IDEX Corporation
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Range $240 – $280
Price Chart
About the company
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 Fire & Safety/Diversified Products (FSDP). The FMT division is responsible for the design, production, and distribution of a range of fluid-handling equipment, including positive displacement pumps, flow meters, and injectors, alongside offering flow monitoring and related services.
- CEO
- Eric D. Ashleman
- IPO
- 1989
- Employees
- 8,700
- HQ
- Northbrook, IL, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $17.35B
- P/E
- 33.76
- Fwd P/E
- 26.64
- PEG
- 2.68
- P/S
- 4.84
- P/B
- 4.34
- EV/EBITDA
- 20.58
- Div Yield
- 1.23%
- Gross Margin
- 44.70%
- Op Margin
- 20.75%
- Net Margin
- 14.49%
- ROE
- 12.91%
- ROIC
- 8.90%
Latest fiscal year · YoY change
- Revenue
- $3.46B+5.8%
- Gross Profit
- $1.54B+1.5%
- Op Income
- $720.00M
- Net Income
- $483.20M-4.3%
- EPS
- $6.41-3.9%
- OCF Growth
- +1.8%
- FCF Growth
- +2.3%
- 52W High
- $243.80
- 52W Low
- $159.27
- 50D MA
- $230.06
- 200D MA
- $211.19
- Beta
- 0.97
- RSI (14)
- 63
- Avg Volume
- 640.70K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
IDEX posted a better-than-expected Q2 with 5% organic growth, margin expansion, and a raised full-year outlook driven by strong orders in Health & Science Technologies.· July 29, 2026
- Organic sales grew 5% and adjusted EPS rose 12% to $2.32, both ahead of expectations.
- Adjusted EBITDA margin expanded 70 bps to 28.1%; adjusted gross margin rose 110 bps to 46.4%.
- Orders were a standout: up 28% organically overall, led by HST’s 47% growth; company orders topped $1 billion.
- Management raised 2026 organic growth guidance to 5%-6% from 3%-4% and EPS guidance to $8.70-$8.85 from $8.35-$8.55.
- Capex is rising to about $110 million, mostly to support growth platforms and capacity for 2027-2028.
Q2 reported organic sales growth was 5%, adjusted EBITDA margin was 28.1% (+70 bps YoY), adjusted gross margin was 46.4% (+110 bps YoY), and adjusted EPS was $2.32 (+12% YoY). Orders grew 28% organically overall, including 47% in HST, 11% in FMT, and 19% in FSDP. The quarter included a $0.08 EPS benefit from IEEPA tariff refunds; excluding that, results still beat the prior guidance range of $2.07 to $2.12. For 2026, IDEX raised organic growth guidance to 5% to 6%, adjusted EBITDA margin to 27% to 27.3%, adjusted EPS to $8.70 to $8.85, and Q3 adjusted EPS guidance to $2.20 to $2.25. Capex guidance increased from $90 million to approximately $110 million.
Eric Ashleman’s tone was upbeat and confident, emphasizing that the quarter showed continued momentum from the first quarter and that the company is seeing the benefits of its growth-platform strategy. He highlighted strong demand in data center, semiconductor, space and defense, as well as signs of improvement in more traditional industrial demand. He also said IDEX is still early in its growth transformation, with 8020, portfolio focus, and selective capital deployment expected to create more value over time.
Sean Gillen focused on the beat versus guidance, the tariff refund mechanics, and the margin flow-through. He said the tariff refunds and related customer rebates created a net $0.08 EPS benefit in Q2, that adjusted EBITDA margin excluding IEEPA was toward the high end of the Q2 range, and that free cash flow was $177 million with liquidity above $1.1 billion. He also noted gross leverage improved to 1.9x from 2.1x a year ago, repurchases were $77 million in the quarter, dividends were $54 million, and the company plans to keep buybacks around $75 million per quarter through the rest of 2026 while flexing for M&A and leverage.
Analysts pressed management on whether the strength in HST and FMT reflects a durable demand inflection or mostly exposure to hot end markets like AI, data center, and space. Management said the strength is real and increasingly supported by backlog, longer lead times, and customer commitments, while also noting that much of IDEX still runs on rapid-replenishment dynamics. Questions also focused on capital allocation and CapEx; management said most of the higher CapEx is in HST for 2027-2028 capacity, and that future buybacks and any larger acquisitions will depend on the M&A pipeline and leverage.
The bull case is that IDEX is seeing genuine traction in its growth-platform strategy, with HST order growth of 47% and a backlog that now gives visibility into 2027 in some areas. Management believes the company is winning share in data center, semiconductor, space and defense, while also seeing early improvement in water, mining, and broader industrial demand. Margin expansion, strong cash flow, and a raised full-year guide suggest the mix shift and operating leverage are starting to show up in the numbers.
The main risks are that a meaningful part of current strength is concentrated in a few advantaged end markets, and management acknowledged it is still early to call a broad industrial recovery. FMT sales were only up 1% and FSDP sales were down 1%, showing the portfolio is not uniformly accelerating. Management also pointed to uncertainty around geopolitics, interest rates, inflation, and the timing of broader short-cycle demand improvement.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.7%
- Shares Outstanding
- 73.72M
- Float Shares
- 73.53M
of shares held by institutions
687 13F filers
Buy/sell ratio 0.17. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for IEX, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Lisa C. McClainHouse · MI09 | Sell | Oct 31, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Sell | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Oct 30, 25 | Filing → |
| Lisa C. McClainHouse · MI09 | Buy | Aug 4, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | Mar 31, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | Feb 24, 25 | Filing → |
| Thomas Hawley TubervilleSenate · AL | Sell | Apr 3, 24 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Aug 3, 23 | Filing → |
| Ro KhannaHouse · CA17 | Sell | May 19, 23 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Sep 6, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | May 5, 22 | Filing → |
| Ro KhannaHouse · CA17 | Sell | May 10, 22 | Filing → |
| Ro KhannaHouse · CA17 | Buy | Feb 14, 22 | Filing → |
| Ro KhannaHouse · CA17 | Sell | Feb 17, 22 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 8.99M | ▼ 100.38K |
| Blackrock, Inc. | 5.73M | ▲ 58.08K |
| Vanguard Capital Management LLC | 4.84M | ▼ 10.29K |
| Vanguard Portfolio Management LLC | 3.73M | ▼ 34.46K |
| State Street Corp | 3.32M | ▲ 112.00K |
| Primecap Management Co | 3.30M | ▼ 2.87K |
| Morgan Stanley | 2.82M | ▼ 279.66K |
| Millennium Management LLC | 2.37M | ▲ 373.89K |
| Geode Capital Management, LLC | 2.10M | ▲ 7.04K |
| Nordea Investment Management Ab | 1.84M | ▼ 31.32K |
| Victory Capital Management Inc | 1.53M | ▲ 14.35K |
| Invesco Ltd. | 1.50M | ▼ 125.95K |
Held by 1,407 ETFs
Biggest fund positions in IEX by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Sep 16, 26 | Tereso Tara M. | other | 290 |
| Sep 16, 26 | Simmons William L. | other | 218 |
| Sep 11, 26 | Tereso Tara M. | other | 138 |
| Aug 29, 26 | Lausas Allison S | other | 645 |
| Aug 12, 26 | Anderson Lisa M | other | 385 |
| Aug 12, 26 | Anderson Lisa M | sell | 385 |
| Aug 12, 26 | Anderson Lisa M | other | 385 |
| May 11, 26 | ASHLEMAN ERIC D | other | 15,385 |
| May 11, 26 | ASHLEMAN ERIC D | sell | 10,470 |
| May 11, 26 | ASHLEMAN ERIC D | sell | 4,915 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our IEX coverage
Recent articles, reports, and earnings notes.
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Federal Signal (NYSE:FSS) and IDEX (NYSE:IEX) Financial Review
defenseworld.net · Sep 30
Are Industrial Products Stocks Lagging IDEX (IEX) This Year?
zacks.com · Sep 28
IDEX Corporation to Webcast Third Quarter 2026 Earnings Call
businesswire.com · Sep 28
IDEX Corporation Declares Regular Quarterly Cash Dividend
gurufocus.com · Sep 16
IDEX Corporation Declares Regular Quarterly Cash Dividend
businesswire.com · Sep 16
Reasons Why Investors Should Consider Investing in IDEX Stock
zacks.com · Sep 14
Is IDEX (IEX) Stock Outpacing Its Industrial Products Peers This Year?
zacks.com · Sep 11
California State Teachers Retirement System Acquires 23,146,156 Shares of IDEX Corporation $IEX
defenseworld.net · Sep 10
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
