Idex Corp (IEX)
Industrials · Industrial Machinery & Supplies & Components · US stock · S&P 500 component
$226.88
▼ -8.55 (3.63%)
Fair valueFair
$195 −14.0% to fair value
$98fair band $166–$236$293
Day's range
$223.24 – $233.39
52-week range
$160.60 – $243.80
About Idex Corp
IDEX makes specialised engineered products that control and move fluids, and related equipment. Its range includes pumps, flow meters, dispensing systems, valves and precision components for the life sciences, chemical, food and water industries, as well as rescue tools and equipment for fire departments. Customers are mostly industrial and scientific businesses. It operates through a group of niche businesses organised into fluid and metering, health and science, and fire and safety segments.
The company earns money from the equipment and replacement parts it supplies, with products designed into customers' own machines and processes. Sales were $3.6 billion over the last twelve months, with growth of 2.8% a year across the last three years. The operating margin is 20.7%, and the business earns a profit of 11% on the capital invested in it. Net debt is 1.7 times EBITDA. It pays a dividend with a yield of 1.3%. On the site's X-Ray Score it receives 49 out of 100.
Price chart
52-wk range $160.60 – $243.80Volume 961,647Daily, split-adjusted
Vitals
Market cap$16.8B
52-week range$160.60 – $243.80
Volume (last day)961,647
P/E (TTM)32.7
EBIT / EV yield4.1%
Free-cash-flow yield3.8%
Dividend yield1.3%
Revenue (TTM)$3.6B
Net income (TTM)$520M
Operating margin20.7%
Return on capital10.8%
Debt incl. leases$1.9B
Cash & securities$621M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$195middle half of models $182 – $223
Fair
−14.0% to fair value
Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $227
Undervalued < $166Fair $166 – $236Overvalued > $236
P/E multiple
$223
P/B multiple
$237
P/S multiple
$223
EV/EBITDA multiple
$207
EV/EBIT multiple
$216
EV/revenue multiple
$224
10-year DCF, EBITDA exit
$210
5-year DCF, EBITDA exit
$221
10-year DCF, revenue exit
$212
5-year DCF, revenue exit
$226
10-year DCF, growth exit
$129
5-year DCF, growth exit
$124
Dividend discount, stable
$111
Dividend discount, multi-stage
$197
Earnings power value
$167
Growth the price implies
19.2%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
35/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield4.1%
Free-cash-flow yield3.8%
Fair value vs price0.9×
Growth
Weak
37/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)2.8%
EPS growth (3y)-6.0%
Growth consistency80%
Profitability
Weak
47/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital10.8%
Operating margin20.7%
Gross profitability23.1%
Financial health
Strong
77/100
Balance sheet looks strong: debt is well covered.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA1.7×
Interest coverNo interest cost
Dividends
Fair
53/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.3%
Dividends vs free cash flow34%
Dividend growth6.2%
Quarterly results: last 6 quarters
+1.7%
Mar '25
+7.2%
Jun '25
+10.1%
Sep '25
+4.2%
Dec '25
+8.9%
Mar '26
+6.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $921M, diluted EPS $1.93.
Compare with peers
SNA Snap-on Inc66 PNR PENTAIR plc62 XYL Xylem Inc.55 GWW W.W. Grainger, Inc.55Other Industrial Machinery & Supplies & Components companies by X-Ray Score.
SWOT analysis: Idex Corp
Strengthsinside the company
- Operating profit covers interest 50x, so debt costs are a small drag.
- Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- Earnings per share have declined 6.0% a year over three years.
Opportunitiesvaluation and setting
- Dividends use only 34% of free cash flow, which leaves room to raise them.
Threatsvaluation and setting
- No specific threat is flagged by our checks; general market and interest-rate risk still applies.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare IEX with peers and sector
Medians of 13 Industrial Machinery & Supplies & Components peers and of 80 Industrials stocks in our universe.
Largest peers (X-Ray Score): PH 50, ITW 46, GWW 55, IR 47, OTIS 55, DOV 49.
| Metric | IEX | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 49 | 50 | 51 |
| Valuation | 35 | 57 | 48 |
| Growth | 37 | 40 | 51 |
| Profitability | 47 | 51 | 51 |
| Financial health | 77 | 47 | 49 |
| Dividends | 53 | 55 | 53 |
Sector leaders: highest X-Ray Score in Industrials
IEX ranks #49 of 81 in Industrials and #9 of 14 in Industrial Machinery & Supplies & Components by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for IEX
Each factor is rated by where IEX stands among the 81 Industrials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 7 Good · 10 Average · 6 Bad of 23
Growth: 0 · 2 · 1
Profitability: 2 · 1 · 2
Financial strength: 3 · 1 · 0
Valuation: 1 · 2 · 2
Cash flow: 1 · 2 · 1
Efficiency: 0 · 2 · 0
| Factor | IEX | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +2.8% | Average beats 36% | +5.6% | – | – |
| Revenue growth, last year | +5.8% | Average beats 58% | +4.5% | +5.8% | ≈ In line |
| EPS growth, 3 years a year | −6.0% | Bad beats 22% | +5.7% | – | – |
| Profitability | |||||
| Gross margin | 44.7% | Good beats 71% | 38.0% | 44.3% | ≈ In line |
| Operating margin | 20.7% | Good beats 73% | 17.5% | 22.4% | ≈ In line |
| Net margin | 14.5% | Average beats 61% | 12.8% | 16.3% | ▼ Worse |
| Return on invested capital | 10.8% | Bad beats 25% | 14.9% | – | – |
| Return on equity | 13.0% | Bad beats 25% | 23.7% | 16.0% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 1.7x | Average beats 53% | 1.8x | 1.2x | ▼ Worse |
| Interest cover | 50.0x | Good beats 76% | 21.4x | 15.5x | ▲ Better |
| Current ratio | 3.05 | Good beats 94% | 1.25 | 2.86 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 86% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 32.4x | Average beats 35% | 28.9x | 29.6x | ≈ In line |
| Price / book | 4.2x | Good beats 68% | 6.2x | 4.7x | ≈ In line |
| Price / sales | 4.7x | Bad beats 31% | 3.5x | 5.0x | ≈ In line |
| EV / EBITDA | 24.4x | Bad beats 19% | 18.5x | 21.1x | ▼ Worse |
| Free cash flow yield | 3.8% | Average beats 47% | 3.8% | 3.8% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 17.9% | Good beats 72% | 13.8% | 17.8% | ≈ In line |
| Cash from operations / net income | 1.38 | Average beats 48% | 1.39 | 1.26 | ≈ In line |
| Free cash flow growth, 3 years a year | +8.0% | Bad beats 27% | +14.5% | – | – |
| Accruals (lower is better) | −2.8% | Average beats 44% | −3.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 3.8x | Average beats 46% | 4.0x | 4.2x | ≈ In line |
| Days sales outstanding | 55 days | Average beats 53% | 57 days | 49 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 7 Average · ● 4 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldAverage
Profitability
Return on invested capitalBad
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $2.8B | $3.2B | $3.3B | $3.3B | $3.5B |
| Operating income | $637M | $751M | $733M | $677M | $699M |
| Net income | $449M | $587M | $596M | $505M | $483M |
| Operating cash flow | $565M | $557M | $717M | $668M | $680M |
| Operating margin | 23.0% | 23.6% | 22.4% | 20.7% | 20.2% |
| Free cash flow | $493M | $489M | $627M | $603M | $617M |
| Diluted EPS | $5.88 | $7.71 | $7.85 | $6.64 | $6.41 |
Fiscal years, from SEC filings.
Technical summary
Daily
Neutral
6 bullish · 3 neutral · 7 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 234.7 | Bearish |
| EMA 10 | 233.2 | Bearish |
| SMA 20 | 233.1 | Bearish |
| EMA 20 | 232.5 | Bearish |
| SMA 50 | 229.9 | Bearish |
| EMA 50 | 229.9 | Bearish |
| SMA 100 | 226.8 | Bullish |
| EMA 100 | 224.8 | Bullish |
| SMA 200 | 213.4 | Bullish |
| EMA 200 | 214.4 | Bullish |
Oscillators (daily)
| RSI (14) | 41.79 | Neutral |
| MACD (12, 26) | 1.31 | Bullish |
| Momentum (12) | -3.98 | Bearish |
| Stochastic %K (14) | 20.16 | Neutral |
| Williams %R (14) | -79.84 | Neutral |
| CCI (20) | -127.8 | Bullish |
Pivot points (classic, last session)
S3 212.1 | S2 217.7 | S1 222.3 | Pivot 227.8 | R1 232.4 | R2 238.0 | R3 242.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.90 USD
Yield on today's price
1.28%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 0.7300 | |
| 0.7300 | |
| 0.7300 | |
| 0.7100 | |
| 0.7100 | |
| 0.7100 | |
| 0.7100 | |
| 0.6900 | |
| 0.6900 | |
| 0.6900 | |
| 0.6900 | |
| 0.6400 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold IEX
| ETF | Share of the fund |
|---|---|
| PHO Invesco Water Resources | 3.67% |
| RSPN Invesco S&P 500 Equal Weight Industria... | 1.27% |
| PAVE Global X U.S. Infrastructure Developme... | 0.85% |
| FVD First Trust Value Line Dividend Index | 0.39% |
| FMDE Fidelity Enhanced Mid Cap | 0.37% |
| VBR Vanguard Small-Cap Value | 0.36% |
| TMSL T. Rowe Price Small-Mid Cap | 0.31% |
| SCHM Schwab U.S. Mid-Cap | 0.29% |
The eight funds with the largest weight in IEX among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
IEX stock splits
IEX has split its stock 4 times since 1995. The latest was a 3-for-2 split on 22 May 2007.
Full IEX stock split history →IEX SEC filings
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Director or officer change
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.