Illinois Tool Works Inc. (ITW) quarterly cash flow statement — complete operating, investing & financing history
Illinois Tool Works Inc. (ITW) cash flow statement — 30-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 723M | 623M | 963M | 1.02B | 550M | 592M | 1.11B | 891M | 687M | 589M | 1.04B | 982M | 790M | 728M | 811M | 713M | 501M | 323M | 774M | 619M |
| Operating CF Margin % | 16.81% | 15.51% | 23.53% | 25.15% | 13.57% | 15.42% | 28.33% | 22.47% | 17.06% | 14.83% | 26.09% | 24.36% | 19.39% | 18.11% | 20.42% | 17.78% | 12.49% | 8.2% | 21.04% | 17.41% |
| Operating CF Growth % | 31.45% | 5.24% | -13.55% | 14.59% | -19.94% | 0.51% | 7.22% | -9.27% | -13.04% | -19.09% | 28.11% | 37.73% | 57.68% | 125.39% | 4.78% | 15.19% | -9.73% | -46.96% | 0.13% | -9.37% |
| Net Income | 815M | 768M | 790M | 821M | 755M | 700M | 750M | 1.16B | 759M | 819M | 717M | 772M | 754M | 714M | 907M | 727M | 738M | 662M | 609M | 639M |
| Depreciation & Amortization | 98M | 99M | 103M | 100M | 99M | 95M | 102M | 104M | 99M | 97M | 99M | 97M | 100M | 99M | 99M | 102M | 103M | 106M | 104M | 104M |
| Stock-Based Compensation | 22M | 18M | 17M | 17M | 19M | 16M | 13M | 14M | 19M | 15M | 17M | 17M | 18M | 17M | 15M | 15M | 17M | 16M | 12M | 14M |
| Deferred Taxes | 6M | 1M | 22M | -9M | -13M | -17M | -10M | -212M | 2M | 44M | -93M | 10M | -8M | 3M | -78M | -12M | -23M | -37M | -69M | 8M |
| Other Non-Cash Items | 9M | 4M | 7M | 1M | 2M | 7M | 3M | -362M | -5M | -110M | -4M | 11M | -14M | 3M | -187M | -3M | -3M | 0 | 5M | -3M |
| Working Capital Changes | -227M | -267M | 24M | 91M | -312M | -209M | 256M | 187M | -187M | -276M | 303M | 75M | -60M | -108M | 55M | -116M | -331M | -424M | 113M | -143M |
| Change in Receivables | -184M | -165M | 43M | 55M | -70M | -120M | 127M | 77M | -31M | -139M | 103M | 3M | -25M | -17M | -44M | -21M | -95M | -301M | 30M | 30M |
| Change in Inventory | -32M | -75M | 82M | -18M | 7M | -37M | 154M | 29M | 5M | -12M | 125M | 95M | 76M | 64M | 22M | -103M | -167M | -207M | -85M | -143M |
| Change in Payables | 27M | 91M | -89M | -1M | -3M | 64M | -14M | -33M | -18M | 22M | -11M | 1M | -6M | 2M | -49M | -40M | 8M | 116M | -7M | -36M |
| Cash from Investing | -85M | -99M | -221M | -116M | -92M | -92M | -117M | 294M | -169M | -152M | -120M | -103M | -69M | -111M | 127M | -91M | -73M | -73M | -808M | -62M |
| Capital Expenditures | -92M | -95M | -105M | -117M | -101M | -96M | -118M | -108M | -116M | -95M | -131M | -126M | -85M | -113M | -156M | -101M | -81M | -74M | -79M | -71M |
| CapEx % of Revenue | 2.14% | 2.37% | 2.57% | 2.88% | 2.49% | 2.5% | 3% | 2.72% | 2.88% | 2.39% | 3.29% | 3.13% | 2.09% | 2.81% | 3.93% | 2.52% | 2.02% | 1.88% | 2.15% | 2% |
| Acquisitions | 2M | 0 | -115M | 0 | 3M | 2M | 2M | 395M | -55M | -57M | 9M | 6M | 10M | -3M | 275M | 3M | 3M | -2M | -729M | 3M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 4M | -6M | -2M | 0 | 1M | 2M | -2M | 7M | -2M | -6M | 9M | 5M | 1M | 3M | 20M | 2M | 3M | -1M | -1M | -1M |
| Cash from Financing | -632M | -547M | -818M | -775M | -563M | -588M | -943M | -1.12B | -601M | -524M | -877M | -788M | -932M | -185M | -1.03B | -681M | -795M | -489M | -417M | -608M |
| Debt Issued (Net) | -259M | 259M | 19M | 25M | 262M | 202M | -120M | -333M | 193M | 252M | -86M | -25M | -166M | 571M | -146M | 196M | -39M | 265M | 208M | 1M |
| Equity Issued (Net) | -750M | -323M | -370M | -362M | -372M | -331M | -366M | -373M | -375M | -334M | -371M | -375M | -368M | -342M | -488M | -500M | -375M | -359M | -242M | -250M |
| Dividends Paid | -463M | -465M | -467M | -438M | -439M | -441M | -443M | -415M | -418M | -419M | -421M | -396M | -398M | -400M | -403M | -377M | -380M | -382M | -383M | -359M |
| Share Repurchases | -750M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -375M | -500M | -500M | -375M | -375M | -250M | -250M |
| Other Financing | 840M | -18M | 0 | 0 | -14M | -18M | -14M | 0 | -1M | -23M | 1M | 8M | 0 | -14M | 2M | 0 | -1M | -13M | 0 | 0 |
| Net Change in Cash | 12M | -24M | -73M | 136M | -85M | -75M | 1M | 85M | -97M | -106M | 75M | 68M | -221M | 435M | -66M | -105M | -417M | -231M | -460M | -71M |
| Free Cash Flow | 631M | 528M | 858M | 904M | 449M | 496M | 996M | 783M | 571M | 494M | 908M | 856M | 705M | 615M | 655M | 612M | 420M | 249M | 695M | 548M |
| FCF Margin % | 14.67% | 13.15% | 20.96% | 22.27% | 11.08% | 12.92% | 25.33% | 19.74% | 14.18% | 12.43% | 22.8% | 21.24% | 17.3% | 15.3% | 16.49% | 15.26% | 10.47% | 6.32% | 18.89% | 15.41% |
| FCF Growth % | 40.53% | 6.45% | -13.86% | 15.45% | -21.37% | 0.4% | 9.69% | -8.53% | -19.01% | -19.67% | 38.63% | 39.87% | 67.86% | 146.99% | -5.76% | 11.68% | -11.95% | -53.97% | -1.42% | -13.15% |
| FCF per Share | 2.20 | 1.83 | 2.96 | 3.10 | 1.53 | 1.68 | 3.37 | 2.64 | 1.91 | 1.65 | 3.02 | 2.83 | 2.32 | 2.01 | 2.13 | 1.98 | 1.35 | 0.79 | 2.21 | 1.73 |
| FCF Conversion (FCF/Net Income) | 0.89x | 0.81x | 1.22x | 1.24x | 0.73x | 0.85x | 1.49x | 0.77x | 0.91x | 0.72x | 1.45x | 1.27x | 1.05x | 1.02x | 0.89x | 0.98x | 0.68x | 0.49x | 1.27x | 0.97x |
| Interest Paid | -59M | 59M | 36M | 62M | 128M | 53M | 32M | 57M | 83M | 76M | 44M | 75M | 79M | 62M | 29M | 57M | 55M | 58M | 19M | 50M |
| Taxes Paid | -205M | 205M | 190M | 200M | 523M | 139M | 220M | 323M | 485M | 152M | 235M | 241M | 422M | 128M | 225M | 262M | 404M | 102M | 173M | 203M |