Illinois Tool Works (ITW) Tax Rate (2009 - 2026)

Illinois Tool Works' Tax Rate history runs 18 years deep, the most recent figure standing at 20.58% for Q1 2026.

• On a quarterly basis, Tax Rate fell 121.0% year-over-year to 20.58% in Q1 2026; TTM through Mar 2026 was 22.39%, a 175.0% increase from a year earlier, with the FY2025 full-year figure at 22.69%, up 157.0% from the prior year.
• Tax Rate fell to 20.58% in Q1 2026 per ITW's latest filing, from 22.85% in the prior quarter.
• Across five years, Tax Rate topped out at 24.48% in Q2 2024 and bottomed at 14.83% in Q3 2024.
• The 5-year median for Tax Rate is 22.65% (2023), against an average of 21.94%.
• Across the five-year window, Tax Rate surged 808 bps in 2022 and sank 896 bps in 2024, its largest moves.
• Year by year, Tax Rate stood at 19.09% in 2022, then gained by 19 bps to 22.65% in 2023, then rose by 5 bps to 23.7% in 2024, then slipped by 4 bps to 22.85% in 2025, then decreased by 10 bps to 20.58% in 2026.
• Per Business Quant, the three latest ITW Tax Rate figures stand at 20.58% (Q1 2026), 22.85% (Q4 2025), and 21.73% (Q3 2025).