HON vs. AGX

Last updated Jun 3, 2026

HON (Honeywell International Inc) and AGX (Argan, Inc.) are both stocks. Both are in the Industrials sector — HON in Conglomerates, AGX in Engineering & Construction. Over the past 10 years, HON returned 10.81%/yr vs 38.10%/yr for AGX. At a 0.20 correlation, their price movements are largely independent.

Performance

HON vs. AGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Honeywell International Inc (HON) and Argan, Inc. (AGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HON achieves a 21.84% return, which is significantly lower than AGX's 112.09% return. Over the past 10 years, HON has underperformed AGX with an annualized return of 10.81%, while AGX has yielded a comparatively higher 38.10% annualized return.

HON

• 1D: -0.55%
• 1M: 11.30%
• YTD: 21.84%
• 6M: 23.06%
• 1Y: 13.08%
• 3Y*: 10.21%
• 5Y*: 3.85%
• 10Y*: 10.81%

AGX

• 1D: 2.51%
• 1M: -5.57%
• YTD: 112.09%
• 6M: 85.89%
• 1Y: 217.67%
• 3Y*: 156.33%
• 5Y*: 71.91%
• 10Y*: 38.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HON vs. AGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HON Honeywell International Inc	21.84%	-6.37%	10.02%	0.02%	4.90%	-0.29%	22.97%	36.70%	-8.27%	35.10%
AGX Argan, Inc.	112.09%	130.61%	198.31%	30.24%	-2.01%	-11.64%	19.15%	8.62%	-14.32%	-34.26%

Correlation

The correlation between HON and AGX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 21, 1995	0.20

The correlation between HON and AGX shifts across timeframes, from 0.15 (1 year) to 0.31 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HON : $150.17B AGX : $9.40B
EPS HON : $6.42 AGX : $9.73
PE Ratio HON : 36.66 AGX : 68.14
PS Ratio HON : 4.09 AGX : 9.94
PB Ratio HON : 7.05 AGX : 20.34
Total Revenue (TTM) HON : $36.76B AGX : $944.61M
Gross Profit (TTM) HON : $13.58B AGX : $193.68M
EBITDA (TTM) HON : $6.55B AGX : $134.70M

Return for Risk

HON vs. AGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HON

HON Risk / Return Rank: 56
HON Sharpe Ratio Rank: 60
HON Sortino Ratio Rank: 54
HON Omega Ratio Rank: 52
HON Calmar Ratio Rank: 57
HON Martin Ratio Rank: 55

AGX

AGX Risk / Return Rank: 93
AGX Sharpe Ratio Rank: 94
AGX Sortino Ratio Rank: 92
AGX Omega Ratio Rank: 89
AGX Calmar Ratio Rank: 96
AGX Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HON vs. AGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Honeywell International Inc (HON) and Argan, Inc. (AGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HON	AGX	Difference
Sharpe ratio Return per unit of total volatility	0.60	2.94	-2.34
Sortino ratio Return per unit of downside risk	1.03	3.47	-2.44
Omega ratio Gain probability vs. loss probability	1.13	1.43	-0.31
Calmar ratio Return relative to maximum drawdown	0.78	8.70	-7.92
Martin ratio Return relative to average drawdown	1.33	23.06	-21.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HON vs. AGX - Sharpe Ratio Comparison

The current HON Sharpe Ratio is 0.60, which is lower than the AGX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of HON and AGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HON	AGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	2.94	-2.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	1.43	-1.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.83	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.05	+0.23

Drawdowns

HON vs. AGX - Drawdown Comparison

The maximum HON drawdown since its inception was -70.09%, smaller than the maximum AGX drawdown of -94.37%. Use the drawdown chart below to compare losses from any high point for HON and AGX.

Drawdown Indicators

	HON	AGX	Difference
Max Drawdown Largest peak-to-trough decline	-70.09%	-94.37%	+24.28%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-24.96%	+8.93%
Max Drawdown (3Y) Largest decline over 3 years	-22.10%	-43.75%	+21.65%
Max Drawdown (5Y) Largest decline over 5 years	-27.13%	-43.75%	+16.62%
Max Drawdown (10Y) Largest decline over 10 years	-43.01%	-54.61%	+11.60%
Current Drawdown Current decline from peak	-4.64%	-10.50%	+5.86%
Average Drawdown Average peak-to-trough decline	-20.28%	-48.37%	+28.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.42%	9.42%	0.00%

Volatility

HON vs. AGX - Volatility Comparison

The current volatility for Honeywell International Inc (HON) is 6.90%, while Argan, Inc. (AGX) has a volatility of 14.62%. This indicates that HON experiences smaller price fluctuations and is considered to be less risky than AGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HON	AGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.90%	14.62%	-7.72%
Volatility (6M) Calculated over the trailing 6-month period	16.15%	55.20%	-39.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.94%	74.51%	-52.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.57%	50.60%	-29.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.44%	46.01%	-22.57%

Dividends

HON vs. AGX - Dividend Comparison

HON's dividend yield for the trailing twelve months is around 1.97%, more than AGX's 0.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGX Argan, Inc.	0.28%	0.52%	0.93%	2.24%	2.71%	1.94%	7.31%	2.49%	1.98%	4.44%	1.42%	2.16%
HON Honeywell International Inc	1.97%	2.25%	1.93%	1.99%	1.85%	1.81%	1.71%	1.90%	2.24%	1.79%	2.11%	2.07%

Financials

HON vs. AGX - Profitability Comparison

The chart below illustrates the profitability comparison between Honeywell International Inc and Argan, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Honeywell International Inc reported a gross profit of 3.54B and revenue of 9.14B. Therefore, the gross margin over that period was 38.7%.

AGX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Argan, Inc. reported a gross profit of 65.60M and revenue of 262.05M. Therefore, the gross margin over that period was 25.0%.

HON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Honeywell International Inc reported an operating income of 886.00M and revenue of 9.14B, resulting in an operating margin of 9.7%.

AGX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Argan, Inc. reported an operating income of 47.67M and revenue of 262.05M, resulting in an operating margin of 18.2%.

HON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Honeywell International Inc reported a net income of 821.00M and revenue of 9.14B, resulting in a net margin of 9.0%.

AGX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Argan, Inc. reported a net income of 49.21M and revenue of 262.05M, resulting in a net margin of 18.8%.

Frequently Asked Questions

Can I hold both HON and AGX in my portfolio?

HON and AGX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HON or AGX?

AGX has higher volatility (14.62%) compared to HON (6.90%). In terms of maximum drawdown, HON dropped -70.09% vs AGX's -94.37%.

Which has better risk-adjusted returns?

AGX currently has the higher Sharpe Ratio (2.94 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.