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USD millions

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

Revenue

16,044

15,898

16,107

15,932

14,455

12,574

14,109

14,768

14,314

13,599

13,405

14,484

Net income

3,066

3,488

2,957

3,034

2,694

2,109

2,521

2,563

1,687

2,035

1,899

2,946

Diluted EPS

10.49

11.71

9.74

9.77

8.51

6.63

7.74

7.60

4.86

5.70

5.13

7.28

Diluted shares

292

298

304

311

316

318

326

337

347

357

370

405

Operating cash flow

3,126

3,281

3,539

2,348

2,557

2,807

2,995

2,811

2,402

2,302

2,299

1,616

Capital expenditures

419

437

455

412

296

236

326

364

297

273

284

361

Free cash flow

2,707

2,844

3,084

1,936

2,261

2,571

2,669

2,447

2,105

2,029

2,015

1,255

Cash & equivalents

851

948

1,065

708

1,527

2,564

1,981

1,504

3,094

2,472

3,090

3,990

Total assets

16,148

15,067

15,518

15,422

16,077

15,612

15,068

14,870

16,780

15,201

15,729

17,465

Shareholders' equity

3,226

3,317

3,013

3,089

3,626

3,182

3,030

3,258

4,589

4,259

5,228

6,824

ILLINOIS TOOL WORKS INC

ITWCIK 000004982619 fiscal years

RevenueFY2025

$16.04B0.9%

Net incomeFY2025

$3.07B12.1%

Free cash flowFY2025

$2.71B4.8%

Diluted EPSFY2025

$10.4910.4%

Trends

FY2007–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

net margin 8.9% → 19.1%

MarginsNet marginFCF margin

FY2025: net 19.1% · free cash flow 16.9% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: $3.13B operating cash − $419.0M capex = $2.71B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity 20% (FY2008) → 95% (FY2025) · on assets 19.0%

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014
Revenue	16,044	15,898	16,107	15,932	14,455	12,574	14,109	14,768	14,314	13,599	13,405	14,484
Net income	3,066	3,488	2,957	3,034	2,694	2,109	2,521	2,563	1,687	2,035	1,899	2,946
Diluted EPS	10.49	11.71	9.74	9.77	8.51	6.63	7.74	7.60	4.86	5.70	5.13	7.28
Diluted shares	292	298	304	311	316	318	326	337	347	357	370	405
Operating cash flow	3,126	3,281	3,539	2,348	2,557	2,807	2,995	2,811	2,402	2,302	2,299	1,616
Capital expenditures	419	437	455	412	296	236	326	364	297	273	284	361
Free cash flow	2,707	2,844	3,084	1,936	2,261	2,571	2,669	2,447	2,105	2,029	2,015	1,255
Cash & equivalents	851	948	1,065	708	1,527	2,564	1,981	1,504	3,094	2,472	3,090	3,990
Total assets	16,148	15,067	15,518	15,422	16,077	15,612	15,068	14,870	16,780	15,201	15,729	17,465
Shareholders' equity	3,226	3,317	3,013	3,089	3,626	3,182	3,030	3,258	4,589	4,259	5,228	6,824

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology