Illinois Tool Works
Illinois Tool Works returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
The reported inputs required for this metric are unavailable in the extracted statements for this period.
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 29.28% | 38.52% | — | — | 19.63% | 21.6 pp |
| FY 2026 Q1 | Mar 31, 2026 | — | 37.89% | — | — | 19.75% | — |
| FY 2025 Q4 | Dec 31, 2025 | 30.21% | 38.71% | -9.36% | — | 19.64% | 22.5 pp |
| FY 2025 Q3 | Sep 30, 2025 | — | 35.88% | — | — | 18.94% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | 35.84% | — | — | 21.28% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | 36.34% | — | — | 21.65% | — |
| FY 2024 Q4 | Dec 31, 2024 | 33.07% | 39.48% | 198.77% | — | 22.81% | 25.4 pp |
| FY 2024 Q3 | Sep 30, 2024 | — | 37.34% | — | — | 22.13% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 37.87% | — | — | 19.64% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 39.7% | — | — | 19.4% | — |
| FY 2023 Q4 | Dec 31, 2023 | 30.85% | 37.06% | — | — | 19.11% | 23.2 pp |
| FY 2023 Q3 | Sep 30, 2023 | — | 36.3% | — | — | 20.55% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | 34.38% | — | — | 19.81% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | 33.99% | — | — | 19.16% | — |
| FY 2022 Q4 | Dec 31, 2022 | 30.03% | 32.16% | 49.34% | — | 19.26% | 22.3 pp |
| FY 2022 Q3 | Sep 30, 2022 | — | 31.15% | — | — | 17.8% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | 29.18% | — | — | 16.95% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 27.29% | — | — | 16.81% | — |
| FY 2021 Q4 | Dec 31, 2021 | 30.4% | 27.13% | 54.35% | — | 17% | 22.7 pp |
| FY 2021 Q3 | Sep 30, 2021 | 31.02% | 28.3% | 82.51% | — | 17.91% | 23.3 pp |
| FY 2021 Q2 | Jun 30, 2021 | 31.24% | 27.94% | 40.52% | — | 17.89% | 23.5 pp |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | — | — | — |
| FY 2020 Q4 | Dec 31, 2020 | 25.62% | 22.22% | — | — | 13.75% | 17.9 pp |
| FY 2020 Q3 | Sep 30, 2020 | 24.92% | 22.46% | -1,098.13% | — | 14.1% | 17.2 pp |
| FY 2020 Q2 | Jun 30, 2020 | 25.7% | 23.01% | — | — | 14.85% | 18 pp |
| FY 2019 Q4 | Dec 31, 2019 | 29.08% | 28.07% | — | — | 16.84% | 21.4 pp |
| FY 2019 Q3 | Sep 30, 2019 | 28.79% | 28.19% | — | — | 16.43% | 21.1 pp |
| FY 2019 Q2 | Jun 30, 2019 | 27.76% | 27.7% | — | — | 16.05% | 20.1 pp |
| FY 2019 Q1 | Mar 31, 2019 | 27.87% | 28.61% | — | — | 15.93% | 20.2 pp |
| FY 2018 Q4 | Dec 31, 2018 | 28.55% | 28.61% | — | — | 16.2% | 20.9 pp |
| FY 2018 Q3 | Sep 30, 2018 | 20.19% | 28.47% | — | — | 11.89% | 12.5 pp |
| FY 2018 Q2 | Jun 30, 2018 | 20.01% | 29.08% | — | — | 11.97% | 12.3 pp |
| FY 2018 Q1 | Mar 31, 2018 | 19.56% | 27.72% | — | — | 11.38% | 11.9 pp |
| FY 2017 Q4 | Dec 31, 2017 | 18.55% | 26.7% | -165.03% | — | 10.55% | 10.8 pp |
| FY 2017 Q3 | Sep 30, 2017 | 23.4% | 26.38% | 141.34% | — | 14.18% | 15.7 pp |
| FY 2017 Q2 | Jun 30, 2017 | 22.83% | 25.36% | 35.73% | — | 13.9% | 15.1 pp |
| FY 2017 Q1 | Mar 31, 2017 | 22.58% | 24.84% | 231.1% | — | 13.58% | 14.9 pp |
| FY 2016 Q4 | Dec 31, 2016 | 22.36% | 23.75% | 253.22% | — | 13.16% | 14.7 pp |
| FY 2016 Q3 | Sep 30, 2016 | 21.02% | 23.44% | 40.93% | — | 12.44% | 13.3 pp |
| FY 2016 Q2 | Jun 30, 2016 | 20.78% | 22.72% | — | — | 12.38% | 13.1 pp |
| FY 2016 Q1 | Mar 31, 2016 | 20.65% | 23.22% | — | — | 12.17% | 12.9 pp |
| FY 2015 Q4 | Dec 31, 2015 | 20.17% | 20.85% | — | — | 11.37% | 12.5 pp |
| FY 2015 Q3 | Sep 30, 2015 | 19.62% | 20.14% | — | — | 10.81% | 11.9 pp |
| FY 2015 Q2 | Jun 30, 2015 | 19.46% | 19.48% | — | — | 10.58% | 11.8 pp |
| FY 2015 Q1 | Mar 31, 2015 | 18.09% | 21.61% | — | — | 16.24% | 10.4 pp |
| FY 2014 Q4 | Dec 31, 2014 | 17.8% | 20.57% | — | — | 15.65% | 10.1 pp |
| FY 2014 Q3 | Sep 30, 2014 | 17.21% | 18.28% | — | — | 14.98% | 9.5 pp |
| FY 2014 Q2 | Jun 30, 2014 | 16.47% | 17.37% | — | — | 14.44% | 8.8 pp |
| FY 2014 Q1 | Mar 31, 2014 | 14.62% | 17.14% | -351.51% | — | 9.13% | 6.9 pp |
| FY 2013 Q4 | Dec 31, 2013 | 13.82% | 16.44% | — | — | 8.55% | 6.1 pp |
| FY 2013 Q3 | Sep 30, 2013 | 13.96% | 16.61% | — | — | 11.61% | 6.3 pp |
| FY 2013 Q2 | Jun 30, 2013 | 14.64% | 17.94% | — | — | 12.18% | 6.9 pp |
| FY 2013 Q1 | Mar 31, 2013 | 14.8% | 17.75% | — | — | 14.35% | 7.1 pp |
| FY 2012 Q4 | Dec 31, 2012 | 15.35% | 17.98% | — | — | 15.39% | 7.7 pp |
| FY 2012 Q3 | Sep 30, 2012 | 15.66% | 18.72% | -31.41% | — | 12.48% | 8 pp |
| FY 2012 Q2 | Jun 30, 2012 | 15.23% | 19.26% | -0% | — | 12.37% | 7.5 pp |
| FY 2012 Q1 | Mar 31, 2012 | 15.12% | 18.79% | 1.68% | — | 10.57% | 7.4 pp |
| FY 2011 Q4 | Dec 31, 2011 | 17.8% | 19.39% | 27.25% | — | 12.1% | 10.1 pp |
| FY 2011 Q3 | Sep 30, 2011 | 17.65% | 19.33% | 14.31% | — | 11.67% | 10 pp |
| FY 2011 Q2 | Jun 30, 2011 | 17.04% | 19.11% | 14.27% | — | 11.31% | 9.3 pp |
| FY 2011 Q1 | Mar 31, 2011 | 17.03% | 18.64% | 25.46% | — | 11.08% | 9.3 pp |
| FY 2010 Q4 | Dec 31, 2010 | 15.03% | 17.85% | 132.23% | — | 9.45% | 7.3 pp |
| FY 2010 Q3 | Sep 30, 2010 | 16.68% | 17.67% | — | — | 10.53% | 9 pp |
| FY 2010 Q2 | Jun 30, 2010 | 15.64% | 16.65% | — | — | 10.03% | 7.9 pp |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · ITW, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.