Filing Flows › Comparisons › ITW vs GTES
Illinois Tool Works vs Gates Industrial: ITW and GTES compared
Illinois Tool Works is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $904M for Gates Industrial (Q3 2026). Gates Industrial is growing faster (+6% against +4% a year earlier). Illinois Tool Works is more profitable, with an operating margin of 27.8% against 14.5%.
Where the money goes: ITW and GTES
Illinois Tool Works (ITW) · Q3 2026
Illinois Tool Works, Q3 2026: revenue $4.2B (+4% year over year), operating margin 27.8%, net earnings $855M, operating cash flow $953M. The chart follows the revenue to costs, profit and cash.
Gates Industrial (GTES) · Q3 2026
Gates Industrial, Q3 2026: revenue $904M (+6% year over year), operating margin 14.5%, net earnings $86.5M, operating cash flow $61.2M. The chart follows the revenue to costs, profit and cash.
| Illinois Tool Works (ITW) | Gates Industrial (GTES) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $4.2B | $904M |
| Revenue growth, Y/Y | +4% | +6% |
| Gross margin | — | 42.4% |
| Operating margin | 27.8% | 14.5% |
| Net earnings | $855M | $86.5M |
| Net margin | 20.2% | 9.6% |
| Operating cash flow | $953M | $61.2M |
| Free cash flow | $851M | $42.4M |
| Market value | $81.4B | $6.2B |
| P/E | 25.4× | 16.9× |
| Analysts’ mean target | $294.14 | $32.75 |
Where the revenue comes from
Gates Industrial
- Power Transmission: $560M (62%)
- Fluid Power: $344M (38%)
Questions
Which is bigger, Illinois Tool Works or Gates Industrial?
Illinois Tool Works is the larger company: $4.2B of revenue in its latest quarter (Q3 2026) against $904M for Gates Industrial (Q3 2026).
Is Illinois Tool Works or Gates Industrial growing faster?
Gates Industrial is growing faster (+6% against +4% a year earlier).
Which is more profitable, Illinois Tool Works or Gates Industrial?
Illinois Tool Works is more profitable, with an operating margin of 27.8% against 14.5%.
More: Illinois Tool Works earnings · how Illinois Tool Works makes money · Gates Industrial earnings · how Gates Industrial makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 28, 2026; 10-Q filed Oct 30, 2026). Fiscal quarters can end on different dates. Not investment advice.