olivLaw · US equity research
IDEX Corporation IEX
Pumps & Pumping Equipment · SIC 3561 · Vertical: Pumps & Pumping Equipment (SIC 3561)
IDEX is an applied solutions provider that designs pumps, valves, metering systems, health and science technologies and fire-fighting equipment for niche markets. It reported record fiscal 2025 net sales of about 3457.5 million USD, and in the second quarter of 2026 orders grew faster, drawing attention to demand from advanced markets such as data centers and semiconductors.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, IDEX Corporation (IEX) stock was 233.69 USD (−1.55% on the day), with market capitalisation 17.2 bn USD, P/E 32.4 on diluted EPS of 7.21 USD over the last 12 months, dividend yield 1.24%, beta 0.84, 52-week range 161.68–240.52 USD. Latest reported quarter (Q3 2026): revenue of 951.7 m USD (+8.3% YoY), net income of 144.1 m USD (+12.8% YoY), diluted EPS 1.95 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 50.3
- neutral
- Bollinger (20, 2)
- 228.32 – 240.83
- in the lower half of the band · %B 0.43 · band width 5.3%
- SMA 50 / 200
- 230.31 / 216.83
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.26 / 1.29
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −0.7% | −1.1% | +0.4 pp | — |
| 3 months | −1.4% | −0.5% | −0.9 pp | — |
| 6 months | +7.1% | +4.4% | +2.7 pp | — |
| Year to date | +31.3% | +12.3% | +19.0 pp | — |
| 1 year | +39.2% | +13.5% | +25.7 pp | +11.5% |
| 3 years | +19.7% | +76.4% | −56.7 pp | +98.9% |
| 5 years | −0.3% | +63.7% | −64.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 862.9 m | 814.3 m | 865.4 m | 878.7 m | 899.1 m | 886.9 m | 920.6 m | 951.7 m |
| Cost of revenue | 495.8 m | 445.4 m | 473.2 m | 488.1 m | 512.0 m | 488.8 m | 493.8 m | 522.2 m |
| Gross profit | 367.1 m | 368.9 m | 392.2 m | 390.6 m | 387.1 m | 398.1 m | 426.8 m | 429.5 m |
| SG&A | 197.9 m | 209.4 m | 203.6 m | 204.7 m | 201.1 m | 218.3 m | 224.1 m | 218.1 m |
| Operating income | 165.3 m | 142.0 m | 187.9 m | 185.8 m | 183.6 m | 172.4 m | 199.9 m | 208.0 m |
| Pre-tax income | 151.2 m | 124.5 m | 169.9 m | 170.5 m | 167.7 m | 157.0 m | 186.1 m | 192.7 m |
| Income tax | 28.0 m | 29.1 m | 38.8 m | 42.8 m | 39.4 m | 37.1 m | 42.7 m | 48.7 m |
| Net income | 123.2 m | 95.5 m | 131.6 m | 127.8 m | 128.3 m | 120.0 m | 143.4 m | 144.1 m |
| Diluted EPS | 1.62 ≈ | 1.26 | 1.74 | 1.70 | 1.72 ≈ | 1.61 | 1.93 | 1.95 |
| Operating cash flow | 172.6 m | 105.7 m | 161.7 m ≈ | 203.5 m ≈ | 209.5 m | 103.7 m | 200.0 m ≈ | 239.5 m ≈ |
| Capex | 15.5 m | 14.3 m | 14.8 m ≈ | 14.8 m ≈ | 19.7 m | 17.7 m | 23.0 m ≈ | 25.2 m ≈ |
| Dividends paid | 52.3 m | 52.4 m | 53.5 m ≈ | 53.5 m ≈ | 53.2 m | 52.8 m | 53.9 m ≈ | 54.0 m ≈ |
| Share repurchases | 0 | 50.0 m | 50.0 m ≈ | 75.0 m ≈ | 72.8 m | 76.3 m | 77.1 m ≈ | 74.6 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 82 percentile of its own 44-quarter history (min 21.1, median 29.1, max 41.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.5 bn | 2.5 bn | 2.4 bn | 2.8 bn | 3.2 bn | 3.3 bn | 3.3 bn | 3.5 bn |
| Revenue YoY | +8.6% | +0.4% | −5.7% | +17.6% | +15.1% | +2.9% | −0.2% | +5.8% |
| Net income | 410.6 m | 425.5 m | 377.8 m | 449.4 m | 586.9 m | 596.1 m | 505.0 m | 483.2 m |
| Net income YoY | +21.7% | +3.6% | −11.2% | +19.0% | +30.6% | +1.6% | −15.3% | −4.3% |
| Diluted EPS | 5.29 | 5.56 | 4.94 | 5.88 | 7.71 | 7.85 | 6.64 | 6.41 |
| Diluted EPS YoY | +21.3% | +5.1% | −11.2% | +19.0% | +31.1% | +1.8% | −15.4% | −3.5% |
| net % | 16.5% | 17.1% | 16.1% | 16.3% | 18.4% | 18.2% | 15.4% | 14.0% |
| Free cash flow | 423.3 m | 477.2 m | 517.7 m | 492.6 m | 489.4 m | 626.8 m | 603.0 m | 616.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 580.0 m USD
- Financial debt
- 1.8 bn USD
- Net debt
- 1.2 bn USD
- Equity
- 4.0 bn USD
- Total assets
- 6.9 bn USD
- Debt / equity
- 0.45x
- Current ratio
- 2.86x
- ROE
- 12.4%
- ROA
- 7.1%
- FCF margin
- 17.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.4 bn | 2.8 bn | 3.2 bn | 3.3 bn | 3.3 bn | 3.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Cost of revenue | 1.3 bn | 1.5 bn | 1.8 bn | 1.8 bn | 1.8 bn | 1.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Gross profit | 1.0 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.5 bn | SEC (XBRL)· 19 Feb 2026verified |
| Research & development | 48.2 m | 50.1 m | 61.4 m | 68.4 m | 67.4 m | 70.0 m | SEC (XBRL)· 19 Feb 2026verified |
| SG&A | 494.9 m | 578.2 m | 652.7 m | 703.5 m | 758.7 m | 818.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | 520.7 m | 637.0 m | 751.4 m | 732.5 m | 677.2 m | 699.3 m | SEC (XBRL)· 19 Feb 2026verified |
| Depreciation & amortisation | 83.5 m | 103.0 m | 119.7 m | 152.1 m | — | — | SEC (XBRL)· 22 Feb 2024verified |
| EBITDA | 604.2 m ≈ | 740.0 m ≈ | 871.1 m ≈ | 884.6 m ≈ | — | — | SEC (XBRL)· 22 Feb 2024derived |
| Interest expense | 44.8 m | 41.0 m | 40.7 m | 51.7 m | — | — | SEC (XBRL)· 22 Feb 2024verified |
| Pre-tax income | 470.3 m | 579.8 m | 749.4 m | 760.3 m | 639.3 m | 632.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 92.5 m | 130.5 m | 162.7 m | 164.7 m | 134.7 m | 150.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Net income | 377.8 m | 449.4 m | 586.9 m | 596.1 m | 505.0 m | 483.2 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | 4.94 | 5.88 | 7.71 | 7.85 | 6.64 | 6.41 | SEC (XBRL)· 19 Feb 2026verified |
| Weighted average diluted shares | 76.4 m | 76.4 m | 76.0 m | 75.9 m | 75.9 m | 75.3 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividend per share | 2.00 | 2.16 | 2.40 | 2.56 | 2.76 | 2.84 | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.0 bn | 855.4 m | 430.2 m | 534.3 m | 620.8 m | 580.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | 288.3 m | 354.9 m | 431.3 m | 419.0 m | 461.0 m | 511.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Inventories | 289.9 m | 370.4 m | 470.9 m | 420.8 m | 429.7 m | 479.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 1.7 bn | 1.7 bn | 1.4 bn | 1.4 bn | 1.6 bn | 1.6 bn | SEC (XBRL)· 19 Feb 2026verified |
| Property, plant & equipment, net | 298.3 m | 327.3 m | 382.1 m | 430.3 m | 460.4 m | 468.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 1.9 bn | 2.2 bn | 2.6 bn | 2.8 bn | 3.3 bn | 3.4 bn | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 415.6 m | 597.3 m | 947.8 m | 1.0 bn | 1.3 bn | 1.2 bn | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 4.4 bn | 4.9 bn | 5.5 bn | 5.9 bn | 6.7 bn | 6.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Short-term debt | 88.0 k | 0 | 0 | 600.0 k | 100.7 m | 700.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Long-term debt | 1.0 bn | 1.2 bn | 1.5 bn | 1.3 bn | 1.9 bn | 1.8 bn | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 399.0 m | 480.0 m | 543.6 m | 500.3 m | 629.7 m | 575.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 1.9 bn | 2.1 bn | 2.5 bn | 2.3 bn | 3.0 bn | 2.9 bn | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 2.5 bn | 2.8 bn | 3.0 bn | 3.5 bn | 3.8 bn | 4.0 bn | SEC (XBRL)· 19 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 569.3 m | 565.3 m | 557.4 m | 716.7 m | 668.1 m | 680.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 51.6 m | 72.7 m | 68.0 m | 89.9 m | 65.1 m | 63.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | 517.7 m ≈ | 492.6 m ≈ | 489.4 m ≈ | 626.8 m ≈ | 603.0 m ≈ | 616.8 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | -172.6 m | -698.1 m | -917.2 m | -283.8 m | -1.0 bn | -137.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | -42.6 m | -9.5 m | -37.8 m | -344.7 m | 465.9 m | -632.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Dividends paid | 151.8 m | 161.1 m | 177.4 m | 190.7 m | 205.3 m | 212.6 m | SEC (XBRL)· 19 Feb 2026verified |
| Share repurchases | 110.3 m | 0 | 148.1 m | 24.2 m | 0 | 247.8 m | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 52 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 17.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet100
- Valuation44
- Quality72
- Growth12
- Returns66
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 37.32 – 283.96 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E161.81 – 283.96 (Mid 189.90)5 companies used · median multiple 26.3x · quartiles 22.5x – 39.4xFLS, GGG, GRC, ITT, XYL
- Dividend discount (DDM)37.32 – 50.19 (Mid 42.81)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 52/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.1% | 50 (vs peers) | 14% |
| Net margin · Quality | 14.6% | 80 (vs peers) | 9% |
| FCF conversion · Quality | 124.5% | 100 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 2.8% | 23 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -6.0% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.8x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 32.4x | 40 (vs peers) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 3.9% | 49 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 3.0% | 43 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 32.1% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth12/100 · 2/2 factors with a value
- Quality72/100 · 3/3 factors with a value
- Returns66/100 · 2/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
IDEX CORP (IEX). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 3.5 bn USD in 2025; YoY growth 5.8%; net margin 14.6%; ROE 13.3%.
The estimated value range is 99.57–167.08 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 116.35 USD, the price of 233.69 USD leaves a potential of -50.2% (value / price − 1) and a margin of safety of -100.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 52/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 14.6%
- FCF conversion: 124.5%
- Current ratio: 2.8x
- Payout ratio (FCF): 32.1%
What contradicts it
- Revenue CAGR 3Y: 2.8%
- EPS CAGR 3Y: -6.0%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Pumps & Pumping Equipment (SIC 3561) · same industry (4-digit SIC) · compared with 6 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| XYLXylem Inc. | 23.2 bn | 22.3 | 10.1% | 11.9% | +5.5% | −28% / −4% |
| ITTItt Inc. | 18.0 bn | 39.4 | 11.5% | 8.9% | +8.5% | +9% / +86% |
| IEXIdex Corp | 17.2 bn | 32.4 | 13.3% | 14.6% | +5.8% | +39% / +20% |
| GGGGraco Inc. | 11.2 bn | 22.5 | 20.4% | 22.4% | +5.8% | −15% / −14% |
| FLSFlowserve Corp | 10.3 bn | 40.7 | 11.1% | — | unavailable | +14% / +112% |
| GRCThe Gorman-Rupp Company | 2.0 bn | 26.3 | 17.0% | 10.2% | +3.4% | +59% / +134% |
| APAmpco-Pittsburgh Corp | 142.8 m | — | -126.3% | -13.8% | +3.8% | +167% / +149% |
1- and 3-year price returns: for IEX from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 137.42 Total return -40% · Per year -40% | 243.15 Total return 5% · Per year 5% | 366.53 Total return 58% · Per year 58% |
| 3 years | 128.87 Total return -42% · Per year -17% | 257.00 Total return 14% · Per year 4% | 426.00 Total return 87% · Per year 23% |
| 5 years | 120.85 Total return -44% · Per year -11% | 271.63 Total return 23% · Per year 4% | 495.12 Total return 121% · Per year 17% |
- Exit P/E± 64.25
- Net margin± 44.97
- Annual revenue growth± 37.53
- Annual dilution± 3.78
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (28 Oct 2026 · results).
In brief
IDEX is an applied solutions provider that designs pumps, valves, metering systems, health and science technologies and fire-fighting equipment for niche markets. It reported record fiscal 2025 net sales of about 3457.5 million USD, and in the second quarter of 2026 orders grew faster, drawing attention to demand from advanced markets such as data centers and semiconductors 123.
SWOT
Strengths
- A niche portfolio with leading positions in many products, a structure of highly autonomous businesses and a demonstrated ability to generate strong cash flow 1.
- Clear capital discipline, with consistent returns to shareholders and acquisitions integrated into the growth strategy 1.
- Solid recent results in the second quarter of 2026, with record orders and raised guidance 23.
Weaknesses
Opportunities
Risks
- Dependence on industrial marketsmedium
If industrial demand stays weak, volumes in FMT and FSDP could keep declining, affecting profitability 12.
- Acquisition risksmedium
Acquisitions can bring unexpected liabilities and integration difficulties, and an execution failure could affect financial results 1.
- Tariff uncertaintyhigh
New tariffs imposed after the Supreme Court decision could raise material costs and reduce margins, particularly in segments with international supply chains 2.
- Cybersecuritymedium
Cyberattacks and data breaches could cause production interruptions, financial losses and penalties as compliance requirements increase 1.
- Raw material and component costslow
Changes in price or availability of raw materials and components could affect costs and margins, particularly amid supply chain disruptions 1.
Investment thesis
What would need to be true (bull case)
- Higher volumes in the HST segment, supported by data centers and semiconductors, could keep improving revenue and margins 2.
- The raised organic sales and adjusted EPS guidance for 2026 points to better visibility in the second half of the year 3.
- Free cash flow generation and the strategy of repurchases and dividends could support shareholder returns over time 1.
What would break the thesis
- Industrial and automotive markets have not clearly recovered, and demand in chemical, energy and agriculture remains weak, which could limit growth in FMT and FSDP 12.
- Uncertainty over tariffs and customer rebates could weigh on sales and margins in coming periods 2.
- Higher interest costs and acquisition amortization already reduced fiscal 2025 results, and another wave of acquisitions could add to this pressure 1.
What to watch
- Demand trends in HST, especially from data centers and semiconductorsQ3 2026
- Delivery against guidance for organic sales and adjusted EPS2026
- Impact of new tariffs after the Supreme Court decision on marginsQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 29 Jul 2026; since then the company filed 10-Q (28 Oct 2026), 8-K (28 Oct 2026 · results).
The business
The business profile is diversified across industries, from biopharma and laboratory analysis to wastewater, agriculture and fire safety, which reduces dependence on a single economic cycle, although industrial and automotive segments have not yet clearly recovered according to the company outlook 1.
Segments
Fluid & Metering Technologies (FMT)
The segment produces positive displacement pumps, valves, flow meters and monitoring systems for water, energy and agriculture, at about 35% of segment net sales in 2025 1. Growth was more modest in the second quarter of 2026, with sales up 2%, and demand in chemical, energy and agricultural markets was weaker 2.
Fire & Safety/Diversified Products (FSDP)
The segment includes fire pumps, rescue equipment, paint dispensing systems and BAND-IT stainless steel banding, at about 22% of segment net sales in 2025 1. For 2026 the company expects near-term pressure from weak Fire & Safety markets outside the United States, and sales edged down in the second quarter 12.
Market context
IDEX serves niche markets where demand depends on industrial activity, capacity utilization and capital investment. The company points to strong demand from data centers, semiconductors, space and defense, and food and pharmaceutical markets as advantaged segments 1. Industrial and automotive markets have not yet recovered meaningfully, and demand in chemical, energy and agricultural applications is being monitored as softer 1.
Market dynamics are also shaped by trade policy. The U.S. Supreme Court invalidated IEEPA tariffs in February 2026, and the company collected the anticipated refunds, which also produced customer rebates that reduced sales 2. New tariffs imposed under other authority could further affect costs and margins 2.
Competitive position
The company describes competition risk as significant: competitors could develop superior products or adopt new technologies, including artificial intelligence, more quickly, and pricing pressure could reduce margins 1. The markets IDEX serves are generally competitive, and holding its position requires continued investment in manufacturing, engineering and distribution 1.
The company differentiates itself through specialized solutions for critical applications and through the autonomy of its businesses, but the intensity of competition varies by segment, and in pumps, valves and dispensing equipment competition is strong 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Is IDEX Corporation Stock Outperforming the S&P 500?Yahoo Finance — News · 22 Sept 2026 · EN
- Are Wall Street Analysts Predicting IDEX Stock Will Climb or Sink?Yahoo Finance — News · 27 Aug 2026 · EN
- JPMorgan Is Leading Race for French Cooling Network Provider IdexBloomberg Markets · 01 Jul 2026 · EN
The latest news item in our archive is from 22 Sept 2026; the newest SEC filing is from 28 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report28 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Current report03 Sept 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report17 Aug 2026Departure or appointment of officers
- Quarterly report29 Jul 2026
- Current report29 Jul 2026Results of operations · Financial statements and exhibits
- Current report08 May 2026Shareholder vote · Financial statements and exhibits
- Quarterly report29 Apr 2026
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement26 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / IDEX Corporation · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / IDEX Corporation · 29 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / IDEX Corporation · 29 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.