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Illinois Tool Works Inc. (ITW)


Long-term Debt and Solvency Analysis
Quarterly Data

Difficulty: Beginner

Solvency ratios also known as long-term debt ratios measure a company’s ability to meet long-term obligations.


Ratios (Summary)

Illinois Tool Works Inc., debt and solvency ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Debt Ratios
Debt to equity hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Debt to capital hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Debt to assets hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Financial leverage hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Coverage Ratios
Interest coverage hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

Ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Illinois Tool Works Inc.’s debt to equity ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Illinois Tool Works Inc.’s debt to capital ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Illinois Tool Works Inc.’s debt to assets ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Illinois Tool Works Inc.’s financial leverage ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Illinois Tool Works Inc.’s interest coverage ratio deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 exceeding Q4 2018 level.

Debt to Equity

Illinois Tool Works Inc., debt to equity calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Short-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Long-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Total debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
 
Stockholders’ equity attributable to ITW hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Ratio
Debt to equity1 hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benchmarks
Debt to Equity, Competitors2
Caterpillar Inc. hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

1 Q2 2019 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity attributable to ITW
= hidden ÷ hidden = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Illinois Tool Works Inc.’s debt to equity ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Debt to Capital

Illinois Tool Works Inc., debt to capital calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Short-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Long-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Total debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Stockholders’ equity attributable to ITW hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Total capital hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Ratio
Debt to capital1 hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benchmarks
Debt to Capital, Competitors2
Caterpillar Inc. hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

1 Q2 2019 Calculation
Debt to capital = Total debt ÷ Total capital
= hidden ÷ hidden = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Illinois Tool Works Inc.’s debt to capital ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Debt to Assets

Illinois Tool Works Inc., debt to assets calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Short-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Long-term debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Total debt hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
 
Total assets hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Ratio
Debt to assets1 hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benchmarks
Debt to Assets, Competitors2
Caterpillar Inc. hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

1 Q2 2019 Calculation
Debt to assets = Total debt ÷ Total assets
= hidden ÷ hidden = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Illinois Tool Works Inc.’s debt to assets ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Financial Leverage

Illinois Tool Works Inc., financial leverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Total assets hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Stockholders’ equity attributable to ITW hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Ratio
Financial leverage1 hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benchmarks
Financial Leverage, Competitors2
Caterpillar Inc. hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

1 Q2 2019 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity attributable to ITW
= hidden ÷ hidden = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Illinois Tool Works Inc.’s financial leverage ratio deteriorated from Q4 2018 to Q1 2019 and from Q1 2019 to Q2 2019.

Interest Coverage

Illinois Tool Works Inc., interest coverage calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Selected Financial Data (US$ in millions)
Net income hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Less: Income from discontinued operations hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Add: Income tax expense hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Add: Interest expense hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Earnings before interest and tax (EBIT) hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Ratio
Interest coverage1 hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden
Benchmarks
Interest Coverage, Competitors2
Caterpillar Inc. hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden hidden

Based on: 10-Q (filing date: 2019-08-02), 10-Q (filing date: 2019-05-03), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-11-01), 10-Q (filing date: 2018-08-03), 10-Q (filing date: 2018-05-04), 10-K (filing date: 2018-02-15), 10-Q (filing date: 2017-10-27), 10-Q (filing date: 2017-08-04), 10-Q (filing date: 2017-05-05), 10-K (filing date: 2017-02-10), 10-Q (filing date: 2016-10-28), 10-Q (filing date: 2016-08-04), 10-Q (filing date: 2016-05-06), 10-K (filing date: 2016-02-12), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-08-07), 10-Q (filing date: 2015-05-07), 10-K (filing date: 2015-02-13), 10-Q (filing date: 2014-10-31), 10-Q (filing date: 2014-08-08), 10-Q (filing date: 2014-05-02).

1 Q2 2019 Calculation
Interest coverage = (EBITQ2 2019 + EBITQ1 2019 + EBITQ4 2018 + EBITQ3 2018) ÷ (Interest expenseQ2 2019 + Interest expenseQ1 2019 + Interest expenseQ4 2018 + Interest expenseQ3 2018)
= (hidden + hidden + hidden + hidden) ÷ (hidden + hidden + hidden + hidden) = hidden

2 Click competitor name to see calculations.

Ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Illinois Tool Works Inc.’s interest coverage ratio deteriorated from Q4 2018 to Q1 2019 but then improved from Q1 2019 to Q2 2019 exceeding Q4 2018 level.