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HON vs. MAIR: Honeywell vs. Madison Air Stock Comparison

How do Honeywell (HON) and Madison Air (MAIR) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Honeywell (HON) and Madison Air (MAIR) both fall under the Capital Goods industry group, but HON is classified in Industrial Conglomerates while MAIR is classified in Building Products.

Honeywell (HON) has been public since January 2, 1962, giving it decades of market history across multiple cycles, while Madison Air (MAIR) listed only on April 16, 2026 and lacks comparable through-cycle data.

Company profile comparison for Honeywell (HON) and Madison Air (MAIR)
Profile ItemHONMAIR
NameHoneywell International Inc.Madison Air Solutions Corporation Class A Common Stock
Country/RegionUnited StatesUnited States
GICS SectorIndustrialsIndustrials
GICS Industry GroupCapital GoodsCapital Goods
GICS IndustryIndustrial ConglomeratesBuilding Products
GICS Sub-IndustryIndustrial ConglomeratesBuilding Products
Market Capitalization69.74 billion USD11.56 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 2, 1962April 16, 2026
Security TypeCommon StockCommon Stock

Price Performance

Cumulative Growth

HON
MAIR
GSPC
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Honeywell (HON) vs. Madison Air (MAIR), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Honeywell (HON) and Madison Air (MAIR). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Honeywell (HON) and Madison Air (MAIR). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Total Return (1Y)14.14%--
Total Return (3Y, Annualized)9.90%--
Total Return (5Y, Annualized)2.32%--

Risk Profile

Drawdown History

HON
MAIR
GSPC
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Honeywell (HON) vs. Madison Air (MAIR), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Honeywell (HON) and Madison Air (MAIR). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Volatility (1Y, Annualized)27.11%57.10%
Beta (5Y)0.801.60
Max Drawdown (5Y)-25.21%-51.16%
Avg. Volume (3M)2.82M2.60M

Risk-Adjusted Performance

Risk-Return Positioning

Both HON and MAIR need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Risk-adjusted metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Sharpe Ratio (1Y)0.36--
Sortino Ratio (1Y)0.52--

Profitability

ROE (TTM)

Capital efficiency shows on one side only: Honeywell (HON) earns 44.39% on shareholders’ equity, ranked against its industry; Madison Air (MAIR) has no ROE this period.

HON

Capital Goods industry group

44.39%

HON
44.39%
Max
40.55%
Q3
19.29%
Median
12.12%
Q1
4.08%
Min
-17.12%

MAIR

Capital Goods industry group

--

Max
40.55%
Q3
19.29%
Median
12.12%
Q1
4.08%
Min
-17.12%
MAIR
--
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Honeywell (HON) vs. Madison Air (MAIR): MAIR does not report ROE, so it has no value marker; HON is benchmarked against the Capital Goods industry group.

Net Margin (TTM)

Honeywell (HON) at 18.68% retains a top-quartile share of revenue as profit, ahead of Madison Air (MAIR) at 3.73%, which keeps about the industry-typical share.

HON

Capital Goods industry group

18.68%

Max
27.47%
HON
18.68%
Q3
12.10%
Median
6.30%
Q1
1.40%
Min
-12.89%

MAIR

Capital Goods industry group

3.73%

Max
27.47%
Q3
12.10%
Median
6.30%
MAIR
3.73%
Q1
1.40%
Min
-12.89%
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Madison Air (MAIR) at 19.76% operates in the top operating margin quartile, ahead of Honeywell (HON) at 16.92%, which runs around its industry’s norm.

HON

Capital Goods industry group

16.92%

Max
36.60%
Q3
18.33%
HON
16.92%
Median
11.12%
Q1
5.14%
Min
-12.63%

MAIR

Capital Goods industry group

19.76%

Max
36.60%
MAIR
19.76%
Q3
18.33%
Median
11.12%
Q1
5.14%
Min
-12.63%
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
ROE (TTM)44.39%--
ROA (TTM)7.13%--
Net Margin (TTM)18.68%3.73%
Operating Margin (TTM)16.92%19.76%
Gross Margin (TTM)37.21%39.06%

Growth

Revenue Growth

Madison Air (MAIR) at 34.07% sits in the top revenue growth quartile, while Honeywell (HON) at 7.85% is closer to the peer norm — faster top-line expansion for MAIR.

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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Honeywell (HON) at -8.27% and Madison Air (MAIR) at -2.32% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Revenue Growth (YoY)7.85%34.07%
Revenue Growth (3Y CAGR)1.82%--
EPS Growth (YoY)-8.27%-2.32%
EPS Growth (3Y CAGR)3.20%--

Financial Strength

Current Ratio (MRQ)

Madison Air (MAIR) at 1.82 keeps current ratio within its industry’s typical mid-range, while Honeywell (HON) at 0.96 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for HON.

HON

Capital Goods industry group

0.96

Max
5.22
Q3
2.95
Median
2.08
Q1
1.43
HON
0.96
Min
0.36

MAIR

Capital Goods industry group

1.82

Max
5.22
Q3
2.95
Median
2.08
MAIR
1.82
Q1
1.43
Min
0.36
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both Honeywell (HON) at 0.76 and Madison Air (MAIR) at 0.87 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

HON

Capital Goods industry group

0.76

Max
2.33
Q3
1.12
HON
0.76
Median
0.60
Q1
0.29
Min
0.00

MAIR

Capital Goods industry group

0.87

Max
2.33
Q3
1.12
MAIR
0.87
Median
0.60
Q1
0.29
Min
0.00
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Current Ratio (MRQ)0.961.82
Debt / Equity (MRQ)0.760.87
Net Debt / EBITDA1.233.37

Dividends

Dividend Yield (TTM)

Madison Air (MAIR) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Honeywell (HON) reports a yield of 3.63%, ranking against industry peers normally.

HON

Capital Goods industry group

3.63%

HON
3.63%
Max
2.66%
Q3
1.14%
Median
0.24%
Q1
0.00%
Min
0.00%

MAIR

Capital Goods industry group

0.00%

Max
2.66%
Q3
1.14%
Median
0.24%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Madison Air (MAIR) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Honeywell (HON) reports a payout of 38.87%, ranking against industry peers normally.

HON

Capital Goods industry group

38.87%

Max
67.39%
HON
38.87%
Q3
28.02%
Median
6.86%
Q1
0.00%
Min
0.00%

MAIR

Capital Goods industry group

0.00%

Max
67.39%
Q3
28.02%
Median
6.86%
MAIR
0.00%
Q1
0.00%
Min
0.00%
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
Dividend Yield (TTM)3.63%0.00%
Dividend Payout Ratio (TTM)38.87%0.00%

Valuation

P/E Ratio (TTM)

Honeywell (HON) at 10.91 sits in the cheaper P/E ratio quartile, while Madison Air (MAIR) at 164.57 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

HON

Capital Goods industry group

10.91

Max
59.38
Q3
35.92
Median
25.41
Q1
19.47
HON
10.91
Min
3.03

MAIR

Capital Goods industry group

164.57

MAIR
164.57
Max
59.38
Q3
35.92
Median
25.41
Q1
19.47
Min
3.03
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

On P/S ratio, both Honeywell (HON) at 1.85 and Madison Air (MAIR) at 3.09 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

HON

Capital Goods industry group

1.85

Max
7.54
Q3
3.76
Median
2.15
HON
1.85
Q1
1.03
Min
0.03

MAIR

Capital Goods industry group

3.09

Max
7.54
Q3
3.76
MAIR
3.09
Median
2.15
Q1
1.03
Min
0.03
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Honeywell (HON) at 3.12 and Madison Air (MAIR) at 3.17 are valued close to their industries’ norm against book — neither stands out from peers.

HON

Capital Goods industry group

3.12

Max
9.66
Q3
5.00
HON
3.12
Median
3.12
Q1
1.81
Min
-1.08

MAIR

Capital Goods industry group

3.17

Max
9.66
Q3
5.00
MAIR
3.17
Median
3.12
Q1
1.81
Min
-1.08
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Honeywell (HON) vs. Madison Air (MAIR): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Honeywell (HON) and Madison Air (MAIR)
MetricHONMAIR
P/E Ratio (TTM)10.91164.57
P/S Ratio (TTM)1.853.09
P/B Ratio (MRQ)3.123.17
Free Cash Flow Yield (TTM)10.07%--