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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%
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 (above 2: weak)
P/E ratio 24.63
Fwd P/E 22.30
P/S ratio 4.74
P/B ratio 26.95 (above 6: high)
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
EV/Sales is 5.3×, against a ten-year median of 4.8×; over the ten years it ranged from 2.8× in 2016 to 6.1× in 2021.
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.

Target Price Range

Analyst price targets

Recommendation Rating

3.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Illinois Tool Works Inc. vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

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 →

ITW metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations.

Illinois Tool Works Inc. (ITW) Latest News

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stockrow.com/ITW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com