Illinois Tool Works Ratios (2009-2025) | ITW

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Ratios	Mar2009	Jun2009	Sep2009	Dec2009	Mar2010	Jun2010	Sep2010	Dec2010	Mar2011	Jun2011	Sep2011	Dec2011	Mar2012	Jun2012	Sep2012	Dec2012	Mar2013	Jun2013	Sep2013	Dec2013	Mar2014	Jun2014	Sep2014	Dec2014	Mar2015	Jun2015	Sep2015	Dec2015	Mar2016	Jun2016	Sep2016	Dec2016	Mar2017	Jun2017	Sep2017	Dec2017	Mar2018	Jun2018	Sep2018	Dec2018	Mar2019	Jun2019	Sep2019	Dec2019	Mar2020	Jun2020	Sep2020	Dec2020	Mar2021	Jun2021	Sep2021	Dec2021	Mar2022	Jun2022	Sep2022	Dec2022	Mar2023	Jun2023	Sep2023	Dec2023	Mar2024	Jun2024	Sep2024	Dec2024	Mar2025	Jun2025	Sep2025	Dec2025
Profitability
Gross Margin	31.58%	33.74%	35.34%	35.22%	36.08%	35.99%	35.34%	33.41%	35.35%	35.08%	35.33%	64.79%	36.60%	36.95%	38.68%	37.51%	39.24%	40.02%	39.80%	38.86%	39.53%	40.33%	40.90%	39.67%	41.05%	41.06%	41.77%	40.73%	42.09%	42.67%	42.00%	40.98%	42.29%	42.01%	42.13%	41.47%	41.75%	41.76%	41.99%	41.45%	42.03%	41.84%	42.31%	41.71%	42.04%	37.83%	42.24%	42.45%	42.47%	41.16%	41.06%	40.45%	40.16%	40.36%	40.89%	41.85%	41.75%	42.46%	42.47%	41.95%	97.06%	43.83%	43.77%	43.51%	43.71%	43.97%	44.49%	44.20%
EBT Margin	1.76%	7.99%	12.54%	12.69%	13.43%	14.89%	14.65%	11.28%	14.54%	14.76%	15.07%	22.04%	14.96%	16.40%	16.50%	39.49%	16.52%	16.17%	17.60%	16.12%	17.15%	18.98%	19.61%	18.75%	19.87%	20.27%	21.62%	19.36%	20.40%	21.89%	21.83%	21.36%	21.58%	22.76%	25.06%	21.93%	22.68%	23.34%	23.11%	22.79%	22.24%	22.86%	24.20%	23.96%	22.77%	15.83%	22.35%	23.71%	24.41%	23.48%	22.67%	21.53%	21.86%	22.51%	23.86%	28.23%	22.94%	23.59%	25.13%	23.27%	26.98%	24.96%	34.34%	25.00%	23.31%	24.62%	25.84%	25.02%
EBIT Margin	2.90%	9.87%	13.51%	13.70%	14.49%	15.94%	15.72%	12.33%	15.43%	15.41%	15.59%	26.43%	15.92%	16.98%	17.87%	15.04%	16.90%	17.53%	19.00%	17.67%	18.69%	20.52%	20.91%	19.58%	20.86%	21.26%	22.69%	20.73%	22.05%	23.08%	23.12%	21.83%	23.25%	24.23%	26.56%	23.31%	24.12%	24.33%	24.61%	24.02%	23.62%	24.13%	24.95%	23.75%	23.57%	17.51%	23.86%	25.41%	25.54%	24.29%	23.76%	22.67%	22.72%	23.09%	24.51%	24.83%	24.19%	24.79%	26.54%	24.81%	2.94%	26.17%	26.53%	26.22%	24.77%	26.35%	27.40%	26.51%
EBITDA Margin	2.90%	9.87%	13.51%	13.70%	14.49%	15.94%	15.72%	12.33%	15.43%	15.41%	15.59%	26.43%	15.92%	16.98%	17.87%	15.04%	16.90%	17.53%	19.00%	17.67%	18.69%	20.52%	20.91%	19.58%	20.86%	21.26%	22.69%	20.73%	22.05%	23.08%	23.12%	21.83%	23.25%	24.23%	26.56%	23.31%	24.12%	24.33%	24.61%	24.02%	23.62%	24.13%	24.95%	23.75%	23.57%	17.51%	23.86%	25.41%	25.54%	24.29%	23.76%	22.67%	22.72%	23.09%	24.51%	24.83%	24.19%	24.79%	26.54%	24.81%	2.94%	26.17%	26.53%	26.22%	24.77%	26.35%	27.40%	26.51%
Operating Margin	2.90%	9.87%	13.51%	13.70%	14.49%	15.94%	15.72%	12.33%	15.43%	15.41%	15.59%	26.43%	15.92%	16.98%	17.87%	15.04%	16.90%	17.53%	19.00%	17.67%	18.69%	20.52%	20.91%	19.58%	20.86%	21.26%	22.69%	20.73%	22.05%	23.08%	23.12%	21.83%	23.25%	24.23%	26.56%	23.31%	24.12%	24.33%	24.61%	24.02%	23.62%	24.13%	24.95%	23.75%	23.57%	17.51%	23.86%	25.41%	25.54%	24.29%	23.76%	22.67%	22.72%	23.09%	24.51%	24.83%	24.19%	24.79%	26.54%	24.81%	2.94%	26.17%	26.53%	26.22%	24.77%	26.35%	27.40%	26.51%
Net Margin	-1.00%	-0.42%	-0.26%	0.83%	8.67%	0.05%	0.22%	-0.09%	0.11%	0.03%	0.05%	21.95%	0.11%	7.73%	1.88%	1.41%	-1.52%	1.20%	1.12%	-0.14%	1.09%	26.70%	0.51%	-0.46%	-0.12%	-0.12%	-0.12%	-0.12%	14.17%	15.19%	15.16%	14.77%	15.30%	16.23%	17.62%	-2.20%	17.31%	17.31%	17.55%	16.84%	16.69%	17.15%	18.86%	18.36%	17.50%	12.40%	17.57%	18.45%	18.88%	21.06%	17.97%	16.53%	16.81%	18.40%	18.13%	22.82%	17.77%	18.51%	19.15%	18.00%	20.61%	18.85%	29.25%	19.07%	18.23%	18.63%	20.23%	19.30%
FCF Margin	12.17%	16.70%	14.42%	12.91%	5.77%	6.85%	11.36%	6.83%	1.31%	4.88%	15.37%	58.97%	5.48%	9.16%	14.60%	14.27%	8.10%	15.42%	20.52%	16.80%	6.89%	13.31%	3.93%	10.53%	10.74%	11.18%	19.20%	19.18%	12.89%	13.73%	15.54%	17.45%	11.50%	10.75%	19.42%	17.00%	11.86%	13.91%	20.56%	20.31%	15.17%	16.85%	23.86%	19.95%	17.16%	26.56%	19.08%	20.29%	15.27%	12.98%	15.41%	18.89%	6.32%	10.47%	15.26%	16.49%	15.30%	17.30%	21.24%	22.80%	12.43%	14.18%	19.74%	25.33%	12.92%	11.08%	22.27%	20.96%
Efficiency
Inventory Average			1.40B	1.36B	1.38B	1.44B	1.50B	1.59B	1.73B	1.87B	1.86B	1.76B	1.77B	1.81B	1.78B	1.67B	1.55B	1.50B	1.40B	1.28B	1.27B	1.30B	1.28B	1.22B	1.18B	1.19B	1.17B	1.12B	1.11B	1.14B	1.16B	1.12B	1.12B	1.18B	1.21B	1.22B	1.28B	1.33B	1.33B	1.33B	1.33B	1.30B	1.23B	1.19B	1.17B	1.18B	1.16B	1.17B	1.24B	1.35B	1.46B	1.61B	1.79B	1.93B	1.99B	2.03B	2.03B	1.96B	1.86B	1.75B	1.77B	1.82B	1.82B	1.71B	1.63B	1.69B	1.72B	1.69B
Assets Average			14.81B	15.48B	15.97B	15.77B	15.99B	16.36B	17.03B	18.08B	18.44B	18.17B	18.46B	18.93B	18.97B	19.17B	19.26B	19.20B	19.48B	19.68B	19.88B	20.05B	19.48B	18.25B	16.70B	16.14B	16.23B	15.92B	15.58B	15.33B	15.47B	15.46B	15.37B	15.73B	16.12B	16.55B	16.47B	15.84B	15.42B	15.09B	15.10B	15.26B	15.07B	15.01B	14.61B	14.21B	14.60B	15.28B	15.64B	15.62B	15.55B	15.80B	16.18B	15.98B	15.45B	15.32B	15.67B	15.79B	15.52B	15.46B	15.29B	15.32B	15.70B	15.45B	15.27B	15.76B	16.09B	16.14B
Equity Average			8.08B	3.43B	3.68B	8.74B	8.81B	3.57B	4.32B	10.40B	10.14B	3.58B	3.72B	10.12B	10.18B	2.77B	2.78B	10.26B	10.35B	10.09B	9.14B	8.51B	8.12B	7.31B	2.80B	-1.14B	-1.21B	1.93B	1.95B	-1.40B	-1.47B	1.40B	1.31B	-1.58B	-1.46B	1.59B	4.38B	3.98B	3.67B	3.40B	3.23B	3.15B	3.03B	3.00B	2.66B	2.32B	2.53B	2.94B	3.23B	3.40B	3.51B	3.56B	3.60B	3.48B	3.20B	3.05B	3.10B	3.10B	3.05B	3.01B	3.02B	2.99B	3.18B	3.35B	3.28B	3.23B	3.21B	3.22B
Invested Capital		8.11B	8.31B	1.53B	9.07B	11.46B	11.64B	1.05B	13.23B	13.30B	13.63B	1.06B	13.66B	13.58B	14.84B	-0.13B	14.84B	14.81B	15.08B	14.34B	15.21B	15.61B	14.79B	12.77B	4.62B	5.95B	5.63B	12.12B	-0.23B	-0.37B	-0.37B	12.09B	-0.54B	-0.42B	-0.21B	12.07B	5.36B	4.99B	4.65B	10.64B	4.30B	4.89B	4.67B	10.79B	3.98B	4.16B	4.60B	11.30B	5.18B	5.42B	5.29B	11.10B	5.38B	5.08B	4.61B	9.80B	4.80B	4.79B	4.70B	10.71B	4.72B	4.66B	5.19B	10.40B	7.84B	8.21B	8.21B	10.91B
Asset Utilization Ratio			0.95	0.88	0.89	0.93	0.94	0.95	0.94	0.93	0.94	0.80	0.79	0.76	0.72	0.84	0.78	0.74	0.72	0.72	0.72	0.72	0.75	0.79	0.85	0.87	0.84	0.84	0.86	0.87	0.87	0.88	0.90	0.89	0.87	0.87	0.89	0.94	0.96	0.98	0.97	0.94	0.94	0.94	0.94	0.90	0.86	0.82	0.82	0.90	0.92	0.92	0.92	0.95	1.01	1.04	1.02	1.02	1.04	1.04	1.05	1.05	1.02	1.03	1.03	1.00	0.99	0.99
Leverage & Solvency
Interest Coverage Ratio	2.90	7.63	10.59	10.85	12.20	14.47	14.25	10.98	14.98	15.80	14.57	5.23	13.88	15.16	12.83	8.59	9.63	10.68	11.30	10.47	10.42	11.92	11.35	12.70	12.91	13.27	12.90	11.71	12.45	13.66	13.93	11.78	12.61	13.42	14.77	12.82	13.68	14.56	13.89	13.65	13.32	15.84	16.69	16.16	14.92	8.80	15.17	16.98	17.40	17.17	17.24	17.02	18.65	19.70	18.90	17.61	16.20	14.64	15.97	14.11	1.65	14.05	15.25	15.16	13.99	14.43	14.83	14.47
Debt to Equity		0.38	0.36	-2.25	0.36	0.35	0.38	-1.65	0.32	0.39	0.46	-1.48	0.47	0.49	0.49	-1.07	0.49	0.50	0.49	0.65	0.89	0.85	0.97	1.09	-6.16	-7.47	-5.70	1.42	-5.26	-4.87	-5.24	1.84	-4.79	-5.31	-5.78	1.81	1.81	1.96	2.09	2.27	2.42	2.52	2.57	2.56	3.37	3.29	2.95	2.55	2.43	2.17	2.16	2.12	2.19	2.26	2.53	2.51	2.70	2.66	2.69	2.71	2.76	2.86	2.46	2.37	2.55	2.78	2.79	2.78
Debt Ratio		0.21	0.20	0.19	0.20	0.19	0.21	0.17	0.19	0.22	0.25	0.22	0.25	0.26	0.26	0.26	0.26	0.26	0.26	0.32	0.38	0.36	0.40	0.42	0.47	0.48	0.49	0.47	0.45	0.47	0.49	0.52	0.51	0.51	0.50	0.50	0.47	0.48	0.48	0.50	0.51	0.51	0.51	0.51	0.54	0.54	0.53	0.52	0.51	0.49	0.49	0.48	0.48	0.49	0.50	0.50	0.53	0.53	0.52	0.53	0.55	0.54	0.53	0.52	0.53	0.56	0.55	0.56
Equity Ratio		0.54	0.55	-0.09	0.55	0.56	0.55	-0.11	0.59	0.56	0.54	-0.15	0.53	0.53	0.54	-0.24	0.54	0.53	0.53	0.50	0.43	0.42	0.41	0.39	-0.08	-0.06	-0.09	0.33	-0.09	-0.10	-0.09	0.28	-0.11	-0.10	-0.09	0.27	0.26	0.24	0.23	0.22	0.21	0.20	0.20	0.20	0.16	0.17	0.18	0.20	0.21	0.23	0.23	0.23	0.22	0.22	0.20	0.20	0.19	0.20	0.20	0.19	0.20	0.19	0.21	0.22	0.21	0.20	0.20	0.20
Times Interest Earned	2.90	7.63	10.59	10.85	12.20	14.47	14.25	10.98	14.98	15.80	14.57	5.23	13.88	15.16	12.83	8.59	9.63	10.68	11.30	10.47	10.42	11.92	11.35	12.70	12.91	13.27	12.90	11.71	12.45	13.66	13.93	11.78	12.61	13.42	14.77	12.82	13.68	14.56	13.89	13.65	13.32	15.84	16.69	16.16	14.92	8.80	15.17	16.98	17.40	17.17	17.24	17.02	18.65	19.70	18.90	17.61	16.20	14.64	15.97	14.11	1.65	14.05	15.25	15.16	13.99	14.43	14.83	14.47
Dividends & Payouts
FCF Payout Ratio	0.40	0.27	0.30	0.35	0.72	0.58	0.35	0.63	3.02	0.76	0.24	0.28	0.73	0.42	0.31	0.70		0.31	0.23	0.31	0.74	0.35	1.14	0.51	0.52	0.47	0.27	0.32	0.47	0.42	0.36	0.38	0.57	0.58	0.32	0.43	0.60	0.50	0.35	0.46	0.61	0.54	0.39	0.50	0.62	0.50	0.54	0.51	0.67	0.75	0.66	0.55	1.53	0.90	0.62	0.62	0.65	0.56	0.46	0.46	0.85	0.73	0.53	0.44	0.89	0.98	0.48	0.54
Valuation
Enterprise Value	-1.12B	-0.60B	-0.93B	-1.34B	-1.49B	-1.33B	-1.72B	-1.17B	-1.07B	-1.22B	-1.30B	-1.16B	-1.29B	-1.68B	-2.04B	-2.77B	-2.66B	-2.76B	-3.01B	-3.61B	-3.54B	-5.29B	-4.82B	-3.98B	-2.67B	-2.85B	-3.00B	-3.09B	-2.44B	-2.35B	-2.29B	-2.47B	-2.49B	-2.49B	-2.78B	-3.09B	-1.94B	-1.62B	-1.58B	-1.50B	-1.75B	-1.67B	-1.82B	-1.98B	-1.43B	-1.81B	-2.17B	-2.56B	-2.48B	-2.06B	-1.99B	-1.53B	-1.29B	-0.88B	-0.77B	-0.71B	-1.14B	-0.92B	-0.99B	-1.06B	-0.96B	-0.86B	-0.95B	-0.95B	-0.87B	-0.79B	-0.92B	-0.85B
Return Ratios
Return on Sales	-0.01%	0.00%	0.00%	0.01%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.01%	0.08%	0.02%	0.02%	-0.01%	0.01%	0.01%	0.00%	0.01%	0.27%	0.01%	0.00%	0.07%	0.00%	0.00%		0.14%	0.15%	0.15%	0.15%	0.15%	0.16%	0.18%	-0.02%	0.17%	0.17%	0.18%	0.17%	0.17%	0.17%	0.19%	0.18%	0.18%	0.12%	0.18%	0.18%	0.19%	0.21%	0.18%	0.17%	0.17%	0.18%	0.18%	0.23%	0.18%	0.19%	0.19%	0.18%	0.21%	0.19%	0.29%	0.19%	0.18%	0.19%	0.20%	0.19%
Return on Capital Employed			0.11%	0.11%	0.14%	0.16%	0.18%	0.17%	0.17%	0.18%	0.17%	0.16%	0.16%	0.16%	0.15%	0.16%	0.15%	0.15%	0.16%	0.18%	0.18%	0.17%	0.18%	0.20%	0.23%	0.22%	0.21%	0.21%	0.22%	0.24%	0.25%	0.24%	0.25%	0.25%	0.26%	0.26%	0.26%	0.30%	0.30%	0.31%	0.32%	0.26%	0.27%	0.26%	0.26%	0.24%	0.23%	0.23%	0.23%	0.27%	0.28%	0.28%	0.28%	0.30%	0.33%	0.35%	0.38%	0.34%	0.35%	0.37%	0.30%	0.31%	0.29%	0.29%	0.36%	0.35%	0.35%	0.38%
Return on Invested Capital			0.11%	0.22%	0.27%	0.16%	0.15%	0.25%	0.26%	0.15%	0.15%	0.26%	0.24%	0.13%	0.12%	0.25%	0.24%	0.11%	0.11%	0.12%	0.12%	0.12%	0.13%	0.15%	0.23%	0.38%	0.35%	0.23%	0.34%	-6.90%	-5.71%	0.37%	0.38%	-4.77%	-7.70%	0.30%	0.22%	0.38%	0.41%	0.35%	0.35%	0.57%	0.55%	0.34%	0.35%	0.55%	0.50%	0.28%	0.29%	0.53%	0.53%	0.34%	0.34%	0.53%	0.58%	0.42%	0.42%	0.64%	0.67%	0.41%	0.32%	0.53%	0.52%	0.33%	0.36%	0.41%	0.39%	0.34%
Return on Assets			-0.01%	0.00%	0.02%	0.02%	0.03%	0.02%	0.00%	0.00%	0.00%	0.02%	0.02%	0.03%	0.04%	0.03%	0.02%	0.01%	0.01%	0.00%	0.01%	0.05%	0.05%	0.06%	0.06%	0.00%	0.00%		0.03%	0.06%	0.10%	0.13%	0.14%	0.14%	0.14%	0.10%	0.11%	0.12%	0.12%	0.17%	0.17%	0.16%	0.16%	0.17%	0.17%	0.15%	0.14%	0.14%	0.14%	0.17%	0.18%	0.17%	0.17%	0.17%	0.18%	0.20%	0.20%	0.20%	0.20%	0.19%	0.20%	0.20%	0.22%	0.23%	0.22%	0.21%	0.19%	0.19%
Return on Equity			-0.01%	0.00%	0.10%	0.04%	0.05%	0.10%	0.01%	0.01%	0.01%	0.08%	0.08%	0.06%	0.07%	0.19%	0.16%	0.01%	0.01%	0.00%	0.02%	0.13%	0.13%	0.14%	0.36%	-0.01%	0.01%		0.24%	-0.71%	-1.04%	1.46%	1.61%	-1.37%	-1.55%	1.06%	0.41%	0.47%	0.51%	0.75%	0.78%	0.78%	0.82%	0.84%	0.94%	0.94%	0.83%	0.72%	0.69%	0.79%	0.78%	0.76%	0.75%	0.76%	0.86%	0.99%	1.00%	1.00%	1.03%	0.98%	1.01%	1.03%	1.09%	1.04%	1.03%	1.04%	0.94%	0.95%

Research Tools

Illinois Tool Works Ratios (2009-2025) | ITW

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