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Side-by-side financial comparison of IDEX Corporation (IEX) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
IDEX Corporation is the larger business by last-quarter revenue ($398.4M vs $219.1M, roughly 1.8× Iridium Communications Inc.). IDEX Corporation runs the higher net margin — 30.1% vs 9.9%, a 20.3% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 1.9%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
Iridium Communications Inc. is a publicly traded American company headquartered in McLean, Virginia, United States. Iridium operates the Iridium satellite constellation, a system of 80 satellites: 66 are active satellites and the remaining fourteen function as in-orbit spares. Iridium Satellites are used for worldwide voice and data communication from handheld satellite phones, satellite messenger communication devices and integrated transceivers, as well as for two-way satellite messaging se...
IEX vs IRDM — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $219.1M |
| Net Profit | $120.0M | $21.6M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | 23.2% |
| Net Margin | 30.1% | 9.9% |
| Revenue YoY | 16.7% | 1.9% |
| Net Profit YoY | 25.7% | — |
| EPS (diluted) | $1.61 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | $219.1M | ||
| Q4 25 | $899.1M | $212.9M | ||
| Q3 25 | $878.7M | $226.9M | ||
| Q2 25 | $865.4M | $216.9M | ||
| Q1 25 | $814.3M | $214.9M | ||
| Q4 24 | $862.9M | $213.0M | ||
| Q3 24 | $798.2M | $212.8M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | $21.6M | ||
| Q4 25 | $128.3M | $24.9M | ||
| Q3 25 | $127.8M | $37.1M | ||
| Q2 25 | $131.6M | $22.0M | ||
| Q1 25 | $95.5M | $30.4M | ||
| Q4 24 | $123.2M | $36.3M | ||
| Q3 24 | $119.1M | $24.4M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | 23.2% | ||
| Q4 25 | 20.4% | 25.9% | ||
| Q3 25 | 21.1% | 30.9% | ||
| Q2 25 | 21.7% | 23.2% | ||
| Q1 25 | 17.4% | 28.1% | ||
| Q4 24 | 19.2% | 24.5% | ||
| Q3 24 | 21.0% | 25.8% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | 9.9% | ||
| Q4 25 | 14.3% | 11.7% | ||
| Q3 25 | 14.5% | 16.4% | ||
| Q2 25 | 15.2% | 10.1% | ||
| Q1 25 | 11.7% | 14.2% | ||
| Q4 24 | 14.3% | 17.1% | ||
| Q3 24 | 14.9% | 11.5% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $0.24 | ||
| Q3 25 | $1.70 | $0.35 | ||
| Q2 25 | $1.74 | $0.20 | ||
| Q1 25 | $1.26 | $0.27 | ||
| Q4 24 | $1.61 | $0.30 | ||
| Q3 24 | $1.57 | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.0B | — |
| Total Assets | $6.9B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $96.5M | ||
| Q3 25 | $593.8M | $88.5M | ||
| Q2 25 | $568.2M | $79.3M | ||
| Q1 25 | $594.1M | $50.9M | ||
| Q4 24 | $620.8M | $93.5M | ||
| Q3 24 | $633.2M | $159.6M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | $1.8B | ||
| Q3 24 | $2.1B | — |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $462.6M | ||
| Q3 25 | $4.0B | $450.5M | ||
| Q2 25 | $4.0B | $473.6M | ||
| Q1 25 | $3.9B | $518.4M | ||
| Q4 24 | $3.8B | $576.6M | ||
| Q3 24 | $3.8B | $663.8M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $2.5B | ||
| Q3 25 | $7.0B | $2.6B | ||
| Q2 25 | $6.9B | $2.6B | ||
| Q1 25 | $6.8B | $2.6B | ||
| Q4 24 | $6.7B | $2.7B | ||
| Q3 24 | $7.0B | $2.8B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | 3.80× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | 3.05× | ||
| Q3 24 | 0.55× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | — |
| Free Cash FlowOCF − Capex | $86.0M | — |
| FCF MarginFCF / Revenue | 21.6% | — |
| Capex IntensityCapex / Revenue | 4.4% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $108.6M | ||
| Q3 25 | $203.5M | $100.8M | ||
| Q2 25 | $161.7M | $129.6M | ||
| Q1 25 | $105.7M | $61.1M | ||
| Q4 24 | $172.6M | $104.8M | ||
| Q3 24 | $205.3M | $118.6M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $75.1M | ||
| Q3 25 | $188.7M | $79.2M | ||
| Q2 25 | $146.9M | $108.9M | ||
| Q1 25 | $91.4M | $36.5M | ||
| Q4 24 | $157.1M | $80.5M | ||
| Q3 24 | $191.6M | $100.0M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | 35.3% | ||
| Q3 25 | 21.5% | 34.9% | ||
| Q2 25 | 17.0% | 50.2% | ||
| Q1 25 | 11.2% | 17.0% | ||
| Q4 24 | 18.2% | 37.8% | ||
| Q3 24 | 24.0% | 47.0% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | 13.7% | ||
| Q4 25 | 2.2% | 15.7% | ||
| Q3 25 | 1.7% | 9.5% | ||
| Q2 25 | 1.7% | 9.5% | ||
| Q1 25 | 1.8% | 11.4% | ||
| Q4 24 | 1.8% | 11.4% | ||
| Q3 24 | 1.7% | 8.7% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 4.37× | ||
| Q3 25 | 1.59× | 2.71× | ||
| Q2 25 | 1.23× | 5.90× | ||
| Q1 25 | 1.11× | 2.01× | ||
| Q4 24 | 1.40× | 2.88× | ||
| Q3 24 | 1.72× | 4.85× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
Segment breakdown not available.
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
