Donaldson
DCI · Industrial Machinery & Supplies & Components
$84.79
1.5%IDEX
IEX · Industrial Machinery & Supplies & Components
$229.05
1.0%The short version
- Donaldson is the larger business, with $3.9B of revenue in fiscal 2026 against $3.5B for IDEX.
- IDEX kept more of each dollar of sales as operating profit (20.2% operating margin, against 15.4% operating margin).
- IDEX turned more of its sales into free cash flow (17.8% FCF margin, against 11.0% FCF margin).
- Donaldson earned a higher return on the capital invested in it (19.4%, against 10.2%).
- Investors pay more for each dollar of IDEX’s earnings: a P/E of 33.0x against 22.0x for Donaldson.
| Latest fiscal year | DCI · FY26 | IEX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.0B | $17.0B |
| Revenue | $3.9B | $3.5B |
| Free cash flow | $426M | $617M |
| Net income | $454M | $483M |
| Growth | ||
| Revenue growth | 5.3% | 5.8% |
| 5-year growth | 6.4% | 8.0% |
| Share count change | −2.1% | −0.8% |
| Profitability | ||
| Gross margin | 34.6% | 44.5% |
| Operating margin | 15.4% | 20.2% |
| Net margin | 11.7% | 14.0% |
| FCF margin | 11.0% | 17.8% |
| Return on capital | 19.4% | 10.2% |
| Return on equity | 28.2% | 12.4% |
| Balance sheet | ||
| Net debt | $1.1B | $1.2B |
| Net debt / EBITDA | 1.5x | 1.4x |
| Dividends and buybacks | $252M | $460M |
| Valuation & quality | ||
| P/E | 22.0x | 33.0x |
| Piotroski F-score | 7 | 7 |
FY17
DCI $2.4B
IEX $2.3B
FY18
DCI $2.7B
IEX $2.5B
FY19
DCI $2.8B
IEX $2.5B
FY20
DCI $2.6B
IEX $2.4B
FY21
DCI $2.9B
IEX $2.8B
FY22
DCI $3.3B
IEX $3.2B
FY23
DCI $3.4B
IEX $3.3B
FY24
DCI $3.6B
IEX $3.3B
FY25
DCI $3.7B
IEX $3.5B
FY26
DCI $3.9B
IEX —
DCI
IEX
FY17
DCI 13.6%
IEX 22.0%
FY18
DCI 13.8%
IEX 22.9%
FY19
DCI 13.7%
IEX 23.2%
FY20
DCI 13.2%
IEX 22.1%
FY21
DCI 13.5%
IEX 23.0%
FY22
DCI 13.4%
IEX 23.6%
FY23
DCI 14.0%
IEX 22.4%
FY24
DCI 15.2%
IEX 20.7%
FY25
DCI 13.4%
IEX 20.2%
FY26
DCI 15.4%
IEX —
DCI
IEX
FY17
DCI $252M
IEX $389M
FY18
DCI $165M
IEX $423M
FY19
DCI $195M
IEX $477M
FY20
DCI $263M
IEX $518M
FY21
DCI $343M
IEX $493M
FY22
DCI $167M
IEX $489M
FY23
DCI $426M
IEX $627M
FY24
DCI $407M
IEX $603M
FY25
DCI $340M
IEX $617M
FY26
DCI $426M
IEX —
DCI
IEX
FY17
DCI 20.8%
IEX 15.8%
FY18
DCI 16.0%
IEX 18.6%
FY19
DCI 21.7%
IEX 19.0%
FY20
DCI 19.1%
IEX 16.6%
FY21
DCI 20.6%
IEX 17.3%
FY22
DCI 22.3%
IEX 16.3%
FY23
DCI 21.7%
IEX 13.6%
FY24
DCI 23.5%
IEX 11.3%
FY25
DCI 19.8%
IEX 10.2%
FY26
DCI 19.4%
IEX —
DCI
IEX
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.