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Side-by-side financial comparison of IDEX Corporation (IEX) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
WATTS WATER TECHNOLOGIES INC is the larger business by last-quarter revenue ($625.1M vs $398.4M, roughly 1.6× IDEX Corporation). IDEX Corporation runs the higher net margin — 30.1% vs 13.4%, a 16.7% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 15.7%). WATTS WATER TECHNOLOGIES INC produced more free cash flow last quarter ($140.3M vs $86.0M). Over the past eight quarters, WATTS WATER TECHNOLOGIES INC's revenue compounded faster (4.6% 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.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
IEX vs WTS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $625.1M |
| Net Profit | $120.0M | $83.7M |
| Gross Margin | 99.9% | 49.5% |
| Operating Margin | 43.3% | 18.2% |
| Net Margin | 30.1% | 13.4% |
| Revenue YoY | 16.7% | 15.7% |
| Net Profit YoY | 25.7% | 24.0% |
| EPS (diluted) | $1.61 | $2.50 |
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 | — | ||
| Q4 25 | $899.1M | $625.1M | ||
| Q3 25 | $878.7M | $611.7M | ||
| Q2 25 | $865.4M | $643.7M | ||
| Q1 25 | $814.3M | $558.0M | ||
| Q4 24 | $862.9M | $540.4M | ||
| Q3 24 | $798.2M | $543.6M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | — | ||
| Q4 25 | $128.3M | $83.7M | ||
| Q3 25 | $127.8M | $82.2M | ||
| Q2 25 | $131.6M | $100.9M | ||
| Q1 25 | $95.5M | $74.0M | ||
| Q4 24 | $123.2M | $67.5M | ||
| Q3 24 | $119.1M | $69.1M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | 49.5% | ||
| Q3 25 | 44.5% | 48.8% | ||
| Q2 25 | 45.3% | 50.6% | ||
| Q1 25 | 45.3% | 48.8% | ||
| Q4 24 | 42.5% | 46.7% | ||
| Q3 24 | 44.3% | 47.3% |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | — | ||
| Q4 25 | 20.4% | 18.2% | ||
| Q3 25 | 21.1% | 18.2% | ||
| Q2 25 | 21.7% | 21.0% | ||
| Q1 25 | 17.4% | 15.7% | ||
| Q4 24 | 19.2% | 16.5% | ||
| Q3 24 | 21.0% | 17.1% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | — | ||
| Q4 25 | 14.3% | 13.4% | ||
| Q3 25 | 14.5% | 13.4% | ||
| Q2 25 | 15.2% | 15.7% | ||
| Q1 25 | 11.7% | 13.3% | ||
| Q4 24 | 14.3% | 12.5% | ||
| Q3 24 | 14.9% | 12.7% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $2.50 | ||
| Q3 25 | $1.70 | $2.45 | ||
| Q2 25 | $1.74 | $3.01 | ||
| Q1 25 | $1.26 | $2.21 | ||
| Q4 24 | $1.61 | $2.02 | ||
| Q3 24 | $1.57 | $2.06 |
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 | $405.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.0B | $2.0B |
| Total Assets | $6.9B | $2.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $405.5M | ||
| Q3 25 | $593.8M | $457.7M | ||
| Q2 25 | $568.2M | $369.3M | ||
| Q1 25 | $594.1M | $336.8M | ||
| Q4 24 | $620.8M | $386.9M | ||
| Q3 24 | $633.2M | $303.9M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.1B | — |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $2.0B | ||
| Q3 25 | $4.0B | $2.0B | ||
| Q2 25 | $4.0B | $1.9B | ||
| Q1 25 | $3.9B | $1.8B | ||
| Q4 24 | $3.8B | $1.7B | ||
| Q3 24 | $3.8B | $1.7B |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $2.9B | ||
| Q3 25 | $7.0B | $2.7B | ||
| Q2 25 | $6.9B | $2.6B | ||
| Q1 25 | $6.8B | $2.5B | ||
| Q4 24 | $6.7B | $2.4B | ||
| Q3 24 | $7.0B | $2.4B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | — | ||
| 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 | — | $154.7M |
| Free Cash FlowOCF − Capex | $86.0M | $140.3M |
| FCF MarginFCF / Revenue | 21.6% | 22.4% |
| Capex IntensityCapex / Revenue | 4.4% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $154.7M | ||
| Q3 25 | $203.5M | $122.4M | ||
| Q2 25 | $161.7M | $69.7M | ||
| Q1 25 | $105.7M | $55.2M | ||
| Q4 24 | $172.6M | $139.5M | ||
| Q3 24 | $205.3M | $90.7M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $140.3M | ||
| Q3 25 | $188.7M | $110.9M | ||
| Q2 25 | $146.9M | $59.5M | ||
| Q1 25 | $91.4M | $45.6M | ||
| Q4 24 | $157.1M | $127.5M | ||
| Q3 24 | $191.6M | $84.3M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | 22.4% | ||
| Q3 25 | 21.5% | 18.1% | ||
| Q2 25 | 17.0% | 9.2% | ||
| Q1 25 | 11.2% | 8.2% | ||
| Q4 24 | 18.2% | 23.6% | ||
| Q3 24 | 24.0% | 15.5% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | — | ||
| Q4 25 | 2.2% | 2.3% | ||
| Q3 25 | 1.7% | 1.9% | ||
| Q2 25 | 1.7% | 1.6% | ||
| Q1 25 | 1.8% | 1.7% | ||
| Q4 24 | 1.8% | 2.2% | ||
| Q3 24 | 1.7% | 1.2% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 1.85× | ||
| Q3 25 | 1.59× | 1.49× | ||
| Q2 25 | 1.23× | 0.69× | ||
| Q1 25 | 1.11× | 0.75× | ||
| Q4 24 | 1.40× | 2.07× | ||
| Q3 24 | 1.72× | 1.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
