IDEX Corporation reported a solid finish to 2025 with record fourth-quarter sales and orders, driven by strength in its Health & Science Technologies segment, particularly in AI-related applications. While full-year sales showed modest growth, the company navigated a challenging demand environment in other segments, focusing on operational efficiencies and strategic platform growth.
Record fourth quarter net sales of $899 million increased 4% on a reported basis and 1% organically.
positiveRecord fourth quarter orders of $979 million increased 20% on a reported basis and 16% organically, driven by strength in HST.
positiveFull year operating cash flow of $680 million increased 2% and was 141% of net income, up from 132% in the prior year.
positiveFull year free cash flow of $617 million increased 2% and yielded conversion of 103%, up from 101%.
positiveFull year reported diluted EPS decreased 3% to $6.41, reflecting higher operating results offset by increased depreciation, amortization, restructuring costs, interest expense, and taxes.
negativeVolumes were lower in the Fluid & Metering Technologies (FMT) and Fire & Safety/Diversified Products (FSDP) segments, partially offset by higher volumes in HST.
attentionFull year organic sales increased only 1%, indicating a slowdown from prior year growth.
attentionThe effective tax rate increased due to legislation enacted in 2025, impacting foreign sourced income and state income taxes.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Health & Science Technologies | N/A | — | — | — | +5.0% |
Fluid & Metering Technologies | N/A | — | — | — | +1.0% |
Fire & Safety/Diversified Products | N/A | — | — | — | -5.0% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Order growth in HST segment built momentum in the fourth quarter from increasing demand for AI-related projects.
Businesses in FMT and FSDP segments are aggressively managing all the factors in their control in a challenging demand environment.
Committed to executing strategy of building focused growth platforms that leverage differentiated capabilities.
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