Sign in

    IDEX Corp (IEX)

    You might also like

    Business Description

    IDEX Corporation is an applied solutions provider specializing in the manufacturing of fluid and metering technologies, health and science technologies, and fire, safety, and other diversified products . The company operates through three main segments, offering a range of products that serve various industries. IDEX's offerings include positive displacement pumps, precision fluidics, and firefighting pumps, catering to markets such as food, life sciences, and fire and rescue .

    1. Health & Science Technologies (HST) - Offers precision fluidics, pneumatic components, and biocompatible medical devices, catering to markets such as life sciences and pharmaceuticals .
    2. Fluid & Metering Technologies (FMT) - Includes products such as positive displacement pumps, valves, and flow meters, serving industries like food, chemical, and energy .
    3. Fire & Safety/Diversified Products (FSDP) - Provides firefighting pumps, rescue tools, and dispensing equipment for paints, serving the fire and rescue industry and various commercial applications .

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    Eric D. AshlemanChief Executive Officer and PresidentDecember 2020Eric D. Ashleman has been serving as the Chief Executive Officer and President of IDEX Corporation since December 2020. He joined IDEX in March 2008 as President of Gast Manufacturing .
    Abhishek KhandelwalSenior Vice President and Chief Financial OfficerNovember 2023Abhishek Khandelwal serves as the Senior Vice President and Chief Financial Officer at IDEX Corporation. He rejoined the company in November 2023 after previously serving in various roles from 2010 to 2020 .
    Lisa M. AndersonSenior Vice President, General Counsel and Corporate SecretaryFebruary 2022Lisa M. Anderson has served as Senior Vice President, General Counsel and Corporate Secretary at IDEX Corporation since February 2022. She joined IDEX as Assistant General Counsel in October 2016 .
    Melissa S. FloresSenior Vice President and Chief Human Resources OfficerFebruary 2021Melissa S. Flores has served as the Senior Vice President and Chief Human Resources Officer at IDEX since February 2021. She was previously the Global Vice President of Talent from May 2019 through February 2021 .
    Roopa UnnikrishnanSenior Vice President, Strategy and Corporate DevelopmentMarch 2022Roopa Unnikrishnan has served as the Senior Vice President, Strategy and Corporate Development at IDEX since March 2022. Prior to joining IDEX, she was the Chief Strategy Officer at Vontier from October 2020 to July 2021 .

    Questions to Ask Management

    1. Given the pullback in project commitments due to economic and political uncertainties, how confident are you in your ability to meet your guidance for the back half of the year, and what specific measures are you taking to mitigate these risks?
    2. With the semiconductor market not yet turning into accelerating releases or increased order positions, and recent deferments in that area, how are you adjusting your strategies within the HST segment to address these challenges?
    3. Considering that life sciences and analytical instrumentation markets are unlikely to see positive inflection until 2025, what initiatives are in place to drive growth and maintain profitability in these segments until the market recovers?
    4. You've mentioned stable daily order rates but a pullback in project commitments; can you elaborate on the discrepancy between the relatively optimistic demand outlook and the more severe drop in organic trends for the second half?
    5. How do you anticipate the recent acquisitions of Mott Corporation and Subterra will contribute to your growth and EBITDA margin expansion, especially in light of current market pressures in your key segments?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateDecember 1, 2015 March 17, 2020
    End Date/DurationNo expiration date No expiration date
    Total additional amount$300.0 million $500.0 million
    Remaining authorization amount$0.0 million $539.7 million
    DetailsNo share repurchases during the nine months ended September 30, 2024 Part of a disciplined approach to capital allocation; funded through future cash flow or borrowings

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt Calculation
    2024$0.6Current Portion of Long-Term BorrowingsN/A0.03% = (0.6 / 2087.4) * 100
    2025$100.03.37% Senior Notes3.374.8% = (100.0 / 2087.4) * 100
    2027$800.0Revolving Facility4.72 (weighted avg)38.3% = (800.0 / 2087.4) * 100
    2028$100.05.13% Senior Notes5.134.8% = (100.0 / 2087.4) * 100
    2029$500.04.950% Senior Notes4.95023.9% = (500.0 / 2087.4) * 100
    2030$500.03.00% Senior Notes3.0023.9% = (500.0 / 2087.4) * 100
    2031$500.02.625% Senior Notes2.62523.9% = (500.0 / 2087.4) * 100

    Competitors

    Competitors mentioned in the company's latest 10K filing.

    • Dover Corporation: Principal competitor in the FMT segment with respect to pumps and small horsepower compressors used in liquefied petroleum gas distribution facilities, rotary gear pumps, and air-operated double-diaphragm pumps .
    • Ingersoll Rand's Precision and Science Technologies (PST) division: Competitor in the FMT segment with respect to metering, control, rotary gear pumps, and air-operated double-diaphragm pumps .
    • Thomas division of Ingersoll Rand: Competitor in the HST segment with respect to vacuum pumps and compressors .
    • Parker Hannifin: Competitor in the HST segment with respect to sealing devices .
    • Valco Instruments Co., Inc.: Competitor in the HST segment with respect to connections, degassers, and valves .
    • Alluxa: Competitor in the HST segment with respect to filters .
    • Jenoptik: Competitor in the HST segment with respect to optical assemblies in life sciences .
    • Tecan Trading AG: Competitor in the HST segment with respect to the life science fluidics market .
    • Waterous Company, a unit of American Cast Iron Pipe Company: Competitor in the FSDP segment with respect to truck-mounted firefighting pumps .
    • Holmatro, Inc.: Competitor in the FSDP segment with respect to rescue tools .
    • Corob S.p.A.: Competitor in the FSDP segment with respect to dispensing and mixing equipment for the paint industry .
    • Panduit Corporation: Competitor in the FSDP segment with respect to stainless steel bands, buckles, and clamping systems .

    Auditor

    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1987PresentCurrent auditor