What does polymers & fluids — operating income mean?

This metric measures the profitability of the Polymers and Fluids segment by subtracting operating expenses and cost of goods sold from total segment revenue. It serves as a primary indicator of the segment's core operational performance and its contribution to the overall enterprise value. Investors use this to evaluate the segment's competitive strength and management's ability to drive sustainable margins.

Illinois Tool Works (ITW) Polymers & Fluids — Operating Income

Screener

Other segment segments

Test & Measurement and Electronics

$193M+22.9%

Food Equipment

$188M-0.5%

Automotive OEM

$185M+2.8%

Welding

$178M+11.9%

Construction Products

$151M+4.1%

Specialty Products

$148M0.0%

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DWSNCanada Operations — Operating Income

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Other financials

Income statement

See full

Revenue$4.3B+6.1%

Gross profit$1.9B+6.5%

Operating income$1.1B+7.4%

Net income$815.0M+7.9%

EPS (diluted)$2.84+10.1%

Balance sheet

See full

Cash & equivalents$839.0M+6.5%

Total debt$9.7B+26.0%

Total assets$16.5B+2.8%

Cash flow

See full

Operating cash flow$723.0M+31.5%

CapEx$92.0M-8.9%

Free cash flow$631.0M+40.5%

Valuation

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Market cap$85.54B+14.0%

Enterprise value$94.39B+15.2%

P/E26.8×+4.5×

P/S5.2×+0.4×

Profitability

See full

Gross margin44.2%+0.4pp

Operating margin26.5%+0.5pp

Net margin19.4%-1.9pp

FCF margin17.7%+0.5pp

Returns & leverage

See full

Current ratio1.1×-0.5×

Where this comes from

Reported directly by Illinois Tool Works in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Illinois Tool Works’s 10-Q, filed August 6, 2026.

Filed: Aug 6, 2026, 3:34 PM EDT
Fiscal quarter: Q2 FY2026
Calendar quarter: Q2 2026
Accession: 0000049826-26-000049

In millions	Three Months Ended / June 30, 2026	Three Months Ended / June 30, 2025	Six Months Ended / June 30, 2026	Six Months Ended / June 30, 2025
Food Equipment	188	189	345	355
Test & Measurement and Electronics	193	157	357	296
Welding	178	159	341	312
Polymers & Fluids	140	121	266	235
Construction Products	151	145	286	275
Specialty Products	148	148	283	283
Total segments	1,183	1,099	2,236	2,087
Unallocated	(36)	(31)	(69)	(68)

ITEM 1. Financial Statements

FAQ

What is Illinois Tool Works's polymers & fluids — operating income?: Illinois Tool Works (ITW) reported polymers & fluids — operating income of $140M in Q2 2026.
What does polymers & fluids — operating income mean?: This metric measures the profitability of the Polymers and Fluids segment by subtracting operating expenses and cost of goods sold from total segment revenue. It serves as a primary indicator of the segment's core operational performance and its contribution to the overall enterprise value. Investors use this to evaluate the segment's competitive strength and management's ability to drive sustainable margins.