Upside case
Bull case
$377+67.5%
IEX would need investors to value it at roughly 44x earnings — about 18x more generous than today's 26x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewHoldUpdated Jun 18, 2026
IDEX Corporation (IEX) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Hold
Covering
29
analysts
14 bullish · 0 bearish · 29 covering IEX
Strong Buy
0
Buy
14
Hold
15
Sell
0
Strong Sell
0
Consensus Target
$245
+8.8% vs today
Scenario Range
$180 – $377
Model bear to bull value window
Coverage
29
Published analyst ratings
Valuation Context
26.5x
Forward P/E · Market cap $16.7B
IEX price targets
Three scenarios for where IEX stock could go
Current
~$225
Confidence
57 / 100
Updated
Jun 18, 2026
Where we are now
Current · $225
Bear
$180
Base
$286
Bull
$377
Market caseClosest to today
Base case
$286+27.1%
At 34x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$180-19.9%
If investor confidence fades or macro conditions deteriorate, a 5x multiple contraction could push IEX down roughly 20% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
IDEX Corporation
IEX · NYSEIndustrialsIndustrial - MachineryDecember year-end
IDEX Corporation is a diversified industrial manufacturer that designs and produces highly engineered fluidics, metering, and safety equipment. It generates revenue through three main segments — Fluid & Metering Technologies (~40%), Health & Science Technologies (~35%), and Fire & Safety/Diversified Products (~25%) — selling pumps, valves, seals, and safety systems to industrial, medical, and fire protection customers. The company's competitive advantage lies in its deep application expertise across niche industrial markets and its portfolio of proprietary, mission-critical components that are difficult to replace.
Market Cap
$16.7B
Revenue TTM
$3.5B
Net Income TTM
$508M
Net Margin
14.4%
IEX Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
42%Exceptional
vs consensus estimates
Avg EPS Surprise
+4.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$2.07/$2.00
Revenue
$865M/$872M
Q4 2025
EPS
$2.03/$1.93
Revenue
$879M/$861M
Q1 2026
EPS
$2.10/$2.04
Revenue
$899M/$882M
Q2 2026
EPS
$2.00/$1.78
Revenue
$887M/$846M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $2.07/$2.00 | +3.5% | $865M/$872M | -0.8% |
| Q4 2025 | $2.03/$1.93 | +5.2% | $879M/$861M | +2.0% |
| Q1 2026 | $2.10/$2.04 | +2.9% | $899M/$882M | +1.9% |
| Q2 2026 | $2.00/$1.78 | +12.4% | $887M/$846M | +4.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$3.7B
+5.1% YoY
FY2
$3.9B
+4.3% YoY
EPS Outlook
FY1
$7.78
+14.0% YoY
FY2
$8.39
+7.8% YoY
Trailing FCF (TTM)$611M
FCF Margin: 17.3%
Next Earnings
July 29, 2026
Expected EPS
$2.12
Expected Revenue
$905M
IEX beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
IEX Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $3.5B
Product Mix
Latest annual revenue by segment or product family
Health And Science Technologies
43.2%
+15.2% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
53.4%
+8.6% YoY
Tap, hover, or focus a slice to inspect segment detail.
Health And Science Technologies is the largest disclosed segment at 43.2% of FY 2025 revenue, up 15.2% YoY.
UNITED STATES is the largest reported region at 53.4%, up 8.6% YoY.
IEX Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Slightly expensive versus peers
Fair value est. $181 — implies -19.5% from today's price.
Premium to Fair Value
19.5%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
IEX
35.1x
vs
S&P 500
24.4x
+44% premium
vs Industrials Trailing P/E
IEX
35.1x
vs
Industrials
25.6x
+37% premium
vs IEX 5Y Avg P/E
Today
35.1x
vs
5Y Average
31.3x
+12% premium
Forward PE
26.5x
S&P 500
18.8x
+41%
Industrials
21.2x
+25%
5Y Avg
—
—
Trailing PE
35.1x
S&P 500
24.4x
+44%
Industrials
25.6x
+37%
5Y Avg
31.3x
+12%
PEG Ratio
6.56x
S&P 500
1.66x
+295%
Industrials
1.65x
+298%
5Y Avg
—
—
EV/EBITDA
19.4x
S&P 500
15.2x
+27%
Industrials
13.9x
+40%
5Y Avg
19.9x
-3%
Price/FCF
27.1x
S&P 500
20.7x
+31%
Industrials
20.0x
+35%
5Y Avg
29.3x
-7%
Price/Sales
4.8x
S&P 500
3.1x
+56%
Industrials
1.6x
+210%
5Y Avg
5.2x
-6%
Dividend Yield
1.26%
S&P 500
1.91%
-34%
Industrials
1.21%
+3%
5Y Avg
1.19%
+5%
| Metric | IEX | S&P 500 | Industrials | 5Y Avg IEX |
|---|---|---|---|---|
| Forward PE | 26.5x | 18.8x+41% | 21.2x+25% | — |
| Trailing PE | 35.1x | 24.4x+44% | 25.6x+37% | 31.3x+12% |
| PEG Ratio | 6.56x | 1.66x+295% | 1.65x+298% | — |
| EV/EBITDA | 19.4x | 15.2x+27% | 13.9x+40% | 19.9x |
| Price/FCF | 27.1x | 20.7x+31% | 20.0x+35% | 29.3x |
| Price/Sales | 4.8x | 3.1x+56% | 1.6x+210% | 5.2x |
| Dividend Yield | 1.26% | 1.91% | 1.21% | 1.19% |
IEX trades above S&P 500 benchmarks on 6 of 6 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolIEX Financial Health
Verdict
Strong
IEX generates $611M in free cash flow at a 17.3% margin — 10.4% ROIC signals a durable competitive advantage · returns 2.7% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$3.5B
Revenue Growth
TTM vs prior year
+7.5%
Gross Margin
Gross profit as a share of revenue
44.4%
Operating Margin
Operating income divided by revenue
20.8%
Net Margin
Net income divided by revenue
14.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$6.82
Free Cash Flow (TTM)
Cash generation after capex
$611M
FCF Margin
FCF as share of revenue — the primary cash quality signal
17.3%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
10.4%
ROA
Return on assets, trailing twelve months
7.3%
Cash & Equivalents
Liquid assets on the balance sheet
$580M
Net Debt
Total debt minus cash
$1.2B
Debt Serviceability
Net debt as a multiple of annual free cash flow
2.0× FCF
~2.0 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
12.6%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.7%
Dividend
1.3%
Buyback
1.5%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$248M
Dividend / Share
Annualized trailing dividend per share
$2.82
Payout Ratio
Share of earnings distributed as dividends
44.0%
Shares Outstanding
Declining as buybacks retire shares
74M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageIEX Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
Medium
Valuation de-rating
The stock has a Hold rating with a modest implied upside, suggesting limited near-term growth potential.
High Risk
Market concentration risk
IDEX operates in specialized markets, making it vulnerable to downturns in these high-growth but niche segments.
Medium
Dependence on OEMs
The company relies heavily on original equipment manufacturers, exposing it to supply chain and demand fluctuations.
Lower
Competitive pressures
Despite strong brand recognition, IDEX faces competition in fluidics, optics, and industrial markets.
High Risk
Economic cyclicality
As a global industrial company, IDEX is susceptible to macroeconomic downturns impacting infrastructure and manufacturing sectors.
Medium
Execution risk
The company's growth depends on effective coordination across its global platform, which may face operational challenges.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why IEX Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Mission-critical solutions provider
IDEX delivers essential engineered products in high-growth, specialized markets, supporting modern everyday life and industrial applications.
Diverse business segments
The company operates through three primary segments, offering precision components and systems to OEMs and end-use customers across various industries.
Leadership in fluidics and optics
IDEX Health & Science is a global authority in advanced optofluidic technologies, leveraging its engineering expertise and product portfolio.
Strong financial performance
IDEX reported robust Q1 2026 sales of $886.9 million and net income of $120 million, exceeding expectations and demonstrating financial resilience.
Consistent dividend payments
The company announced its 126th consecutive quarterly dividend, reflecting a commitment to shareholder returns and financial stability.
Recognized brand portfolio
IDEX owns well-known brands in pumps, flow meters, and compressors, positioning it as a preferred supplier in growing infrastructure markets.
Growth in Health & Science
The Health & Science Technologies segment showed strong momentum, contributing significantly to the company's overall performance in Q1 2026.
Global industrial presence
IDEX operates as a global industrial company, manufacturing fluidics systems, optics, and specialty equipment with a wide market reach.
Market-focused expertise
The company coordinates its global platform to deliver tailored solutions quickly, from concept to production, meeting diverse customer needs.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
IEX Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$224.93
52W Range Position
95%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$157.25
+43.0% from the low
52-Week High
$228.26
-1.5% from the high
1 Month
+7.81%
3 Month
+18.28%
YTD
+25.6%
1 Year
+28.5%
3Y CAGR
+3.1%
5Y CAGR
+1.2%
10Y CAGR
+10.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
IEX vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
26.5x
vs 20.1x median
+31% above peer median
Revenue Growth
+5.1%
vs +5.5% median
-7% below peer median
Net Margin
14.4%
vs 11.5% median
+25% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
IEX IEX IDEX Corporation | $16.7B | 26.5x | +5.1% | 14.4% | Hold | +8.8% |
ROP ROP Roper Technologies, Inc. | $34.0B | 15.1x | +8.1% | 21.1% | Buy | +38.6% |
FTV FTV Fortive Corporation | $18.8B | 20.4x | 0.0% | 11.5% | Hold | +1.6% |
PNR PNR Pentair plc | $12.0B | 13.9x | +2.6% | 16.0% | Hold | +44.6% |
XYL XYL Xylem Inc. | $26.5B | 20.1x | +6.0% | 10.7% | Hold | +36.0% |
FEL FELE Franklin Electric Co., Inc. | $4.6B | 22.7x | +5.5% | 6.9% | Hold | -4.0% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
IEX Dividend and Capital Return
IEX returns 2.7% annually — 1.26% through dividends and 1.5% through buybacks.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
2.7%
Dividend + buyback return per year
Buyback Yield
1.5%
Dividend Yield
1.26%
Payout Ratio
44.0%
How IEX Splits Its Return
Div 1.26%
Buyback 1.5%
Dividend 1.26%Buybacks 1.5%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$2.82
Growth Streak
Consecutive years of dividend increases
16Y
3Y Div CAGR
6.4%
5Y Div CAGR
7.1%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$248M
Estimated Shares Retired
1M
Approx. Share Reduction
1.5%
Shares Outstanding
Current diluted share count from the screening snapshot
74M
At 1.5%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $1.44 | — | — | — |
| 2025 | $2.82 | +4.1% | 1.8% | 3.4% |
| 2024 | $2.71 | +7.5% | 0.0% | 1.3% |
| 2023 | $2.52 | +7.7% | 0.1% | 1.3% |
| 2022 | $2.34 | +10.4% | 0.9% | 1.9% |
FAQ
7 questionsIEX Investor Questions
Common questions answered from live analyst data and company financials.
01Is IDEX Corporation (IEX) stock a buy or sell in 2026?
IDEX Corporation (IEX) is rated Hold by Wall Street analysts as of 2026. Of 29 analysts covering the stock, 14 rate it Buy or Strong Buy, 15 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $245, implying +8.8% from the current price of $225. The bear case scenario is $180 and the bull case is $377.
02What is the IEX stock price target for 2026?
The Wall Street consensus price target for IEX is $245 based on 29 analyst estimates. The high-end target is $257 (+14.3% from today), and the low-end target is $214 (-4.9%). The base case model target is $286.
03Is IDEX Corporation (IEX) stock overvalued in 2026?
IEX trades at 26.5x times forward earnings. The stock trades at a notable premium to the broad market, which is typical for businesses with strong free cash flow and above-average growth expectations. Based on current multiples versus the peer group, the relative model signals slightly expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for IDEX Corporation (IEX) stock in 2026?
The primary risks for IEX in 2026 are: (1) Market concentration risk — IDEX operates in specialized markets, making it vulnerable to downturns in these high-growth but niche segments. (2) Economic cyclicality — As a global industrial company, IDEX is susceptible to macroeconomic downturns impacting infrastructure and manufacturing sectors. (3) Valuation de-rating — The stock has a Hold rating with a modest implied upside, suggesting limited near-term growth potential. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is IDEX Corporation's revenue and earnings forecast?
Analyst consensus estimates IEX will report consensus revenue of $3.7B (+5.1% year-over-year) and EPS of $7.78 (+14.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $3.9B in revenue.
06When does IDEX Corporation (IEX) report its next earnings?
IDEX Corporation is expected to report its next earnings on approximately 2026-07-29. Consensus expects EPS of $2.12 and revenue of $905M. Over recent quarters, IEX has beaten EPS estimates 100% of the time.
07How much free cash flow does IDEX Corporation generate?
IDEX Corporation (IEX) generated $611M in free cash flow over the trailing twelve months — a free cash flow margin of 17.3%. IEX returns capital to shareholders through dividends (1.3% yield) and share repurchases ($248M TTM).