Illinois Tool Works Inc (ITW)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 7,040,000 | 6,791,000 | 6,503,000 | 5,966,000 | 5,199,000 |
| Revenue | US$ in thousands | 15,898,000 | 16,107,000 | 15,932,000 | 14,455,000 | 12,574,000 |
| Gross profit margin | 44.28% | 42.16% | 40.82% | 41.27% | 41.35% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $7,040,000K ÷ $15,898,000K
= 44.28%
The gross profit margin of Illinois Tool Works Inc has shown varying trends over the past five years, as per the data provided.
In 2020, the gross profit margin stood at 41.35%, declining slightly to 41.27% by the end of 2021. The trend continued in 2022, with the margin decreasing further to 40.82%. However, there was a notable improvement in 2023, as the gross profit margin increased to 42.16%, indicating potentially better cost management or pricing strategies.
The most significant improvement was observed in 2024, with the gross profit margin reaching 44.28%. This substantial increase suggests enhanced efficiency in generating revenue from the company's core business activities.
Overall, while the gross profit margin experienced fluctuations in the past five years, the upward trend in more recent years signals potential operational improvements and enhanced profitability for Illinois Tool Works Inc.
Peer comparison
Dec 31, 2024