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Illinois Tool Works logo

Illinois Tool Works Income Statement

Revenue, expenses, and profitability over time

Illinois Tool Works generated $16.2B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $3.1B with a 19.32% net margin. Gross margin stands at 44.12% and operating margin at 26.42%. Diluted EPS is $10.77, which declined 0.1% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$16.2BGross Profit (TTM)$7.2BOperating Income (TTM)$4.3BNet Income (TTM)$3.1BEps Diluted (TTM)$10.77
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$73.2B
P/E Ratio23.36

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Capital Expenditures$118M$96M$101M$117M$105M$95M
Common Stock Dividends Per Share—$1.5$1.5$1.6—$1.6
Comprehensive Income Including Noncontrolling Interest—$699M$765M$813M—$793M
Dividends per share declared—$1.5$1.5$1.6—$1.6
OCI - Defined benefit plan, net of tax—$1M$0$0—-$1M
Other comprehensive income (loss), net of tax—$0$10M-$8M—$24M
Comprehensive Income Attributable to Parent—$699M$765M$813M—$793M
Other Comprehensive Income (Loss)—$1M$0$0—-$1M
Comprehensive Income Including Noncontrolling Interest—$699M$765M$813M—$793M
OCI Defined Benefit Plan Net of Tax—$1M$0$0—-$1M
Dividends per share declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Income Taxes Paid, Net$220M$139M$523M$200M$190M$205M
Interest Paid, Net$32M$53M$128M$62M$36M$59M
Comprehensive income (loss), including noncontrolling interest—$699M$765M$813M—$793M
Share-based compensation expense related to employee stock plans—$16M$19M$17M—$18M
Amortization and impairment of intangible assets$25M$21M$21M$18M$20M$18M
Stock options excluded as their inclusion would be anti-dilutive (in shares)—200K700K400K—500K
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—-$75M-$85M——-$24M
Dividends declared (in dollars per share)—$1.5$1.5$1.6—$1.6
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest—$699M$765M$813M—$793M
Overhead expenses—$1B$1B$1B—$1.1B
Depreciation$77M$74M$78M$82M$83M$81M
Depreciation and Amortization and Impairment of Goodwill and Intangible Assets—$95M$99M$100M—$99M
Discrete income tax benefits from stock-based compensation—$4M———$4M
Discrete tax (benefit) expense—-$21M—-$43M—-$34M
Dividends, Common Stock, Cash—$439M$438M$467M—$464M
Effect of exchange rate changes on cash, cash equivalents and restricted cash—$13M$20M$6M—-$1M
Effective tax rates—$0.2$0.2$0.2—$0.2
Gain (Loss) On Investments, Excluding Equity Method Investments$0-$1M$1M$1M-$1M-$1M
Gain Loss On Sale Of Property Plant Equipment-$1M$0-$2M$0-$1M$0
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax—$895M$998M$1B—$967M
Income Taxes Paid, Net$220M$139M$523M$200M$190M$205M
Increase (Decrease) in Accounts Payable, Trade-$14M$64M——-$89M$91M
Increase Decrease In Accrued Income Taxes Payable—$72M-$266M——-$6M
Increase (Decrease) in Deferred Income Taxes—$17M$13M$9M—-$1M
Increase (Decrease) in Inventories-$154M$37M-$7M$18M-$82M$75M
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities—-$123M———-$100M
Increase (Decrease) in Other Operating Assets and Liabilities, Net$1M-$1M$1M$0$0$0
Increase (Decrease) in Prepaid Expense and Other Assets$12M$65M——$76M$12M
Add - Incremental shares under stock-based compensation plans (in shares)—900K600K900K—800K
Interest Paid, Excluding Capitalized Interest, Operating Activity$32M$53M$128M$62M$36M$59M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$943M-$588M-$563M-$775M-$818M-$547M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$117M-$92M-$92M-$116M-$221M-$99M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.1B$592M$550M$1B$963M$623M
Number of completed acquisitions———1.00——
Number of operating segments—————7.00
Number of reportable segments—7.00———7.00
Number of company divisions—86.00———88.00
Foreign currency translation gains (losses)—$0$10M-$8M—$24M
Other comprehensive income (loss)—-$1M$10M-$8M—$25M
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax—$1M$0$0—-$1M
All other operating activities$2M$3M$1M$1M$4M$2M
Payment for (Proceeds from) Other Investing Activity$2M$1M——$1M$6M
Payments for Repurchase of Common Stock$375M$375M$375M$375M$375M$375M
Payments of Ordinary Dividends, Common Stock$443M$441M$439M$438M$467M$465M
Payments to Acquire Businesses, Net of Cash Acquired—-$2M—$120M$120M$0
Payments to Acquire Property, Plant, and Equipment$118M$96M$101M$117M$105M$95M
Proceeds from Issuance of Common Stock$9M$44M$3M$13M$5M$52M
Financing — other-$14M-$18M-$14M——-$18M
Short-term borrowings/(repayments) less than 90 days — net$511M$202M$262M$25M$19M$259M
Proceeds from disposition of marketable securities and other investments$1M$0$5M$1M$1M$0
Dispositions of property, plant, and equipment$2M$3M$4M$0$4M$2M
Net additions (releases) charged to costs and expenses—$2M$1M$1M$1M$1M
Revenue From Contract With Customer Excluding Assessed Tax$3.9B$3.8B$4.1B$4.1B$4.1B$4B
Selling Administrative and Research and Development Expenses$655M$706M$693M$676M$704M$722M
Stock-based compensation$13M$16M$19M$17M$17M$18M
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture—$27M$1M$14M—$34M
Treasury stock, value, acquired—$375M$375M$375M—$375M
Treasury Stock, Value, Acquired, Cost Method, Excise Tax—$3M$3M$4M—$2M
Comprehensive Income (Loss), Total—$699M$765M$813M—$793M
Cash Dividends, Common Stock$443M$441M$439M$438M$467M$465M
Comprehensive Income, Including Noncontrolling Interest—$699M$765M$813M—$793M
Foreign Currency Translation Adjustment, Net of Tax—$0$10M-$8M—$24M
OCI Defined Benefit Plan, After Tax—$1M$0$0—-$1M
OCI Pension Adjustments—$1M$0$0—-$1M
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Comprehensive Income Including Noncontrolling Interest—$699M$765M$813M—$793M
Total Comprehensive Income—$699M$765M$813M—$793M
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
OCI Pension Reclassification Adjustment, Pre-tax—$1M$0$0—-$1M

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share (Declared)—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Basic earnings per share$2.55$2.39$2.58$2.82$2.73$2.66
Diluted earnings per share$2.54$2.38$2.58$2.81$2.72$2.66
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common stock dividends per share declared—$1.5$1.5$1.6—$1.6
Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Dividends per share declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Dividends per share declared—$1.5$1.5$1.6—$1.6
Dividends per share declared—$1.5$1.5$1.6—$1.6
Dividends per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common stock dividends per share declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Common stock dividends per share declared—$1.5$1.5$1.6—$1.6
Weighted-average shares, basic—293.6M292.3M290.8M—288.3M
Weighted-average shares, diluted—294.5M292.9M291.7M—289.1M

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Stock-Based Compensation Expense$13M$16M$19M$17M$17M$18M
Share-Based Compensation Expense$13M$16M$19M$17M$17M$18M
Stock-based compensation expense—$27M$1M$14M—$34M
Stock-based compensation expense$13M$16M$19M$17M$17M$18M
Share-Based Compensation Expense—$27M$1M$14M—$34M
Share-Based Compensation$13M$16M$19M$17M$17M$18M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effective Tax Rate (Continuing Operations)—$0.2$0.2$0.2—$0.2
Effective Tax Rate—$0.2$0.2$0.2—$0.2
Cash Paid for Income Taxes$220M$139M$523M$200M$190M$205M
Effective Tax Rate, Continuing Operations—$0.2$0.2$0.2—$0.2
Effective Income Tax Rate, Continuing Operations—$0.2$0.2$0.2—$0.2
Effective Tax Rate—$0.2$0.2$0.2—$0.2
Effective Tax Rate (Continuing Operations)—$0.2$0.2$0.2—$0.2
Income Taxes Paid, Net$220M$139M$523M$200M$190M$205M
Income tax expense$233M$195M$243M$228M$234M$199M
Effective Tax Rate (Continuing Operations)—$0.2$0.2$0.2—$0.2
Effective Tax Rate (Continuing Operations)—$0.2$0.2$0.2—$0.2
Income Taxes Paid, Net$220M$139M$523M$200M$190M$205M
Effective Income Tax Rate—$0.2$0.2$0.2—$0.2
Effective Tax Rate, Continuing Operations—$0.2$0.2$0.2—$0.2
Income and Other Taxes$220M$139M$523M$200M$190M$205M
Effective Tax Rate Continuing Operations—$0.2$0.2$0.2—$0.2

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash Paid for Interest$32M$53M$128M$62M$36M$59M
Interest expense$68M$68M$74M$75M$75M$73M
Change in Receivables-$127M$120M$70M——$165M
OCI Defined Benefit Plans—$1M$0$0—-$1M
Other income (expense), net$20M$12M$4M$12M$14M$20M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Dividends Declared (Per Share)—$1.5$1.5$1.6—$1.6
Comprehensive income (loss), including noncontrolling interest—$699M$765M$813M—$793M
Common Stock Dividends$443M$441M$439M$438M$467M$465M
Net income$750M$700M$755M$821M$790M$768M
Common Stock Dividends$443M$441M$439M$438M$467M$465M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.7B$1.7B$1.8B$1.8B$1.8B$1.8B
Operating income$1B$951M$1.1B$1.1B$1.1B$1B

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$2.2B$2.2B$2.3B$2.3B$2.3B$2.3B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$3.9B$3.8B$4.1B$4.1B$4.1B$4B