IDEX vs ITT
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The short version
- ITT is the larger business, with $3.9B of revenue in fiscal 2025 against $3.5B for IDEX.
- ITT grew revenue faster (8.5%, against 5.8%).
- IDEX kept more of each dollar of sales as operating profit (20.2% operating margin, against 17.4%).
- IDEX turned more of its sales into free cash flow (17.8% FCF margin, against 13.9%).
- ITT earned a higher return on the capital invested in it (16.8%, against 10.2%).
- Investors pay more for each dollar of ITT’s earnings: a P/E of 37.2x against 33.0x for IDEX.
| Latest fiscal year | IEX · FY25 | ITT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $17.0B | $17.1B |
| Revenue | $3.5B | $3.9B |
| Free cash flow | $617M | $548M |
| Net income | $483M | $488M |
| Growth | ||
| Revenue growth | 5.8% | 8.5% |
| 5-year growth | 8.0% | 9.7% |
| Share count change | −0.8% | −2.9% |
| Profitability | ||
| Gross margin | 44.5% | 35.4% |
| Operating margin | 20.2% | 17.4% |
| Net margin | 14.0% | 12.4% |
| FCF margin | 17.8% | 13.9% |
| Return on capital | 10.2% | 16.8% |
| Return on equity | 12.4% | 14.2% |
| Balance sheet | ||
| Net debt | $1.2B | −$957M |
| Net debt / EBITDA | 1.4x | −1.2x |
| Dividends and buybacks | $460M | $632M |
| Valuation & quality | ||
| P/E | 33.0x | 37.2x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
IEX $2.1B
ITT $2.4B
FY17
IEX $2.3B
ITT $2.6B
FY18
IEX $2.5B
ITT $2.7B
FY19
IEX $2.5B
ITT $2.8B
FY20
IEX $2.4B
ITT $2.5B
FY21
IEX $2.8B
ITT $2.8B
FY22
IEX $3.2B
ITT $3.0B
FY23
IEX $3.3B
ITT $3.3B
FY24
IEX $3.3B
ITT $3.6B
FY25
IEX $3.5B
ITT $3.9B
IEX
ITT
Operating margin
FY16
IEX 19.5%
ITT 11.5%
FY17
IEX 22.0%
ITT 12.4%
FY18
IEX 22.9%
ITT 14.5%
FY19
IEX 23.2%
ITT 14.5%
FY20
IEX 22.1%
ITT 9.1%
FY21
IEX 23.0%
ITT 18.2%
FY22
IEX 23.6%
ITT 15.7%
FY23
IEX 22.4%
ITT 16.2%
FY24
IEX 20.7%
ITT 18.7%
FY25
IEX 20.2%
ITT 17.4%
IEX
ITT
Free cash flow
FY16
IEX $362M
ITT $129M
FY17
IEX $389M
ITT $134M
FY18
IEX $423M
ITT $276M
FY19
IEX $477M
ITT $266M
FY20
IEX $518M
ITT $372M
FY21
IEX $493M
ITT −$96.8M
FY22
IEX $489M
ITT $174M
FY23
IEX $627M
ITT $430M
FY24
IEX $603M
ITT $439M
FY25
IEX $617M
ITT $548M
IEX
ITT
Return on capital
FY16
IEX 14.1%
ITT 16.9%
FY17
IEX 15.8%
ITT 12.5%
FY18
IEX 18.6%
ITT 24.4%
FY19
IEX 19.0%
ITT 21.8%
FY20
IEX 16.6%
ITT 12.6%
FY21
IEX 17.3%
ITT 19.9%
FY22
IEX 16.3%
ITT 19.0%
FY23
IEX 13.6%
ITT 19.1%
FY24
IEX 11.3%
ITT 20.7%
FY25
IEX 10.2%
ITT 16.8%
IEX
ITT
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.