Illinois Tool Works Inc. Financial Ratios — ITW Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	21.36	27.89	16.57	35.66	31.54	42.94	38.17	65.39	80.29	67.96	79.17	90.39	96.95	110.24	93.75
Return on Assets (%)	12.1	15.39	8.55	15.74	11.44	13.16	10.55	16.2	16.84	13.75	17	19.26	19.11	22.81	19.64
Return on Capital (%)	16.95	20.37	11.65	20.6	15.3	17.79	14.57	23.41	24.91	20.21	24.85	28.34	28.21	32.59	27.62
Return on Invested Capital (%)	14.09	11.57	10.96	13.28	14.82	17.13	13.85	22.83	24.02	19.95	24.41	26.35	27.53	29.08	26.92
Gross Margin (%)	37.38	38.25	39.48	40.12	41.16	41.85	41.97	41.74	41.97	41.35	41.27	40.82	42.16	44.28	44.1
EBITDA Margin (%)	20.36	20.89	22.14	23.44	24.95	25.93	26.91	27.39	27.13	26.32	26.89	26.36	27.53	29.35	28.75
Operating Margin (%)	16.27	16.75	17.8	19.94	21.39	22.47	23.68	24.27	24.11	22.92	24.05	23.79	25.08	26.82	26.28
Incremental Operating Margin (%)	-11.76	42.03	-5.95	106.59	1.95	97.42	46.71	42.73	27.62	33.88	31.63	21.19	142.86	-107.18	-32.88
Pretax Margin (%)	15.32	21.68	16.6	18.63	20.28	21.38	22.84	22.98	23.3	21.5	23.01	24.11	23.74	27.81	24.72
Profit Margin (%)	14.27	19.4	11.88	20.34	14.17	14.96	11.79	17.36	17.87	16.77	18.64	19.04	18.36	21.94	19.11
Net Income to Common Margin (%)	14.27	19.4	11.88	20.34	14.17	14.96	11.79	17.36	17.87	16.77	18.64	19.04	18.36	21.94	19.11
Effective Tax Rate (%)	20.15	30.35	30.55	29.97	30.16	30.02	48.41	24.48	23.33	22	19	21.03	22.65	21.12	22.69
Dvd Payout Ratio (%)	38.31	38.74	32.39	37.62	39.07	40.34	55.78	43.85	52.4	65.39	54.31	50.82	54.62	48.6	58.22
Sustainable Growth Rate (%)	13.18	17.09	11.2	22.25	19.21	25.62	16.88	36.71	38.22	23.52	36.17	44.45	44	56.67	39.17

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	3,990	5,048	6,344	7,419	7,422	7,829	8,328	7,380	7,937	8,310	7,881	7,949	8,370	8,078	9,211
ST Debt	502	459	3,551	1,476	526	652	850	1,351	55	405	839	1,645	1,883	1,612	2,348
LT Debt	3,488	4,589	2,793	5,943	6,896	7,177	7,478	6,029	7,882	7,905	7,042	6,304	6,487	6,466	6,863
Total Debt/EBITDA	1.35	1.63	2.03	2.19	2.22	2.22	2.16	1.82	2.07	2.51	2.03	1.89	1.89	1.73	2
Net Debt/EBITDA	0.95	0.73	0.87	1.01	1.3	1.52	1.36	1.45	1.51	1.68	1.58	1.68	1.6	1.48	1.76
Total Debt/EBIT	1.69	2.04	2.52	2.57	2.59	2.56	2.46	2.06	2.33	2.88	2.27	2.1	2.07	1.89	2.18
Net Debt/EBIT	1.19	0.92	1.08	1.19	1.51	1.75	1.54	1.64	1.7	1.93	1.77	1.86	1.76	1.62	1.93
EBITDA to Interest Expense	15.47	14.51	13.09	13.58	14.8	14.88	14.82	15.74	17.32	16.06	19.24	20.69	16.67	16.49	15.8
EBITDA-CapEx/Interest Expense	13.62	12.71	11.55	12.14	13.54	13.73	13.67	14.32	15.85	14.92	17.78	18.66	14.96	14.94	14.36
EBIT to Interest Expense	12.36	11.63	10.53	11.55	12.69	12.89	13.04	13.95	15.39	13.99	17.21	18.67	15.19	15.07	14.44
Interest Expense	191	213	239	250	226	237	260	257	221	206	202	203	266	283	292
Common Equity/Total Assets	55.7	54.69	48.6	39.04	33.21	27.99	27.32	21.88	20.08	20.38	22.55	20.02	19.41	22.01	19.97
Long-Term Debt/Equity (%)	34.76	43.42	28.77	87.09	131.91	168.51	162.95	185.05	260.13	248.43	194.21	204.08	215.3	194.94	212.74
Long-Term Debt/Capital (%)	24.87	29.38	17.4	41.73	54.51	59.37	57.89	56.67	71.87	68.79	61.2	57.11	56.99	56.74	55.18
Long-Term Debt/Total Assets (%)	19.4	23.77	13.99	34.03	43.84	47.21	44.56	40.54	52.31	50.63	43.8	40.88	41.8	42.91	42.5
Total Debt/Equity (%)	39.76	47.76	65.34	108.72	141.97	183.82	181.48	226.52	261.95	261.16	217.35	257.33	277.8	243.53	285.52
Total Debt/Capital (%)	28.45	32.32	39.52	52.09	58.67	64.77	64.47	69.37	72.37	72.31	68.49	72.01	73.53	70.89	74.06
Total Debt/Total Assets (%)	22.19	26.14	31.77	42.48	47.19	51.5	49.63	49.63	52.67	53.23	49.02	51.54	53.94	53.61	57.04
Net Debt to Equity	28.02	21.47	28.08	50.25	82.86	125.78	114.06	180.36	190.66	174.67	169.88	228.39	235.61	208.47	251.64
Net Debt/Capital (%)	21.89	17.67	21.92	33.44	45.31	55.71	53.28	64.33	64.29	62.25	61.72	68.3	68.8	66.19	70.07
EBITDA	2,955	3,090	3,129	3,395	3,344	3,526	3,852	4,045	3,828	3,309	3,887	4,200	4,435	4,666	4,613
EBITDA-CapEx	2,602	2,708	2,761	3,034	3,060	3,253	3,555	3,681	3,502	3,073	3,591	3,788	3,980	4,229	4,194
Operating Income (Loss)	2,361	2,477	2,516	2,888	2,867	3,056	3,390	3,584	3,402	2,882	3,477	3,790	4,040	4,264	4,216

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.4	1.05	0.6	1.13	1.3	0.9	1.01	0.42	0.92	0.99	0.44	0.16	0.23	0.22	0.17
Current Ratio	2.3	3	1.63	2.23	2.84	2.22	2.38	1.63	2.9	2.52	1.84	1.41	1.33	1.36	1.21
Quick Ratio	1.4	2.2	1.02	1.83	2.32	1.78	1.94	1.21	2.13	2	1.29	0.89	0.92	0.94	0.83
CFO/Avg Current Liab	0.64	0.74	0.58	0.34	0.78	0.9	0.83	0.85	1.05	1.18	0.84	0.59	0.77	0.73	0.66
Common Equity/Total Assets	55.7	54.69	48.6	39.04	33.21	27.99	27.32	21.88	20.08	20.38	22.55	20.02	19.41	22.01	19.97
Long-Term Debt/Equity (%)	34.76	43.42	28.77	87.09	131.91	168.51	162.95	185.05	260.13	248.43	194.21	204.08	215.3	194.94	212.74
Long-Term Debt/Capital (%)	24.87	29.38	17.4	41.73	54.51	59.37	57.89	56.67	71.87	68.79	61.2	57.11	56.99	56.74	55.18
Long-Term Debt/Total Assets (%)	19.4	23.77	13.99	34.03	43.84	47.21	44.56	40.54	52.31	50.63	43.8	40.88	41.8	42.91	42.5
Total Debt/Equity (%)	39.76	47.76	65.34	108.72	141.97	183.82	181.48	226.52	261.95	261.16	217.35	257.33	277.8	243.53	285.52
Total Debt/Capital (%)	28.45	32.32	39.52	52.09	58.67	64.77	64.47	69.37	72.37	72.31	68.49	72.01	73.53	70.89	74.06
Total Debt/Total Assets (%)	22.19	26.14	31.77	42.48	47.19	51.5	49.63	49.63	52.67	53.23	49.02	51.54	53.94	53.61	57.04
CFO/Total Liabilities	24.6	23.71	24.65	15.19	21.89	21.04	19.7	24.21	24.88	22.58	20.54	19.04	28.3	27.92	24.19
CFO/CapEx	5.54	5.42	6.87	4.48	8.1	8.43	8.09	7.72	9.19	11.89	8.64	5.7	7.78	7.51	7.46
Altman's Z-Score	5.82	6.14	5.78	6.89	7.45	8.32	8.28	8.59	9.2	8.95	9.98	10.08	10.72	11.31	10.32

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	10.3	5.32	5.54	6.22	5.96	5.96	5.74	5.63	5.55	5.06	5.41	5.3	5.12	5.2	5.16
Days Sales Outstanding	35.44	68.61	65.94	58.69	61.21	61.2	63.56	64.88	65.75	72.09	67.5	68.86	71.31	70.19	70.73
Inventory Turnover	5.57	5.53	6.04	7.15	6.96	7.32	7.24	6.78	6.6	6.27	5.89	5.03	4.95	5.35	5.5
Days Inventory Outstanding	65.53	65.95	60.42	51.07	52.43	49.89	50.45	53.83	55.33	58.23	61.98	72.54	73.68	68.24	66.42
Accounts Payable Turnover	12.76	13.11	12.54	15.02	16.22	16.45	15.35	15.62	16.13	14.71	16.08	16.61	15.27	15.92	17.34
Accounts Payable Turnover Days	28.61	27.83	29.1	24.3	22.5	22.18	23.78	23.36	22.63	24.81	22.71	21.98	23.91	22.93	21.06
Cash Conversion Cycle	72.36	106.74	97.26	85.46	91.13	88.91	90.23	95.35	98.45	105.51	106.77	119.42	121.08	115.49	116.09
Inventory to Cash Days	-30.08	2.66	5.52	7.62	8.78	11.3	13.11	11.04	10.42	13.86	5.52	-3.69	-2.36	1.95	4.31
Inventories	1,716	1,585	1,247	1,180	1,086	1,076	1,220	1,318	1,164	1,189	1,694	2,054	1,707	1,605	1,659
Raw Materials	596	539	482	458	415	407	465	523	452	454	716	887	742	635	640
Work In Process	156	152	150	133	130	126	141	161	131	136	208	228	234	193	191
Finished Goods	964	894	700	677	622	629	703	731	670	681	888	1,050	848	777	828
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	22,589	27,672	36,174	36,264	33,709	42,481	56,979	41,567	57,446	64,569	77,224	67,192	78,409	74,547	71,082
- Cash & Cash Equivalents	1,178	2,779	3,618	3,990	3,090	2,472	3,094	1,504	1,981	2,564	1,527	708	1,065	948	851
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	17	9	6	5	4	5	4	4	4	1	1	1	1	1	1
+ Total Debt	3,990	5,048	6,344	7,419	7,422	7,829	8,328	7,380	7,937	8,310	7,881	7,949	8,370	8,078	9,211
Enterprise Value	25,418	29,950	38,906	39,698	38,045	47,843	62,217	47,447	63,406	70,316	83,579	74,434	85,715	81,678	79,443
Total Capital	14,024	15,618	16,053	14,243	12,650	12,088	12,917	10,638	10,967	11,492	11,507	11,038	11,383	11,395	12,437
Total Debt/Capital (%)	28.45	32.32	39.52	52.09	58.67	64.77	64.47	69.37	72.37	72.31	68.49	72.01	73.53	70.89	74.06
Total Debt / EV	0.16	0.17	0.16	0.19	0.2	0.16	0.13	0.16	0.13	0.12	0.09	0.11	0.1	0.1	0.12
EV/Sales	1.75	2.02	2.75	2.74	2.84	3.52	4.35	3.21	4.49	5.59	5.78	4.67	5.32	5.14	4.95
EV/EBITDA	8.6	9.69	12.43	11.69	11.38	13.57	16.15	11.73	16.56	21.25	21.5	17.72	19.33	17.5	17.22
EV/EBIT	10.77	12.09	15.46	13.75	13.27	15.66	18.35	13.24	18.64	24.4	24.04	19.64	21.22	19.16	18.84
EV/Cash Flow to Firm	12.06	13.49	14.44	22.16	15.49	19.39	24.53	15.79	20.04	23.69	30.72	29.67	22.89	23.31	23.7
EV/Free Cash Flow to Firm	10.33	11.51	12.71	18.45	13.88	17.46	21.96	14.08	18.17	21.95	27.71	25.49	20.41	20.72	21.07
Diluted Market Cap	23,105	28,775	37,777	38,316	34,301	43,730	57,864	42,707	58,488	64,895	78,088	68,447	79,525	75,510	71,993
Diluted Enterprise Value	25,934	31,053	40,509	41,750	38,637	49,092	63,102	48,587	64,448	70,642	84,443	75,689	86,831	82,641	80,354
EV per Share	52.56	65.82	90.43	103.67	104.6	137.92	182.19	144.61	198.27	222.03	267.11	244.04	286.35	277.82	275.27
TTM Sales	14,515	14,791	14,135	14,484	13,405	13,599	14,314	14,768	14,109	12,574	14,455	15,932	16,107	15,898	16,044
TTM EBITDA	2,955	3,090	3,129	3,395	3,344	3,526	3,852	4,045	3,828	3,309	3,887	4,200	4,435	4,666	4,613
TTM Operating Income	2,361	2,477	2,516	2,888	2,867	3,056	3,390	3,584	3,402	2,882	3,477	3,790	4,040	4,264	4,216
TTM Cash Flow to Firm	2,109	2,220	2,694	1,791	2,457	2,468	2,536	3,005	3,164	2,968	2,721	2,508	3,745	3,504	3,352
TTM Free Cash Flow to Firm	2,462	2,602	3,062	2,152	2,741	2,741	2,833	3,369	3,490	3,204	3,017	2,920	4,200	3,941	3,771

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	10.01	11.73	13.04	19.38	13.28	16.98	21.44	13.45	17.61	21.33	27.37	24.8	19.91	20.31	20.31
EV/EBIT	10.77	12.09	15.46	13.75	13.27	15.66	18.35	13.24	18.64	24.4	24.04	19.64	21.22	19.16	18.84
Enterprise Value	25,418	29,950	38,906	39,698	38,045	47,843	62,217	47,447	63,406	70,316	83,579	74,434	85,715	81,678	79,443
Low Price	39.12	47.42	59.71	76.25	78.79	79.15	120.06	117.75	122.58	115.94	192.89	173.52	217.06	232.77	214.66
EV/Sales	1.75	2.02	2.75	2.74	2.84	3.52	4.35	3.21	4.49	5.59	5.78	4.67	5.32	5.14	4.95
EV/EBITDA	8.6	9.69	12.43	11.69	11.38	13.57	16.15	11.73	16.56	21.25	21.5	17.72	19.33	17.5	17.22
Price/Earnings	11.08	9.95	22.34	12.91	17.96	21.36	34.03	16.56	23.08	30.64	28.87	22.48	26.81	21.58	23.42
Price/Earnings Average	12.13	9.29	18.72	11.75	17.9	18.96	29.1	19.15	19.64	27.36	26.17	21.28	24.34	21.65	23.97
Price/Earnings High	14.06	10.37	22.41	13.33	19.4	22.33	34.61	23.41	23.43	33.76	29.02	25.49	27.12	23.75	26.44
Price/Earnings Low	9.28	7.76	15.87	10.4	15.26	13.81	24.49	15.39	15.75	17.42	22.56	17.71	22.21	19.81	20.41
Price/Book Value	2.26	2.62	3.73	5.32	6.45	9.99	12.43	12.77	18.98	20.3	21.3	21.76	26.03	22.48	22.04
Price/Book Value Average	2.47	2.45	3.12	4.84	6.43	8.86	10.63	14.77	16.15	18.13	19.32	20.59	23.64	22.56	22.56
Price/Book Value High	2.86	2.73	3.74	5.49	6.97	10.44	12.64	18.06	19.27	22.37	21.42	24.67	26.34	24.75	24.89
Price/Book Value Low	1.89	2.04	2.65	4.28	5.49	6.45	8.94	11.87	12.95	11.54	16.65	17.14	21.57	20.64	19.21
Price/Tangible Book Value	8.74	9.98	12.84	102.73	-43.5	-24.04	-39.6	-16.88	-24.79	-28.2	-33.4	-26.41	-30.7	-35.25	-28.85
Price/Tangible Book Value Average	9.56	9.32	10.76	93.48	-43.36	-21.34	-33.86	-19.52	-21.09	-25.18	-30.29	-25	-27.87	-35.38	-29.52
Price/Tangible Book Value High	11.08	10.39	12.87	106.08	-47	-25.13	-40.27	-23.85	-25.17	-31.07	-33.58	-29.95	-31.06	-38.8	-32.58
Price/Tangible Book Value Low	7.32	7.78	9.12	82.72	-36.98	-15.54	-28.49	-15.69	-16.92	-16.03	-26.11	-20.8	-25.44	-32.36	-25.14
Price/Sales	1.58	1.93	2.65	2.63	2.54	3.2	4.01	2.87	4.12	5.14	5.38	4.28	4.92	4.73	4.47
Price/Sales Average	1.73	1.8	2.22	2.39	2.54	2.84	3.43	3.32	3.51	4.59	4.88	4.05	4.47	4.75	4.58
Price/Sales High	2.01	2.01	2.66	2.71	2.75	3.34	4.08	4.06	4.19	5.66	5.41	4.85	4.98	5.21	5.05
Price/Sales Low	1.32	1.51	1.88	2.11	2.16	2.07	2.89	2.67	2.81	2.92	4.2	3.37	4.08	4.35	3.9
Price/Cash Flow	11.74	13.79	14.84	23.54	14.83	18.89	23.9	15.1	19.43	23.02	30.41	29.05	22.4	22.94	22.97
Price/Cash Flow Average	12.84	12.87	12.44	21.42	14.79	16.76	20.44	17.46	16.53	20.55	27.58	27.49	20.33	23.02	23.51
Price/Cash Flow High	14.89	14.36	14.88	24.31	16.03	19.74	24.31	21.34	19.72	25.37	30.57	32.94	22.66	25.25	25.94
Price/Cash Flow Low	9.83	10.75	10.54	18.95	12.61	12.21	17.2	14.03	13.26	13.09	23.77	22.88	18.56	21.06	20.02
Price/Free Cash Flow Average	10.95	10.95	10.93	17.63	13.24	15.07	18.33	15.56	14.98	19.04	24.82	23.47	18.08	20.38	20.78
Price/Free Cash Flow High	12.7	12.21	13.08	20.01	14.35	17.75	21.8	19.01	17.88	23.5	27.52	28.12	20.14	22.36	22.93
Price/Free Cash Flow Low	8.38	9.14	9.26	15.6	11.29	10.98	15.43	12.5	12.02	12.13	21.39	19.53	16.5	18.64	17.7
EV/Sales Average	1.9	1.9	2.34	2.52	2.83	3.17	3.77	3.65	3.89	5.04	5.28	4.45	4.87	5.15	5.06
EV/Sales High	2.17	2.1	2.76	2.82	3.04	3.66	4.41	4.38	4.56	6.12	5.81	5.24	5.38	5.61	5.52
EV/Sales Low	1.5	1.61	2.01	2.25	2.46	2.41	3.23	3.01	3.2	3.38	4.62	3.78	4.49	4.75	4.38
EV/EBITDA Average	9.32	9.1	10.56	10.73	11.35	12.21	14.01	13.34	14.32	19.16	19.65	16.86	17.7	17.56	17.58
EV/EBITDA High	10.66	10.06	12.47	12.04	12.19	14.11	16.4	15.98	16.79	23.24	21.61	19.87	19.53	19.12	19.21
EV/EBITDA Low	7.36	7.72	9.08	9.61	9.87	9.31	12	11	11.8	12.83	17.16	14.33	16.3	16.19	15.24
EV/EBIT Average	11.67	11.35	13.13	12.61	13.23	14.09	15.92	15.05	16.12	22	21.97	18.69	19.43	19.22	19.24
EV/EBIT High	13.34	12.55	15.5	14.16	14.22	16.28	18.64	18.03	18.89	26.69	24.16	22.01	21.44	20.92	21.02
EV/EBIT Low	9.21	9.63	11.3	11.3	11.51	10.74	13.64	12.42	13.27	14.73	19.19	15.87	17.89	17.72	16.68
Last Price	46.71	60.81	84.08	94.7	92.68	122.46	166.85	126.69	179.63	203.88	246.8	220.3	261.94	253.56	246.3
High Price	59.27	63.33	84.32	97.79	100.14	127.99	169.69	179.07	182.34	224.69	248.11	249.81	265	279.13	278.13
Enterprise Value Average	27,549	28,117	33,044	36,431	37,943	43,063	53,961	53,952	54,834	63,404	76,376	70,832	78,495	81,951	81,110
Enterprise Value High	31,492	31,096	39,009	40,881	40,758	49,762	63,187	64,633	64,272	76,906	83,989	83,434	86,631	89,195	88,629
Enterprise Value Low	21,748	23,857	28,421	32,633	32,993	32,819	46,238	44,514	45,161	42,465	66,710	60,166	72,280	75,565	70,312

Shares Outstanding	484	455	430	383	364	347	342	328	320	317	313	305	299	294	289
Diluted Weighted Avg Shares	495	473	449	405	370	357	347	337	326	318	316	311	304	298	292
Basic Weighted Avg Shares	491	470	446	402	368	355	344	335	324	317	315	310	303	297	292
Revenue per Share	29.54	31.48	31.68	36.06	36.44	38.31	41.6	44.08	43.56	39.68	45.87	51.46	53.23	53.56	55.04
EBITDA per Share	6.01	6.58	7.01	8.45	9.09	9.93	11.19	12.07	11.82	10.44	12.34	13.57	14.66	15.72	15.83
Operating Income per Share	4.8	5.27	5.64	7.19	7.79	8.61	9.85	10.7	10.5	9.09	11.03	12.24	13.35	14.37	14.46
Basic EPS, GAAP	4.21	6.11	3.76	7.33	5.16	5.73	4.9	7.65	7.78	6.66	8.55	9.8	9.77	11.75	10.52
Basic EPS from Cont Ops	3.61	4.75	3.65	4.71	5.16	5.73	4.9	7.65	7.78	6.66	8.55	9.8	9.77	11.75	10.52
Diluted EPS, GAAP	4.19	6.07	3.74	7.28	5.13	5.7	4.86	7.6	7.74	6.63	8.51	9.77	9.74	11.71	10.49
Diluted EPS from Cont Ops	3.59	4.72	3.63	4.67	5.13	5.7	4.86	7.6	7.74	6.63	8.51	9.77	9.74	11.71	10.49
Dividend per Share	1.38	1.84	1.18	1.77	2.02	2.31	2.73	3.36	4.08	4.35	4.64	4.98	5.34	5.71	6.12
Cash Flow per Share	3.98	4.41	5.67	4.02	6.25	6.48	6.98	8.39	9.25	8.86	8.11	7.58	11.7	11.05	10.72
Free Cash Flow per Basic Share	3.26	3.6	4.84	3.12	5.48	5.72	6.12	7.3	8.24	8.11	7.18	6.25	10.19	9.58	9.29
Cash & Equivalents per Share	2.44	6.11	8.41	10.42	8.5	7.13	9.06	4.58	6.19	8.1	4.88	2.32	3.56	3.22	2.95
Book Value per Share	20.71	23.21	22.55	17.81	14.36	12.26	13.43	9.92	9.46	10.04	11.59	10.12	10.06	11.28	11.17
Tangible Book Value per Share	5.35	6.09	6.55	0.92	-2.13	-5.09	-4.21	-7.51	-7.25	-7.23	-7.39	-8.34	-8.53	-7.19	-8.54

Illinois Tool Works Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)