Illinois Tool Works (ITW) 10-K Summary — Year Ended Dec 31, 2024
Illinois Tool Works Inc. operates as a diversified industrial manufacturer. For the reporting period, revenue was approximately fifteen point nine billion dollars, operating income was about four point three billion dollars, net income was roughly three point five billion dollars, and operating cash flow totaled around three point three billion dollars.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Illinois Tool Works Inc. operates as a diversified industrial manufacturer. For the reporting period, revenue was approximately fifteen point nine billion dollars, operating income was about four point three billion dollars, net income was roughly three point five billion dollars, and operating cash flow totaled around three point three billion dollars.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$15.9B
Revenue reported for the fiscal year.
Operating income
$4.3B
Income from operations reported for the year.
Net income
$3.5B
Net income reported for the year.
Operating cash flow
$3.3B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $14.5B | n/a |
| Dec 31, 2022 | $15.9B | +10.2% |
| Dec 31, 2023 | $16.1B | +1.1% |
| Dec 31, 2024 | $15.9B | -1.3% |
Business overview
The company's business overview is outlined in Item 1 of the filing, which covers its operations, risk factors, staff comments, and cybersecurity. Management's discussion and analysis in Item 7 provides further context on financial condition and results.
Financial performance
Revenue for the most recent period was fifteen point nine billion dollars, compared to sixteen point one billion dollars in the prior period, indicating a slight decline. Net income was three point five billion dollars, and operating cash flow was three point three billion dollars.
Material risks
The filing identifies risk factors in Item 1A, which are integrated within the business section. Specific risks are not elaborated in the supplied contexts beyond the mention of the risk factors item.
Liquidity and capital
Primary liquidity sources are free cash flow and short-term credit facilities, with nearly nine hundred forty-eight million dollars in cash and no borrowings under a three billion dollar revolving credit facility. Management believes these sources are sufficient to service debt and fund capital allocation priorities including internal investments, dividends, acquisitions, and share repurchases.
What to watch
Monitor whether revenue trends continue to decline or stabilize in the next filing.