Income StatementBalance SheetCash FlowSegments
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$72.6B
P/E Ratio23.15

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Capital Expenditures$118.0M$96.0M$101.0M$117.0M$105.0M$95.0M
Common Stock Dividends Per Share—$1.5$1.5$1.6—$1.6
Comprehensive Income Including Noncontrolling Interest—$699.0M$765.0M$813.0M—$793.0M
Dividends per share declared—$1.5$1.5$1.6—$1.6
OCI - Defined benefit plan, net of tax—$1.0M$0.0$0.0—-$1.0M
Other comprehensive income (loss), net of tax—$0.0$10.0M-$8.0M—$24.0M
Comprehensive Income Attributable to Parent—$699.0M$765.0M$813.0M—$793.0M
Other Comprehensive Income (Loss)—$1.0M$0.0$0.0—-$1.0M
Comprehensive Income Including Noncontrolling Interest—$699.0M$765.0M$813.0M—$793.0M
OCI Defined Benefit Plan Net of Tax—$1.0M$0.0$0.0—-$1.0M
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$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
Interest Paid, Net$32.0M$53.0M$128.0M$62.0M$36.0M$59.0M
Comprehensive income (loss), including noncontrolling interest—$699.0M$765.0M$813.0M—$793.0M
Share-based compensation expense related to employee stock plans—$16.0M$19.0M$17.0M—$18.0M
Amortization and impairment of intangible assets$25.0M$21.0M$21.0M$18.0M$20.0M$18.0M
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—-$75.0M-$85.0M——-$24.0M
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—$699.0M$765.0M$813.0M—$793.0M
Overhead expenses—$1.0B$1.0B$1.0B—$1.1B
Depreciation$77.0M$74.0M$78.0M$82.0M$83.0M$81.0M
Depreciation and Amortization and Impairment of Goodwill and Intangible Assets—$95.0M$99.0M$100.0M—$99.0M
Discrete income tax benefits from stock-based compensation—$4.0M———$4.0M
Discrete tax (benefit) expense—-$21.0M—-$43.0M—-$34.0M
Dividends, Common Stock, Cash—$439.0M$438.0M$467.0M—$464.0M
Effect of exchange rate changes on cash, cash equivalents and restricted cash—$13.0M$20.0M$6.0M—-$1.0M
Effective tax rates—$0.2$0.2$0.2—$0.2
Gain (Loss) On Investments, Excluding Equity Method Investments$0.0-$1.0M$1.0M$1.0M-$1.0M-$1.0M
Gain Loss On Sale Of Property Plant Equipment-$1.0M$0.0-$2.0M$0.0-$1.0M$0.0
Income (Loss), Including Portion Attributable to Noncontrolling Interest, before Tax—$895.0M$998.0M$1.0B—$967.0M
Income Taxes Paid, Net$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
Increase (Decrease) in Accounts Payable, Trade-$14.0M$64.0M——-$89.0M$91.0M
Increase Decrease In Accrued Income Taxes Payable—$72.0M-$266.0M——-$6.0M
Increase (Decrease) in Deferred Income Taxes—$17.0M$13.0M$9.0M—-$1.0M
Increase (Decrease) in Inventories-$154.0M$37.0M-$7.0M$18.0M-$82.0M$75.0M
Increase (Decrease) in Other Accounts Payable and Accrued Liabilities—-$123.0M———-$100.0M
Increase (Decrease) in Other Operating Assets and Liabilities, Net$1.0M-$1.0M$1.0M$0.0$0.0$0.0
Increase (Decrease) in Prepaid Expense and Other Assets$12.0M$65.0M——$76.0M$12.0M
Add - Incremental shares under stock-based compensation plans (in shares)—900K600K900K—800K
Interest Paid, Excluding Capitalized Interest, Operating Activity$32.0M$53.0M$128.0M$62.0M$36.0M$59.0M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$943.0M-$588.0M-$563.0M-$775.0M-$818.0M-$547.0M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$117.0M-$92.0M-$92.0M-$116.0M-$221.0M-$99.0M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.1B$592.0M$550.0M$1.0B$963.0M$623.0M
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)—$0.0$10.0M-$8.0M—$24.0M
Other comprehensive income (loss)—-$1.0M$10.0M-$8.0M—$25.0M
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax—$1.0M$0.0$0.0—-$1.0M
All other operating activities$2.0M$3.0M$1.0M$1.0M$4.0M$2.0M
Payment for (Proceeds from) Other Investing Activity$2.0M$1.0M——$1.0M$6.0M
Payments for Repurchase of Common Stock$375.0M$375.0M$375.0M$375.0M$375.0M$375.0M
Payments of Ordinary Dividends, Common Stock$443.0M$441.0M$439.0M$438.0M$467.0M$465.0M
Payments to Acquire Businesses, Net of Cash Acquired—-$2.0M—$120.0M$120.0M$0.0
Payments to Acquire Property, Plant, and Equipment$118.0M$96.0M$101.0M$117.0M$105.0M$95.0M
Proceeds from Issuance of Common Stock$9.0M$44.0M$3.0M$13.0M$5.0M$52.0M
Financing — other-$14.0M-$18.0M-$14.0M——-$18.0M
Short-term borrowings/(repayments) less than 90 days — net$511.0M$202.0M$262.0M$25.0M$19.0M$259.0M
Proceeds from disposition of marketable securities and other investments$1.0M$0.0$5.0M$1.0M$1.0M$0.0
Dispositions of property, plant, and equipment$2.0M$3.0M$4.0M$0.0$4.0M$2.0M
Net additions (releases) charged to costs and expenses—$2.0M$1.0M$1.0M$1.0M$1.0M
Revenue From Contract With Customer Excluding Assessed Tax$3.9B$3.8B$4.1B$4.1B$4.1B$4.0B
Selling Administrative and Research and Development Expenses$655.0M$706.0M$693.0M$676.0M$704.0M$722.0M
Stock-based compensation$13.0M$16.0M$19.0M$17.0M$17.0M$18.0M
Shares Issued, Value, Share-Based Payment Arrangement, after Forfeiture—$27.0M$1.0M$14.0M—$34.0M
Treasury stock, value, acquired—$375.0M$375.0M$375.0M—$375.0M
Treasury Stock, Value, Acquired, Cost Method, Excise Tax—$3.0M$3.0M$4.0M—$2.0M
Comprehensive Income (Loss), Total—$699.0M$765.0M$813.0M—$793.0M
Cash Dividends, Common Stock$443.0M$441.0M$439.0M$438.0M$467.0M$465.0M
Comprehensive Income, Including Noncontrolling Interest—$699.0M$765.0M$813.0M—$793.0M
Foreign Currency Translation Adjustment, Net of Tax—$0.0$10.0M-$8.0M—$24.0M
OCI Defined Benefit Plan, After Tax—$1.0M$0.0$0.0—-$1.0M
OCI Pension Adjustments—$1.0M$0.0$0.0—-$1.0M
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
Comprehensive Income Including Noncontrolling Interest—$699.0M$765.0M$813.0M—$793.0M
Total Comprehensive Income—$699.0M$765.0M$813.0M—$793.0M
Common Stock Dividends Per Share Declared—$1.5$1.5$1.6—$1.6
OCI Pension Reclassification Adjustment, Pre-tax—$1.0M$0.0$0.0—-$1.0M

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$13.0M$16.0M$19.0M$17.0M$17.0M$18.0M
Share-Based Compensation Expense$13.0M$16.0M$19.0M$17.0M$17.0M$18.0M
Stock-based compensation expense—$27.0M$1.0M$14.0M—$34.0M
Stock-based compensation expense$13.0M$16.0M$19.0M$17.0M$17.0M$18.0M
Share-Based Compensation Expense—$27.0M$1.0M$14.0M—$34.0M
Share-Based Compensation$13.0M$16.0M$19.0M$17.0M$17.0M$18.0M

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$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
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$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
Income tax expense$233.0M$195.0M$243.0M$228.0M$234.0M$199.0M
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$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
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$220.0M$139.0M$523.0M$200.0M$190.0M$205.0M
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$32.0M$53.0M$128.0M$62.0M$36.0M$59.0M
Interest expense$68.0M$68.0M$74.0M$75.0M$75.0M$73.0M
Change in Receivables-$127.0M$120.0M$70.0M——$165.0M
OCI Defined Benefit Plans—$1.0M$0.0$0.0—-$1.0M
Other income (expense), net$20.0M$12.0M$4.0M$12.0M$14.0M$20.0M

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—$699.0M$765.0M$813.0M—$793.0M
Common Stock Dividends$443.0M$441.0M$439.0M$438.0M$467.0M$465.0M
Net income$750.0M$700.0M$755.0M$821.0M$790.0M$768.0M
Common Stock Dividends$443.0M$441.0M$439.0M$438.0M$467.0M$465.0M

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$1.0B$951.0M$1.1B$1.1B$1.1B$1.0B

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$4.0B