ITT INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ITT INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,405	2,585	2,745	2,846	2,478	2,765	2,988	3,283	3,631	3,939
Cost of revenue	1,645	1,765	1,858	1,936	1,696	1,866	2,065	2,173	2,381	2,546
Gross profit	761	820	887	910	782	900	922	1,110	1,249	1,392
Research and development	80.5	93.5	98.4	97.9	84.9	94.9	96.5	103	116	111
Selling and marketing	170	170	168	166	147	151	157	174	206	229
General and administrative	261	258	254	241	201	231	217	294	297	368
Operating income	277	319	397	411	227	504	468	531	678	685
Interest expense							10.9	19.2	36.6	48.1
Interest income							4.5	8.8	6.6	10.7
Other non-operating income			1.3	3.4	2.2	2.4	0.2	1.7	1.6	4.4
Pre-tax income	258	309	391	414	85.2	509	462	522	650	652
Income tax	76	195	57.7	89.9	15.3	190	91.1	105	126	160
Income from continuing operations	182	115	332	323	68.5	315	368	413	520	488
Net income to minority interests	0.5	-0.2	0.9	1.1	1.4	4.7	2.4	3.3	3.4	3.3
Net income	186	114	334	325	72.5	316	367	412	520	488
EBITDA	379	425	507	525	339	617	575	640	815	828
EPS, basic	2.09	1.29	3.81	3.71	0.84	3.68	4.40	5.01	6.36	6.15
EPS, diluted	2.07	1.28	3.76	3.67	0.83	3.66	4.38	4.98	6.32	6.11
Shares, basic (weighted)	89.2	88.3	87.7	87.7	86.7	86	83.4	82.3	81.8	79.4
Shares, diluted (weighted)	89.9	89	88.7	88.6	87.3	86.5	83.7	82.7	82.3	79.9
Dividend per share	0.50	0.51	0.54	0.59	0.68	0.88	1.06	1.16	1.28	1.40

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	461	390	561	612	860	648	561	489	439	1,743
Short-term investments	0	0	0	0	0	0	0	0	0	0
Receivables	524	630	540	578	508	555	629	675	703	756
Inventory	295	312	381	393	361	431	534	575	612	672
Other current assets	122	147	163	153	190	88.6	113	118	131	183
Total current assets	1,402	1,479	1,645	1,737	1,917	1,722	1,837	1,858	1,886	3,354
Property, plant and equipment	465	522	519	532	525	509	527	561	577	627
Lease right-of-use assets			0	91.7	87.3	78	73.8	87.4	92.2	80.4
Goodwill	775	887	876	927	945	924	965	1,016	1,430	1,511
Intangible assets	160	156	136	138	106	85.7	113	117	454	433
Other non-current assets	188	203	197	317	272	324	339	381	384	385
Total assets	3,602	3,700	3,847	4,108	4,278	3,565	3,780	3,933	4,731	6,310
Accounts payable	302	351	339	332	307	373	401	437	458	465
Accrued liabilities	350	384	417	431	457	357	333	413	447	572
Deferred revenue			61	57.4	56.2	46.6	70.2	95.9	119	176
Short-term debt	214	164	116	86.5	107	198	451	188	428	261
Total current liabilities	866	899	872	850	871	928	1,186	1,038	1,333	1,298
Long-term debt	1.8	8.2	8.8	12.9	13	9.9	7.7	5.7	233	522
Lease liabilities			0	76	72.4	64	58.9	72.3	73.7	60
Other non-current liabilities	181	176	167	235	211	207	200	211	261	279
Total liabilities	2,173	2,102	2,022	2,030	2,150	1,335	1,523	1,394	1,946	2,219
Total debt	216	172	125	99.4	120	208	459	5.7	233	522
Paid-in capital									0	1,314
Retained earnings	1,789	1,856	2,110	2,372	2,319	2,462	2,510	2,778	3,116	2,987
Other comprehensive income	-451	-348	-376	-385	-279	-321	-344	-332	-418	-303
Shareholders' equity	1,426	1,596	1,822	2,075	2,126	2,226	2,248	2,528	2,779	4,084
Minority interests	2	1.7	2.5	2.9	1.5	4.9	9.3	10.9	7	6.9
Total equity	1,428	1,598	1,825	2,078	2,128	2,231	2,270	2,554	2,786	4,091
Total liabilities and equity	3,602	3,700	3,847	4,108	4,278	3,565	3,780	3,933	4,731	6,310
Shares outstanding	89.5	88.2	87.6	87.8	86.5	85.5	82.7	82.1	81.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	186	113	335	326	73.9	321	369	416	523	491
Depreciation and amortization	102	105	109	113	112	113	107	109	137	143
Stock-based compensation	12.6	18.1	21.6	15.7	13.4	16.5	18.1	20.2	25.9	36.2
Deferred income tax	20.9	147	-14.7	30.9	-43.9	116	2.9	-27.6	-20.6	4.6
Change in receivables	22.5	-59.3	-2.7	-40.6	83.3	-62.2	-90.7	-39.2	-43.2	-10.3
Change in inventory	-7.2	14.2	-13.3	-0.6	36.5	-82.7	-99.5	-36.7	0	-24.6
Change in payables	0.7	16.8	-4.2	-1.9	-34.7	77.6	39.4	26.3	1.8	-18.8
Cash from operations	241	247	372	358	436	-8.4	278	538	563	669
Capital expenditures	-111	-113	-95.5	-91.4	-63.7	-88.4	-104	-108	-124	-121
Acquisitions	-8.8	-114	0	-113	-4.7	0	-147	-79.3	-865	-6.8
Purchases of investments	-60.6	0	0
Sales and maturities of investments	124	0	0
Cash from investing	-54.4	-223	-52.3	-203	-65.8	-82.3	-255	-181	-818	-120
Debt issued	0	7	3.2	8.1	1.5	0	0	0	764	749
Debt repaid	-1.1	-1.3	-2.7	-3.2	-2.5	-2.4	-2.1	-2.2	-537	-462
Stock issued	12.3	11.2	5.8	14.9	4.3	1.2	1.8	0	0	1,314
Share buybacks	-77.8	-32.9	-56.1	-41.4	-73.2	-105	-245	-60	-105	-521
Dividends paid	-44.6	-45.4	-47.3	-52.1	-59	-75.8	-87.9	-95.8	-105	-111
Cash from financing	-142	-113	-129	-102	-159	-99.8	-83.3	-432	235	729
Exchange rate effect	-11.4	20	-15.3	-3	35.2	-22.6	-25.8	3.6	-29	26.3
Net change in cash	45	-70.9	171	50.7	248	-212	-86.4	-72	-49.9	1,304
Free cash flow	129	134	276	266	372	-96.8	174	430	439	548
Interest paid	4.5	3.8	3.3	2.5	3.3	3.3	10.8	15.7	33.4	41.7
Income taxes paid	56.1	62	53.5	63.4	61.1	61.3	92.7	113	129	152

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $206.26 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.0%	Gross profit / revenue.
Operating margin	14.4%	Operating income / revenue.
EBITDA margin	17.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	12.8%	Pre-tax income / revenue.
Net margin	8.9%	Net income / revenue.
FCF margin	10.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.4%	Cash from operations / revenue.
Effective tax rate	29.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	8.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.8%	Net income / average total assets.
Return on invested capital (ROIC)	6.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	2.6%	Research and development expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.6%	Capital expenditures / revenue.
D&A / revenue	3.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	14.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	12.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	0.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	13.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	24.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	1.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	12.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	19.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-6.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	10.0%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	46.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-3.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	11.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	49.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	18.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	34.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	24.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	46.6%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	8.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	10.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	10.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	15.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	47.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	22.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	13.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	33.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	18.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	8.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.26x	Current assets / current liabilities.
Quick ratio	0.74x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.26x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.60x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	26.0%	Total debt / total assets.
Liabilities / assets	56.4%	Total liabilities / total assets.
Net debt	$2.28B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.77x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.05x	Operating income / interest expense.
Working capital	$593.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	63.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$2.15B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.43x	Revenue / average total assets.
Fixed asset turnover	5.95x	Revenue / average property, plant and equipment.
Inventory turnover	3.29x	Cost of revenue / average inventory.
Days inventory	111 days	365 x average inventory / cost of revenue.
Receivables turnover	4.43x	Revenue / average receivables.
Days sales outstanding	82 days	365 x average receivables / revenue.
Days payables	75 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	118 days	Days inventory + days sales outstanding - days payables.
FCF conversion	120.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	19.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.69	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$52.76	Revenue / diluted weighted shares.
FCF per share	$5.67	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.05	Cash from operations / diluted weighted shares.
Book value per share	$53.70	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$24.04	Tangible book value / shares outstanding.
Cash per share	$6.61	(Cash + short-term investments) / shares outstanding.
Payout ratio	29.5%	Dividends paid / net income, when net income is positive.
Dividends / FCF	24.4%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	24.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$18.44B	Share price x shares outstanding.
Enterprise value	$20.72B	Market cap + total debt - cash - short-term investments.
P/E	43.7x	Market cap / net income. Only when net income is positive.
P/S	3.89x	Market cap / revenue.
P/B	3.84x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	36.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	29.1x	Market cap / cash from operations, when positive.
EV/Sales	4.37x	Enterprise value / revenue.
EV/EBIT	30.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	25.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	40.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.8%	Free cash flow / market cap.
Earnings yield	2.3%	Net income / market cap (the inverse of P/E).
Dividend yield	0.7%	Dividends paid over the period / market cap.
Shareholder yield	1.4%	(Dividends paid + share buybacks) / market cap.
PEG	3.73x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ITT INC.'s revenue in fiscal 2025?

ITT INC. reported revenue of $3.94B for fiscal 2025, 8.5% higher than the year before.

Was ITT INC. profitable in fiscal 2025?

Yes. Net income was $488.0M, a net margin of 12.4%.

How much free cash flow did ITT INC. generate in fiscal 2025?

Cash from operations of $668.8M minus capital expenditures of $121.3M left free cash flow of $547.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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