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IDEX

IEX NYSE Industrial Machinery & Supplies & Components Financials FY2016–FY2025

IDEX's revenue rose 5.8% to $3.5 billion in fiscal 2025. Its operating margin was 20.2%, down from 20.7% a year earlier. Free cash flow was $617 million, up 2.3%. It paid out $460 million in dividends and buybacks, 75% of free cash flow. The diluted share count fell 0.8%.

Last close · Oct 23, 2026

$229.05

1.0%
Value it Compare
Revenue Total sales reported in the income statement.
$3.5B
5.8% vs prior year
Operating margin Operating income as a share of revenue.
20.2%
0.5 pts
Net income Profit after all expenses, interest and tax.
$483M
4.3%
Free cash flow Cash from operations minus capital spending.
$617M
2.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
10.2%
1.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$17.0B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
33.0x
On $6.95 EPS (TTM)

What IDEX does

No business description yet.

Legal name
IDEX CORP
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000832101-26-000003
0000832101

Revenue and margins

IDEX had $3.5B of revenue in fiscal 2025, up 5.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 6.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $617M in fiscal 2025, 17.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

IDEX returned $460M to shareholders in fiscal 2025, 75% of free cash flow. The diluted share count fell 0.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value IDEX yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.2B and divides by 75.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 33.0x · peers 25.1x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably IDEX can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $855M$430M$534M$621M$580M
Debt incl. finance leases $1.2B$1.5B$1.3B$2.0B$1.8B
Net debt / EBITDA 0.5x1.2x0.9x1.6x1.4x
Debt / equity 0.4x0.5x0.4x0.5x0.5x
Interest coverage 15.5x18.5x14.2x14.3x9.7x
Current ratio 3.5x2.6x2.9x2.5x2.9x
Quick ratio 2.7x1.7x2.1x1.9x2.0x
Total assets $4.9B$5.5B$5.9B$6.7B$6.9B
Total liabilities $2.1B$2.5B$2.3B$3.0B$2.9B
Shareholders' equity $2.8B$3.0B$3.5B$3.8B$4.0B
Net debt (− = net cash) $335M$1.0B$799M$1.4B$1.2B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.1M

1 insider

Sold, 12 months

$3.4M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 12, 2026 Lisa M AndersonSVP, GC, CAO & Corp Sec Sold 385 $238.59 $0.1M Form 4
May 11, 2026 Eric D AshlemanCEO and President, Director Sold 15,385 $215.22 $3.3M Form 4
Nov 5, 2025 Carl R ChristensonDirector Bought 600 $169.41 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✕
F-score 6 / 95 / 97 / 9
Accruals ratio −2.1%−2.6%−2.9%
Altman Z'' 5.685.015.26

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
IDEX IEX $17.0B 5.8% 20.2% 17.8% 10.2% 33.0x 7
Middleby MIDD $5.1B 1.6% 18.0% 17.5% 8.7% — 4 Compare →
Carpenter Technology CRS $14.2B 8.6% 22.5% 11.6% 23.7% 25.1x 9 Compare →
Donaldson DCI $10.0B 5.3% 15.4% 11.0% 19.4% — 7 Compare →
ITT ITT $17.1B 8.5% 17.4% 13.9% 16.8% 37.2x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.1B $2.3B $2.5B $2.5B $2.4B $2.8B $3.2B $3.3B $3.3B $3.5B
Gross profit $931M $1.0B $1.1B $1.1B $1.0B $1.2B $1.4B $1.4B $1.4B $1.5B
Research and development $39.4M $42.4M $48.0M $56.4M $48.2M $50.1M $61.4M $68.4M $67.4M $70.0M
Operating income $412M $503M $569M $579M $521M $637M $751M $733M $677M $699M
Interest expense $45.6M $44.9M $44.1M $44.3M $44.8M $41.0M $40.7M $51.7M $47.4M $72.2M
Pretax income $369M $455M $529M $533M $470M $580M $749M $760M $639M $633M
Income tax $97.4M $118M $118M $107M $92.5M $131M $163M $165M $135M $150M
Net income $271M $337M $411M $426M $378M $449M $587M $596M $505M $483M
Diluted EPS $3.53 $4.36 $5.29 $5.56 $4.94 $5.88 $7.71 $7.85 $6.64 $6.41
Diluted shares 0.08B 0.08B 0.08B 0.08B 0.08B 0.08B 0.08B 0.08B 0.08B 0.08B
Cash flow
Cash from operations $400M $433M $479M $528M $569M $565M $557M $717M $668M $680M
Capital expenditure $38.2M $43.9M $56.1M $50.9M $51.6M $72.7M $68.0M $89.9M $65.1M $63.6M
Free cash flow $362M $389M $423M $477M $518M $493M $489M $627M $603M $617M
Depreciation and amortization $86.9M $84.2M $77.5M $76.9M $83.5M $103M $120M $152M $176M $207M
Stock-based compensation $20.3M $24.4M $24.8M $22.1M $14.8M $20.4M $21.6M $21.8M $25.8M $27.3M
Acquisitions $510M $38.2M $20.2M $87.2M $123M $577M $946M $312M $985M $76.2M
Share buybacks $57.3M $29.1M $174M $54.7M $110M $0.0M $148M $24.2M $0.0M $248M
Dividends paid $103M $111M $128M $147M $152M $161M $177M $191M $205M $213M
Dividends and buybacks $160M $140M $301M $202M $262M $161M $326M $215M $205M $460M
Balance sheet
Cash and short-term investments $236M $376M $466M $633M $1.0B $855M $430M $534M $621M $580M
Total debt $1.0B $862M $852M $850M $1.0B $1.2B $1.5B $1.3B $2.0B $1.8B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $823M $1.0B $1.1B $1.3B $1.7B $1.7B $1.4B $1.4B $1.6B $1.6B
Current liabilities $309M $361M $365M $358M $399M $480M $544M $500M $630M $575M
Inventory $253M $260M $280M $294M $290M $370M $471M $421M $430M $479M
Property and equipment, net $248M $258M $281M $280M $298M $327M $382M $430M $460M $468M
Total assets $3.2B $3.4B $3.5B $3.8B $4.4B $4.9B $5.5B $5.9B $6.7B $6.9B
Total liabilities $1.6B $1.5B $1.5B $1.6B $1.9B $2.1B $2.5B $2.3B $3.0B $2.9B
Shareholders' equity $1.5B $1.9B $2.0B $2.3B $2.5B $2.8B $3.0B $3.5B $3.8B $4.0B
Margins
Gross margin 44.1% 44.9% 45.0% 45.1% 43.7% 44.3% 44.8% 44.2% 44.2% 44.5%
Operating margin 19.5% 22.0% 22.9% 23.2% 22.1% 23.0% 23.6% 22.4% 20.7% 20.2%
EBITDA margin 23.6% 25.7% 26.0% 26.3% 25.7% 26.8% 27.4% 27.0% 26.1% 26.2%
Net margin 12.8% 14.7% 16.5% 17.1% 16.1% 16.3% 18.4% 18.2% 15.5% 14.0%
FCF margin 17.1% 17.0% 17.0% 19.1% 22.0% 17.8% 15.4% 19.2% 18.5% 17.8%
Returns
Return on capital 14.1% 15.8% 18.6% 19.0% 16.6% 17.3% 16.3% 13.6% 11.3% 10.2%
Return on capital employed 15.4% 17.1% 18.5% 17.6% 13.9% 15.1% 16.0% 14.2% 11.8% 11.2%
Return on equity 18.2% 19.7% 21.2% 20.0% 15.7% 16.8% 20.1% 18.1% 13.8% 12.4%
Return on assets 9.1% 10.3% 12.0% 11.7% 9.2% 9.6% 11.3% 10.5% 8.0% 7.1%
Growth
Revenue growth 4.6% 8.3% 8.6% 0.4% −5.7% 17.6% 15.1% 2.9% −0.2% 5.8%
Net income growth −4.1% 24.4% 21.7% 3.6% −11.2% 19.0% 30.6% 1.6% −15.3% −4.3%
EPS growth −2.5% 23.5% 21.3% 5.1% −11.2% 19.0% 31.1% 1.8% −15.4% −3.5%
FCF growth 14.3% 7.5% 8.8% 12.8% 8.5% −4.9% −0.7% 28.1% −3.8% 2.3%
Share count change −1.6% 0.8% 0.3% −1.4% −0.1% 0.0% −0.5% −0.1% 0.0% −0.8%
Financial health
Net debt / EBITDA 1.6x 0.8x 0.6x 0.3x 0.0x 0.5x 1.2x 0.9x 1.6x 1.4x
Debt / equity 0.7x 0.5x 0.4x 0.4x 0.4x 0.4x 0.5x 0.4x 0.5x 0.5x
Interest coverage 9.0x 11.2x 12.9x 13.1x 11.6x 15.5x 18.5x 14.2x 14.3x 9.7x
Current ratio 2.7x 2.8x 3.0x 3.5x 4.2x 3.5x 2.6x 2.9x 2.5x 2.9x
Quick ratio 1.8x 2.1x 2.2x 2.7x 3.4x 2.7x 1.7x 2.1x 1.9x 2.0x
Capital allocation
Capex / revenue 1.8% 1.9% 2.3% 2.0% 2.2% 2.6% 2.1% 2.8% 2.0% 1.8%
Stock comp / revenue 1.0% 1.1% 1.0% 0.9% 0.6% 0.7% 0.7% 0.7% 0.8% 0.8%
Payouts / FCF 44.2% 36.1% 71.2% 42.3% 50.6% 32.7% 66.5% 34.3% 34.1% 74.6%
Quality scores
Piotroski F-score 5.0 7.0 8.0 8.0 5.0 7.0 6.0 6.0 5.0 7.0
Altman Z'' 4.9 5.5 6.1 6.3 6.2 5.9 5.3 5.7 5.0 5.3
Accruals ratio −4.3% −2.9% −2.0% −2.8% −4.7% −2.5% 0.6% −2.1% −2.6% −2.9%

Source: SEC EDGAR XBRL filings (CIK 0000832101). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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