HONA (Honeywell Aerospace) Beneish M-Score: -2.99 (As of Aug. 17, 2026)

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HONA Honeywell Aerospace Inc HONA
21 GF Score
Price $166.36
! 1 Warning Sign
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What is Honeywell Aerospace Beneish M-Score?

Honeywell Aerospace HONA -2.03% 21 Beneish M-Score is -2.99 as of Aug. 17, 2026. GuruFocus rates HONA with a GF Score™ of 21/100. The stock has 1 warning sign investors should review. Among 326 Aerospace & Defense companies, Honeywell Aerospace ranks better than 84.66% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Honeywell Aerospace's Beneish M-Score or its related term are showing as below:

HONA' s Beneish M-Score Range Over the Past 10 Years
Min: -2.99   Med: -2.99   Max: -2.99
Current: -2.99

During the past 3 years, the highest Beneish M-Score of Honeywell Aerospace was -2.99. The lowest was -2.99. And the median was -2.99.

Honeywell Aerospace Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Honeywell Aerospace's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Honeywell Aerospace Beneish M-Score Chart

Honeywell Aerospace Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.99

Honeywell Aerospace Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -2.99

HONA vs TDG, LHX, NOC: Beneish M-Score Comparison

For the Aerospace & Defense subindustry, Honeywell Aerospace's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Honeywell Aerospace Beneish M-Score vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Honeywell Aerospace's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Honeywell Aerospace's Beneish M-Score falls into.


HONA
21GF Score
Honeywell Aerospace Inc HONA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Honeywell Aerospace Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Honeywell Aerospace for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.968+0.528 * 1.0226+0.404 * 0.955+0.892 * 1.1268+0.115 * 0.8941
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3249+4.679 * -0.105344-0.327 * 1.0776
=-2.99

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $3,522 Mil.
Revenue was $17,404 Mil.
Gross Profit was $6,063 Mil.
Total Current Assets was $8,390 Mil.
Total Assets was $17,685 Mil.
Property, Plant and Equipment(Net PPE) was $2,355 Mil.
Depreciation, Depletion and Amortization(DDA) was $412 Mil.
Selling, General, & Admin. Expense(SGA) was $2,129 Mil.
Total Current Liabilities was $6,577 Mil.
Long-Term Debt & Capital Lease Obligation was $236 Mil.
Net Income was $1,780 Mil.
Gross Profit was $-62 Mil.
Cash Flow from Operations was $3,705 Mil.
 Total Receivables was $3,229 Mil.
Revenue was $15,445 Mil.
Gross Profit was $5,502 Mil.
Total Current Assets was $7,670 Mil.
Total Assets was $16,845 Mil.
Property, Plant and Equipment(Net PPE) was $2,253 Mil.
Depreciation, Depletion and Amortization(DDA) was $346 Mil.
Selling, General, & Admin. Expense(SGA) was $1,426 Mil.
Total Current Liabilities was $5,819 Mil.
Long-Term Debt & Capital Lease Obligation was $203 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(3522 / 17404) / (3229 / 15445)
=0.202367 / 0.209064
=0.968

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(5502 / 15445) / (6063 / 17404)
=0.356232 / 0.348368
=1.0226

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (8390 + 2355) / 17685) / (1 - (7670 + 2253) / 16845)
=0.392423 / 0.410923
=0.955

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=17404 / 15445
=1.1268

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(346 / (346 + 2253)) / (412 / (412 + 2355))
=0.133128 / 0.148898
=0.8941

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(2129 / 17404) / (1426 / 15445)
=0.122328 / 0.092328
=1.3249

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((236 + 6577) / 17685) / ((203 + 5819) / 16845)
=0.385242 / 0.357495
=1.0776

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(1780 - -62 - 3705) / 17685
=-0.105344

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Honeywell Aerospace has a M-score of -2.99 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.99 mean?
Honeywell Aerospace (HONA) has a Beneish M-Score of -2.99 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Honeywell Aerospace and its competitors. According to the industry distribution chart, Honeywell Aerospace ranks #50 out of 326 companies in the Aerospace & Defense industry, placing it in the top 15.3%.
Is Honeywell Aerospace's Beneish M-Score too high?
Honeywell Aerospace's current Beneish M-Score is -2.99. Based on the distribution chart, Honeywell Aerospace ranks #50 out of 326 companies in the Aerospace & Defense industry, which is in the top quartile — a strong position relative to peers. Overall, Honeywell Aerospace has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Honeywell Aerospace's Beneish M-Score compare to TDG and LHX?
According to the Aerospace & Defense industry distribution chart, Honeywell Aerospace ranks #50 out of 326 companies for Beneish M-Score. This places Honeywell Aerospace in the top 15% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Aerospace & Defense company?
A good Beneish M-Score depends on the Aerospace & Defense industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Honeywell Aerospace and its competitors. Honeywell Aerospace's current Beneish M-Score is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Honeywell Aerospace stock overvalued right now?
Honeywell Aerospace (HONA) has a current Beneish M-Score of -2.99. The current Beneish M-Score is -2.99. Honeywell Aerospace's overall GF Score™ is 21/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Honeywell Aerospace (HONA), the current Beneish M-Score is -2.99 as of Aug. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Honeywell Aerospace Business Description

Other Exchanges HONA:Mexico
Address 1944 E Sky Harbor Cir N, Phoenix, AZ, USA, 85034
Honeywell Aerospace Inc operates as an aerospace and defense supplier of systems and technologies that enable the production, maintenance, and safe operation of aerospace and defense platforms. Its products support original equipment manufacturer (OEM), government, defense prime contractor, and aircraft operator customers across the Commercial Air Transport, Business Aviation, and Defense and Space end markets. The company has three operating segments: Electronic Solutions (ES), Engines & Power Systems (E&PS), and Control Systems (CS ). The majority of revenue is derived from the Electronic Solutions segment, which offers Avionics, Navigation and Sensors, Electromagnetic Defensive Solutions, and Space systems. Geographically, the maximum revenue is generated from the United States.
21GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$166.36
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