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Honeywell InternationalTSX:HON +5.54%54 ROC (Joel Greenblatt) % is 385.90% as of Jun. 2026, which is 245% above its 10-year median of 112.01. GuruFocus rates TSX:HON with a GF Score™ of 54/100 and a GF Value™ of C$10.41 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 562 Conglomerates companies, Honeywell International ranks better than 89.5% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Honeywell International's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 385.90%.
The historical rank and industry rank for Honeywell International's ROC (Joel Greenblatt) % or its related term are showing as below:
TSX:HON'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 69.07 Med: 112.01 Max: 136.15
Current: 69.07
During the past 13 years, Honeywell International's highest ROC (Joel Greenblatt) % was 136.15%. The lowest was 69.07%. And the median was 112.01%.
TSX:HON's ROC (Joel Greenblatt) % is ranked better than 89.5% of 562
companies
in the Conglomerates industry
Industry Median: 14.68
vs TSX:HON: 69.07
Honeywell International's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was -2.60% per year.
Honeywell International (TSX:HON) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Honeywell International ROC (Joel Greenblatt) % Related Terms
Honeywell International ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Honeywell International's ROC (Joel Greenblatt) % 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 International ROC (Joel Greenblatt) % Chart
TSX:HON vs MMM, VMI, SEB: ROC (Joel Greenblatt) % Comparison
For the Conglomerates subindustry, Honeywell International's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 International ROC (Joel Greenblatt) % vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Honeywell International's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Honeywell International's ROC (Joel Greenblatt) % falls into.
Honeywell International ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 385.90% mean?
Honeywell International (TSX:HON) has a ROC (Joel Greenblatt) % of 385.90% as of Jun. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Honeywell International and its competitors. This is 245% above median its historical median of 112.01. Over the past decade, Honeywell International's ROC (Joel Greenblatt) % has ranged from 69.07 to 136.15. According to the industry distribution chart, Honeywell International ranks #59 out of 562 companies in the Conglomerates industry, placing it in the top 10.5%.
Is Honeywell International's ROC (Joel Greenblatt) % too high?
Honeywell International's current ROC (Joel Greenblatt) % of 385.90% is 245% above median its 10-year median of 112.01. Over the past 10 years, this metric has ranged from a low of 69.07 to a high of 136.15. The Conglomerates industry median ROC (Joel Greenblatt) % is 14.68. Honeywell International's value of 385.90% is 2528.7% above this industry median. Based on the distribution chart, Honeywell International ranks #59 out of 562 companies in the Conglomerates industry, which is in the top quartile — a strong position relative to peers. Overall, Honeywell International has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Honeywell International's ROC (Joel Greenblatt) % compare to MMM and VMI?
According to the Conglomerates industry distribution chart, Honeywell International ranks #59 out of 562 companies for ROC (Joel Greenblatt) %. This places Honeywell International in the top 11% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 14.68. Honeywell International's value of 385.90% is 2528.7% above this benchmark. Historically, Honeywell International's own ROC (Joel Greenblatt) % has ranged from 69.07 to 136.15 over the past decade. While the company's 10-year median is 112.01 vs. the industry median of 14.68, Honeywell International has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Conglomerates company?
The median ROC (Joel Greenblatt) % among Conglomerates companies is 14.68, based on 562 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Honeywell International's current ROC (Joel Greenblatt) % of 385.90% is 2528.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Honeywell International and its competitors. For the Conglomerates industry, the median ROC (Joel Greenblatt) % is 14.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Honeywell International's current ROC (Joel Greenblatt) % is 385.90%, which is 245% above median its own 10-year median of 112.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Honeywell International stock overvalued right now?
Based on GuruFocus' analysis, Honeywell International (TSX:HON) is currently considered Significantly Overvalued. The stock's GF Value™ is C$10.41, compared to a current price of C$13.70 — trading 31.6% above its estimated fair value. The current ROC (Joel Greenblatt) % is 385.90%, which is 245% above median its 10-year median of 112.01 and 2528.7% above the Conglomerates industry median of 14.68. Honeywell International's overall GF Score™ is 54/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Honeywell International (TSX:HON), the current ROC (Joel Greenblatt) % is 385.90% as of Jun. 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.
Is Honeywell International (TSX:HON) Overvalued in 2026?
Based on GuruFocus' analysis, Honeywell International stock appears to be overvalued.
The current stock price of C$13.70 is trading 31.6% above its estimated GF Value™ of C$10.41.
GuruFocus considers Honeywell International to be Significantly Overvalued.
Key valuation signals for TSX:HON:
ROC (Joel Greenblatt) %: 385.90% (245% above median its 10-year median of 112.01)
GF Value™: C$10.41 vs. price of C$13.70 (31.6% above fair value)
Industry Position: 2528.7% above the Conglomerates median (#59 of 562)
No single metric tells the full story. See the TSX:HON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Honeywell traces its roots to 1885 with Albert Butz's firm, Butz Thermo-Electric Regulator, which produced a predecessor to the modern thermostat. Other inventions by Honeywell include biodegradable detergent and autopilot. Today, Honeywell is a global multi-industry behemoth with one of the largest installed bases of equipment. It operates through four business segments: aerospace technologies, industrial automation, energy and sustainability solutions, and building automation. Recently, Honeywell has made several portfolio changes to focus on fewer end markets and align with a set of secular growth trends. The firm is working diligently to expand its installed base, deriving around one third of its revenue from recurring aftermarket services.
54GF Score
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