Illinois Tool Works (ITW)
Market Price (12/24/2025): $251.76 | Market Cap: $73.2 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Illinois Tool Works (ITW)
Market Price (12/24/2025): $251.76Market Cap: $73.2 BilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, Dividend Yield is 2.4% | Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -56% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% | Key risksITW key risks include [1] persistently slow organic growth, Show more. | |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 3.3 Bil, FCF LTM is 2.8 Bil | ||
| Low stock price volatilityVol 12M is 23% | ||
| Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, Electric Vehicles & Autonomous Driving, and Sustainable & Green Buildings. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.5%, Dividend Yield is 2.4% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 18%, CFO LTM is 3.3 Bil, FCF LTM is 2.8 Bil |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, Electric Vehicles & Autonomous Driving, and Sustainable & Green Buildings. Show more. |
| Weak multi-year price returns2Y Excs Rtn is -43%, 3Y Excs Rtn is -56% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.5% |
| Key risksITW key risks include [1] persistently slow organic growth, Show more. |
Why The Stock Moved
Qualitative Assessment
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The requested time period for Illinois Tool Works (ITW) stock movement, from August 31, 2025, to December 24, 2025, is in the future. Therefore, actual past performance data and the reasons for a -4.3% stock movement during this specific future timeframe are not yet recorded. However, based on available information for 2025 up to December 24, 2025, here are some points that have influenced ITW's stock and analyst outlooks, which could hypothetically contribute to future movements:1. Strong Q3 2025 Financial Performance and Narrowed Full-Year Guidance. Illinois Tool Works reported solid third-quarter 2025 results on October 24, 2025, with revenue of $4.1 billion (a 2% increase with 1% organic growth) and a record operating margin of 27.4%. The company also reported GAAP EPS of $2.81, a 6% increase excluding a prior-year divestiture gain, and increased free cash flow by 15% to $0.9 billion. ITW narrowed its full-year 2025 GAAP EPS guidance range to $10.40 to $10.50, projecting overall revenue growth of 1% to 3%.
2. Market Reaction to Q3 2025 Earnings. Despite beating earnings expectations, ITW's stock price fell 4% in regular trading after dropping 2.89% in pre-market activity following its Q3 2025 earnings release on October 24, 2025. This negative market reaction suggested investors might have been focused on the revenue performance, which slightly missed analyst forecasts, and concerns about top-line growth.
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Stock Movement Drivers
Fundamental Drivers
The -3.0% change in ITW stock from 9/23/2025 to 12/23/2025 was primarily driven by a -10.6% change in the company's Net Income Margin (%).| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 259.61 | 251.83 | -3.00% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15790.00 | 15883.00 | 0.59% |
| Net Income Margin (%) | 21.31% | 19.05% | -10.60% |
| P/E Multiple | 22.55 | 24.20 | 7.32% |
| Shares Outstanding (Mil) | 292.30 | 290.80 | 0.51% |
| Cumulative Contribution | -3.00% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| ITW | -3.0% | |
| Market (SPY) | 3.7% | 15.2% |
| Sector (XLI) | 2.6% | 49.3% |
Fundamental Drivers
The 3.7% change in ITW stock from 6/24/2025 to 12/23/2025 was primarily driven by a 14.4% change in the company's P/E Multiple.| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 242.81 | 251.83 | 3.72% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15764.00 | 15883.00 | 0.75% |
| Net Income Margin (%) | 21.37% | 19.05% | -10.85% |
| P/E Multiple | 21.16 | 24.20 | 14.37% |
| Shares Outstanding (Mil) | 293.60 | 290.80 | 0.95% |
| Cumulative Contribution | 3.71% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| ITW | 3.7% | |
| Market (SPY) | 13.7% | 26.7% |
| Sector (XLI) | 8.7% | 54.5% |
Fundamental Drivers
The 0.1% change in ITW stock from 12/23/2024 to 12/23/2025 was primarily driven by a 12.3% change in the company's P/E Multiple.| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 251.47 | 251.83 | 0.14% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15949.00 | 15883.00 | -0.41% |
| Net Income Margin (%) | 21.66% | 19.05% | -12.05% |
| P/E Multiple | 21.55 | 24.20 | 12.30% |
| Shares Outstanding (Mil) | 296.10 | 290.80 | 1.79% |
| Cumulative Contribution | 0.11% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| ITW | 0.1% | |
| Market (SPY) | 16.7% | 64.7% |
| Sector (XLI) | 19.1% | 76.8% |
Fundamental Drivers
The 20.9% change in ITW stock from 12/24/2022 to 12/23/2025 was primarily driven by a 8.9% change in the company's Net Income Margin (%).| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 208.22 | 251.83 | 20.94% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15640.00 | 15883.00 | 1.55% |
| Net Income Margin (%) | 17.49% | 19.05% | 8.91% |
| P/E Multiple | 23.50 | 24.20 | 2.98% |
| Shares Outstanding (Mil) | 308.80 | 290.80 | 5.83% |
| Cumulative Contribution | 20.53% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| ITW | 0.2% | |
| Market (SPY) | 48.4% | 58.7% |
| Sector (XLI) | 42.3% | 73.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ITW Return | 16% | 24% | -8% | 21% | -1% | 1% | 59% |
| Peers Return | 21% | 23% | -12% | 26% | 32% | 13% | 144% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| ITW Win Rate | 58% | 75% | 33% | 50% | 50% | 67% | |
| Peers Win Rate | 55% | 63% | 37% | 50% | 63% | 53% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| ITW Max Drawdown | -34% | -5% | -28% | -1% | -10% | -13% | |
| Peers Max Drawdown | -41% | -7% | -29% | -10% | -7% | -17% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: MMM, HON, DOV, PH, ETN. See ITW Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)
How Low Can It Go
| Event | ITW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -28.9% | -25.4% |
| % Gain to Breakeven | 40.7% | 34.1% |
| Time to Breakeven | 203 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -37.8% | -33.9% |
| % Gain to Breakeven | 60.9% | 51.3% |
| Time to Breakeven | 137 days | 148 days |
| 2018 Correction | ||
| % Loss | -33.5% | -19.8% |
| % Gain to Breakeven | 50.4% | 24.7% |
| Time to Breakeven | 353 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -56.3% | -56.8% |
| % Gain to Breakeven | 129.1% | 131.3% |
| Time to Breakeven | 1,261 days | 1,480 days |
Compare to GE, EMR, DOV, NDSN, LEG
In The Past
Illinois Tool Works's stock fell -28.9% during the 2022 Inflation Shock from a high on 1/4/2022. A -28.9% loss requires a 40.7% gain to breakeven.
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Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses. The Food Equipment segment provides warewashing, refrigeration, cooking, and food processing equipment; kitchen exhaust, ventilation, and pollution control systems; and food equipment maintenance and repair services. The Test & Measurement and Electronics segment produces and sells equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. The Welding segment produces arc welding equipment; and metal arc welding consumables and related accessories. The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. The Construction Products segment offers engineered fastening systems and solutions for the residential construction, renovation/remodel, and commercial construction markets. The Specialty Products segment offers beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. It serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets. The company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is based in Glenview, Illinois.
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Like 3M, but focused almost entirely on specialized industrial tools, equipment, and components for other businesses.
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```html- Automotive Components: Specialized fasteners, components, and assemblies supplied to original equipment manufacturers in the automotive industry.
- Foodservice Equipment: Commercial kitchen and food preparation equipment, including ovens, ranges, warewashers, and refrigeration units for restaurants and institutions.
- Welding Equipment and Consumables: Industrial arc welding equipment, filler metals, and accessories utilized across various manufacturing and construction applications.
- Construction Fasteners and Tools: Anchoring systems, power tools, and fastening solutions designed for professional contractors in commercial and residential construction.
- Test and Measurement Solutions: Advanced testing, measurement, and inspection equipment catering to industrial, electronics, and food packaging industries.
- Industrial Adhesives and Sealants: High-performance glues, epoxies, sealants, and coatings used across a wide range of manufacturing and maintenance applications.
- Specialty Industrial Products: A diverse range of niche industrial components, packaging solutions, and advanced polymers for various end markets.
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Illinois Tool Works (ITW) - Major Customers
Illinois Tool Works (symbol: ITW) primarily sells its products and services to other companies (Business-to-Business or B2B) across a wide range of industrial and commercial sectors globally. Due to the highly diversified nature of its business, which operates through seven segments, and its extensive global customer base, ITW does not have a material concentration of business with any single customer. As a result, specific "major customers" that individually account for a significant portion of ITW's revenue are not publicly disclosed. Instead, ITW serves thousands of customers across various industries. The primary categories of companies that purchase ITW's products and solutions include:-
Automotive, Transportation, and Construction Industries
This category includes automotive original equipment manufacturers (OEMs) and their Tier 1 suppliers, who utilize ITW's specialized components, fastening solutions, and fluid products. It also encompasses commercial and residential construction firms that rely on ITW's fastening systems and related products for building applications. -
Food Service, Hospitality, and Institutional Sectors
This broad category covers restaurants, hotels, hospitals, schools, supermarkets, convenience stores, and other institutions that purchase ITW's wide range of food equipment solutions, including cooking, refrigeration, washing, and waste disposal systems. -
Diversified Manufacturing and General Industrial Companies
This includes a vast array of businesses in general industrial manufacturing, metal fabrication, energy, electronics, packaging, product coding, and maintenance, repair, and operations (MRO). These customers utilize ITW's welding equipment, testing and measurement systems, industrial fluids, polymers, marking solutions, and various other industrial components and consumables.
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Christopher A. O'Herlihy, President & Chief Executive Officer
Christopher A. O'Herlihy joined ITW in 1989 and has served in numerous roles throughout the company. He held positions such as Group President within the Polymers & Fluids segment, Group President, International in the Food Equipment segment (2009), Group President, Food Equipment Segment Worldwide (2010), and was elected Executive Vice President in 2010 with global responsibility for ITW's Food Equipment segment. He served as Vice Chairman from August 2015 to December 2023. Mr. O'Herlihy was appointed President & Chief Executive Officer and to the Board of Directors effective January 1, 2024. He is a member of the Board of Directors for Masco Corporation.
Michael M. Larsen, Senior Vice President & Chief Financial Officer
Michael M. Larsen joined ITW in 2013. Prior to ITW, he served as President, Chief Executive Officer, and a Director of Gardner Denver, Inc. from 2012 to 2013, and also as its Vice President and Chief Financial Officer from 2010 to 2013. Before that, he was Chief Financial Officer at General Electric (GE) Water & Process Technologies from 2009 to 2010, and held various global finance leadership roles with increasing responsibility at GE for over 15 years, from 1995 to 2009. Mr. Larsen was a director of Gardner Denver Inc. until its acquisition by KKR & Co. Inc. in 2013.
E. Scott Santi, Non-Executive Chairman
E. Scott Santi joined ITW in 1983 and has spent his entire career with the company. He held various leadership positions, including Executive Vice President (2004-2008) and Vice Chairman (2008-2012). He served as Chief Executive Officer from November 2012 until his retirement as CEO in January 2024, and as Chairman from May 2015. He assumed the role of Non-Executive Chairman of ITW in March 2024. Mr. Santi has significant experience with acquisitions and divestitures and integrating acquired companies. He also serves as a director of W.W. Grainger, Inc.
Patricia A. Hartzell, Executive Vice President
Patricia A. Hartzell is an Executive Vice President at Illinois Tool Works Inc. She has a long tenure with the company, having served for more than 20 years.
Guilherme Silva, Executive Vice President, Construction Products
Guilherme Silva joined ITW in 2016 as Vice President & General Manager of ITW's Performance Polymers Division. In 2020, he became Group President of the Polymers platform. He was elected Executive Vice President of the Construction Products segment effective January 2024. Prior to joining ITW, Mr. Silva spent five years at Danaher Corporation and five years at McKinsey & Company.
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Key Risks to Illinois Tool Works (ITW)
- Global Economic Volatility and Slow Organic Growth: Illinois Tool Works is significantly exposed to global economic conditions, including geopolitical and economic volatility, financial market instability, inflation, and rising interest rates. Slower global economic growth directly reduces demand for ITW's products across its diverse end markets, notably in Construction Products and Automotive OEM. The company has consistently faced challenges with slow organic growth, with full-year 2025 guidance projecting organic growth in the range of flat to 2%. Foreign currency translation also contributes as a headwind to revenue.
- Supply Chain Disruptions and Raw Material Price Volatility: ITW's extensive global operations rely on complex supply chains that are vulnerable to disruptions, including transportation delays and increased costs from raw material inflation. Historical events like the COVID-19 pandemic have underscored the fragility of these global supply chains, and ongoing risks can impede ITW's ability to fulfill customer demand and maintain operational efficiency. The business also faces significant operational risks from raw material price volatility, which has shown substantial fluctuations.
- Intensifying Competition and Innovation Challenges: Illinois Tool Works operates within highly competitive markets where continuous innovation and technological advancements are essential for sustaining its competitive edge. The presence of both established competitors and new market entrants can lead to price pressures and a decrease in market share. A failure to consistently invest in research and development and to differentiate its product offerings could adversely affect ITW's competitive standing and profitability. Furthermore, ITW's revenue growth projections and potential margin pressures are noted concerns when compared to industry peers.
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The accelerating global transition from internal combustion engine (ICE) vehicles to electric vehicles (EVs) poses a significant emerging threat to ITW's Automotive OEM segment. As demand for ICE-related components declines, ITW faces the challenge of rapidly adapting its product portfolio, investing in EV-specific solutions, and competing effectively in a changing automotive supply chain, potentially rendering some legacy products obsolete or significantly less profitable if the company cannot pivot successfully and at scale.
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Addressable Markets for Illinois Tool Works (ITW) Main Products and Services:
- Automotive OEM (Fasteners): The global automotive fasteners market size was estimated at USD 21.61 billion in 2024 and is projected to reach USD 35.73 billion by 2033, growing at a CAGR of 5.8% from 2025 to 2033. The market is anticipated to rise from US$ 24.7 billion in 2025 to US$ 36.9 billion by 2032 globally. Asia Pacific held a 38.6% share of the overall market in 2024. North America is poised for substantial growth, projected to capture 28.3% market share in 2025 and register a 5.9% CAGR from 2025 to 2032.
- Food Equipment: The global food service equipment market size was estimated at USD 39.07 billion in 2024 and is projected to reach USD 58.22 billion by 2030. Another estimate places the global market at USD 46.80 billion in 2024, anticipated to reach approximately USD 82.24 billion by 2034. The Asia Pacific food service equipment market dominated the global market, accounting for a 36.9% revenue share in 2024. North America also held a dominant position in the global food service equipment market in 2023.
- Test & Measurement and Electronics: The global test and measurement equipment market size was valued at USD 38.91 billion in 2024 and is projected to reach USD 54.49 billion by 2032. Another source reported the global market at USD 35.96 billion in 2024, with projections to increase to approximately USD 56.30 billion by 2034. Asia Pacific dominated the global market revenue share in 2024, accounting for 41.5%. The North America test and measurement equipment market size reached USD 15.10 billion in 2024.
- Polymers & Fluids: The global polymers market size was approximately USD 792.57 billion in 2024 and is anticipated to reach around USD 1341.04 billion by 2034. Another report states the global polymers market size was USD 796.53 billion in 2024 and is expected to be worth around USD 1,351.59 billion by 2034. The Asia Pacific region accounted for 44% of the revenue share in the polymers market in 2024.
- Welding: The global welding equipment market size was estimated at USD 19.72 billion in 2023 and is projected to reach USD 27.77 billion by 2030. Another estimate shows the global welding equipment market size was valued at USD 11.20 billion in 2024 and is expected to reach USD 15.16 billion by 2033. The global welding equipment market size was valued at $8.3 billion in 2021 and is projected to reach $13.9 billion by 2031. In 2023, North America's welding equipment and consumables market reached around USD 2.7 billion.
- Construction Products: The global building materials market size was valued at USD 1.5 trillion in 2023 and is poised to grow to USD 2.17 trillion by 2032. Another source indicates the global building materials market size accounted for USD 1.35 trillion in 2024 and is expected to be worth around USD 2 trillion by 2034. Asia-Pacific contributed more than 38% of the revenue share in the building materials market in 2023. The global building product market size, which is a segment of building materials, is estimated at US$ 47.26 billion in 2024 and is forecasted to reach US$ 77.72 billion by 2034.
- Specialty Products (Industrial Packaging): The global industrial packaging market size was valued at USD 74.94 billion in 2024. The market is projected to be worth USD 78.5 billion in 2025 and reach USD 114.54 billion by 2032. Another report states the global industrial packaging market was valued at USD 68.7 billion in 2024 and is estimated to grow to USD 106.7 billion by 2034. Asia Pacific led the global industrial packaging market in 2023 with a share of 41.79%. The U.S. industrial packaging market is projected to reach USD 25.33 billion by 2032. The specialty packaging market is projected to grow at a CAGR of 7% from 2024 – 2030 globally.
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Illinois Tool Works (ITW) is expected to drive future revenue growth over the next two to three years through a combination of strategic initiatives and targeted market expansion. Key drivers include:
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Customer-Back Innovation (CBI) and New Product Launches: ITW emphasizes its Customer-Back Innovation process as the most impactful driver for consistently growing revenue. This approach guides how the company delivers value to its customers. New product launches, particularly in segments like Food Equipment and Welding, are anticipated to fuel organic growth.
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Strategic Enterprise Initiatives: The company's ongoing enterprise initiatives, including Product Line Simplification (PLS), are central to its strategy. While primarily focused on enhancing operating margins and operational efficiency, these initiatives also contribute to overall competitiveness and resource optimization, which indirectly supports above-market organic revenue growth. ITW aims for continuous improvement in these areas.
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Targeted Growth in Key End Markets and Geographies: ITW anticipates sustained momentum in specific sectors and regions. This includes the Automotive OEM segment, driven by growth in China and increasing electric vehicle (EV) content. The Asia Pacific region, especially China, has been a strong performer and is expected to continue contributing to growth. Additionally, stabilization and recovery in end markets such as Test & Measurement and Electronics are identified as catalysts for future revenue.
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Selective, High-Quality Acquisitions: As part of its "Next Phase" enterprise strategy, which commenced in 2024, ITW plans to add selective, high-quality acquisitions. These acquisitions are intended to complement and extend the company's long-term organic growth potential.
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Share Repurchases
- Illinois Tool Works plans to repurchase approximately $1.5 billion of its own shares in 2025.
- The company repurchased $1.5 billion in common stock during 2024 and $1.5 billion in 2023.
- A share buyback program worth $3 billion was approved by the board of directors in May 2021.
Share Issuance
- Illinois Tool Works has not reported significant share issuances for capital raising purposes in the last 3-5 years. The number of shares outstanding has generally decreased due to repurchases.
Inbound Investments
- No information is available regarding large inbound investments made in Illinois Tool Works by third-parties such as strategic partners or private equity firms within the specified timeframe.
Outbound Investments
- Illinois Tool Works had net acquisition activities of $280 million in 2024.
- The company divested businesses that generated operating revenue of $106 million in 2022 and $115 million in 2021.
Capital Expenditures
- Illinois Tool Works' capital expenditures averaged $367.2 million annually from fiscal years 2020 to 2024, with a median of $412 million.
- Capital expenditures peaked in December 2023 at $455 million and were $437 million in 2024. The latest twelve months capital expenditures as of September 30, 2025, amounted to $423 million.
- The primary focus of capital expenditures includes supporting ongoing operational needs and reinvesting to fund the expansion of existing U.S. businesses and general corporate needs.
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Select ideas related to ITW. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 17.7% | 17.7% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.4% | 4.4% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 6.3% | 6.3% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.2% | 2.2% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 6.3% | 6.3% | -0.4% |
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Peer Comparisons for Illinois Tool Works
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 225.89 |
| Mkt Cap | 98.9 |
| Rev LTM | 22,428 |
| Op Inc LTM | 4,606 |
| FCF LTM | 3,084 |
| FCF 3Y Avg | 2,946 |
| CFO LTM | 3,546 |
| CFO 3Y Avg | 3,601 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.8% |
| Rev Chg 3Y Avg | 2.9% |
| Rev Chg Q | 4.2% |
| QoQ Delta Rev Chg LTM | 1.1% |
| Op Mgn LTM | 19.7% |
| Op Mgn 3Y Avg | 18.4% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 16.9% |
| CFO/Rev 3Y Avg | 16.1% |
| FCF/Rev LTM | 13.8% |
| FCF/Rev 3Y Avg | 13.1% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Automotive Original Equipment Manufacturer (OEM) | 3,235 | 2,969 | 2,800 | 2,571 | 3,063 |
| Test & Measurement and Electronics | 2,832 | 2,828 | 2,346 | 1,963 | 2,121 |
| Food Equipment | 2,622 | 2,444 | 2,078 | 1,739 | 2,188 |
| Construction Products | 2,033 | 2,113 | 1,945 | 1,652 | 1,625 |
| Welding | 1,902 | 1,894 | 1,650 | 1,384 | 1,638 |
| Polymers & Fluids | 1,804 | 1,905 | 1,804 | 1,622 | 1,669 |
| Specialty Products | 1,697 | 1,799 | 1,854 | 1,660 | 1,825 |
| Intersegment revenue | -18 | -20 | -22 | -17 | -20 |
| Total | 16,107 | 15,932 | 14,455 | 12,574 | 14,109 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Food Equipment | 713 | 618 | 469 | 342 | 578 |
| Test & Measurement and Electronics | 686 | 684 | 643 | 507 | 542 |
| Welding | 605 | 583 | 490 | 376 | 453 |
| Construction Products | 578 | 548 | 530 | 421 | 383 |
| Automotive Original Equipment Manufacturer (OEM) | 561 | 499 | 545 | 457 | 659 |
| Polymers & Fluids | 482 | 479 | 457 | 402 | 381 |
| Specialty Products | 449 | 481 | 504 | 432 | 472 |
| Unallocated | -34 | -102 | -161 | -55 | -66 |
| Total | 4,040 | 3,790 | 3,477 | 2,882 | 3,402 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Test & Measurement and Electronics | 3,230 | 3,289 | 3,242 | 2,239 | 2,374 |
| Corporate | 3,023 | 2,680 | 3,809 | 4,659 | 3,807 |
| Automotive Original Equipment Manufacturer (OEM) | 2,615 | 2,447 | 2,260 | 2,302 | 2,417 |
| Polymers & Fluids | 1,762 | 1,819 | 1,881 | 1,855 | 1,862 |
| Specialty Products | 1,627 | 1,696 | 1,682 | 1,635 | 1,656 |
| Construction Products | 1,230 | 1,370 | 1,367 | 1,239 | 1,176 |
| Food Equipment | 1,193 | 1,188 | 1,052 | 983 | 1,042 |
| Welding | 838 | 933 | 784 | 700 | 734 |
| Total | 15,518 | 15,422 | 16,077 | 15,612 | 15,068 |
Price Behavior
Price Behavior
| Market Price | $251.83 | |
| Market Cap ($ Bil) | 73.2 | |
| First Trading Date | 11/05/1987 | |
| Distance from 52W High | -6.6% | |
| 50 Days | 200 Days | |
| DMA Price | $248.11 | $248.97 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 1.5% | 1.1% |
| 3M | 1YR | |
| Volatility | 19.3% | 22.6% |
| Downside Capture | 50.33 | 79.05 |
| Upside Capture | 26.95 | 67.07 |
| Correlation (SPY) | 14.9% | 64.6% |
ITW Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.10 | 0.16 | 0.26 | 0.54 | 0.75 | 0.78 |
| Up Beta | -0.22 | 0.07 | 0.30 | 0.74 | 0.80 | 0.82 |
| Down Beta | -0.39 | 0.28 | 0.17 | 0.41 | 0.74 | 0.74 |
| Up Capture | 43% | -7% | 7% | 40% | 48% | 42% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 11 | 19 | 31 | 63 | 119 | 394 |
| Down Capture | 14% | 28% | 47% | 62% | 85% | 94% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 8 | 22 | 31 | 62 | 128 | 355 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of ITW With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| ITW | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -1.2% | 20.4% | 18.8% | 72.9% | 9.0% | 3.7% | -11.4% |
| Annualized Volatility | 22.5% | 18.8% | 19.5% | 19.2% | 15.3% | 17.2% | 35.0% |
| Sharpe Ratio | -0.13 | 0.85 | 0.76 | 2.72 | 0.36 | 0.05 | -0.14 |
| Correlation With Other Assets | 76.7% | 64.5% | -1.5% | 18.9% | 68.9% | 20.7% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of ITW With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| ITW | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 6.6% | 13.8% | 14.8% | 18.9% | 11.8% | 4.7% | 35.5% |
| Annualized Volatility | 20.6% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.25 | 0.64 | 0.70 | 0.98 | 0.51 | 0.16 | 0.62 |
| Correlation With Other Assets | 78.5% | 66.2% | 7.2% | 15.4% | 61.2% | 20.9% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of ITW With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| ITW | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 13.1% | 13.5% | 14.8% | 15.1% | 6.8% | 5.4% | 69.1% |
| Annualized Volatility | 23.6% | 19.9% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.53 | 0.60 | 0.71 | 0.85 | 0.31 | 0.23 | 0.90 |
| Correlation With Other Assets | 82.9% | 72.9% | 0.0% | 24.2% | 59.7% | 13.1% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/24/2025 | -4.5% | -5.4% | -3.8% |
| 7/30/2025 | -2.2% | -1.3% | 2.8% |
| 4/30/2025 | -0.8% | -0.8% | 1.6% |
| 2/5/2025 | -0.2% | 1.6% | 4.1% |
| 10/30/2024 | 3.2% | 4.1% | 7.8% |
| 7/30/2024 | 0.5% | -3.5% | 0.5% |
| 4/30/2024 | -2.1% | -1.6% | -5.7% |
| 2/1/2024 | -2.1% | -2.6% | -0.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 15 |
| # Negative | 13 | 11 | 8 |
| Median Positive | 2.3% | 2.5% | 4.1% |
| Median Negative | -1.6% | -2.4% | -4.6% |
| Max Positive | 4.6% | 6.4% | 13.9% |
| Max Negative | -4.6% | -7.0% | -11.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10242025 | 10-Q 9/30/2025 |
| 6302025 | 8012025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2142025 | 10-K 12/31/2024 |
| 9302024 | 10302024 | 10-Q 9/30/2024 |
| 6302024 | 8022024 | 10-Q 6/30/2024 |
| 3312024 | 5022024 | 10-Q 3/31/2024 |
| 12312023 | 2092024 | 10-K 12/31/2023 |
| 9302023 | 10242023 | 10-Q 9/30/2023 |
| 6302023 | 8042023 | 10-Q 6/30/2023 |
| 3312023 | 5042023 | 10-Q 3/31/2023 |
| 12312022 | 2102023 | 10-K 12/31/2022 |
| 9302022 | 10272022 | 10-Q 9/30/2022 |
| 6302022 | 8052022 | 10-Q 6/30/2022 |
| 3312022 | 5062022 | 10-Q 3/31/2022 |
| 12312021 | 2112022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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