Latest Ratios: P/E Ratio 34.5x · EV/EBITDA 19.1x · ROE 12.4%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.4B | $13.4B | $15.9B | $16.5B | $17.4B | $18.1B | $15.2B | $13.2B | $9.8B | $10.2B | $6.9B |
| Enterprise Value | $17.7B | $14.6B | $17.3B | $17.4B | $18.5B | $18.5B | $15.3B | $13.5B | $10.2B | $10.7B | $7.7B |
| P/E Ratio → | 34.49 | 27.76 | 31.52 | 27.66 | 29.58 | 40.19 | 40.32 | 30.88 | 23.87 | 30.27 | 25.51 |
| P/S Ratio | 4.75 | 3.88 | 4.86 | 5.03 | 5.45 | 6.53 | 6.47 | 5.27 | 3.94 | 4.46 | 3.27 |
| P/B Ratio | 4.13 | 3.33 | 4.19 | 4.65 | 5.71 | 6.44 | 5.99 | 5.81 | 4.91 | 5.41 | 4.48 |
| P/FCF | 26.65 | 21.72 | 26.34 | 26.29 | 35.46 | 36.65 | 29.40 | 27.56 | 23.36 | 26.24 | 19.11 |
| P/OCF | 24.16 | 19.69 | 23.78 | 22.99 | 31.13 | 31.94 | 26.73 | 24.90 | 20.43 | 23.58 | 17.29 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.23 | 5.28 | 5.31 | 5.82 | 6.69 | 6.53 | 5.39 | 4.10 | 4.67 | 3.64 |
| EV / EBITDA | 19.08 | 15.80 | 19.77 | 19.26 | 20.36 | 24.44 | 24.74 | 19.82 | 15.38 | 18.20 | 14.30 |
| EV / EBIT | 24.55 | 21.00 | 25.23 | 21.42 | 23.43 | 29.96 | 29.45 | 23.56 | 17.56 | 21.09 | 18.27 |
| EV / FCF | — | 23.73 | 28.61 | 27.74 | 37.82 | 37.56 | 29.65 | 28.19 | 24.27 | 27.48 | 21.27 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.5% | 44.5% | 46.4% | 49.6% | 50.1% | 49.2% | 49.2% | 51.1% | 46.9% | 46.7% | 46.6% |
| Operating Margin | 20.8% | 20.8% | 21.3% | 22.9% | 24.8% | 23.7% | 22.8% | 24.1% | 23.5% | 22.0% | 21.4% |
| Net Profit Margin | 14.0% | 14.0% | 15.4% | 18.2% | 18.4% | 16.3% | 16.1% | 17.1% | 16.5% | 14.7% | 12.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.4% | 12.4% | 13.8% | 18.1% | 20.1% | 16.8% | 15.7% | 20.0% | 21.2% | 19.7% | 18.2% |
| ROA | 7.1% | 7.1% | 8.0% | 10.5% | 11.3% | 9.6% | 9.2% | 11.7% | 12.0% | 10.3% | 9.1% |
| ROIC | 10.4% | 10.4% | 10.9% | 13.0% | 15.9% | 16.6% | 15.4% | 18.3% | 18.5% | 16.1% | 15.8% |
| ROCE | 11.6% | 11.6% | 12.1% | 14.5% | 16.8% | 15.5% | 14.4% | 18.3% | 19.0% | 17.1% | 16.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.52 | 0.41 | 0.52 | 0.46 | 0.45 | 0.41 | 0.43 | 0.46 | 0.66 |
| Debt / EBITDA | 1.97 | 1.97 | 2.28 | 1.60 | 1.75 | 1.72 | 1.86 | 1.38 | 1.28 | 1.46 | 1.89 |
| Net Debt / Equity | — | 0.31 | 0.36 | 0.26 | 0.38 | 0.16 | 0.05 | 0.13 | 0.19 | 0.26 | 0.50 |
| Net Debt / EBITDA | 1.34 | 1.34 | 1.57 | 1.01 | 1.27 | 0.59 | 0.21 | 0.44 | 0.58 | 0.82 | 1.45 |
| Debt / FCF | — | 2.01 | 2.26 | 1.45 | 2.36 | 0.91 | 0.25 | 0.63 | 0.91 | 1.24 | 2.15 |
| Interest Coverage | 10.82 | 10.82 | 15.37 | 15.71 | 19.41 | 16.38 | 10.26 | 15.02 | 11.45 | 9.83 | 8.02 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.86 | 2.86 | 2.53 | 2.89 | 2.57 | 3.50 | 4.15 | 3.52 | 3.00 | 2.78 | 2.66 |
| Quick Ratio | 2.02 | 2.02 | 1.85 | 2.05 | 1.71 | 2.72 | 3.43 | 2.70 | 2.23 | 2.06 | 1.84 |
| Cash Ratio | 1.01 | 1.01 | 0.99 | 1.07 | 0.79 | 1.88 | 2.57 | 1.77 | 1.28 | 1.04 | 0.76 |
| Asset Turnover | — | 0.50 | 0.48 | 0.56 | 0.58 | 0.56 | 0.53 | 0.65 | 0.72 | 0.67 | 0.67 |
| Inventory Turnover | 4.00 | 4.00 | 4.08 | 3.92 | 3.37 | 3.79 | 4.12 | 4.16 | 4.71 | 4.69 | 4.46 |
| Days Sales Outstanding | — | 55.07 | 52.02 | 47.69 | 50.79 | 47.05 | 45.50 | 43.63 | 45.88 | 46.94 | 47.12 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.6% | 1.3% | 1.2% | 1.0% | 0.9% | 1.0% | 1.1% | 1.3% | 1.1% | 1.5% |
| Payout Ratio | 44.0% | 44.0% | 40.7% | 32.0% | 30.2% | 35.8% | 40.2% | 34.6% | 31.0% | 33.0% | 37.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.9% | 3.6% | 3.2% | 3.6% | 3.4% | 2.5% | 2.5% | 3.2% | 4.2% | 3.3% | 3.9% |
| FCF Yield | 3.8% | 4.6% | 3.8% | 3.8% | 2.8% | 2.7% | 3.4% | 3.6% | 4.3% | 3.8% | 5.2% |
| Buyback Yield | 1.5% | 1.8% | 0.0% | 0.1% | 0.9% | 0.0% | 0.7% | 0.4% | 1.8% | 0.3% | 0.8% |
| Total Shareholder Yield | 2.8% | 3.4% | 1.3% | 1.3% | 1.9% | 0.9% | 1.7% | 1.5% | 3.1% | 1.4% | 2.3% |
| Shares Outstanding | — | $75M | $76M | $76M | $76M | $76M | $76M | $76M | $78M | $77M | $77M |
Bioprocessing demand volatility
Based on current market data, IDEX trades at a 35.44x TTM P/E, a significant premium to industrial peers like Pentair, suggesting investors are pricing in high-quality, non-cyclical growth expectations that may be difficult to sustain if the HST segment's bioprocessing demand continues to show signs of cooling.
The forward P/E of 26.73 implies that the market expects a return to higher organic growth rates, yet the PEG ratio of 6.63 indicates that current earnings growth is not keeping pace with the valuation multiple. This suggests that the stock is priced for perfection, and any further deceleration in the HST segment could lead to a significant multiple compression.
As reported in financial statements, IDEX's ROIC has remained compressed in the 2.3% to 3.2% range over the last ten quarters, indicating that despite the company's aggressive acquisition strategy, the incremental returns on invested capital are not currently demonstrating the compounding power expected of a high-quality industrial niche player.
The persistent gap between ROIC and the company's cost of capital suggests that recent M&A activity may be dilutive to long-term value creation. Investors should monitor whether management can improve capital allocation efficiency or if the integration of high-priced acquisitions continues to weigh on overall return metrics.
According to recent quarterly filings, IDEX's cash conversion cycle has fluctuated around 100 days, with DIO remaining elevated at 90 days in 2026Q1, reflecting the inherent challenges of managing inventory across diverse, high-mix industrial segments that require significant lead times for specialized precision components.
The inability to meaningfully compress the CCC suggests that the 80/20 operational model may be reaching a point of diminishing returns regarding working capital optimization. This inefficiency ties up significant liquidity and leaves the company vulnerable to inventory obsolescence risks, particularly within the more volatile life science product lines.
Based on reported figures, the P/E ratio is a misleading metric for IDEX because it fails to account for the significant non-cash amortization charges resulting from the company's serial acquisition strategy, which artificially depresses GAAP earnings and makes the valuation appear more expensive than the underlying cash flow suggests.
Analysts should prioritize EV/EBITDA or P/FCF to better assess the company's true earning power, as these metrics normalize for the accounting distortions inherent in a business model built on frequent bolt-on acquisitions. Relying solely on P/E risks misinterpreting the company's ability to generate sustainable cash returns.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying IEX stock.
IDEX Corporation's current P/E ratio is 34.5x. The historical average is 26.2x. This places it at the 90th percentile of its historical range.
IDEX Corporation's current EV/EBITDA is 19.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.4x.
IDEX Corporation's return on equity (ROE) is 12.4%. The historical average is 16.2%.
Based on historical data, IDEX Corporation is trading at a P/E of 34.5x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IDEX Corporation's current dividend yield is 1.28% with a payout ratio of 44.0%.
IDEX Corporation has 44.5% gross margin and 20.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
IDEX Corporation's Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.