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Illinois Tool Works ITW Test & Measurement and Electronics — Operating Income

Other segment segments

Food Equipment
$188M-0.5%
Automotive OEM
$185M+2.8%
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$178M+11.9%
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$151M+4.1%
Specialty Products
$148M0.0%
Polymers & Fluids
$140M+15.7%

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Other financials

Income statement

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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

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Cash & equivalents$839.0M+6.5%
Total debt$9.7B+26.0%
Total assets$16.5B+2.8%

Cash flow

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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

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Gross margin44.2%+0.4pp
Operating margin26.5%+0.5pp
Net margin19.4%-1.9pp
FCF margin17.7%+0.5pp

Returns & leverage

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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 millionsThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Operating income:
Automotive OEM$185$180$358$331
Food Equipment188189345355
Test & Measurement and Electronics193157357296
Welding178159341312
Polymers & Fluids140121266235
Construction Products151145286275
Specialty Products148148283283

ITEM 1. Financial Statements

FAQ

What is Illinois Tool Works's test & measurement and electronics — operating income?
Illinois Tool Works (ITW) reported test & measurement and electronics — operating income of $193M in Q2 2026.
How has Illinois Tool Works's test & measurement and electronics — operating income changed year-over-year?
Illinois Tool Works's test & measurement and electronics — operating income increased by 22.9% year-over-year, from $157M to $193M.
What is the long-term trend for Illinois Tool Works's test & measurement and electronics — operating income?
Over 4 years (2021 to 2025), Illinois Tool Works's test & measurement and electronics — operating income has grown at a 1.9% compound annual growth rate (CAGR), from $643M to $694M.
What does test & measurement and electronics — operating income mean?
This is the profit generated by the Test and Measurement and Electronics segment after deducting both variable costs and overhead expenses from total revenue. It reflects the core operational profitability and efficiency of the segment before interest and taxes.

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