Illinois Tool Works (ITW) Financial Statements & Analysis

Illinois Tool Works (ITW) Income Statement

Illinois Tool Works reported revenue of $16.04B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 0.9% from $15.90B a year earlier. Net income was $3.07B, down 12.1% year over year, a net margin of 19.1%. Gross margin was 44.1% and operating margin 26.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $4.30B, up 6.1% from the same quarter a year earlier.

Illinois Tool Works Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Illinois Tool Works Inc. income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	16.04	15.90	16.11	15.93	14.46	12.57	14.11	14.77	14.31
Cost of Revenue	8.97	8.96	9.43	9.56	8.49	7.53	8.35	8.79	8.52
Gross Profit	7.08	6.94	6.68	6.37	5.97	5.05	5.76	5.98	5.80
Operating Expenses
Research & Development	0.00	0.29	0.28	0.27	0.24	0.21	0.22	0.23	0.23
Selling, General & Administrative	2.78	2.38	2.35	2.31	2.33	1.95	2.14	2.16	2.18
Operating Expenses	2.86	2.68	2.64	2.58	2.49	2.16	2.36	2.39	2.40
Operating Income	4.22	4.26	4.04	3.79	3.48	2.88	3.40	3.58	3.49
Other Income/Expense
Interest Income	0.00	0.04	0.05	0.03	0.01	0.03	0.04	0.04	0.06
Interest Expense	0.29	0.28	0.27	0.20	-0.20	0.21	0.22	0.26	0.26
Other Income/Expense	-0.25	0.16	-0.22	0.05	-0.15	-0.18	-0.11	-0.19	-0.22
Income
Income Before Tax	3.97	4.42	3.82	3.84	3.33	2.70	3.29	3.39	3.27
Income Tax Expense	0.90	0.93	0.87	0.81	0.63	0.60	0.77	0.83	1.58
Net Income	3.07	3.49	2.96	3.03	2.69	2.11	2.52	2.56	1.69
Net Income - Continuous Operations	3.07	3.49	2.96	3.03	2.69	2.11	2.52	2.56	1.69
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	4.65	5.11	4.48	4.46	3.91	3.34	3.94	4.11	3.99
EBIT	4.26	4.29	4.09	3.83	3.50	-	-	-	-
Depreciation & Amortization	0.39	0.40	0.40	0.41	0.41	0.43	0.43	0.46	0.46
Earnings Per Share
Basic EPS	11.00	12.00	10.00	10.00	9.00	7.00	8.00	8.00	5.00
Diluted EPS	10.00	12.00	10.00	10.00	9.00	7.00	8.00	8.00	5.00
Basic Shares Outstanding	0.29	0.30	0.30	0.31	0.32	0.32	0.32	0.34	0.34
Diluted Shares Outstanding	0.29	0.30	0.30	0.31	0.32	0.32	0.33	0.34	0.35

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Illinois Tool Works Financial Statements

What was Illinois Tool Works's revenue in fiscal 2025?

Illinois Tool Works reported revenue of $16.04B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 0.9% from $15.90B a year earlier.

Is Illinois Tool Works profitable?

Yes. Illinois Tool Works earned net income of $3.07B in fiscal 2025, a net margin of 19.1%. In fiscal 2024 it earned $3.49B.

What is Illinois Tool Works's operating margin?

Illinois Tool Works's operating income was $4.22B on revenue of $16.04B in fiscal 2025, an operating margin of 26.3%, compared with 26.8% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition