NYSE · IEX

IDEX Corporation

Industrials · Industrial - Machinery

$221.46▼ 1.62% ($3.64)at close

As of 4:00 PM ET

52-week

$158.19$243.80

Market cap

$16.33B

P/E

What the market price implies · Reverse DCF

To support a price of $221.46, this model requires Stage 1 FCFF to grow by 13.61%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 6.7%/yr over the past 10 years. The required annual growth rate is 6.92 percentage points higher.

Selected forecast · Base scenario

6.7%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

13.61%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$221.46

Estimated value / share

$162.43

Base scenario

This estimate is 26.65% below the price used.

USD · TTM ending 2026-06-30

Reported total debt includes capitalised leases (~1% of the total). They are excluded from net debt and from the WACC weights because rent is already charged inside operating income. The Net Debt shown here is therefore lower than the balance-sheet figure elsewhere on this page.

Stage 1 6.7% · Stage 2 3.68% · Discount rate 9.51%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 2:03 AM UTC · provider

Why this method?

FCFF is positive, stable, long-lived, and the business looks mature enough that a direct FCFF DCF can use historical cash flow as the anchor.

Is FCFF positive and has it been for 3+ consecutive years? 27 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 27.8%.

Do you have 5+ years of positive FCFF history? 27 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Revenue growth and margin behavior look mature enough for direct FCFF compounding.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveHigh confidence

1Y Price: 38.27%Revenue (TTM): 7.32%FCF (TTM): 9.28%P/FCF: 35th pct

What changed

The stock rose 38.27% over the last year. Revenue grew 7.32% over the trailing twelve months. Operating margin moved from 20.87% to 20.75%. Free cash flow grew 9.28% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 35th percentile of their historical P/FCF range.

What would invalidate this read

Operating margin is at 20.75%. Revenue grew 7.32% — this thesis depends on that trajectory holding. If revenue growth, margins, or free cash flow roll over while the stock keeps climbing, more of the move would be coming from multiple expansion than business progress.

Performance

Return analysis

Company profile

IDEX Corporation is an international enterprise specializing in engineered solutions across diverse sectors.

CEOEric D. Ashleman

SectorIndustrials

IndustryIndustrial - Machinery

Employees8,700

IPO dateJun 2, 1989

https://www.idexcorp.com

Market multiples

Forward P/E—

EV/EBITDA16.23

Enterprise value$14.67B

Stock splits

May 22, 2007↑ Forward

Every 2 shares became 3

+50%

Jun 1, 2004↑ Forward

Every 2 shares became 3

+50%

Feb 3, 1997↑ Forward

Every 2 shares became 3

+50%

Feb 1, 1995↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Revenue growth6.38%

Gross margin44.7%▼1.9ppvs FY2024

Operating margin20.75%▼0.5ppvs FY2024

ROE12.96%▲0.6ppvs FY2025

Analyst consensus

RatingBuy

Target price$254.44▲14.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $2.23 · Revenue est $932.69M

View

Dividends

$2.88/shareQuarterlyDividend Aristocrat · 30yrSafe

IEX pays a dividend with a 1.3% dividend yield, 30 consecutive years of growth, growing at 6.72% annually, covered 2.9× by free cash flow.

Dividend Yield

1.3%

Annual Div / Share

$2.88

5yr CAGR

+6.72%

Doubles every ~10.6yr

Payout Ratio

41.08%

Safe

Dividend Growth Rate

3yr CAGR

+5.11%

5yr CAGR

+6.72%

10yr CAGR

+8.11%

Dividend Safety

9/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.88+2.9%

2025$2.80+5.3%

2024$2.66+7.3%

2023$2.48+8.8%

2022$2.28+9.6%

2021$2.08+4.0%

2020$2.00+7.5%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$13/yr

$1/mo

In 5 yrs

$18/yr+38%

$2/mo

In 10 yrs

$25/yr+92%

$2/mo

Today	In 5 yrs	In 10 yrs
$13/yr $1/mo	$18/yr+38% $2/mo	$25/yr+92% $2/mo

Yield-on-cost grows from 1.3% → 2.49% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

IEX has raised its dividend for 30 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 2.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 6.72% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NYSE · IEX

IDEX Corporation

Industrials · Industrial - Machinery

$221.46▼ 1.62% ($3.64)at close

As of 4:00 PM ET

52-week

$158.19$243.80

Market cap

$16.33B

P/E

What the market price implies · Reverse DCF

To support a price of $221.46, this model requires Stage 1 FCFF to grow by 13.61%/yr over the next 5 years, compounded annually.

Historical FCFF grew by 6.7%/yr over the past 10 years. The required annual growth rate is 6.92 percentage points higher.

Selected forecast · Base scenario

6.7%/yr · Stage 1 default · years 1–5

Annual overrides take precedence over the Stage 1 default.

Market-implied · Other assumptions held fixed

13.61%/yr · Stage 1 · years 1–5

Stage 1 growth is solved while Stage 2 growth, terminal growth, discount inputs, and annual overrides remain fixed. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Cash-flow DCF

Price used

$221.46

Estimated value / share

$162.43

Base scenario

This estimate is 26.65% below the price used.

USD · TTM ending 2026-06-30

Stage 1 6.7% · Stage 2 3.68% · Discount rate 9.51%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future free cash flow, discounted to its value today.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-30
Data refreshed: Sep 11, 2026, 2:03 AM UTC · provider

Why this method?

FCFF is positive, stable, long-lived, and the business looks mature enough that a direct FCFF DCF can use historical cash flow as the anchor.

Is FCFF positive and has it been for 3+ consecutive years? 27 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 27.8%.

Do you have 5+ years of positive FCFF history? 27 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? Revenue growth and margin behavior look mature enough for direct FCFF compounding.

Price vs Fundamentals

Why The Stock Is Moving

Fundamentals are supporting the moveHigh confidence

1Y Price: 38.27%Revenue (TTM): 7.32%FCF (TTM): 9.28%P/FCF: 35th pct

What changed

The stock rose 38.27% over the last year. Revenue grew 7.32% over the trailing twelve months. Operating margin moved from 20.87% to 20.75%. Free cash flow grew 9.28% over the trailing twelve months.

What the market seems to be pricing

The stock move broadly lines up with stronger business momentum, and the shares are still only around the 35th percentile of their historical P/FCF range.

What would invalidate this read

Performance

Return analysis

Company profile

IDEX Corporation is an international enterprise specializing in engineered solutions across diverse sectors.

CEOEric D. Ashleman

SectorIndustrials

IndustryIndustrial - Machinery

Employees8,700

IPO dateJun 2, 1989

https://www.idexcorp.com

Market multiples

Forward P/E—

EV/EBITDA16.23

Enterprise value$14.67B

Stock splits

May 22, 2007↑ Forward

Every 2 shares became 3

+50%

Jun 1, 2004↑ Forward

Every 2 shares became 3

+50%

Feb 3, 1997↑ Forward

Every 2 shares became 3

+50%

Feb 1, 1995↑ Forward

Every 2 shares became 3

+50%

Profitability & growth

Revenue growth6.38%

Gross margin44.7%▼1.9ppvs FY2024

Operating margin20.75%▼0.5ppvs FY2024

ROE12.96%▲0.6ppvs FY2025

Analyst consensus

RatingBuy

Target price$254.44▲14.89%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Oct 28, 2026

Q4 FY26 · EPS est $2.23 · Revenue est $932.69M

View

Dividends

$2.88/shareQuarterlyDividend Aristocrat · 30yrSafe

IEX pays a dividend with a 1.3% dividend yield, 30 consecutive years of growth, growing at 6.72% annually, covered 2.9× by free cash flow.

Dividend Yield

1.3%

Annual Div / Share

$2.88

5yr CAGR

+6.72%

Doubles every ~10.6yr

Payout Ratio

41.08%

Safe

Dividend Growth Rate

3yr CAGR

+5.11%

5yr CAGR

+6.72%

10yr CAGR

+8.11%

Dividend Safety

9/10Safe

Dividend History

Annualized dividend cycles per share

YearAnnual DivYoY

2026$2.88+2.9%

2025$2.80+5.3%

2024$2.66+7.3%

2023$2.48+8.8%

2022$2.28+9.6%

2021$2.08+4.0%

2020$2.00+7.5%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$13/yr

$1/mo

In 5 yrs

$18/yr+38%

$2/mo

In 10 yrs

$25/yr+92%

$2/mo

Today	In 5 yrs	In 10 yrs
$13/yr $1/mo	$18/yr+38% $2/mo	$25/yr+92% $2/mo

Yield-on-cost grows from 1.3% → 2.49% over 10yr

Analysis

Dividend Strengths

Dividend Aristocrat

IEX has raised its dividend for 30 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 2.9× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 6.72% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.