Illinois Tool Works (ITW) financials
Illinois Tool Works revenue and earnings by year
Illinois Tool Works's revenue was $16.0 billion in the fiscal year to December 31, 2025, up 0.9% from the year before. Net income was $3.07 billion, 19.1% of revenue. Since the fiscal year to December 31, 2016, revenue has grown 1.9% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 10 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 16.0 | 15.9 | 16.1 | 15.9 | 14.5 | 12.6 | 14.1 | 14.8 | 14.3 | 13.6 |
| Revenue growth | 0.9% | -1.3% | 1.1% | 10.2% | 15.0% | -10.9% | -4.5% | 3.2% | 5.3% | — |
| Gross profit | 7.1 | 7.0 | 6.8 | 6.5 | 6.0 | 5.2 | 5.9 | 6.2 | 6.0 | 5.7 |
| Gross margin | 44.1% | 44.3% | 42.2% | 40.8% | 41.3% | 41.3% | 42.0% | 41.7% | 42.0% | 41.8% |
| Operating income | 4.2 | 4.3 | 4.0 | 3.8 | 3.5 | 2.9 | 3.4 | 3.6 | 3.5 | 3.1 |
| Operating margin | 26.3% | 26.8% | 25.1% | 23.8% | 24.1% | 22.9% | 24.1% | 24.3% | 24.3% | 22.5% |
| Net income | 3.1 | 3.5 | 3.0 | 3.0 | 2.7 | 2.1 | 2.5 | 2.6 | 1.7 | 2.0 |
| Net margin | 19.1% | 21.9% | 18.4% | 19.0% | 18.6% | 16.8% | 17.9% | 17.4% | 11.8% | 15.0% |
| Diluted EPS | $10.49 | $11.71 | $9.74 | $9.77 | $8.51 | $6.63 | $7.75 | $7.60 | $4.86 | $5.70 |
| Free cash flow | 2.7 | 2.9 | 3.1 | 2.0 | 2.3 | 2.6 | 2.7 | 2.5 | 2.1 | 2.0 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open ITW in Markets.
How Illinois Tool Works makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| Test & Measurement & Electronics | $819M | 19.3% |
| Automotive OEM | $814M | 19.2% |
| Food Equipment | $698M | 16.5% |
| Welding | $513M | 12.1% |
| Polymers & Fluids | $477M | 11.3% |
| Construction Products | $472M | 11.1% |
| Specialty Products | $447M | 10.5% |
See also: ITW valuation and P/E history · ITW returns
No forecast, no recommendation. This page describes Illinois Tool Works from published data; it is not advice to buy, sell or hold any security.
Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.