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Side-by-side financial comparison of Illinois Tool Works (ITW) and Constellation Brands (STZ). Click either name above to swap in a different company.
Illinois Tool Works is the larger business by last-quarter revenue ($4.1B vs $2.2B, roughly 1.8× Constellation Brands). Constellation Brands runs the higher net margin — 22.6% vs 19.3%, a 3.3% gap on every dollar of revenue. On growth, Illinois Tool Works posted the faster year-over-year revenue change (4.1% vs -9.8%). Illinois Tool Works produced more free cash flow last quarter ($858.0M vs $370.9M). Over the past eight quarters, Constellation Brands's revenue compounded faster (1.9% 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.
Constellation Brands, Inc. is an American producer and marketer of beer, wine, and spirits. A Fortune 500 company, Constellation is the largest beer import company in the US, measured by sales, and has the third-largest market share of all major beer suppliers. It also has sizable investments in medical and recreational cannabis through its association with Canopy Growth. Based in Rochester, New York, Constellation has about 40 facilities and approximately 9,000 employees.
ITW vs STZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.1B | $2.2B |
| Net Profit | $790.0M | $502.8M |
| Gross Margin | 53.0% | 53.2% |
| Operating Margin | 26.5% | 31.1% |
| Net Margin | 19.3% | 22.6% |
| Revenue YoY | 4.1% | -9.8% |
| Net Profit YoY | 5.3% | -18.4% |
| EPS (diluted) | $2.72 | — |
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.
| Q4 25 | $4.1B | $2.2B | ||
| Q3 25 | $4.1B | $2.5B | ||
| Q2 25 | $4.1B | $2.5B | ||
| Q1 25 | $3.8B | $2.2B | ||
| Q4 24 | $3.9B | $2.5B | ||
| Q3 24 | $4.0B | $2.9B | ||
| Q2 24 | $4.0B | $2.7B | ||
| Q1 24 | $4.0B | $2.1B |
| Q4 25 | $790.0M | $502.8M | ||
| Q3 25 | $821.0M | $466.0M | ||
| Q2 25 | $755.0M | $516.1M | ||
| Q1 25 | $700.0M | $-375.3M | ||
| Q4 24 | $750.0M | $615.9M | ||
| Q3 24 | $1.2B | $-1.2B | ||
| Q2 24 | $759.0M | $877.0M | ||
| Q1 24 | $819.0M | $392.4M |
| Q4 25 | 53.0% | 53.2% | ||
| Q3 25 | 53.2% | 52.8% | ||
| Q2 25 | 52.8% | 50.4% | ||
| Q1 25 | 52.6% | 51.5% | ||
| Q4 24 | 52.1% | 52.1% | ||
| Q3 24 | 52.5% | 51.8% | ||
| Q2 24 | 52.3% | 52.7% | ||
| Q1 24 | 51.7% | 48.6% |
| Q4 25 | 26.5% | 31.1% | ||
| Q3 25 | 27.4% | 35.2% | ||
| Q2 25 | 26.4% | 28.4% | ||
| Q1 25 | 24.8% | -6.9% | ||
| Q4 24 | 26.2% | 32.2% | ||
| Q3 24 | 26.5% | -42.1% | ||
| Q2 24 | 26.2% | 35.4% | ||
| Q1 24 | 28.4% | 29.4% |
| Q4 25 | 19.3% | 22.6% | ||
| Q3 25 | 20.2% | 18.8% | ||
| Q2 25 | 18.6% | 20.5% | ||
| Q1 25 | 18.2% | -17.3% | ||
| Q4 24 | 19.1% | 25.0% | ||
| Q3 24 | 29.2% | -41.1% | ||
| Q2 24 | 18.8% | 32.9% | ||
| Q1 24 | 20.6% | 18.3% |
| Q4 25 | $2.72 | — | ||
| Q3 25 | $2.81 | — | ||
| Q2 25 | $2.58 | — | ||
| Q1 25 | $2.38 | — | ||
| Q4 24 | $2.53 | — | ||
| Q3 24 | $3.91 | — | ||
| Q2 24 | $2.54 | — | ||
| Q1 24 | $2.73 | — |
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 | $152.4M |
| Total DebtLower is stronger | $7.7B | $10.3B |
| Stockholders' EquityBook value | $3.2B | $7.7B |
| Total Assets | $16.1B | $21.7B |
| Debt / EquityLower = less leverage | 2.38× | 1.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $851.0M | $152.4M | ||
| Q3 25 | $924.0M | $72.0M | ||
| Q2 25 | $788.0M | $73.9M | ||
| Q1 25 | $873.0M | $68.1M | ||
| Q4 24 | $948.0M | $73.7M | ||
| Q3 24 | $947.0M | $64.6M | ||
| Q2 24 | $862.0M | $73.8M | ||
| Q1 24 | $959.0M | $152.4M |
| Q4 25 | $7.7B | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | $7.1B | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
| Q4 25 | $3.2B | $7.7B | ||
| Q3 25 | $3.2B | $7.5B | ||
| Q2 25 | $3.2B | $7.3B | ||
| Q1 25 | $3.2B | $6.9B | ||
| Q4 24 | $3.3B | $7.8B | ||
| Q3 24 | $3.4B | $7.9B | ||
| Q2 24 | $3.0B | $10.3B | ||
| Q1 24 | $3.0B | $9.7B |
| Q4 25 | $16.1B | $21.7B | ||
| Q3 25 | $16.1B | $21.4B | ||
| Q2 25 | $16.0B | $22.3B | ||
| Q1 25 | $15.5B | $21.7B | ||
| Q4 24 | $15.1B | $22.8B | ||
| Q3 24 | $15.8B | $23.1B | ||
| Q2 24 | $15.6B | $26.1B | ||
| Q1 24 | $15.1B | $25.7B |
| Q4 25 | 2.38× | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | 2.14× | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $616.9M |
| Free Cash FlowOCF − Capex | $858.0M | $370.9M |
| FCF MarginFCF / Revenue | 21.0% | 16.7% |
| Capex IntensityCapex / Revenue | 2.6% | 11.1% |
| Cash ConversionOCF / Net Profit | 1.22× | 1.23× |
| TTM Free Cash FlowTrailing 4 quarters | $2.7B | $1.8B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $963.0M | $616.9M | ||
| Q3 25 | $1.0B | $852.1M | ||
| Q2 25 | $550.0M | $637.2M | ||
| Q1 25 | $592.0M | $594.7M | ||
| Q4 24 | $1.1B | $685.2M | ||
| Q3 24 | $891.0M | $1.2B | ||
| Q2 24 | $687.0M | $690.5M | ||
| Q1 24 | $589.0M | $433.2M |
| Q4 25 | $858.0M | $370.9M | ||
| Q3 25 | $904.0M | $634.8M | ||
| Q2 25 | $449.0M | $444.4M | ||
| Q1 25 | $496.0M | $312.1M | ||
| Q4 24 | $996.0M | $456.8M | ||
| Q3 24 | $783.0M | $854.0M | ||
| Q2 24 | $571.0M | $315.2M | ||
| Q1 24 | $494.0M | $76.0M |
| Q4 25 | 21.0% | 16.7% | ||
| Q3 25 | 22.3% | 25.6% | ||
| Q2 25 | 11.1% | 17.7% | ||
| Q1 25 | 12.9% | 14.4% | ||
| Q4 24 | 25.3% | 18.5% | ||
| Q3 24 | 19.7% | 29.3% | ||
| Q2 24 | 14.2% | 11.8% | ||
| Q1 24 | 12.4% | 3.6% |
| Q4 25 | 2.6% | 11.1% | ||
| Q3 25 | 2.9% | 8.8% | ||
| Q2 25 | 2.5% | 7.7% | ||
| Q1 25 | 2.5% | 13.1% | ||
| Q4 24 | 3.0% | 9.3% | ||
| Q3 24 | 2.7% | 11.2% | ||
| Q2 24 | 2.9% | 14.1% | ||
| Q1 24 | 2.4% | 16.7% |
| Q4 25 | 1.22× | 1.23× | ||
| Q3 25 | 1.24× | 1.83× | ||
| Q2 25 | 0.73× | 1.23× | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 1.49× | 1.11× | ||
| Q3 24 | 0.77× | — | ||
| Q2 24 | 0.91× | 0.79× | ||
| Q1 24 | 0.72× | 1.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ITW
Segment breakdown not available.
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
