Industrials · Industrial Machinery & Supplies & Components · US stock · price as of 16 Oct 2026
Key indicators
Price
$235.55
52-week range
$158.42 – $243.03
Market cap
$17.5B
P/E (trailing)
33.9×
EV / EBITDA
25.2×
Free-cash-flow yield
3.7%
Dividend yield
1.2%
Revenue (last 12 months)
$3.6B
Revenue growth (3y a year)
2.8%
Operating margin
20.7%
Return on invested capital
10.8%
Net debt / EBITDA
1.7×
Fair value
Blended fair value$187.54 range $180 – $196
Versus priceFair−20% to fair value
Peer multiples
$201.12
Fundamentals-adjusted multiple
$195.12
10-year DCF (market-scaled)
$166.38
Earnings power value (floor, not blended)
$75.57
Model uncertainty
Medium
X-Ray Score
48/ 100 · High confidence · ahead of 40% of sector peers
Valuation33
Growth37
Profitability47
Financial health77
Dividends52
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
IDEX makes specialised engineered products that control and move fluids, and related equipment. Its range includes pumps, flow meters, dispensing systems, valves and precision components for the life sciences, chemical, food and water industries, as well as rescue tools and equipment for fire departments. Customers are mostly industrial and scientific businesses. It operates through a group of niche businesses organised into fluid and metering, health and science, and fire and safety segments.
The company earns money from the equipment and replacement parts it supplies, with products designed into customers' own machines and processes. Sales were $3.6 billion over the last twelve months, with growth of 2.8% a year across the last three years. The operating margin is 20.7%, and the business earns a profit of 11% on the capital invested in it. Net debt is 1.7 times EBITDA. It pays a dividend with a yield of 1.2%.
StocksXray gives Idex Corp an X-Ray Score of 48 out of 100 (high confidence), ahead of 40% of the S&P 500 stocks in its sector. Its strongest lens is financial health (77) and its weakest is valuation (33).
Our fair value blend is $187.54 (range $179.59 to $196.03). At $235.55 the stock trades 26% above that blend, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Idex Corp (IEX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$221.42
$216.50
$208.28
$203.37
$175.53
$235.55
Market cap
$16.9B
$16.5B
$15.8B
$15.4B
$13.2B
$17.5B
P/E
37.7×
28.1×
26.5×
30.6×
27.4×
33.9×
EV / revenue
6.2×
5.5×
5.1×
5.1×
4.2×
5.2×
EV / EBITDA
23.3×
20.1×
18.8×
24.8×
20.7×
25.2×
Price / free cash flow
34.3×
33.6×
25.2×
25.6×
21.4×
27.2×
Free-cash-flow yield
2.9%
3.0%
4.0%
3.9%
4.7%
3.7%
Price / book
6.0×
5.4×
4.5×
4.1×
3.3×
4.4×
Dividend yield
0.98%
1.11%
1.23%
1.36%
1.62%
1.23%
Fundamentals checklist ● 5 Good · ● 7 Average · ● 4 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−2.8%Average
Free-cash-flow yield3.7%Average
Risk models
Altman Z score5.5×Good
Piotroski F-Score8 of 9Good
Growth
EPS growth (3y)−6.0%Bad
Free-cash-flow growth (3y)8.0%Bad
Revenue growth (3y)2.8%Average
Growth consistency80%Average
Balance sheet
Current ratio3.0×Good
Net debt / EBITDA1.7×Average
Interest coverno interest costGood
Valuation
Fair value vs price0.8×Bad
EBIT / EV yield4.0%Average
Profitability
Return on invested capital10.8%Bad
Operating margin20.7%Good
Gross profitability23.1%Average
XStocksXray
Idex Corp (IEX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
2,765
3,182
3,274
3,269
3,458
3,585
Gross profit
1,225
1,427
1,447
1,445
1,539
1,603
Operating income
637
751
733
677
699
742
Net income
449
587
596
505
483
520
Diluted EPS ($)
5.88
7.71
7.85
6.64
6.41
6.95
Free cash flow
493
489
627
603
617
642
Gross margin
44.3%
44.8%
44.2%
44.2%
44.5%
44.7%
Operating margin
23.0%
23.6%
22.4%
20.7%
20.2%
20.7%
Net margin
16.3%
18.4%
18.2%
15.4%
14.0%
14.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
4,917
5,512
5,865
6,745
6,927
6,930
Cash
855
430
534
621
580
621
Total debt
1,190
1,469
1,326
1,960
1,821
1,859
Equity
2,803
3,039
3,541
3,795
4,028
4,008
Dividend per share ($)
2.16
2.40
2.56
2.76
2.84
–
Revenue and net income US$ billions: navy revenue, teal net income
Margins blue gross, teal operating, brown net
Latest quarters
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026
Jun 2026
Revenue ($M)
814
865
879
899
887
921
Growth vs a year earlier
+1.7%
+7.2%
+10.1%
+4.2%
+8.9%
+6.4%
Net income ($M)
96
132
128
128
120
143
Diluted EPS ($)
1.26
1.74
1.70
–
1.61
1.93
XStocksXray
Idex Corp (IEX)
Peers in Industrial Machinery & Supplies & Components
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.