Idex manufactures pumps, flow meters, valves, and fluidic systems for customers in a variety of end markets, including industrial, fire and safety, life science, and water.
It is a $17.3B industrial company. Revenue grew 7.3% over the last year, it keeps 14¢ of every dollar of sales as profit, and its net debt equals ~1.9 years of free cash flow. It trades at 33.2× earnings — in the most expensive third of its own history.
- Website
- idexcorp.com
- Location
- Northbrook, IL
- Employees
- 8 700
- Sector
- Industrials
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong quality and moat; Valuation lags behind.
Valuation44
- P/E vs own history83th pct · 0/25
- FCF yield3.7% · 12/25
- P/S4.8x · 20/25
- EV/EBITDA22.6x · 12/25
Growth55
- Revenue CAGR5.7% · 12/25
- Net income CAGR1.8% · 6/25
- EPS CAGR ~5Y5.4% · 12/25
- Fwd implied growth38.2% · 25/25
Profitability64
- ROIC9.2% · 12/25
- ROE12.9% · 12/25
- Net margin14.5% · 20/25
- Operating margin20.7% · 20/25
Health62
- Altman Zn/a · 0/25
- Current ratio3.05 · 25/25
- Interest coverage10.8x · 25/25
- Net cash / debtD/A 18% · 12/25
Quality100
- Piotroski F8/9 · 25/25
- Beneish M-2.58 · 25/25
- FCF conversion123% · 25/25
- Margin stabilityσ 2.6% · 25/25
Moat90
- ROIC >12% years8/10 yrs · 20/25
- Median gross margin44.4% · 20/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 12.8% · 25/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2023FinancialBest year on record$596M net income
- 2022AcquisitionIDEX announced that it would acquire the Netherlands-based micro-precision technology…
- 2018AcquisitionIDEX Corporation announced its acquisition of Phantom Controls, a company that manufactures pump systems
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $1B$2.11B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2011AcquisitionIDEX acquired Microfluidics International, a company that designs and manufactures equipment that used to…
- 1994AcquisitionIDEX reached an agreement to acquire Hale Products, Inc., of Conshohocken, Pa., for $90 million
- 1989IPOThe company raised $3.3 million with its initial public offering in June 1989
- 1988AcquisitionIDEX was formed in 1988, when Kohlberg Kravis Roberts purchased several divisions of Houdaille Industries
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (44.7%)
- Strong cash conversion — FCF is 17.9% of revenue
- Interest covered 10.8× by operating earnings
- Piotroski F-Score 8/9 — fundamentally strong checklist
Watch-outs
Nothing stands out as a concern in the available data.
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+7.3% YoY
- Profitable — makes more than it spends$520M TTM
- Profit growing — earnings are higher than last year-6.0% YoY
- Generates cash — cash left after running and investing$642M TTM
- Debt under control — could handle its obligations~1.9y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$17.3B market cap
- Not printing shares — share count not ballooning — you keep your slice-1.4% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distresshealth score 50/100
- Pays a dividend — returns cash to shareholdersyield 1.24%
- Valuation not extreme — price not wildly above earningsP/E 33.2
Peer comparisonIDEX Corporation vs 6 largest industrials peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| IEX this company | $17.3B | 33.2 | +7.3% | 14.5% | Mixed |
| LRCX Lam Research Corp | $399.2B | 54.9 | +26.0% | 31.3% | Strong |
| CAT Caterpillar Inc. | $368.0B | 33.9 | +18.4% | 14.5% | Solid |
| RTX RTX Corporation | $251.3B | 32.4 | +11.8% | 8.3% | Strained |
| DE Deere & Company | $167.7B | 34.4 | +8.3% | 10.2% | Solid |
| ETN Eaton Corporation, plc | $167.2B | 43.6 | +15.5% | 12.8% | Mixed |
| UNP Union Pacific Corp. | $166.8B | 22.6 | +4.2% | 28.8% | Strained |
Head-to-head: IEX vs LRCX · IEX vs CAT · IEX vs RTX
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/IEX
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of IEX on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $234.29 · market cap $17.3B.