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Side-by-side financial comparison of Honeywell (HON) and PG&E Corporation (PCG). Click either name above to swap in a different company.
Honeywell is the larger business by last-quarter revenue ($9.1B vs $6.9B, roughly 1.3× PG&E Corporation). PG&E Corporation runs the higher net margin — 12.9% vs 8.7%, a 4.2% gap on every dollar of revenue. On growth, PG&E Corporation posted the faster year-over-year revenue change (15.0% vs 2.0%). Over the past eight quarters, PG&E Corporation's revenue compounded faster (7.2% 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.
Pacific Gas and Electric Company (PG&E) is an American investor-owned utility (IOU). The company is headquartered at Kaiser Center, in Oakland, California. PG&E provides natural gas and electricity to 5.2 million households in the northern two-thirds of California, from Bakersfield and northern Santa Barbara County, almost to the Oregon and Nevada state lines.
HON vs PCG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.1B | $6.9B |
| Net Profit | $795.0M | $885.0M |
| Gross Margin | — | — |
| Operating Margin | 16.1% | 21.4% |
| Net Margin | 8.7% | 12.9% |
| Revenue YoY | 2.0% | 15.0% |
| Net Profit YoY | -45.8% | 39.6% |
| EPS (diluted) | $1.29 | $0.39 |
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 | $6.9B | ||
| Q4 25 | $6.9B | $6.8B | ||
| Q3 25 | $10.4B | $6.3B | ||
| Q2 25 | $10.4B | $5.9B | ||
| Q1 25 | $9.8B | $6.0B | ||
| Q4 24 | $10.1B | $6.6B | ||
| Q3 24 | $9.7B | $5.9B | ||
| Q2 24 | $9.6B | $6.0B |
| Q1 26 | $795.0M | $885.0M | ||
| Q4 25 | $-115.0M | $670.0M | ||
| Q3 25 | $1.8B | $850.0M | ||
| Q2 25 | $1.6B | $549.0M | ||
| Q1 25 | $1.4B | $634.0M | ||
| Q4 24 | $1.3B | $674.0M | ||
| Q3 24 | $1.4B | $579.0M | ||
| Q2 24 | $1.5B | $524.0M |
| 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% | 21.4% | ||
| Q4 25 | 16.0% | 18.0% | ||
| Q3 25 | 23.1% | 19.3% | ||
| Q2 25 | 22.9% | 18.6% | ||
| Q1 25 | 23.0% | 20.4% | ||
| Q4 24 | 21.6% | 15.4% | ||
| Q3 24 | 23.6% | 17.3% | ||
| Q2 24 | 23.0% | 18.9% |
| Q1 26 | 8.7% | 12.9% | ||
| Q4 25 | -1.7% | 9.8% | ||
| Q3 25 | 17.5% | 13.6% | ||
| Q2 25 | 15.2% | 9.3% | ||
| Q1 25 | 14.8% | 10.6% | ||
| Q4 24 | 12.7% | 10.2% | ||
| Q3 24 | 14.5% | 9.7% | ||
| Q2 24 | 16.1% | 8.8% |
| Q1 26 | $1.29 | $0.39 | ||
| Q4 25 | $-0.17 | $0.29 | ||
| Q3 25 | $2.86 | $0.37 | ||
| Q2 25 | $2.45 | $0.24 | ||
| Q1 25 | $2.22 | $0.28 | ||
| Q4 24 | $1.96 | $0.30 | ||
| Q3 24 | $2.16 | $0.27 | ||
| Q2 24 | $2.36 | $0.24 |
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 | $12.9B | $713.0M | ||
| Q3 25 | $13.4B | $404.0M | ||
| Q2 25 | $10.7B | $494.0M | ||
| Q1 25 | $10.1B | $2.0B | ||
| Q4 24 | $11.0B | $940.0M | ||
| Q3 24 | $10.9B | $895.0M | ||
| Q2 24 | $9.8B | $1.3B |
| Q1 26 | $32.1B | — | ||
| Q4 25 | $27.1B | $57.4B | ||
| Q3 25 | $30.1B | — | ||
| Q2 25 | $30.2B | — | ||
| Q1 25 | $25.7B | — | ||
| Q4 24 | $25.5B | $53.6B | ||
| Q3 24 | $25.9B | — | ||
| Q2 24 | $20.9B | — |
| Q1 26 | — | — | ||
| Q4 25 | $13.9B | $32.5B | ||
| Q3 25 | $16.8B | $32.0B | ||
| Q2 25 | $16.1B | $31.2B | ||
| Q1 25 | $17.5B | $30.7B | ||
| Q4 24 | $18.6B | $30.1B | ||
| Q3 24 | $17.4B | $26.8B | ||
| Q2 24 | $16.9B | $26.3B |
| Q1 26 | $74.0B | — | ||
| Q4 25 | $73.7B | $141.6B | ||
| Q3 25 | $80.9B | $138.2B | ||
| Q2 25 | $78.4B | $136.4B | ||
| Q1 25 | $75.2B | $135.4B | ||
| Q4 24 | $75.2B | $133.7B | ||
| Q3 24 | $73.5B | $132.3B | ||
| Q2 24 | $69.3B | $130.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.95× | 1.76× | ||
| Q3 25 | 1.79× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 1.47× | — | ||
| Q4 24 | 1.37× | 1.78× | ||
| 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 | $56.0M | — |
| FCF MarginFCF / Revenue | 0.6% | — |
| Capex IntensityCapex / Revenue | 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 | $1.2B | $2.0B | ||
| Q3 25 | $3.3B | $2.9B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $597.0M | $2.8B | ||
| Q4 24 | $2.3B | $1.9B | ||
| Q3 24 | $2.0B | $3.1B | ||
| Q2 24 | $1.4B | $711.0M |
| Q1 26 | $56.0M | — | ||
| Q4 25 | $1.1B | $-1.2B | ||
| Q3 25 | $2.9B | $-80.0M | ||
| Q2 25 | $1.0B | $-2.0B | ||
| Q1 25 | $346.0M | $213.0M | ||
| Q4 24 | $1.9B | $-896.0M | ||
| Q3 24 | $1.7B | $526.0M | ||
| Q2 24 | $1.1B | $-1.6B |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 16.7% | -17.6% | ||
| Q3 25 | 28.0% | -1.3% | ||
| Q2 25 | 9.8% | -34.0% | ||
| Q1 25 | 3.5% | 3.6% | ||
| Q4 24 | 18.7% | -13.5% | ||
| Q3 24 | 17.7% | 8.9% | ||
| Q2 24 | 11.6% | -26.5% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 0.8% | 46.4% | ||
| Q3 25 | 3.6% | 46.9% | ||
| Q2 25 | 2.9% | 52.0% | ||
| Q1 25 | 2.6% | 44.0% | ||
| Q4 24 | 3.9% | 42.6% | ||
| Q3 24 | 2.9% | 43.8% | ||
| Q2 24 | 2.7% | 38.4% |
| Q1 26 | 0.00× | — | ||
| Q4 25 | — | 2.93× | ||
| Q3 25 | 1.80× | 3.35× | ||
| Q2 25 | 0.84× | 1.93× | ||
| Q1 25 | 0.41× | 4.49× | ||
| Q4 24 | 1.78× | 2.87× | ||
| Q3 24 | 1.41× | 5.41× | ||
| Q2 24 | 0.89× | 1.36× |
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% |
PCG
| Electric | $5.0B | 72% |
| Other | $1.9B | 28% |
