IDEX Corporation
Find Ratings ReportsIDEX CORP's gross profit margin for the fourth quarter of its fiscal year 2023 is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, underperforming the average competitor within its subsector. IDEX CORP has strong liquidity. Currently, the Quick Ratio is 1.93 which shows the ability to cover short-term cash needs. The company managed to increase its liquidity from the same period a year ago, despite already having strong liquidity to begin with. This would indicate improved cash flow.
During the same period, stockholders' equity ("net worth") has increased by 16.52% from the same quarter last year. The key liquidity measurements indicate that the company is unlikely to face financial difficulties in the near future.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. To learn more visit www.TheStreetRatings.com.
Income Statement | Q4 FY23 | Q4 FY22 |
---|---|---|
Net Sales ($mil) | 788.9 | 810.7 |
EBITDA ($mil) | 205.5 | 219.8 |
EBIT ($mil) | 165.9 | 186.3 |
Net Income ($mil) | 108.6 | 130.0 |
Balance Sheet | Q4 FY23 | Q4 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 538.7 | 430.2 |
Total Assets ($mil) | 5865.2 | 5511.9 |
Total Debt ($mil) | 1445.8 | 1586.9 |
Equity ($mil) | 3541.4 | 3039.3 |
Profitability | Q4 FY23 | Q4 FY22 |
---|---|---|
Gross Profit Margin | 47.76 | 47.77 |
EBITDA Margin | 26.04 | 27.11 |
Operating Margin | 21.03 | 22.98 |
Sales Turnover | 0.56 | 0.57 |
Return on Assets | 10.16 | 10.64 |
Return on Equity | 16.83 | 19.31 |
Debt | Q4 FY23 | Q4 FY22 |
---|---|---|
Current Ratio | 2.89 | 2.57 |
Debt/Capital | 0.29 | 0.34 |
Interest Expense | 11.6 | 12.1 |
Interest Coverage | 14.3 | 15.4 |
Share Data | Q4 FY23 | Q4 FY22 |
---|---|---|
Shares outstanding (mil) | 75.73 | 75.61 |
Div / share | 0.64 | 0.6 |
EPS | 1.43 | 1.71 |
Book value / share | 46.76 | 40.19 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 391604.0 | 518812.0 |
BUY. The current P/E ratio indicates a discount compared to an average of 34.89 for the Machinery Manufacturing subsector and a premium compared to the S&P 500 average of 27.95. Conducting a second comparison, its price-to-book ratio of 5.16 indicates a premium versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 15.81. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. Upon assessment of these and other key valuation criteria, IDEX CORP proves to trade at a discount to investment alternatives.
Price/Earnings |
|
Price/Cash Flow |
| |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEX 30.78 | Peers 34.89 | IEX 25.50 | Peers 35.56 | |||||||||||||||||||||
Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations. IEX is trading at a discount to its peers. |
Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures. IEX is trading at a significant discount to its peers. |
|||||||||||||||||||||||
Price/Projected Earnings |
|
Price to Earnings/Growth |
|
|||||||||||||||||||||
IEX 26.38 | Peers 25.65 | IEX 4.93 | Peers 5.15 | |||||||||||||||||||||
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. IEX is trading at a premium to its peers. |
Average. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. IEX trades at a valuation on par to its peers. |
|||||||||||||||||||||||
Price/Book |
|
Earnings Growth |
|
|||||||||||||||||||||
IEX 5.16 | Peers 15.81 | IEX 1.68 | Peers 20.44 | |||||||||||||||||||||
Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. IEX is trading at a significant discount to its peers. |
Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. However, IEX is expected to significantly trail its peers on the basis of its earnings growth rate. |
|||||||||||||||||||||||
Price/Sales |
|
Sales Growth |
|
|||||||||||||||||||||
IEX 5.58 | Peers 8.34 | IEX 3.47 | Peers 14.92 | |||||||||||||||||||||
Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. IEX is trading at a significant discount to its subsector on this measurement. |
Lower. A sales growth rate that trails the subsector implies that a company is losing market share. IEX significantly trails its peers on the basis of sales growth. |
|||||||||||||||||||||||