Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 43.82% is in line with its 5-year average of 41.97%, near the high end of its 5-year range (39.27%–45.38%).
As of the fiscal period ended Tuesday, March 31, 2026. 0.24% below its 12-month average of 43.93%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
43.82%
GROSS MARGIN AVG TTM
43.93%
GROSS MARGIN AVG 3Y
43.08%
GROSS MARGIN AVG 5Y
41.97%
GROSS MARGIN AVG 10Y
41.31%
GROSS MARGIN AVG 15Y
40.92%
GROSS MARGIN AVG 20Y
39.00%
CURRENT VS TTM AVG
-0.24%
CURRENT VS 3Y AVG
+1.72%
CURRENT VS 5Y AVG
+4.41%
CURRENT VS 10Y AVG
+6.09%
CURRENT VS 15Y AVG
+7.11%
CURRENT VS 20Y AVG
+12.38%
SECTOR MEDIAN · INDUSTRIALS
32.52%
median of 133 covered companies
CURRENT VS SECTOR MEDIAN
+34.76%
vs the sector median at left
Illinois Tool Works Inc.
Market Cap
$81.42B
Gross Margin
43.82%
TTM Avg
43.93%
3Y Avg
43.08%
5Y Avg
41.97%
Market Cap
$81.99B
Gross Margin
46.67%
TTM Avg
52.01%
3Y Avg
51.86%
5Y Avg
53.71%
Market Cap
$82.39B
Gross Margin
50.67%
TTM Avg
50.29%
3Y Avg
49.19%
5Y Avg
48.26%
Market Cap
$82.86B
Gross Margin
52.66%
TTM Avg
51.81%
3Y Avg
49.57%
5Y Avg
47.39%
Market Cap
$78.76B
Gross Margin
42.43%
TTM Avg
36.74%
3Y Avg
33.43%
5Y Avg
34.60%
Market Cap
$78.54B
Gross Margin
44.21%
TTM Avg
42.87%
3Y Avg
42.87%
5Y Avg
42.52%
Market Cap
$85.70B
Gross Margin
17.79%
TTM Avg
18.42%
3Y Avg
19.11%
5Y Avg
20.03%
Market Cap
$77.06B
Gross Margin
36.57%
TTM Avg
37.70%
3Y Avg
37.47%
5Y Avg
36.30%
Market Cap
$77.03B
Gross Margin
20.06%
TTM Avg
20.09%
3Y Avg
19.32%
5Y Avg
19.66%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Illinois Tool Works Inc. (ITW) | $81.42B | 43.82% | 43.93% | 43.08% | 41.97% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $81.99B | 46.67% | 52.01% | 51.86% | 53.71% |
| Cintas Corporation (CTAS)vs › | $82.39B | 50.67% | 50.29% | 49.19% | 48.26% |
| Emerson Electric Co. (EMR)vs › | $82.86B | 52.66% | 51.81% | 49.57% | 47.39% |
| Norfolk Southern Corporation (NSC)vs › | $78.76B | 42.43% | 36.74% | 33.43% | 34.60% |
| Canadian National Railway Company (CNI)vs › | $78.54B | 44.21% | 42.87% | 42.87% | 42.52% |
| United Parcel Service, Inc. (UPS)vs › | $85.70B | 17.79% | 18.42% | 19.11% | 20.03% |
| Honeywell International Inc. (HON)vs › | $77.06B | 36.57% | 37.70% | 37.47% | 36.30% |
| Northrop Grumman Corporation (NOC)vs › | $77.03B | 20.06% | 20.09% | 19.32% | 19.66% |
| Johnson Controls International plc (JCI)vs › | $87.47B | 36.56% | 35.81% | 35.26% | 34.71% |
Gross Margin
43.8%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-03-31 | 43.82% |
| 2025-12-31 | 44.20% |
| 2025-09-30 | 44.49% |
| 2025-06-30 | 43.97% |
| 2025-03-31 | 43.16% |
| 2024-12-31 | 42.88% |
| 2024-09-30 | 43.12% |
| 2024-06-30 | 43.21% |
| 2024-03-31 | 45.38% |
| 2023-12-31 | 41.33% |
| 2023-09-30 | 41.80% |
| 2023-06-30 | 41.73% |
| 2023-03-31 | 40.98% |
| 2022-12-31 | 41.05% |
| 2022-09-30 | 40.06% |
| 2022-06-30 | 39.52% |
| 2022-03-31 | 39.27% |
| 2021-12-31 | 39.55% |
| 2021-09-30 | 40.10% |
| 2021-06-30 | 40.29% |
| 2021-03-31 | 41.51% |
| 2020-12-31 | 41.44% |
| 2020-09-30 | 40.79% |
| 2020-06-30 | 36.47% |
| 2020-03-31 | 40.92% |
| 2019-12-31 | 40.65% |
| 2019-09-30 | 41.22% |
| 2019-06-30 | 40.70% |
| 2019-03-31 | 40.82% |
| 2018-12-31 | 40.17% |
| 2018-09-30 | 40.69% |
| 2018-06-30 | 40.51% |
| 2018-03-30 | 40.46% |
| 2017-12-31 | 40.09% |
| 2017-09-30 | 40.66% |
| 2017-06-30 | 40.57% |
| 2017-03-31 | 40.74% |
| 2016-12-31 | 39.39% |
| 2016-09-30 | 40.40% |
| 2016-06-30 | 42.67% |
| 2016-03-31 | 42.09% |
| 2015-12-31 | 40.73% |
| 2015-09-30 | 41.77% |
| 2015-06-30 | 41.06% |
| 2015-03-31 | 41.05% |
| 2014-12-31 | 39.67% |
| 2014-09-30 | 40.90% |
| 2014-06-30 | 40.33% |
| 2014-03-31 | 39.53% |
| 2013-12-31 | 38.86% |
| 2013-09-30 | 39.80% |
| 2013-06-30 | 37.92% |
| 2013-03-31 | 37.59% |
| 2012-12-31 | 35.44% |
| 2012-09-30 | 36.57% |
| 2012-06-30 | 36.33% |
| 2012-03-31 | 35.98% |
| 2011-12-31 | 35.21% |
| 2011-09-30 | 35.35% |
| 2011-06-30 | 35.08% |
| 2011-03-31 | 35.58% |
| 2010-12-31 | 34.31% |
| 2010-09-30 | 35.67% |
| 2010-06-30 | 36.32% |
| 2010-03-31 | 35.65% |
| 2009-12-31 | 35.37% |
| 2009-09-30 | 35.34% |
| 2009-06-30 | 33.74% |
| 2009-03-31 | 31.94% |
| 2008-12-31 | 34.42% |
| 2008-09-30 | 34.92% |
| 2008-06-30 | 35.53% |
| 2008-03-31 | 34.82% |
| 2007-12-31 | 35.36% |
| 2007-09-30 | 35.45% |
| 2007-06-30 | 35.68% |
| 2007-03-31 | 34.85% |
| 2006-12-31 | 34.83% |
| 2006-09-30 | 35.21% |
| 2006-06-30 | 35.95% |
| 2006-03-31 | 35.71% |
| 2005-12-31 | 36.14% |
| 2005-09-30 | 36.11% |
| 2005-06-30 | 34.56% |
| 2005-03-31 | 34.22% |
| 2004-12-31 | 35.24% |
| 2004-09-30 | 34.79% |
| 2004-06-30 | 35.72% |
| 2004-03-31 | 35.42% |
| 2003-12-31 | 34.48% |
| 2003-09-30 | 35.46% |
| 2003-06-30 | 35.28% |
| 2003-03-31 | 34.58% |
| 2002-12-31 | 34.04% |
| 2002-09-30 | 34.96% |
| 2002-06-30 | 35.27% |
