q1 25 | $597.0M | $2.4B | ||
| Q4 24 | $2.3B | $4.8B | ||
| Q3 24 | $2.0B | $5.1B | ||
| Q2 24 | $1.4B | $3.1B |
| Q1 26 | $56.0M | — | ||
| Q4 25 | $1.1B | $4.9B | ||
| Q3 25 | $2.9B | $5.5B | ||
| Q2 25 | $1.0B | $4.6B | ||
| Q1 25 | $346.0M | $2.2B | ||
| Q4 24 | $1.9B | $4.7B | ||
| Q3 24 | $1.7B | $5.0B | ||
| Q2 24 | $1.1B | $3.0B |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 16.7% | 55.5% | ||
| Q3 25 | 28.0% | 63.8% | ||
| Q2 25 | 9.8% | 56.1% | ||
| Q1 25 | 3.5% | 30.6% | ||
| Q4 24 | 18.7% | 63.3% | ||
| Q3 24 | 17.7% | 68.2% | ||
| Q2 24 | 11.6% | 43.4% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 0.8% | 1.3% | ||
| Q3 25 | 3.6% | 2.1% | ||
| Q2 25 | 2.9% | 0.5% | ||
| Q1 25 | 2.6% | 2.2% | ||
| Q4 24 | 3.9% | 1.3% | ||
| Q3 24 | 2.9% | 1.5% | ||
| Q2 24 | 2.7% | 1.7% |
| Q1 26 | 0.00× | 0.77× | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | 1.80× | 1.44× | ||
| Q2 25 | 0.84× | 1.24× | ||
| Q1 25 | 0.41× | 0.73× | ||
| Q4 24 | 1.78× | 1.45× | ||
| Q3 24 | 1.41× | 1.57× | ||
| Q2 24 | 0.89× | 0.96× |
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% |
MA
Segment breakdown not available.
