• Illinois Tool Works average net profit margin for 2023 was 19.12%, a 6.16% increase from 2022.
• Illinois Tool Works average net profit margin for 2022 was 18.01%, a 2.7% increase from 2021.
• Illinois Tool Works average net profit margin for 2021 was 18.51%, a 7.68% decline from 2020.

Net profit margin can be defined as net Income as a portion of total sales revenue.