ILLINOIS TOOL WORKS INC

Listed Company

ITWCIK 0000049826NYSELarge AcceleratedGeneral Industrial Machinery & EquipmentDelawareFY ends Dec 31

Period

FY 2025

Revenue

$16.04B

Net Income

$3.07B

Total Assets

$16.15B

Equity

$3.23B

Shares Out

288.20M

Op. Cash Flow

$3.13B

Business

ILLINOIS TOOL WORKS INC is a global manufacturer of a diversified range of industrial products and equipment serving multiple end markets. It offers components, fasteners and assemblies; commercial food and refrigeration equipment; test, measurement and electronic assembly equipment and software; welding equipment and consumables; engineered adhesives, sealants and fluids; engineered fastening systems; and specialty packaging, coding and appliance components, plus related services. The company operates through seven reportable segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. Its products are sold worldwide to industrial manufacturers and through independent distributors to food service, automotive, construction, electronics and other industry customers.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Operating Revenue	16,044	15,898	16,107	15,932	14,455
Cost of revenue	8,969	8,858	9,316	9,429	8,489
Selling, administrative, and research and development expenses	2,779	2,675	2,638	2,579	2,356
Amortization and impairment of intangible assets	80	101	113	134	133
Operating Income	4,216	4,264	4,040	3,790	3,477
Interest expense	−292	−283	−266	−203	—
Other income (expense)	42	441	49	255	—
Income Before Taxes	3,966	4,422	3,823	3,842	3,326
Income taxes	900	934	866	808	632
Net Income	3,066	3,488	2,957	3,034	2,694
Basic (in dollars per share)	10.52	11.75	9.77	9.8	8.55
Diluted (in dollars per share)	10.49	11.71	9.74	9.77	8.51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and equivalents	851	948	1,065	708	1,527
Trade receivables	3,227	2,991	3,123	3,171	2,840
Inventories	1,659	1,605	1,707	2,054	1,694
Prepaid expenses and other current assets	463	312	340	329	313
Total current assets	6,200	5,856	6,235	6,270	6,374
Net plant and equipment	2,230	2,036	1,976	1,848	1,809
Goodwill	5,098	4,839	4,909	4,864	4,965
Intangible assets	591	592	657	768	972
Deferred income taxes	519	369	479	494	552
Other assets	1,510	1,375	1,262	1,178	1,405
Total assets	16,148	15,067	15,518	15,422	16,077
Short-term debt	2,286	1,555	1,825	1,590	778
Accounts payable	522	519	581	594	585
Accrued expenses	1,636	1,576	1,663	1,728	1,648
Cash dividends payable	465	441	419	—	—
Income taxes payable	217	217	187	147	77
Total current liabilities	5,126	4,308	4,675	4,460	3,470
Long-term debt	6,683	6,308	6,339	6,173	6,909
Deferred income taxes	154	119	326	484	654
Other liabilities	959	1,015	1,014	943	1,053
Total noncurrent liabilities	7,796	7,442	7,830	7,873	8,981
Common stock (Authorized- 700.0 shares; par value of $0.01 per share): Issued- 550.0 shares in 2025 and 2024 Outstanding- 288.6 shares in 2025 and 294.0 shares in 2024	6	6	6	6	6
Additional paid-in-capital	1,771	1,669	1,588	1,501	1,432
Retained earnings	30,150	28,893	27,122	25,799	24,325
Common stock held in treasury	−26,875	−25,375	−23,870	−22,377	−20,636
Accumulated other comprehensive income (loss)	−1,827	−1,877	−1,834	−1,841	−1,502
Noncontrolling interest	1	1	1	1	1
Total stockholders' equity	3,226	3,317	3,013	3,089	3,626
Total liabilities and stockholders' equity	16,148	15,067	15,518	15,422	16,077

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	317	301	282	276	277
Change in deferred income taxes	−17	−176	−88	−150	−148
Provision for uncollectible accounts	5	−1	6	5	3
(Income) loss from investments	0	0	−2	−9	—
(Gain) loss on sale of plant and equipment	3	0	−1	−1	0
(Gain) loss on sale of operations and affiliates	0	0	−1	−191	0
Gain on sale of noncontrolling interest in Wilsonart International Holdings LLC	0	−363	0	0	—
Stock-based compensation expense	69	61	69	63	53
Cumulative effect of change in inventory accounting method	0	−117	0	0	—
Other non-cash items, net	9	6	−4	5	13
Trade receivables	−92	34	64	−461	−240
Inventories	34	176	360	−455	−450
Prepaid expenses and other assets	−136	−41	−26	−19	−36
Accounts payable	−29	−43	−14	35	37
Accrued expenses and other liabilities	−48	−74	−102	119	202
Income taxes	−135	−70	−72	−35	49
Other, net	0	−1	−2	−2	−1
Net cash provided by operating activities	3,126	3,281	3,539	2,348	2,557
Acquisition of businesses (excluding cash and equivalents)	−119	−115	0	−2	−731
Additions to plant and equipment	−419	−437	−455	−412	−296
Proceeds from investments	7	11	27	12	38
Proceeds from sale of plant and equipment	11	12	20	15	8
Proceeds from sale of operations and affiliates	1	0	7	—	—
Proceeds from sale of noncontrolling interest in Wilsonart International Holdings LLC	0	395	0	0	—
Other, net	−2	−10	−2	−1	−3
Net cash provided by (used for) investing activities	−521	−144	−403	−110	−984
Cash dividends paid	−1,785	−1,695	−1,615	−1,542	−1,463
Issuance of common stock	65	52	53	29	50
Repurchases of common stock	−1,500	−1,500	−1,500	−1,750	−1,000
Net proceeds from (repayments of) debt with original maturities of three months or less	508	312	−452	796	120
Proceeds from debt with original maturities of more than three months	0	1,606	1,425	593	90
Repayments of debt with original maturities of more than three months	0	−1,926	−679	−1,113	−351
Other, net	−32	−38	−14	−13	−10
Net cash provided by (used for) financing activities	−2,744	−3,189	−2,782	−3,000	−2,564
Effect of Exchange Rate Changes on Cash and Equivalents	42	−65	3	−57	−46
Increase (decrease) during the year	−97	−117	357	−819	−1,037
Cash Paid During the Year for Interest	279	248	260	199	197
Cash Paid During the Year for Income Taxes, Net of Refunds	1,052	1,180	1,026	993	731

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro