HONA vs. LECO: Honeywell Aerospace vs. Lincoln Electric Stock Comparison

Company Profile

Honeywell Aerospace (HONA) and Lincoln Electric (LECO) both fall under the Capital Goods industry group, but HONA is classified in Aerospace & Defense while LECO is classified in Machinery.

Lincoln Electric (LECO) has been public since April 7, 1994, giving it decades of market history across multiple cycles, while Honeywell Aerospace (HONA) listed only on June 15, 2026 and lacks comparable through-cycle data.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Honeywell Aerospace (HONA) reports a negative beta of -5.78, suggesting inverse market sensitivity over the measurement window. That is uncommon for ordinary equities and can reflect commodity-linked or hedge-like exposure, but it can also come from statistical noise. Lincoln Electric (LECO) has a non-negative beta of 1.17.

Risk-Adjusted Performance

Risk-Return Positioning

Both HONA and LECO need 1-year volatility and 1-year return to plot risk-return positioning.

Risk-Adjusted Metrics

Profitability

Capital efficiency shows on one side only: Lincoln Electric (LECO) earns 38.75% on shareholders’ equity, ranked against its industry; Honeywell Aerospace (HONA) has no ROE this period.

Lincoln Electric (LECO) at 12.40% retains a top-quartile share of revenue as profit, ahead of Honeywell Aerospace (HONA) at 11.25%, which keeps about the industry-typical share.

Honeywell Aerospace (HONA) at 23.69% operates in the top operating margin quartile, ahead of Lincoln Electric (LECO) at 18.29%, which runs around its industry’s norm.

Profitability Metrics

Growth

Both Honeywell Aerospace (HONA) at 12.68% and Lincoln Electric (LECO) at 5.60% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Lincoln Electric (LECO) at 14.36% is around its peer norm for EPS growth, while Honeywell Aerospace (HONA) at -36.80% drops into the bottom quartile, signaling weaker earnings momentum.

Growth Metrics

Financial Strength

Both Honeywell Aerospace (HONA) at 1.64 and Lincoln Electric (LECO) at 1.91 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

Only one side’s leverage can be read here: Lincoln Electric (LECO) carries debt-to-equity ratio of 0.78 against its industry range, while Honeywell Aerospace (HONA) reports no figure this period.

Financial Strength Metrics

Dividends

Honeywell Aerospace (HONA) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lincoln Electric (LECO) reports a yield of 1.16%, ranking against industry peers normally.

Honeywell Aerospace (HONA) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Lincoln Electric (LECO) reports a payout of 30.30%, ranking against industry peers normally.

Dividend Metrics

Valuation

Lincoln Electric (LECO) at 26.40 is near its industry’s usual P/E ratio, while Honeywell Aerospace (HONA) at 43.32 sits in the richer quartile — HONA needs stronger growth or earnings quality to justify the premium.

On P/S ratio, both Honeywell Aerospace (HONA) at 2.69 and Lincoln Electric (LECO) at 3.21 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

Honeywell Aerospace (HONA) reports a negative P/B ratio of -18.85, meaning negative book equity — the multiple itself is not meaningful for valuation. Meanwhile Lincoln Electric (LECO) reports 9.59, ranking against industry peers normally.

Valuation Metrics