---
title: IDEX (IEX) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/iex
ticker: IEX
as_of: 2026-10-18
sector: Industrials
industry: Industrial - Machinery
---
# IDEX (IEX)

IDEX (IEX) closed at $235.55 on Oct 16, 2026, overvalued by 71% vs its model value of $137.56 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $235.55 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $137.56 |
| Price vs model | overvalued by 71% vs model |
| Range of that model | $88.39 – $298.33 |
| Market value | $17.4B |
| P/E (fiscal 2025) | 36.7 |
| Net margin (fiscal 2025) | 14.0% |
| Free cash flow (fiscal 2025) | $616.8M |
| Dividend yield (trailing twelve months) | 1.23% |
| Beta | 0.96 |
| Cost of capital (WACC) | 8.62% |
| Business classification | Mature & Stable (Low/slowing growth (~3% recent), Moderate margins (14% net margin), Pays dividends, Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.23% |
| Dividends per share, last 12 months | $2.90 |
| Dividends / free cash flow (fiscal 2025) | 34.5% |
| Raised | 16 years in a row |
| Growth over 5 years | 6.5% a year |
| Latest payment | $0.73, ex-date Oct 2, 2026, paid Oct 16, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 14, 2021 | $2.12 |
| To Oct 13, 2022 | $2.34 |
| To Oct 12, 2023 | $2.52 |
| To Oct 11, 2024 | $2.71 |
| To Oct 10, 2025 | $2.82 |
| Trailing twelve months (to Oct 2, 2026) | $2.90 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 18, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $137.56 | $88.39 | $298.33 |
| DCF · Perpetuity growth · 10y | cross check | $145.25 | $96.32 | $302.36 |
| DCF · EBITDA exit · 5y | cross check | $175.35 | $124.68 | $234.93 |
| DCF · EBITDA exit · 10y | cross check | $175.65 | $123.04 | $245.46 |
| P/E · peers | cross check | $185.09 | $180.91 | $191.24 |
| P/E · own history | cross check | $222.67 | $204.87 | $254.23 |
| PEG | sanity check | $151.33 | $151.33 | $151.33 |
| EV/EBITDA · peers | cross check | $206.93 | $197.24 | $217.51 |
| EV/Revenue · peers | cross check | $157.14 | $134.76 | $192.66 |
| Earnings power value | cross check | $66.09 | $53.85 | $83.48 |
| Dividend discount | cross check | $67.93 | $46.74 | $111.01 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($91,859); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 16, 2026 | Tereso Tara M. | Group Executive, HST | Tax withholding | 290 | $64,623.6 |
| Sep 16, 2026 | Simmons William L. | Group Executive, FMT & FSDP | Tax withholding | 218 | $48,579.1 |
| Sep 11, 2026 | Tereso Tara M. | Group Executive, HST | Tax withholding | 138 | $30,561.5 |
| Aug 29, 2026 | Lausas Allison S | VP, Chief Accounting Officer | Tax withholding | 645 | $148,530.6 |
| Aug 12, 2026 | Anderson Lisa M | SVP, GC, CAO & Corp Sec | Option/RSU exercise | 385 | $35,909 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 3, 2026 | 8-K | 1.01 Entry into a Material Agreement; 2.03 Creation of a Direct Financial Obligation; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/832101/000119312526381880/d421581d8k.htm |
| Aug 17, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/832101/000119312526354040/d371988d8k.htm |
| Jul 29, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/832101/000083210126000022/iex-20260630.htm |
| Jul 29, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/832101/000083210126000019/iex-20260729.htm |
| May 8, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/832101/000083210126000012/iex-20260506.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Wallace Weitz | 2026-06-30 | 252,400 | $57.3M |
| Mairs & Power | 2026-06-30 | 4,000 | $907,800 |

2 tracked managers in all.

## About

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…

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Source: https://sweetvaluelab.com/stocks/iex (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.