Illinois Tool Works
Financial Performance
Illinois Tool Works Revenue & Financials
Revenue
$15.9B (FY2024)
Market Cap
$74.5B
Employees
45,000
What is Illinois Tool Works's revenue?
Illinois Tool Works had $15.9B in revenue for fiscal year 2024, down 1% from 2023.
- Latest revenue
- $15.9B (FY2024)
- Year-over-year
- -1%
- Growth rate (CAGR)
- 3.3% over 3 years
- Peak revenue
- $16.1B (FY2023)
- Years of data
- 4
- Employees
- 45,000
- How many employees does Illinois Tool Works have?
- Illinois Tool Works has about 45,000 employees.
Financial Analysis
Illinois Tool Works delivers elite financial profitability characterized by industry-leading operating profit margins, exceptional return on invested capital (ROIC) exceeding 30%, and reliable free cash flow conversion. In fiscal 2024, ITW generated revenue of $15.95 billion, maintaining resilient profitability despite cyclical softness in automotive production and construction. Enterprise operating margin expanded to an all-time record of 26.5%, reflecting relentless 80/20 operational execution and high pricing realization. Operating cash flow surpassed $3.4 billion, and free cash flow reached $3.05 billion, representing an exceptional 118% free cash flow conversion rate. ITW is a celebrated Dividend Aristocrat, having increased its annual dividend for more than 60 consecutive years.
Revenue Trend Analysis
YoY Change
-1%
3-Year CAGR
+3.3%
Peak Year
2023
Trend
Mostly Growing
Illinois Tool Works has 4 full fiscal year figures on this page, compounding at +3.3% annually over 3 years. The most recent year saw a 1% decline versus the prior year. Annual revenue peaked in fiscal year 2023 at $16.1B. Of 3 comparable year-over-year steps, 2 showed growth and 1 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change |
|---|---|---|
| FY2024 | $15.9B | -1.0% |
| FY2023 | $16.1B | +1.1% |
| FY2022 | $15.9B | +10.2% |
| FY2021 | $14.5B | — |
Click any row to see year details.
Keep researching Illinois Tool Works
Illinois Tool Works Revenue and Financial FAQ
What was Illinois Tool Works's revenue in 2024?
Illinois Tool Works achieved $15.95 billion in revenue for fiscal year 2024.
Is Illinois Tool Works profitable?
Illinois Tool Works's financial performance balances disciplined operating profitability with strategic reinvestment into engineering, infrastructure, and international sales expansion.
How fast is Illinois Tool Works growing?
Illinois Tool Works has achieved solid compound annual revenue growth supported by strong enterprise customer retention and expanding average contract values.
How does Illinois Tool Works fund its capital expenditures?
Illinois Tool Works funds capital outlays through operating cash flows, institutional credit facilities, and equity capital reserves.
What is Illinois Tool Works's debt profile?
Illinois Tool Works maintains a conservative debt-to-capitalization profile, prioritizing financial flexibility and low interest obligations.
Where does Illinois Tool Works reinvest its profits?
Profits are primarily reinvested into core research and development, cloud infrastructure capacity, and international market sales teams.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Illinois Tool Works Revenue & Financials." CorpDigest, https://corpdigest.com/company/illinois-tool-works/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Illinois Tool Works reported $15.9B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/illinois-tool-works/financials" target="_blank" rel="noopener">CorpDigest — Illinois Tool Works financials</a></div>Explore Illinois Tool Works
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