IDEX logged a -3.1% change during today's morning session, and is now trading at a price of $222.23 per share. The S&P 500 index moved -1.0% and the Nasdaq posted a -0.0% change.
IDEX shares moved 17.8% over the last 52 weeks, with a high of $246.23 and a low of $172.19. During this time, the stock outperformed the S&P 500 index by 26.0%. As of January 2022, the company's 50-day average price is $226.0. IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The large-cap Industrials company has 8,868 full time employees and is based in Northbrook, IL. IDEX has returned a 1.0% dividend yield over the last 12 months.
Snapshot of the Company's Consistent Operating Margins:
| 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue (MM) | $2,495 | $2,352 | $2,765 | $3,182 |
| Revenue Growth | n/a | -5.73% | 17.57% | 15.09% |
| Gross Margins | 45.1% | 43.7% | 44.3% | 44.8% |
| Gross Margins Growth | n/a | -3.1% | 1.37% | 1.13% |
| Operating Margins | 24.0% | 22.6% | 23.4% | 24.3% |
| Operating Margins Growth | n/a | -5.83% | 3.54% | 3.85% |
| Net Margins | 17.06% | 16.06% | 16.25% | 18.44% |
| Net Margins Growth | n/a | -5.86% | 1.18% | 13.48% |
| Earnings Per Share | $5.56 | $4.94 | $5.88 | $7.7 |
| EPS Growth | n/a | -11.15% | 19.03% | 30.95% |
| Diluted Shares (MM) | 76 | 76 | 76 | 76 |
| Free Cash Flow (MM) | $477 | $518 | $493 | $489 |
| FCF Growth | n/a | 8.5% | -4.85% | -0.65% |
| Capital Expenditures (MM) | -$51 | -$52 | -$73 | -$68 |
| Net Debt / EBITDA | 0.32 | 0.03 | 0.46 | 1.16 |
IDEX Is Overvalued:
Compared to the Industrials sector's average of 20.49, IDEX has a trailing twelve month P/E ratio of 28.9 and, according to its EPS guidance of 9.17, an expected P/E ratio of 24.2. IDEX's PEG ratio is 1.99 based on its 10.5% compound average growth rate of historical and projected earnings per share. This suggests that the company's shares are overvalued.
IDEX's P/B ratio is 5.5 compared to its sector average of 3.78. The company is likely overvalued in terms of its net asset value. The company's shares are currently trading 201.2% above their fair value as expressed by Benjamin Graham's formula:
√(22.5 * 4-year average EPS * book value per share) = √(22.5 * 6.02 * 40.195) = $73.79
IDEX Is the Subject of Mixed Market Indicators:
14 analysts are following IDEX and have set target prices ranging from $225.0 to $280.0 per share. On average, they have given the company a rating of buy. At the current price of $222.23, IEX is trading -9.35% away from its average analyst target price of $245.14 per share, implying an analyst consensus of some upside potential for the stock.
The company has a very low short interest since 1.7% of the company's shares are tied to short positions. Institutions own 101.8% of IDEX's shares, while the insider ownership rate stands at 0.34%. The biggest shareholder is the Vanguard Group, Inc. with a 12% stake in the company worth approximately $2,087,794,807.
