Is IDEX Corp Stock Underperforming the Dow?

Illinois-based IDEX Corporation (IEX) builds the behind-the-scenes technologies that make everyday life safer, cleaner, and more connected. Its precision components help produce the microchips inside our electronics, treat water so it’s safe to drink, prevent sewer overflows, and enable global broadband satellite communications through advanced optics. IDEX’s specialized pumps handle some of the toughest fluids, from hot and viscous to corrosive. 

At the same time, its healthcare components support life-saving diagnostic equipment, including DNA sequencers that allow doctors to personalize treatments. Currently valued at roughly $13.4 billion by market capitalization, placing it firmly in “large-cap” territory, well above the $10 billion benchmark. The company’s journey began in 1988 with just three small, entrepreneurial manufacturing businesses. 

Since then, IDEX has grown into a truly global and diversified organization, now spanning more than 50 businesses worldwide, with manufacturing operations in over 20 countries. The stock has delivered a strong recent run, rising 8.8% and beating the Dow Jones Industrial Average’s ($DOWI) 5.5% return over the same period. Still, the rally has cooled since its January peak of $226.04, with shares now sitting about 21.1% below its 52-week high, pointing to a notable but measured pullback.

The longer-term picture is far less encouraging. Over the past 52 weeks, the stock has been down about 20%, with an additional 14.8% decline in 2025, marking a clear stretch of underperformance. By contrast, the broader index has moved higher, gaining 10.4% over the past year and 13.5% in 2025, underscoring the stock’s lag versus the market.

On a more positive note, the technical trend has improved, with the stock trading above both its 50-day and 200-day moving averages since the end of November, signaling strengthening momentum despite the longer-term underperformance.

Shares jumped about 3.9% on Oct. 29 after IDEX Corporation delivered a strong Q3 2025 earnings report that topped Wall Street expectations. Adjusted EPS came in at $2.03, beating estimates of $1.93 and rising 7% year over year, while revenue climbed 10% to $879 million, comfortably above the $861.1 million consensus. 

Growth was powered by a robust 22% surge in Health & Science Technologies, which more than offset a 3% year-over-year decline in Fire & Safety, reinforcing investor confidence in IDEX’s growth engines.

IDEX has trailed even its peer, Generac Holdings Inc. (GNRC). While GNRC is down a relatively modest 6.8% over the past year, it has managed to post a small gain in 2025, highlighting how IDEX has fallen further behind its industry counterpart.

Despite the stock’s lackluster performance over the long term, Wall Street hasn’t lost faith. IEX currently holds a consensus “Moderate Buy” rating from 12 analysts, signaling confidence. The average price target of $192.27 suggests the stock could climb nearly 7.8% from current levels.