| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.90B | $16.11B | $15.93B | $14.46B | $12.57B | $14.11B | $14.77B | $14.31B |
| Cost of Revenue | $8.96B | $9.43B | $9.56B | $8.62B | $7.53B | $8.35B | $8.79B | $8.52B |
| Gross Profit | $6.94B | $6.68B | $6.37B | $5.83B | $5.04B | $5.76B | $5.97B | $5.80B |
| Gross Margin | 43.65% | 41.46% | 39.98% | 40.35% | 40.12% | 40.85% | 40.46% | 40.51% |
| Operating Expenses | $2.67B | $2.64B | $2.58B | $2.36B | $2.16B | $2.36B | $2.39B | $2.31B |
| Operating Income | $4.26B | $4.04B | $3.79B | $3.48B | $2.88B | $3.40B | $3.58B | $3.49B |
| Operating Margin | 26.82% | 25.08% | 23.79% | 24.05% | 22.92% | 24.11% | 24.27% | 24.41% |
| Net Income | $3.49B | $2.96B | $3.03B | $2.69B | $2.11B | $2.52B | $2.56B | $1.69B |
| Net Margin | 21.94% | 18.36% | 19.04% | 18.64% | 16.77% | 17.87% | 17.36% | 11.79% |
| EPS (Basic) | $11.75 | $9.77 | $9.80 | $8.55 | $6.66 | $7.78 | $7.65 | $4.90 |
| EBITDA | $5.11B | $4.48B | $4.46B | $3.94B | $3.34B | $3.94B | $4.11B | $3.99B |
| Stock Option Compensation Expense | $61.00M | $69.00M | $63.00M | $53.00M | $42.00M | $41.00M | $40.00M | $36.00M |
| Price To Earnings Ratio | 21.58 | 26.81 | 22.48 | 28.87 | 30.64 | 23.08 | 16.56 | 34.03 |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | $75.26B | $79.26B | $68.20B | $77.77B | $64.61B | $58.18B | $42.44B | $57.41B |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Cash & Short Term Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Short Term Receivables | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Inventories | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Property, Plant & Equipment | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Investments and Advances | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Note Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Intangible Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Assets | $15.07B | $15.52B | $15.42B | $16.08B | $15.61B | $15.07B | $14.87B | $16.78B |
| Short Term Debt Incl. Current Port. of LT Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Provision for Risks Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Deferred Tax Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $11.75B | $12.51B | $12.33B | $12.45B | $12.43B | $12.04B | $11.61B | $12.19B |
| Non-Equity Reserves | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Preferred Stock - Carrying Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Common Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Shareholders Equity | $3.32B | $3.01B | $3.09B | $3.63B | $3.18B | $3.03B | $3.25B | $4.58B |
| Accumulated Minority Interest | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $3.32B | $3.01B | $3.09B | $3.63B | $3.18B | $3.03B | $3.25B | $4.58B |
| Total Liabilities & Stockholders Equity | $15.07B | $15.52B | $15.42B | $16.08B | $15.61B | $15.07B | $14.87B | $16.78B |
| Book Value Per Share | $11.18 | $9.96 | $9.98 | $11.51 | $10.04 | $9.35 | $9.73 | $13.34 |
| Tangible Book Value Per Share | $-7.12 | $-8.44 | $-8.21 | $-7.33 | $-7.22 | $-7.14 | $-7.34 | $-4.17 |
| Full-Time Employees | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Book Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 23.15% | 19.06% | 19.67% | 16.76% | 13.51% | 16.73% | 17.24% | 10.05% |
| Return on Equity | 105.19% | 98.17% | 98.25% | 74.32% | 66.30% | 83.31% | 78.76% | 36.79% |
| Return on Invested Capital | 27.19% | 24.55% | 23.74% | 20.95% | 16.74% | 20.11% | 21.35% | 12.37% |
| Quick Ratio | 0.99 | 0.97 | 0.95 | 1.35 | 2.06 | 2.36 | 1.26 | 1.98 |
| Current Ratio | 1.36 | 1.33 | 1.41 | 1.84 | 2.52 | 2.90 | 1.63 | 2.38 |
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Net Income | $3.49B | $2.96B | $3.03B | $2.69B | $2.11B | $2.52B | $2.56B | $1.69B |
| Depreciation | $402.00M | $395.00M | $410.00M | $410.00M | $427.00M | $426.00M | $461.00M | $462.00M |
| Other Funds (Non Cash) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Funds from Operations | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Extraordinary Item | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Changes in Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Taxes Payable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Operating Activities | $3.28B | $3.54B | $2.35B | $2.56B | $2.81B | $3.00B | $2.81B | $2.40B |
| Capital Expenditures | $437.00M | $455.00M | $412.00M | $296.00M | $236.00M | $326.00M | $364.00M | $297.00M |
| Net Assets From Acquisitions | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale of Fixed Assets and Businesses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase or Sale of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Purchase of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Sale Or Maturity of Investments | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Sources | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Investing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash Dividends Paid | $1.70B | $1.61B | $1.54B | $1.46B | $1.38B | $1.32B | $1.12B | $941.00M |
| Change in Capital Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Repurchase of Common Pref Stock | $1.50B | $1.50B | $1.75B | $1.00B | $706.00M | $1.50B | $2.00B | $1.00B |
| Sale of Common Pref Stock | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Proceeds from Stock Options | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance or Reduction of Debt, Net | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Change in Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Issuance of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Reduction of Long Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Financing Active Other Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Other Financing Activities Uses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash from Financing Activities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Exchange Rate Effect | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Change in Cash | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $2.84B | $3.08B | $1.94B | $2.26B | $2.57B | $2.67B | $2.45B | $2.10B |
| Preferred Dividends (Cash Flow) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price to Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Company coverage
Illinois Tool Works Inc. is a global enterprise specializing in the production and distribution of a wide array of industrial goods and specialized equipment. The company operates through seven distinct divisions: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM division supplies plastic and metal components, various fastening solutions, and integrated assemblies for automobiles, light-duty trucks, and other industrial applications. Its Food Equipment segment delivers commercial kitchen appliances for washing, refrigeration, cooking, and food processing, alongside comprehensive kitchen exhaust, ventilation, and pollution control systems, and offers related maintenance and repair services. The Test & Measurement and Electronics unit manufactures and sells machinery, expendable supplies, and accompanying software designed for assessing materials and structural integrity, in addition to equipment and consumables critical for the creation of electronic subassemblies and microelectronic components. The Welding division focuses on arc welding apparatus, coupled with metal arc welding consumables and associated accessories. The Polymers & Fluids segment produces adhesives, sealing compounds, lubrication and cutting fluids, and various fluids and polymers intended for automotive aftermarket upkeep and cosmetic purposes. The Construction Products segment provides purpose-engineered fastening systems and comprehensive solutions for new housing, renovation projects, and commercial building industries. Lastly, the Specialty Products segment delivers machinery and supplies for beverage packaging, equipment and expendables for product identification and marking, and specialized components and fasteners for appliances. ITW's broad clientele encompasses sectors such as automotive original equipment manufacturers (OEMs) and their suppliers, the commercial food service industry, construction companies, general industrial enterprises, and the automotive aftermarket. The corporation distributes its offerings directly to industrial manufacturers and via an extensive network of independent distributors. Established in 1912, Illinois Tool Works Inc. is headquartered in Glenview, Illinois.
Why it moved over time
ITW reported Q2 results that beat estimates and raised full-year organic growth and earnings guidance, providing a near-term catalyst by signaling stronger demand and margin expansion across capital-expenditure-related businesses.
Key fact: Q2 EPS $2.84 (beat Zacks $2.80); company raised full-year organic sales growth and earnings outlook per July 28 earnings release.
marketbeat.com: Illinois Tool Works Q2 Earnings Call Highlights