Fundies.
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ILLINOIS TOOL WORKS INC.

EDGAR
ITW Quarterly report (10-Q) · filed 2026-10-28

Annual consolidated revenue for 2025: about USD 16.04B, using the latest reported figures. The previous period, 2024, was about USD 15.9B.

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Watchlist

Latest quarter

Revenue

4.24 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 4236000000 USD Source

Operating margin

27.79%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 1177000000 USD Source
  • Revenue: 4236000000 USD Source

Operating cash flow

953 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2299000000 USD Source
  • Operating Cash Flow: 1346000000 USD Source

Free cash flow

851 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2299000000 USD Source
  • Operating Cash Flow: 1346000000 USD Source
  • Capital Expenditure: 289000000 USD Source
  • Capital Expenditure: 187000000 USD Source
Cash and cash equivalents
809 million USD Source
Exact value

809000000 USD

Long-term debt including current maturities
7.68 billion USD Source
Exact value

7682000000 USD

Shares outstanding
284 million shares Source
Exact value

284200000 shares

Reported share-count change

-2.03% · -5.9 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 290100000 shares · 2025-09-30· Source
  • 284200000 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

16.6 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 16044000000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 11951000000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 4016000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 4301000000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 4236000000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

3.26 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 3126000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 2163000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 623000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1346000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 623000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2299000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 1346000000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

394 million USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 419000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 314000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 95000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 187000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 95000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 289000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 187000000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

2.87 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 3126000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 2163000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 623000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1346000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 623000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2299000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 1346000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 419000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 314000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 95000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 187000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 95000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 289000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 187000000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • net income: No compatible figures in this window
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • liabilities: No compatible figures in this window
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 11 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +0.9%

    Prior period

    USD 15.9 billion

    –

    Current period

    USD 16.04 billion

    –

    Exact inputs and evidence

    16044000000 − 15898000000 = 146000000 USD

    15898000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    16044000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    -4.7%

    Prior period

    USD 3.28 billion

    –

    Current period

    USD 3.13 billion

    –

    Exact inputs and evidence

    3126000000 − 3281000000 = -155000000 USD

    3281000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3126000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Capital expenditure

    -4.1%

    Prior period

    USD 437 million

    –

    Current period

    USD 419 million

    –

    Exact inputs and evidence

    419000000 − 437000000 = -18000000 USD

    437000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    419000000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Net income.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 16.04 billion 100% of revenue
  • Operating costs Derived USD 11.83 billion 74% of revenue
  • Operating income USD 4.22 billion 26% of revenue
  • Tax, interest and other Derived Unavailable An input is unavailable.
  • Net income Unavailable An input is unavailable.

Cash

  • Operating cash flow USD 3.13 billion 19% of revenue
  • Capital expenditure USD 419 million 2.6% of revenue
  • Free cash flow Derived USD 2.71 billion 17% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Not shown: operating income or net income is not reported.
  • 2017 Not shown: operating income or net income is not reported.
  • 2018 Not shown: operating income or net income is not reported.
  • 2019 Not shown: operating income or net income is not reported.
  • 2020 Not shown: operating income or net income is not reported.
  • 2021 Not shown: operating income or net income is not reported.
  • 2022 Not shown: operating income or net income is not reported.
  • 2023 Not shown: operating income or net income is not reported.
  • 2024 Not shown: operating income or net income is not reported.
  • 2025 Not shown: operating income or net income is not reported.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-3113599000000 10543000000 Derived 3056000000 UnavailableUnavailable2029000000 Derived
Source
2017 2017-01-01 – 2017-12-3114314000000 10829000000 Derived 3485000000 UnavailableUnavailable2105000000 Derived
Source
2018 2018-01-01 – 2018-12-3114768000000 11184000000 Derived 3584000000 UnavailableUnavailable2447000000 Derived
Source
2019 2019-01-01 – 2019-12-3114109000000 10707000000 Derived 3402000000 UnavailableUnavailable2669000000 Derived
Source
2020 2020-01-01 – 2020-12-3112574000000 9692000000 Derived 2882000000 UnavailableUnavailable2571000000 Derived
Source
2021 2021-01-01 – 2021-12-3114455000000 10978000000 Derived 3477000000 UnavailableUnavailable2261000000 Derived
Source
2022 2022-01-01 – 2022-12-3115932000000 12142000000 Derived 3790000000 UnavailableUnavailable1936000000 Derived
Source
2023 2023-01-01 – 2023-12-3116107000000 12067000000 Derived 4040000000 UnavailableUnavailable3084000000 Derived
Source
2024 2024-01-01 – 2024-12-3115898000000 11634000000 Derived 4264000000 UnavailableUnavailable2844000000 Derived
Source
2025 2025-01-01 – 2025-12-3116044000000 11828000000 Derived 4216000000 UnavailableUnavailable2707000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 16B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.17.4B13.0B8.7B4.3B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue13599000000
2017Revenue14314000000
2018Revenue14768000000
2019Revenue14109000000
2020Revenue12574000000
2021Revenue14455000000
2022Revenue15932000000
2023Revenue16107000000
2024Revenue15898000000
2025Revenue16044000000

Revenue growth

Change in revenue from the same financial period one year earlier.

0.9% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.17.0%9.5%2.0%-5.5%-12.9%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year1.4%
2017Year over year5.3%
2018Year over year3.2%
2019Year over year-4.5%
2020Year over year-10.9%
2021Year over year15%
2022Year over year10.2%
2023Year over year1.1%
2024Year over year-1.3%
2025Year over year0.9%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 26.3% 2025
Free cash flow margin 16.9% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.29.0%21.7%14.5%7.2%0.0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin22.5%
2017Operating margin24.3%
2018Operating margin24.3%
2019Operating margin24.1%
2020Operating margin22.9%
2021Operating margin24.1%
2022Operating margin23.8%
2023Operating margin25.1%
2024Operating margin26.8%
2025Operating margin26.3%
2016-12-31Net marginNot reported
2017-12-31Net marginNot reported
2018-12-31Net marginNot reported
2019-12-31Net marginNot reported
2020-12-31Net marginNot reported
2021-12-31Net marginNot reported
2022-12-31Net marginNot reported
2023-12-31Net marginNot reported
2024-12-31Net marginNot reported
2025-12-31Net marginNot reported
2016Free cash flow margin14.9%
2017Free cash flow margin14.7%
2018Free cash flow margin16.6%
2019Free cash flow margin18.9%
2020Free cash flow margin20.4%
2021Free cash flow margin15.6%
2022Free cash flow margin12.2%
2023Free cash flow margin19.1%
2024Free cash flow margin17.9%
2025Free cash flow margin16.9%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 3.1B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.8B2.9B1.9B955.5M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow2302000000
2017Operating cash flow2402000000
2018Operating cash flow2811000000
2019Operating cash flow2995000000
2020Operating cash flow2807000000
2021Operating cash flow2557000000
2022Operating cash flow2348000000
2023Operating cash flow3539000000
2024Operating cash flow3281000000
2025Operating cash flow3126000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 2.7B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.3B2.5B1.7B832.7M0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow2029000000
2017Free cash flow2105000000
2018Free cash flow2447000000
2019Free cash flow2669000000
2020Free cash flow2571000000
2021Free cash flow2261000000
2022Free cash flow1936000000
2023Free cash flow3084000000
2024Free cash flow2844000000
2025Free cash flow2707000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016-12-31Liabilities / assetsNot reported
2017-12-31Liabilities / assetsNot reported
2018-12-31Liabilities / assetsNot reported
2019-12-31Liabilities / assetsNot reported
2020-12-31Liabilities / assetsNot reported
2021-12-31Liabilities / assetsNot reported
2022-12-31Liabilities / assetsNot reported
2023-12-31Liabilities / assetsNot reported
2024-12-31Liabilities / assetsNot reported
2025-12-31Liabilities / assetsNot reported

Current assets to current liabilities

Current assets divided by current liabilities.

1.21× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.14×2.35×1.57×0.78×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities2.22×
2017Current assets / current liabilities2.38×
2018Current assets / current liabilities1.63×
2019Current assets / current liabilities2.9×
2020Current assets / current liabilities2.52×
2021Current assets / current liabilities1.84×
2022Current assets / current liabilities1.41×
2023Current assets / current liabilities1.33×
2024Current assets / current liabilities1.36×
2025Current assets / current liabilities1.21×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
Unavailable Not reported for this period.
USD 2.3 billion
Exact value

Exact value: 2302000000 USD

2016-01-01 – 2016-12-31: 2302000000 USD Inspect Operating Cash Flow Open source
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USD 273 million
Exact value

Exact value: 273000000 USD

2016-01-01 – 2016-12-31: 273000000 USD Inspect Capital Expenditure Open source
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USD 2.03 billion
Calculation and evidence

2302000000 − 273000000 USD

Exact free cash flow: 2029000000 USD

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2017 2017-01-01 – 2017-12-31
Unavailable Not reported for this period.
USD 2.4 billion
Exact value

Exact value: 2402000000 USD

2017-01-01 – 2017-12-31: 2402000000 USD Inspect Operating Cash Flow Open source
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USD 297 million
Exact value

Exact value: 297000000 USD

2017-01-01 – 2017-12-31: 297000000 USD Inspect Capital Expenditure Open source
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USD 2.11 billion
Calculation and evidence

2402000000 − 297000000 USD

Exact free cash flow: 2105000000 USD

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2018 2018-01-01 – 2018-12-31
Unavailable Not reported for this period.
USD 2.81 billion
Exact value

Exact value: 2811000000 USD

2018-01-01 – 2018-12-31: 2811000000 USD Inspect Operating Cash Flow Open source
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USD 364 million
Exact value

Exact value: 364000000 USD

2018-01-01 – 2018-12-31: 364000000 USD Inspect Capital Expenditure Open source
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USD 2.45 billion
Calculation and evidence

2811000000 − 364000000 USD

Exact free cash flow: 2447000000 USD

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2019 2019-01-01 – 2019-12-31
Unavailable Not reported for this period.
USD 3 billion
Exact value

Exact value: 2995000000 USD

2019-01-01 – 2019-12-31: 2995000000 USD Inspect Operating Cash Flow Open source
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USD 326 million
Exact value

Exact value: 326000000 USD

2019-01-01 – 2019-12-31: 326000000 USD Inspect Capital Expenditure Open source
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USD 2.67 billion
Calculation and evidence

2995000000 − 326000000 USD

Exact free cash flow: 2669000000 USD

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2020 2020-01-01 – 2020-12-31
Unavailable Not reported for this period.
USD 2.81 billion
Exact value

Exact value: 2807000000 USD

2020-01-01 – 2020-12-31: 2807000000 USD Inspect Operating Cash Flow Open source
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USD 236 million
Exact value

Exact value: 236000000 USD

2020-01-01 – 2020-12-31: 236000000 USD Inspect Capital Expenditure Open source
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USD 2.57 billion
Calculation and evidence

2807000000 − 236000000 USD

Exact free cash flow: 2571000000 USD

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2021 2021-01-01 – 2021-12-31
Unavailable Not reported for this period.
USD 2.56 billion
Exact value

Exact value: 2557000000 USD

2021-01-01 – 2021-12-31: 2557000000 USD Inspect Operating Cash Flow Open source
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USD 296 million
Exact value

Exact value: 296000000 USD

2021-01-01 – 2021-12-31: 296000000 USD Inspect Capital Expenditure Open source
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USD 2.26 billion
Calculation and evidence

2557000000 − 296000000 USD

Exact free cash flow: 2261000000 USD

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2022 2022-01-01 – 2022-12-31
Unavailable Not reported for this period.
USD 2.35 billion
Exact value

Exact value: 2348000000 USD

2022-01-01 – 2022-12-31: 2348000000 USD Inspect Operating Cash Flow Open source
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USD 412 million
Exact value

Exact value: 412000000 USD

2022-01-01 – 2022-12-31: 412000000 USD Inspect Capital Expenditure Open source
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USD 1.94 billion
Calculation and evidence

2348000000 − 412000000 USD

Exact free cash flow: 1936000000 USD

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2023 2023-01-01 – 2023-12-31
Unavailable Not reported for this period.
USD 3.54 billion
Exact value

Exact value: 3539000000 USD

2023-01-01 – 2023-12-31: 3539000000 USD Inspect Operating Cash Flow Open source
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USD 455 million
Exact value

Exact value: 455000000 USD

2023-01-01 – 2023-12-31: 455000000 USD Inspect Capital Expenditure Open source
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USD 3.08 billion
Calculation and evidence

3539000000 − 455000000 USD

Exact free cash flow: 3084000000 USD

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2024 2024-01-01 – 2024-12-31
Unavailable Not reported for this period.
USD 3.28 billion
Exact value

Exact value: 3281000000 USD

2024-01-01 – 2024-12-31: 3281000000 USD Inspect Operating Cash Flow Open source
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USD 437 million
Exact value

Exact value: 437000000 USD

2024-01-01 – 2024-12-31: 437000000 USD Inspect Capital Expenditure Open source
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USD 2.84 billion
Calculation and evidence

3281000000 − 437000000 USD

Exact free cash flow: 2844000000 USD

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2025 2025-01-01 – 2025-12-31
Unavailable Not reported for this period.
USD 3.13 billion
Exact value

Exact value: 3126000000 USD

2025-01-01 – 2025-12-31: 3126000000 USD Inspect Operating Cash Flow Open source
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USD 419 million
Exact value

Exact value: 419000000 USD

2025-01-01 – 2025-12-31: 419000000 USD Inspect Capital Expenditure Open source
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USD 2.71 billion
Calculation and evidence

3126000000 − 419000000 USD

Exact free cash flow: 2707000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

151 filings · 7,059 latest values · 7,059 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000049826, 49826, ITW, edgar:49826

Also known as ILLINOIS TOOL WORKS INC, ILLINOIS TOOL WORKS INC.