Illinois Tool Works Inc - Company Profile
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Business Description
Illinois Tool Works Inc (ITW) is a global manufacturer of a diversified range of industrial products and equipment. It operates in 88 divisions in 49 countries. The company focuses on industries where it can leverage its business model to generate significant, long-term competitive advantages. ITW's portfolio spans various sectors, including automotive, food equipment, test and measurement, electronics, welding, polymers, fluids, construction products, and specialty products. The company serves markets with positive long-term macro fundamentals and customers with critical needs, offering differentiated products, services, and solutions.
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R&D Overview
ITW focuses on developing new products, improving and developing new methods, processes and equipment, and broadening the application of existing products. The company maintains a patent group responsible for the administration of patents and processing of patent applications, which plays a crucial role in managing the company's intellectual property and R&D activities. As of December 31, 2025, the company owns approximately 4,200 unexpired US patents and 10,400 unexpired foreign patents. Additionally, there are approximately 1,600 applications for patents pending in the US Patent Office and 5,600 applications pending in foreign patent offices. In FY2025, ITW spent US$302 million on R&D, which accounted for 1.9% of the company’s revenue and increased by 3.4% YoY. These expenses are recorded as incurred, reflecting the company's commitment to innovation and development in its various market segments.
Business Segments
- Automotive OEM
- Construction Products
- Food Equipment
- Polymers & Fluids
- Specialty Products
- Test & Measurement and Electronics
- Welding
Overview
Global, niche supplier to top-tier OEMs, providing components and fasteners for automotive-related applications. It primarily serves the automotive original equipment manufacturers and tiers market, producing plastic and metal components, fasteners, and assemblies for automobiles and light trucks.
Performance
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Overview
Supplier of innovative engineered fastening systems and solutions. It primarily serves the residential construction, renovation/remodel, and commercial construction markets. Products include fasteners, anchors, metal plate truss components, and packaged hardware.
Performance
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Overview
Manufactures and provides commercial food equipment, offering ware washing, cooking, refrigeration, food processing equipment, and kitchen exhaust systems. It serves the food service, food retail, and food institutional/restaurant markets.
Performance
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Overview
Supplier to niche markets, producing engineered adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. It primarily serves the automotive aftermarket, general industrial, and MRO markets.
Performance
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Overview
Focuses on niche market opportunities with substantial patent protection. It produces beverage packaging equipment, product coding and marking equipment, and appliance components. It serves industries such as food and beverage, consumer durables, general industrial, airlines, and printing and publishing.
Performance
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Overview
Producer of equipment, consumables, and related software for testing and measuring materials and structures. It serves industries such as electronics, general industrial, automotive OEMs, energy, industrial capital goods, and consumer durables.
Performance
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Overview
Branded value-added equipment and specialty consumable manufacturer, producing arc welding equipment, consumables, and accessories. It serves the general industrial market, including fabrication, shipbuilding, construction, energy, MRO, industrial capital goods, and automotive OEM markets.
Performance
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Geographical Segments
Performance
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Performance
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Performance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
Performance
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Performance
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