IDEX Corporation (IEX)
Industrials · $16.6B market cap · SEC CIK 0000832101
fundamentals score out of 100
Next reports on Oct 27, 2026, with analysts expecting $2.25 in earnings per share.
The case for IEX
- Generated $617M of free cash flow in FY2025, 18% of revenue.
- Current assets cover the near-term bills 3.0 times over.
- Pays a modest 1.3% dividend.
The case against
- Pricey at 32.0× earnings, against a long-run market average nearer 20×.
- Weakest against its peers: return on equity of 13% is lower than 76% of Industrials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 45 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 57 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 57 |
| Momentumhow the price has behaved lately | 70 |
| Stabilityhow violently it moves, what it owes and what it pays you | 57 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 32.0× |
|---|---|
| Price / book | 4.19× |
| Price / sales | 4.6× |
| Revenue growth (YoY) | +7.3% |
| EPS growth (YoY) | +12.4% |
| Gross margin | 45% |
| Operating margin | 21% |
| Net margin | 14% |
| Return on equity | 13% |
| Debt / equity | 0.46× |
| Current ratio | 3.05 |
| Dividend yield | 1.29% |
| Beta | 0.95 |
| 52-week range | $158.19 – $243.80 |
| Position in that range | 79% of the way up |
| 3-month return | -1.1% |
| 1-year return | +38.2% |
Five years of financials, as filed
Pulled from IDEX Corporation's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $3.5B | $3.3B | $3.3B | $3.2B | $2.8B |
| Gross profit | $1.5B | $1.4B | $1.4B | $1.4B | $1.2B |
| Operating income | $699M | $677M | $733M | $751M | $637M |
| Net income | $483M | $505M | $596M | $587M | $449M |
| Operating cash flow | $680M | $668M | $717M | $557M | $565M |
| Capital expenditure | $63.6M | $65.1M | $89.9M | $68.0M | $72.7M |
| Total assets | $6.9B | $6.7B | $5.9B | $5.5B | $4.9B |
| Total liabilities | $2.9B | $3.0B | $2.3B | $2.5B | $2.1B |
| Shareholder equity | $4.0B | $3.8B | $3.5B | $3.0B | $2.8B |
| Cash | $580M | $621M | $534M | $430M | $855M |
| Long-term debt | $1.8B | $1.9B | $1.3B | $1.5B | $1.2B |
| Free cash flow | $617M | $603M | $627M | $489M | $493M |
| Gross margin | 44.5% | 44.2% | 44.2% | 44.8% | 44.3% |
| Operating margin | 20.2% | 20.7% | 22.4% | 23.6% | 23.0% |
| Net margin | 14.0% | 15.4% | 18.2% | 18.4% | 16.3% |
| Diluted shares | 75.3M | 75.9M | 75.9M | 76.0M | 76.4M |
Share count is essentially flat over 4 years.
What IDEX Corporation says it does
Overview IDEX Corporation ("IDEX," the "Company," "we," or "our") is a global applied solutions provider serving niche markets with mission critical components for everyday life. Substantially all of the Company’s business activities are carried out through over 50 wholly-owned subsidiaries with shared values of Trust, Team and Excellence. IDEX’s diverse family of businesses is committed to making trusted solutions that improve lives and is innovative and inquisitive in its quest to solve customers’ most challenging applied technology problems. These businesses operate with a high degree of autonomy, yet are all united by employing The IDEX Difference, a philosophy of great teams who embrace the 8020 principle while remaining hyper-focused on serving customers. IDEX was incorporated in Delaware on September 24, 1987. End Markets and Products The following table summarizes the percentage of total IDEX sales generated by each end market…
Risk factors IEX lists in its 10-K
- Risks Related to the Company’s Operations
- The Company’s Inability to Continue to Develop New Products Could Limit Sales Growth
- The Company’s Growth Strategy Includes Acquisitions and Divestitures, and the Company May Not be Able to Make Acquisitions of Suitable Candidates, Integrate Acquisitions Successfully, or Successfully Execute Divestitures
- The Markets Served by the Company are Highly Competitive and this Competition Could Reduce Sales and Profit Margins
- The Company is Dependent on the Availability of Raw Materials, Parts and Components Used in Its Products and Changes in Supply of, or Price for, Raw Materials, Parts and Components May Materially Adversely Affect the Company
- Uncertainties with Respect to the Development, Deployment, and Use of Artificial Intelligence in Our Business and Products May Result in Harm to Our Business and Reputation
- Business Disruptions Due to Catastrophic Weather Events, Natural Disasters and Public Health Threats Could Adversely Affect the Company
- Risks Related to Economic and Political Conditions
- A Slowdown in the U.S. or International Economy Could Materially Adversely Affect the Sales and Profitability of the Company’s Businesses
- and Economic Conditions in the U.S. and Foreign Countries in Which the Company Operates Could Adversely Affect the Company
- Significant Movements in Foreign Currency Exchange Rates May Harm the Company’s Financial Results
- Fluctuations in Interest Rates Could Adversely Affect the Company’s Results of Operations and Financial Position
- A Significant or Sustained Decline in Commodity Prices, Including Oil, Could Negatively Impact the Levels of Expenditures by Certain of the Company’s Customers
- Risks Related to Legal, Accounting and Regulatory Matters