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 (%)	18.65	22.27	11.61	18.34	10.7	10.76	8.49	12.37	11.56	9.26	11.35	12.1	11.17	12.45	10.38
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 (%)	15.31	17.33	9.15	13.6	8.17	8.29	6.52	9.65	9.13	7.35	8.98	9.68	9.13	10.24	8.62
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 (%)	11.51	13.64	7.85	11.44	6.52	6.42	3.76	6.95	5.5	3.21	5.19	5.95	5.07	6.4	4.34

Credit (USD)

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	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	65.61	72.39	74.87	98.36	116.49	128.35	120.48	142.72	148.72	148.09	151.34	167.33	174.82	191.8	186.75
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 (%)	22.07	24.11	13.11	24.16	26.78	26.25	26.19	21.08	25.97	25.15	21.86	18.68	18.27	17.49	17.43
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 (%)	25.24	26.52	29.79	30.15	28.83	28.63	29.17	25.8	26.15	26.44	24.47	23.55	23.58	21.85	23.4
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 (%)	19.22	13.96	15.42	16.64	19.12	21.54	20.56	21.68	20.36	19.25	20.07	21.35	20.62	19.19	21.08
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)

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	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	65.61	72.39	74.87	98.36	116.49	128.35	120.48	142.72	148.72	148.09	151.34	167.33	174.82	191.8	186.75
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 (%)	22.07	24.11	13.11	24.16	26.78	26.25	26.19	21.08	25.97	25.15	21.86	18.68	18.27	17.49	17.43
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 (%)	25.24	26.52	29.79	30.15	28.83	28.63	29.17	25.8	26.15	26.44	24.47	23.55	23.58	21.85	23.4
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	5.85	6.21	5.86	6.99	7.47	8.38	8.3	8.64	9.24	8.95	10.01	10.13	10.76	11.34	10.36

Working Capital (USD)

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	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)

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	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	22,955	28,569	37,516	38,041	34,097	43,473	57,413	42,441	58,182	64,610	77,767	68,205	79,263	75,257	71,796
- 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	25,784	30,847	40,248	41,475	38,433	48,835	62,651	48,321	64,142	70,357	84,122	75,447	86,569	82,388	80,157
Total Capital	15,806	19,035	21,299	24,603	25,748	27,345	28,548	28,607	30,350	31,431	32,213	33,755	35,499	36,978	39,368
Total Debt/Capital (%)	25.24	26.52	29.79	30.15	28.83	28.63	29.17	25.8	26.15	26.44	24.47	23.55	23.58	21.85	23.4
Total Debt / EV	0.15	0.16	0.16	0.18	0.19	0.16	0.13	0.15	0.12	0.12	0.09	0.11	0.1	0.1	0.11
EV/Sales	1.78	2.09	2.85	2.86	2.87	3.59	4.38	3.27	4.55	5.6	5.82	4.74	5.37	5.18	5
EV/EBITDA	8.73	9.98	12.86	12.22	11.49	13.85	16.26	11.95	16.76	21.26	21.64	17.96	19.52	17.66	17.38
EV/EBIT	10.92	12.45	16	14.36	13.41	15.98	18.48	13.48	18.85	24.41	24.19	19.91	21.43	19.32	19.01
EV/Cash Flow to Firm	12.23	13.89	14.94	23.16	15.64	19.79	24.7	16.08	20.27	23.71	30.92	30.08	23.12	23.51	23.92
EV/Free Cash Flow to Firm	10.47	11.85	13.14	19.27	14.02	17.82	22.11	14.34	18.38	21.96	27.89	25.84	20.61	20.9	21.26
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	52.47	65.66	90.2	103.25	104.47	137.56	182.07	144.24	198.03	222.02	266.97	243.69	286.08	277.59	274.98
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)

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	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	10.92	12.45	16	14.36	13.41	15.98	18.48	13.48	18.85	24.41	24.19	19.91	21.43	19.32	19.01
Enterprise Value	25,784	30,847	40,248	41,475	38,433	48,835	62,651	48,321	64,142	70,357	84,122	75,447	86,569	82,388	80,157
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	1.78	2.09	2.85	2.86	2.87	3.59	4.38	3.27	4.55	5.6	5.82	4.74	5.37	5.18	5
EV/EBITDA	8.73	9.98	12.86	12.22	11.49	13.85	16.26	11.95	16.76	21.26	21.64	17.96	19.52	17.66	17.38
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	1.95	2.04	2.51	2.21	1.86	2.23	2.84	2	2.6	2.79	3.2	2.64	2.92	2.6	2.38
Price/Book Value Average	2.13	1.91	2.1	2.01	1.86	1.98	2.43	2.31	2.21	2.5	2.9	2.5	2.65	2.61	2.44
Price/Book Value High	2.47	2.13	2.52	2.29	2.01	2.33	2.89	2.83	2.64	3.08	3.21	3	2.96	2.87	2.69
Price/Book Value Low	1.63	1.59	1.78	1.78	1.58	1.44	2.04	1.86	1.77	1.59	2.5	2.08	2.42	2.39	2.07
Price/Tangible Book Value	8.82	10.27	13.28	106.26	-44.22	-24.67	-40.01	-17.26	-25.15	-28.23	-33.65	-26.82	-31.05	-35.6	-29.15
Price/Tangible Book Value Average	9.65	9.59	11.13	96.69	-44.09	-21.9	-34.21	-19.96	-21.4	-25.2	-30.51	-25.38	-28.19	-35.73	-29.83
Price/Tangible Book Value High	11.19	10.69	13.32	109.73	-47.78	-25.79	-40.69	-24.4	-25.53	-31.11	-33.83	-30.41	-31.41	-39.19	-32.92
Price/Tangible Book Value Low	7.39	8.01	9.43	85.56	-37.6	-15.95	-28.79	-16.04	-17.17	-16.05	-26.3	-21.13	-25.73	-32.68	-25.41
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	1.93	1.96	2.42	2.63	2.86	3.23	3.8	3.72	3.93	5.05	5.32	4.51	4.92	5.2	5.1
EV/Sales High	2.2	2.17	2.86	2.95	3.07	3.74	4.45	4.46	4.61	6.12	5.85	5.31	5.43	5.66	5.57
EV/Sales Low	1.52	1.66	2.08	2.35	2.49	2.46	3.25	3.07	3.24	3.38	4.64	3.83	4.53	4.79	4.42
EV/EBITDA Average	9.46	9.37	10.92	11.21	11.46	12.46	14.1	13.59	14.49	19.17	19.78	17.09	17.87	17.72	17.74
EV/EBITDA High	10.81	10.37	12.9	12.58	12.31	14.41	16.52	16.28	16.99	23.26	21.75	20.14	19.73	19.28	19.39
EV/EBITDA Low	7.46	7.95	9.39	10.03	9.96	9.49	12.08	11.21	11.93	12.84	17.27	14.52	16.46	16.33	15.38
EV/EBIT Average	11.84	11.69	13.58	13.17	13.37	14.38	16.03	15.34	16.3	22.01	22.11	18.94	19.62	19.39	19.41
EV/EBIT High	13.54	12.93	16.04	14.79	14.36	16.62	18.77	18.38	19.11	26.7	24.31	22.32	21.66	21.1	21.21
EV/EBIT Low	9.34	9.91	11.68	11.79	11.62	10.95	13.73	12.65	13.42	14.74	19.31	16.09	18.07	17.87	16.83
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	27,949	28,955	34,169	38,048	38,330	43,943	54,332	54,963	55,460	63,441	76,868	71,791	79,271	82,663	81,841
Enterprise Value High	31,957	32,030	40,356	42,716	41,178	50,798	63,628	65,868	65,020	76,951	84,534	84,583	87,495	89,977	89,436
Enterprise Value Low	22,054	24,556	29,375	34,064	33,323	33,460	46,551	45,326	45,664	42,488	67,135	60,964	72,988	76,217	70,934

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	2.4	5.92	8.11	9.93	8.4	6.96	8.99	4.49	6.12	8.09	4.85	2.29	3.52	3.19	2.92
Book Value per Share	24.01	29.75	33.5	42.77	49.8	54.96	58.75	63.35	69.18	72.96	77.22	83.35	89.65	97.37	103.45
Tangible Book Value per Share	5.3	5.92	6.33	0.89	-2.1	-4.96	-4.17	-7.34	-7.14	-7.22	-7.33	-8.21	-8.44	-7.12	-8.45

Illinois Tool Works Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)