HON vs VMI: Honeywell International and Valmont Industries compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Honeywell International is the larger company, worth $135.2B, about 15.7 times Valmont Industries.
- Valmont Industries grew revenue faster over the last year (+6.5% vs +4.3%).
- Honeywell International keeps more of each dollar of revenue as operating profit (20.7% vs 13.7%).
- On earnings, Honeywell International is the cheaper stock (8.5x vs 24.7x).
- Valmont Industries's price assumes faster free cash flow growth: about 9% a year, against 8% for Honeywell International (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HON | VMI |
|---|---|---|
| Market cap | $135.2B | $8.6B |
| Share price | $207.73 | $464.59 |
| Revenue (last fiscal year) | $37.4B | $4.1B |
| Free cash flow (last fiscal year) | $5.4B | $311M |
| Revenue growth, last year | +4.3% | +6.5% |
| Revenue growth per year, last 5 fiscal years | +2.1% | +4.0% |
| Operating margin | 20.7% | 13.7% |
| Net margin | 21.6% | 11.7% |
| Return on equity | 44.3% | 28.7% |
| P/E (trailing) | 8.49x | 24.7x |
| Price / free cash flow | 25.1x | 27.7x |
| EV / EBITDA | 12.1x | 14.3x |
| FCF growth the price implies | 7.9% | 9.3% |
| Dividend yield | 2.2% | 0.62% |
| Debt / equity | 3.16x | 1.00x |
| Fundamental grade | C | C |
| Superinvestors holding it | 8 | 0 |
| Insider purchases, last 12 months | 9 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Honeywell International
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $34.4B | $5.1B | — |
| 2022 | $35.5B | $4.5B | 22.6% |
| 2023 | $33.0B | $4.6B | 22.9% |
| 2024 | $34.7B | $5.2B | 22.1% |
| 2025 | $37.4B | $5.4B | 21.7% |
Valmont Industries
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.5B | -$42M | 8.2% |
| 2022 | $4.3B | $233M | 10.0% |
| 2023 | $4.2B | $210M | 7.0% |
| 2024 | $4.1B | $493M | 12.9% |
| 2025 | $4.1B | $311M | 10.1% |
Where the revenue comes from
Honeywell International · by segments, 2025
Aerospace Technologies$17.5B47%
Industrial Automation$9.4B25%
Building Automation$7.4B20%
Energy and Sustainability Solutions$3.1B8%
Valmont Industries · by segments, 2025
Infrastructure$3.1B75%
Agriculture$1.0B25%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HON in InvestinglyQuestions
Which is bigger, Honeywell International or Valmont Industries?
Honeywell International (HON), at $135.2B against $8.6B.
Is HON or VMI cheaper?
By trailing P/E, Honeywell International (8.49x) is cheaper than Valmont Industries (24.7x). A lower multiple can also mean the market expects less growth.
Which grows faster, HON or VMI?
Valmont Industries: revenue grew +6.5% over the last year, against +4.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.