ITW's free cash flow for Q3 2025 was $0.44. For the 2025 fiscal year, ITW's free cash flow was decreased by $ and operating cash flow was $0.28. See a summary of the company’s cash flow.

Ratios	TTM	Dec 24	Dec 23	Dec 22	Dec 21
Liquidity Ratios
Current Ratio	1.53	1.33	1.41	1.84	2.52
Quick Ratio	1.11	0.97	0.95	1.35	2.06
Cash Ratio	0.22	0.23	0.16	0.44	0.99
Solvency Ratio	0.26	0.27	0.28	0.25	0.20
Operating Cash Flow Ratio	0.79	0.76	0.53	0.74	1.08
Short-Term Operating Cash Flow Coverage	2.59	1.94	1.48	3.29	8.02
Net Current Asset Value	$ -6.61B	$ -6.27B	$ -6.06B	$ -6.08B	$ -5.91B
Leverage Ratios
Debt-to-Assets Ratio	0.55	0.54	0.50	0.48	0.52
Debt-to-Equity Ratio	2.79	2.78	2.51	2.12	2.55
Debt-to-Capital Ratio	0.74	0.74	0.72	0.68	0.72
Long-Term Debt-to-Capital Ratio	0.71	0.68	0.67	0.66	0.71
Financial Leverage Ratio	5.03	5.15	4.99	4.44	4.91
Debt Service Coverage Ratio	2.39	1.73	1.91	3.34	4.90
Interest Coverage Ratio	14.60	15.19	18.67	17.21	13.99
Debt to Market Cap	0.13	0.10	0.11	0.10	0.13
Interest Debt Per Share	31.73	28.54	25.73	25.04	26.28
Net Debt to EBITDA	1.74	1.63	1.66	1.58	1.67
Profitability Margins
Gross Profit Margin	43.64%	42.16%	40.82%	41.27%	41.35%
EBIT Margin	26.51%	25.39%	24.05%	24.21%	23.02%
EBITDA Margin	29.00%	27.84%	26.62%	27.05%	26.42%
Operating Profit Margin	26.20%	25.08%	23.79%	24.05%	22.92%
Pretax Profit Margin	24.71%	23.74%	24.11%	23.01%	21.50%
Net Profit Margin	19.05%	18.36%	19.04%	18.64%	16.77%
Continuous Operations Profit Margin	19.05%	18.36%	19.04%	18.64%	16.77%
Net Income Per EBT	77.10%	77.35%	78.97%	81.00%	78.00%
EBT Per EBIT	94.31%	94.63%	101.37%	95.66%	93.82%
Return on Assets (ROA)	18.75%	19.06%	19.67%	16.76%	13.51%
Return on Equity (ROE)	93.28%	98.17%	98.25%	74.32%	66.30%
Return on Capital Employed (ROCE)	34.67%	37.26%	34.57%	27.58%	22.13%
Return on Invested Capital (ROIC)	24.18%	24.55%	23.74%	20.95%	16.74%
Return on Tangible Assets	28.64%	29.71%	30.99%	26.57%	20.80%
Earnings Yield	4.26%	3.73%	4.45%	3.46%	3.26%
Efficiency Ratios
Receivables Turnover	4.88	4.95	0.00	0.00	0.00
Payables Turnover	14.72	16.03	15.87	14.51	13.81
Inventory Turnover	5.19	5.46	4.59	5.01	6.20
Fixed Asset Turnover	7.21	7.24	8.62	7.99	7.08
Asset Turnover	0.98	1.04	1.03	0.90	0.81
Working Capital Turnover Ratio	7.07	9.56	6.76	4.23	3.13
Cash Conversion Cycle	120.35	117.79	56.52	47.68	32.42
Days of Sales Outstanding	74.80	73.67	0.00	0.00	0.00
Days of Inventory Outstanding	70.33	66.88	79.51	72.84	58.85
Days of Payables Outstanding	24.79	22.76	22.99	25.15	26.43
Operating Cycle	145.14	140.55	79.51	72.84	58.85
Cash Flow Ratios
Operating Cash Flow Per Share	11.27	11.70	7.58	8.11	8.86
Free Cash Flow Per Share	9.78	10.19	6.25	7.18	8.11
CapEx Per Share	1.49	1.50	1.33	0.94	0.74
Free Cash Flow to Operating Cash Flow	0.87	0.87	0.82	0.88	0.92
Dividend Paid and CapEx Coverage Ratio	1.49	1.71	1.20	1.45	1.74
Capital Expenditure Coverage Ratio	7.59	7.78	5.70	8.64	11.89
Operating Cash Flow Coverage Ratio	0.37	0.42	0.30	0.33	0.35
Operating Cash Flow to Sales Ratio	0.21	0.22	0.15	0.18	0.22
Free Cash Flow Yield	3.98%	3.89%	2.84%	2.91%	3.98%
Valuation Ratios
Price-to-Earnings (P/E) Ratio	23.47	26.81	22.48	28.87	30.64
Price-to-Sales (P/S) Ratio	4.50	4.92	4.28	5.38	5.14
Price-to-Book (P/B) Ratio	22.14	26.32	22.09	21.45	20.31
Price-to-Free Cash Flow (P/FCF) Ratio	25.14	25.70	35.23	34.39	25.13
Price-to-Operating Cash Flow Ratio	21.68	22.40	29.05	30.41	23.02
Price-to-Earnings Growth (PEG) Ratio	-2.44	-87.56	1.54	1.02	-2.13
Price-to-Fair Value	22.14	26.32	22.09	21.45	20.31
Enterprise Value Multiple	17.27	19.31	17.75	21.46	21.12
Enterprise Value	79.53B	86.57B	75.26B	83.93B	70.17B
EV to EBITDA	17.27	19.31	17.75	21.46	21.12
EV to Sales	5.01	5.37	4.72	5.81	5.58
EV to Free Cash Flow	27.95	28.07	38.87	37.12	27.29
EV to Operating Cash Flow	24.27	24.46	32.05	32.82	25.00
Tangible Book Value Per Share	-8.11	-8.44	-8.21	-7.33	-7.22
Shareholders’ Equity Per Share	11.04	9.95	9.97	11.50	10.04
Tax and Other Ratios
Effective Tax Rate	0.23	0.23	0.21	0.19	0.22
Revenue Per Share	54.62	53.23	51.46	45.87	39.68
Net Income Per Share	10.41	9.77	9.80	8.55	6.66
Tax Burden	0.77	0.77	0.79	0.81	0.78
Interest Burden	0.93	0.93	1.00	0.95	0.93
Research & Development to Revenue	0.09	0.02	0.16	0.16	0.17
SG&A to Revenue	0.00	0.00	0.00	0.00	0.00
Stock-Based Compensation to Revenue	<0.01	<0.01	<0.01	<0.01	<0.01
Income Quality	1.08	1.20	0.77	0.95	1.33

Currency in USD

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