Saturday 17 October 2026 Export ITW’s income statement to Excel — free account

Illinois Tool Works Inc.

ITW Industrials Specialty Industrial Machinery

Illinois Tool Works Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.0 billion, up 0.92% from fiscal 2024. In the quarter to June 2026, revenue grew 6.12%, EPS grew 10.5%, free cash flow grew 39.7% and total debt rose 8.47%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years; insiders bought in the last twelve months.

272.38 1.19 +0.44%

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Market cap: $77.2B
P/E: 24.6×
Fwd P/E: 22.3×
Dividend yield: 2.40%
F-score: 4/9
Altman Z: 7.88
Beneish M: −2.43
Dividend safety: 76/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 1.88

Total sells 67.30

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	1	—	—	—	—	—	1	—	—	—	—
Sell	1	—	—	3	—	—	—	—	—	2	—	—

Insider Ownership 0.94%

Capital & Financial Ratios $m

Market Cap 77,230.00

Revenue 16,469.00

Net Income 3,194.00

Free Cash Flow 2,929.00

Net Debt 8,855.00

Current Ratio 1.11

Debt/Equity 3.35

P/E ratio 24.63

Fwd P/E 22.30

P/S ratio 4.74

P/B ratio 26.95

Past 5Y EPS Growth 9.61%

This Y EPS Growth 8.93%

Next Y EPS Growth 7.38%

Next Y revenue growth 4.86%

Next 5Y EPS Growth 7.55%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 65.68%

10-year low 10-year high

P/S against its own 10 years 72.69%

10-year low 10-year high

P/B against its own 10 years 98.38%

10-year low 10-year high

EV/Sales against its own 10 years 77.11%

10-year low 10-year high

EV/FCF against its own 10 years 65.28%

10-year low 10-year high

Dividends

Payout Ratio 0.59

Annual Dividend Rate 6.55

Annual Dividend Yield 2.40%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	6.54	1.61 1.61 1.72
2025	6.22	1.50 1.50 1.61 1.61
2024	5.80	1.40 1.40 1.50 1.50
2023	5.42	1.31 1.31 1.40 1.40
2022	5.06	1.22 1.22 1.31 1.31
2021	4.72	1.14 1.14 1.22 1.22
2020	4.42	1.07 1.07 1.14 1.14
2019	4.14	1.00 1.00 1.07 1.07
2018	3.56	0.78 0.78 1.00 1.00
2017	2.86	0.65 0.65 0.78 0.78
2016	2.40	0.55 0.55 0.65 0.65

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,065	948	851	839
Receivables	3,123	2,991	3,227	3,564
Inventory	1,707	1,605	1,659	1,756
Other	—	—	—	—
	6,235	5,856	6,200	6,600

	2023	2024	2025	Q'26
Payables	581	519	522	636
ST’ Debt	1,825	1,555	2,286	3,145
Other	—	—	—	—
	4,675	4,308	5,126	5,953

Compound Annual Growth %

	10y	5y	3y
Sales	1.81%	4.99%	0.23%
Cash Flow	3.12%	2.18%	10.01%
Earnings	4.91%	7.77%	0.35%
Book Value	(4.71%)	0.28%	1.46%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	4,016	4,301	—	—	—
’25	3,839	4,053	4,059	4,093	16,044
’24	3,973	4,027	3,966	3,932	15,898
’23	4,019	4,074	4,031	3,983	16,107
’22	3,939	4,011	4,011	3,971	15,932
’21	3,544	3,676	3,556	3,679	14,455
’20	3,228	2,564	3,307	3,475	12,574

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	623	723	—	—	—
’25	592	550	1,021	963	3,126
’24	589	687	891	1,114	3,281
’23	728	790	982	1,039	3,539
’22	323	501	713	811	2,348
’21	609	555	619	774	2,557
’20	614	737	683	773	2,807

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	530	633	—	—	—
’25	499	453	904	862	2,718
’24	496	574	788	998	2,856
’23	618	707	862	917	3,104
’22	251	423	615	662	1,951
’21	543	478	551	697	2,269
’20	557	683	634	707	2,581

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.66	2.84	—	—	—
’25	2.38	2.58	2.81	2.72	10.49
’24	2.73	2.54	3.91	2.54	11.71
’23	2.33	2.48	2.55	2.38	9.74
’22	2.11	2.37	2.35	2.95	9.77
’21	2.11	2.45	2.02	1.93	8.51
’20	1.77	1.01	1.83	2.02	6.63

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	79.15	120.06	117.75	122.58	115.94	192.89	173.52	217.06	232.77	214.66	Analyst estimates 2026–2028 Powerpack
	High	127.99	169.69	179.07	182.34	224.69	248.11	249.81	265.00	279.13	278.13
People
People	Employees	50,000	50,000	48,000	45,000	43,000	45,000	46,000	45,000	44,000	43,000
	Revenue/emp, $m	0.27	0.29	0.31	0.31	0.29	0.32	0.35	0.36	0.36	0.37
Income, $m
Income, $m	Revenue	13,599	14,314	14,768	14,109	12,574	14,455	15,932	16,107	15,898	16,044
	Gross margin, %	41.85	41.97	41.74	41.97	41.35	41.27	40.82	42.16	44.28	44.10
	EBT	2,908	3,270	3,394	3,288	2,704	3,326	3,842	3,823	4,422	3,966
	EBT margin, %	21.38	22.84	22.98	23.30	21.50	23.01	24.11	23.74	27.81	24.72
	Net income	2,035	1,687	2,563	2,521	2,109	2,694	3,034	2,957	3,488	3,066
	Depreciation	470	462	461	426	427	410	410	395	402	397
Per share, $
Per share, $	Revenue	38.31	41.60	44.08	43.56	39.68	45.87	51.46	53.23	53.56	55.04
	Earnings	5.73	4.90	7.65	7.78	6.66	8.55	9.80	9.77	11.75	10.52
	Cash flow	6.48	6.98	8.39	9.25	8.86	8.11	7.58	11.70	11.05	10.72
	Capex	(0.72)	(0.82)	(1.01)	(0.93)	(0.71)	(0.91)	(1.28)	(1.44)	(1.43)	(1.40)
	Free cash flow	5.76	6.16	7.38	8.32	8.14	7.20	6.30	10.26	9.62	9.32
	Book value	12.00	13.34	9.73	9.35	10.04	11.51	9.98	9.96	11.18	11.07
	Shares, m	355	344	335	324	317	315	310	303	297	292
Valuation, ×
Valuation, ×	P/E	21.38	33.80	16.56	23.06	30.61	28.87	22.46	26.67	21.56	23.41
	P/S	3.20	3.97	2.87	4.12	5.14	5.38	4.28	4.90	4.73	4.48
	P/B	10.21	12.39	13.03	19.20	20.30	21.45	22.08	26.17	22.69	22.26
	EV/Sales	3.59	4.34	3.27	4.53	5.58	5.81	4.72	5.34	5.17	4.98
	EV/FCF	23.89	29.31	19.54	23.74	27.19	36.99	38.58	27.69	28.77	29.40
Cash, $m
Cash, $m	Operating cash flow	2,302	2,402	2,811	2,995	2,807	2,557	2,348	3,539	3,281	3,126
	Capex	(257)	(283)	(338)	(301)	(226)	(288)	(397)	(435)	(425)	(408)
	Free cash flow	2,045	2,119	2,473	2,694	2,581	2,269	1,951	3,104	2,856	2,718
Balance, $m
Balance, $m	Working capital	3,363	4,225	2,236	4,099	3,934	2,904	1,810	1,560	1,548	1,074
	Total debt	7,829	8,328	7,380	7,758	8,122	7,687	7,763	8,164	7,863	8,969
	Net debt	5,357	5,234	5,876	5,777	5,558	6,160	7,055	7,099	6,915	8,118
	Shareholders’ equity	4,259	4,589	3,258	3,030	3,182	3,626	3,089	3,013	3,317	3,226
Returns, %
Returns, %	ROA	13.16	10.55	16.20	16.84	13.75	17.00	19.26	19.11	22.81	19.64
	ROIC	19.86	22.17	24.52	24.14	20.61	22.21	23.35	24.97	26.05	23.23
	ROE	42.90	38.13	65.32	80.18	67.90	79.14	90.36	96.92	110.21	93.72

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ETN Eaton Corporation, PLC	$156.3B	39.7×	34.3×	+21.39% (above 0%: growing)	−16.27% (below 0%: shrinking)	+21.53% (above 0%: growing)	33.47%	16.32%	Compare
PH Parker-Hannifin Corporation	$121.3B	33.3×	28.8×	+9.77% (above 0%: growing)	+19.45% (above 0%: growing)	+17.22% (above 0%: growing)	39.04%	23.86%	Compare
EMR Emerson Electric Co.	$90.5B	35.3×	28.3×	+7.03% (above 0%: growing)	+23.08% (above 0%: growing)	+35.31% (above 0%: growing)	54.48%	26.92%	Compare
ITW Illinois Tool Works Inc.	$77.2B	24.6×	22.3×	+6.12% (above 0%: growing)	+10.47% (above 0%: growing)	+39.74% (above 0%: growing)	44.13%	26.67%
CMI Cummins Inc.	$73.3B	27.0×	23.2×	+9.42% (above 0%: growing)	+4.64% (above 0%: growing)	+125.63% (above 0%: growing)	26.07%	13.52%	Compare
AME AMETEK, Inc.	$57.0B	36.1×	31.3×	+14.98% (above 0%: growing)	+14.84% (above 0%: growing)	+36.95% (above 0%: growing)	35.95%	25.84%	Compare
ROK Rockwell Automation, Inc.	$46.9B	39.9×	36.1×	+7.88% (above 0%: growing)	+40.38% (above 0%: growing)	+33.74% (above 0%: growing)	49.46%	21.75%	Compare
IR Ingersoll Rand Inc.	$30.2B	31.7×	29.8×	+8.52% (above 0%: growing)	n/m	+28.33% (above 0%: growing)	42.10%	18.56%	Compare
OTIS Otis Worldwide Corporation	$26.8B	18.2×	17.1×	+7.34% (above 0%: growing)	+12.00% (above 0%: growing)	+4.69% (above 0%: growing)	29.44%	14.90%	Compare
Median of peers	$65.2B	34.3×	29.3×	+8.97%	+14.84%	+31.04%	37.50%	20.16%

All 76 Specialty Industrial Machinery stocks →

Illinois Tool Works Inc. (ITW) key facts

Concern: Net income was $3.1 billion, or $10.52 per share (basic), a net margin of 19.1%.
Strength: Illinois Tool Works Inc.’s revenue for fiscal 2025 (year ended December 2025) was $16.0 billion, up 0.92% from fiscal 2024.
Illinois Tool Works Inc. (ITW) is a Specialty Industrial Machinery company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, ITW traded at $272.38, a market capitalization of $77.2 billion.
At that price the stock trades at 24.6× trailing-twelve-month earnings and 4.7× sales; its P/E is higher than 66% of its own readings over the past ten years.
Illinois Tool Works Inc. pays an annual dividend of $6.55 per share, a yield of 2.40%, with a payout ratio of 59.4%.
Return on equity was 93.7% and debt-to-equity 3.35.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 7.88 (safe zone) for fiscal 2025.