Want to see IEX full AI Analyst Report?
Top Page
IDEX
(NYSE:IEX)
Select Model
Select Model
Rating:78Outperform
Price Target:
$245.00
▲(18.98% Upside)
Action:Reiterated
Date:05/09/26
The score is led by constructive earnings-call signals (raised 2026 growth/EPS outlook driven by HST momentum and backlog) and a strong technical uptrend. Financials are solid but held back by margin compression and highly volatile recent free cash flow growth, while valuation is a modest drag due to a higher P/E and only moderate yield.
Positive Factors
HST outperformance & backlog
Sustained double-digit orders and revenue growth in the Health & Science Technologies platform, plus a 100bp EBITDA margin lift and an expanding backlog, signal durable end-market demand (data centers, semiconductors, pharma). This provides multi-quarter visibility and supports above-company organic growth over time.
Negative Factors
Volatile free cash flow
Despite strong cash conversion in typical periods, the large TTM FCF drop signals material volatility tied to working capital or investment timing. This undermines predictability for capex, acquisitions and buybacks, raising the risk that funding patterns or returns fluctuate materially across reporting periods.
Read all positive and negative factors
Positive Factors
Negative Factors
HST outperformance & backlog
Sustained double-digit orders and revenue growth in the Health & Science Technologies platform, plus a 100bp EBITDA margin lift and an expanding backlog, signal durable end-market demand (data centers, semiconductors, pharma). This provides multi-quarter visibility and supports above-company organic growth over time.
Read all positive factors
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 (IEX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.57B
Dividend Yield1.56%
Average Volume (3M)715.00K
Price to Earnings (P/E)33.1
Beta (1Y)0.95
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. Volume787,309
30 Day Avg. Volume714,996
Financial Highlights & Ratios
PEG Ratio-7.12
Price to Book (P/B)3.33
Price to Sales (P/S)3.88
P/FCF Ratio21.72
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue5.06
Enterprise Value/Gross Profit11.40
Enterprise Value/Ebitda19.02
Forecast
1Y Price Target
$246.10Price Target Upside19.51% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)8.47
Revenue Forecast (FY)$3.63B
IDEX Business Overview & Revenue Model
Company Description
IDEX Corporation is an international enterprise specializing in engineered solutions across diverse sectors. The company operates through three primary business units: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and F...
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 Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 29, 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 | 939.70M | 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 | 1.90B | 1.85B | 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
215.16
Positive
206.99
Positive
190.68
Positive
Market Momentum
3.55
Positive
56.52
Neutral
58.86
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 below the 20-day moving average (MA) of 222.12, below the 50-day MA of 215.16, and above the 200-day MA of 190.68, indicating a bullish trend. The MACD of 3.55 indicates Positive momentum. The RSI at 56.52 is Neutral, neither overbought nor oversold. The STOCH value of 58.86 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 1 risk factors in its most recent earnings report. IDEX reported the most risks in the "Legal & Regulatory" 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 | $16.57B | 33.06 | 12.61% | 1.56% | 7.54% | 7.09% | |
75 Outperform | $16.18B | 30.86 | 17.12% | 1.64% | 7.37% | 20.50% | |
72 Outperform | $16.70B | 32.77 | 13.03% | 0.79% | 16.63% | -9.75% | |
71 Outperform | $12.49B | 24.12 | 19.65% | 1.32% | 4.61% | 7.87% | |
70 Outperform | $12.57B | 39.21 | 16.30% | 0.49% | 7.18% | 5.22% | |
68 Neutral | $14.87B | 77.98 | 7.18% | ― | -0.51% | -44.42% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% |
* Industrials Sector Average
IEX
IDEX
223.82
47.22
26.74%
GNRC
Generac Holdings
252.66
104.33
70.34%
GGG
Graco
75.24
-11.22
-12.97%
ITT
ITT
186.80
29.24
18.56%
NDSN
Nordson
290.38
74.43
34.46%
CR
Crane Company
217.64
27.46
14.44%
IDEX Corporate Events
Executive/Board ChangesShareholder Meetings
IDEX Shareholders Back Board, Executive Pay and Auditor
Positive
May 8, 2026
On May 6, 2026, IDEX Corporation held its Annual Meeting of Stockholders, at which shareholders elected four Class I directors — Mark A. Beck, Carl R. Christenson, Katrina L. Helmkamp and Alejandro Quiroz Centeno — to three-year terms ...
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.