Illinois Tool Works Inc
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Illinois Tool Works Inc (ITW). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | Q2 2025 | Q2 2026 |
|---|---|---|
| Automotive OEM | $845.0M 20.8% | $857.0M 19.9% |
| Test & Measurement and Electronics | $686.0M 16.9% | $769.0M 17.9% |
| Food Equipment | $680.0M 16.8% | $692.0M 16.1% |
| Welding | $479.0M 11.8% | $549.0M 12.8% |
| Construction Products | $473.0M 11.7% | $494.0M 11.5% |
| Polymers & Fluids | $438.0M 10.8% | $476.0M 11.1% |
| Specialty Products | $455.0M 11.2% | $468.0M 10.9% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | Q2 2025 | Q2 2026 |
|---|---|---|
| Automotive OEM | $180.0M 21.3% | $185.0M 21.6% |
| Test & Measurement and Electronics | $157.0M 22.9% | $193.0M 25.1% |
| Food Equipment | $189.0M 27.8% | $188.0M 27.2% |
| Welding | $159.0M 33.2% | $178.0M 32.4% |
| Construction Products | $145.0M 30.7% | $151.0M 30.6% |
| Polymers & Fluids | $121.0M 27.6% | $140.0M 29.4% |
| Specialty Products | $148.0M 32.5% | $148.0M 31.6% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Operating metrics
Operating metrics are the figures a company uses to measure its own business — customer counts, stores, deliveries or the churn rate. None of them appear in the financial statements, and they often explain earlier than revenue does why revenue is moving.
| Metric | Q2 2025 | Q3 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|
| Number of employees | 44,000 | – | 43,000 | 43,000 -2.3% |
| Number of divisions | 86 | – | 88 | 88 +2.3% |
| Number of countries of operation | 51 | – | 49 | 49 -3.9% |
These metrics are not part of the financial statements; they sit in the narrative text of the filings. We read them out of the SEC filings using artificial intelligence and check every single figure against the original passage in the report; anything that is not found there verbatim is discarded. Source: SEC EDGAR (annual and quarterly reports, 10-K/10-Q).
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: September 23, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.