Net Income for Illinois Tool Works (ITW)
According to Illinois Tool Works's latest reported financial statements, the company's current net income (TTM) is $3.07B USD. Net income is the bottom-line profit after all expenses — cost of goods sold, operating expenses, interest, and taxes — are subtracted from revenue. It is the figure used to compute earnings per share (EPS) and is the residual available to shareholders.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingNet IncomeSwitch metric
TTM (last 4 quarters)
$3.07B
YoY change
-12.1%
5Y CAGR
+7.8%
Peak year (2024)
$3.49B
Cumulative net income
$56.07B
Net Income history chart for Illinois Tool Works (ITW) from 1985 to 2025
Net Income history table for Illinois Tool Works (ITW) from 1985 to 2025
| Fiscal year | Period ended | Reported | Net Income | YoY |
|---|---|---|---|---|
| 2025 | $3.07B | -12.1% | ||
| 2024 | $3.49B | +18.0% | ||
| 2023 | $2.96B | -2.5% | ||
| 2022 | $3.03B | +12.6% | ||
| 2021 | $2.69B | +27.7% | ||
| 2020 | $2.11B | -16.3% | ||
| 2019 | $2.52B | -1.6% | ||
| 2018 | $2.56B | +51.9% | ||
| 2017 | $1.69B | -17.1% | ||
| 2016 | $2.04B | +7.2% | ||
| 2015 | $1.90B | -35.5% | ||
| 2014 | $2.95B | +75.5% | ||
| 2013 | $1.68B | -41.5% | ||
| 2012 | $2.87B | +38.6% | ||
| 2011 | $2.07B | +35.6% | ||
| 2010 | $1.53B | +61.3% | ||
| 2009 | $947.01M | -37.7% | ||
| 2008 | $1.52B | -18.8% | ||
| 2007 | $1.87B | +8.9% | ||
| 2006 | $1.72B | +14.9% | ||
| 2005 | $1.49B | +11.7% | ||
| 2004 | $1.34B | +30.8% | ||
| 2003 | $1.02B | +43.7% | ||
| 2002 | $712.59M | -11.6% | ||
| 2001 | $805.66M | -15.9% | ||
| 2000 | $957.98M | +13.9% | ||
| 1999 | $841.10M | +25.0% | ||
| 1998 | $672.80M | +14.6% | ||
| 1997 | $587.00M | +20.7% | ||
| 1996 | $486.30M | +25.5% | ||
| 1995 | $387.60M | +39.5% | ||
| 1994 | $277.80M | +34.5% | ||
| 1993 | $206.60M | +7.5% | ||
| 1992 | $192.10M | +6.4% | ||
| 1991 | $180.60M | -1.0% | ||
| 1990 | $182.40M | +11.4% | ||
| 1989 | $163.80M | +17.0% | ||
| 1988 | $140.00M | +31.8% | ||
| 1987 | $106.20M | +33.4% | ||
| 1986 | $79.60M | +152.7% | ||
| 1985 | $31.50M | — |
Net Income values are taken from Illinois Tool Works's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
Illinois Tool Works (ITW) most recent annual net income stands at $3.07B (2025) – declined 12.1% year-over-year.
Illinois Tool Works net income compound annual growth for the 2020–2025 (5 years) window is +7.8%, with the latest reading among the more recent periods of the dataset.
Illinois Tool Works net income declined from $3.49B in 2024 to $3.07B in 2025, a 12.1% drawdown.
The highest annual net income of $3.49B was reported in 2024. The lowest in the available history was $31.50M in 1985.
Illinois Tool Works (ITW) sits 8th of 8 Industrials peers we track on this metric, against a peer median of $5.88B.
Illinois Tool Works Net Income by Year
Illinois Tool Works Net Income 2025: $3.07B
Illinois Tool Works net income in 2025 was $3.07B, declined 12.1% below 2024.
Illinois Tool Works Net Income 2024: $3.49B
Illinois Tool Works net income in 2024 was $3.49B, grew 18.0% from 2023. This figure represents the highest annual value in the available history.
Illinois Tool Works Net Income 2023: $2.96B
Illinois Tool Works net income in 2023 was $2.96B, edged down 2.5% below 2022.
Illinois Tool Works Net Income 2022: $3.03B
Illinois Tool Works net income in 2022 was $3.03B, grew 12.6% from 2021.
Illinois Tool Works Net Income 2021: $2.69B
Illinois Tool Works net income in 2021 was $2.69B.
See more financial history for Illinois Tool Works (ITW).
Sector peers — Net Income
Companies in the same sector as Illinois Tool Works, ranked by their latest net income.
| Company | Net Income | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $8.87B | Industrials |
| GE Aerospace (GE) | $8.70B | Industrials |
| Union Pacific Corporation (UNP) | $7.14B | Industrials |
| RTX Corporation (RTX) | $6.73B | Industrials |
| Deere & Company (DE) | $5.03B | Industrials |
| Honeywell International Inc. (HON) | $4.73B | Industrials |
| Eaton Corporation plc (ETN) | $4.09B | Industrials |
| The Boeing Company (BA) | $2.23B | Industrials |
Frequently asked questions
What is Illinois Tool Works's net income?
- Latest reported net income for Illinois Tool Works (ITW) is $3.07B (period ending December 31, 2025).
How has Illinois Tool Works net income changed year-over-year?
- Illinois Tool Works (ITW) net income changed -12.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Illinois Tool Works net income?
- Illinois Tool Works (ITW) net income compound annual growth rate is +7.8% over the most recent 5 years available.
When did Illinois Tool Works net income hit its highest annual value?
- Illinois Tool Works net income reached its highest annual value of $3.49B in 2024.
What was Illinois Tool Works net income in 2024?
- Illinois Tool Works (ITW) net income in 2024 was $3.49B.
What was Illinois Tool Works net income in 2025?
- Illinois Tool Works (ITW) net income in 2025 was $3.07B.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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