Illinois Tool Works Inc. (ITW) — Financial statements
Income statement, balance sheet, and cash flow for Illinois Tool Works Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 16,044↑0.9% | 15,898↓1.3% | 16,107↑1.1% | 15,932↑10.2% | 14,455 | |
| Cost of Revenue | 8,969↑0.1% | 8,959↓5.0% | 9,429↓1.4% | 9,563↑10.9% | 8,622 | |
| Gross Profit | 7,075↑2.0% | 6,939↑3.9% | 6,678↑4.9% | 6,369↑9.2% | 5,833 | |
| Operating Expenses | ||||||
| R&D Expenses | 0.00↓100.0% | 292↑2.8% | 284↑5.6% | 269↑12.6% | 239 | |
| General & Administrative Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Selling & Marketing Expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| SG&A Expenses | 2,779↑16.6% | 2,383↑1.2% | 2,354↑1.9% | 2,310↑9.1% | 2,117 | |
| Other Expenses | 80 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Operating Expenses | 2,859↑6.9% | 2,675↑1.4% | 2,638↑2.3% | 2,579↑9.5% | 2,356 | |
| Total Costs & Expenses | 11,828↑1.7% | 11,634↓3.6% | 12,067↓0.6% | 12,142↑10.6% | 10,978 | |
| Operating Results | ||||||
| Operating Income | 4,216↓1.1% | 4,264↑5.5% | 4,040↑6.6% | 3,790↑9.0% | 3,477 | |
| Depreciation & Amortization | 392↓2.5% | 402↑1.8% | 395↓3.7% | 410↑0.0% | 410 | |
| EBITDA | 4,650↓8.9% | 5,107↑13.9% | 4,484↑0.7% | 4,455↑13.1% | 3,938 | |
| EBIT | 4,258↓9.5% | 4,705↑15.1% | 4,089↑1.1% | 4,045↑14.7% | 3,528 | |
| Interest & Other Income | ||||||
| Net Interest Income | -292↓22.2% | -239↓12.2% | -213↓23.8% | -172↓6.8% | -161 | |
| Interest Income | 0.00↓100.0% | 44↓17.0% | 53↑71.0% | 31↓24.4% | 41 | |
| Interest Expense | 292↑3.2% | 283↑6.4% | 266↑31.0% | 203↑0.5% | 202 | |
| Non-Operating Income | -42↑90.5% | -441↓800.0% | -49↑80.8% | -255↓400.0% | -51 | |
| Other Income / Expenses | -250↓258.2% | 158↑172.8% | -217↓517.3% | 52↑134.4% | -151 | |
| Income Before Tax | 3,966↓10.3% | 4,422↑15.7% | 3,823↓0.5% | 3,842↑15.5% | 3,326 | |
| Income Tax Expense | 900↓3.6% | 934↑7.9% | 866↑7.2% | 808↑27.8% | 632 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 3,066↓12.1% | 3,488↑18.0% | 2,957↓2.5% | 3,034↑12.6% | 2,694 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 3,066↓12.1% | 3,488↑18.0% | 2,957↓2.5% | 3,034↑12.6% | 2,694 | |
| Bottom-Line Net Income | 3,066↓12.1% | 3,488↑18.0% | 2,957↓2.5% | 3,034↑12.6% | 2,694 | |
| EPS (Basic) | 10.52↓10.5% | 11.75↑20.3% | 9.77↓0.3% | 9.80↑14.6% | 8.55 | |
| EPS (Diluted) | 10.49↓10.4% | 11.71↑20.2% | 9.74↓0.3% | 9.77↑14.8% | 8.51 | |
| Weighted Average Shares | 292↓1.5% | 297↓1.9% | 303↓2.3% | 310↓1.7% | 315 | |
| Weighted Average Diluted Shares | 292↓1.8% | 298↓1.9% | 304↓2.3% | 311↓1.8% | 316 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.