Illinois Tool Works

Industrials Industrial Machinery & Supplies & Components Glenview, Illinois Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$16.0B
                    3y CAGR +0.2%
                    
                    P24
                    
                    +0.9%
                    
                    Net income
                    FY2025
                
$3.1B
                    Net margin +19.1%
                    
                    P84
                    
                    -12.1%
                    
                    Total assets
                    FY2025
                
$16.1B
                    ROA +19.0%
                    
                    P96
                    
                    +7.2%
                    
                    Operating cash flow
                    FY2025
                
$3.1B
                    FCF margin +16.9%
                    
                    P71
                    
                    -4.7%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 3 years

Total assets $16.1B

Total liabilities $5.1B

Shareholders equity $3.2B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	5.3%	6.0%	6.6%
Accounts Receivable	20.1%	18.8%	19.4%
Inventory	10.3%	10.1%	10.6%
Prepaid Expenses	2.9%	2.0%	2.1%
Total Current Assets	38.6%	36.8%	38.7%
Property,Plant and Equipment	13.9%	12.8%	12.3%
Goodwill	31.8%	30.4%	30.5%
Intangible Assets	3.7%	3.7%	4.1%
Deferred Tax Assets	3.2%	2.3%	3.0%
Other Noncurrent Assets	9.4%	8.6%	7.8%
Total Assets	100.6%	94.8%	96.3%
Liabilities
Accounts Payable	3.3%	3.3%	3.6%
Accrued Liabilities	10.2%	9.9%	10.3%
Current Portion of Long Term Debt	14.2%	4.9%	8.4%
Other Current Liabilities	6.0%	6.4%	6.3%
Total Current Liabilities	31.9%	27.1%	29.0%
Long Term Debt	41.7%	39.7%	39.4%
Deferred Tax Liabilities	1.0%	5.6%	5.4%
Other Noncurrent Liabilities	6.0%	6.4%	6.3%
Total Liabilities	31.9%	27.1%	29.0%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	11.0%	10.5%	9.9%
Retained Earnings	187.9%	181.7%	168.4%
Treasury Stock	9.3%	9.4%	9.3%
Accumulated Other Comprehensive Income	-11.4%	-11.8%	-11.4%
Noncontrolling Interest	0.0%	0.0%	0.0%
Total Stockholders Equity	20.1%	20.9%	18.7%
Total Liabilitiesand Equity	100.6%	94.8%	96.3%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $16.0B

Operating income $4.2B

Net income $3.1B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%
Expenses Cost of Revenue	55.9%	55.7%	57.8%
Expenses Research and Development	1.9%	1.8%	1.8%
Expenses Depreciation and Amortization	2.0%	1.9%	1.8%
Expenses Share Based Compensation	0.4%	0.4%	0.4%
Other Income Expense Operating Income	26.3%	26.8%	25.1%
Other Income Expense Interest Income	0.2%	0.3%	0.3%
Other Income Expense Other Income/expense	-0.0%	-0.0%	0.0%
Other Income Expense Income Before Tax	14.9%	16.4%	23.7%
Income Tax Income Tax Expense	5.6%	5.9%	5.4%
net Income net Income	19.1%	21.9%	18.4%
net Income Comprehensive Income	0.3%	-0.3%	0.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.8%	1.9%	1.9%
Earnings Per Share Weighted Average Shares Diluted	1.8%	1.9%	1.9%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 3 years

Operating cash flow $3.1B

Investing cash flow $-521.0M

Financing cash flow $-2.7B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	19.1%	21.9%	18.4%
Operating Activities Depreciation and Amortization	2.0%	1.9%	1.8%
Operating Activities Stock Based Compensation	0.4%	0.4%	0.4%
Operating Activities Deferred Income Taxes	0.1%	1.1%	0.5%
Operating Activities Changes In Operating Assets and Liabilities	0.6%	-0.8%	-2.1%
Operating Activities Other Non Cash Items	0.1%	0.0%	-0.0%
Operating Activities net Cash From Operating Activities	19.5%	20.6%	22.0%
Investing Activities Capital Expenditures	2.6%	2.7%	2.8%
Investing Activities Business Acquisitions	0.7%	0.7%	0.0%
Investing Activities Other Investing Activities	0.0%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-3.2%	-0.9%	-2.5%
Financing Activities Repurchase of Common Stock	9.3%	9.4%	9.3%
Financing Activities Dividends Paid	11.1%	10.7%	10.0%
Financing Activities Proceeds From Stock Issuance	0.4%	0.3%	0.3%
Financing Activities Other Financing Activities	-0.2%	-0.2%	-0.1%
Financing Activities net Cash From Financing Activities	-17.1%	-20.1%	-17.3%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.4%	0.0%
Cash Reconciliation net Change In Cash	-0.6%	-0.7%	2.2%
Cash Reconciliation Cash At Beginning of Period	5.3%	6.0%	6.6%
Cash Reconciliation Cash At End of Period	5.3%	6.0%	6.6%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	+44.1%	+44.3%	+42.2%
Operating margin	+26.3%	+26.8%	+25.1%
Net margin	+19.1%	+21.9%	+18.4%
FCF margin	+16.9%	+17.9%	+19.1%
Growth
Revenue CAGR (3y)	+0.2%	+3.2%	+8.6%
Returns
ROE	+95.0%	+105.2%	+98.1%
ROA	+19.0%	+23.1%	+19.1%
ROIC	+23.1%	+28.9%	+32.4%
Liquidity
Current ratio	1.21x	1.36x	1.33x
Quick ratio	0.80x	0.91x	0.90x
Leverage
D/E	1.59x	1.30x	1.55x
Interest coverage	—	—	15.19x
Efficiency
Asset turnover	0.99x	1.06x	1.04x
Cash conversion cycle	+120d	+113d	+115d

Valuation

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Illinois Tool Works

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