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Illinois Tool Works Inc. (ITW) Q2 FY2026 Financial Statements: Revenue $4.30B, Net income $815.00M

CIK 0000049826 · NYSE · Latest period: Q2 FY2026 (ended 2026-06-30, 10-Q accession 0000049826-26-000049) · Annual report: FY2025 10-K (filed 2026-02-13, accession 0000049826-26-000008) · Next filing: 10-Q, due (projected 2026-10-23)

More for Illinois Tool Works: Company index · 10-K and 10-Q summary · 8-K filings and events

PeriodQ2 FY2026

Published

Illinois Tool Works reported $4.30 billion in operating revenue for Q2 FY2026, the quarter ended June 30, 2026, up 6.1% from a year earlier, with net income of $815 million and diluted earnings per share of $2.84, up 10.1%. Operating income rose to $1.15 billion, up 7.4%, in what the company called the most profitable quarter in its history, as its Test & Measurement and Electronics and Welding segments led the growth. Free cash flow was $631 million, compared with $449 million a year earlier.

MetricAmountvs. year ago
Revenue$4,301,000,000up 6.1%
Net income$815,000,000up 7.9%
Diluted EPS$2.84up 10.1%
Operating income$1,147,000,000up 7.4%
Free cash flow$631,000,000up 40.5%

Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.

About this file

TickerITW
CIK0000049826
CompanyIllinois Tool Works Inc.
Business typeindustrial
Schema templatestandard industrial: operating revenue, cost of revenue, gross profit, operating expenses as the statement prints them, operating income, interest, pre-tax income, taxes, net income, EPS and weighted shares; full balance sheet with total debt and shares outstanding; operating, investing and financing cash flow with capital expenditures, free cash flow, dividends and buybacks; and operating revenue and operating income for ITW's seven reportable segments
Reporting currencyUSD
Converted to USDno
Unitsactual US dollars (not millions); per-share amounts in dollars; share counts in actual shares. Cash outflows (capital expenditures, acquisitions, dividends paid, share repurchases) and interest expense are stored as positive amounts; net investing and financing cash flows keep the sign the statement prints.

ITW annual income statement, balance sheet and cash flow

FY2025FY2024FY2023
Period start2025-01-012024-01-012023-01-01
Period end2025-12-312024-12-312023-12-31
Period typefiscal yearfiscal yearfiscal year
Source accession10-K10-K10-K
Income statement
Revenue16,044,000,00015,898,000,00016,107,000,000
Cost of revenue8,969,000,0008,858,000,0009,316,000,000
Selling administrative and research and development expenses2,779,000,0002,675,000,0002,638,000,000
Amortization and impairment of intangible assets80,000,000101,000,000113,000,000
Operating income4,216,000,0004,264,000,0004,040,000,000
Interest expense292,000,000283,000,000266,000,000
Other income expense42,000,000441,000,00049,000,000
Income before taxes3,966,000,0004,422,000,0003,823,000,000
Income taxes900,000,000934,000,000866,000,000
Net income3,066,000,0003,488,000,0002,957,000,000
Gross profit7,075,000,0007,040,000,0006,791,000,000
Basic EPS10.5211.759.77
Diluted EPS10.4911.719.74
Basic shares291,500,000296,800,000302,600,000
Diluted shares292,300,000297,800,000303,600,000
Balance sheet
Cash and equivalents851,000,000948,000,000
Trade receivables3,227,000,0002,991,000,000
Inventories1,659,000,0001,605,000,000
Prepaid expenses and other current assets463,000,000312,000,000
Total current assets6,200,000,0005,856,000,000
Net plant and equipment2,230,000,0002,036,000,000
Goodwill5,098,000,0004,839,000,000
Intangible assets591,000,000592,000,000
Deferred income tax assets519,000,000369,000,000
Other assets1,510,000,0001,375,000,000
Total assets16,148,000,00015,067,000,000
Short term debt2,286,000,0001,555,000,000
Accounts payable522,000,000519,000,000
Accrued expenses1,636,000,0001,576,000,000
Cash dividends payable465,000,000441,000,000
Income taxes payable217,000,000217,000,000
Total current liabilities5,126,000,0004,308,000,000
Long term debt6,683,000,0006,308,000,000
Deferred income tax liabilities154,000,000119,000,000
Other liabilities959,000,0001,015,000,000
Total noncurrent liabilities7,796,000,0007,442,000,000
Additional paid in capital1,771,000,0001,669,000,000
Retained earnings30,150,000,00028,893,000,000
Common stock held in treasury-26,875,000,000-25,375,000,000
Accumulated other comprehensive income loss-1,827,000,000-1,877,000,000
Noncontrolling interest1,000,0001,000,000
Total stockholders equity3,226,000,0003,317,000,000
Common stock6,000,0006,000,000
Total liabilities12,922,000,00011,750,000,000
Total debt8,969,000,0007,863,000,000
Shares outstanding288,600,000294,000,000
Cash flow
Net income3,066,000,0003,488,000,0002,957,000,000
Depreciation317,000,000301,000,000282,000,000
Amortization and impairment of intangible assets80,000,000101,000,000113,000,000
Stock based compensation expense69,000,00061,000,00069,000,000
Net cash provided by operating activities3,126,000,0003,281,000,0003,539,000,000
Acquisition of businesses119,000,000115,000,0000
Capital expenditures419,000,000437,000,000455,000,000
Net cash provided by used for investing activities-521,000,000-144,000,000-403,000,000
Cash dividends paid1,785,000,0001,695,000,0001,615,000,000
Repurchases of common stock1,500,000,0001,500,000,0001,500,000,000
Net proceeds from repayments of short term debt508,000,000312,000,000-452,000,000
Net cash provided by used for financing activities-2,744,000,000-3,189,000,000-2,782,000,000
Free cash flow2,707,000,0002,844,000,0003,084,000,000
Shareholder returns
Dividends declared1,809,000,0001,717,000,0001,634,000,000
Dividends declared per share6.225.805.42
Cash dividends paid1,785,000,0001,695,000,0001,615,000,000
Repurchases of common stock1,500,000,0001,500,000,0001,500,000,000
Segments
Automotive oem
Operating revenue3,288,000,0003,188,000,0003,235,000,000
Operating income693,000,000625,000,000561,000,000
Food equipment
Operating revenue2,699,000,0002,647,000,0002,622,000,000
Operating income753,000,000719,000,000713,000,000
Test and measurement and electronics
Operating revenue2,825,000,0002,818,000,0002,832,000,000
Operating income694,000,000703,000,000686,000,000
Welding
Operating revenue1,890,000,0001,851,000,0001,902,000,000
Operating income621,000,000597,000,000605,000,000
Polymers and fluids
Operating revenue1,765,000,0001,764,000,0001,804,000,000
Operating income493,000,000484,000,000482,000,000
Construction products
Operating revenue1,820,000,0001,909,000,0002,033,000,000
Operating income550,000,000559,000,000578,000,000
Specialty products
Operating revenue1,775,000,0001,743,000,0001,697,000,000
Operating income553,000,000528,000,000449,000,000
Total segments operating revenue16,062,000,00015,920,000,00016,125,000,000
Intersegment revenue-18,000,000-22,000,000-18,000,000
Total segments operating income4,357,000,0004,215,000,0004,074,000,000
Unallocated operating income-141,000,00049,000,000-34,000,000

ITW quarterly income statement, balance sheet and cash flow

Q2 FY2026Q2 FY2025
Fiscal quarter22
Period start2026-04-012025-04-01
Period end2026-06-302025-06-30
Period typethree monthsthree months
Source accession10-Q10-Q
Income statement
Revenue4,301,000,0004,053,000,000
Cost of revenue2,403,000,0002,271,000,000
Selling administrative and research and development expenses735,000,000693,000,000
Amortization and impairment of intangible assets16,000,00021,000,000
Operating income1,147,000,0001,068,000,000
Interest expense79,000,00074,000,000
Other income expense12,000,0004,000,000
Income before taxes1,080,000,000998,000,000
Income taxes265,000,000243,000,000
Net income815,000,000755,000,000
Gross profit1,898,000,0001,782,000,000
Basic EPS2.852.58
Diluted EPS2.842.58
Basic shares286,400,000292,300,000
Diluted shares287,000,000292,900,000
Balance sheet
Cash and equivalents839,000,000
Trade receivables3,564,000,000
Inventories1,756,000,000
Prepaid expenses and other current assets441,000,000
Total current assets6,600,000,000
Net plant and equipment2,235,000,000
Goodwill5,074,000,000
Intangible assets558,000,000
Deferred income tax assets489,000,000
Other assets1,538,000,000
Total assets16,494,000,000
Short term debt3,145,000,000
Accounts payable636,000,000
Accrued expenses1,592,000,000
Cash dividends payable457,000,000
Income taxes payable123,000,000
Total current liabilities5,953,000,000
Long term debt6,549,000,000
Deferred income tax liabilities162,000,000
Other liabilities935,000,000
Total noncurrent liabilities7,646,000,000
Additional paid in capital1,838,000,000
Retained earnings30,812,000,000
Common stock held in treasury-28,004,000,000
Accumulated other comprehensive income loss-1,758,000,000
Noncontrolling interest1,000,000
Total stockholders equity2,895,000,000
Common stock6,000,000
Total liabilities13,599,000,000
Total debt9,694,000,000
Shares outstanding284,800,000
Cash flow
Net cash provided by operating activities723,000,000550,000,000
Capital expenditures92,000,000101,000,000
Cash dividends paid463,000,000439,000,000
Repurchases of common stock750,000,000375,000,000
Free cash flow631,000,000449,000,000
Shareholder returns
Dividends declared457,000,000438,000,000
Dividends declared per share1.611.50
Cash dividends paid463,000,000439,000,000
Repurchases of common stock750,000,000375,000,000
Segments
Automotive oem
Operating revenue857,000,000845,000,000
Operating income185,000,000180,000,000
Food equipment
Operating revenue692,000,000680,000,000
Operating income188,000,000189,000,000
Test and measurement and electronics
Operating revenue769,000,000686,000,000
Operating income193,000,000157,000,000
Welding
Operating revenue549,000,000479,000,000
Operating income178,000,000159,000,000
Polymers and fluids
Operating revenue476,000,000438,000,000
Operating income140,000,000121,000,000
Construction products
Operating revenue494,000,000473,000,000
Operating income151,000,000145,000,000
Specialty products
Operating revenue468,000,000455,000,000
Operating income148,000,000148,000,000
Total segments operating revenue4,305,000,0004,056,000,000
Intersegment revenue-4,000,000-3,000,000
Total segments operating income1,183,000,0001,099,000,000
Unallocated operating income-36,000,000-31,000,000

ITW year-to-date income statement and cash flow

Six months ended June 30, 2026Six months ended June 30, 2025
Period start2026-01-012025-01-01
Period end2026-06-302025-06-30
Period typesix monthssix months
Source accession10-Q10-Q
Income statement
Revenue8,317,000,0007,892,000,000
Cost of revenue4,659,000,0004,432,000,000
Selling administrative and research and development expenses1,457,000,0001,399,000,000
Amortization and impairment of intangible assets34,000,00042,000,000
Operating income2,167,000,0002,019,000,000
Interest expense152,000,000142,000,000
Other income expense32,000,00016,000,000
Income before taxes2,047,000,0001,893,000,000
Income taxes464,000,000438,000,000
Net income1,583,000,0001,455,000,000
Gross profit3,658,000,0003,460,000,000
Basic EPS5.514.97
Diluted EPS5.504.95
Basic shares287,300,000292,900,000
Diluted shares288,100,000293,700,000
Cash flow
Net income1,583,000,0001,455,000,000
Depreciation163,000,000152,000,000
Amortization and impairment of intangible assets34,000,00042,000,000
Stock based compensation expense40,000,00035,000,000
Net cash provided by operating activities1,346,000,0001,142,000,000
Acquisition of businesses0-1,000,000
Capital expenditures187,000,000197,000,000
Net cash provided by used for investing activities-184,000,000-184,000,000
Cash dividends paid928,000,000880,000,000
Repurchases of common stock1,125,000,000750,000,000
Net proceeds from repayments of short term debt855,000,000464,000,000
Net cash provided by used for financing activities-1,179,000,000-1,151,000,000
Free cash flow1,159,000,000945,000,000
Shareholder returns
Dividends declared921,000,000877,000,000
Dividends declared per share3.223.00
Cash dividends paid928,000,000880,000,000
Repurchases of common stock1,125,000,000750,000,000
Segments
Automotive oem
Operating revenue1,677,000,0001,631,000,000
Operating income358,000,000331,000,000
Food equipment
Operating revenue1,329,000,0001,307,000,000
Operating income345,000,000355,000,000
Test and measurement and electronics
Operating revenue1,484,000,0001,338,000,000
Operating income357,000,000296,000,000
Welding
Operating revenue1,056,000,000951,000,000
Operating income341,000,000312,000,000
Polymers and fluids
Operating revenue928,000,000867,000,000
Operating income266,000,000235,000,000
Construction products
Operating revenue952,000,000916,000,000
Operating income286,000,000275,000,000
Specialty products
Operating revenue899,000,000890,000,000
Operating income283,000,000283,000,000
Total segments operating revenue8,325,000,0007,900,000,000
Intersegment revenue-8,000,000-8,000,000
Total segments operating income2,236,000,0002,087,000,000
Unallocated operating income-69,000,000-68,000,000

ITW trailing twelve month income statement and cash flow

Twelve months ended June 30, 2026
Period start2025-07-01
Period end2026-06-30
Period typetrailing twelve months
Source accession10-Q
Derived from accessions10-K, 10-Q
Income statement
Revenue16,469,000,000
Cost of revenue9,196,000,000
Gross profit7,273,000,000
Selling administrative and research and development expenses2,837,000,000
Amortization and impairment of intangible assets72,000,000
Operating income4,364,000,000
Interest expense302,000,000
Other income expense58,000,000
Income before taxes4,120,000,000
Income taxes926,000,000
Net income3,194,000,000
Cash flow
Net cash provided by operating activities3,330,000,000
Capital expenditures409,000,000
Cash dividends paid1,833,000,000
Repurchases of common stock1,875,000,000
Free cash flow2,921,000,000

Adjustments

Splits appliednone
ADR ration/a
FXnone; Illinois Tool Works reports in US dollars

Notes

  • Sources: the annual figures for 2023, 2024 and 2025 come from Illinois Tool Works' FY2025 Form 10-K (accession 0000049826-26-000008); the second-quarter and six-month figures for 2026 and 2025, and the June 30, 2026 balance sheet, come from the Q2 2026 Form 10-Q (accession 0000049826-26-000049). The 10-K prints balance sheets only for December 31, 2025 and 2024, so FY2023 carries no balance sheet; the 10-Q prints no June 30, 2025 balance sheet, so the Q2 FY2025 quarter carries none either.
  • Template: a standard industrial layout, because ITW is a diversified manufacturer of industrial products and equipment organised into seven reportable segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.
  • ITW calls its top line "Operating Revenue"; it is recorded here as revenue. ITW does not print a gross profit line; gross_profit is operating revenue less cost of revenue, computed from the printed figures.
  • ITW's balance sheet prints total current and total noncurrent liabilities but no total; total_liabilities is their sum. total_debt is short-term plus long-term debt and equals the total debt each filing prints in its debt table ($8,969 million at December 31, 2025; $9,694 million at June 30, 2026). shares_outstanding is the count printed in the balance sheet's common stock caption (288.6 million at December 31, 2025; 294.0 million at December 31, 2024; 284.8 million at June 30, 2026). Total stockholders' equity includes a $1 million noncontrolling interest.
  • The 10-Q's statement of cash flows covers the six months only. The three-month operating cash flow, additions to plant and equipment, free cash flow, dividends paid and share repurchases for the second quarters of 2026 and 2025 are the figures printed in the same 10-Q's management's discussion (Cash Flow section), which also prints the six-month columns that match the cash flow statement.
  • Free cash flow is ITW's own non-GAAP measure: net cash provided by operating activities less additions to plant and equipment. Every free cash flow figure here equals the amount ITW prints for that period.
  • The trailing-twelve-months view (July 1, 2025 to June 30, 2026) is computed as FY2025 plus the first six months of 2026 less the first six months of 2025. Per-share figures are not computed for it.
  • The 10-Q does not present the first quarter of 2026 as a separate column, so no Q1 FY2026 quarter is included here.
  • FY2024 other income (expense) of $441 million includes a $363 million gain on the sale of ITW's noncontrolling interest in Wilsonart International Holdings LLC, as the FY2025 10-K's cash flow statement shows. FY2023 and FY2025 other income (expense) was $49 million and $42 million.
  • The 10-Q states that certain prior-year data were reclassified to conform with current-year reporting; the 2025 comparative quarter and six months are recorded as the Q2 2026 10-Q presents them.
  • Interest expense, capital expenditures, acquisitions, dividends and share repurchases are stored as positive amounts although the statements print them in parentheses. Dividends declared and dividends per share come from the statement of changes in stockholders' equity.

Uncertainties

  • Six-month 2026 diluted EPS is recorded as printed ($5.50). Dividing the printed six-month net income ($1,583 million) by the printed diluted share count (288.1 million) gives about $5.49; the filing does not explain the one-cent difference.

Company details

NameIllinois Tool Works Inc
TickerITW
CIK0000049826
ExchangeNYSE
StateIllinois
IncorporationDelaware
SIC3560
OfficeTechnology
IndustryGeneral Industrial Machinery & Equipment

Fiscal period

Fiscal year2026
Fiscal periodQ2
TagFY26Q2
Period end2026-06-30
Form10-Q
Accession0000049826-26-000049
Fiscal year end1231
Sourcefacts

Source filings

RoleCurrentFormFiscal yearFiscal periodTagPeriod endFiledAccessionSource
annualno10-K2025FYFY252025-12-312026-02-130000049826-26-000008reported
quarterlyyes10-Q2026Q2FY26Q22026-06-302026-08-060000049826-26-000049facts

FAQ · Illinois Tool Works financial statements

How much revenue did Illinois Tool Works make in Q2 FY2026?

Illinois Tool Works reported operating revenue of $4.30 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 6.1% from $4.05 billion in the same quarter a year earlier.

What were Illinois Tool Works' earnings per share in Q2 FY2026?

Illinois Tool Works earned $2.84 per diluted share in Q2 FY2026, up 10.1% from $2.58 a year earlier, on net income of $815 million compared with $755 million.

What was Illinois Tool Works' operating income in Q2 FY2026?

Illinois Tool Works reported operating income of $1.15 billion for the quarter ended June 30, 2026, up 7.4% from $1.07 billion a year earlier.

How much free cash flow did Illinois Tool Works generate in Q2 FY2026?

Illinois Tool Works generated free cash flow of $631 million in Q2 FY2026, up 40.5% from $449 million in the same quarter a year earlier. The company defines free cash flow as net cash provided by operating activities less additions to plant and equipment.

Where can I get Illinois Tool Works Inc. (ITW) financial data in machine-readable form?

Ticker Scout publishes Illinois Tool Works Inc.'s financial statements as JSON at https://tickerscout.ai/itw/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/itw/narrative.md and https://tickerscout.ai/itw/events.md. Illinois Tool Works Inc.'s SEC CIK is 0000049826. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.

When does Illinois Tool Works Inc. (ITW) next file with the SEC?

Illinois Tool Works Inc. (ITW) is due to file its next Form 10-Q with the SEC. The projected date, October 23, 2026, has passed, which means the filing is due or overdue rather than already reported here. That date is a projection rather than a company-announced date: it is derived from Illinois Tool Works Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000049826-26-000049.

How this page was built

This page was built from two of Illinois Tool Works Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names one such gap.

A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.

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Built from Illinois Tool Works Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.