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Illinois Tool Works (ITW)
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Illinois Tool Works Income Statement 2025-2006 | ITW
Brief overview of financial performance at Illinois Tool Works
The overview follows changes across a five-year period. The revenue attributed to Illinois Tool Works moved from 12.6 billion dollars to 16 billion dollars between the two endpoints. The total change was +27.6%, with a CAGR of approximately 5%. Sales changed only slightly and remained broadly flat.
Gross profit changed from 5.2 billion dollars to 8.5 billion dollars (+63.3%). Revenue outpaced cost of revenue, allowing more sales to flow into gross profit. Gross profit as a share of revenue changed from 41.3% to 52.9%. The business retained more gross profit from each unit of revenue.
EBITDA changed from 3.2 billion dollars to 4.5 billion dollars (+43.7%). EBITDA expanded faster than the top line. EBITDA margin was 25.1% at the start and 28.3% at the end. The increased EBITDA share is a positive sign.
The five-year change in net income was +45.4%: from 2.1 billion dollars to 3.1 billion dollars. Profit outpaced sales and strengthened the quality of growth.
Over the period, capitalization shifted from $62.4 billion to $87.4 billion (+40%). Higher capitalization indicates improving investor confidence.
Conclusion
The results present an uneven picture without one dominant signal. The constructive conclusion rests on better sales economics, higher operating efficiency and net-income growth. The most visible risks are a softer top-line trend. Further direction will depend on top-line growth, operating profitability, and net income.
Annual Income Statement Illinois Tool Works
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
87.4 B | 76.7 B | 77.2 B | 72.8 B | 67.8 B | 62.4 B | 57.6 B | 45.4 B | 60.3 B | 45.7 B | 33.1 B | 37.4 B | 35.4 B | 29.9 B | 26.1 B | 22.6 B | 17.9 B | 27.1 B | - | - |
Shares |
292 M | 297 M | 303 M | 310 M | 315 M | 317 M | 324 M | 335 M | 344 M | 355 M | 368 M | 402 M | 446 M | 470 M | 491 M | 501 M | 500 M | 519 M | - | - |
Historical Prices |
300 | 258 | 255 | 235 | 215 | 197 | 159 | 133 | 146 | 117 | 81.5 | 83.6 | 68.4 | 49.8 | 43.9 | 45.2 | 35.8 | 52.2 | 52.6 | 50.4 |
Net Income |
3.07 B | 3.49 B | 2.96 B | 3.03 B | 2.69 B | 2.11 B | 2.52 B | 2.56 B | 1.69 B | 2.04 B | 1.9 B | 2.95 B | 1.68 B | 2.87 B | 2.07 B | 1.5 B | 973 M | 1.52 B | 1.87 B | - |
Revenue |
16 B | 15.9 B | 16.1 B | 15.9 B | 14.5 B | 12.6 B | 14.1 B | 14.8 B | 14.3 B | 13.6 B | 13.4 B | 14.5 B | 14.1 B | 17.9 B | 17.8 B | - | - | - | - | - |
Cost of Revenue |
7.56 B | 7.6 B | 7.94 B | 8.14 B | 8.49 B | 7.38 B | 8.19 B | 8.6 B | 8.31 B | 7.91 B | 7.89 B | 8.67 B | 8.55 B | 9.13 B | 9.09 B | 10 B | 8.95 B | 11.2 B | 10.4 B | - |
Gross Profit |
- | - | - | - | - | - | 5.92 B | 6.16 B | 6 B | 5.7 B | 5.52 B | 5.81 B | 5.58 B | 6.47 B | 6.27 B | - | - | - | - | - |
Operating Income |
4.22 B | 4.26 B | 4.04 B | 3.79 B | 3.48 B | 2.88 B | 3.4 B | 3.58 B | 3.48 B | 3.06 B | 2.87 B | 2.89 B | 2.51 B | 2.48 B | 2.36 B | 2.25 B | 1.38 B | 2.5 B | 2.63 B | - |
Interest Expense |
-5 M | -1 M | 266 M | 203 M | 202 M | 206 M | 221 M | 257 M | 260 M | 237 M | 226 M | 250 M | 239 M | 213 M | 191 M | 175 M | 165 M | 154 M | 102 M | - |
EBITDA |
4.53 B | 4.56 B | 4.32 B | 4.07 B | 3.75 B | 3.16 B | 3.56 B | 3.77 B | 3.6 B | 3.29 B | 3.1 B | 3.13 B | 2.77 B | 3.14 B | 2.99 B | 2.59 B | 1.76 B | 2.87 B | 2.99 B | - |
Operating Expenses |
- | - | - | - | - | - | 2.52 B | 2.58 B | 2.61 B | 2.64 B | 2.65 B | 2.92 B | 3.06 B | 3.62 B | 3.54 B | - | - | - | - | - |
General and Administrative Expenses |
- | - | - | - | - | - | 2.36 B | 2.39 B | 2.4 B | 2.42 B | 2.42 B | 2.68 B | 2.82 B | 3.33 B | 3.28 B | - | - | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Income Statement Illinois Tool Works
| 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q3 | 2010-Q2 | 2010-Q1 | 2009-Q3 | 2009-Q2 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
286 M | 288 M | 291 M | 292 M | 294 M | 294 M | 296 M | 298 M | 299 M | 299 M | 302 M | 303 M | 305 M | 305 M | 309 M | - | 312 M | 313 M | 315 M | 316 M | 317 M | 317 M | 316 M | 316 M | 318 M | 320 M | 322 M | 325 M | 327 M | 328 M | 333 M | 337 M | 340 M | 342 M | 343 M | 345 M | 346 M | 347 M | 354 M | 357 M | 362 M | 364 M | 365 M | 366 M | 377 M | 383 M | 394 M | 405 M | 422 M | - | 446 M | 450 M | 452 M | - | 465 M | 473 M | 482 M | - | 486 M | 498 M | 499 M | 501 M | 503 M | 502 M | 500 M | 499 M |
Net Income |
815 M | 768 M | 821 M | 755 M | 700 M | - | 1.16 B | 759 M | 819 M | - | 772 M | 754 M | 714 M | - | 727 M | - | 662 M | - | 639 M | 775 M | 671 M | 642 M | 582 M | 319 M | 566 M | 641 M | 660 M | 623 M | 597 M | 607 M | 638 M | 666 M | 652 M | -76 M | 640 M | 587 M | 536 M | 507 M | 535 M | 525 M | 468 M | 450 M | 511 M | 480 M | 458 M | 450 M | 531 M | 1.49 B | 473 M | 408 M | 452 M | 465 M | 354 M | - | 524 M | 881 M | 486 M | - | 507 M | 499 M | 623 M | 419 M | 421 M | 294 M | 302 M | 177 M |
Revenue |
4.3 B | 4.02 B | 4.06 B | 4.05 B | 3.84 B | - | 3.97 B | 4.03 B | 3.97 B | - | 4.03 B | 4.07 B | 4.02 B | - | 4.01 B | - | 3.94 B | - | 3.56 B | 3.68 B | 3.54 B | 3.48 B | 3.31 B | 2.56 B | 3.23 B | 3.47 B | 3.48 B | 3.61 B | 3.55 B | 3.58 B | 3.61 B | 3.83 B | 3.74 B | 3.63 B | 3.62 B | 3.6 B | 3.47 B | 3.4 B | 3.5 B | 3.43 B | 3.27 B | 3.28 B | 3.35 B | 3.43 B | 3.34 B | 3.5 B | 3.69 B | 3.72 B | 3.57 B | 3.55 B | 3.57 B | 3.59 B | 3.42 B | - | 3.73 B | 4.46 B | 4.36 B | - | 4.58 B | 4.62 B | 4.27 B | - | - | - | - | - |
Cost of Revenue |
2.03 B | 1.89 B | 1.9 B | 1.91 B | 1.82 B | - | 1.88 B | 2.26 B | 1.92 B | - | 2.32 B | 2.34 B | 2.34 B | - | 2.37 B | - | 2.36 B | - | 2.1 B | 2.16 B | 2.04 B | 2 B | 1.91 B | 1.59 B | 1.87 B | 2.02 B | 2.01 B | 2.1 B | 2.06 B | 2.1 B | 2.1 B | 2.23 B | 2.18 B | 2.12 B | 2.09 B | 2.09 B | 2 B | 2.01 B | 2.03 B | 1.97 B | 1.9 B | 1.94 B | 1.95 B | 2.02 B | 1.97 B | 2.11 B | 2.18 B | 2.22 B | 2.16 B | 2.17 B | 2.15 B | 2.16 B | 2.08 B | - | 2.29 B | 2.81 B | 2.76 B | - | 2.96 B | 3 B | 2.76 B | 2.58 B | 2.6 B | 2.32 B | 2.32 B | 2.25 B |
Operating Income |
1.15 B | 1.02 B | 1.11 B | 1.07 B | 951 M | - | 1.05 B | 1.05 B | 1.13 B | - | 1.07 B | 1.01 B | 972 M | - | 983 M | - | 895 M | - | 845 M | 893 M | 905 M | 883 M | 789 M | 449 M | 761 M | 824 M | 868 M | 871 M | 839 M | 860 M | 889 M | 932 M | 903 M | 846 M | 960 M | 872 M | 807 M | 742 M | 808 M | 792 M | 722 M | 679 M | 761 M | 730 M | 697 M | 686 M | 772 M | 763 M | 667 M | 628 M | 678 M | 630 M | 578 M | - | 667 M | 758 M | 694 M | - | 714 M | 711 M | 659 M | 641 M | 653 M | 484 M | 484 M | 335 M |
Interest Expense |
- | - | - | - | - | - | - | - | 71 M | - | 67 M | 69 M | 60 M | - | 52 M | - | 48 M | - | 49 M | 52 M | 52 M | - | 52 M | 51 M | 51 M | - | 52 M | 55 M | 63 M | - | 64 M | 64 M | 66 M | - | 65 M | 65 M | 64 M | - | 58 M | 58 M | 58 M | - | 59 M | 55 M | 54 M | - | 68 M | 64 M | 64 M | - | 60 M | 59 M | 60 M | - | 52 M | 50 M | 50 M | - | 49 M | 45 M | 44 M | 43.2 M | 43.7 M | 44.6 M | -45.7 M | -43.9 M |
EBITDA |
1.31 B | 1.1 B | - | 1.22 B | 1.02 B | - | - | 1.2 B | 1.2 B | - | - | 1.15 B | 1.04 B | - | 1.19 B | - | 966 M | - | 1.05 B | 893 M | 971 M | 883 M | 992 M | 582 M | 829 M | 824 M | 1.07 B | 1 B | 906 M | 860 M | 1.09 B | 1.07 B | 970 M | 846 M | 1.15 B | 995 M | 868 M | 742 M | 990 M | 910 M | 780 M | 679 M | 941 M | 849 M | 756 M | 686 M | 974 M | 900 M | 735 M | 628 M | 907 M | 784 M | 654 M | - | 909 M | 920 M | 775 M | - | 967 M | 878 M | 742 M | 889 M | 820 M | 568 M | 756 M | 517 M |
Quarterly performance
Select metrics to display
All numbers in USD currency
The income statement is one of the three key financial reports of a company Illinois Tool Works (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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