FirmAtlas
Company handbook · IEX · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
IEX · CIK 832101 · LATEST FILING: 10-Q JUN '26 · FILED JUL 29, 2026
IDEX CORP
$235.55
−0.87 (−0.37%)
Close, Oct 16, 2026 · 52-week $161–244
Last fiscal year
IDEX CORP reported revenue of $3.5B for the year ended Dec 31, 2025 (FY25), up 5.8% from FY24. Net income was $483M, operating cash flow $680M and free cash flow $617M. Source: 10-K filed Feb 19, 2026.
Market cap
$17.7B
P/E
34.1
EV/EBITDA
24.5x
P/B
4.4
Div yield
1.23%
ROIC
10.2%
Revenue 1Y
5.8%/yr
EPS 1Y
−3.5%/yr
Shares 1Y
−0.8%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOEric D. Ashleman
HQNorthbrook, IL
AuditorDeloitte & Touche LLP
Year endsDecember
Revenue by segment · FY25
Health And Science Technologies43%
Fluid And Metering Technologies35%
Fire And Safety Diversified Products22%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
10.5%
2.0%
5.1%
42.7%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.9B deployed
Capex
$129M
6.9%
Acquisitions
$1.1B
57.2%
Dividends
$418M
22.5%
Buybacks
$248M
13.4%
Operating cash flow over the period: $1.3B. Total debt changed by −$242M. R&D of $137M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
3,269
3,458+5.8%
3,585
YoY
+5.8%
Gross profit
1,445
1,539+6.5%
1,603
Gross margin
44.2%
44.5%+0.3 pp
—
Operating income
677
699+3.3%
742
Operating margin
20.7%
20.2%−0.5 pp
—
EBITDA
746
775+3.9%
—
EBITDA margin
22.8%
22.4%−0.4 pp
—
Interest expense
47
72+52.3%
—
Interest coverage
15.73x
10.74x−5.00x
—
Net income
505
483−4.3%
520
YoY
−4.3%
Net margin
15.4%
14.0%−1.5 pp
—
EPS (diluted, $)
6.64
6.41−3.5%
6.94
YoY
−3.5%
Balance sheet
Total assets
6,745
6,927+2.7%
6,930
Cash & short-term investments
639
586−8.3%
—
Accounts receivable
461
512+11.0%
—
Inventory
430
479+11.6%
—
Net PP&E
460
468+1.7%
—
Other assets
4,755
4,882+2.7%
—
Total liabilities
2,951
2,900−1.7%
2,922
Total debt
2,072
1,830−11.7%
1,867
Other liabilities
879
1,069+21.7%
—
Shareholders’ equity
3,795
4,028+6.1%
4,008
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
668
680+1.8%
717
Net income
505
482−4.4%
—
Depreciation & amortization
68
76+10.7%
—
Stock-based compensation
26
27+5.8%
—
Working capital & other
69
95+37.0%
—
Cash from investing
(1,006)
(138)n/m
—
Capex
(65)
(64)n/m
—
Acquisitions
(984)
(76)n/m
—
Investments bought
0
0n/m
—
Investments sold / matured
4
0−100.0%
—
Other investing
39
2−94.3%
—
Cash from financing
466
(633)−235.8%
—
Debt raised
497
0−100.0%
—
Debt repaid
(50)
(100)n/m
—
Dividends
(205)
(213)n/m
—
Buybacks
0
(248)n/m
—
Other financing
224
(72)−132.2%
—
Net change in cash
105
(53)−150.7%
—
Free cash flow (OCF − capex)
603
617+2.3%
641
Where the cash went
Operating cash flow
668
680+1.8%
717
Reinvested in the business
1,050
140−86.7%
—
% of operating cash flow
157.1%
20.5%
Capex
65
64−2.3%
75
Acquisitions
984
76−92.3%
—
R&D (memo, already in costs)
67
70+3.9%
—
Free cash flow
603
617+2.3%
641
YoY
+2.3%
Returned to shareholders
205
460+124.3%
—
% of free cash flow
34.0%
74.6%
Dividends
205
213+3.6%
—
Buybacks
0
248n/m
—
Change in total debt
—
(242)
—
Cash left over
—
(161)
—
FCF conversion (FCF ÷ net income)
119.4%
127.6%+8.2 pp
—
Owner earnings
—
395
—
Owner earnings margin
—
11.4%
—
Buyback yield
—
1.8%
—
Returns & ratios
ROIC (all capital)
10.2%
10.2%−0.1 pp
—
ROIC (operating)
39.6%
38.0%−1.6 pp
—
Net debt / EBITDA
1.92x
1.61x−0.32x
—
Debt / equity
0.55x
0.45x−0.09x
—
ROE
13.3%
12.0%−1.3 pp
—
ROA
7.5%
7.0%−0.5 pp
—
ROCE
11.1%
11.0%−0.1 pp
—
NOPAT
535
533−0.2%
—
Invested capital (operating)
1,351
1,459+8.0%
—
Invested capital (all)
5,228
5,272+0.8%
—
Reinvestment rate
—
20.3%
—
Debtor days
51
54+3 d
—
Inventory days
86
91+5 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
879
899
887
921
vs year-ago quarter
Gross profit
391
387
398
427
Gross margin
44.5%
43.1%
44.9%
46.4%
Operating income
186
184
172
200
Net income
128
128
120
143
vs year-ago quarter
Net margin
14.5%
14.3%
13.5%
15.6%
EPS (diluted, $)
1.70
1.70
1.61
1.93
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
6,970
6,927
6,919
6,930
Cash & equivalents
600
586
592
628
Total debt
1,912
1,830
1,881
1,867
Shareholders’ equity
4,011
4,028
4,050
4,008
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
204
209
104
200
Capex
15
20
18
23
Free cash flow
189
190
86
177
vs year-ago quarter