Illinois Tool Works Inc (ITW) — Working Capital to Net Assets Ratio
Illinois Tool Works Inc (ITW) has a Working Capital to Net Assets ratio of 33.3% as of December 2025. Working capital of $1.07 Billion (current assets of $6.20 Billion minus current liabilities of $5.13 Billion) is measured against net assets of $3.23 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how leveraged is Illinois Tool Works Inc's balance sheet to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Illinois Tool Works Inc Working Capital to Net Assets (1985–2025)
This chart shows how Illinois Tool Works Inc's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at 33.3%, reflecting working capital of $1.07 Billion against net assets of $3.23 Billion USD. Check tangible net worth ratio of Illinois Tool Works Inc to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Illinois Tool Works Inc (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Illinois Tool Works Inc from 1985 to 2025, covering 41 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see ITW stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 33.3% | $1.07 Billion | $3.23 Billion | $6.20 Billion | $5.13 Billion | ▼ -13.4 pp |
| 2024 | 46.7% | $1.55 Billion | $3.32 Billion | $5.86 Billion | $4.31 Billion | ▼ -5.1 pp |
| 2023 | 51.8% | $1.56 Billion | $3.01 Billion | $6.24 Billion | $4.67 Billion | ▼ -6.8 pp |
| 2022 | 58.6% | $1.81 Billion | $3.09 Billion | $6.27 Billion | $4.46 Billion | ▼ -21.5 pp |
| 2021 | 80.1% | $2.90 Billion | $3.63 Billion | $6.37 Billion | $3.47 Billion | ▼ -43.5 pp |
| 2020 | 123.6% | $3.93 Billion | $3.18 Billion | $6.52 Billion | $2.59 Billion | ▼ -11.6 pp |
| 2019 | 135.3% | $4.10 Billion | $3.03 Billion | $6.25 Billion | $2.15 Billion | ▲ +66.6 pp |
| 2018 | 68.6% | $2.24 Billion | $3.26 Billion | $5.78 Billion | $3.54 Billion | ▼ -23.4 pp |
| 2017 | 92.1% | $4.22 Billion | $4.59 Billion | $7.28 Billion | $3.05 Billion | ▲ +13.1 pp |
| 2016 | 79.0% | $3.36 Billion | $4.26 Billion | $6.12 Billion | $2.76 Billion | ▼ -4.3 pp |
| 2015 | 83.2% | $4.35 Billion | $5.23 Billion | $6.72 Billion | $2.37 Billion | ▲ +16.7 pp |
| 2014 | 66.6% | $4.54 Billion | $6.82 Billion | $8.08 Billion | $3.53 Billion | ▲ +27.6 pp |
| 2013 | 39.0% | $3.78 Billion | $9.71 Billion | $9.82 Billion | $6.03 Billion | ▼ -11.3 pp |
| 2012 | 50.2% | $5.31 Billion | $10.57 Billion | $7.96 Billion | $2.65 Billion | ▲ +11.6 pp |
| 2011 | 38.6% | $3.87 Billion | $10.03 Billion | $6.85 Billion | $2.98 Billion | ▲ +7.9 pp |
| 2010 | 30.6% | $2.87 Billion | $9.38 Billion | $5.97 Billion | $3.09 Billion | ▼ -1.6 pp |
| 2009 | 32.2% | $2.84 Billion | $8.82 Billion | $5.67 Billion | $2.84 Billion | ▲ +18.5 pp |
| 2008 | 13.7% | $1.05 Billion | $7.66 Billion | $5.92 Billion | $4.88 Billion | ▼ -20.6 pp |
| 2007 | 34.3% | $3.21 Billion | $9.35 Billion | $6.17 Billion | $2.96 Billion | ▲ +5.8 pp |
| 2006 | 28.5% | $2.57 Billion | $9.02 Billion | $5.21 Billion | $2.64 Billion | ▲ +0.5 pp |
| 2005 | 28.0% | $2.11 Billion | $7.55 Billion | $4.11 Billion | $2.00 Billion | ▼ -4.4 pp |
| 2004 | 32.4% | $2.47 Billion | $7.63 Billion | $4.32 Billion | $1.85 Billion | ▼ -9.4 pp |
| 2003 | 41.8% | $3.29 Billion | $7.87 Billion | $4.78 Billion | $1.49 Billion | ▲ +7.1 pp |
| 2002 | 34.8% | $2.31 Billion | $6.65 Billion | $3.88 Billion | $1.57 Billion | ▲ +7.5 pp |
| 2001 | 27.2% | $1.65 Billion | $6.04 Billion | $3.16 Billion | $1.52 Billion | ▼ -0.8 pp |
| 2000 | 28.0% | $1.51 Billion | $5.40 Billion | $3.33 Billion | $1.82 Billion | ▲ +2.5 pp |
| 1999 | 25.5% | $1.23 Billion | $4.82 Billion | $3.27 Billion | $2.05 Billion | ▲ +7.1 pp |
| 1998 | 18.3% | $612.50 Million | $3.34 Billion | $1.83 Billion | $1.22 Billion | ▼ -6.6 pp |
| 1997 | 25.0% | $700.70 Million | $2.81 Billion | $1.86 Billion | $1.16 Billion | ▲ +4.9 pp |
| 1996 | 20.1% | $481.80 Million | $2.40 Billion | $1.70 Billion | $1.22 Billion | ▼ -15.3 pp |
| 1995 | 35.4% | $681.60 Million | $1.92 Billion | $1.53 Billion | $850.90 Million | ▼ -5.7 pp |
| 1994 | 41.2% | $634.50 Million | $1.54 Billion | $1.26 Billion | $628.40 Million | ▼ -2.3 pp |
| 1993 | 43.5% | $547.50 Million | $1.26 Billion | $1.09 Billion | $546.10 Million | ▲ +6.8 pp |
| 1992 | 36.7% | $492.10 Million | $1.34 Billion | $1.00 Billion | $512.70 Million | ▲ +0.3 pp |
| 1991 | 36.5% | $442.00 Million | $1.21 Billion | $1.09 Billion | $646.00 Million | ▼ -19.9 pp |
| 1990 | 56.3% | $615.10 Million | $1.09 Billion | $1.14 Billion | $528.40 Million | ▲ +5.8 pp |
| 1989 | 50.6% | $440.40 Million | $871.10 Million | $824.20 Million | $383.80 Million | ▼ -2.1 pp |
| 1988 | 52.7% | $392.20 Million | $744.70 Million | $713.60 Million | $321.40 Million | ▼ -2.0 pp |
| 1987 | 54.6% | $332.40 Million | $608.50 Million | $674.20 Million | $341.80 Million | ▼ -7.0 pp |
| 1986 | 61.6% | $293.60 Million | $476.60 Million | $597.80 Million | $304.20 Million | ▲ +18.9 pp |
| 1985 | 42.7% | $172.20 Million | $403.40 Million | $262.20 Million | $90.00 Million | — |