Feed / IEX

IDEX Corporation

IEX

Industrials · 223.99 -0.5% today

Isolated · not yet confirmedMarket checked 11 Sept, 12:35 GMT-4

Market read

IDEX Corporation's current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 32 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

What changed
  • Revenue increased 8.9% versus the comparable filing period.
Company-0.5% todayVolume comparison unavailable
Market group0 of 32 activeIndustrial Equipment · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • Filing reports receipt of IEEPA tariff refunds and expected customer rebates that materially affected cash, net sales, and margins in the period.
  • Organic sales rose 5% driven by higher volumes in HST, partially offset by lower volumes in Fire & Safety/Diversified Products; FMT volumes were flat.

Invalidation: The isolated read changes if IEX's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Industrials · Specialty Industrial Machinery

The latest filing evidence is available. 0 of 32 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

Evidence that supports
  • Revenue increased 8.9% versus the comparable filing period.
  • Operating margin improved 2.0 percentage points.
  • Net income increased 25.7% versus the comparable filing period.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Filing reports receipt of IEEPA tariff refunds and expected customer rebates that materially affected cash, net sales, and margins in the period.
  • Organic sales rose 5% driven by higher volumes in HST, partially offset by lower volumes in Fire & Safety/Diversified Products; FMT volumes were flat.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations601
Usable filing statements102
Verified relationships1
Evidence supporting the case
  • Latest annual revenue changed +5.8% year over year.
  • Operating cash flow covered net income at 1.41x in the latest annual period.
  • Demand and volume has repeated favorable evidence across 5 filings.
  • Credit and interest rates has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Net margin changed -1.5 percentage points in the latest annual period.
Questions before a position
  • P/E is 23% below the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 55% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

221.49
6m+13.9%12m+36.7%24m+12.8%
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$2.8B+17.6%$5.88+0.0%
2022-12-31$3.2B+15.1%$7.71-0.5%
2023-12-31$3.3B+2.9%$7.85-0.1%
2024-12-31$3.3B-0.2%$6.64+0.0%
2025-12-31$3.5B+5.8%$6.41-0.8%

What management says matters

Persistent and emerging business drivers

Demand and volumepositive · 5 filings
Organic sales for the same periods both increased 5%, primarily driven by higher volumes in the HST segment, which were partially offset by lower volumes in the Company’s Fire & Safety/Diversified Products (“FSDP”) segment, while volumes in the Company’s Flui…
10-Q · Jul 29, 2026
Credit and interest ratesmixed · 4 filings
Interest Expense – Net Interest expense – net for the three and six months ended June 30, 2026 decreased due to interest income of $0.6 million associated with IEEPA tariff refunds received.
10-Q · Jul 29, 2026
Restructuring and cost reductionsmixed · 3 filings
Adjusted net income attributable to IDEX is calculated as Net income attributable to IDEX, adjusted to exclude the impact of Restructuring expenses and asset impairments and other restructuring-related charges, acquisition-related intangible asset amortizatio…
10-Q · Jul 29, 2026
Capital investment and capacitymixed · 3 filings
Investing Activities Cash used in investing activities increased $18.2 million in the six months ended June 30, 2026 as compared to the prior year period reflecting a $11.6 million increase in capital expenditures and the absence of $4.2 million of funds rece…
10-Q · Jul 29, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 4.8× · EV/sales 5.2×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

223.99-0.5% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 12:35 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for IEX. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-04-29 against the comparable filing from 2025-05-01.

constructive
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationmixed

What improved

  • Revenue increased 8.9% versus the comparable filing period.
  • Operating margin improved 2.0 percentage points.
  • Net income increased 25.7% versus the comparable filing period.

What weakened

No thresholded deterioration was identified.

Filing receipts

Adjusted EBITDA margin for the three months ended March 31, 2026 increased primarily due to volume leverage and favorable price/cost, partially offset by unfavorable mix and the impact of acquisitions.

Adjusted EBITDA margin increased for the three months ended March 31, 2026 primarily due to net productivity improvements, partially offset by unfavorable mix and volume deleverage.

Organic sales for the same period increased 5% primarily driven by higher volumes in the HST segment, which were slightly offset by lower volumes in the Company’s Fire & Safety/Diversified Products (“FSDP”) and Fluid Metering Technologies (“FMT”) segments.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind IEX

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depended on by

CECOCECO Environmental Corp.partnerMar 2, 2026

Johansson led the corporate, product-line, and M&A growth strategy and implementation of a differentiated business line operating model for IDEX Corporation.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

IEX is currently a Follower in the organic co-movement group Industrial Equipment. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.