ILLINOIS TOOL WORKS INC FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$16.0B
Gross margin	44.1%
Operating income	$4.2B
Net income	— not reported
Diluted EPS	$10.49
Cash & equivalents	$851.0M
Total assets	$16.1B
Long-term debt	$7.7B

Key takeaway

ITW operates 88 divisions across 49 countries organized into seven segments, employing about 43,000 people worldwide.

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Beneath the surface

Cash of $851 million versus total debt near $8.97 billion (DebtLongtermAndShorttermCombinedAmount) leaves ITW in a substantial net debt position of roughly $8.1 billion, more leveraged than the headline cash figure alone suggests.

🔒 3 more insights a headline reader would miss