ILLINOIS TOOL WORKS INC

ITW · Industrials · $79.8B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power72

Median gross margin 41.9% over 10y, very stable.

Returns on capital100

Median ROIC 30.3%, above the 9% hurdle in 100% of years.

Balance-sheet safety60

Net debt/EBITDA 1.9x, interest coverage 14x.

Capital discipline74

Owner earnings +4.6%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

98% above value

Owner earnings (normalized): $2.6B
Est. intrinsic value / share: $139.78
Recent price: $276.35
Discount to value: 98% above value

Conservative model: 9% discount rate, 3% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ITW. See the disclaimer.