On this page of StockholderLetter.com we present the 3/26/2024 shareholder letter from IDEX CORP /DE/ — ticker symbol IEX. Reading current and past IEX letters to shareholders can bring important insights into the investment thesis.
012345637346 64809232467154 8 71 48 2662 1 5 8 71107&94' 93'09607133 64832 1"( 9" )*+ 3 464809232464 8 71 4783 " ( C 39716232 194' 93'09607133 64832 1"( 9" )*+ 3 464809232464 8 71 4783 " ( ,-./01234567816.19:1:;151<=1.>?@ABA> ,-./01/.6943/3-9D1.3-:2.-< 254 8 9' 9732 1 5\] ^ \ E-<<3443-923719F<=1.?G?BA>H IJKLMNOLPQRSTQUVWNTLONLWWXQMVSVQYVOVNWMZLTNQT[ I`NLNQRTRNZQTabTVWYVMNVRORS VOMRTXRTLNVRORTRTULOVcLNVRO[ Idefe eJPXgRhQT dYQONVSVMLNVROiRe[ ImYYTQWWRSXTVOMVXLgQKQMbNVnQRSSVMQW[ IoVXpRYQ[ (" 6 *\ 9 * 6j \( " 1 k l 2]] q1r34/.69/s4/171D0-919F<=1.@3957F:39r6.165-:1tuvwxywzvGxBxB {15F.3/314q1r34/1.1:|F.4F69//-{15/3-9?Au=y-2/01}5/t ~3/71-2165057644 ~.6:39r{8<=-7u4y 6<1-216501 5069r1-9 0350.1r34/1.1: E-<<-9{/-5 @D6. 67F1 B?D1.406.1 1 -. {/-5 5069r1 {15F.3/314q1r34/1.1:|F.4F69//-{15/3-9?Aury-2/01}5/t -91 9:356/1=85015 <6. 32/01.1r34/.69/346 177G 9- 94164-91:344F1.@64:12391:39qF71wBH-2/01{15F.3/314}5/ 14 - 9:356/1=85015 <6. 32/01.1r34/.69/349-/.1 F3.1:/-2371.1D-./4DF.4F69//-{15/3-9?>-.{15/3-9?Hu:y-2/01 }5/ 14 - 9:356/1=85015 <6. 01/01./01.1r34/.69/u?y0642371:677.1D-./4.1 F3.1:/-=12371:=8{15/3-9?>-.?Hu:y-2/01{15F.3/314 5069r1}5/-2?z>w:F.39r/01D.151:39r?A<-9/04u-.2-.4F5040-./1.D1.3-:/06//01.1r34/.69/ 64.1 F3.1:/-23714F50.1D-./4y@69: uAy064=1194F= 15//-4F5023739r.1 F3.1<19/42-./01D64/zB:684 14 - 9:356/1=85015 <6. 01/01./01.1r34/.69/0644F=<3//1:1715/.-93567781 1.8 9/1.65/3 1;6/6,371.1 F3.1:/-=14F=<3//1:DF.4F69/ /-qF71wBH-2q1rF76/3-9{G~u A>AwBH-2/034506D/1.y:F.39r/01D.151:39r?A<-9/04u-.2-.4F5040-./1.D1.3-:/06//01.1r34/.69/ 64 .1 F3.1:/-4F=<3/4F5023714y 14 - 9:356/1=85015 <6. 01/01./01.1r34/.69/34676.r1655171.6/1:2371.@69655171.6/1:2371.@69-9G655171.6/1:2371.@64<6771..1D-./39r 5-<D698@-.691<1.r39rr.- /05-<D698{11/01:12393/3-94-2 76.r1655171.6/1:2371.@ 655171.6/1:2371.@ 4<6771..1D-./39r5-<D698@ 69: 1<1.r39rr.- /05-<D698 39qF71?A=GA-2/01 5069r1}5/ 6.r1655171.6/1:2371. }55171.6/1:2371. -9G655171.6/1:2371. {<6771..1D-./39r5-<D698 <1.r39rr.- /05-<D698 26/06 919<1 9rr -3<D . 3 1rF34./4.F6699//0/6-{ 411751/53/-19? :9>-u/6/y-F 0115 0/6199r:1}5 1:/./69 43/3-9D1.3-:2-.5-<D7839r 3 89.r13 ...-1 / 3405 1:2 969659386@73695:53-5F6/91= /3985 r40/6195: <6 6.:4D .-2 /30:1. 1:D -24/1/ 01 9:356/1=85015 <6. 01/01./01.1r34/.69/0642371:6.1D-./-969:6//14/6/3-9/-3/4<696r1<19/s4644144<19/-2/0112215/3 19144-2 3/439/1.9675-9/.-7- 1.239695367.1D-./39rF9:1.{15/3-9wBwu=y-2/01{6.=6914G 718}5/u?H {E xA Au=yy=8/01.1r34/1.1:DF=735 655-F9/39r23.</06/D.1D6.1:-.344F1:3/46F:3/.1D-./ 2415F.3/3146.1.1r34/1.1:DF.4F69//-{15/3-9?Au=y-2/01}5/@39:356/1=85015 <6. 01/01./012396953674/6/1<19/4-2/01.1r34/.69/ 3957F:1:39/0123739r.12715//015-..15/3-9-2691..-./-D.1 3-F478344F1:2396953674/6/1<19/4C 9:356/1=85015 <6. 01/01.698-2/0-411..-.5-..15/3-946.1.14/6/1<19/4/06/.1 F3.1:6.15- 1.869678434-239519/3 1G=641: 5-<D1946/3-9.1513 1:=8698-2/01.1r34/.69/s41 15F/3 1-22351.4:F.39r/01.171 69/.15- 1.8D1.3-:DF.4F69//- AwB?B;G?u=yC 9:356/1=85015 <6. 01/01./01.1r34/.69/346401775-<D698u64:12391:39qF71?A=GA-2/01}5/y 14C - ~016rr.1r6/1<6. 1/ 67F1@64-2/01764/=F439144:68-2/01.1r34/.69/s4<-4/.1519/785-<D71/1:415-9:234567 F6./1.@-2/015-<<-9 4/-5 u=641:-9/01 F91>B@ABA>57-439rD.351-2 A?HA y017:=89-9G6223736/14-2 ; E-.D-.6/3-9 64 ? @A x@ xB@A H ~019F<=1.-2406.14-F/4/69:39r-2 ; E-.D-.6/3-9s45-<<-94/-5 @D6. 67F1 B?D1.406.1@64-2,1=.F6.8? @ABAw 64 xH@ ww@ Hw 5 80 4136218 9' 97345 94 494184 |-./3-94-2/01D.- 84/6/1<19/ 3/0.14D15//-/01 ; E-.D-.6/3-9ABAw699F67<11/39r-24/-5 0-7:1.4u/01 ABAw|.- 8 {/6/1<19/ y6.1395-.D-.6/1:=8.121.195139/-|6./ -2/034,-.<?BG
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`65 f% ) /%? %4%)%R@a $%& / *RAa f. /,* , %RAa i $% R8a h R8a b +ch$ & R8a f *' / * ) ,&% )Rga f, & -%Rga 6%& / +,/ RDa e % R>a +,) *RBCa b %c6 4% 'RB@a % .'RCa d 4%6/ %/%)R>a :$% & '$ ) $ %% % 5*%)%.&% )Rb*, +cj% % .:%/$ * . %)!"bj:#(;k% * $c6/ %/%:%/$ * . %) !"k6:#( +b %c6 4% '? -% ) 4 %+h +,/ )!"b6 h#(2:$%)%.&% ) %) ,/ , %+ ,+$ 1 5%) )% -%/,) &% %%+);1 $% /$)%.&% / ) ) . 45,) %))%) $ $ -% +,/ +%+& 0% ) & * %) )1%** )/ && + ) 5, &% $ +) + +,/ /%))%)2:$ )) ,/ , %% 5*%)& .%&% %44 / %/'; * .) 7) % )1 $ )4 /,) . /. 1 $;) %. / /=, ) ) +/ * ** / %) + - +%) ) %/' 5 , $% & '7) % 4 & /% %< % *) 0%$ *+% )2 B
 • shareholder letter icon 3/26/2024 Letter Continued (Full PDF)
 • stockholder letter icon 4/4/2023 IEX Stockholder Letter
 • stockholder letter icon 3/26/2025 IEX Stockholder Letter
 • Benford's Law Stocks icon IEX Benford's Law Stock Score = 74


IEX 3/26/2024 Shareholder/Stockholder Letter Transcript:

012345637346
64809232467154 8 71 48   2662 1
           5 8      


71107&94' 93'09607133 64832 1"( 9" )*+  3 464809232464 8 71 4783  " ( 
C
39716232 194' 93'09607133 64832 1"( 9" )*+  3 464809232464 8 71 4783  " ( 
,-./01234567816.19:1:;151<=1.>?@ABA>
,-./01/.6943/3-9D1.3-:2.-<

254 8 9' 9732 1
5\] ^ \
E-<<3443-923719F<=1.?G?BA>H
IJKLMNOLPQRSTQUVWNTLONLWWXQMVSVQYVOVNWMZLTNQT[

I`NLNQRTRNZQTabTVWYVMNVRORS
VOMRTXRTLNVRORTRTULOVcLNVRO[
Idefe  eJPXgRhQT
dYQONVSVMLNVROiRe[
ImYYTQWWRSXTVOMVXLgQKQMbNVnQRSSVMQW[
IoVXpRYQ[
("  6  *\ 9  * 6j  \( " 1   k  l 2]]     

q1r34/.69/s4/171D0-919F<=1.@3957F:39r6.165-:1tuvwxywzvGxBxB
{15F.3/314q1r34/1.1:|F.4F69//-{15/3-9?Au=y-2/01}5/t
~3/71-2165057644
~.6:39r{8<=-7u4y
 6<1-216501  5069r1-9  0350.1r34/1.1:

E-<<-9{/-5  @D6.  67F1  B?D1.406.1
 1    -.  {/-5      5069r1
{15F.3/314q1r34/1.1:|F.4F69//-{15/3-9?Aury-2/01}5/t
 -91
  9:356/1=85015  <6.  32/01.1r34/.69/346  177G  9-  94164-91:344F1.@64:12391:39qF71wBH-2/01{15F.3/314}5/   14    -  
  9:356/1=85015  <6.  32/01.1r34/.69/349-/.1  F3.1:/-2371.1D-./4DF.4F69//-{15/3-9?>-.{15/3-9?Hu:y-2/01
}5/   14    -  
  9:356/1=85015  <6.    01/01./01.1r34/.69/u?y0642371:677.1D-./4.1  F3.1:/-=12371:=8{15/3-9?>-.?Hu:y-2/01{15F.3/314
    5069r1}5/-2?z>w:F.39r/01D.151:39r?A<-9/04u-.2-.4F5040-./1.D1.3-:/06//01.1r34/.69/  64.1  F3.1:/-23714F50.1D-./4y@69:
uAy064=1194F=  15//-4F5023739r.1  F3.1<19/42-./01D64/zB:684   14    -  
  9:356/1=85015  <6.    01/01./01.1r34/.69/0644F=<3//1:1715/.-93567781  1.8  9/1.65/3  1;6/6,371.1  F3.1:/-=14F=<3//1:DF.4F69/
/-qF71wBH-2q1rF76/3-9{G~u  A>AwBH-2/034506D/1.y:F.39r/01D.151:39r?A<-9/04u-.2-.4F5040-./1.D1.3-:/06//01.1r34/.69/  64
.1  F3.1:/-4F=<3/4F5023714y   14    -  
  9:356/1=85015  <6.    01/01./01.1r34/.69/34676.r1655171.6/1:2371.@69655171.6/1:2371.@69-9G655171.6/1:2371.@64<6771..1D-./39r
5--u/6/y-F
0115  0/6199r:1}5
1:/./69  43/3-9D1.3-:2-.5-B@ABA>57-439rD.351-2  A?HA  y017:=89-9G6223736/14-2  ;    E-.D-.6/3-9  64  ?  @A  x@  xB@A  H
~019F<=1.-2406.14-F/4/69:39r-2  ;    E-.D-.6/3-9s45-<<-94/-5  @D6.  67F1  B?D1.406.1@64-2,1=.F6.8?  @ABAw  64
xH@  ww@  Hw
5 80 4136218 9' 97345    94 494184
|-./3-94-2/01D.-  84/6/1<19/  3/0.14D15//-/01  ;     E-.D-.6/3-9ABAw699F67<11/39r-24/-5  0-7:1.4u/01  ABAw|.-  8
{/6/1<19/  y6.1395-.D-.6/1:=8.121.195139/-|6./      -2/034,-.    0  =     (:;   -'        
 94 @  A    % &B
 94 D  6   4 *   9 7           &E  $-    (        $)  &       &    $   (F1       
 94 D   G         %   &G  $     % 7   $     E.   6        
 94 I          $'    *      &' 11$ *    -7   
6   4 *   9   1    >     $)    $F%         $  1    4
  1   (> & 1  &     4     &0 .$  E        4  *L0)EF >7M N?CO
)    $ &   &'    *     () *1 =    % >   * 
)    $ &   &'    *     (:;   )    $ &   &'    *     ()  = $ P 
M      )    $ &   &        $'    *    
M    N' 4  (     E        40 $     
M   +NE ;           &7 %        
M   ?N) $$ .    % > %   *    
M   CN  $    '=   ) *1      
M   !N  %    
M   JNR  &P $$  &>    4 .$ E     
M   KN    P  4 
M   HN   S $  6     *    
M   QN3     
M    ,N) **  *      &)     4      
M     N'=    1  =    
M    +N>   * T U  
M    ?N        ' 4*      &R  4 1=  > ( *     
M    CN          4:U1       &E    >*1  *    
M    !N'=  V    &) *1        
M    JNF = ) *1 =    % >   * L3   O
M    KN     *       (   
 94 W  )=  4      &7   4  *    P  =E            E        4  &        $7   $    
 94 W   )    $   &0   &   
 94 W"  F = > ( *     
 94 W7  7   $      4 &  4    4 X   &        =  0 %   >  1       
0     94  Y  7      <:U     % F((      &) 1    R %      
 94     :U     % ) *1        
 94  /  '     -FP   = 1 ()         (    $FP     &6   4 *     &  $   &'    = $& 6     
 94  2  )       $      = 1   &  $   &T          <  &7      > & 1  &    
 94  5  0    1 $E               &' %    
0 Z  94  8  :U= .     &        $'    *   ' = & $  
 94  @    * ,V[' ** ' 4      




+C
?H
C,
C,
C 
CC
C!
CJ
CK
CH
CQ
CQ
!C
J?
JC
J!
JK
JQ
K 
K 
KC
KC
KC
KK
H,
H 
HJ
HK
QC
QC
QC
QC
Q!
Q!
Q!
Q!
Q!
QJ
QJ

01234561789313 63 6 73   74 139 27434  434 13456   57   3
         ! "# " $%  &# '()  * "+, # - " &   "   - #" "+ %  .  /# 0 !1     2  +#  "3 %  -4! %
56678# #- "' '9      # - " -#:  )#   8#- "+       "+ 8  ; - #":< %1)): # =>=?% !1 #"'   
#  1-   " 1"'  ): "+      @  !#  " 8 )#" #"' A1  - " !# #! :%  %11  +  & 8  '1 #  " % 1  ):! # "
! #)) "+  8#" !  # '%11  #!A1     "B  #/   #"'!#  #)'  ) :- "8 @  !#  "   +# ' "+!1  -  '   !* "+ %%   
#"'%11    '   #B ) C#  "#"') #' - 8 @  !#  "   +# ' "+-# *   !  ! " #!  "8  ! /  :8 #B ) C#  "  +  & 8
#/# )#B ) : %!#  #"'% "#"! "+#)  "# /  #"'   #" !  # 'B " %   %   ; - #":<   ! " #!A1     " 8#"'#  
 "' !# 'B:&  '      #    1! # $#" !  #  8,$   -#  8,$ )#" 8,$+1 '#"! 8,$ @  ! 8,$   D ! 8,$%   !#  8,
$   1)'8,$! 1)'8,$& ))8,$-#"#+ - " B )  /  8,$  ; - #":B )  /  8,$  ; - #": " "' ,#"'  - )# &  '   
   #   9      # - " #   1BD !   "    "1"!  # "   #"'   *  #! 1)'!#1  #!1#)   1)  ' %%  -#   #)):%      #" !  # '#   '#  %        9
      * #"'1"!  # "    "!)1' 8B1 #  "  ) -  '  8  % )) & "+E) / )  % "'1   #)#! / :#"' ! " - !
! "'   "  "   F909#"'    ! 1"    #  1"'   &  )'8 "!)1' "+1"!  # "    "   % "#"! #)-# *  #"'#'/    
' / )  - " #%% ! "+   % "#"! #)   / !   "'1  :G   ! "+     1   8 "!)1' "+ "%)#  "#"'    "+ "     #  8#"'    
! -    / %#!   #"') / )  %!#  #)   "' "+ "!  # " "'1     8#)) %&  ! ! 1)' #/ #-#   #) - #! "  '   #  
#"'  ; - #":<    1) G   - #! %!##      !& #    / " 8"#1 #)'  #    #"' 1B) !  #)    # G ! " - !#"'
  )  !#)! "  A1 "!     1) "+%  -        ##!* #"'&#  8&  ! ! 1)' #/ #"#'/     - #! "  ; - #":H B1  "   
B:!  # "+'   1   "  "   +) B#) 1  ):! # "#"'B:   " #)): #/ "+#"#'/     - #!  "   +) B#) ! " -:G  
; - #":< #B ) :  -#* #!A1     " #"'   " + # #"'    # #!A1   'B1  "      "#   % #B) B#   G!:B    !1  :
 "! ' "G    )#  "     %  F909' ))#      !1   "!   #"'   - #! "   ! "+#"'!  ! -    / "   G  )  !#)#"'
 ! " - !! "'   "  "%    +"! 1"     "&  !   ; - #":    #  G' / )  - " &       !   #'   ) !:#"'#  %% G
 "     #  G!# #! :1 ) C#  "#"'   %% !     #  "!   G)#B  -# *  G 1  ):! # "! "'   " G-# * ! "'   " #"'
-#   #)!   G   *   )# '  "/   "- "#)8  ! #)#"'!     # + /  "#"!    1  8 "!)1' "+      )# ' !) -# ! #"+ 
#"' 1 # "#B ) :G#"'' / )  - " &       !  ! " "+ "!   8 1! # )  +#  "#"' "/   "- "#)-#   8#"'       
   *%#!   '  !1   ' "I -548$3  *J#!   , %   #""1#)     9   %  &# '()  * "+ # - "  "!)1' '    #   "):
-#' #  %  '#  %        8#"'-#"#+ - " 1"'  #*  "  B) +#  "   1B) !):1 '#    -    %) !  1B  A1 "
 / "   !  !1- #"!  8 @!   # -#:B   A1   'B:)#&9I"/     #  !#1  " '"     ):1"'1): "%  &# '()  * "+
 # - " &  " /#)1# "+   "%  -#  "     " '    9

01234
456789
 6 9
               !"    #   $%"  &  '#( )     * %+) *,   )   - +% )% - .  /$%&  0% )1  *+1 +%2     )
 $ .$3 % 4  & ..* 5 *% %    )%/ &&   %+  & 0 .  ,) %+) *,   ) $   &   -%* -%) +  %& ))   /    / *
/ &  % )  %-% '+ '* 4%26,5)     **' ** 4 $%  &  '7)5,) %)) /  -   %)  %/    %+ ,  $  ,.$ -% 891$ **'3
 1 %+),5) +    %)1  $)$  %+- *,%) 4: ,) ;:% & + 9?@9
   /  *%1$ *% %&   .$' % 34 /,)%+  )% - ./,)  &% )2    1 ) /       %+  %* 1  %  6%  %&5% @A;BC>D2
EFGHI J KLIFGM NGOPKL
:$%4 ** 1 .  5*%),&&   Q%) $% % /%  .% 4    *    ) *%).%%   %+5'% /$%+&  0% R
4STUVWXYWXZ5W 
[\[]T ^_ZX`65
f%  )  /%? %4%)%R@a
 $%& / *RAa
f.  /,* , %RAa
i $% R8a
h   R8a
b  +ch$  & R8a
f  *'  / * )  ,&% )Rga
f,  &   -%Rga
6%& / +,/   RDa
e  % R>a
 +,)    *RBCa
b  %c6 4% 'RB@a
  % .'RCa
d 4%6/ %/%)R>a
:$%  &  '$ ) $ %% %     5*%)%.&% )Rb*, +cj% %  .:%/$ * . %)!"bj:#(;k% * $c6/ %/%:%/$ * . %)
!"k6:#( +b  %c6 4% '?  -% ) 4 %+h  +,/ )!"b6 h#(2:$%)%.&% )  %)  ,/ , %+   ,+$ 1  5%) )% -%/,)  &% 
%%+);1  $% /$)%.&% / ) )  . 45,) %))%) $  $ -%   +,/  +%+&  0% ) & *     %) )1%** )/ &&  + )   5,   
&% $ +) +   +,/       /%))%)2:$ ))  ,/ , %% 5*%)&  .%&% %44 / %/'; * .)    7)  %     )1  $  )4 /,) 
  .  /.  1 $;)    %. / /=, )    ) +/     * ** /             %) +   - +%)   )   %/' 5 ,  $%  &  '7)
 % 4  & /%  %< %  *)  0%$ *+% )2
B



shareholder letter icon 3/26/2024 Letter Continued (Full PDF)
 

IEX Stockholder/Shareholder Letter (IDEX CORP /DE/) 3/26/2024 | www.StockholderLetter.com
Copyright © 2023 - 2025, All Rights Reserved

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.