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

Illinois Tool Works has reported Tax Rate for 18 years, with the latest figure at 24.54% in Q2 2026.

• On a quarterly basis, Tax Rate rose 19.0% year-over-year to 24.54% in Q2 2026; TTM through Jun 2026 was 22.48%, a 188.0% increase from a year earlier, with the FY2025 full-year figure at 22.69%, up 157.0% from the prior year.
• Tax Rate was 24.54% for Q2 2026 at Illinois Tool Works, up from 20.58% in the prior quarter.
• The five-year high for Tax Rate was 24.54% in Q2 2026, with the low at 14.83% in Q3 2024.
• Average Tax Rate over 5 years is 22.08%, with a median of 22.75% recorded in 2023.
• The sharpest annual moves came in 2022 and 2024: Tax Rate jumped 808 bps in 2022, then plunged 896 bps in 2024.
• Over 5 years, Tax Rate stood at 19.09% in 2022, then advanced by 19 bps to 22.65% in 2023, then gained by 5 bps to 23.7% in 2024, then dropped by 4 bps to 22.85% in 2025, then increased by 7 bps to 24.54% in 2026.
• The last three Tax Rate figures came in at 24.54% (Q2 2026), 20.58% (Q1 2026), and 22.85% (Q4 2025), per Business Quant data.