IDEX CORP /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data IDEX CORP /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,113	2,287	2,484	2,495	2,352	2,765	3,182	3,274	3,269	3,458
Cost of revenue	1,182	1,261	1,366	1,370	1,324	1,540	1,755	1,827	1,824	1,919
Gross profit	931	1,027	1,118	1,125	1,027	1,225	1,427	1,447	1,445	1,539
Research and development	39.4	42.4	48	56.4	48.2	50.1	61.4	68.4	67.4	70
Selling, general and administrative	492	525	537	525	495	578	653	704	759	819
Operating income	412	503	569	579	521	637	751	733	677	699
Interest expense	45.6	44.9	44.1	44.3	44.8	41	40.7	51.7
Other non-operating income	1.73	-2.39	3.99	-1.8	-5.6	-16.2	3.9	-5.2	2.6	-2.3
Pre-tax income	369	455	529	533	470	580	749	760	639	633
Income tax	97.4	118	118	107	92.5	131	163	165	135	150
Net income to minority interests				0	0	-0.1	-0.2	-0.5	-0.4	-0.7
Net income	271	337	411	426	378	449	587	596	505	483
EBITDA	499	587	647	656	604	740	871	885	746	775
EPS, basic	3.57	4.41	5.36	5.62	4.98	5.91	7.74	7.87	6.66	6.41
EPS, diluted	3.53	4.36	5.29	5.56	4.94	5.88	7.71	7.85	6.64	6.41
Shares, basic (weighted)	75.8	76.2	76.4	75.6	75.7	76	75.7	75.6	75.7	75.3
Shares, diluted (weighted)	76.8	77.3	77.6	76.5	76.4	76.4	76	75.9	75.9	75.3
Dividend per share	1.36	1.48	1.72	2.00	2.00	2.16	2.40	2.56	2.76	2.84

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	236	376	466	633	1,026	855	430	534	621	580
Receivables	273	294	314	298	288	355	431	419	461	512
Inventory	253	260	280	293	290	370	471	421	430	479
Other current assets	61.1	74.2	33.9	37.2	48.3	95.8	55.4	63.4	76.3	62.1
Total current assets	823	1,004	1,093	1,261	1,657	1,678	1,399	1,446	1,593	1,643
Property, plant and equipment	248	258	281	280	298	327	382	430	460	468
Lease right-of-use assets				82.4	107	107	110	118	125	120
Goodwill	1,633	1,704	1,698	1,780	1,896	2,168	2,638	2,838	3,252	3,415
Intangible assets	436	415	383	388	416	597	948	1,012	1,285	1,247
Other non-current assets	16.3	18.3	18.8	104	148	147	145	139	156	154
Total assets	3,155	3,400	3,474	3,814	4,414	4,917	5,512	5,865	6,745	6,927
Accounts payable	129	147	143	138	152	179	209	180	198	225
Accrued liabilities	153	185	188	180	209	260	289	272	279	297
Deferred revenue	12.6	11	8.06	17.6	28.4	49	44.7	55.9	50.7	45.8
Short-term debt	1.05	0.26	0.48	0.39	0.09	0	0	0.6	101	0.7
Total current liabilities	309	361	365	358	399	480	544	500	630	575
Long-term debt	1,014	859	848	849	1,044	1,190	1,469	1,325	1,860	1,820
Lease liabilities			0	69.9	94.3	93.4	96.6	98.1	102	94.1
Other non-current liabilities	121	156	138	197	267	247	196	207	195	202
Total liabilities	1,611	1,513	1,479	1,551	1,874	2,114	2,472	2,324	2,951	2,901
Total debt	1,021	862	851	851	1,050	1,200	1,478	1,333	1,971	1,830
Paid-in capital	697	717	738	760	775	796	817	839	865	892
Retained earnings	1,835	2,058	2,342	2,615	2,842	3,127	3,532	3,934	4,230	4,500
Treasury stock	-787	-800	-957	-986	-1,064	-1,050	-1,184	-1,187	-1,170	-1,423
Other comprehensive income	-202	-89.5	-129	-127	-13.5	-69.6	-126	-45.8	-131	57.6
Shareholders' equity	1,544	1,887	1,995	2,263	2,540	2,803	3,039	3,541	3,795	4,028
Minority interests				0	0.1	0	0.3	-0.2	-0.6	-1.3
Total equity	1,544	1,887	1,995	2,263	2,540	2,803	3,040	3,541	3,794	4,026
Total liabilities and equity	3,155	3,400	3,474	3,814	4,414	4,917	5,512	5,865	6,745	6,927

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	271	337	411	426	378	449	587	596	505	483
Depreciation and amortization	86.9	84.2	77.5	76.9	83.5	103	120	152	68.5	75.8
Stock-based compensation	20.3	24.4	24.8	22.1	14.8	20.4	21.6	21.8	25.8	27.3
Deferred income tax	-17.3	-33.7	-4.35	6.6	8.2	-6.1	-18.5	-14.7	-19.4	12.8
Change in receivables	0.3	-15.8	-23.4	22.3	20.9	-49.4	-71.7	20.5	-16.9	-41.2
Change in inventory	32.7	0.76	-23	-3.3	36.5	-46.1	-72.4	66.2	17.6	-34.2
Cash from operations	400	433	479	528	569	565	557	717	668	680
Capital expenditures	-38.2	-43.9	-56.1	-50.9	-51.6	-72.7	-68	-89.9	-65.1	-63.6
Acquisitions	-510	-38.2	-20.2	-87.2	-123	-577	-946	-312	-985	-76.2
Purchases of investments				0	0	-45.2	0	-29	0	0
Sales and maturities of investments					0	0	39.7	24.8	4.5	0
Cash from investing	-509	-54.7	-81.4	-137	-173	-698	-917	-284	-1,007	-138
Debt issued			0	0	499	499	200	100	497	0
Debt repaid	0	0	0	-50.1	-300	-350	0	-250	-50	-100
Stock issued	30.2	22.9	27.6	38.8	44.6	19.7	19.3
Share buybacks	-57.3	-29.1	-174	-54.7	-110	0	-148	-24.2	0	-248
Dividends paid	-103	-111	-127	-147	-152	-161	-177	-191	-205	-213
Cash from financing	46.5	-277	-290	-228	-42.6	-9.5	-37.8	-345	466	-633
Exchange rate effect	-29.3	39.4	-17.4	2.7	39.2	-28.2	-27.6	15.9	-22.9	36.8
Net change in cash	-92.1	140	90.5	166	393	-171	-425	104	105	-53
Free cash flow	362	389	423	477	518	493	489	627	603	617
Interest paid	37.1	36.8	36.3	36.7	35.2	36	37.1	50.8	47.4	72.2
Income taxes paid	109	105	90.7	109	87.2	118	176	200	171	135

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $230.08 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	44.7%	Gross profit / revenue.
Operating margin	20.7%	Operating income / revenue.
EBITDA margin	22.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	19.0%	Pre-tax income / revenue.
Net margin	14.5%	Net income / revenue.
FCF margin	17.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.0%	Cash from operations / revenue.
Effective tax rate	23.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.5%	Net income / average total assets.
Return on invested capital (ROIC)	10.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	23.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.1%	Capital expenditures / revenue.
D&A / revenue	2.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	8.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	3.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-2.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	6.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	3.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	5.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-4.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-6.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	5.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-3.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-6.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	5.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	1.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	6.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	2.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	8.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	3.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.9%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	5.8%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	7.3%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	6.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	9.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	7.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	9.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.05x	Current assets / current liabilities.
Quick ratio	2.00x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.07x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.47x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	26.9%	Total debt / total assets.
Liabilities / assets	42.2%	Total liabilities / total assets.
Net debt	$1.25B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.52x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.19B	Current assets - current liabilities.
Goodwill and intangibles / assets	65.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$539.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	7.73x	Revenue / average property, plant and equipment.
Inventory turnover	3.81x	Cost of revenue / average inventory.
Days inventory	96 days	365 x average inventory / cost of revenue.
Receivables turnover	6.59x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	108 days	Days inventory + days sales outstanding - days payables.
FCF conversion	123.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	10.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$48.32	Revenue / diluted weighted shares.
FCF per share	$8.65	Free cash flow / diluted weighted shares.
Operating cash flow per share	$9.66	Cash from operations / diluted weighted shares.
Book value per share	$54.02	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$7.27	Tangible book value / shares outstanding.
Cash per share	$8.37	(Cash + short-term investments) / shares outstanding.
Payout ratio	41.1%	Dividends paid / net income, when net income is positive.
Dividends / FCF	33.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	47.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$16.96B	Share price x shares outstanding.
Enterprise value	$18.21B	Market cap + total debt - cash - short-term investments.
P/E	32.6x	Market cap / net income. Only when net income is positive.
P/S	4.73x	Market cap / revenue.
P/B	4.23x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	26.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	23.7x	Market cap / cash from operations, when positive.
EV/Sales	5.08x	Enterprise value / revenue.
EV/EBIT	24.5x	Enterprise value / operating income, when both are positive.
EV/EBITDA	22.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	28.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.8%	Free cash flow / market cap.
Earnings yield	3.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	3.0%	(Dividends paid + share buybacks) / market cap.

What was IDEX CORP /DE/'s revenue in fiscal 2025?

IDEX CORP /DE/ reported revenue of $3.46B for fiscal 2025, 5.8% higher than the year before.

Was IDEX CORP /DE/ profitable in fiscal 2025?

Yes. Net income was $483.2M, a net margin of 14%.

How much free cash flow did IDEX CORP /DE/ generate in fiscal 2025?

Cash from operations of $680.4M minus capital expenditures of $63.6M left free cash flow of $616.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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