Idex (IEX) Q4 FY2025 earnings: revenue $899 million, up 4.2% on the year

Idex Corp. (IEX) reported revenue of $899 million for Q4 FY2025, the quarter ended 31 December 2025, up 4.2% on the same quarter a year earlier. Net income was $128 million, up 4.1% on the year, and diluted earnings per share $1.71. The figures are the company's own, from the 10-K it filed with the SEC on 19 February 2026.

Revenue

$899 million

+4.2% on the year · +2.3% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

20.4%

19.2% a year earlier

Q1 FY2024Q4 FY2025

Net income

$128 million

+4.1% on the year · +0.4% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$1.71

+5.6% on the year · +0.6% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 4 new.

Record fourth-quarter sales; modest organic growth: Reported growth came from acquisitions, organic sales and favorable currency; organic growth came from positive price, partly offset by lower FSDP and FMT volumes.
Fourth-quarter EPS rose on operations: Reported diluted EPS of $1.71 rose 6% and adjusted diluted EPS of $2.10 rose 3%. Management attributed both increases largely to improved operational results.
Record orders concentrated in HST: Orders were a record for the quarter, and management attributed most of the increase to HST, where order growth built during the quarter.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	899	879	863	+2.3%	+4.2%
Cost of revenue	512	488	496	+4.9%	+3.3%
Gross profit	387	391	367	-0.9%	+5.4%
Gross margin	43.1%	44.5%	42.5%
Selling, general and administrative	201	205	198	-1.8%	+1.6%
Operating income	184	186	165	-1.2%	+11.1%
Operating margin	20.4%	21.1%	19.2%
Interest expense	16.2	16.5	16.7	-1.8%	-3.0%
Pre-tax income	168	170	151	-1.6%	+10.9%
Income tax	39.4	42.8	28.0	-7.9%	+40.7%
Effective tax rate	23.5%	25.1%	18.5%
Net income	128	128	123	+0.4%	+4.1%
Net margin	14.3%	14.5%	14.3%
Diluted EPS	$1.71	$1.70	$1.62	+0.6%	+5.6%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	210	204	173	+2.9%	+21.4%
Capital expenditure	19.7	14.8	15.5	+33.1%	+27.1%
Free cash flow	190	189	157	+0.6%	+20.8%
Free cash flow margin	21.1%	21.5%	18.2%
Cash from investing	-17.6	-95.5	-14.7
Cash from financing	-208	-75.7	-141
Depreciation and amortisation	53.5	52.1	50.7	+2.7%	+5.5%
Share-based compensation	3.6	5.5	4.9	-34.5%	-26.5%
Buybacks	72.8	75.0	0.0	-2.9%
Dividends paid	53.2	53.5	52.3	-0.6%	+1.7%
Dividend per share	n/a	$0.71	n/a
Diluted shares, weighted	75m	75m	76m	-0.5%	-1.4%
Shares outstanding at period end	74m	75m	76m	-0.7%	-1.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	4,028	4,011	3,795	+0.4%	+6.1%
Non-controlling interest	-1.3	-1.3	-0.6
Debt	1,830	1,912	1,971	-4.3%	-7.2%
Operating lease liabilities	94.1	n/a	102		-7.4%
Other liabilities	977	1,048	878	-6.8%	+11.2%
Total liabilities and equity	6,927	6,970	6,745	-0.6%	+2.7%
Fixed assets	468	469	460	-0.1%	+1.7%
Goodwill	3,414	3,409	3,252	+0.2%	+5.0%
Intangible assets	1,247	1,282	1,285	-2.7%	-2.9%
Cash and equivalents	580	594	621	-2.3%	-6.6%
Receivables	512	489	461	+4.7%	+11.0%
Inventory	479	495	430	-3.2%	+11.6%
Other assets	226	233	237	-3.2%	-4.7%
Total assets	6,927	6,970	6,745	-0.6%	+2.7%

Questions

What was Idex's revenue in Q4 FY2025?

Idex (IEX) reported revenue of $899 million for Q4 FY2025, the quarter ended 31 December 2025, up 4.2% on the same quarter a year earlier.

How much did Idex earn in Q4 FY2025?

Net income for Q4 FY2025 was $128 million, up 4.1% on the year, and diluted earnings per share $1.71.

When did Idex report Q4 FY2025 results?

Idex filed its 10-K for the year that ended with the quarter on 19 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 * †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	715	751	796	824	811	845	846	793	789	800	807	798	863	814	865	879	899	887	921	952
Cost of revenue	401	409	439	442	465	463	468	444	452	443	440	444	496	445	473	488	512	489	494	522
Gross profit	314	342	357	382	346	382	378	350	337	357	367	354	367	369	392	391	387	398	427	430
Gross margin	44%	46%	45%	46%	43%	45%	45%	44%	43%	45%	45%	44%	43%	45%	45%	44%	43%	45%	46%	45%
SG&A	151	154	168	162	169	190	174	166	174	195	183	183	198	209	204	205	201	218	224	218
Operating income	162	188	187	202	175	192	200	180	160	161	183	168	165	142	188	186	184	172	200	208
Operating margin	23%	25%	23%	25%	22%	23%	24%	23%	20%	20%	23%	21%	19%	17%	22%	21%	20%	19%	22%	22%
Interest expense	9.6	9.5	9.5	9.6	12.1	13.1	13.3	13.7	11.6	9.4	8.1	10.3	16.7	16.1	15.6	16.5	16.2	16.0	15.1	15.4
Pre-tax income	153	180	177	228	164	180	178	262	140	154	179	154	151	124	170	170	168	157	186	193
Tax rate	23%	22%	22%	22%	20%	22%	22%	20%	23%	21%	21%	23%	19%	23%	23%	25%	23%	24%	23%	25%
Net income	119	140	138	179	130	140	139	209	109	121	141	119	123	95.5	132	128	128	120	143	144
Net margin	17%	19%	17%	22%	16%	17%	16%	26%	14%	15%	18%	15%	14%	12%	15%	15%	14%	14%	16%	15%
Diluted EPS	$1.55	$1.83	$1.81	$2.36	$1.71	$1.84	$1.82	$2.75	$1.43	$1.60	$1.86	$1.57	$1.62	$1.26	$1.74	$1.70	$1.71	$1.61	$1.93	$1.95
Operating cash flow	163	79.7	112	198	167	148	141	227	201	157	134	205	173	106	162	204	210	104	200	240
Capital expenditure	27.2	16.1	15.6	16.3	20.0	26.6	21.6	20.1	21.6	20.0	15.9	13.7	15.5	14.3	14.8	14.8	19.7	17.7	23.0	25.2
Free cash flow	136	63.6	96.7	182	147	121	120	206	179	137	118	192	157	91.4	147	189	190	86.0	177	214
Buybacks	0.0	26.3	84.1	35.9	1.8	0.0	1.0	0.1	23.1	0.0	0.0	0.0	0.0	50.0	50.0	75.0	72.8	76.3	77.1	74.6
Dividends paid	40.8	41.4	45.5	45.3	45.2	45.5	48.4	48.4	48.4	48.5	52.2	52.3	52.3	52.4	53.5	53.5	53.2	52.8	53.9	54.0
Shares outstanding	76m	76m	75m	75m	76m	76m	76m	76m	76m	76m	76m	76m	76m	76m	75m	75m	74m	74m	74m	73m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 19 February 2026: the filing.