Illinois Tool Works Inc. (ITW) is a diversified industrial manufacturing company headquartered in Glenview, Illinois, United States, and founded in 1912. The company delivers engineered technology solutions and specialty products across sectors such as automotive, construction, and food processing. Under CEO Mark D. Schneider’s leadership since 2019, ITW has bolstered its market position through strategic acquisitions and operational efficiencies. It continues to drive growth by investing in digital transformation and sustainability initiatives.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
16,044,000
15,898,000
16,107,000
15,932,000
Cost of Sales
8,969,000
8,858,000
9,316,000
9,429,000
Gross Profit
7,075,000
7,040,000
6,791,000
6,503,000
Selling, General & Administrative Expenses
2,779,000
2,675,000
2,638,000
2,579,000
Depreciation & Amortization Expenses
80,000
101,000
113,000
134,000
Operating Profit
4,216,000
4,264,000
4,040,000
3,790,000
Interest Expense
(292,000)
(283,000)
(266,000)
(203,000)
Non-Operating Income
42,000
441,000
49,000
255,000
Total Non-Operating Income
(250,000)
158,000
(217,000)
52,000
Income Before Provision for Income Taxes
3,966,000
4,422,000
3,823,000
3,842,000
Provision for Income Taxes
900,000
934,000
866,000
808,000
Consolidated Net Income
3,066,000
3,488,000
2,957,000
3,034,000
Net Income Attributable to Common Shareholders
3,066,000
3,488,000
2,957,000
3,034,000
Basic EPS
10.52
11.75
9.77
9.80
Diluted EPS
10.49
11.71
9.74
9.77
Basic Weighted Average Shares Outstanding
291,500
296,800
302,600
309,600
Diluted Weighted Average Shares Outstanding
292,300
297,800
303,600
310,700
Shares Outstanding
288,600
290,600
299,300
305,500
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
851,000
948,000
1,065,000
708,000
Total Cash and Cash Equivalents
851,000
948,000
1,065,000
708,000
Accounts Receivable
3,227,000
2,991,000
3,123,000
3,171,000
Total Trade Receivables
3,227,000
2,991,000
3,123,000
3,171,000
Inventories
1,659,000
1,605,000
1,707,000
2,054,000
Other Current Assets
463,000
312,000
340,000
337,000
Total Current Assets
6,200,000
5,856,000
6,235,000
6,270,000
Net Property, Plant & Equipment
2,230,000
2,036,000
1,976,000
1,848,000
Net Intangible Assets
591,000
592,000
657,000
768,000
Goodwill
5,098,000
4,839,000
4,909,000
4,864,000
Other Long-Term Assets
2,029,000
1,744,000
1,741,000
1,672,000
Total Assets
16,148,000
15,067,000
15,518,000
15,422,000
Accounts Payable
522,000
519,000
581,000
594,000
Accrued Expenses
1,636,000
1,576,000
1,663,000
1,728,000
Short-Term Debt
2,286,000
1,555,000
1,825,000
1,590,000
Other Current Liabilities
682,000
658,000
606,000
548,000
Total Current Liabilities
5,126,000
4,308,000
4,675,000
4,460,000
Long-Term Debt
6,683,000
6,308,000
6,339,000
6,173,000
Other Long-Term Liabilities
1,113,000
1,134,000
1,491,000
1,700,000
Total Long-Term Liabilities
7,796,000
7,442,000
7,830,000
7,873,000
Total Liabilities
12,922,000
11,750,000
12,505,000
12,333,000
Common Stock
6,000
6,000
6,000
6,000
Treasury Stock
(26,875,000)
(25,375,000)
(23,870,000)
(22,377,000)
Additional Paid-in Capital
1,771,000
1,669,000
1,588,000
1,501,000
Accumulated Other Comprehensive Income
(1,827,000)
(1,877,000)
(1,834,000)
(1,841,000)
Retained Earnings
30,150,000
28,893,000
27,122,000
25,799,000
Total Common Shareholders' Equity
3,225,000
3,316,000
3,012,000
3,088,000
Minority Interests and Other
1,000
1,000
1,000
1,000
Total Shareholders' Equity
3,226,000
3,317,000
3,013,000
3,089,000
Total Liabilities and Shareholders' Equity
16,148,000
15,067,000
15,518,000
15,422,000
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
3,066,000
3,488,000
2,957,000
3,034,000
Depreciation & Amortization
397,000
402,000
395,000
410,000
Share-Based Compensation Expense
69,000
61,000
69,000
63,000
Other Adjustments
0
(291,000)
(450,000)
(341,000)
Changes in Trade Receivables
(92,000)
34,000
64,000
(461,000)
Changes in Inventories
34,000
176,000
360,000
(455,000)
Changes in Accounts Payable
(29,000)
(43,000)
(14,000)
35,000
Changes in Accrued Expenses
(48,000)
(74,000)
(102,000)
119,000
Changes in Income Taxes Payable
(135,000)
(70,000)
(72,000)
(35,000)
Changes in Other Operating Activities
(136,000)
(42,000)
(28,000)
(21,000)
Cash from Operating Activities
3,126,000
3,281,000
3,539,000
2,348,000
Capital Expenditure
(419,000)
(437,000)
(455,000)
(412,000)
Proceeds from Sale of Property, Plant & Equipment
11,000
12,000
20,000
15,000
Proceeds from Sale of Investments
7,000
11,000
27,000
12,000
Payments for Business Acquisitions
(119,000)
(115,000)
—
(2,000)
Proceeds from Business Divestments
1,000
402,000
—
278,000
Other Investing Activities
(2,000)
(10,000)
(2,000)
(1,000)
Cash from Investing Activities
(521,000)
(144,000)
(403,000)
(110,000)
Issuance of Long-Term Debt
—
1,606,000
1,425,000
593,000
Repayments of Long-Term Debt
—
(1,926,000)
(679,000)
(1,113,000)
Net Issuance / (Repayments) of Long-Term Debt
—
(320,000)
746,000
(520,000)
Issuance of Common Shares
65,000
52,000
53,000
29,000
Repurchases of Common Shares
(1,500,000)
(1,500,000)
(1,500,000)
(1,750,000)
Net Issuance / (Repurchases) of Common Shares
(1,435,000)
(1,448,000)
(1,447,000)
(1,721,000)
Common Share Dividends Paid
(1,785,000)
(1,695,000)
(1,615,000)
(1,542,000)
Other Financing Activities
476,000
274,000
(466,000)
783,000
Cash from Financing Activities
(2,744,000)
(3,189,000)
(2,782,000)
(3,000,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
42,000
(65,000)
3,000
(57,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash