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IDEX Corp IEX

Morningstar Rating
$203.27 −2.98 (1.44%)
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Company Report

Idex Is a Cash Compounder With an Impressive Record of Capital Allocation and Margin Expansion

Idex owns a collection of moaty businesses that tend to be leaders in their niche end markets, typically holding the number-one or -two market share. The company manufactures a wide array of products, ranging from equipment used in DNA sequencing to wastewater pumps to Jaws of Life hydraulic rescue tools. Idex’s Lean manufacturing prowess allows it to effectively operate in a high-mix and low-volume environment, offering customers a wide variety of highly engineered products that are configurable or customizable. A common theme across the businesses is that they specialize in making mission-critical equipment that performs a vital function but typically constitutes a small part of the customer’s total bill of materials. This aspect contributes to Idex’s narrow moat through customer switching costs and allows the firm to command premium pricing.

Price vs Fair Value

IEX is trading at a 474% premium.
Price
$206.20
Fair Value
$247.00
Uncertainty
Medium
1-Star Price
$415.00
5-Star Price
$849.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Idex has a portfolio of moaty businesses that have leading share in niche end markets.

Bears

If industrial production remains sluggish, organic revenue growth may decelerate.

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News

Trading Information

Previous Close Price
$206.25
Day Range
$202.35206.73
52-Week Range
$183.79246.06
Bid/Ask
$203.11 / $203.32
Market Cap
$15.39 Bil
Volume/Avg
158,712 / 474,816

Key Statistics

Price/Earnings (Normalized)
25.74
Price/Sales
4.85
Dividend Yield (Trailing)
1.29%
Dividend Yield (Forward)
1.34%
Total Yield
1.29%

Company Profile

Idex manufactures pumps, flow meters, valves, and fluidic systems for customers in a variety of end markets, including industrial, fire and safety, life science, and water. The firm’s business is organized into three segments: fluid and metering technologies, health and science technologies, and fire and safety and diversified products. Based in Lake Forest, Illinois, Idex has manufacturing operations in over 20 countries and has over 7,000 employees. The company generated $3.3 billion in revenue in 2023.
Sector
Industrials
Industry
Specialty Industrial Machinery
Stock Style Box
Mid Core
Total Number of Employees
8,800

Competitors

Valuation

Metric
IEX
XYL
PH
Price/Earnings (Normalized)
25.7435.7622.12
Price/Book Value
4.333.286.07
Price/Sales
4.854.063.59
Price/Cash Flow
23.4027.3518.91
Price/Earnings
IEX
XYL
PH

Financial Strength

Metric
IEX
XYL
PH
Quick Ratio
2.291.110.46
Current Ratio
3.371.670.87
Interest Coverage
16.3113.547.42
Quick Ratio
IEX
XYL
PH

Profitability

Metric
IEX
XYL
PH
Return on Assets (Normalized)
10.56%6.25%10.78%
Return on Equity (Normalized)
17.83%10.28%30.06%
Return on Invested Capital (Normalized)
13.20%8.33%15.83%
Return on Assets
IEX
XYL
PH
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Specialty Industrial Machinery Industry Comparables

1-Day Chart
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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
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KbkdllgwtNdymbz$70.4 Bil
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QctcplvlfMhhylcl$39.5 Bil
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XYL
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ROK
MbpnggmpHnn$31.1 Bil

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