Illinois Tool Works (ITW) FY2024 results: revenue $15.9 billion, down 1.3% on the year
Illinois Tool Works Inc. (ITW) reported revenue of $15.9 billion for fiscal 2024, the year ended 31 December 2024, down 1.3% on the year before. Net income was $3.5 billion, up 18.0%, and diluted earnings per share $11.71. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$15.9 billion
-1.3% on the year
FY2017FY2024
Operating margin
26.8%
25.1% a year earlier
FY2017FY2024
Net income
$3.5 billion
+18.0% on the year
FY2017FY2024
Diluted EPS
$11.71
+20.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,281
3,539
2,348
-7.3%
Capital expenditure
437
455
412
-4.0%
Free cash flow
2,844
3,084
1,936
-7.8%
Free cash flow margin
17.9%
19.1%
12.2%
Cash from investing
-144
-403
-110
Cash from financing
-3,189
-2,782
-3,000
Share-based compensation
61.0
69.0
63.0
-11.6%
Buybacks
1,500
1,500
1,750
0.0%
Dividends paid
1,695
1,615
1,542
+5.0%
Dividend per share
$5.80
$5.42
$5.06
+7.0%
Diluted shares, weighted
298m
304m
311m
-1.9%
Shares outstanding at period end
294m
299m
305m
-1.8%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
3,317
3,013
3,089
+10.1%
Debt
7,863
8,164
7,763
-3.7%
Operating lease liabilities
158
148
131
+6.8%
Other liabilities
3,729
4,193
4,439
-11.1%
Total liabilities and equity
15,067
15,518
15,422
-2.9%
Fixed assets
2,036
1,976
1,848
+3.0%
Goodwill
4,839
4,909
4,864
-1.4%
Intangible assets
592
657
768
-9.9%
Cash and equivalents
948
1,065
708
-11.0%
Receivables
2,991
3,123
3,171
-4.2%
Inventory
1,605
1,707
2,054
-6.0%
Other assets
2,056
2,081
2,009
-1.2%
Total assets
15,067
15,518
15,422
-2.9%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.