“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 ↗
IDEX Corporation
IEX
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.
- Revenue increased 8.9% versus the comparable filing period.
- 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.
Research brief
The story so far
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.
- 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.
No thresholded adverse filing evidence is available yet.
- 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
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- 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.
- Net margin changed -1.5 percentage points in the latest annual period.
- 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.
Price as of Sep 10, 2026
221.49Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“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 ↗
“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 ↗
“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.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
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.
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.