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Side-by-side financial comparison of IDEX Corporation (IEX) and Illinois Tool Works (ITW), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Illinois Tool Works is the larger business by last-quarter revenue ($4.1B vs $899.1M, roughly 4.6× IDEX Corporation). Illinois Tool Works runs the higher net margin — 14.3% vs 19.3%, a 5.0% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (4.2% vs 4.1%). Illinois Tool Works produced more free cash flow last quarter ($858.0M vs $189.8M). Over the past eight quarters, IDEX Corporation's revenue compounded faster (6.0% CAGR vs 1.5%).
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.
Illinois Tool Works Inc. (ITW) is an American Fortune 500 company that produces engineered fasteners and components, equipment and consumable systems, and specialty products. It was founded in 1912 by Byron L. Smith and has built its growth on a "small-wins strategy" based on decentralization, simplicity, customer-focused innovation, and acquisitions.
IEX vs ITW — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $899.1M | $4.1B |
| Net Profit | $128.3M | $790.0M |
| Gross Margin | 43.1% | 53.0% |
| Operating Margin | 20.4% | 26.5% |
| Net Margin | 14.3% | 19.3% |
| Revenue YoY | 4.2% | 4.1% |
| Net Profit YoY | 4.1% | 5.3% |
| EPS (diluted) | $1.71 | $2.72 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $899.1M | $4.1B | ||
| Q3 25 | $878.7M | $4.1B | ||
| Q2 25 | $865.4M | $4.1B | ||
| Q1 25 | $814.3M | $3.8B | ||
| Q4 24 | $862.9M | $3.9B | ||
| Q3 24 | $798.2M | $4.0B | ||
| Q2 24 | $807.2M | $4.0B | ||
| Q1 24 | $800.5M | $4.0B |
| Q4 25 | $128.3M | $790.0M | ||
| Q3 25 | $127.8M | $821.0M | ||
| Q2 25 | $131.6M | $755.0M | ||
| Q1 25 | $95.5M | $700.0M | ||
| Q4 24 | $123.2M | $750.0M | ||
| Q3 24 | $119.1M | $1.2B | ||
| Q2 24 | $141.3M | $759.0M | ||
| Q1 24 | $121.4M | $819.0M |
| Q4 25 | 43.1% | 53.0% | ||
| Q3 25 | 44.5% | 53.2% | ||
| Q2 25 | 45.3% | 52.8% | ||
| Q1 25 | 45.3% | 52.6% | ||
| Q4 24 | 42.5% | 52.1% | ||
| Q3 24 | 44.3% | 52.5% | ||
| Q2 24 | 45.4% | 52.3% | ||
| Q1 24 | 44.6% | 51.7% |
| Q4 25 | 20.4% | 26.5% | ||
| Q3 25 | 21.1% | 27.4% | ||
| Q2 25 | 21.7% | 26.4% | ||
| Q1 25 | 17.4% | 24.8% | ||
| Q4 24 | 19.2% | 26.2% | ||
| Q3 24 | 21.0% | 26.5% | ||
| Q2 24 | 22.6% | 26.2% | ||
| Q1 24 | 20.1% | 28.4% |
| Q4 25 | 14.3% | 19.3% | ||
| Q3 25 | 14.5% | 20.2% | ||
| Q2 25 | 15.2% | 18.6% | ||
| Q1 25 | 11.7% | 18.2% | ||
| Q4 24 | 14.3% | 19.1% | ||
| Q3 24 | 14.9% | 29.2% | ||
| Q2 24 | 17.5% | 18.8% | ||
| Q1 24 | 15.2% | 20.6% |
| Q4 25 | $1.71 | $2.72 | ||
| Q3 25 | $1.70 | $2.81 | ||
| Q2 25 | $1.74 | $2.58 | ||
| Q1 25 | $1.26 | $2.38 | ||
| Q4 24 | $1.61 | $2.53 | ||
| Q3 24 | $1.57 | $3.91 | ||
| Q2 24 | $1.86 | $2.54 | ||
| Q1 24 | $1.60 | $2.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $580.0M | $851.0M |
| Total DebtLower is stronger | $1.8B | $7.7B |
| Stockholders' EquityBook value | $4.0B | $3.2B |
| Total Assets | $6.9B | $16.1B |
| Debt / EquityLower = less leverage | 0.45× | 2.38× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $580.0M | $851.0M | ||
| Q3 25 | $593.8M | $924.0M | ||
| Q2 25 | $568.2M | $788.0M | ||
| Q1 25 | $594.1M | $873.0M | ||
| Q4 24 | $620.8M | $948.0M | ||
| Q3 24 | $633.2M | $947.0M | ||
| Q2 24 | $700.7M | $862.0M | ||
| Q1 24 | $616.3M | $959.0M |
| Q4 25 | $1.8B | $7.7B | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | $7.1B | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
| Q4 25 | $4.0B | $3.2B | ||
| Q3 25 | $4.0B | $3.2B | ||
| Q2 25 | $4.0B | $3.2B | ||
| Q1 25 | $3.9B | $3.2B | ||
| Q4 24 | $3.8B | $3.3B | ||
| Q3 24 | $3.8B | $3.4B | ||
| Q2 24 | $3.7B | $3.0B | ||
| Q1 24 | $3.6B | $3.0B |
| Q4 25 | $6.9B | $16.1B | ||
| Q3 25 | $7.0B | $16.1B | ||
| Q2 25 | $6.9B | $16.0B | ||
| Q1 25 | $6.8B | $15.5B | ||
| Q4 24 | $6.7B | $15.1B | ||
| Q3 24 | $7.0B | $15.8B | ||
| Q2 24 | $5.9B | $15.6B | ||
| Q1 24 | $5.9B | $15.1B |
| Q4 25 | 0.45× | 2.38× | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | 2.14× | ||
| Q3 24 | 0.55× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.37× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $209.5M | $963.0M |
| Free Cash FlowOCF − Capex | $189.8M | $858.0M |
| FCF MarginFCF / Revenue | 21.1% | 21.0% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.2% | 2.6% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 1.63× | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | $616.8M | $2.7B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $209.5M | $963.0M | ||
| Q3 25 | $203.5M | $1.0B | ||
| Q2 25 | $161.7M | $550.0M | ||
| Q1 25 | $105.7M | $592.0M | ||
| Q4 24 | $172.6M | $1.1B | ||
| Q3 24 | $205.3M | $891.0M | ||
| Q2 24 | $133.6M | $687.0M | ||
| Q1 24 | $156.6M | $589.0M |
| Q4 25 | $189.8M | $858.0M | ||
| Q3 25 | $188.7M | $904.0M | ||
| Q2 25 | $146.9M | $449.0M | ||
| Q1 25 | $91.4M | $496.0M | ||
| Q4 24 | $157.1M | $996.0M | ||
| Q3 24 | $191.6M | $783.0M | ||
| Q2 24 | $117.7M | $571.0M | ||
| Q1 24 | $136.6M | $494.0M |
| Q4 25 | 21.1% | 21.0% | ||
| Q3 25 | 21.5% | 22.3% | ||
| Q2 25 | 17.0% | 11.1% | ||
| Q1 25 | 11.2% | 12.9% | ||
| Q4 24 | 18.2% | 25.3% | ||
| Q3 24 | 24.0% | 19.7% | ||
| Q2 24 | 14.6% | 14.2% | ||
| Q1 24 | 17.1% | 12.4% |
| Q4 25 | 2.2% | 2.6% | ||
| Q3 25 | 1.7% | 2.9% | ||
| Q2 25 | 1.7% | 2.5% | ||
| Q1 25 | 1.8% | 2.5% | ||
| Q4 24 | 1.8% | 3.0% | ||
| Q3 24 | 1.7% | 2.7% | ||
| Q2 24 | 2.0% | 2.9% | ||
| Q1 24 | 2.5% | 2.4% |
| Q4 25 | 1.63× | 1.22× | ||
| Q3 25 | 1.59× | 1.24× | ||
| Q2 25 | 1.23× | 0.73× | ||
| Q1 25 | 1.11× | 0.85× | ||
| Q4 24 | 1.40× | 1.49× | ||
| Q3 24 | 1.72× | 0.77× | ||
| Q2 24 | 0.95× | 0.91× | ||
| Q1 24 | 1.29× | 0.72× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
IEX
| Fluid And Metering Technologies | $305.0M | 34% |
| Fireand Safety | $125.0M | 14% |
| Pumps | $105.7M | 12% |
| Water1 | $92.1M | 10% |
| Performance Pneumatic Technologies | $70.2M | 8% |
| Sealing Solutions | $64.0M | 7% |
| Energy | $47.9M | 5% |
| Material Processing Technologies | $37.2M | 4% |
| Dispensing | $33.5M | 4% |
| Valves | $22.7M | 3% |
ITW
Segment breakdown not available.
