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Illinois Tool Works (ITW) Financials

Illinois Tool Works logo
$243.80 -2.89 (-1.17%)
Closing price 05/28/2025 03:59 PM Eastern
Extended Trading
$245.48 +1.68 (+0.69%)
As of 07:58 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for Illinois Tool Works

Annual Income Statements for Illinois Tool Works

This table shows Illinois Tool Works' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders
3,488 2,957 3,034 2,694 2,109 2,521 2,563 1,687 2,035 1,899
Consolidated Net Income / (Loss)
3,488 2,957 3,034 2,694 2,109 2,521 2,563 1,687 2,035 1,899
Net Income / (Loss) Continuing Operations
3,488 2,957 3,034 2,694 2,109 2,521 2,563 1,687 2,035 1,899
Total Pre-Tax Income
4,422 3,823 3,842 3,326 2,704 3,288 3,394 3,270 2,908 2,719
Total Operating Income
4,264 4,040 3,790 3,477 2,882 3,402 3,584 3,485 3,056 2,867
Total Gross Profit
7,040 6,791 6,503 5,966 5,199 5,922 6,164 6,008 5,691 5,517
Total Revenue
15,898 16,107 15,932 14,455 12,574 14,109 14,768 14,314 13,599 13,405
Operating Revenue
15,898 16,107 15,932 14,455 12,574 14,109 14,768 14,314 13,599 13,405
Total Cost of Revenue
8,858 9,316 9,429 8,489 7,375 8,187 8,604 8,306 7,908 7,888
Operating Cost of Revenue
8,858 9,316 9,429 8,489 7,375 8,187 8,604 8,306 7,908 7,888
Total Operating Expenses
2,776 2,751 2,713 2,489 2,317 2,520 2,580 2,523 2,635 2,650
Research & Development Expense
2,675 2,638 2,579 2,356 2,163 2,361 2,391 2,412 2,411 2,417
Amortization Expense
101 113 134 133 154 159 189 206 224 233
Total Other Income / (Expense), net
158 -217 52 -151 -178 -114 -190 -215 -148 -148
Interest Expense
283 266 203 202 206 221 257 260 237 226
Other Income / (Expense), net
441 49 255 51 28 107 67 45 89 78
Income Tax Expense
934 866 808 632 595 767 831 1,583 873 820
Basic Earnings per Share
$11.75 $9.77 $9.80 $8.55 $6.66 $7.78 $7.65 $4.90 $5.73 $5.16
Weighted Average Basic Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 328.11M 344.10M 355M 367.90M
Diluted Earnings per Share
$11.71 $9.74 $9.77 $8.51 $6.63 $7.74 $7.60 $4.86 $5.70 $5.13
Weighted Average Diluted Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 328.11M 344.10M 355M 367.90M
Weighted Average Basic & Diluted Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 328.11M 344.10M 355M 367.90M
Cash Dividends to Common per Share
$5.70 $5.33 $4.97 $4.64 $4.35 $4.07 $3.34 $2.73 $2.30 $2.01

Quarterly Income Statements for Illinois Tool Works

This table shows Illinois Tool Works' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
700 750 1,160 759 819 717 772 754 714 907 727
Consolidated Net Income / (Loss)
700 750 1,160 759 819 717 772 754 714 907 727
Net Income / (Loss) Continuing Operations
700 750 1,160 759 819 717 772 754 714 907 727
Total Pre-Tax Income
895 983 1,362 1,005 1,072 927 1,013 961 922 1,121 957
Total Operating Income
951 1,031 1,052 1,054 1,127 988 1,070 1,010 972 986 983
Total Gross Profit
1,678 1,711 1,736 1,765 1,828 1,671 1,712 1,730 1,678 1,662 1,640
Total Revenue
3,839 3,932 3,966 4,027 3,973 3,983 4,031 4,074 4,019 3,971 4,011
Operating Revenue
3,839 3,932 3,966 4,027 3,973 3,983 4,031 4,074 4,019 3,971 4,011
Total Cost of Revenue
2,161 2,221 2,230 2,262 2,145 2,312 2,319 2,344 2,341 2,309 2,371
Operating Cost of Revenue
2,161 2,221 2,230 2,262 2,145 2,312 2,319 2,344 2,341 2,309 2,371
Total Operating Expenses
727 680 684 711 701 683 642 720 706 676 657
Research & Development Expense
706 655 658 686 676 658 615 690 675 644 624
Amortization Expense
21 25 26 25 25 25 27 30 31 32 33
Total Other Income / (Expense), net
-56 -48 310 -49 -55 -61 -57 -49 -50 135 -26
Interest Expense
68 68 69 75 71 70 67 69 60 56 52
Other Income / (Expense), net
12 20 379 26 16 9.00 10 20 10 191 26
Income Tax Expense
195 233 202 246 253 210 241 207 208 214 230
Basic Earnings per Share
$2.39 $2.54 $3.92 $2.55 $2.74 $2.39 $2.55 $2.49 $2.34 $2.95 $2.36
Weighted Average Basic Shares Outstanding
293.60M 293.50M 296.10M 297.60M 298.90M 298.80M 301.90M 303.30M 305M 305.07M 308.80M
Diluted Earnings per Share
$2.38 $2.53 $3.91 $2.54 $2.73 $2.38 $2.55 $2.48 $2.33 $2.94 $2.35
Weighted Average Diluted Shares Outstanding
294.50M 293.50M 297M 298.50M 300M 298.80M 303M 304.20M 306.10M 305.07M 309.70M
Weighted Average Basic & Diluted Shares Outstanding
293M 293.50M 295.30M 296.90M 298.40M 298.80M 300.89M 302.39M 303.90M 305.07M 307.19M
Cash Dividends to Common per Share
$1.50 - $1.50 $1.40 $1.40 - $1.40 $1.31 $1.31 - $1.31

Annual Cash Flow Statements for Illinois Tool Works

This table details how cash moves in and out of Illinois Tool Works' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents
-117 357 -819 -1,037 583 477 -1,478 622 -618 -900
Net Cash From Operating Activities
3,281 3,539 2,348 2,557 2,807 2,995 2,811 2,402 2,302 2,299
Net Cash From Continuing Operating Activities
3,281 3,539 2,348 2,557 2,807 2,995 2,811 2,402 2,302 2,299
Net Income / (Loss) Continuing Operations
3,488 2,957 3,034 2,694 2,109 2,521 2,563 1,687 2,035 1,899
Consolidated Net Income / (Loss)
3,488 2,957 3,034 2,694 2,109 2,521 2,563 1,687 2,035 1,899
Depreciation Expense
301 282 276 277 273 267 272 256 246 244
Amortization Expense
101 113 134 133 154 159 189 206 224 233
Non-Cash Adjustments To Reconcile Net Income
-420 71 -133 27 43 -21 31 21 18 29
Changes in Operating Assets and Liabilities, net
-189 116 -963 -574 228 69 -244 232 -221 -106
Net Cash From Investing Activities
-144 -403 -110 -984 -214 -183 -325 -251 -532 -210
Net Cash From Continuing Investing Activities
-144 -403 -110 -984 -214 -183 -325 -251 -532 -210
Purchase of Property, Plant & Equipment
-437 -455 -412 -296 -236 -326 -364 -297 -273 -284
Acquisitions
-115 0.00 -2.00 -731 0.00 -4.00 0.00 -3.00 -453 -6.00
Sale of Property, Plant & Equipment
12 20 15 8.00 10 25 26 14 16 30
Divestitures
395 0.00 0.00 0.00 1.00 120 1.00 2.00 3.00 29
Sale and/or Maturity of Investments
11 27 12 38 14 20 16 43 188 22
Other Investing Activities, net
-10 5.00 277 -3.00 -3.00 -18 -4.00 -10 -13 -1.00
Net Cash From Financing Activities
-3,189 -2,782 -3,000 -2,564 -2,049 -2,326 -3,964 -1,674 -2,255 -2,526
Net Cash From Continuing Financing Activities
-3,189 -2,782 -3,000 -2,564 -2,049 -2,326 -3,964 -1,674 -2,255 -2,526
Repayment of Debt
-1,652 -1,145 -330 -241 -30 -1,363 -862 -666 -539 -960
Repurchase of Common Equity
-1,500 -1,500 -1,750 -1,000 -706 -1,500 -2,000 -1,000 -2,000 -2,002
Payment of Dividends
-1,695 -1,615 -1,542 -1,463 -1,379 -1,321 -1,124 -941 -821 -742
Issuance of Debt
1,606 1,425 593 90 0.00 1,773 0.00 849 992 1,099
Issuance of Common Equity
52 53 29 50 66 85 22 84 84 59
Effect of Exchange Rate Changes
-65 3.00 -57 -46 39 -9.00 - 145 -133 -463
Cash Interest Paid
248 260 199 197 194 223 247 240 212 200
Cash Income Taxes Paid
1,180 1,026 993 731 591 742 838 1,018 920 775

Quarterly Cash Flow Statements for Illinois Tool Works

This table details how cash moves in and out of Illinois Tool Works' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
-75 1.00 85 -97 -106 75 68 -221 435 -66 -105
Net Cash From Operating Activities
592 1,114 891 687 589 1,039 982 790 728 811 713
Net Cash From Continuing Operating Activities
591 1,114 891 687 589 1,039 982 790 728 811 713
Net Income / (Loss) Continuing Operations
700 750 1,160 759 819 717 772 754 714 907 727
Consolidated Net Income / (Loss)
700 750 1,160 759 819 717 772 754 714 907 727
Depreciation Expense
74 77 78 74 72 74 70 70 68 67 69
Amortization Expense
21 25 26 25 25 25 27 30 31 32 33
Non-Cash Adjustments To Reconcile Net Income
18 15 -350 17 -102 13 28 13 17 -175 12
Changes in Operating Assets and Liabilities, net
-222 247 -23 -188 -225 210 85 -77 -102 -20 -128
Net Cash From Investing Activities
-92 -117 294 -169 -152 -120 -103 -69 -111 127 -91
Net Cash From Continuing Investing Activities
-92 -117 294 -169 -152 -120 -103 -69 -111 127 -91
Purchase of Property, Plant & Equipment
-96 -118 -108 -116 -95 -131 -126 -85 -113 -156 -101
Acquisitions
2.00 - - -58 -57 - - - 0.00 - -
Sale of Property, Plant & Equipment
3.00 2.00 5.00 3.00 2.00 9.00 6.00 2.00 3.00 7.00 3.00
Sale and/or Maturity of Investments
0.00 1.00 - 4.00 6.00 2.00 18 5.00 2.00 - 5.00
Other Investing Activities, net
-1.00 -2.00 2.00 -2.00 -8.00 - -1.00 9.00 -3.00 279 -1.00
Net Cash From Financing Activities
-588 -943 -1,121 -601 -524 -877 -788 -932 -185 -1,035 -681
Net Cash From Continuing Financing Activities
-588 -943 -1,121 -601 -524 -877 -788 -932 -185 -1,035 -681
Repayment of Debt
-18 -134 -333 -1,414 229 -85 -26 -1,591 557 -283 196
Repurchase of Common Equity
-375 -375 -375 -375 -375 -375 -375 -375 -375 -500 -500
Payment of Dividends
-441 -443 -415 -418 -419 -421 -396 -398 -400 -403 -377
Issuance of Debt
202 - - - - - - - - 139 -
Issuance of Common Equity
44 9.00 2.00 - 41 4.00 9.00 7.00 33 12 -
Other Net Changes in Cash
13 - - - - - - - - - -
Cash Interest Paid
53 32 57 83 76 44 75 79 62 29 57
Cash Income Taxes Paid
139 220 323 485 152 235 241 422 128 225 262

Annual Balance Sheets for Illinois Tool Works

This table presents Illinois Tool Works' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets
15,067 15,518 15,422 16,077 15,612 15,068 14,870 16,780 15,201 15,729
Total Current Assets
5,856 6,235 6,270 6,374 6,523 6,253 5,778 7,278 6,123 6,720
Cash & Equivalents
948 1,065 708 1,527 2,564 1,981 1,504 3,094 2,472 3,090
Accounts Receivable
2,991 3,123 3,171 2,840 2,506 2,461 2,622 2,628 2,357 2,203
Inventories, net
1,605 1,707 2,054 1,694 1,189 1,164 1,318 1,220 1,076 1,086
Prepaid Expenses
312 340 329 313 264 296 334 336 218 341
Plant, Property, & Equipment, net
2,036 1,976 1,848 1,809 1,777 1,729 1,791 1,778 1,652 1,577
Total Noncurrent Assets
7,175 7,307 7,304 7,894 7,312 7,086 7,301 7,724 7,426 7,432
Goodwill
4,839 4,909 4,864 4,965 4,690 4,492 4,633 4,752 4,558 4,439
Intangible Assets
592 657 768 972 781 851 1,084 1,272 1,463 1,560
Noncurrent Deferred & Refundable Income Taxes
369 479 494 552 533 516 554 505 449 346
Other Noncurrent Operating Assets
1,375 1,262 1,178 1,405 1,308 1,227 1,030 1,195 956 1,087
Total Liabilities & Shareholders' Equity
15,067 15,518 15,422 16,077 15,612 15,068 14,870 16,780 15,201 15,729
Total Liabilities
11,750 12,505 12,333 12,451 12,430 12,038 11,612 12,191 10,942 10,501
Total Current Liabilities
4,308 4,675 4,460 3,470 2,589 2,154 3,542 3,053 2,760 2,368
Short-Term Debt
1,555 1,825 1,590 778 350 4.00 1,351 850 652 526
Accounts Payable
519 581 594 585 534 472 524 590 511 449
Accrued Expenses
1,576 1,663 1,728 1,648 1,284 1,217 1,271 1,258 1,202 1,136
Dividends Payable
441 419 400 382 361 342 328 266 226 200
Current Deferred & Payable Income Tax Liabilities
217 187 147 77 60 48 68 89 169 57
Total Noncurrent Liabilities
7,442 7,830 7,873 8,981 9,841 9,884 8,070 9,138 8,182 8,133
Long-Term Debt
6,308 6,339 6,173 6,909 7,772 7,754 6,029 7,478 7,177 6,896
Noncurrent Deferred Revenue
0.00 151 273 365 413 462 495 614 0.00 -
Noncurrent Deferred & Payable Income Tax Liabilities
119 326 484 654 588 668 707 164 134 256
Other Noncurrent Operating Liabilities
1,015 1,014 943 1,053 1,068 1,000 839 882 871 981
Total Equity & Noncontrolling Interests
3,317 3,013 3,089 3,626 3,182 3,030 3,258 4,589 4,259 5,228
Total Preferred & Common Equity
3,316 3,012 3,088 3,625 3,181 3,026 3,254 4,585 4,254 5,224
Total Common Equity
3,316 3,012 3,088 3,625 3,181 3,026 3,254 4,585 4,254 5,224
Common Stock
1,675 1,594 1,507 1,438 1,368 1,310 1,259 1,224 1,194 1,141
Retained Earnings
28,893 27,122 25,799 24,325 23,114 22,403 21,217 20,210 19,505 18,316
Treasury Stock
-25,375 -23,870 - - -19,659 -18,982 -17,545 -15,562 -14,638 -12,729
Accumulated Other Comprehensive Income / (Loss)
-1,877 -1,834 -1,841 -1,502 -1,642 -1,705 -1,677 -1,287 -1,807 -1,504
Noncontrolling Interest
1.00 1.00 1.00 1.00 1.00 4.00 4.00 4.00 5.00 4.00

Quarterly Balance Sheets for Illinois Tool Works

This table presents Illinois Tool Works' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets
15,468 15,067 15,824 15,577 15,653 15,518 15,395 15,652 15,921 15,422 15,226
Total Current Assets
6,037 5,856 6,304 6,256 6,371 6,235 6,288 6,404 6,688 6,270 6,196
Cash & Equivalents
873 948 947 862 959 1,065 990 922 1,143 708 774
Accounts Receivable
3,153 2,991 3,226 3,250 3,238 3,123 3,163 3,216 3,201 3,171 3,031
Inventories, net
1,663 1,605 1,817 1,819 1,825 1,707 1,799 1,921 2,000 2,054 2,007
Prepaid Expenses
348 312 314 325 349 340 336 345 334 329 281
Plant, Property, & Equipment, net
2,085 2,036 2,071 2,011 1,973 1,976 1,904 1,901 1,885 1,848 1,705
Total Noncurrent Assets
7,346 7,175 7,449 7,310 7,309 7,307 7,203 7,347 7,348 7,304 7,325
Goodwill
4,903 4,839 4,980 4,910 4,904 4,909 4,828 4,887 4,884 4,864 4,759
Intangible Assets
572 592 617 641 653 657 682 708 738 768 798
Noncurrent Deferred & Refundable Income Taxes
440 369 468 448 462 479 455 500 503 494 448
Other Noncurrent Operating Assets
1,431 1,375 1,384 1,311 1,290 1,262 1,238 1,252 1,223 1,178 1,320
Total Liabilities & Shareholders' Equity
15,468 15,067 15,824 15,577 15,653 15,518 15,395 15,652 15,921 15,422 15,226
Total Liabilities
12,226 11,750 12,432 12,615 12,632 12,505 12,391 12,558 12,820 12,333 12,212
Total Current Liabilities
3,780 4,308 4,627 4,804 4,844 4,675 3,982 4,040 5,596 4,460 4,392
Short-Term Debt
981 1,555 1,768 2,044 2,066 1,825 1,248 1,275 2,870 1,590 1,688
Accounts Payable
594 519 556 576 597 581 580 590 599 594 618
Accrued Expenses
1,477 1,576 1,655 1,615 1,512 1,663 1,588 1,625 1,504 1,728 1,559
Dividends Payable
439 441 443 416 418 419 421 396 398 400 402
Current Deferred & Payable Income Tax Liabilities
289 217 205 153 251 187 145 154 224 147 97
Total Noncurrent Liabilities
8,446 7,442 7,805 7,811 7,788 7,830 8,409 8,518 7,224 7,873 7,820
Long-Term Debt
7,282 6,308 6,578 6,429 6,259 6,339 6,818 6,947 5,510 6,173 5,940
Noncurrent Deferred & Payable Income Tax Liabilities
127 119 129 381 380 326 464 451 477 484 655
Other Noncurrent Operating Liabilities
1,037 1,015 1,098 1,001 998 1,014 976 969 964 943 952
Total Equity & Noncontrolling Interests
3,242 3,317 3,392 2,962 3,021 3,013 3,004 3,094 3,101 3,089 3,014
Total Preferred & Common Equity
3,241 3,316 3,391 2,961 3,020 3,012 3,003 3,093 3,100 3,088 3,013
Total Common Equity
3,241 3,316 3,391 2,961 3,020 3,012 3,003 3,093 3,100 3,088 3,013
Common Stock
1,711 1,675 1,657 1,642 1,624 1,594 1,575 1,556 1,532 1,507 1,485
Retained Earnings
29,154 28,893 28,583 27,866 27,523 27,122 26,823 26,473 26,115 25,799 25,292
Treasury Stock
-25,746 -25,375 -25,000 -24,622 -24,243 -23,870 -23,493 - - - -
Accumulated Other Comprehensive Income / (Loss)
-1,878 -1,877 -1,849 -1,925 -1,884 -1,834 -1,902 -1,820 -1,804 -1,841 -1,882
Noncontrolling Interest
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00

Annual Metrics And Ratios for Illinois Tool Works

This table displays calculated financial ratios and metrics derived from Illinois Tool Works' official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics
- - - - - - - - - -
Revenue Growth
-1.30% 1.10% 10.22% 14.96% -10.88% -4.46% 3.17% 5.26% 1.45% -7.45%
EBITDA Growth
13.89% 0.65% 13.13% 18.01% -15.20% -4.30% 3.01% 10.43% 5.64% -0.98%
EBIT Growth
15.06% 1.09% 14.65% 21.24% -17.07% -3.89% 3.43% 12.24% 6.79% -0.14%
NOPAT Growth
7.63% 4.41% 6.27% 25.29% -13.82% -3.62% 50.53% -15.93% 6.80% -0.99%
Net Income Growth
17.96% -2.54% 12.62% 27.74% -16.34% -1.64% 51.93% -17.10% 7.16% -35.54%
EPS Growth
20.23% -0.31% 14.81% 28.36% -14.34% 1.84% 56.38% -14.74% 11.11% -29.53%
Operating Cash Flow Growth
-7.29% 50.72% -8.17% -8.91% -6.28% 6.55% 17.03% 4.34% 0.13% 42.26%
Free Cash Flow Firm Growth
2.89% 19.32% 50.00% -13.22% -37.03% -3.96% 114.94% -24.59% -23.30% 0.04%
Invested Capital Growth
1.35% -0.06% 3.63% 11.72% 2.62% -6.27% -6.21% 2.51% 0.84% -6.50%
Revenue Q/Q Growth
-0.32% 0.07% 1.87% 1.43% 0.05% -0.78% -0.33% 1.63% 0.92% -1.68%
EBITDA Q/Q Growth
1.13% -3.86% 8.03% -0.91% -0.18% -0.18% 0.34% 1.86% 2.67% -0.52%
EBIT Q/Q Growth
1.16% -4.22% 9.06% -0.98% -0.21% 0.09% 0.47% 2.11% 3.18% -0.64%
NOPAT Q/Q Growth
0.69% -1.22% 5.63% -1.65% 2.40% -0.15% 36.06% -24.86% 1.45% 0.02%
Net Income Q/Q Growth
0.96% -6.04% 10.89% -1.21% 0.05% 1.37% 36.33% -25.68% 2.88% 0.00%
EPS Q/Q Growth
1.30% -5.44% 11.53% -1.05% 0.61% 1.98% 36.94% -25.57% 4.01% 1.18%
Operating Cash Flow Q/Q Growth
2.34% 6.89% 1.60% 0.04% -0.04% -1.16% 4.23% 1.31% -1.67% 11.93%
Free Cash Flow Firm Q/Q Growth
23.55% 9.57% 26.25% -22.51% -9.61% 53.44% -7.23% 3.62% -34.88% 3.05%
Invested Capital Q/Q Growth
-4.99% 0.29% 3.35% 7.71% 3.02% 0.00% 13.41% 1.43% 8.74% -3.38%
Profitability Metrics
- - - - - - - - - -
Gross Margin
44.28% 42.16% 40.82% 41.27% 41.35% 41.97% 41.74% 41.97% 41.85% 41.16%
EBITDA Margin
32.12% 27.84% 27.96% 27.24% 26.54% 27.89% 27.84% 27.89% 26.58% 25.53%
Operating Margin
26.82% 25.08% 23.79% 24.05% 22.92% 24.11% 24.27% 24.35% 22.47% 21.39%
EBIT Margin
29.59% 25.39% 25.39% 24.41% 23.14% 24.87% 24.72% 24.66% 23.13% 21.97%
Profit (Net Income) Margin
21.94% 18.36% 19.04% 18.64% 16.77% 17.87% 17.36% 11.79% 14.96% 14.17%
Tax Burden Percent
78.88% 77.35% 78.97% 81.00% 78.00% 76.67% 75.52% 51.59% 69.98% 69.84%
Interest Burden Percent
93.99% 93.49% 94.98% 94.27% 92.92% 93.70% 92.96% 92.63% 92.46% 92.33%
Effective Tax Rate
21.12% 22.65% 21.03% 19.00% 22.00% 23.33% 24.48% 48.41% 30.02% 30.16%
Return on Invested Capital (ROIC)
31.72% 29.66% 28.91% 29.23% 25.02% 28.46% 27.69% 18.04% 21.82% 19.83%
ROIC Less NNEP Spread (ROIC-NNEP)
33.40% 27.42% 29.50% 27.27% 22.66% 27.01% 25.23% 16.04% 19.77% 17.29%
Return on Net Nonoperating Assets (RNNOA)
78.48% 67.25% 61.45% 49.91% 42.88% 51.73% 37.64% 20.09% 21.08% 11.69%
Return on Equity (ROE)
110.21% 96.92% 90.36% 79.14% 67.90% 80.18% 65.32% 38.13% 42.90% 31.51%
Cash Return on Invested Capital (CROIC)
30.38% 29.72% 25.35% 18.16% 22.44% 34.93% 34.10% 15.56% 20.98% 26.55%
Operating Return on Assets (OROA)
30.77% 26.43% 25.68% 22.27% 18.97% 23.44% 23.07% 22.08% 20.34% 17.74%
Return on Assets (ROA)
22.81% 19.11% 19.26% 17.00% 13.75% 16.84% 16.20% 10.55% 13.16% 11.44%
Return on Common Equity (ROCE)
110.17% 96.89% 90.34% 79.12% 67.85% 80.08% 65.26% 38.09% 42.86% 31.49%
Return on Equity Simple (ROE_SIMPLE)
105.19% 98.17% 98.25% 74.32% 66.30% 83.31% 78.76% 36.79% 47.84% 36.35%
Net Operating Profit after Tax (NOPAT)
3,363 3,125 2,993 2,816 2,248 2,608 2,706 1,798 2,139 2,002
NOPAT Margin
21.16% 19.40% 18.79% 19.48% 17.88% 18.49% 18.33% 12.56% 15.73% 14.94%
Net Nonoperating Expense Percent (NNEP)
-1.68% 2.24% -0.59% 1.96% 2.36% 1.45% 2.45% 2.00% 2.05% 2.54%
Return On Investment Capital (ROIC_SIMPLE)
30.08% 27.96% 27.58% - - - - - - -
Cost of Revenue to Revenue
55.72% 57.84% 59.18% 58.73% 58.65% 58.03% 58.26% 58.03% 58.15% 58.84%
SG&A Expenses to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue
16.83% 16.38% 16.19% 16.30% 17.20% 16.73% 16.19% 16.85% 17.73% 18.03%
Operating Expenses to Revenue
17.46% 17.08% 17.03% 17.22% 18.43% 17.86% 17.47% 17.63% 19.38% 19.77%
Earnings before Interest and Taxes (EBIT)
4,705 4,089 4,045 3,528 2,910 3,509 3,651 3,530 3,145 2,945
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
5,107 4,484 4,455 3,938 3,337 3,935 4,112 3,992 3,615 3,422
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
22.58 25.58 21.06 20.38 18.95 17.38 11.46 10.78 8.57 5.35
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
4.71 4.78 4.08 5.11 4.79 3.73 2.52 3.45 2.68 2.08
Price to Earnings (P/E)
21.47 26.05 21.44 27.43 28.58 20.86 14.54 29.29 17.91 14.72
Dividend Yield
2.29% 2.08% 2.39% 2.01% 2.32% 2.53% 3.17% 1.98% 2.31% 2.69%
Earnings Yield
4.66% 3.84% 4.66% 3.65% 3.50% 4.79% 6.88% 3.41% 5.58% 6.80%
Enterprise Value to Invested Capital (EV/IC)
7.66 7.99 6.84 7.87 7.23 6.58 4.56 5.42 4.25 3.31
Enterprise Value to Revenue (EV/Rev)
5.14 5.22 4.53 5.54 5.24 4.14 2.92 3.82 3.07 2.41
Enterprise Value to EBITDA (EV/EBITDA)
16.02 18.76 16.18 20.33 19.73 14.83 10.50 13.69 11.56 9.43
Enterprise Value to EBIT (EV/EBIT)
17.38 20.58 17.82 22.69 22.63 16.63 11.82 15.48 13.29 10.96
Enterprise Value to NOPAT (EV/NOPAT)
24.32 26.93 24.09 28.42 29.29 22.37 15.95 30.40 19.55 16.12
Enterprise Value to Operating Cash Flow (EV/OCF)
24.93 23.77 30.71 31.30 23.46 19.49 15.35 22.75 18.16 14.04
Enterprise Value to Free Cash Flow (EV/FCFF)
25.39 26.87 27.48 45.76 32.66 18.23 12.95 35.24 20.33 12.04
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
2.37 2.71 2.51 2.12 2.55 2.56 2.27 1.81 1.84 1.42
Long-Term Debt to Equity
1.90 2.10 2.00 1.91 2.44 2.56 1.85 1.63 1.69 1.32
Financial Leverage
2.35 2.45 2.08 1.83 1.89 1.92 1.49 1.25 1.07 0.68
Leverage Ratio
4.83 5.07 4.69 4.65 4.94 4.76 4.03 3.61 3.26 2.75
Compound Leverage Factor
4.54 4.74 4.46 4.39 4.59 4.46 3.75 3.35 3.01 2.54
Debt to Total Capital
70.33% 73.04% 71.54% 67.95% 71.85% 71.91% 69.37% 64.47% 64.77% 58.67%
Short-Term Debt to Total Capital
13.91% 16.33% 14.65% 6.88% 3.10% 0.04% 12.70% 6.58% 5.39% 4.16%
Long-Term Debt to Total Capital
56.42% 56.71% 56.88% 61.07% 68.75% 71.88% 56.67% 57.89% 59.37% 54.51%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.01% 0.01% 0.01% 0.01% 0.01% 0.04% 0.04% 0.03% 0.04% 0.03%
Common Equity to Total Capital
29.66% 26.95% 28.46% 32.04% 28.14% 28.05% 30.59% 35.50% 35.19% 41.30%
Debt to EBITDA
1.54 1.82 1.74 1.95 2.43 1.97 1.79 2.09 2.17 2.17
Net Debt to EBITDA
1.35 1.58 1.58 1.56 1.67 1.47 1.43 1.31 1.48 1.27
Long-Term Debt to EBITDA
1.24 1.41 1.39 1.75 2.33 1.97 1.47 1.87 1.99 2.02
Debt to NOPAT
2.34 2.61 2.59 2.73 3.61 2.97 2.73 4.63 3.66 3.71
Net Debt to NOPAT
2.06 2.27 2.36 2.19 2.47 2.21 2.17 2.91 2.50 2.16
Long-Term Debt to NOPAT
1.88 2.03 2.06 2.45 3.46 2.97 2.23 4.16 3.36 3.44
Altman Z-Score
8.72 8.17 7.55 7.52 6.71 6.73 5.91 5.97 5.64 5.03
Noncontrolling Interest Sharing Ratio
0.03% 0.03% 0.03% 0.03% 0.08% 0.13% 0.10% 0.10% 0.09% 0.07%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.36 1.33 1.41 1.84 2.52 2.90 1.63 2.38 2.22 2.84
Quick Ratio
0.91 0.90 0.87 1.26 1.96 2.06 1.16 1.87 1.75 2.24
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
3,221 3,131 2,624 1,749 2,016 3,201 3,333 1,551 2,057 2,681
Operating Cash Flow to CapEx
772.00% 813.56% 591.44% 887.85% 1,242.04% 995.02% 831.66% 848.76% 895.72% 905.12%
Free Cash Flow to Firm to Interest Expense
11.38 11.77 12.93 8.66 9.79 14.49 12.97 5.97 8.68 11.86
Operating Cash Flow to Interest Expense
11.59 13.30 11.57 12.66 13.63 13.55 10.94 9.24 9.71 10.17
Operating Cash Flow Less CapEx to Interest Expense
10.09 11.67 9.61 11.23 12.53 12.19 9.62 8.15 8.63 9.05
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
1.04 1.04 1.01 0.91 0.82 0.94 0.93 0.90 0.88 0.81
Accounts Receivable Turnover
5.20 5.12 5.30 5.41 5.06 5.55 5.63 5.74 5.96 5.96
Inventory Turnover
5.35 4.95 5.03 5.89 6.27 6.60 6.78 7.24 7.32 6.96
Fixed Asset Turnover
7.93 8.42 8.71 8.06 7.17 8.02 8.28 8.35 8.42 8.22
Accounts Payable Turnover
16.11 15.86 15.99 15.17 14.66 16.44 15.45 15.09 16.48 16.42
Days Sales Outstanding (DSO)
70.19 71.31 68.86 67.50 72.09 65.75 64.88 63.56 61.20 61.21
Days Inventory Outstanding (DIO)
68.24 73.68 72.54 61.98 58.23 55.33 53.83 50.45 49.89 52.43
Days Payable Outstanding (DPO)
22.66 23.02 22.82 24.06 24.89 22.20 23.63 24.19 22.15 22.23
Cash Conversion Cycle (CCC)
115.76 121.97 118.58 105.42 105.42 98.87 95.08 89.81 88.94 91.40
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
10,673 10,531 10,537 10,168 9,101 8,869 9,462 10,089 9,842 9,760
Invested Capital Turnover
1.50 1.53 1.54 1.50 1.40 1.54 1.51 1.44 1.39 1.33
Increase / (Decrease) in Invested Capital
142 -6.00 369 1,067 232 -593 -627 247 82 -679
Enterprise Value (EV)
81,792 84,137 72,100 80,046 65,841 58,358 43,158 54,651 41,803 32,283
Market Capitalization
74,876 77,037 65,044 73,885 60,282 52,577 37,278 49,413 36,441 27,947
Book Value per Share
$11.23 $10.01 $10.05 $11.55 $10.05 $9.41 $9.81 $13.38 $12.12 $14.37
Tangible Book Value per Share
($7.16) ($8.49) ($8.28) ($7.37) ($7.23) ($7.21) ($7.42) ($4.20) ($5.03) ($2.13)
Total Capital
11,180 11,177 10,852 11,313 11,304 10,788 10,638 12,917 12,088 12,650
Total Debt
7,863 8,164 7,763 7,687 8,122 7,758 7,380 8,328 7,829 7,422
Total Long-Term Debt
6,308 6,339 6,173 6,909 7,772 7,754 6,029 7,478 7,177 6,896
Net Debt
6,915 7,099 7,055 6,160 5,558 5,777 5,876 5,234 5,357 4,332
Capital Expenditures (CapEx)
425 435 397 288 226 301 338 283 257 254
Debt-free, Cash-free Net Working Capital (DFCFNWC)
2,155 2,320 2,692 2,155 1,720 2,122 2,083 1,981 1,543 1,788
Debt-free Net Working Capital (DFNWC)
3,103 3,385 3,400 3,682 4,284 4,103 3,587 5,075 4,015 4,878
Net Working Capital (NWC)
1,548 1,560 1,810 2,904 3,934 4,099 2,236 4,225 3,363 4,352
Net Nonoperating Expense (NNE)
-125 168 -41 122 139 87 143 111 104 103
Net Nonoperating Obligations (NNO)
7,356 7,518 7,448 6,542 5,919 5,839 6,204 5,500 5,583 4,532
Total Depreciation and Amortization (D&A)
402 395 410 410 427 426 461 462 470 477
Debt-free, Cash-free Net Working Capital to Revenue
13.56% 14.40% 16.90% 14.91% 13.68% 15.04% 14.10% 13.84% 11.35% 13.34%
Debt-free Net Working Capital to Revenue
19.52% 21.02% 21.34% 25.47% 34.07% 29.08% 24.29% 35.45% 29.52% 36.39%
Net Working Capital to Revenue
9.74% 9.69% 11.36% 20.09% 31.29% 29.05% 15.14% 29.52% 24.73% 32.47%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$11.75 $9.77 $9.80 $8.55 $6.66 $7.78 $0.00 $0.00 $5.73 $0.00
Adjusted Weighted Average Basic Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 0.00 0.00 346.55M 0.00
Adjusted Diluted Earnings per Share
$11.71 $9.74 $9.77 $8.51 $6.63 $7.74 $0.00 $0.00 $5.70 $0.00
Adjusted Weighted Average Diluted Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 0.00 0.00 346.55M 0.00
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
293.50M 298.80M 305.07M 312.93M 316.66M 318.86M 0.00 0.00 346.55M 0.00
Normalized Net Operating Profit after Tax (NOPAT)
3,363 3,125 2,993 2,816 2,248 2,608 2,706 1,749 2,139 2,002
Normalized NOPAT Margin
21.16% 19.40% 18.79% 19.48% 17.88% 18.49% 18.33% 12.22% 15.73% 14.94%
Pre Tax Income Margin
27.81% 23.74% 24.12% 23.01% 21.50% 23.30% 22.98% 22.84% 21.38% 20.28%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
16.63 15.37 19.93 17.47 14.13 15.88 14.21 13.58 13.27 13.03
NOPAT to Interest Expense
11.88 11.75 14.74 13.94 10.91 11.80 10.53 6.92 9.02 8.86
EBIT Less CapEx to Interest Expense
15.12 13.74 17.97 16.04 13.03 14.52 12.89 12.49 12.19 11.91
NOPAT Less CapEx to Interest Expense
10.38 10.11 12.79 12.52 9.81 10.44 9.22 5.83 7.94 7.74
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
48.60% 54.62% 50.82% 54.31% 65.39% 52.40% 43.85% 55.78% 40.34% 39.07%
Augmented Payout Ratio
91.60% 105.34% 108.50% 91.43% 98.86% 111.90% 121.89% 115.06% 138.62% 144.50%

Quarterly Metrics And Ratios for Illinois Tool Works

This table displays calculated financial ratios and metrics derived from Illinois Tool Works' official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-3.37% -1.28% -1.61% -1.15% -1.14% 0.30% 0.50% 1.57% 2.03% 7.94% 12.80%
EBITDA Growth
-14.68% 5.20% 30.42% 4.34% 14.71% -14.11% 5.94% 7.31% 6.50% 35.03% 15.85%
EBIT Growth
-15.75% 5.42% 32.50% 4.85% 16.40% -15.29% 7.04% 8.42% 8.03% 39.95% 18.01%
NOPAT Growth
-13.61% 2.94% 9.88% 0.45% 14.39% -4.21% 9.20% 4.71% 9.38% 24.40% 11.47%
Net Income Growth
-14.53% 4.60% 50.26% 0.66% 14.71% -20.95% 6.19% 2.17% 7.86% 48.93% 13.77%
EPS Growth
-12.82% 6.30% 53.33% 2.42% 17.17% -19.05% 8.51% 4.64% 10.43% 52.33% 16.34%
Operating Cash Flow Growth
0.51% 7.22% -9.27% -13.04% -19.09% 28.11% 37.73% 57.68% 125.39% 4.78% 15.19%
Free Cash Flow Firm Growth
-38.98% -16.30% -68.01% 33.43% 42.44% 79.63% 6,276.00% 304.12% 174.81% 200.72% -112.90%
Invested Capital Growth
2.46% 1.35% 6.98% 1.84% 0.73% -0.06% 3.00% 3.30% 1.93% 3.63% 8.00%
Revenue Q/Q Growth
-2.37% -0.86% -1.51% 1.36% -0.25% -1.19% -1.06% 1.37% 1.21% -1.00% 0.00%
EBITDA Q/Q Growth
-8.24% -24.89% 30.20% -4.92% 13.14% -6.88% 4.16% 4.53% -15.28% 14.85% 5.51%
EBIT Q/Q Growth
-8.37% -26.55% 32.50% -5.51% 14.64% -7.69% 4.85% 4.89% -16.57% 16.65% 6.21%
NOPAT Q/Q Growth
-5.44% -12.21% 12.56% -7.55% 12.67% -6.29% 2.90% 5.28% -5.65% 6.83% -1.33%
Net Income Q/Q Growth
-6.67% -35.34% 52.83% -7.33% 14.23% -7.12% 2.39% 5.60% -21.28% 24.76% -1.49%
EPS Q/Q Growth
-5.93% -35.29% 53.94% -6.96% 14.71% -6.67% 2.82% 6.44% -20.75% 25.11% -0.84%
Operating Cash Flow Q/Q Growth
-46.86% 25.03% 29.69% 16.64% -43.31% 5.80% 24.30% 8.52% -10.23% 13.74% 42.32%
Free Cash Flow Firm Q/Q Growth
-25.88% 295.53% -72.70% -23.76% 1.67% 51.18% 13.86% -18.60% 28.21% 5,298.05% 96.24%
Invested Capital Q/Q Growth
3.73% -4.99% 2.23% 1.70% 2.60% 0.29% -2.68% 0.59% 1.80% 3.35% -2.39%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
43.71% 43.51% 43.77% 43.83% 46.01% 41.95% 42.47% 42.46% 41.75% 41.85% 40.89%
EBITDA Margin
27.56% 29.32% 38.70% 29.28% 31.21% 27.52% 29.20% 27.74% 26.90% 32.13% 27.70%
Operating Margin
24.77% 26.22% 26.53% 26.17% 28.37% 24.81% 26.54% 24.79% 24.19% 24.83% 24.51%
EBIT Margin
25.08% 26.73% 36.08% 26.82% 28.77% 25.03% 26.79% 25.28% 24.43% 29.64% 25.16%
Profit (Net Income) Margin
18.23% 19.07% 29.25% 18.85% 20.61% 18.00% 19.15% 18.51% 17.77% 22.84% 18.13%
Tax Burden Percent
78.21% 76.30% 85.17% 75.52% 76.40% 77.35% 76.21% 78.46% 77.44% 80.91% 75.97%
Interest Burden Percent
92.94% 93.53% 95.18% 93.06% 93.79% 92.98% 93.80% 93.30% 93.89% 95.24% 94.85%
Effective Tax Rate
21.79% 23.70% 14.83% 24.48% 23.60% 22.65% 23.79% 21.54% 22.56% 19.09% 24.03%
Return on Invested Capital (ROIC)
27.92% 30.00% 33.15% 29.07% 32.33% 29.34% 31.46% 29.45% 28.22% 30.92% 29.66%
ROIC Less NNEP Spread (ROIC-NNEP)
27.36% 29.51% 36.60% 28.60% 31.79% 28.71% 30.87% 28.93% 27.69% 32.48% 29.36%
Return on Net Nonoperating Assets (RNNOA)
68.21% 69.33% 87.77% 74.25% 80.01% 70.41% 75.30% 65.97% 60.36% 67.67% 59.23%
Return on Equity (ROE)
96.13% 99.33% 120.92% 103.32% 112.34% 99.74% 106.76% 95.42% 88.59% 98.58% 88.89%
Cash Return on Invested Capital (CROIC)
27.23% 30.38% 23.99% 27.89% 29.31% 29.72% 27.61% 25.89% 26.87% 25.35% 21.17%
Operating Return on Assets (OROA)
25.41% 27.79% 36.87% 27.51% 29.27% 26.06% 28.17% 25.95% 24.30% 29.98% 25.60%
Return on Assets (ROA)
18.47% 19.83% 29.88% 19.33% 20.97% 18.74% 20.13% 19.00% 17.66% 23.11% 18.44%
Return on Common Equity (ROCE)
96.10% 99.30% 120.89% 103.28% 112.30% 99.71% 106.73% 95.39% 88.56% 98.55% 88.86%
Return on Equity Simple (ROE_SIMPLE)
103.95% 0.00% 101.89% 103.58% 101.39% 0.00% 104.80% 100.29% 99.55% 0.00% 90.81%
Net Operating Profit after Tax (NOPAT)
744 787 896 796 861 764 815 792 753 798 747
NOPAT Margin
19.37% 20.01% 22.59% 19.77% 21.67% 19.19% 20.23% 19.45% 18.73% 20.09% 18.62%
Net Nonoperating Expense Percent (NNEP)
0.56% 0.49% -3.44% 0.47% 0.55% 0.63% 0.59% 0.52% 0.53% -1.56% 0.30%
Return On Investment Capital (ROIC_SIMPLE)
6.47% 7.04% - - - 6.84% - - - 7.35% -
Cost of Revenue to Revenue
56.29% 56.49% 56.23% 56.17% 53.99% 58.05% 57.53% 57.54% 58.25% 58.15% 59.11%
SG&A Expenses to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue
18.39% 16.66% 16.59% 17.04% 17.01% 16.52% 15.26% 16.94% 16.80% 16.22% 15.56%
Operating Expenses to Revenue
18.94% 17.29% 17.25% 17.66% 17.64% 17.15% 15.93% 17.67% 17.57% 17.02% 16.38%
Earnings before Interest and Taxes (EBIT)
963 1,051 1,431 1,080 1,143 997 1,080 1,030 982 1,177 1,009
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
1,058 1,153 1,535 1,179 1,240 1,096 1,177 1,130 1,081 1,276 1,111
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
22.46 22.58 22.95 23.88 26.73 25.58 22.80 24.16 23.56 21.06 18.05
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
4.62 4.71 4.88 4.42 5.03 4.78 4.25 4.65 4.56 4.08 3.48
Price to Earnings (P/E)
21.61 21.47 22.52 23.05 26.37 26.05 21.76 24.09 23.67 21.44 19.88
Dividend Yield
2.38% 2.29% 1.64% 1.77% 1.53% 2.08% 2.35% 2.13% 2.15% 2.39% 2.83%
Earnings Yield
4.63% 4.66% 4.44% 4.34% 3.79% 3.84% 4.60% 4.15% 4.22% 4.66% 5.03%
Enterprise Value to Invested Capital (EV/IC)
7.24 7.66 7.58 7.13 8.15 7.99 7.19 7.60 7.48 6.84 6.01
Enterprise Value to Revenue (EV/Rev)
5.09 5.14 5.34 4.89 5.49 5.22 4.69 5.10 5.01 4.53 3.92
Enterprise Value to EBITDA (EV/EBITDA)
16.28 16.02 16.87 16.69 18.98 18.76 16.20 17.84 17.76 16.18 14.85
Enterprise Value to EBIT (EV/EBIT)
17.72 17.38 18.32 18.21 20.73 20.58 17.70 19.54 19.50 17.82 16.51
Enterprise Value to NOPAT (EV/NOPAT)
24.71 24.32 25.51 24.20 27.25 26.93 23.88 26.51 26.26 24.09 21.61
Enterprise Value to Operating Cash Flow (EV/OCF)
24.42 24.93 26.58 23.76 25.91 23.77 22.82 26.96 29.16 30.71 26.50
Enterprise Value to Free Cash Flow (EV/FCFF)
26.92 25.39 32.68 25.78 27.92 26.87 26.44 29.84 28.12 27.48 29.47
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
2.55 2.37 2.46 2.86 2.76 2.71 2.69 2.66 2.70 2.51 2.53
Long-Term Debt to Equity
2.25 1.90 1.94 2.17 2.07 2.10 2.27 2.25 1.78 2.00 1.97
Financial Leverage
2.49 2.35 2.40 2.60 2.52 2.45 2.44 2.28 2.18 2.08 2.02
Leverage Ratio
4.97 4.83 4.88 5.16 5.16 5.07 5.09 4.84 4.82 4.69 4.72
Compound Leverage Factor
4.62 4.52 4.65 4.80 4.84 4.71 4.77 4.51 4.52 4.47 4.48
Debt to Total Capital
71.82% 70.33% 71.10% 74.10% 73.37% 73.04% 72.86% 72.66% 72.99% 71.54% 71.68%
Short-Term Debt to Total Capital
8.53% 13.91% 15.06% 17.87% 18.21% 16.33% 11.27% 11.27% 25.00% 14.65% 15.86%
Long-Term Debt to Total Capital
63.29% 56.42% 56.04% 56.22% 55.16% 56.71% 61.59% 61.39% 47.99% 56.88% 55.82%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
Common Equity to Total Capital
28.17% 29.66% 28.89% 25.89% 26.62% 26.95% 27.13% 27.33% 27.00% 28.46% 28.31%
Debt to EBITDA
1.68 1.54 1.65 1.81 1.79 1.82 1.73 1.79 1.85 1.74 1.85
Net Debt to EBITDA
1.50 1.35 1.47 1.62 1.59 1.58 1.52 1.59 1.60 1.58 1.66
Long-Term Debt to EBITDA
1.48 1.24 1.30 1.37 1.35 1.41 1.46 1.51 1.22 1.39 1.44
Debt to NOPAT
2.55 2.34 2.50 2.62 2.57 2.61 2.55 2.66 2.74 2.59 2.69
Net Debt to NOPAT
2.28 2.06 2.22 2.35 2.28 2.27 2.24 2.36 2.37 2.36 2.42
Long-Term Debt to NOPAT
2.24 1.88 1.97 1.99 1.94 2.03 2.16 2.25 1.80 2.06 2.10
Altman Z-Score
7.61 7.92 7.72 7.24 7.68 7.51 7.21 7.36 7.01 6.93 6.39
Noncontrolling Interest Sharing Ratio
0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.60 1.36 1.36 1.30 1.32 1.33 1.58 1.59 1.20 1.41 1.41
Quick Ratio
1.07 0.91 0.90 0.86 0.87 0.90 1.04 1.02 0.78 0.87 0.87
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
478 645 163 597 783 770 509 447 550 429 -8.25
Operating Cash Flow to CapEx
636.56% 960.34% 865.05% 607.96% 633.33% 851.64% 818.33% 951.81% 661.82% 544.30% 727.55%
Free Cash Flow to Firm to Interest Expense
7.03 9.48 2.36 7.96 11.03 11.00 7.60 6.48 9.16 7.66 -0.16
Operating Cash Flow to Interest Expense
8.71 16.38 12.91 9.16 8.30 14.84 14.66 11.45 12.13 14.48 13.71
Operating Cash Flow Less CapEx to Interest Expense
7.34 14.68 11.42 7.65 6.99 13.10 12.87 10.25 10.30 11.82 11.83
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
1.01 1.04 1.02 1.03 1.02 1.04 1.05 1.03 0.99 1.01 1.02
Accounts Receivable Turnover
4.93 5.20 4.99 4.95 4.99 5.12 5.20 5.08 5.06 5.30 5.43
Inventory Turnover
5.09 5.35 4.95 4.83 4.77 4.95 4.89 4.81 4.85 5.03 5.27
Fixed Asset Turnover
7.77 7.93 8.02 8.19 8.33 8.42 8.92 8.84 8.70 8.71 9.07
Accounts Payable Turnover
14.90 16.11 15.76 15.50 15.25 15.86 15.55 14.76 14.54 15.99 15.74
Days Sales Outstanding (DSO)
73.99 70.19 73.11 73.69 73.17 71.31 70.23 71.81 72.11 68.86 67.21
Days Inventory Outstanding (DIO)
71.73 68.24 73.74 75.52 76.54 73.68 74.58 75.92 75.28 72.54 69.21
Days Payable Outstanding (DPO)
24.49 22.66 23.17 23.54 23.93 23.02 23.48 24.73 25.11 22.82 23.19
Cash Conversion Cycle (CCC)
121.23 115.76 123.68 125.66 125.77 121.97 121.34 123.00 122.29 118.58 113.23
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
11,071 10,673 11,234 10,989 10,805 10,531 10,501 10,790 10,727 10,537 10,195
Invested Capital Turnover
1.44 1.50 1.47 1.47 1.49 1.53 1.56 1.51 1.51 1.54 1.59
Increase / (Decrease) in Invested Capital
266 142 733 199 78 -6.00 306 345 203 369 755
Enterprise Value (EV)
80,182 81,792 85,209 78,321 88,104 84,137 75,553 82,026 80,282 72,100 61,240
Market Capitalization
72,791 74,876 77,809 70,709 80,737 77,037 68,476 74,725 73,044 65,044 54,385
Book Value per Share
$11.04 $11.23 $11.42 $9.92 $10.10 $10.01 $9.93 $10.18 $10.16 $10.05 $9.73
Tangible Book Value per Share
($7.61) ($7.16) ($7.43) ($8.68) ($8.49) ($8.49) ($8.29) ($8.23) ($8.27) ($8.28) ($8.22)
Total Capital
11,505 11,180 11,738 11,435 11,346 11,177 11,070 11,316 11,481 10,852 10,642
Total Debt
8,263 7,863 8,346 8,473 8,325 8,164 8,066 8,222 8,380 7,763 7,628
Total Long-Term Debt
7,282 6,308 6,578 6,429 6,259 6,339 6,818 6,947 5,510 6,173 5,940
Net Debt
7,390 6,915 7,399 7,611 7,366 7,099 7,076 7,300 7,237 7,055 6,854
Capital Expenditures (CapEx)
93 116 103 113 93 122 120 83 110 149 98
Debt-free, Cash-free Net Working Capital (DFCFNWC)
2,365 2,155 2,498 2,634 2,634 2,320 2,564 2,717 2,819 2,692 2,718
Debt-free Net Working Capital (DFNWC)
3,238 3,103 3,445 3,496 3,593 3,385 3,554 3,639 3,962 3,400 3,492
Net Working Capital (NWC)
2,257 1,548 1,677 1,452 1,527 1,560 2,306 2,364 1,092 1,810 1,804
Net Nonoperating Expense (NNE)
44 37 -264 37 42 47 43 38 39 -109 20
Net Nonoperating Obligations (NNO)
7,829 7,356 7,842 8,027 7,784 7,518 7,497 7,696 7,626 7,448 7,181
Total Depreciation and Amortization (D&A)
95 102 104 99 97 99 97 100 99 99 102
Debt-free, Cash-free Net Working Capital to Revenue
15.00% 13.56% 15.66% 16.45% 16.40% 14.40% 15.93% 16.90% 17.61% 16.90% 17.38%
Debt-free Net Working Capital to Revenue
20.54% 19.52% 21.60% 21.83% 22.37% 21.02% 22.08% 22.64% 24.74% 21.34% 22.33%
Net Working Capital to Revenue
14.32% 9.74% 10.51% 9.07% 9.51% 9.69% 14.33% 14.71% 6.82% 11.36% 11.53%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$2.39 $2.54 $3.92 $2.55 $2.74 $2.39 $2.55 $2.49 $2.34 $2.95 $2.36
Adjusted Weighted Average Basic Shares Outstanding
293.60M 293.50M 296.10M 297.60M 298.90M 298.80M 301.90M 303.30M 305M 305.07M 308.80M
Adjusted Diluted Earnings per Share
$2.38 $2.53 $3.91 $2.54 $2.73 $2.38 $2.55 $2.48 $2.33 $2.94 $2.35
Adjusted Weighted Average Diluted Shares Outstanding
294.50M 293.50M 297M 298.50M 300M 298.80M 303M 304.20M 306.10M 305.07M 309.70M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
293M 293.50M 295.30M 296.90M 298.40M 298.80M 300.89M 302.39M 303.90M 305.07M 307.19M
Normalized Net Operating Profit after Tax (NOPAT)
744 787 896 796 861 764 815 792 753 798 747
Normalized NOPAT Margin
19.37% 20.01% 22.59% 19.77% 21.67% 19.19% 20.23% 19.45% 18.73% 20.09% 18.62%
Pre Tax Income Margin
23.31% 25.00% 34.34% 24.96% 26.98% 23.27% 25.13% 23.59% 22.94% 28.23% 23.86%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
14.16 15.46 20.74 14.40 16.10 14.24 16.12 14.93 16.37 21.02 19.40
NOPAT to Interest Expense
10.94 11.57 12.99 10.61 12.13 10.92 12.17 11.48 12.55 14.25 14.36
EBIT Less CapEx to Interest Expense
12.79 13.75 19.25 12.89 14.79 12.50 14.33 13.72 14.53 18.36 17.52
NOPAT Less CapEx to Interest Expense
9.57 9.86 11.49 9.11 10.82 9.17 10.38 10.28 10.71 11.59 12.48
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
50.96% 48.60% 48.42% 53.93% 53.36% 54.62% 50.75% 50.87% 50.55% 50.82% 55.63%
Augmented Payout Ratio
95.49% 91.60% 91.84% 102.84% 102.35% 105.34% 102.38% 107.29% 107.26% 108.50% 110.45%

Frequently Asked Questions About Illinois Tool Works' Financials

When does Illinois Tool Works's financial year end?

According to the most recent income statement we have on file, Illinois Tool Works' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Illinois Tool Works' net income changed over the last 9 years?

Illinois Tool Works' net income appears to be on an upward trend, with a most recent value of $3.49 billion in 2024, rising from $1.90 billion in 2015. The previous period was $2.96 billion in 2023. Check out Illinois Tool Works' forecast to explore projected trends and price targets.

What is Illinois Tool Works's operating income?
Illinois Tool Works's total operating income in 2024 was $4.26 billion, based on the following breakdown:
  • Total Gross Profit: $7.04 billion
  • Total Operating Expenses: $2.78 billion
How has Illinois Tool Works revenue changed over the last 9 years?

Over the last 9 years, Illinois Tool Works' total revenue changed from $13.41 billion in 2015 to $15.90 billion in 2024, a change of 18.6%.

How much debt does Illinois Tool Works have?

Illinois Tool Works' total liabilities were at $11.75 billion at the end of 2024, a 6.0% decrease from 2023, and a 11.9% increase since 2015.

How much cash does Illinois Tool Works have?

In the past 9 years, Illinois Tool Works' cash and equivalents has ranged from $708 million in 2022 to $3.09 billion in 2017, and is currently $948 million as of their latest financial filing in 2024.

How has Illinois Tool Works' book value per share changed over the last 9 years?

Over the last 9 years, Illinois Tool Works' book value per share changed from 14.37 in 2015 to 11.23 in 2024, a change of -21.9%.



This page (NYSE:ITW) was last updated on 5/29/2025 by MarketBeat.com Staff
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