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Side-by-side financial comparison of Illinois Tool Works (ITW) and Seagate Technology (STX). Click either name above to swap in a different company.
Illinois Tool Works is the larger business by last-quarter revenue ($4.1B vs $3.1B, roughly 1.3× Seagate Technology). Seagate Technology runs the higher net margin — 24.0% vs 19.3%, a 4.7% gap on every dollar of revenue. On growth, Seagate Technology posted the faster year-over-year revenue change (44.1% vs 4.1%). Seagate Technology produced more free cash flow last quarter ($953.0M vs $858.0M). Over the past eight quarters, Seagate Technology's revenue compounded faster (19.8% CAGR vs 1.5%).
Illinois Tool Works Inc. (ITW) is an American Fortune 500 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L. Smith and has built its growth on a "small-wins strategy" based on decentralization, simplicity, customer-focused innovation, and acquisitions.
Seagate Technology Holdings plc is an American data storage company. It was incorporated in 1978 as Shugart Technology and commenced business in 1979. Since 2010, the company has been incorporated in Dublin, Ireland, with operational headquarters in Fremont, California, United States.
ITW vs STX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $3.1B |
| Net Profit | $790.0M | $748.0M |
| Gross Margin | 53.0% | 46.5% |
| Operating Margin | 26.5% | 32.1% |
| Net Margin | 19.3% | 24.0% |
| Revenue YoY | 4.1% | 44.1% |
| Net Profit YoY | 5.3% | 120.0% |
| EPS (diluted) | $2.72 | $3.27 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 26 | — | $3.1B | ||
| Q1 26 | — | $2.8B | ||
| Q4 25 | $4.1B | $2.6B | ||
| Q3 25 | $4.1B | — | ||
| Q2 25 | $4.1B | $2.4B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $3.9B | $2.3B | ||
| Q3 24 | $4.0B | $2.2B |
| Q3 26 | — | $748.0M | ||
| Q1 26 | — | $593.0M | ||
| Q4 25 | $790.0M | $549.0M | ||
| Q3 25 | $821.0M | — | ||
| Q2 25 | $755.0M | $488.0M | ||
| Q1 25 | $700.0M | $340.0M | ||
| Q4 24 | $750.0M | $336.0M | ||
| Q3 24 | $1.2B | $305.0M |
| Q3 26 | — | 46.5% | ||
| Q1 26 | — | 41.6% | ||
| Q4 25 | 53.0% | 39.4% | ||
| Q3 25 | 53.2% | — | ||
| Q2 25 | 52.8% | 37.4% | ||
| Q1 25 | 52.6% | 35.2% | ||
| Q4 24 | 52.1% | 34.9% | ||
| Q3 24 | 52.5% | 32.9% |
| Q3 26 | — | 32.1% | ||
| Q1 26 | — | 29.8% | ||
| Q4 25 | 26.5% | 26.4% | ||
| Q3 25 | 27.4% | — | ||
| Q2 25 | 26.4% | 23.2% | ||
| Q1 25 | 24.8% | 20.0% | ||
| Q4 24 | 26.2% | 21.0% | ||
| Q3 24 | 26.5% | 18.6% |
| Q3 26 | — | 24.0% | ||
| Q1 26 | — | 21.0% | ||
| Q4 25 | 19.3% | 20.9% | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 18.6% | 20.0% | ||
| Q1 25 | 18.2% | 15.7% | ||
| Q4 24 | 19.1% | 14.5% | ||
| Q3 24 | 29.2% | 14.1% |
| Q3 26 | — | $3.27 | ||
| Q1 26 | — | $2.60 | ||
| Q4 25 | $2.72 | $2.43 | ||
| Q3 25 | $2.81 | — | ||
| Q2 25 | $2.58 | $2.24 | ||
| Q1 25 | $2.38 | $1.57 | ||
| Q4 24 | $2.53 | $1.55 | ||
| Q3 24 | $3.91 | $1.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $851.0M | $1.1B |
| Total DebtLower is stronger | $7.7B | $3.9B |
| Stockholders' EquityBook value | $3.2B | — |
| Total Assets | $16.1B | $8.9B |
| Debt / EquityLower = less leverage | 2.38× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 26 | — | $1.1B | ||
| Q1 26 | — | $1.0B | ||
| Q4 25 | $851.0M | $1.1B | ||
| Q3 25 | $924.0M | — | ||
| Q2 25 | $788.0M | $891.0M | ||
| Q1 25 | $873.0M | $814.0M | ||
| Q4 24 | $948.0M | $1.2B | ||
| Q3 24 | $947.0M | $1.2B |
| Q3 26 | — | $3.9B | ||
| Q1 26 | — | — | ||
| Q4 25 | $7.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $7.1B | — | ||
| Q3 24 | — | — |
| Q3 26 | — | — | ||
| Q1 26 | — | $459.0M | ||
| Q4 25 | $3.2B | $-63.0M | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | $-453.0M | ||
| Q1 25 | $3.2B | $-829.0M | ||
| Q4 24 | $3.3B | $-1.1B | ||
| Q3 24 | $3.4B | $-1.3B |
| Q3 26 | — | $8.9B | ||
| Q1 26 | — | $8.7B | ||
| Q4 25 | $16.1B | $8.4B | ||
| Q3 25 | $16.1B | — | ||
| Q2 25 | $16.0B | $8.0B | ||
| Q1 25 | $15.5B | $7.6B | ||
| Q4 24 | $15.1B | $8.0B | ||
| Q3 24 | $15.8B | $8.0B |
| Q3 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 2.38× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $963.0M | $2.4B |
| Free Cash FlowOCF − Capex | $858.0M | $953.0M |
| FCF MarginFCF / Revenue | 21.0% | 30.6% |
| Capex IntensityCapex / Revenue | 2.6% | — |
| Cash ConversionOCF / Net Profit | 1.22× | 3.17× |
| TTM Free Cash FlowTrailing 4 quarters | $2.7B | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 26 | — | $2.4B | ||
| Q1 26 | — | — | ||
| Q4 25 | $963.0M | $532.0M | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $550.0M | $508.0M | ||
| Q1 25 | $592.0M | $259.0M | ||
| Q4 24 | $1.1B | $221.0M | ||
| Q3 24 | $891.0M | $95.0M |
| Q3 26 | — | $953.0M | ||
| Q1 26 | — | — | ||
| Q4 25 | $858.0M | $427.0M | ||
| Q3 25 | $904.0M | — | ||
| Q2 25 | $449.0M | $425.0M | ||
| Q1 25 | $496.0M | $216.0M | ||
| Q4 24 | $996.0M | $150.0M | ||
| Q3 24 | $783.0M | $27.0M |
| Q3 26 | — | 30.6% | ||
| Q1 26 | — | — | ||
| Q4 25 | 21.0% | 16.2% | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 11.1% | 17.4% | ||
| Q1 25 | 12.9% | 10.0% | ||
| Q4 24 | 25.3% | 6.5% | ||
| Q3 24 | 19.7% | 1.2% |
| Q3 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 4.0% | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 2.5% | 3.4% | ||
| Q1 25 | 2.5% | 2.0% | ||
| Q4 24 | 3.0% | 3.1% | ||
| Q3 24 | 2.7% | 3.1% |
| Q3 26 | — | 3.17× | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.22× | 0.97× | ||
| Q3 25 | 1.24× | — | ||
| Q2 25 | 0.73× | 1.04× | ||
| Q1 25 | 0.85× | 0.76× | ||
| Q4 24 | 1.49× | 0.66× | ||
| Q3 24 | 0.77× | 0.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
