Idex Corp

Industrials
Fluid Controls
www.idexcorp.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $16.65B
PE 34
Debt $2.09B
Cash $651.30M
EV $18.09B
FCF $625.30M

Earnings

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Sales & Net Margins

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Earnings	$489.70M
EBIT	$652.10M
ROE	13%
ROA	9%
FCF	$625.30M
Equity	$3.82B
Growth Stability	97%
PE	34
PEG	3.1
PB	4.36
P/FCF	26.63
P/S	5.21
Price/Cash	0.04
Debt/Equity	0.55
Debt/FCF	3.34
Net Margins	16%
Gross Margins	44%
Op. Margins	20%
Earnings CAGR	10%
Sales Growth YoY	1%
Sales Growth QoQ	-1%
Sales CAGR	6%
FCF CAGR	7%
Equity CAGR	11%
Earnings Stability	0.85
Earnings Growth YoY	-43%
Earnings Growth QoQ	-16%
Earnings CAGR 5Y	11%

Sales CAGR 5Y	9%
FCF CAGR 5Y	6%
Equity CAGR 5Y	12%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	15%
Equity CAGR 3Y	13%
Market Cap	$16.65B
Revenue	$3.19B
Dividend Yield	1%
Payout Ratio	42%
Assets	$6.97B
Total Debt	$2.09B
Cash	$651.30M
Shares Outstanding	75.7M
EV	18.09B
Earnings Score	92%
Moat Score	92%
Safety Score	90%
Final Score	91%
Working Capital	1.11B
Current Ratio	2.97
Gross Profit	$1.41B
Shares Growth 3y	-0%
Equity Growth QoQ	5%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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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 $2.8 billion in revenue and $661 million in adjusted operating income in 2021.

SEC Filings

Direct access to Idex Corp (IEX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Idex Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Idex Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 10%

Stability 85%

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Idex Corp Discounted Cash Flow

Fully customizable DCF calculator online for Idex Corp .

Years

Calculation mode

= $10B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$625M	$670M	$718M	$770M	$825M	$884M	$947M	$1B	$1.1B	$1.2B	$1.2B	$12B
DCF		$609M	$593M	$578M	$563M	$549M	$535M	$521M	$507M	$494M	$481M	$4.8B
Value	$10B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	14%	13%	15%	17%	17%	16%	16%	18%	18%	16%
ROA	-	13%	15%	16%	15%	12%	13%	14%	13%	9%
ROE	-	18%	18%	21%	19%	15%	16%	19%	17%	13%

Good Net Margins (15.85%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	2.83	2.22	2.01	1.78	2.03	2.44	3.02	2.13	3.34
Debt over Equity	0.59	0.66	0.46	0.43	0.38	0.41	0.43	0.49	0.38	0.55
Growth Stability	-	-	-	100%	100%	97%	100%	100%	100%	97%

Neutral Debt/FCF ratio (3.34)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.55)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (97%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	5%	8%	9%	0%	-6%	18%	15%	3%	9%
Earnings YoY growth	-	-4%	24%	22%	4%	-11%	19%	31%	2%	11%
Equity YoY growth	-	7%	22%	6%	13%	12%	10%	8%	17%	12%
FCF YoY growth	-	14%	8%	9%	13%	9%	-5%	-1%	28%	6%