Illinois Depreciation vs Change To Inventory Analysis

ITW Stock  USD 273.29  0.33  0.12%   
Illinois Tool financial indicator trend analysis is infinitely more than just investigating Illinois Tool Works recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Illinois Tool Works is a good investment. Please check the relationship between Illinois Tool Depreciation and its Change To Inventory accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Illinois Tool Works. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Depreciation vs Change To Inventory

Depreciation vs Change To Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Illinois Tool Works Depreciation account and Change To Inventory. At this time, the significance of the direction appears to have no relationship.
The correlation between Illinois Tool's Depreciation and Change To Inventory is 0.03. Overlapping area represents the amount of variation of Depreciation that can explain the historical movement of Change To Inventory in the same time period over historical financial statements of Illinois Tool Works, assuming nothing else is changed. The correlation between historical values of Illinois Tool's Depreciation and Change To Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Depreciation of Illinois Tool Works are associated (or correlated) with its Change To Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Change To Inventory has no effect on the direction of Depreciation i.e., Illinois Tool's Depreciation and Change To Inventory go up and down completely randomly.

Correlation Coefficient

0.03
Relationship DirectionPositive 
Relationship StrengthInsignificant

Depreciation

Depreciation indicates how much of Illinois Tool Works value has been used up. For tax purposes Illinois Tool can deduct the cost of the tangible assets it purchases as business expenses. However, Illinois Tool Works must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.

Change To Inventory

The increase or decrease in the amount of inventory a company has over a certain period.
Most indicators from Illinois Tool's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Illinois Tool Works current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Illinois Tool Works. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.
At this time, Illinois Tool's Discontinued Operations is fairly stable compared to the past year. Enterprise Value Over EBITDA is likely to climb to 20.27 in 2024, whereas Tax Provision is likely to drop slightly above 691.5 M in 2024.
 2021 2022 2023 2024 (projected)
Gross Profit6.0B6.5B6.8B4.1B
Total Revenue14.5B15.9B16.1B10.8B

Illinois Tool fundamental ratios Correlations

0.560.370.570.680.890.250.410.650.980.610.650.840.160.580.730.17-0.130.760.970.340.730.910.050.740.74
0.560.850.58-0.070.680.870.930.360.570.840.360.68-0.60.780.50.2-0.830.820.520.32-0.050.490.460.890.89
0.370.850.69-0.160.50.820.890.140.350.810.140.55-0.630.520.490.32-0.840.640.360.51-0.250.380.70.690.7
0.570.580.690.370.60.510.60.20.520.460.20.58-0.050.120.590.13-0.410.450.610.910.20.650.560.650.65
0.68-0.07-0.160.370.45-0.34-0.190.520.640.00.520.320.81-0.150.35-0.160.510.040.70.310.920.68-0.190.110.11
0.890.680.50.60.450.550.650.320.940.70.320.97-0.10.670.870.24-0.430.810.780.270.450.920.350.850.85
0.250.870.820.51-0.340.550.97-0.150.320.75-0.150.6-0.750.630.520.32-0.970.640.140.23-0.390.340.730.730.74
0.410.930.890.6-0.190.650.970.020.460.850.020.68-0.680.680.590.35-0.940.720.320.3-0.250.460.720.810.81
0.650.360.140.20.520.32-0.150.020.530.281.00.210.230.360.01-0.210.160.430.760.210.640.34-0.450.390.39
0.980.570.350.520.640.940.320.460.530.630.530.890.120.630.80.22-0.190.770.90.240.690.940.110.750.75
0.610.840.810.460.00.70.750.850.280.630.280.74-0.540.810.640.53-0.750.830.540.15-0.020.60.480.740.74
0.650.360.140.20.520.32-0.150.021.00.530.280.210.230.360.01-0.210.160.430.760.210.640.34-0.450.390.39
0.840.680.550.580.320.970.60.680.210.890.740.21-0.230.710.940.4-0.50.860.720.260.350.880.430.850.84
0.16-0.6-0.63-0.050.81-0.1-0.75-0.680.230.12-0.540.23-0.23-0.6-0.12-0.360.87-0.510.210.060.740.19-0.45-0.45-0.45
0.580.780.520.12-0.150.670.630.680.360.630.810.360.71-0.60.510.36-0.640.920.49-0.170.040.440.120.780.78
0.730.50.490.590.350.870.520.590.010.80.640.010.94-0.120.510.54-0.410.680.60.280.320.860.560.670.66
0.170.20.320.13-0.160.240.320.35-0.210.220.53-0.210.4-0.360.360.54-0.370.380.1-0.05-0.170.290.430.190.19
-0.13-0.83-0.84-0.410.51-0.43-0.97-0.940.16-0.19-0.750.16-0.50.87-0.64-0.41-0.37-0.63-0.05-0.180.54-0.18-0.71-0.67-0.68
0.760.820.640.450.040.810.640.720.430.770.830.430.86-0.510.920.680.38-0.630.70.190.170.630.240.920.92
0.970.520.360.610.70.780.140.320.760.90.540.760.720.210.490.60.1-0.050.70.450.740.83-0.040.690.69
0.340.320.510.910.310.270.230.30.210.240.150.210.260.06-0.170.28-0.05-0.180.190.450.140.370.370.40.4
0.73-0.05-0.250.20.920.45-0.39-0.250.640.69-0.020.640.350.740.040.32-0.170.540.170.740.140.63-0.40.170.17
0.910.490.380.650.680.920.340.460.340.940.60.340.880.190.440.860.29-0.180.630.830.370.630.290.650.65
0.050.460.70.56-0.190.350.730.72-0.450.110.48-0.450.43-0.450.120.560.43-0.710.24-0.040.37-0.40.290.380.38
0.740.890.690.650.110.850.730.810.390.750.740.390.85-0.450.780.670.19-0.670.920.690.40.170.650.381.0
0.740.890.70.650.110.850.740.810.390.750.740.390.84-0.450.780.660.19-0.680.920.690.40.170.650.381.0
Click cells to compare fundamentals

Illinois Tool Account Relationship Matchups

Illinois Tool fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets15.1B15.6B16.1B15.4B15.5B11.4B
Short Long Term Debt Total7.8B8.1B7.7B7.8B8.4B8.8B
Other Current Liab1.5B1.6B2.0B2.1B2.0B2.1B
Total Current Liabilities2.2B2.6B3.5B4.5B4.7B4.9B
Total Stockholder Equity3.0B3.2B3.6B3.1B3.0B5.1B
Property Plant And Equipment Net1.7B1.8B1.8B1.8B2.2B1.5B
Net Debt5.8B5.6B6.2B7.1B7.3B7.7B
Retained Earnings22.4B23.1B24.3B25.8B27.1B28.5B
Cash2.0B2.6B1.5B708M1.1B1.1B
Non Current Assets Total8.8B9.1B9.7B9.2B9.3B6.8B
Non Currrent Assets Other1.2B1.3B1.4B1.2B1.0B1.1B
Cash And Short Term Investments2.0B2.6B1.5B708M1.1B1.1B
Net Receivables2.5B2.5B2.8B3.2B3.3B1.9B
Common Stock Shares Outstanding325.6M318.3M316.4M310.7M303.6M371.6M
Liabilities And Stockholders Equity15.1B15.6B16.1B15.4B15.5B11.4B
Non Current Liabilities Total9.9B9.8B9.0B7.9B7.8B4.0B
Inventory1.2B1.2B1.7B2.1B1.7B1.1B
Other Current Assets296M2.8B3.2B3.5B212M201.4M
Other Stockholder Equity(17.7B)(18.3B)(19.2B)(20.9B)(22.3B)(21.2B)
Total Liab12.0B12.4B12.5B12.3B12.5B6.3B
Total Current Assets6.3B6.5B6.4B6.3B6.2B4.6B
Short Term Debt4M405M839M1.6B1.9B2.0B
Intangible Assets851M781M972M768M657M624.2M
Accounts Payable472M534M585M594M581M511.2M
Property Plant And Equipment Gross1.9B2.0B5.9B6.0B6.3B6.6B
Accumulated Other Comprehensive Income(1.7B)(1.6B)(1.5B)(1.8B)(1.8B)(1.7B)
Other Liab2.0B2.1B2.1B1.6B1.8B1.4B
Other Assets1.5B1.8B2.0B1.7B1.9B1.4B
Long Term Debt7.8B7.8B6.9B6.2B6.3B4.4B
Treasury Stock(17.5B)(19.0B)(19.7B)(20.6B)(18.6B)(17.6B)
Property Plant Equipment1.7B1.8B1.8B1.8B1.7B1.5B
Current Deferred Revenue188M222M394M427M520M373.4M
Good Will4.5B4.7B5.0B4.9B4.9B4.8B
Net Tangible Assets(2.3B)(2.3B)(2.3B)(2.5B)(2.3B)(2.2B)
Retained Earnings Total Equity22.4B23.1B24.3B25.8B29.7B18.7B
Long Term Debt Total7.8B7.8B6.9B6.2B7.1B6.4B

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