Illinois Tool Works (ITW) Tax Rate (2009 - 2026)
Illinois Tool Works (ITW) reported Tax Rate of 24.54% for Q2 2026, up 0.19 percentage points from 24.35% a year earlier and up 3.96 percentage points from the prior quarter.
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Analysis
Illinois Tool Works (ITW) Tax Rate (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Illinois Tool Works' Tax Rate came in at 22.48%, up 1.88 percentage points year-over-year; for FY2025, it was 22.69%, up 1.57 percentage points from FY2024.
- Tax Rate has a five-year change of +0.69 percentage points (FY2020 to FY2025).
- By year, Tax Rate came in at 21.12% in FY2024 (-1.53 pp), 22.65% in FY2023 (+1.62 pp), 21.03% in FY2022 (+2.03 pp) and 19.00% in FY2021 (-3.00 pp).
- The Q2 2026 figure ranks as the highest quarterly Tax Rate since Q4 2018.
- Year over year, Tax Rate gained in three of the last eight quarters, with an average year-over-year change of -0.60 percentage points.
- The high point for year-over-year Tax Rate in five years was Q2 2022 (a gain of 8.08 percentage points); the low point was Q3 2024 (a drop of 8.96 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 20.58% (Q1 2026), 22.85% (Q4 2025) and 21.73% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Caterpillar | 376.87 Bn | 348.57 Bn | 7.76 Bn | 23.15% |
| 2 | Amphenol | 208.65 Bn | 203.35 Bn | 3.55 Bn | 25.30% |
| 3 | Deere | 185.97 Bn | 194.73 Bn | 4.66 Bn | 28.11% |
| 4 | Eaton | 167.50 Bn | 164.73 Bn | 2.86 Bn | 28.06% |
| 5 | Parker-Hannifin | 122.25 Bn | 120.39 Bn | 2.25 Bn | 18.51% |
| 6 | Vertiv Holdings | 93.95 Bn | 84.57 Bn | 1.23 Bn | 19.71% |
| 7 | Emerson Electric | 88.90 Bn | 81.65 Bn | 2.66 Bn | 21.62% |
| 8 | 3M | 87.39 Bn | 68.85 Bn | 2.68 Bn | 16.34% |
| 9 | Illinois Tool Works | 78.00 Bn | 74.56 Bn | 1.90 Bn | 24.54% |
| 10 | Cummins | 71.32 Bn | 68.45 Bn | 2.47 Bn | 25.14% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 24.54% |
| Mar 31, 2026 | 20.58% |
| Dec 31, 2025 | 22.85% |
| Sep 30, 2025 | 21.73% |
| Jun 30, 2025 | 24.35% |
| Mar 31, 2025 | 21.79% |
| Dec 31, 2024 | 23.70% |
| Sep 30, 2024 | 14.83% |
| Jun 30, 2024 | 24.48% |
| Mar 31, 2024 | 23.60% |
| Dec 31, 2023 | 22.65% |
| Sep 30, 2023 | 23.79% |
| Jun 30, 2023 | 21.54% |
| Mar 31, 2023 | 22.56% |
| Dec 31, 2022 | 19.09% |
| Sep 30, 2022 | 24.03% |
| Jun 30, 2022 | 18.27% |
| Mar 31, 2022 | 23.11% |
| Dec 31, 2021 | 23.11% |
| Sep 30, 2021 | 20.72% |
API Access
Illinois Tool Works Tax Rate API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=tax-rate&ticker=ITW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "ticker": "ITW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=tax-rate&ticker=ITW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();