Key Insights on Gross Profit: Honeywell International Inc. vs Allegion plc

A Decade of Gross Profit Growth: Honeywell vs. Allegion

In the competitive landscape of industrial giants, Honeywell International Inc. and Allegion plc have showcased remarkable financial trajectories over the past decade. From 2014 to 2023, Honeywell's gross profit consistently outpaced Allegion's, with an average annual gross profit of approximately $12 billion, compared to Allegion's $1.1 billion. Notably, Honeywell's gross profit peaked in 2023, reaching a staggering $13.7 billion, marking a 31% increase from its 2020 low. Meanwhile, Allegion demonstrated a robust growth trajectory, with its gross profit surging by 85% from 2014 to 2023, culminating in a record $1.6 billion in 2023. This period highlights Honeywell's dominance in scale, while Allegion's impressive growth rate underscores its potential in the industrial sector. As these companies continue to innovate, their financial performances offer valuable insights into their strategic directions and market positions.