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IDEX Corporation

IEX Industrials Specialty Industrial Machinery

IDEX Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.5 billion, up 5.77% from fiscal 2024.

Revenue
+8.31%
EPS
+14.9%
Free cash flow
+13.6%
Total debt
−7.93%

Quarter to September 2026, against a year earlier

222.34 11.35 −4.86%
Market cap
$16.4B
P/E
30.8×
Fwd P/E
31.3×
Dividend yield
1.30%
F-score
7/9
Altman Z
4.70
Beneish M
−2.51
Dividend safety
91/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Health & Science Technologies
  • Fluid & Metering Technologies
  • Fire & Safety/Diversified Products

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 3.40
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — 1 — — 1 — — —
Insider Ownership 0.58%

Capital & Financial Ratios $m

Size
Market Cap 16,350.00
Revenue ttm 3,658.30
Net income ttm 535.60
Free cash flow ttm 667.10
Net debt Q 1,149.40
Valuation
P/E 30.78
Forward P/E 31.30
Price / sales 4.48
Forward P/S Powerpack
Price / FCF 24.56
Price / book 4.08
Financial health
Current ratio Q 2.78 (at or above 1.5: strong)
Debt / equity Q 0.44 (at or below 0.5: strong)
Interest coverage Q 13.51
Growth
Revenue growth Q +8.31% (above 0%: growing)
Operating income growth Q +11.95% (above 0%: growing)
EPS, this year +12.46%
EPS, next year A +9.68%
Revenue, next year A +7.65%
EPS, past 5 yrs +5.35%
EPS, next 5 yrs A +9.85%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.8×, against a ten-year median of 5.0×; over the ten years it ranged from 3.0× in 2016 to 7.1× in 2021.
P/E against its own 10 years 65.97%
10-year low 10-year high
P/S against its own 10 years 34.95%
10-year low 10-year high
P/B against its own 10 years 15.36%
10-year low 10-year high
EV/Sales against its own 10 years 39.09%
10-year low 10-year high
EV/FCF against its own 10 years 36.38%
10-year low 10-year high

Dividends raised every year since 2018

Yield
1.30%
Annual rate
2.90
Payout ratio
40.3%
Growth, 2018–26
+7.22%/yr
  1. 1.66 ’18
  2. 1.93 ’19 +16
  3. 2.00 ’20 +4
  4. 2.12 ’21 +6
  5. 2.34 ’22 +10
  6. 2.52 ’23 +8
  7. 2.71 ’24 +8
  8. 2.82 ’25 +4
  9. 2.90 ’26 +3
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 534 621 580 602
Receivables 428 466 522 549
Inventory 421 430 479 529
Other 63 76 62 87
1,446 1,593 1,643 1,767
2023 2024 2025 Q'26
Payables 180 198 225 238
ST’ Debt 1 101 1 0
Other — — — —
500 630 575 636

Compound Annual Growth %

10y 5y 3y
Sales 5.52% 8.01% 2.81%
Cash Flow 6.56% 3.63% 6.87%
Earnings 5.50% 5.04% (6.28%)
Book Value 10.80% 9.65% 9.82%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.23 Actual 2.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 2.04 2.10 Beat by 0.06
Q1 FY26 1.78 2.00 Beat by 0.22
Q2 FY26 2.10 2.32 Beat by 0.22
Q3 FY26 2.23 2.33 Beat by 0.10
Q4 FY26 2.29 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 1.61 1.93 1.95 — —
’25 1.26 1.74 1.70 1.71 6.41
’24 1.60 1.86 1.57 1.62 6.64
’23 1.84 1.82 2.75 1.43 7.85
’22 1.83 1.81 2.36 1.71 7.71
’21 1.48 1.34 1.51 1.55 5.88
’20 1.33 0.93 1.37 1.32 4.94
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 887 921 952 — —
’25 814 865 879 899 3,458
’24 801 807 798 863 3,269
’23 845 846 793 789 3,274
’22 751 796 824 811 3,182
’21 652 686 712 715 2,765
’20 594 561 581 615 2,352
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 104 200 240 — —
’25 106 162 204 210 680
’24 157 134 205 173 668
’23 148 141 227 201 717
’22 80 112 198 167 557
’21 109 136 157 163 565
’20 85 169 154 161 569
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 86 177 214 — —
’25 91 147 189 190 617
’24 137 118 192 157 603
’23 121 120 207 179 627
’22 70 97 175 147 489
’21 95 120 142 136 493
’20 72 163 135 147 518
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 10.0% a year for ten years. It grew 6.9% a year over the last ten.

Implied
10.0%
10 years, reported
6.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,113 2,287 2,484 2,495 2,352 2,765 3,182 3,274 3,269 3,458 3,658 +5.6% 3,722 3,942 4,166 +6.4%
Gross margin, % 44.05 44.89 45.01 45.10 43.69 44.29 44.84 44.19 44.21 44.51 44.87 +0.5 pt
EBT 369 455 529 533 470 580 749 760 639 633 704 +6.2%
EBT margin, % 17.44 19.90 21.30 21.36 20.00 20.97 23.55 23.22 19.56 18.30 19.23 +0.9 pt
Net income 271 337 411 426 378 449 587 596 505 483 536 +6.6%
Per share, $
Per share, $ Revenue 27.88 30.00 32.50 33.00 31.06 36.38 42.03 43.31 43.18 45.92 49.64 +5.7%
Earnings 3.57 4.41 5.36 5.62 4.98 5.91 7.74 7.87 6.66 6.41 7.22 +6.7%
Cash flow 5.28 5.68 6.27 6.99 7.52 7.44 7.36 9.48 8.83 9.04 10.21 +6.2%
Capex (0.50) (0.50) (0.78) (0.67) (0.68) (0.96) (0.90) (1.19) (0.86) (0.84) (1.16) +5.9%
Free cash flow 4.77 5.18 5.49 6.31 6.84 6.48 6.47 8.29 7.97 8.19 9.05 +6.2%
Book value 20.37 24.75 26.10 29.94 33.56 36.88 40.15 46.84 50.12 53.47 54.48 +11.3%
Shares, m 76 76 76 76 76 76 76 76 76 75 74 (0.1%)
Valuation, ×
Valuation, × P/E 25.55 29.86 23.51 30.55 39.84 40.05 29.61 27.33 31.47 27.72 30.78 30.5
P/S 3.27 4.39 3.88 5.21 6.41 6.50 5.46 4.97 4.85 3.88 4.48 4.9
P/B 4.48 5.32 4.84 5.75 5.94 6.41 5.72 4.59 4.18 3.33 4.08 5.1
EV/Sales 3.64 4.60 4.04 5.30 6.42 6.62 5.79 5.21 5.26 4.23 4.79 5.1
EV/FCF 21.27 26.64 23.68 27.70 29.16 37.18 37.66 27.20 28.50 23.73 26.29 28.3
Cash, $m
Cash, $m Operating cash flow 400 433 479 528 569 565 557 717 668 680 753 +6.1%
Capex (38) (38) (60) (51) (52) (73) (68) (90) (65) (64) (86) +5.8%
Free cash flow 362 395 420 477 518 493 489 627 603 617 667 +6.1%
Balance, $m
Balance, $m Working capital 514 643 728 904 1,258 1,198 856 946 963 1,068 1,131 +8.5%
Net debt 779 483 382 217 19 353 1,061 791 1,339 1,241 1,149 +5.3%
Shareholders’ equity 1,544 1,887 1,995 2,263 2,540 2,803 3,040 3,541 3,794 4,026 4,015 +11.2%
Returns, %
Returns, % ROA 9.10 10.29 11.95 11.68 9.18 9.63 11.26 10.48 8.01 7.07 7.74 (2.0) pt
ROIC 11.09 13.26 14.96 14.59 12.72 12.61 11.45 10.57 8.24 8.30 9.24 (2.8) pt
ROE 18.15 19.66 21.16 19.99 15.73 16.82 20.09 18.12 13.77 12.36 13.35 (5.8) pt
People
People Employees 7,158 7,167 7,352 7,439 7,075 7,536 8,868 8,800 9,000 8,700 — +2.2%
Revenue/emp, $m 0.30 0.32 0.34 0.34 0.33 0.37 0.36 0.37 0.36 0.40 — +3.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

IDEX Corporation makes specialized components and systems used to move, measure, filter and control fluids and gases, as well as products for optical, fire and safety applications. Its customers include equipment manufacturers, industrial businesses, municipalities and fire and rescue organizations. The company was founded in 1988 and is headquartered in Lake Forest. Eric D. Ashleman is its president and chief executive officer.

The business has three segments. Health & Science Technologies makes products such as precision fluid-handling components, optical components, seals and processing equipment. These are used in applications ranging from medical devices and laboratory instruments to semiconductor production and aerospace. Fluid & Metering Technologies makes pumps, valves, meters and monitoring systems for markets including water, chemicals, energy and agriculture.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Health & Science Technologies 1,491 43.11%
Fluid & Metering Technologies 1,223 35.36%
Fire & Safety/Diversified Products 744 21.53%
Gross margin 44.51%
Operating margin 20.23%
Pre-tax margin 18.30%

Revenue by segment since 2009

IDEX Corporation vs peers in Specialty Industrial Machinery (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
XYL Xylem Inc. $22.9B 22.1× 21.3× −2.95% (below 0%: shrinking) +33.08% (above 0%: growing) −16.49% (below 0%: shrinking) 41.21% 17.49% Compare
SYM Symbotic Inc. $21.2B 354× 220× +21.74% (above 0%: growing) n/m +22.12% (above 0%: growing) 22.32% 4.56% Compare
ITT ITT Inc. $17.5B 40.5× 43.4× +44.19% (above 0%: growing) −15.34% (below 0%: shrinking) +93.91% (above 0%: growing) 0.00% 0.00% Compare
NDSN Nordson Corporation $17.3B 31.3× 31.5× +10.27% (above 0%: growing) +22.87% (above 0%: growing) +4.57% (above 0%: growing) 55.49% 27.28% Compare
IEX IDEX Corporation $16.4B 30.8× 31.3× +8.31% (above 0%: growing) +14.94% (above 0%: growing) +13.57% (above 0%: growing) 45.13% 21.86%
WTS Watts Water Technologies, Inc. $11.6B 26.0× 28.0× +19.01% (above 0%: growing) +77.14% (above 0%: growing) +18.94% (above 0%: growing) 55.08% 26.21% Compare
CR Crane Company $11.4B 33.5× 31.3× +28.07% (above 0%: growing) +7.91% (above 0%: growing) −0.43% (below 0%: shrinking) 41.69% 18.63% Compare
PNR Pentair plc $11.1B 18.4× 17.5× −4.46% (below 0%: shrinking) −19.55% (below 0%: shrinking) −14.65% (below 0%: shrinking) 40.48% 20.06% Compare
RRX Regal Rexnord Corporation $10.7B 46.2× 27.7× +6.08% (above 0%: growing) n/m +11.74% (above 0%: growing) 37.17% 5.13% Compare
Median of peers $14.4B 32.4× 29.7× +14.64% +15.39% +8.16% 40.85% 18.06%

All 79 Specialty Industrial Machinery stocks →

From the latest earnings call

Updated

  • CEO Eric Ashleman said demand was broadening across industrial businesses, while large data-center orders can arrive in unpredictable tranches.
  • CFO Sean Gillen said higher volumes drove third-quarter growth and IDEX raised its full-year outlook after results exceeded its guidance.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 100.73%
Held by the ten largest 46.02%
Holder Shares Stake Change
Vanguard 9.33m 12.65% −42.30k
BlackRock 5.73m 7.78% +58.08k
State Street 3.32m 4.50% +112.00k
PRIMECAP Management 3.30m 4.48% −2.86k
Morgan Stanley 2.82m 3.82% −279.66k
Millennium Management 2.37m 3.21% +373.89k
Geode Capital Management 2.10m 2.85% +7.04k
Nordea Investment Management 1.84m 2.50% −31.32k
UBS 1.59m 2.16% +227.28k
Victory Capital 1.53m 2.07% +14.35k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 26 March 2026

Ownership

Directors and executive officers, together 0.50%
The Vanguard Group 12.40%
Wellington Management Group LLP 8.40%
BlackRock Inc. 8.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

IDEX Corporation (IEX) Latest News

3 Nov

Impact 3 · · StockStory

31 Oct

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29 Oct

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28 Oct

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Impact 3 · · Associated Press
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27 Oct

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26 Oct

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28 Sep

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22 Sep

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16 Aug

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7 Aug

Impact 3 · · The Motley Fool transcript

2 Aug

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1 Aug

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30 Jul

Impact 4 ·
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29 Jul

Impact 4 ·
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Impact 4 · · InvestorsHub
Impact 3 · · Moby transcript
Impact 3 ·

IEX metrics, ten years each

stockrow.com/IEX · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com