Illinois Tool Works Inc. (ITW)

Illinois Tool Works Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	15,883	15,898	16,107	15,932	14,455	12,574
Revenue Growth (YoY)	-0.41%	-1.30%	1.10%	10.22%	14.96%	-10.88%
Cost of Revenue	8,906	8,858	9,316	9,429	8,489	7,375
Gross Profit	6,977	7,040	6,791	6,503	5,966	5,199
Selling, General & Admin	2,695	2,647	2,605	2,538	2,333	2,150
Amortization of Goodwill & Intangibles	85	101	113	134	133	154
Operating Expenses	2,780	2,748	2,718	2,672	2,466	2,304
Operating Income	4,197	4,292	4,073	3,831	3,500	2,895
Interest Expense	-285	-283	-266	-203	-202	-206
Interest & Investment Income	44	44	51	22	12	17
Currency Exchange Gain (Loss)	7	7	-39	-7	-9	-5
Other Non Operating Income (Expenses)	-38	-1	1	-1	-4	-5
EBT Excluding Unusual Items	3,925	4,059	3,820	3,642	3,297	2,696
Gain (Loss) on Sale of Investments	-	363	2	9	29	8
Gain (Loss) on Sale of Assets	-	-	1	191	-	-
Pretax Income	3,925	4,422	3,823	3,842	3,326	2,704
Income Tax Expense	899	934	866	808	632	595
Earnings From Continuing Operations	3,026	3,488	2,957	3,034	2,694	2,109
Net Income	3,026	3,488	2,957	3,034	2,694	2,109
Net Income to Common	3,026	3,488	2,957	3,034	2,694	2,109
Net Income Growth	-12.42%	17.96%	-2.54%	12.62%	27.74%	-16.34%
Shares Outstanding (Basic)	293	297	303	310	315	317
Shares Outstanding (Diluted)	294	298	304	311	316	318
Shares Change (YoY)	-1.81%	-1.91%	-2.28%	-1.80%	-0.60%	-2.24%
EPS (Basic)	10.34	11.75	9.77	9.80	8.55	6.66
EPS (Diluted)	10.31	11.71	9.74	9.77	8.51	6.63
EPS Growth	-10.73%	20.23%	-0.31%	14.81%	28.36%	-14.34%
Free Cash Flow	2,845	2,844	3,084	1,936	2,261	2,571
Free Cash Flow Per Share	9.69	9.55	10.16	6.23	7.15	8.08
Dividend Per Share	6.110	5.800	5.420	5.060	4.720	4.420
Dividend Growth	7.19%	7.01%	7.12%	7.20%	6.79%	6.76%
Gross Margin	43.93%	44.28%	42.16%	40.82%	41.27%	41.35%
Operating Margin	26.42%	27.00%	25.29%	24.05%	24.21%	23.02%
Profit Margin	19.05%	21.94%	18.36%	19.04%	18.64%	16.77%
Free Cash Flow Margin	17.91%	17.89%	19.15%	12.15%	15.64%	20.45%
EBITDA	4,593	4,694	4,468	4,241	3,910	3,322
EBITDA Margin	28.92%	29.53%	27.74%	26.62%	27.05%	26.42%
D&A For EBITDA	396	402	395	410	410	427
EBIT	4,197	4,292	4,073	3,831	3,500	2,895
EBIT Margin	26.42%	27.00%	25.29%	24.05%	24.21%	23.02%
Effective Tax Rate	22.90%	21.12%	22.65%	21.03%	19.00%	22.00%
Advertising Expenses	-	58	60	57	50	43

Updated Oct 24, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q