Idex Corporation (IEX)
NYSE:IEX
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IDEX
(NYSE:IEX)
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Rating:77Outperform
Price Target:
$214.00
▲(11.67% Upside)
Action:ReiteratedDate:02/05/26
The score is driven primarily by strong financial quality (high cash generation and a near-zero-debt balance sheet). Earnings call commentary supports a steady, cash-rich outlook led by HST, but overall growth guidance is modest and some segments remain soft. Technicals are strong but overbought, and valuation is the main headwind with a high P/E and only a modest dividend yield.
Positive Factors
Balance Sheet Strength
Near-zero debt and a materially de‑risked balance sheet provide durable financial flexibility. This reduces refinancing and interest risk, supports consistent capital returns, enables bolt‑on M&A, and cushions the business through cyclical industrial soft patches over the next several quarters.
Negative Factors
Margin Compression vs Prior Periods
Sustained margin compression and lower net income versus prior peaks indicate weaker operating leverage and mix shifts. If volumes remain soft, pricing/productivity gains may not fully offset deleverage, pressuring returns and long‑term EPS growth potential.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Near-zero debt and a materially de‑risked balance sheet provide durable financial flexibility. This reduces refinancing and interest risk, supports consistent capital returns, enables bolt‑on M&A, and cushions the business through cyclical industrial soft patches over the next several quarters.
Read all positive factors
IDEX (IEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.25B
Dividend Yield1.56%
Average Volume (3M)825.64K
Price to Earnings (P/E)25.9
Beta (1Y)0.98
Revenue Growth7.09%
EPS Growth-2.29%
CountryUS
Employees9,000
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)2.10
Shares Outstanding74,347,824
10 Day Avg. Volume1,122,050
30 Day Avg. Volume825,645
Financial Highlights & Ratios
PEG Ratio-7.11
Price to Book (P/B)3.33
Price to Sales (P/S)3.88
P/FCF Ratio21.72
Enterprise Value/Market Cap1.09
Enterprise Value/Revenue4.51
Enterprise Value/Gross Profit10.13
Enterprise Value/Ebitda17.25
Forecast
1Y Price Target
$237.00Price Target Upside23.68% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)8.26
Revenue Forecast (FY)$3.56B
IDEX Business Overview & Revenue Model
Company Description
IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (...
How the Company Makes Money
IDEX makes money primarily by selling engineered products—such as pumps, valves, flow meters, precision fluidics components, and dispensing/measurement systems—to OEMs, distributors, and end users across industrial and life science-related markets...
IDEX Key Performance Indicators (KPIs)
IDEX Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 28, 2026
Earnings Call Sentiment Neutral
The call highlights clear, concentrated strength: HST delivered robust order momentum (organic orders +34% in Q4), backlog expansion and margin improvement, alongside solid cash generation ($617M FCF) and disciplined capital returns (nearly $250M repurchases, $213M dividends). However, that positive performance sits alongside persistent softness in other core industrial end markets—particularly within FMT (chemical, energy, ag) and FSDP (outside U.S. and dispensing)—volume deleverage/mix headwinds, and a conservative companywide growth outlook (FY2026 organic ~1–2%). Management expects to continue investing in growth platforms and bolt‑on M&A while allowing some temporary cost savings to be redeployed. Overall, the results show strong execution in targeted growth areas and excellent cash/return metrics, but balanced by mixed end‑market dynamics and modest aggregated growth guidance.Positive Updates
HST Orders and Backlog Momentum
HST delivered strong demand with organic orders up ~34% in Q4, record quarterly orders of ~$493M, a year‑over‑year backlog build of over ~$100M and revenue growth in the segment (reported ~+5% in remarks). HST adjusted EBITDA margin expanded ~60 basis points year‑over‑year driven by price, cost and productivity.
Negative Updates
Softness in FMT (Chemical, Energy, Agriculture)
FMT saw mixed demand: organic orders +4% and organic sales +1% in the quarter, but the segment faces pronounced softness in chemical, oil & gas and agricultural end markets (which represent >30% of FMT). FMT's adjusted EBITDA margin declined ~20 basis points YoY due to volume deleverage, higher employee costs and unfavorable mix.
Read all updates
Q4-2025 Updates
Positive
Negative
HST Orders and Backlog Momentum
HST delivered strong demand with organic orders up ~34% in Q4, record quarterly orders of ~$493M, a year‑over‑year backlog build of over ~$100M and revenue growth in the segment (reported ~+5% in remarks). HST adjusted EBITDA margin expanded ~60 basis points year‑over‑year driven by price, cost and productivity.
Read all positive updates
Company Guidance
IDEX guided fiscal 2026 organic revenue growth of 1–2%, driven by mid‑single‑digit growth at HST offset by flat to slightly down outlooks for FMT and FSDP; full‑year adjusted EBITDA margin was guided to 26–27% (with ~50 bps of margin expansion expected at HST), adjusted EPS of $8.15–$8.35 (low‑ to mid‑single‑digit y/y growth), an effective tax rate of ~24%, and an expected price contribution of roughly 1–2%; they noted Q1 is seasonally soft and gave a Q1 outlook of ~1% organic growth, ~24.5% adjusted EBITDA margin and adjusted EPS of $1.73–$1.78, while capital allocation priorities include dividends at 30–35% of adjusted net income, a base repurchase cadence near ~$75M/quarter, continued tuck‑in M&A, and a free cash flow conversion target of at least 100%.IDEX Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.46B | 3.27B | 3.27B | 3.18B | 2.76B |
| Gross Profit | 1.54B | 1.52B | 1.62B | 1.59B | 1.36B |
| EBITDA | 903.50M | 859.40M | 964.10M | 909.80M | 720.50M |
| Net Income | 483.20M | 505.00M | 596.10M | 586.90M | 449.40M |
Balance Sheet | |||||
| Total Assets | 6.93B | 6.75B | 5.87B | 5.51B | 4.92B |
| Cash, Cash Equivalents and Short-Term Investments | 580.00M | 620.80M | 534.30M | 430.20M | 900.70M |
| Total Debt | 1.82B | 1.99B | 1.45B | 1.59B | 1.30B |
| Total Liabilities | 2.90B | 2.95B | 2.32B | 2.47B | 2.11B |
| Stockholders Equity | 4.03B | 3.79B | 3.54B | 3.04B | 2.80B |
Cash Flow | |||||
| Free Cash Flow | 616.80M | 603.00M | 626.80M | 489.40M | 492.60M |
| Operating Cash Flow | 680.40M | 668.10M | 716.70M | 557.40M | 565.30M |
| Investing Cash Flow | -137.60M | -1.01B | -283.80M | -917.20M | -698.10M |
| Financing Cash Flow | -632.60M | 465.90M | -344.70M | -37.80M | -9.50M |
IDEX Technical Analysis
Positive
191.63
Price Trends
200.20
Negative
187.06
Positive
177.65
Positive
Market Momentum
-3.68
Positive
43.50
Neutral
70.32
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IEX, the sentiment is Positive. The current price of 191.63 is below the 20-day moving average (MA) of 196.42, below the 50-day MA of 200.20, and above the 200-day MA of 177.65, indicating a neutral trend. The MACD of -3.68 indicates Positive momentum. The RSI at 43.50 is Neutral, neither overbought nor oversold. The STOCH value of 70.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IEX.
IDEX Risk Analysis
IDEX disclosed 17 risk factors in its most recent earnings report. IDEX reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
IDEX Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $14.23B | 26.59 | 20.38% | 1.32% | 2.85% | 3.09% | |
78 Outperform | $16.67B | 28.23 | 16.15% | 0.79% | 8.01% | 2.67% | |
77 Outperform | $14.25B | 25.94 | 12.11% | 1.56% | 7.09% | -2.29% | |
74 Outperform | $15.11B | 28.71 | 17.30% | 1.64% | 3.78% | 4.85% | |
65 Neutral | $10.07B | 28.93 | 19.12% | 0.49% | -0.37% | 21.77% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | $12.04B | 50.02 | 6.19% | ― | 5.52% | 9.03% |
* Industrials Sector Average
IEX
IDEX
191.63
9.73
5.35%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.