IDEX Corporation (IEX)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn high returns on capital and sell at a sensible price. IDEX is a diversified industrial with three segments - Health & Science Technologies, Fluid & Metering Technologies, and Fire & Safety/Diversified Products - and 8,700 employees. It is not a fly-by-night operation: FairStock's Piotroski F-Score is 8/9 and Altman Z-Score is 4.96, leverage is modest with D/E of 0.47, and trailing free cash flow is $641.5M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $920.6M, net income $143.4M, and diluted EPS $1.93, better than fiscal Q2 2025, the quarter ended 2025-06-30, when revenue was $865.4M, net income $131.6M, and diluted EPS $1.74. That is encouraging. But the longer record is mixed. In fiscal year 2025 (period ended 2025-12-31), revenue was $3.5B, net income $483.2M, and diluted EPS $6.41. That is below fiscal year 2024's (period ended 2024-12-31) $505.0M and $6.64, and well below fiscal year 2023's (period ended 2023-12-31) $596.1M and $7.85. FairStock classifies IDEX as a Slow Grower, with 5.0% annual profit growth and 8.0% revenue growth over five years. ROCE is only 6.84%, so the moat is not obviously wide. At the 2026-10-13 close of $237.19, FairStock shows a P/E of 34.08, P/B of 4.38, PEG of 3.80, EV/EBITDA of 19.58, and FCF yield of 3.7%. The Graham Number is $91.91, a margin of safety of -158.07%. For a slow grower, that is a rich price. I would need either much faster profit growth or a lower price before calling it a bargain.

In plain English: IDEX makes specialized pumps, fluid systems, and safety products for industrial, medical, and other customers. The business is financially solid and had a stronger recent quarter, but profits have slipped over the past few years and growth has been slow. At the recent price, the shares look expensive compared with the company's earnings and cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer