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.

• In Q1 2026, Tax Rate fell 121.0% year-over-year to 20.58%; the TTM figure through Mar 2026 stood at 22.39% (up 175.0% YoY), while the FY2025 annual figure was 22.69%, up 157.0% from the prior year.
• Tax Rate was 20.58% for Q1 2026 at Illinois Tool Works, down from 22.85% in the prior quarter.
• In the past five years, Tax Rate ranged from a high of 24.48% in Q2 2024 to a low of 14.83% in Q3 2024.
• Historically, Tax Rate has averaged 21.94% across 5 years, with a median of 22.65% in 2023.
• The sharpest annual moves came in 2022 and 2024: Tax Rate soared 808 bps in 2022, then sank 896 bps in 2024.
• A 5-year view of Tax Rate shows it 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.
• The last three Tax Rate figures came in at 20.58% (Q1 2026), 22.85% (Q4 2025), and 21.73% (Q3 2025), per Business Quant data.