Illinois Tool Works (ITW) Debt/Equity Ratio: History & Chart

Illinois Tool Works Inc. (ITW)ITWIllinois Tool Works Inc.

About Illinois Tool Works Inc.

Illinois Tool Works Inc. is a global enterprise specializing in the production and distribution of a wide array of industrial goods and specialized equipment. The company operates through seven distinct divisions: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM division supplies plastic and metal components, various fastening solutions, and integrated assemblies for automobiles, light-duty trucks, and other industrial applications. Its Food Equipment segment delivers commercial kitchen appliances for washing, refrigeration, cooking, and food processing, alongside comprehensive kitchen exhaust, ventilation, and pollution control systems, and offers related maintenance and repair services. The Test & Measurement and Electronics unit manufactures and sells machinery, expendable supplies, and accompanying software designed for assessing materials and structural integrity, in addition to equipment and consumables critical for the creation of electronic subassemblies and microelectronic components. The Welding division focuses on arc welding apparatus, coupled with metal arc welding consumables and associated accessories. The Polymers & Fluids segment produces adhesives, sealing compounds, lubrication and cutting fluids, and various fluids and polymers intended for automotive aftermarket upkeep and cosmetic purposes. The Construction Products segment provides purpose-engineered fastening systems and comprehensive solutions for new housing, renovation projects, and commercial building industries. Lastly, the Specialty Products segment delivers machinery and supplies for beverage packaging, equipment and expendables for product identification and marking, and specialized components and fasteners for appliances. ITW's broad clientele encompasses sectors such as automotive original equipment manufacturers (OEMs) and their suppliers, the commercial food service industry, construction companies, general industrial enterprises, and the automotive aftermarket. The corporation distributes its offerings directly to industrial manufacturers and via an extensive network of independent distributors. Established in 1912, Illinois Tool Works Inc. is headquartered in Glenview, Illinois.

Glenview, IL

43,000 employees

www.itw.com

Industrials / Industrial - Machinery

Sector: Industrials
Industry: Industrial - Machinery
CEO: Christopher A. O'Herlihy

View full financials

ITW Debt to Equity Ratio Metrics

DEBT TO EQUITY RATIO

3.35

DEBT TO EQUITY RATIO AVG TTM

2.91

DEBT TO EQUITY RATIO AVG 3Y

2.75

DEBT TO EQUITY RATIO AVG 5Y

2.56

DEBT TO EQUITY RATIO AVG 10Y

2.42

DEBT TO EQUITY RATIO AVG 15Y

1.90

DEBT TO EQUITY RATIO AVG 20Y

1.50

CURRENT VS TTM AVG

+15.20%

CURRENT VS 3Y AVG

+21.87%

CURRENT VS 5Y AVG

+30.94%

CURRENT VS 10Y AVG

+38.39%

CURRENT VS 15Y AVG

+76.69%

CURRENT VS 20Y AVG

+123.02%

SECTOR MEDIAN · INDUSTRIALS

0.62

median of 131 covered companies

CURRENT VS SECTOR MEDIAN

+440.09%

vs the sector median at left

NAME	MARKET CAP	DEBT TO EQUITY RATIO	TTM	3Y	5Y
Illinois Tool Works Inc. (ITW)	$82.56B	3.35	2.91	2.75	2.56
Cintas Corporation (CTAS)vs ›	$81.89B	0.53	0.55	0.60	0.67
Emerson Electric Co. (EMR)vs ›	$83.91B	0.68	0.54	0.63	0.70
Canadian Pacific Kansas City Ltd. (CP)vs ›	$78.14B	0.51	0.49	0.51	0.67
Cummins Inc. (CMI)vs ›	$87.51B	0.66	0.70	0.79	0.71
Northrop Grumman Corporation (NOC)vs ›	$77.07B	1.18	1.25	1.20	1.30
Honeywell International Inc. (HON)vs ›	$77.03B	2.24	1.99	1.64	1.50
Canadian National Railway Company (CNI)vs ›	$76.95B	1.01	1.02	0.93	0.83
United Parcel Service, Inc. (UPS)vs ›	$88.54B	1.99	1.76	1.56	8.38
Norfolk Southern Corporation (NSC)vs ›	$75.35B	1.10	1.16	1.23	1.14

NAME

MARKET CAP

DEBT TO EQUITY RATIO

TTM

Illinois Tool Works Inc. (ITW)

$82.56B

3.35

2.91

2.75

2.56

Cintas Corporation (CTAS)vs ›

$81.89B

0.53

0.55

0.60

0.67

Emerson Electric Co. (EMR)vs ›

$83.91B

0.68

0.54

0.63

0.70

Canadian Pacific Kansas City Ltd. (CP)vs ›

$78.14B

0.51

0.49

0.51

0.67

Cummins Inc. (CMI)vs ›

$87.51B

0.66

0.70

0.79

0.71

Northrop Grumman Corporation (NOC)vs ›

$77.07B

1.18

1.25

1.20

1.30

Honeywell International Inc. (HON)vs ›

$77.03B

2.24

1.99

1.64

1.50

Canadian National Railway Company (CNI)vs ›

$76.95B

1.01

1.02

0.93

0.83

United Parcel Service, Inc. (UPS)vs ›

$88.54B

1.99

1.76

1.56

8.38

Norfolk Southern Corporation (NSC)vs ›

$75.35B

1.10

1.16

1.23

1.14

Debt to Equity Ratio FAQ

What is the debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The debt to equity ratio for ITW stock is 3.35.

Is Illinois Tool Works Inc.'s debt to equity ratio high or low?

The debt to equity ratio of 3.35 is 29% above its 5-year average of 2.60, near the high end of its 5-year range (2.16–3.35).

What is the TTM average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The TTM average debt to equity ratio for ITW stock is 2.91.

What is the 3Y average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The 3Y average debt to equity ratio for ITW stock is 2.75.

What is the 5Y average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The 5Y average debt to equity ratio for ITW stock is 2.56.

What is the 10Y average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The 10Y average debt to equity ratio for ITW stock is 2.42.

What is the 15Y average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The 15Y average debt to equity ratio for ITW stock is 1.90.

What is the 20Y average debt to equity ratio for Illinois Tool Works Inc. (ITW)?

The 20Y average debt to equity ratio for ITW stock is 1.50.

DATE	DEBT TO EQUITY RATIO
2026-06-30	3.35
2026-03-31	2.83
2025-12-31	2.78
2025-09-30	2.79
2025-06-30	2.78
2025-03-31	2.55
2024-12-31	2.44
2024-09-30	2.46
2024-06-30	2.86
2024-03-31	2.76
2023-12-31	2.78
2023-09-30	2.69
2023-06-30	2.66
2023-03-31	2.70
2022-12-31	2.57
2022-09-30	2.53
2022-06-30	2.26
2022-03-31	2.19
2021-12-31	2.17
2021-09-30	2.16
2021-06-30	2.17
2021-03-31	2.43
2020-12-31	2.61
2020-09-30	2.95
2020-06-30	3.30
2020-03-31	3.37
2019-12-31	2.62
2019-09-30	2.58
2019-06-30	2.53
2019-03-31	2.42
2018-12-31	2.27
2018-09-30	2.09
2018-06-30	1.96
2018-03-30	1.82
2017-12-31	1.82
2017-09-30	1.62
2017-06-30	1.69
2017-03-31	1.75
2016-12-31	1.84
2016-09-30	1.61
2016-06-30	1.45
2016-03-31	1.34
2015-12-31	1.42
2015-09-30	1.54
2015-06-30	1.47
2015-03-31	1.52
2014-12-31	1.09
2014-09-30	0.97
2014-06-30	0.85
2014-03-31	0.89
2013-12-31	0.65
2013-09-30	0.49
2013-06-30	0.50
2013-03-31	0.49
2012-12-31	0.48
2012-09-30	0.49
2012-06-30	0.49
2012-03-31	0.47
2011-12-31	0.40
2011-09-30	0.46
2011-06-30	0.39
2011-03-31	0.32
2010-12-31	0.30
2010-09-30	0.38
2010-06-30	0.35
2010-03-31	0.36
2009-12-31	0.36
2009-09-30	0.36
2009-06-30	0.38
2009-03-31	0.52
2008-12-31	0.48
2008-09-30	0.40
2008-06-30	0.31
2008-03-31	0.30
2007-12-31	0.25
2007-09-30	0.18
2007-06-30	0.16
2007-03-31	0.17
2006-12-31	0.16
2006-09-30	0.17
2006-06-30	0.12
2006-03-31	0.15
2005-12-31	0.16
2005-09-30	0.18
2005-06-30	0.22
2005-03-31	0.23
2004-12-31	0.15
2004-09-30	0.14
2004-06-30	0.12
2004-03-31	0.12
2003-12-31	0.12
2003-09-30	0.13
2003-06-30	0.21
2003-03-31	0.22
2002-12-31	0.24
2002-09-30	0.25

DATE

DEBT TO EQUITY RATIO

2026-06-30

3.35

2026-03-31

2.83

2025-12-31

2.78

2025-09-30

2.79

2025-06-30

2.78

2025-03-31

2.55

2024-12-31

2.44

2024-09-30

2.46

2024-06-30

2.86

2024-03-31

2.76

2023-12-31

2.78

2023-09-30

2.69

2023-06-30

2.66

2023-03-31

2.70

2022-12-31

2.57

2022-09-30

2.53

2022-06-30

2.26

2022-03-31

2.19

2021-12-31

2.17

2021-09-30

2.16

2021-06-30

2.17

2021-03-31

2.43

2020-12-31

2.61

2020-09-30

2.95

2020-06-30

3.30

2020-03-31

3.37

2019-12-31

2.62

2019-09-30

2.58

2019-06-30

2.53

2019-03-31

2.42

2018-12-31

2.27

2018-09-30

2.09

2018-06-30

1.96

2018-03-30

1.82

2017-12-31

1.82

2017-09-30

1.62

2017-06-30

1.69

2017-03-31

1.75

2016-12-31

1.84

2016-09-30

1.61

2016-06-30

1.45

2016-03-31

1.34

2015-12-31

1.42

2015-09-30

1.54

2015-06-30

1.47

2015-03-31

1.52

2014-12-31

1.09

2014-09-30

0.97

2014-06-30

0.85

2014-03-31

0.89

2013-12-31

0.65

2013-09-30

0.49

2013-06-30

0.50

2013-03-31

0.49

2012-12-31

0.48

2012-09-30

0.49

2012-06-30

0.49

2012-03-31

0.47

2011-12-31

0.40

2011-09-30

0.46

2011-06-30

0.39

2011-03-31

0.32

2010-12-31

0.30

2010-09-30

0.38

2010-06-30

0.35

2010-03-31

0.36

2009-12-31

0.36

2009-09-30

0.36

2009-06-30

0.38

2009-03-31

0.52

2008-12-31

0.48

2008-09-30

0.40

2008-06-30

0.31

2008-03-31

0.30

2007-12-31

0.25

2007-09-30

0.18

2007-06-30

0.16

2007-03-31

0.17

2006-12-31

0.16

2006-09-30

0.17

2006-06-30

0.12

2006-03-31

0.15

2005-12-31

0.16

2005-09-30

0.18

2005-06-30

0.22

2005-03-31

0.23

2004-12-31

0.15

2004-09-30

0.14

2004-06-30

0.12

2004-03-31

0.12

2003-12-31

0.12

2003-09-30

0.13

2003-06-30

0.21

2003-03-31

0.22

2002-12-31

0.24

2002-09-30

0.25

Debt to Equity Ratio: 3.35

ITW Debt to Equity Ratio

ITW Average Debt to Equity Ratio Chart

ITW Current vs Average Debt to Equity Ratio Chart

ITW Debt to Equity Ratio Metrics

ITW Competitors' Debt to Equity Ratio

Financial Health

Debt to Equity Ratio Formula & Definition

Debt to Equity Ratio FAQ

ITW Debt to Equity Ratio History

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