ITT

ITT · NYSE

Specialty industrial machinery · Industrials · Fiscal year ends Dec 31

ITT reported revenue of $3.9B in the fiscal year ended Dec 2025, up 8.5% from the year before. Operating income was $685M, an operating margin of 17.4%, and net income was $488M. Operating cash flow of $669M less capital expenditure of $121M left free cash flow of $548M. It held more cash than debt (net cash $1.2B).

ITT price by TradingView

ITT vs Specialty industrial machinery

All 33 companies in Specialty industrial machinery ›

ITT, better than medianITT, worseIndustry medianEach peer

Revenue growthlatest year · median 5.8%
8.5%11th of 33
11th of 33
Earnings growthnet income, latest year · median 7.4%
-6.1%21st of 30
21st of 30
Revenue growth, 3 yearscompound a year · median 7.3%
9.6%12th of 32
12th of 32
Earnings growth, 3 yearscompound a year · median 10%
10%14th of 27
14th of 27
Operating marginlatest year · median 14.7%
17.4%9th of 32
9th of 32
Margin changevs prior year · median -0.1 pts
-1.3 pts21st of 32
21st of 32
ROCEEBIT ÷ capital employed · median 10.8%
13.7%11th of 32
11th of 32
Free cash flow marginFCF ÷ revenue · median 12.6%
13.9%13th of 31
13th of 31
Debt ÷ equitylower is safer · median 0.47x
0.13x3rd of 31
3rd of 31
Cash conversionCFO ÷ net income · median 1.33x
1.37x15th of 33
15th of 33

Ranks among the 33 specialty industrial machinery companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.

Last 5 fiscal years

Revenue and net income

RevenueNet income

Income statement

Figures in US$ millions

Fiscal year	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	2,765	2,988	3,283	3,631	3,939
Cost of revenue	1,866	2,065	2,173	2,381	2,546
Gross profit	900	922	1,110	1,249	1,392
Research & development	94.9	96.5	103	116	111
Selling, general & admin	382	374	468	503	597
Operating income	504	468	531	678	685
Net interest incomeBanks	1.1	−6.4	−10.4	–	–
Interest expense	–	10.9	19.2	36.6	48.1
Pre-tax income	509	462	522	650	652
Income tax	190	91.1	105	126	160
Net income	316	367	412	520	488
Diluted EPS	3.66	4.38	4.98	6.32	6.11
Diluted shares	86.5	83.7	82.7	82.3	79.9

Balance sheet

Figures in US$ millions

Fiscal year	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash & equivalents	648	561	489	439	1,743
Receivables	555	629	675	703	756
Inventory	431	534	575	612	672
Current assets	1,722	1,837	1,858	1,886	3,354
Net PP&E	509	527	561	577	627
Goodwill	924	965	1,016	1,430	1,511
Total assets	3,565	3,780	3,933	4,731	6,310
Payables	373	401	437	458	465
Deferred revenue	46.6	70.2	95.9	119	176
Current liabilities	928	1,186	1,038	1,333	1,298
Short-term debt	2.2	2.2	2.3	2.6	2.8
Long-term debt	9.9	7.7	5.7	233	522
Total liabilities	1,335	1,523	1,394	1,946	2,219
Shareholders' equity	2,226	2,248	2,528	2,779	4,084
Backlog (remaining obligations)	891	1,079	1,247	1,594	1,876

Cash flow

Figures in US$ millions

Fiscal year	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating cash flow	−8.4	278	538	563	669
Capital expenditure	88.4	104	108	124	121
Free cash flow	−96.8	174	430	439	548
Depreciation & amortisation	113	107	109	137	143
Stock-based compensation	16.5	18.1	20.2	25.9	36.2
Acquisitions	0.0	147	79.3	865	6.8
Share buybacks	105	245	60.0	105	521
Dividends paid	75.8	87.9	95.8	105	111
Dividend per share	0.88	1.06	1.16	1.28	1.40

Key ratios

Figures in US$ millions

Fiscal year	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue growth (YoY)	–	8.1%	9.9%	10.6%	8.5%
Operating income growth (YoY)	–	−7.2%	13.4%	27.8%	0.9%
EPS growth (YoY)	–	19.7%	13.7%	26.9%	−3.3%
Gross margin	32.5%	30.9%	33.8%	34.4%	35.4%
Operating margin	18.2%	15.7%	16.2%	18.7%	17.4%
Net margin	11.4%	12.3%	12.6%	14.3%	12.4%
Return on equityBlank when equity is negative	14.2%	16.3%	16.3%	18.7%	11.9%
ROCEEBIT ÷ (assets − current liabilities)	19.1%	18.0%	18.3%	20.0%	13.7%
Free cash flow margin	−3.5%	5.8%	13.1%	12.1%	13.9%
Cash conversion (CFO ÷ net income)	−0.03x	0.76x	1.31x	1.08x	1.37x
Receivable days	73	77	75	71	70
Inventory days	84	94	97	94	96
Payable days	73	71	73	70	67
Interest cover	–	42.9x	27.6x	18.5x	14.2x
Debt ÷ equity	0.01x	0.00x	0.00x	0.08x	0.13x
Net debtDebt − cash & equivalents; excludes investments; negative = net cash	−635	−551	−481	−204	−1,219
Current ratio	1.86x	1.55x	1.79x	1.41x	2.58x

Recent filings

More in Specialty industrial machinery

Want global exposure without picking stocks? See the Technofunda Global Portfolio

Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.

Fiscal year

Dec 2021

Dec 2022

Dec 2023

Dec 2024

Dec 2025

Revenue

2,765

2,988

3,283

3,631

3,939

Cost of revenue

1,866

2,065

2,173

2,381

2,546

Gross profit

900

922

1,110

1,249

1,392

Research & development

94.9

96.5

103

116

111

Selling, general & admin

382

374

468

503

597

Operating income

504

468

531

678

685

Net interest incomeBanks

1.1

−6.4

−10.4

–

Interest expense

–

10.9

19.2

36.6

48.1

Pre-tax income

509

462

522

650

652

Income tax

190

91.1

105

126

160

Net income

316

367

412

520

488

Diluted EPS

3.66

4.38

4.98

6.32

6.11

Diluted shares

86.5

83.7

82.7

82.3

79.9

Fiscal year

Dec 2021

Dec 2022

Dec 2023

Dec 2024

Dec 2025

Cash & equivalents

648

561

489

439

1,743

Receivables

555

629

675

703

756

Inventory

431

534

575

612

672

Current assets

1,722

1,837

1,858

1,886

3,354

Net PP&E

509

527

561

577

627

Goodwill

924

965

1,016

1,430

1,511

Total assets

3,565

3,780

3,933

4,731

6,310

Payables

373

401

437

458

465

Deferred revenue

46.6

70.2

95.9

119

176

Current liabilities

928

1,186

1,038

1,333

1,298

Short-term debt

2.2

2.3

2.6

2.8

Long-term debt

9.9

7.7

5.7

233

522

Total liabilities

1,335

1,523

1,394

1,946

2,219

Shareholders' equity

2,226

2,248

2,528

2,779

4,084

Backlog (remaining obligations)

891

1,079

1,247

1,594

1,876

Fiscal year

Dec 2021

Dec 2022

Dec 2023

Dec 2024

Dec 2025

Operating cash flow

−8.4

278

538

563

669

Capital expenditure

88.4

104

108

124

121

Free cash flow

−96.8

174

430

439

548

Depreciation & amortisation

113

107

109

137

143

Stock-based compensation

16.5

18.1

20.2

25.9

36.2

Acquisitions

0.0

147

79.3

865

6.8

Share buybacks

105

245

60.0

105

521

Dividends paid

75.8

87.9

95.8

105

111

Dividend per share

0.88

1.06

1.16

1.28

1.40

Fiscal year

Dec 2021

Dec 2022

Dec 2023

Dec 2024

Dec 2025

Revenue growth (YoY)

–

8.1%

9.9%

10.6%

8.5%

Operating income growth (YoY)

–

−7.2%

13.4%

27.8%

0.9%

EPS growth (YoY)

–

19.7%

13.7%

26.9%

−3.3%

Gross margin

32.5%

30.9%

33.8%

34.4%

35.4%

Operating margin

18.2%

15.7%

16.2%

18.7%

17.4%

Net margin

11.4%

12.3%

12.6%

14.3%

12.4%

Return on equityBlank when equity is negative

14.2%

16.3%

18.7%

11.9%

ROCEEBIT ÷ (assets − current liabilities)

19.1%

18.0%

18.3%

20.0%

13.7%

Free cash flow margin

−3.5%

5.8%

13.1%

12.1%

13.9%

Cash conversion (CFO ÷ net income)

−0.03x

0.76x

1.31x

1.08x

1.37x

Receivable days

Inventory days

Payable days

Interest cover

–

42.9x

27.6x

18.5x

14.2x

Debt ÷ equity

0.01x

0.00x

0.08x

0.13x

Net debtDebt − cash & equivalents; excludes investments; negative = net cash

−635

−551

−481

−204

−1,219

Current ratio

1.86x

1.55x

1.79x

1.41x

2.58x