ITW
Illinois Tool Works Inc.Stock · IndustrialsS&P 500 Equal Weight 0.2% · Russell 1000 0.1% · S&P 500 0.1% · Russell 3000 0.1% · US Stock Market 0.1% · MSCI World 0.07% · MSCI ACWI 0.07%$268.16+1.12%
as of market close, Sep 11, 2026
☾ AH — —
ITW financial statements
The full income statement, balance sheet, and cash-flow statement for Illinois Tool Works Inc. (ITW), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 296.9M2024-09 295.3M2024-12 293.5M2025-03 293.0M2025-06 291.5M2025-09 290.1M2025-12 288.2M2026-03 287.7M2026-06 284.8M-4.1% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 16.0B+0.9% | 15.9B-1.3% | 16.1B+1.1% | 15.9B+10.2% | 14.5B+15.0% | |
| Cost of revenue | 7.56B-0.6% | 7.60B-4.3% | 7.94B-2.4% | 8.14B-4.2% | 8.49B+15.1% | |
| Research & development | 302M+3.4% | 292M+2.8% | 284M+5.6% | 269M+12.6% | 239M+11.7% | |
| Provision for credit losses | 5.00M+600.0% | -1.00M-116.7% | 6.00M+20.0% | 5.00M+66.7% | 3.00M-57.1% | |
| Operating income | 4.22B-1.1% | 4.26B+5.5% | 4.04B+6.6% | 3.79B+9.0% | 3.48B+20.6% | |
| Interest expense | 292M+3.2% | 283M+6.4% | 266M+31.0% | 203M+0.5% | 202M-1.9% | |
| Interest & investment income | 40.0M-9.1% | 44.0M-13.7% | 51.0M+131.8% | 22.0M+83.3% | 12.0M-29.4% | |
| Other non-operating income | -5.00M-400.0% | -1.00M-200.0% | 1.00M+200.0% | -1.00M+75.0% | -4.00M+20.0% | |
| Equity-method income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Pre-tax income | — | — | 3.82B-0.5% | 3.84B+15.5% | 3.33B+23.0% | |
| Income tax | 900M-3.6% | 934M+7.9% | 866M+7.2% | 808M+27.8% | 632M+6.2% | |
| Net income | 3.07B-12.1% | 3.49B+18.0% | 2.96B-2.5% | 3.03B+12.6% | 2.69B+27.7% | |
| $10.49-10.4% | $11.71+20.2% | $9.74-0.3% | $9.77+14.8% | $8.51+28.4% | ||
| EPS (basic) | $10.52-10.5% | $11.75+20.3% | $9.77-0.3% | $9.80+14.6% | $8.55+28.4% | |
| Weighted-avg shares (basic) | 292M-1.8% | 297M-1.9% | 303M-2.3% | 310M-1.7% | 315M-0.6% | |
| Weighted-avg shares (diluted) | 292M-1.8% | 298M-1.9% | 304M-2.3% | 311M-1.8% | 316M-0.6% | |
| Dividends per share | $6.22+7.2% | $5.80+7.0% | $5.42+7.1% | $5.06+7.2% | $4.72+6.8% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 6.20B+5.9% | 5.86B-6.1% | 6.24B-0.6% | 6.27B-1.6% | 6.37B-2.3% | ||
| Cash & equivalents | 851M-10.2% | 948M-11.0% | 1.06B+50.4% | 708M-53.6% | 1.53B-40.4% | |
| Accounts receivable | 3.23B+7.9% | 2.99B-4.2% | 3.12B-1.5% | 3.17B+11.7% | 2.84B+13.3% | |
| Inventory | 1.66B+3.4% | 1.60B-6.0% | 1.71B-16.9% | 2.05B+21.3% | 1.69B+42.5% | |
| Prepaid expenses | 463M+48.4% | 312M-8.2% | 340M+3.3% | 329M+5.1% | 313M+18.6% | |
| Other current assets | 226M+53.7% | 147M-6.4% | 157M-10.3% | 175M+25.0% | 140M+17.6% | |
| 16.1B+7.2% | 15.1B-2.9% | 15.5B+0.6% | 15.4B-4.1% | 16.1B+3.0% | ||
| Property, plant & equipment | 2.23B+9.5% | 2.04B+3.0% | 1.98B+6.9% | 1.85B+2.2% | 1.81B+1.8% | |
| Operating lease right-of-use | 294M+10.5% | 266M+7.3% | 248M+17.0% | 212M-4.5% | 222M+2.8% | |
| Goodwill | 5.10B+5.4% | 4.84B-1.4% | 4.91B+0.9% | 4.86B-2.0% | 4.96B+5.9% | |
| Intangible assets | 591M-0.2% | 592M-9.9% | 657M-14.5% | 768M-21.0% | 972M+24.5% | |
| Deferred tax assets | 519M+40.7% | 369M-23.0% | 479M-3.0% | 494M-10.5% | 552M+3.6% | |
| Other non-current assets | 1.51B+9.8% | 1.38B+9.0% | 1.26B+7.1% | 1.18B-16.2% | 1.41B+7.4% | |
| 5.13B+19.0% | 4.31B-7.9% | 4.67B+4.8% | 4.46B+28.5% | 3.47B+34.0% | ||
| Accounts payable | 522M+0.6% | 519M-10.7% | 581M-2.2% | 594M+1.5% | 585M+9.6% | |
| Accrued liabilities | 1.64B+3.8% | 1.58B-5.2% | 1.66B-3.8% | 1.73B+4.9% | 1.65B+28.3% | |
| Short-term & current debt | 999M+28.6% | 777M-42.9% | 1.36B+154.4% | 535M-5.8% | 568M+62.3% | |
| Current lease liability | 62.0M+8.8% | 57.0M-1.7% | 58.0M+5.5% | 55.0M-9.8% | 61.0M+10.9% | |
| Long-term debt | 6.68B+5.9% | 6.31B-0.5% | 6.34B+2.7% | 6.17B-10.7% | 6.91B-11.1% | |
| Non-current lease liability | 180M+13.9% | 158M+6.8% | 148M+13.0% | 131M-1.5% | 133M+0.0% | |
| Operating lease liability (total) | 242M+12.6% | 215M+4.4% | 206M+10.8% | 186M-4.1% | 194M+3.2% | |
| Deferred tax liabilities | 154M+29.4% | 119M-63.5% | 326M-32.6% | 484M-26.0% | 654M+11.2% | |
| Other non-current liabilities | 959M-5.5% | 1.01B+0.1% | 1.01B+7.5% | 943M-10.4% | 1.05B-1.4% | |
| Total non-current liabilities | 7.80B+4.8% | 7.44B-5.0% | 7.83B-0.5% | 7.87B-12.3% | 8.98B-8.7% | |
| 3.23B-2.7% | 3.32B+10.1% | 3.01B-2.5% | 3.09B-14.8% | 3.63B+14.0% | ||
| Common stock | 6.00M+0.0% | 6.00M+0.0% | 6.00M+0.0% | 6.00M+0.0% | 6.00M+0.0% | |
| Additional paid-in capital | 1.77B+6.1% | 1.67B+5.1% | 1.59B+5.8% | 1.50B+4.8% | 1.43B+5.1% | |
| Retained earnings | 30.1B+4.4% | 28.9B+6.5% | 27.1B+5.1% | 25.8B+6.1% | 24.3B+5.2% | |
| Treasury stock | 26.9B+5.9% | 25.4B+6.3% | 23.9B+6.7% | 22.4B+8.4% | 20.6B+5.0% | |
| Accumulated other comprehensive income | -1.83B+2.7% | -1.88B-2.3% | -1.83B+0.4% | -1.84B-22.6% | -1.50B+8.5% | |
| Non-controlling interest | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | |
| Total equity incl. non-controlling | 3.23B-2.7% | 3.32B+10.1% | 3.01B-2.5% | 3.09B-14.8% | 3.63B+14.0% | |
| Total liabilities & equity | 16.1B+7.2% | 15.1B-2.9% | 15.5B+0.6% | 15.4B-4.1% | 16.1B+3.0% | |
| Common shares issued | 550M+0.0% | 550M+0.0% | 550M+0.0% | 550M+0.0% | 550M+0.0% | |
| Common shares outstanding | 289M-1.8% | 294M-1.8% | 299M-1.9% | 305M-2.5% | 313M-1.2% | |
| Shares outstanding (cover) | 288M-1.8% | 294M-1.8% | 299M-2.1% | 305M-2.5% | 313M-1.2% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.13B-4.7% | 3.28B-7.3% | 3.54B+50.7% | 2.35B-8.2% | 2.56B-8.9% | ||
| Depreciation & amortization | 317M+5.3% | 301M+6.7% | 282M+2.2% | 276M-0.4% | 277M+1.5% | |
| Share-based compensation | 69.0M+13.1% | 61.0M-11.6% | 69.0M+9.5% | 63.0M+18.9% | 53.0M+26.2% | |
| Change in inventory | -34.0M+80.7% | -176M+51.1% | -360M-179.1% | 455M+1.1% | 450M+1146.5% | |
| Other operating activities | 9.00M+50.0% | 6.00M+250.0% | -4.00M-180.0% | 5.00M-61.5% | 13.0M+62.5% | |
| -521M-261.8% | -144M+64.3% | -403M-266.4% | -110M+88.8% | -984M-359.8% | ||
| Capital expenditure | 419M-4.1% | 437M-4.0% | 455M+10.4% | 412M+39.2% | 296M+25.4% | |
| Free cash flow | 2.71B-4.8% | 2.84B-7.8% | 3.08B+59.3% | 1.94B-14.4% | 2.26B-12.1% | |
| Acquisitions | 119M+3.5% | 115M | 0.00-100.0% | 2.00M-99.7% | 731M | |
| Sales/maturities of investments | 7.00M-36.4% | 11.0M-59.3% | 27.0M+125.0% | 12.0M-68.4% | 38.0M+171.4% | |
| Proceeds from sale of PP&E | 11.0M-8.3% | 12.0M-40.0% | 20.0M+33.3% | 15.0M+87.5% | 8.00M-20.0% | |
| Other investing activities | 2.00M-80.0% | 10.0M+400.0% | 2.00M+100.0% | 1.00M-66.7% | 3.00M+0.0% | |
| -2.74B+14.0% | -3.19B-14.6% | -2.78B+7.3% | -3.00B-17.0% | -2.56B-25.1% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 65.0M+25.0% | 52.0M-1.9% | 53.0M+82.8% | 29.0M-42.0% | 50.0M-24.2% | |
| Common stock repurchased | 1.50B+0.0% | 1.50B+0.0% | 1.50B-14.3% | 1.75B+75.0% | 1.00B+41.6% | |
| Dividends paid | 1.78B+5.3% | 1.70B+5.0% | 1.61B+4.7% | 1.54B+5.4% | 1.46B+6.1% | |
| Other financing activities | -32.0M+15.8% | -38.0M-171.4% | -14.0M-7.7% | -13.0M-30.0% | -10.0M+61.5% | |
| FX effect on cash | 42.0M+164.6% | -65.0M-2266.7% | 3.00M+105.3% | -57.0M-23.9% | -46.0M-217.9% | |
| Net change in cash | -97.0M+17.1% | -117M-132.8% | 357M+143.6% | -819M+21.0% | -1.04B-277.9% | |
| Interest paid | 279M+12.5% | 248M-4.6% | 260M+30.7% | 199M+1.0% | 197M+1.5% | |
| Income taxes paid | 1.05B-10.8% | 1.18B+15.0% | 1.03B+3.3% | 993M+35.8% | 731M+23.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 71.0B-4.6% | 74.4B-5.6% | 78.8B+16.5% | 67.7B-12.4% | 77.2B+19.6% | |
| P/E | 23.2×+8.5% | 21.3×-14.8% | 25.0×+1.3% | 24.7×-13.7% | 28.7×-6.4% | |
| P/S | 4.4×-5.5% | 4.7×-4.4% | 4.9×+4.6% | 4.7×-12.4% | 5.3×+4.1% | |
| P/B | 22.0×-1.9% | 22.4×-14.5% | 26.2×+16.9% | 22.5×+5.4% | 21.3×+5.0% | |
| P/FCF | 26.2×+0.2% | 26.2×-6.0% | 27.8×-18.7% | 34.2×+0.3% | 34.2×+36.0% | |
| Earnings yield | 4.3%-7.8% | 4.7%+17.4% | 4.0%-1.2% | 4.0%+15.9% | 3.5%+6.8% | |
| FCF yield | 3.8%-0.2% | 3.8%+6.4% | 3.6%+23.0% | 2.9%-0.3% | 2.9%-26.5% | |
| Dividend yield | 2.5%+10.4% | 2.3%+10.5% | 2.1%-9.9% | 2.3%+20.1% | 1.9%-11.8% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: ITW’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ITW filings on SEC EDGAR → Not investment advice.