Industrial automation platform
Honeywell Technologies
Following the June 2026 aerospace spin-off, Honeywell Technologies earns revenue from controls, software and services for buildings, processes and industrial automation. It incorporates NXP processors and Google Cloud AI into its products and operates Carrier's acquired access and security business within Building Automation. FY2025 total revenue is reported on a pre-spin consolidated basis and therefore includes Honeywell Aerospace.
HON Updated Sep 11, 2026 3 AI consumers· 3 recurring
Per the valuechain.wiki graph, Honeywell Technologies is directly linked to 6 companies (2 supply, 2 revenue, 2 investment relationships) and reaches 33 companies within two hops; the links are backed by 15 dated sources, 4 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 total revenue of $37.442 billion (pre-spin consolidated basis, SEC 10-K, 2026-02-17)
- Segments · Aerospace Technologies · Industrial Automation · Building Automation · Energy and Sustainability Solutions · Corporate and All Other
Revenue from
- ExxonMobil Medium confidence
ExxonMobil is a customer example for Honeywell's process technology and equipment. Honeywell operates and upgrades TDC 3000 and Experion LCN distributed control systems at multiple ExxonMobil sites, and its 2026 account describes a relationship spanning more than 50 years.Confirms EN Honeywell Technologies Published Jun 25, 2026: ExxonMobil Names Honeywell its 2025 Supplier Innovation Award WinnerConfirms EN Honeywell Technologies Published Jun 11, 2026: Honeywell Technologies 2026 Investor Day Presentation - Chevron Corporation Medium confidence
Chevron is presented as a customer example for Honeywell UOP catalysts and adsorbents and as a user of the Experion distributed control system. The companies are co-developing AI capabilities for alarm response and operating decisions in refining processes.Confirms EN Honeywell Technologies Published Jun 11, 2026: Honeywell Technologies 2026 Investor Day PresentationConfirms EN Honeywell Published Oct 1, 2024: Honeywell and Chevron Collaborate on AI-Assisted Solutions for Refining Processes
Pays to
- NXP Semiconductors Medium confidence
Honeywell embeds NXP application processors in building management, fire safety and security products. The companies are also extending their work into AI and machine learning for next-generation building controllers, making NXP a key semiconductor supplier to the current automation portfolio.Confirms EN Honeywell Published Jan 8, 2025: Honeywell and NXP Expand Partnership to Accelerate Next-generation Aviation TechnologyMentions EN Aviation Week Intelligence Network Published Jan 8, 2025: Honeywell, NXP Semiconductors Deepen Avionics PartnershipConfirms KO Investing.com Korea Published Jan 8, 2025: Honeywell Strengthens Aviation Technology with NXP Semiconductors - Alphabet (Google) Medium confidence
Honeywell integrates Google Cloud's Vertex AI, Gemini and threat intelligence into Honeywell Forge and industrial cybersecurity products. No commercial consideration is disclosed, but Google's AI and cloud technology is a confirmed external input to Honeywell's industrial software stack.
Investments
- Carrier Global High confidence· Amount $4.9B · transaction closed 2024-06-03 · Total consideration for the Global Access Solutions acquisition, net of cash acquired, per Honeywell FY2025 Form 10-K
Honeywell acquired Carrier Global's Global Access Solutions business in June 2024 and integrated LenelS2, Onity and Supra into Building Automation. The announced deal value was $4.95 billion, Honeywell's FY2025 10-K records $4.913 billion of total consideration net of cash acquired, and Carrier reports $5.0 billion of cash proceeds.Confirms EN Honeywell Published Jun 3, 2024: Honeywell Completes Acquisition Of Carrier's Global Access Solutions Business And Updates 2024 Outlook - Honeywell Aerospace Inc. High confidence
Honeywell Technologies was Honeywell Aerospace's 100% owner immediately before the spin-off and distributed all of its shares to existing shareholders on June 29, 2026, at a ratio of one Honeywell Aerospace share for every two Honeywell Technologies shares.Confirms EN Honeywell Aerospace Published Jun 29, 2026: Honeywell Aerospace Completes Spin-Off from Honeywell Technologies and Begins Trading on NasdaqConfirms KO Alpha Economy Published Jun 10, 2026: Honeywell Reaffirms 2026 Outlook Ahead of Aerospace Spin-OffMentions EN SEC EDGAR Published Feb 17, 2026: Honeywell International 2025 Form 10-K Disaggregated Revenue Table
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CF Industries | lead2 | +87.2 | +22.3 | -4.7 | +10.1 | -7.2 | +74.9 |
| Chubu Electric Power Co. | lead2 | -6.9 | +26.2 | +41.4 | -12.8 | +43.8 | +31.9 |
| Linde | lead2 | +33.4 | -4.4 | +27.7 | +3.2 | +3.2 | +13.1 |
| O’Reilly Automotive | lead2 | +56 | +19.5 | +12.6 | +24.8 | +15.4 | -3.6 |
| Tokyo Electric Power Company Holdings, Incorporated | lead2 | -23.7 | +58.5 | +62.5 | -48.1 | +42 | -4.5 |
| Chevron Corporation | lead1 | +46.2 | +58.5 | -13.6 | +1.3 | +10.1 | +40.7 |
| ExxonMobil | lead1 | +57.6 | +87.4 | -6.3 | +11.3 | +16 | +35.2 |
| Honeywell Technologies | node | -0.3 | +4.9 | +0 | +10 | -6.4 | +3.8 |
| Carrier Global Corporation | benef1 | +45.3 | -22.7 | +41.5 | +20.3 | -21.8 | +14.3 |
| Alphabet (Google) | benef1 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| NXP Semiconductors | benef1 | +44.8 | -29.2 | +48.4 | -8 | +6.4 | +5.9 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Intel | benef2 | +6.1 | -46.6 | +94.6 | -59.6 | +84 | +159.6 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Flex Ltd. | benef2 | +1.9 | +17.1 | +41.9 | +67.2 | +57.4 | +81.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| TeraWulf | benef2 | +77.1 | -95.5 | +258.2 | +135.8 | +103 | +43.7 |
| TSMC | benef2 | +12.1 | -36.7 | +42.3 | +92.6 | +55.9 | +41.9 |
| JCET (Jiangsu Changjiang Electronics) | benef2 | -34 | +0.2 | -15.2 | +73.3 | +28 | +36.3 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| NextEra Energy | benef2 | +23.4 | -8.5 | -25.3 | +21.5 | +15.5 | +6.2 |
| Duke Energy Corporation | benef2 | +19.1 | +2 | -1.6 | +15.6 | +12.7 | +5.3 |
| Xcel Energy | benef2 | +4.4 | +6.4 | -8.7 | +12.3 | +13.9 | +4.1 |
| Broadcom | benef2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +3.8 |
| Berkshire Hathaway | benef2 | +29 | +3.3 | +15.5 | +27.1 | +10.9 | +0.7 |
| Comcast Corporation | benef2 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -1.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Honeywell Technologies operates across Industrial automation platform. It is +3.8% in 2026. The demand side (avg +38%) is well ahead of the stock (+3.8%). Customer money has not fully worked its way down to this layer, which leaves catch-up room if propagation continues and a hardened gap if it stalls. Among connected nodes the furthest ahead is Chevron Corporation (+40.7%) and the furthest behind is NXP Semiconductors (+5.9%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. FY2025 total revenue is reported on a pre-spin consolidated basis and therefore includes Honeywell Aerospace.
Analysis generated from returns as of 2026-09-04