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IDEX Corporation (IEX) 10-Year Financial Performance & Capital Metrics

IEX • • Industrial / General
IndustrialsIndustrial MachineryFluid Handling & Pumping SystemsIndustrial Pumps & Valves
AboutIDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries. The HST segment designs, produces, and distributes precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems, pneumatic components and sealing solutions, high performance molded and extruded sealing components, custom mechanical and shaft seals, engineered hygienic mixers and valves, biocompatible medical devices and implantables, air compressors and blowers, optical components and coatings, laboratory and commercial equipment, precision photonic solutions, and precision gear and peristaltic pump technologies. This segment serves food and beverage, pharmaceutical and biopharmaceutical, cosmetics, marine, chemical, wastewater and water treatment, life sciences, research, and defense markets. The FSDP segment designs, produces, and distributes firefighting pumps, valves and controls, rescue tools, lifting bags, and other components and systems for the fire and rescue industry; engineered stainless steel banding and clamping devices for various industrial and commercial applications; and precision equipment for dispensing, metering, and mixing colorants and paints used in retail and commercial businesses. IDEX Corporation was incorporated in 1987 and is headquartered in Northbrook, Illinois.Show more
  • Revenue $3.27B -0.2%
  • EBITDA $873M -3.4%
  • Net Income $505M -15.3%
  • EPS (Diluted) 6.64 -15.4%
  • Gross Margin 46.4% -6.4%
  • EBITDA Margin 26.69% -3.2%
  • Operating Margin 21.32% -7.0%
  • Net Margin 15.45% -15.2%
  • ROE 13.77% -24.0%
  • ROIC 10.88% -16.5%
  • Debt/Equity 0.52 +28.2%
  • Interest Coverage 15.66 +7.9%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓FCF machine: 18.4% free cash flow margin
  • ✓22 consecutive years of dividend growth
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Good 3Y average ROE of 17.3%
  • ✓Healthy 5Y average net margin of 16.9%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.29%
5Y5.55%
3Y5.74%
TTM7.09%

Profit (Net Income) CAGR

10Y6.1%
5Y3.48%
3Y3.96%
TTM-2.51%

EPS CAGR

10Y6.77%
5Y3.58%
3Y4.14%
TTM-2.17%

ROCE

10Y Avg16.19%
5Y Avg14.66%
3Y Avg14.49%
Latest12.14%

Peer Comparison

Industrial Pumps & Valves
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
GHMGraham Corporation808.38M73.5766.2813.13%6%10.71%0.66%0.06
HLIOHelios Technologies, Inc.2.08B62.9153.77-3.55%4.18%3.68%4.56%0.55
SPXCSPX Technologies, Inc.10.65B213.6149.7913.94%10.34%10.41%2.33%0.48
IRIngersoll Rand Inc.34.5B87.3242.395.22%7.31%5.35%3.62%0.49
FLSFlowserve Corporation9.74B76.6235.805.49%9.66%19.48%3.53%0.82
PHParker-Hannifin Corporation119.19B944.5834.83-0.4%18.18%26.41%2.8%0.69
GRCThe Gorman-Rupp Company1.39B52.8734.560.02%7.41%12.4%3.99%1.04
KAIKadant Inc.3.85B327.2834.529.99%10.33%11.29%3.48%0.38

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+2.02B2.11B2.29B2.48B2.49B2.35B2.76B3.18B3.27B3.27B
Revenue Growth %-0.06%0.05%0.08%0.09%0%-0.06%0.18%0.15%0.03%-0%
Cost of Goods Sold+1.08B1.13B1.22B1.32B1.22B1.19B1.4B1.59B1.65B1.75B
COGS % of Revenue0.53%0.53%0.53%0.53%0.49%0.51%0.51%0.5%0.5%0.54%
Gross Profit+941.32M984.87M1.07B1.17B1.27B1.16B1.36B1.59B1.62B1.52B
Gross Margin %0.47%0.47%0.47%0.47%0.51%0.49%0.49%0.5%0.5%0.46%
Gross Profit Growth %-0.05%0.05%0.09%0.09%0.09%-0.09%0.18%0.17%0.02%-0.07%
Operating Expenses+510.41M533.69M566.04M581.72M672.09M621.13M707.5M804.9M872.1M819.8M
OpEx % of Revenue0.25%0.25%0.25%0.23%0.27%0.26%0.26%0.25%0.27%0.25%
Selling, General & Admin476.81M494.29M523.64M533.72M523.29M490.63M573.2M648.1M696.2M749M
SG&A % of Revenue0.24%0.23%0.23%0.21%0.21%0.21%0.21%0.2%0.21%0.23%
Research & Development33.6M39.4M42.4M48M148.8M130.5M133M156.8M175.9M178.6M
R&D % of Revenue0.02%0.02%0.02%0.02%0.06%0.06%0.05%0.05%0.05%0.05%
Other Operating Expenses0000001.3M00-107.8M
Operating Income+430.91M451.17M503.04M584.17M601.75M536.79M654M789.5M750.7M696.9M
Operating Margin %0.21%0.21%0.22%0.24%0.24%0.23%0.24%0.25%0.23%0.21%
Operating Income Growth %-0.04%0.05%0.11%0.16%0.03%-0.11%0.22%0.21%-0.05%-0.07%
EBITDA+509.03M538.07M587.25M661.72M678.62M620.28M757M909.2M902.8M872.5M
EBITDA Margin %0.25%0.25%0.26%0.27%0.27%0.26%0.27%0.29%0.28%0.27%
EBITDA Growth %-0.03%0.06%0.09%0.13%0.03%-0.09%0.22%0.2%-0.01%-0.03%
D&A (Non-Cash Add-back)78.12M86.89M84.22M77.54M76.88M83.5M103M119.7M152.1M175.6M
EBIT426.95M420.98M506.82M579.55M570.92M521.11M617.5M790.1M812M683.8M
Net Interest Income+-34.61M-52.47M-51.54M-50.61M-38.01M-50.77M-37.7M-40.7M-51.7M-44.5M
Interest Income0000000000
Interest Expense34.61M52.47M51.54M50.61M38.01M50.77M37.7M40.7M51.7M44.5M
Other Income/Expense-38.56M-82.66M-47.77M-55.23M-68.84M-66.45M-74.2M-40.1M9.6M-57.6M
Pretax Income+392.35M368.51M455.27M528.94M532.9M470.34M579.8M749.4M760.3M639.3M
Pretax Margin %0.19%0.17%0.2%0.21%0.21%0.2%0.21%0.24%0.23%0.2%
Income Tax+109.54M97.4M118.02M118.37M107.38M92.56M130.5M162.7M164.7M134.7M
Effective Tax Rate %0.72%0.74%0.74%0.78%0.8%0.8%0.78%0.78%0.78%0.79%
Net Income+282.81M271.11M337.26M410.57M425.52M377.8M449.4M586.9M596.1M505M
Net Margin %0.14%0.13%0.15%0.17%0.17%0.16%0.16%0.18%0.18%0.15%
Net Income Growth %0.01%-0.04%0.24%0.22%0.04%-0.11%0.19%0.31%0.02%-0.15%
Net Income (Continuing)282.81M271.11M337.26M410.57M425.52M377.78M449.3M586.7M595.6M504.6M
Discontinued Operations0000000000
Minority Interest00000123K0300K-200K-600K
EPS (Diluted)+3.623.534.365.295.574.945.887.727.856.64
EPS Growth %0.05%-0.02%0.24%0.21%0.05%-0.11%0.19%0.31%0.02%-0.15%
EPS (Basic)3.653.574.415.375.634.995.917.757.886.67
Diluted Shares Outstanding77.97M76.76M77.33M77.56M76.45M76.4M76.4M76M75.9M75.9M
Basic Shares Outstanding77.13M75.8M76.23M76.41M75.59M75.74M76M75.7M75.6M75.7M
Dividend Payout Ratio0.34%0.38%0.33%0.31%0.35%0.4%0.36%0.3%0.32%0.41%

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+862.68M822.72M1B1.09B1.26B1.66B1.68B1.4B1.45B1.59B
Cash & Short-Term Investments328.02M235.96M375.95M466.41M632.58M1.03B900.7M430.2M534.3M620.8M
Cash Only328.02M235.96M375.95M466.41M632.58M1.03B855.4M430.2M534.3M620.8M
Short-Term Investments00000045.3M000
Accounts Receivable260M272.81M294.17M312.19M298.19M293.15M356.4M442.8M427.8M465.9M
Days Sales Outstanding46.9647.1246.9445.8843.6345.547.0550.7947.6952.02
Inventory239.12M252.86M259.72M280M293.47M289.91M370.4M470.9M420.8M429.7M
Days Inventory Outstanding80.8681.8177.8277.5587.7588.6496.34108.2793.0289.52
Other Current Assets35.54M61.09M74.2M33.94M37.21M48.32M50.5M55.4M63.4M76.3M
Total Non-Current Assets+1.94B2.33B2.4B2.38B2.55B2.76B3.24B4.11B4.42B5.15B
Property, Plant & Equipment240.94M247.82M258.35M281.22M280.32M298.27M327.3M382.1M548.6M460.4M
Fixed Asset Turnover8.39x8.53x8.85x8.83x8.90x7.88x8.45x8.33x5.97x7.10x
Goodwill1.4B1.63B1.7B1.7B1.78B1.9B2.17B2.64B2.84B3.25B
Intangible Assets287.84M435.5M414.75M383.33M388.03M415.56M597.3M947.8M1.01B1.28B
Long-Term Investments-110.48M-166.43M-137.64M-128.01M-146.57M-163.86M100K300K-291.9M0
Other Non-Current Assets17.45M16.31M18.33M15.77M104.38M147.76M142.5M-119.9M310.6M155.7M
Total Assets+2.81B3.15B3.4B3.47B3.81B4.41B4.92B5.51B5.87B6.75B
Asset Turnover0.72x0.67x0.67x0.72x0.65x0.53x0.56x0.58x0.56x0.48x
Asset Growth %-0.04%0.12%0.08%0.02%0.1%0.16%0.11%0.12%0.06%0.15%
Total Current Liabilities+309.6M309.16M360.98M364.66M357.88M399.06M480M543.6M500.3M629.7M
Accounts Payable128.91M128.93M147.07M143.2M138.46M151.99M178.8M208.9M179.7M197.8M
Days Payables Outstanding43.5941.7144.0639.6641.446.4746.5148.0339.7341.21
Short-Term Debt1.09M1.05M258K483K388K100K00600K100.7M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K0
Other Current Liabilities86.07M73.83M74.4M84.82M84.29M49.44M93.2M105.8M106.7M175.4M
Current Ratio2.79x2.66x2.78x3.00x3.52x4.15x3.50x2.57x2.89x2.53x
Quick Ratio2.01x1.84x2.06x2.23x2.70x3.43x2.72x1.71x2.05x1.85x
Cash Conversion Cycle84.2387.2280.783.7789.9887.6796.89111.03100.99100.33
Total Non-Current Liabilities+1.05B1.3B1.15B1.11B1.19B1.48B1.63B1.93B1.82B2.32B
Long-Term Debt839.71M1.01B858.79M848.34M848.86M1.04B1.19B1.47B1.33B1.86B
Capital Lease Obligations00011.62M69.93M94.25M93.4M96.6M98.1M0
Deferred Tax Liabilities110.48M166.43M137.64M128.01M146.57M163.86M196.4M264.2M291.9M267.2M
Other Non-Current Liabilities98.6M118.79M152.39M123.57M125.31M142.19M121.8M84.2M91.3M181.6M
Total Liabilities1.36B1.61B1.51B1.48B1.55B1.87B2.11B2.47B2.32B2.95B
Total Debt+840.79M1.02B859.05M848.82M934.41M1.16B1.3B1.59B1.45B1.99B
Net Debt512.78M779.32M483.1M382.41M301.83M129.6M445.9M1.16B911.5M1.37B
Debt / Equity0.58x0.66x0.46x0.43x0.41x0.45x0.46x0.52x0.41x0.52x
Debt / EBITDA1.65x1.89x1.46x1.28x1.38x1.86x1.72x1.75x1.60x2.28x
Net Debt / EBITDA1.01x1.45x0.82x0.58x0.44x0.21x0.59x1.27x1.01x1.57x
Interest Coverage12.45x8.60x9.76x11.54x15.83x10.57x17.35x19.40x14.52x15.66x
Total Equity+1.44B1.54B1.89B1.99B2.26B2.54B2.8B3.04B3.54B3.79B
Equity Growth %-0.03%0.07%0.22%0.06%0.14%0.12%0.1%0.08%0.17%0.07%
Book Value per Share18.5120.1124.4025.7029.6033.2536.6939.9946.6649.99
Total Shareholders' Equity1.44B1.54B1.89B1.99B2.26B2.54B2.8B3.04B3.54B3.79B
Common Stock902K902K902K901K899K901K900K900K900K900K
Retained Earnings1.67B1.83B2.06B2.34B2.62B2.84B3.13B3.53B3.93B4.23B
Treasury Stock-757.42M-787.31M-799.67M-957.45M-985.91M-1.06B-1.05B-1.18B-1.19B-1.17B
Accumulated OCI-146.5M-201.65M-89.51M-129.22M-127.34M-13.53M-69.6M-126.2M-45.8M-130.9M
Minority Interest00000123K0300K-200K-600K

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+360.32M399.92M432.75M479.35M528.1M569.3M565.3M557.4M716.7M668.1M
Operating CF Margin %0.18%0.19%0.19%0.19%0.21%0.24%0.2%0.18%0.22%0.2%
Operating CF Growth %-0.02%0.11%0.08%0.11%0.1%0.08%-0.01%-0.01%0.29%-0.07%
Net Income282.81M271.11M337.26M410.57M425.5M377.8M449.3M586.7M595.6M504.6M
Depreciation & Amortization78.12M86.89M84.22M77.54M76.9M83.5M103M119.7M152.1M175.6M
Stock-Based Compensation20.05M20.33M24.41M24.75M22.1M14.8M20.4M21.6M21.8M25.8M
Deferred Taxes-339K-17.31M-33.74M-4.34M6.6M8.2M-6.1M-18.5M-14.7M-19.4M
Other Non-Cash Items-11.48M33.25M23.43M-10.55M24.8M9.9M16.7M-16.7M-70.9M-1.5M
Working Capital Changes-8.84M5.65M-2.81M-18.63M-27.8M75.1M-18M-135.4M32.8M-17M
Change in Receivables8.83M302K-15.8M-23.42M22.3M20.9M-49.4M-71.7M20.5M-16.9M
Change in Inventory4.56M32.75M760K-23.03M-3.32M36.5M-46.1M-72.4M66.2M17.6M
Change in Payables-2.83M73K12.56M-1.22M-9.12M2.7M22.9M17.6M-25.3M8.9M
Cash from Investing+-210.49M-509.2M-54.75M-81.43M-137M-172.6M-698.1M-917.2M-283.8M-1.01B
Capital Expenditures-43.78M-38.24M-43.86M-56.09M-50.9M-51.6M-72.7M-68M-89.9M-65.1M
CapEx % of Revenue0.02%0.02%0.02%0.02%0.02%0.02%0.03%0.02%0.03%0.02%
Acquisitions----------
Investments----------
Other Investing621K-20K5.48M-5.14M1.1M2.1M-2.8M7.3M3.5M-6.5M
Cash from Financing+-295.53M46.55M-277.42M-290.01M-227.6M-42.6M-9.5M-37.8M-344.7M465.9M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-96.17M-102.65M-111.17M-127.48M-147.2M-151.8M-161.1M-177.4M-190.7M-205.3M
Share Repurchases----------
Other Financing19.48M25.07M30.44M22.68M24.4M20.8M-11.3M-1.8M-1.3M-2.4M
Net Change in Cash----------
Free Cash Flow+316.55M361.68M388.89M419.26M477.2M517.7M492.6M489.4M626.8M603M
FCF Margin %0.16%0.17%0.17%0.17%0.19%0.22%0.18%0.15%0.19%0.18%
FCF Growth %-0.01%0.14%0.08%0.08%0.14%0.08%-0.05%-0.01%0.28%-0.04%
FCF per Share4.064.715.035.416.246.786.456.448.267.94
FCF Conversion (FCF/Net Income)1.27x1.48x1.28x1.17x1.24x1.51x1.26x0.95x1.20x1.32x
Interest Paid33.5M37.07M36.82M36.33M36.7M35.2M36M37.1M50.8M47.4M
Taxes Paid112.61M109.4M104.85M90.73M109M87.2M118.2M175.6M199.5M171.4M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)19.31%18.15%19.66%21.17%19.99%15.73%16.82%20.09%18.12%13.77%
Return on Invested Capital (ROIC)17.02%15.81%16.08%18.47%18.27%15.38%16.57%15.91%13.02%10.88%
Gross Margin46.58%46.61%46.74%46.94%51.06%49.24%49.24%50.11%49.57%46.4%
Net Margin14%12.83%14.74%16.53%17.06%16.07%16.25%18.45%18.21%15.45%
Debt / Equity0.58x0.66x0.46x0.43x0.41x0.45x0.46x0.52x0.41x0.52x
Interest Coverage12.45x8.60x9.76x11.54x15.83x10.57x17.35x19.40x14.52x15.66x
FCF Conversion1.27x1.48x1.28x1.17x1.24x1.51x1.26x0.95x1.20x1.32x
Revenue Growth-5.92%4.57%8.25%8.58%0.44%-5.73%17.57%15.09%2.89%-0.16%

Revenue by Segment

2015201620172018201920202021202220232024
Health And Science Technologies739M744.81M820.13M896.42M914.45M895.96M1.12B1.34B1.32B1.3B
Health And Science Technologies Growth-0.79%10.11%9.30%2.01%-2.02%25.21%19.38%-1.70%-1.39%
Fluid And Metering Technologies860.79M849.1M880.96M951.55M957.03M896.3M998.7M1.17B1.25B1.23B
Fluid And Metering Technologies Growth--1.36%3.75%8.01%0.58%-6.35%11.42%16.88%6.84%-1.11%
Fire And Safety Diversified Products423.92M520.01M587.53M637.03M626.77M562.85M647.9M679.2M718.8M744.3M
Fire And Safety Diversified Products Growth-22.67%12.99%8.42%-1.61%-10.20%15.11%4.83%5.83%3.55%

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES1.02B1.07B1.16B-1.26B1.16B1.34B1.65B1.64B1.62B
UNITED STATES Growth-5.13%8.58%---7.47%15.15%23.25%-0.48%-1.30%
Europe490.44M517.18M567.28M-593.4M573.92M699.7M735.2M820.4M796.5M
Europe Growth-5.45%9.69%---3.28%21.92%5.07%11.59%-2.91%
Asia325.51M340.62M366.58M-430.18M424.45M495.5M523.3M535.5M571M
Asia Growth-4.64%7.62%---1.33%16.74%5.61%2.33%6.63%
North America, Excluding United States85.85M84.84M93.42M-106.32M97.34M113.8M132.6M126.3M132.4M
North America, Excluding United States Growth--1.18%10.12%---8.44%16.91%16.52%-4.75%4.83%
Other Geographical Areas----111.09M96.1M119.8M143.6M157M-
Other Geographical Areas Growth------13.50%24.67%19.87%9.33%-
Other Countries103.6M103.07M101.14M-------
Other Countries Growth--0.51%-1.87%-------

Frequently Asked Questions

Valuation & Price

IDEX Corporation (IEX) has a price-to-earnings (P/E) ratio of 29.4x. This suggests investors expect higher future growth.

Growth & Financials

IDEX Corporation (IEX) reported $3.42B in revenue for fiscal year 2024. This represents a 86% increase from $1.84B in 2011.

IDEX Corporation (IEX) saw revenue decline by 0.2% over the past year.

Yes, IDEX Corporation (IEX) is profitable, generating $478.1M in net income for fiscal year 2024 (15.4% net margin).

Dividend & Returns

Yes, IDEX Corporation (IEX) pays a dividend with a yield of 1.39%. This makes it attractive for income-focused investors.

IDEX Corporation (IEX) has a return on equity (ROE) of 13.8%. This is reasonable for most industries.

IDEX Corporation (IEX) generated $584.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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