GE Vernova vs Honeywell Technologies
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KIRA’s take AI analyst
I put GE Vernova and Honeywell Technologies side by side, using each one’s latest annual report. Here is what stands out:
- GE Vernova is the larger business, with $38.1B of revenue in fiscal 2025 against $37.4B for Honeywell Technologies.
- GE Vernova grew revenue faster (9.0%, against 7.9%).
- Honeywell Technologies kept more of each dollar of sales as operating profit (21.7% operating margin, against 3.7%).
- Honeywell Technologies turned more of its sales into free cash flow (14.5% FCF margin, against 9.8%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
GE Vernova
GEV
5/9
Revenue growthNet marginReturn on equityPiotroski F-scoreNet debt / EBITDA
Honeywell Technologies
HON
4/9
Gross marginOperating marginFCF marginShare count change
Side by side
Best in the row
| Latest fiscal year | GEV FY25 | HON FY25 |
|---|---|---|
| Size | ||
| Market cap | $241.7B | $69.8B |
| Revenue | $38.1B | $37.4B |
| Free cash flow | $3.7B | $5.4B |
| Net income | $4.9B | $4.7B |
| Growth | ||
| Revenue growth | 9.0% | 7.9% |
| 5-year growth | — | 2.8% |
| Share count change | −0.7% | −1.9% |
| Profitability | ||
| Gross margin | 19.8% | 36.9% |
| Operating margin | 3.7% | 21.7% |
| Net margin | 12.8% | 12.6% |
| FCF margin | 9.8% | 14.5% |
| Return on capital | — | 17.1% |
| Return on equity | 47.1% | 29.1% |
| Balance sheet | ||
| Net debt | −$8.5B | $22.1B |
| Net debt / EBITDA | −3.8x | 2.3x |
| Dividends and buybacks | $3.6B | $6.8B |
| Valuation & quality | ||
| P/E | 25.7x | — |
| Piotroski F-score | 7 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.