Financial Statements — ITW
Balance Sheet
(in billions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 0.83 | 0.92 | 0.79 | 0.87 | 0.95 | 0.86 | 0.96 | 0.99 | 0.92 | 1.14 | 0.77 | 0.88 | 1.30 | 1.99 | 2.06 | 2.48 |
| Accounts Receivable | 3.38 | 3.26 | 3.32 | 3.15 | 3.23 | 3.25 | 3.24 | 3.16 | 3.22 | 3.20 | 3.03 | 3.11 | 3.13 | 2.73 | 2.79 | 2.66 |
| Inventory | 1.73 | 1.73 | 1.71 | 1.66 | 1.82 | 1.82 | 1.83 | 1.80 | 1.92 | 2.00 | 2.01 | 1.98 | 1.88 | 1.52 | 1.40 | 1.29 |
| Total Current Assets | 6.34 | 6.32 | 6.23 | 6.04 | 6.30 | 6.26 | 6.37 | 6.29 | 6.40 | 6.69 | 6.20 | 6.37 | 6.68 | 6.58 | 6.51 | 6.70 |
| Property, Plant & Equipment | 2.23 | 2.20 | 2.18 | 2.09 | 2.07 | 2.01 | 1.97 | 1.90 | 1.90 | 1.89 | 1.71 | 1.74 | 1.80 | 1.74 | 1.77 | 1.75 |
| Goodwill | 5.08 | 5.03 | 5.04 | 4.90 | 4.98 | 4.91 | 4.90 | 4.83 | 4.89 | 4.88 | 4.76 | 4.87 | 5.01 | 4.61 | 4.66 | 4.63 |
| Intangible Assets | 0.57 | 0.54 | 0.56 | 0.57 | 0.62 | 0.64 | 0.65 | 0.68 | 0.71 | 0.74 | 0.80 | 0.83 | 0.88 | 0.68 | 0.72 | 0.75 |
| Total Non-current Assets* | 9.93 | 9.82 | 9.81 | 9.43 | 9.52 | 9.32 | 9.28 | 9.11 | 9.25 | 9.23 | 9.03 | 9.30 | 9.60 | 8.94 | 9.07 | 8.96 |
| Total Assets | 16.26 | 16.14 | 16.05 | 15.47 | 15.82 | 15.58 | 15.65 | 15.40 | 15.65 | 15.92 | 15.23 | 15.67 | 16.29 | 15.52 | 15.58 | 15.66 |
| Accounts Payable | 0.61 | 0.61 | 0.61 | 0.59 | 0.56 | 0.58 | 0.60 | 0.58 | 0.59 | 0.60 | 0.62 | 0.68 | 0.70 | 0.56 | 0.61 | 0.59 |
| Short-term Debt | 2.55 | 1.27 | 1.24 | 0.98 | 1.77 | 2.04 | 2.07 | 1.25 | 1.27 | 2.87 | 1.69 | 1.53 | 1.04 | 0.58 | 0.59 | 0.35 |
| Total Current Liabilities | 5.33 | 4.13 | 3.93 | 3.78 | 4.63 | 4.80 | 4.84 | 3.98 | 4.04 | 5.60 | 4.39 | 4.29 | 3.86 | 3.00 | 2.96 | 2.68 |
| Long-term Debt | 6.60 | 7.68 | 7.70 | 7.28 | 6.58 | 6.43 | 6.26 | 6.82 | 6.95 | 5.51 | 5.94 | 6.12 | 6.82 | 6.97 | 7.06 | 7.60 |
| Total Non-current Liabilities | 7.70 | 8.79 | 8.90 | 8.45 | 7.81 | 7.81 | 7.79 | 8.41 | 8.52 | 7.22 | 7.82 | 7.99 | 8.85 | 9.03 | 9.10 | 9.71 |
| Retained Earnings | 30.45 | 29.83 | 29.47 | 29.15 | 28.58 | 27.87 | 27.52 | 26.82 | 26.47 | 26.12 | 25.29 | 24.97 | 24.61 | 24.10 | 23.84 | 23.43 |
* Derived from reported values
Income Statement
(in billions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 4.02 | 4.09 | 4.06 | 4.05 | 3.84 | 3.93 | 3.97 | 4.03 | 3.97 | 3.98 | 4.03 | 4.07 | 4.02 | 3.97 | 4.01 | 4.01 | 3.94 | 3.68 | 3.56 | 3.68 |
| Cost of Revenue | 2.26 | 2.28 | 2.25 | 2.27 | 2.16 | 2.22 | 2.23 | 2.26 | 2.15 | 2.31 | 2.32 | 2.34 | 2.34 | 2.31 | 2.37 | 2.39 | 2.36 | 2.19 | 2.10 | 2.16 |
| Gross Profit* | 2.13 | 2.17 | 2.16 | 2.14 | 2.02 | 2.05 | 2.08 | 2.11 | 2.06 | 3.04 | 1.71 | 1.73 | 1.68 | 2.96 | 1.64 | 1.62 | 1.58 | 1.49 | 1.46 | 1.51 |
| Total Operating Expenses* | 1.11 | 1.09 | 1.05 | 1.07 | 1.07 | 1.02 | 1.03 | 1.05 | 0.93 | 2.06 | 0.64 | 0.72 | 0.71 | 1.97 | 0.66 | 0.69 | 0.69 | 0.65 | 0.62 | 0.62 |
| Operating Income | 1.02 | 1.09 | 1.11 | 1.07 | 0.95 | 1.03 | 1.05 | 1.05 | 1.13 | 0.99 | 1.07 | 1.01 | 0.97 | 0.99 | 0.98 | 0.93 | 0.90 | 0.83 | 0.85 | 0.89 |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Pretax Income | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.96 | 0.90 | 0.86 | -- | 0.81 | 0.86 |
| Tax Provision | 0.20 | 0.23 | 0.23 | 0.24 | 0.20 | 0.23 | 0.20 | 0.25 | 0.25 | 0.21 | 0.24 | 0.21 | 0.21 | 0.21 | 0.23 | 0.17 | 0.20 | 0.18 | 0.17 | 0.09 |
| Net Income | 0.77 | 0.79 | 0.82 | 0.76 | 0.70 | 0.75 | 1.16 | 0.76 | 0.82 | 0.72 | 0.77 | 0.75 | 0.71 | 0.91 | 0.73 | 0.74 | 0.66 | 0.61 | 0.64 | 0.78 |
| Basic EPS | 2.66 | 2.73 | 2.82 | 2.58 | 2.39 | 2.54 | 3.92 | 2.55 | 2.74 | 2.39 | 2.55 | 2.49 | 2.34 | 2.95 | 2.36 | 2.37 | 2.12 | 1.94 | 2.03 | 2.46 |
| Diluted EPS | 2.66 | 2.72 | 2.81 | 2.58 | 2.38 | 2.53 | 3.91 | 2.54 | 2.73 | 2.38 | 2.55 | 2.48 | 2.33 | 2.94 | 2.35 | 2.37 | 2.11 | 1.93 | 2.02 | 2.45 |
* Derived from reported values
Cash Flow Statement
(in billions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | 0.62 | 0.96 | 1.02 | 0.55 | 0.59 | 1.11 | 0.89 | 0.69 | 0.59 | 1.04 | 0.98 | 0.79 | 0.73 | 0.81 | 0.71 | 0.50 | 0.32 | 0.77 | 0.62 | 0.56 |
| Capital Expenditures | 0.10 | 0.11 | 0.12 | 0.10 | 0.10 | 0.12 | 0.11 | 0.12 | 0.10 | 0.13 | 0.13 | 0.09 | 0.11 | 0.16 | 0.10 | 0.08 | 0.07 | 0.08 | 0.07 | 0.08 |
| Free Cash Flow* | 0.53 | 0.86 | 0.90 | 0.45 | 0.50 | 1.00 | 0.78 | 0.57 | 0.49 | 0.91 | 0.86 | 0.71 | 0.62 | 0.66 | 0.61 | 0.42 | 0.25 | 0.70 | 0.55 | 0.48 |
| Investing Cash Flow | (0.10) | (0.22) | (0.12) | (0.09) | (0.09) | (0.12) | 0.29 | (0.17) | (0.15) | (0.12) | (0.10) | (0.07) | (0.11) | 0.13 | (0.09) | (0.07) | (0.07) | (0.81) | (0.06) | (0.05) |
| Financing Cash Flow | (0.55) | (0.82) | (0.77) | (0.56) | (0.59) | (0.94) | (1.12) | (0.60) | (0.52) | (0.88) | (0.79) | (0.93) | (0.18) | (1.03) | (0.68) | (0.79) | (0.49) | (0.42) | (0.61) | (0.94) |
* Derived from reported values
Dividends Per Share
(USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Dividends Per Share | 1.61 | 1.61 | 1.61 | 1.50 | 1.50 | 1.50 | 1.50 | 1.40 | 1.40 | 1.40 | 1.40 | 1.31 | 1.31 | 1.31 | 1.31 | 1.22 | 1.22 | 1.22 | 1.22 | 1.14 |
