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IDEX Corporation — Intrinsic Value & Fair Price

IEX
NYSEIndustrialsIndustrial - MachineryCIK 0000832101idexcorp.comAbout IEX
Last close · Oct 16, 2026235.55−0.87 (−0.37%)
Market cap$17.4B
Model value · DCF · Perpetuity growth · 5y
137.56
IDEX closed at $235.55 — overvalued by 71% vs model.
88.39the model's range298.33

DCF · Perpetuity growth · 5y leads for mature & stable — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
66.09 – 222.67
Wall St. target
268.00 12% below
Above model, 1y
20 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
1.23%
Past 2 years
low 1.15%high 1.78%
Dividends per share, a year at a time
$2.12Oct ’21$2.34Oct ’22$2.52Oct ’23$2.71Oct ’24$2.82Oct ’25$2.90TTM
Dividends / free cash flow, FY2025
34.5%
Raised
16 years in a row
Growth, 5 yrs
6.5% a year
Last change
+2.8% · May 2026
Every payment, with ex-dates · latest $0.73, paid Oct 16, 2026

Research on IEX

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How it is valued

Valued asMature & Stable
Low/slowing growth (~3% recent)Moderate margins (14% net margin)Pays dividendsHighly cyclical earnings
What growth the price implies: the reverse DCF

Key figures

FY2025
P/E
36.7×
EV / EBITDA
20.6×
FCF yield
3.5%
Dividend yield, TTM
1.23%
Beta
0.96
Cost of capital (WACC)
8.62%
Full financials

Analyst actions

third-party, quoted
09-09Oppenheimer · target270.00
09-08Vertical Research · target250.00
08-12Mizuho · “Outperform” from “Neutral”upgrade
08-11Mizuho Securities · target280.00
Ratings, targets and estimates

Comparable companies

by business, not by industry label
3 more companies list IEX as a comparable

The weekly

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About IDEX

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. Its applications span the food, chemical, general industrial, water management, agricultural, and energy industries. Under the HST umbrella, IDEX develops and supplies precision components and systems for health and scientific applications. This includes advanced fluidic devices, various types of pumps (rotary lobe, centrifugal, positive displacement), roll compaction and drying technologies, pneumatic components, and sealing solutions, as well as biocompatible medical devices, optical components, and precision photonic solutions. Key markets for this segment encompass food and beverage, pharmaceutical, cosmetics, marine, chemical, wastewater treatment, life sciences, research, and defense. Finally, the FSDP segment delivers critical equipment for emergency services, such as firefighting pumps, valves, rescue tools, and lifting bags. It also provides engineered stainless steel banding and clamping devices for industrial and commercial use, alongside specialized precision equipment for dispensing, metering, and mixing colorants and paints for retail and commercial clients. IDEX Corporation was founded in 1987 and maintains its headquarters in Northbrook, Illinois.

CEO
Eric D. Ashleman
Headquarters
Northbrook, IL
Employees
8,700
IPO
1989-06-02
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.