NYSE: IEX
IDEX
Industrials · Pumps & Pumping Equipment
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$16.7B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $6.87B |
| FY2017, ended Dec 31, 2017 | $10.1B |
| FY2018, ended Dec 31, 2018 | $9.57B |
| FY2019, ended Dec 31, 2019 | $13.1B |
| FY2020, ended Dec 31, 2020 | $15.1B |
| FY2021, ended Dec 31, 2021 | $18.0B |
| FY2022, ended Dec 31, 2022 | $17.2B |
| FY2023, ended Dec 31, 2023 | $16.4B |
| FY2024, ended Dec 31, 2024 | $15.9B |
| FY2025, ended Dec 31, 2025 | $13.2B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $16.7B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.66B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.11B |
| FY2017, ended Dec 31, 2017 | $2.29B |
| FY2018, ended Dec 31, 2018 | $2.48B |
| FY2019, ended Dec 31, 2019 | $2.49B |
| FY2020, ended Dec 31, 2020 | $2.35B |
| FY2021, ended Dec 31, 2021 | $2.76B |
| FY2022, ended Dec 31, 2022 | $3.18B |
| FY2023, ended Dec 31, 2023 | $3.27B |
| FY2024, ended Dec 31, 2024 | $3.27B |
| FY2025, ended Dec 31, 2025 | $3.46B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.66B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $271M | $362M |
| FY2017, ended Dec 31, 2017 | $337M | $389M |
| FY2018, ended Dec 31, 2018 | $411M | $423M |
| FY2019, ended Dec 31, 2019 | $426M | $477M |
| FY2020, ended Dec 31, 2020 | $378M | $518M |
| FY2021, ended Dec 31, 2021 | $449M | $493M |
| FY2022, ended Dec 31, 2022 | $587M | $489M |
| FY2023, ended Dec 31, 2023 | $596M | $627M |
| FY2024, ended Dec 31, 2024 | $505M | $603M |
| FY2025, ended Dec 31, 2025 | $483M | $617M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $536M | $667M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$602M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $236M |
| FY2017, ended Dec 31, 2017 | $376M |
| FY2018, ended Dec 31, 2018 | $466M |
| FY2019, ended Dec 31, 2019 | $633M |
| FY2020, ended Dec 31, 2020 | $1.03B |
| FY2021, ended Dec 31, 2021 | $855M |
| FY2022, ended Dec 31, 2022 | $430M |
| FY2023, ended Dec 31, 2023 | $534M |
| FY2024, ended Dec 31, 2024 | $621M |
| FY2025, ended Dec 31, 2025 | $580M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $602M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.76B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.02B |
| FY2017, ended Dec 31, 2017 | $862M |
| FY2018, ended Dec 31, 2018 | $852M |
| FY2019, ended Dec 31, 2019 | $851M |
| FY2020, ended Dec 31, 2020 | $1.05B |
| FY2021, ended Dec 31, 2021 | $1.20B |
| FY2022, ended Dec 31, 2022 | $1.48B |
| FY2023, ended Dec 31, 2023 | $1.33B |
| FY2024, ended Dec 31, 2024 | $1.97B |
| FY2025, ended Dec 31, 2025 | $1.83B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.76B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Down 3.7% since 2016.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.73.5M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 76.2M |
| FY2017, ended Dec 31, 2017 | 76.5M |
| FY2018, ended Dec 31, 2018 | 75.8M |
| FY2019, ended Dec 31, 2019 | 76.2M |
| FY2020, ended Dec 31, 2020 | 75.9M |
| FY2021, ended Dec 31, 2021 | 76.1M |
| FY2022, ended Dec 31, 2022 | 75.5M |
| FY2023, ended Dec 31, 2023 | 75.6M |
| FY2024, ended Dec 31, 2024 | 75.8M |
| FY2025, ended Dec 31, 2025 | 74.3M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 73.5M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $270M more bought back than issued
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $57.3M | $20.3M |
| FY2017, ended Dec 31, 2017 | $29.1M | $24.4M |
| FY2018, ended Dec 31, 2018 | $174M | $24.8M |
| FY2019, ended Dec 31, 2019 | $54.7M | $22.1M |
| FY2020, ended Dec 31, 2020 | $110M | $14.8M |
| FY2021, ended Dec 31, 2021 | $0 | $20.4M |
| FY2022, ended Dec 31, 2022 | $148M | $21.6M |
| FY2023, ended Dec 31, 2023 | $24.2M | $21.8M |
| FY2024, ended Dec 31, 2024 | $0 | $25.8M |
| FY2025, ended Dec 31, 2025 | $248M | $27.3M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $301M | $31.2M |
Revenue (TTM)
$3.66B
+6.9% YoY
Net income (TTM)
$536M
+12.1% YoY
Cash
$602M
+1.4% YoY
Total debt
$1.76B
−8.0% YoY
Valuation
At current price- Market Cap
- $17.2B
- P/E
- 32.1×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 4.7×
- Price / Book
- 4.3×
- EV / EBITDA
- 18.7×
Growth
Trailing 12 months- Revenue (TTM)
- $3.66B
- Revenue Growth YoY
- 6.9%
- Revenue CAGR 3Y
- 2.8%
- Revenue CAGR 5Y
- 8.0%
- EPS Growth YoY
- 13.9%
- Net Income Growth YoY
- 12.1%
Profitability
Trailing 12 months- Gross Margin
- 44.9%
- Operating Margin
- 20.9%
- Net Margin
- 14.6%
- FCF Margin
- 18.2%
- Return on Equity
- 13.3%
Earnings
Trailing 12 months- Net Income
- $536M
- EPS (diluted)
- $7.20
- EBITDA
- $978M
- Operating Income
- $764M
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $602M
- Total Debt
- $1.76B
- Net Debt
- $1.16B
- Total Assets
- $6.88B
- Total Liabilities
- $2.86B
- Shareholders' Equity
- $4.02B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $753M
- Capital Expenditure
- $85.6M
- Free Cash Flow
- $667M
Dividends and risk
Last 12 months- Dividend Yield
- 1.2%
- Dividend / Share
- $2.90
- Beta (5Y)
- 0.96
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 6.9% year over year, at $3.66B.
Note
Net margin of 14.6% over the last 12 months.
Note
Net debt of $1.16B is 1.2× EBITDA, a manageable load.
Strength
Turns 18.2% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 28, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K67Mildly positive
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 19, 2026 · Read the filing on EDGAR
- Sales hit a record $3.46 billion, up 6%, helped mainly by the Mott acquisition; organic sales, which exclude deals and currency effects, rose only 1%.
- Operating income rose 3% to $699.3 million, but net income fell 4% to $483.2 million on higher interest costs and taxes.
- IDEX resumed buybacks, spending about $250 million after none in 2024, and the board authorized another $635 million.
- Demand is split: data center, semiconductor, space and defense are strong, while industrial, chemical, energy and agricultural markets remain flat or soft.
Business momentum
Improving
“Record reported Net sales of $3,457.5 million increased 6% overall and increased 1% organically”
Outlook
Neutral
“Within the HST segment, the Company anticipates continued growth supported by robust demand across data center, semiconductor, space and defense, and food and beverage and pharmaceutical end markets.”
Financial stress
Low
“the Company’s interest coverage ratio was 13.13 to 1 for covenant calculation purposes and the leverage ratio was 1.96 to 1”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
Health & Science segment grew strongly, with data center and space and defense volumes higher
“higher volumes in the Company’s data center, semiconductor consumables and space and defense businesses”
Cash generation stayed strong, with free cash flow exceeding adjusted net income
“Free cash flow* of $616.8 million increased 2% and was 103% of adjusted net income*, up from 101%”
Price increases and cost savings lifted gross margin to 44.5% from 44.2%
“Gross profit and Gross margin were positively impacted by price/cost and operational productivity improvements”
Concerns
Net income fell despite higher sales, as interest costs and the tax rate rose
“Results were tempered by higher interest expense, the absence of certain tax benefits recognized in 2024 as well as higher amortization on acquisition related intangibles assets.”
Growth relied on price and acquisitions, as volumes fell in two of three segments
“Lower volumes in our FMT and FSDP segments were only partly mitigated by higher volumes in our HST segment.”
Weakness in several end markets is expected to continue into 2026
“near‑term headwinds are expected to persist due to ongoing weakness in Fire & Safety markets outside the United States and subdued”
New risks since the previous report
Unpredictable demand from AI-related projects such as data centers and semiconductors
“The growth and development of this rapidly-evolving industry is difficult to predict.”
Problems adopting AI in IDEX's own business and products, plus evolving AI rules
“Compliance with new or changing laws, regulations or industry standards relating to AI may impose significant costs and may limit our ability to develop, deploy or use AI technologies.”
Competitors may use AI to develop new products faster than IDEX
“using artificial intelligence (“AI”) and machine learning to pursue new products and approaches more quickly, successfully and effectively than the Company”
Biggest risks named
- Economic slowdown in the US, abroad or key end markets
- Trade, tariff, currency and political risks on 49% of sales abroad
- Acquisition integration, added debt and possible goodwill write-downs
- Shortages and price changes for raw materials and parts
- Cyberattacks and information system disruptions
Artificial intelligence in this business: Mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | +6 | |
| Outlook | 0 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | 0 | |
| New risks | −1.5 | |
| Score | 67 | |
Written by AI (Claude Opus 5.5) from the report’s text. 12 of 12 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 28, 2026 | Pro | |||
| 10-K | Feb 19, 2026 | 67 | Improving | None | |
| 10-K | Feb 20, 2025 | 54 | Weakening | None | |
| 10-K | Feb 22, 2024 | 57 | Stable | None | |
| 10-K | Feb 23, 2023 | 74 | Strong improvement | None | |
| 10-K | Feb 24, 2022 | 75 | Strong improvement | None | |
| 10-K | Feb 25, 2021 | 54 | Weakening | None | |
| 10-K | Feb 21, 2020 | 53 | Mixed | 1 minor | |
| 10-K | Feb 28, 2019 | 74 | Strong improvement | None | |
| 10-K | Feb 22, 2018 | 77 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 28, 2026. View filings on SEC EDGAR