IDEX Corporation (IEX)
NYSE:IEX
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IDEX
(NYSE:IEX)
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Rating:77Outperform
Price Target:
$233.00
▲(13.15% Upside)
Action:ReiteratedDate:04/29/26
The score is driven primarily by solid financial fundamentals and a constructive technical uptrend, reinforced by a positive earnings call with raised growth and EPS guidance. Offsetting factors are a relatively expensive valuation (P/E ~25.9) and noted cash flow volatility/mix-driven margin pressure.
Positive Factors
HST secular growth
Health & Science Technologies shows durable end-market exposure (data centers, semiconductors, space/defense, pharma) with strong orders, revenue and margin expansion. That backlog and secular demand improve multi-year visibility and underpin higher-quality, structurally growing revenue and profitability.
Negative Factors
Free cash flow volatility
Large TTM FCF swings suggest working-capital variability or lumpy cash conversion that can impair predictability of funding for buybacks, dividends and acquisitions. Persistent volatility raises risk to cash-driven strategies and increases reliance on liquidity buffers or incremental debt.
Read all positive and negative factors
Positive Factors
Negative Factors
HST secular growth
Health & Science Technologies shows durable end-market exposure (data centers, semiconductors, space/defense, pharma) with strong orders, revenue and margin expansion. That backlog and secular demand improve multi-year visibility and underpin higher-quality, structurally growing revenue and profitability.
Read all positive factors
IDEX (IEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.86B
Dividend Yield1.56%
Average Volume (3M)834.46K
Price to Earnings (P/E)29.3
Beta (1Y)0.99
Revenue Growth7.54%
EPS Growth7.09%
CountryUS
Employees9,000
SectorIndustrials
Sector Strength72
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)6.77
Shares Outstanding74,015,050
10 Day Avg. Volume706,372
30 Day Avg. Volume834,464
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/Revenue4.89
Enterprise Value/Gross Profit11.00
Enterprise Value/Ebitda18.37
Forecast
1Y Price Target
$240.73Price Target Upside16.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)8.45
Revenue Forecast (FY)$3.62B
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)
Any
Revenue By Segment
Analyzes revenue from different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Analyzes revenue from different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Data provided by:
The Fly
The FlyIDEX Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call skewed positive: management reported better-than-expected Q1 results, raised full-year organic growth and EPS guidance, highlighted strong HST order and revenue momentum with meaningful backlog and margin expansion, maintained aggressive share repurchases and an active bolt-on M&A pipeline, and ended the quarter with strong liquidity. Offsetting items include mixed short-cycle industrial performance, pressure in life sciences and some gross margin/mix headwinds; free cash flow was modestly lower in the seasonally weak quarter. On balance, the positive operational progress, upgraded guidance and financial optionality outweigh the contained challenges.Positive Updates
Raised Full-Year Organic Growth Guidance
Full-year 2026 organic growth guidance increased to 3%–4% (up from 1%–2%), driven by stronger backlog and HST momentum.
Negative Updates
Segment Weaknesses in FSDP and Short-Cycle Industrials
FSDP organic orders declined 4% and organic sales fell 1% in Q1; dispensing business weakness (tough comps and project volumes in North America and Asia) offset growth in Fire & Safety (high single digits). Short-cycle industrial businesses showed mixed recovery—soft in January, stronger in March, but uneven across diagnostics.
Read all updates
Q1-2026 Updates
Positive
Negative
Raised Full-Year Organic Growth Guidance
Full-year 2026 organic growth guidance increased to 3%–4% (up from 1%–2%), driven by stronger backlog and HST momentum.
Read all positive updates
Company Guidance
IDEX raised its 2026 outlook, now forecasting 3–4% organic growth (up from prior 1–2%), driven by HST’s ~high-single-digit growth while FMT and FSDP are expected to be flattish; adjusted EBITDA margin guidance remains 26.5–27.0% (unchanged) and adjusted EPS was increased by $0.20 to $8.35–$8.55 (mid- to high-single-digit YoY growth). Q2 guidance is 3–4% organic growth, 26.5–27.0% adjusted EBITDA margin and $2.07–$2.12 adjusted EPS. Q1 results exceeded expectations with 5% organic sales growth, 10% organic order growth (HST +17%, FMT +9%, FSDP –4%), consolidated adjusted EBITDA margin 26% (up 50 bps YoY), adjusted gross margin 44.9% (down 40 bps), HST organic revenue +11% and HST EBITDA margin +100 bps; cash metrics included $86M free cash flow in Q1 (down $5M YoY) with at least 100% free cash flow conversion expected for 2026, liquidity of ≈$1.1B, gross leverage ≈2x, $76M of share repurchases and $53M of dividends in the quarter with repurchases planned at the same quarterly cadence.IDEX Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
82
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.53B | 3.46B | 3.27B | 3.27B | 3.18B | 2.76B |
| Gross Profit | 1.57B | 1.54B | 1.52B | 1.62B | 1.59B | 1.36B |
| EBITDA | 939.10M | 903.50M | 859.40M | 964.10M | 909.80M | 720.50M |
| Net Income | 507.70M | 483.20M | 505.00M | 596.10M | 586.90M | 449.40M |
Balance Sheet | ||||||
| Total Assets | 6.92B | 6.93B | 6.75B | 5.87B | 5.51B | 4.92B |
| Cash, Cash Equivalents and Short-Term Investments | 586.20M | 580.00M | 620.80M | 534.30M | 430.20M | 900.70M |
| Total Debt | 1.87B | 1.82B | 1.99B | 1.45B | 1.59B | 1.30B |
| Total Liabilities | 2.87B | 2.90B | 2.95B | 2.32B | 2.47B | 2.11B |
| Stockholders Equity | 4.05B | 4.03B | 3.79B | 3.54B | 3.04B | 2.80B |
Cash Flow | ||||||
| Free Cash Flow | 611.40M | 616.80M | 603.00M | 626.80M | 489.40M | 492.60M |
| Operating Cash Flow | 678.40M | 680.40M | 668.10M | 716.70M | 557.40M | 565.30M |
| Investing Cash Flow | -148.00M | -137.60M | -1.01B | -283.80M | -917.20M | -698.10M |
| Financing Cash Flow | -568.10M | -632.60M | 465.90M | -344.70M | -37.80M | -9.50M |
IDEX Technical Analysis
Positive
205.92
Price Trends
199.78
Positive
191.75
Positive
179.23
Positive
Market Momentum
2.16
Negative
62.57
Neutral
74.61
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 205.92 is above the 20-day moving average (MA) of 194.32, above the 50-day MA of 199.78, and above the 200-day MA of 179.23, indicating a bullish trend. The MACD of 2.16 indicates Negative momentum. The RSI at 62.57 is Neutral, neither overbought nor oversold. The STOCH value of 74.61 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $18.69B | 26.28 | 16.15% | 0.79% | 8.48% | -3.07% | |
77 Outperform | $15.86B | 29.34 | 12.61% | 1.56% | 7.54% | 7.09% | |
74 Outperform | $15.64B | 28.71 | 17.30% | 1.64% | 6.50% | 17.62% | |
70 Outperform | $9.86B | 36.76 | 16.30% | 0.49% | 7.18% | 5.22% | |
68 Neutral | $15.08B | 38.94 | 7.18% | ― | -0.51% | -44.42% | |
67 Neutral | $12.93B | 29.23 | 19.65% | 1.32% | 4.61% | 7.87% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
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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.