Illinois Tool Works Inc. (ITW) Earnings History
Steady Earner37 years of earnings data (1989–2025) · Positive but moderate multi-year EPS trajectory
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Illinois Tool Works Inc. (ITW) Earnings Overview
As of October 23, 2026, Illinois Tool Works Inc. (ITW) reported trailing twelve-month net income of $3.19B, reflecting -10.4% year-over-year growth. The company earned $11.13 per diluted share over the past four quarters, with a net profit margin of 19.1%.
Looking at the long-term picture, ITW's 5-year EPS compound annual growth rate (CAGR) stands at +9.6%, showing solid earnings momentum. The company achieved its highest annual net income of $3.49B in fiscal 2024.
Illinois Tool Works Inc. maintains industry-leading profitability with a gross margin of 44.1%, operating margin of 26.3%, and net margin of 19.1%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including EMR ($2.58B net income, 12.7% margin), ETN ($3.83B net income, 14.9% margin), HON ($8.21B net income, 12.6% margin), ITW has outperformed on profitability metrics. Compare ITW vs EMR →
ITW Earnings vs Peers
Earnings metrics vs comparable public companies
ITW Historical Earnings Data (1989–2025)
37 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.07B | -12.1% | $4.22B | $10.49 | 19.1% | 26.3% |
| 2024 | $3.49B | +18.0% | $4.26B | $11.71 | 21.9% | 26.8% |
| 2023 | $2.96B | -2.5% | $4.04B | $9.74 | 18.4% | 25.1% |
| 2022 | $3.03B | +12.6% | $3.79B | $9.77 | 19.0% | 23.8% |
| 2021 | $2.69B | +27.7% | $3.48B | $8.51 | 18.6% | 24.1% |
| 2020 | $2.11B | -16.3% | $2.88B | $6.63 | 16.8% | 22.9% |
| 2019 | $2.52B | -1.6% | $3.40B | $7.74 | 17.9% | 24.1% |
| 2018 | $2.56B | +51.9% | $3.58B | $7.60 | 17.4% | 24.3% |
| 2017 | $1.69B | -17.1% | $3.49B | $4.86 | 11.8% | 24.4% |
| 2016 | $2.04B | +7.2% | $3.06B | $5.70 | 15.0% | 22.5% |
| 2015 | $1.90B | -35.5% | $2.87B | $5.13 | 14.2% | 21.4% |
| 2014 | $2.95B | +75.5% | $2.89B | $7.28 | 20.3% | 19.9% |
| 2013 | $1.68B | -41.5% | $2.51B | $3.74 | 11.9% | 17.8% |
| 2012 | $2.87B | +38.6% | $2.85B | $6.06 | 16.0% | 15.9% |
| 2011 | $2.07B | +35.6% | $2.73B | $4.19 | 11.6% | 15.4% |
| 2010 | $1.53B | +61.3% | $2.36B | $2.99 | 9.6% | 14.8% |
| 2009 | $947M | -37.7% | $1.39B | $1.89 | 6.8% | 10.0% |
| 2008 | $1.52B | -18.8% | $2.34B | $2.91 | 9.6% | 14.7% |
| 2007 | $1.87B | +8.9% | $2.62B | $3.36 | 11.6% | 16.2% |
| 2006 | $1.72B | +14.9% | $2.42B | $3.01 | 12.2% | 17.2% |
| 2005 | $1.49B | +11.7% | $2.26B | $1.30 | 11.6% | 17.5% |
| 2004 | $1.34B | +30.8% | $2.06B | $1.10 | 11.4% | 17.5% |
| 2003 | $1.02B | +43.7% | $1.63B | $1.66 | 10.2% | 16.3% |
| 2002 | $713M | -11.6% | $1.51B | $1.16 | 7.5% | 15.9% |
| 2001 | $806M | -15.9% | $1.31B | $1.32 | 8.7% | 14.1% |
| 2000 | $958M | +13.9% | $1.56B | $1.58 | 9.6% | 15.7% |
| 1999 | $841M | +25.0% | $1.49B | $1.38 | 9.0% | 15.9% |
| 1998 | $673M | +14.6% | $1.08B | $1.33 | 11.9% | 19.1% |
| 1997 | $587M | +20.7% | $927M | $0.57 | 11.2% | 17.8% |
| 1996 | $486M | +25.5% | $801M | $0.24 | 9.7% | 16.0% |
| 1995 | $388M | +39.5% | $627M | $0.20 | 9.3% | 15.1% |
| 1994 | $278M | +34.5% | $492M | $0.61 | 8.0% | 14.2% |
| 1993 | $207M | +7.5% | $379M | $0.11 | 6.5% | 12.0% |
| 1992 | $192M | +6.4% | $362M | $0.05 | 6.8% | 12.9% |
| 1991 | $181M | -1.0% | $323M | $0.05 | 6.8% | 12.2% |
| 1990 | $182M | +11.4% | $345M | $0.05 | 7.2% | 13.5% |
| 1989 | $164M | - | $303M | $0.05 | 7.5% | 14.0% |
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ITW — Frequently Asked Questions
Quick answers to the most common questions about buying ITW stock.
What is ITW earnings per share (EPS)?
ITW trailing twelve-month (TTM) diluted EPS is $11.13, reflecting -10.4% year-over-year growth. The 5-year EPS CAGR is +9.6%. Complete EPS history from 1989 to 2025 is available in the table on this page.
What is Illinois Tool Works Inc.'s net income?
Illinois Tool Works Inc. (ITW) trailing twelve-month net income is $3.2B as of 2025. Earnings declined -10.4% year-over-year. Illinois Tool Works Inc. has been profitable for 37 consecutive years.
Is ITW profitable?
Yes, ITW is profitable with a TTM net income of $3.2B and a net profit margin of +19.1%. Illinois Tool Works Inc. has generated profits for 37 consecutive years.
What is ITW's earnings growth rate?
ITW compound annual EPS growth rates (CAGR): 1-Year: -10.4%, 3-Year: +2.4%, 5-Year: +9.6%, 10-Year: +7.4%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1989 to 2025.
What are ITW's profit margins?
Illinois Tool Works Inc. net profit margin is +19.1%, operating margin is +26.3%, and gross margin is +44.1%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +93.7%.
Is ITW growing earnings?
ITW earnings are declining — EPS fell -10.4% year-over-year. TTM net income dropped to $3.2B. This contrasts with the 5-year CAGR of +9.6%.
What was ITW's best earnings year?
Illinois Tool Works Inc.'s highest annual net income on record is $3.5B, achieved in fiscal year 2024. Earnings history on this page spans 1989 to 2025 and includes all annual and quarterly figures.
What were ITW's earnings last quarter?
ITW's most recent reported quarter was Q2 2026. Net income was $815M with diluted EPS of $2.84. For a full breakdown of all quarters, see the quarterly earnings table on this page.