IDEX Corporation (IEX): Business Model Canvas [Dec-2025 Updated]

You're looking to cut through the noise and really understand how a complex industrial player like IDEX Corporation (IEX) actually makes its money, right? After two decades analyzing these giants, I can tell you their late 2025 model is built on disciplined precision engineering and smart bolt-on acquisitions, like the one for Micro-LAM back in July. They aren't just making parts; they're selling mission-critical reliability across Health & Science and Fire & Safety, with net sales estimated between $3,445.3 million and $3,461.3 million for the full year. To see exactly how they structure their value capture-from their 80/20 focus to their high-margin aftermarket service-dive into the full Business Model Canvas breakdown below.

IDEX Corporation (IEX) - Canvas Business Model: Key Partnerships

You're looking at how IDEX Corporation builds its value by leaning on external relationships, which is crucial for a diversified industrial player like this. Honestly, the partnership strategy is heavily weighted toward inorganic growth right now, meaning buying key capabilities.

Strategic bolt-on acquisitions like Micro-LAM (July 2025)

IDEX Corporation executed a significant strategic bolt-on acquisition in July 2025 with Micro-LAM, Inc., which operates in laser-assisted machining and ultra-precision diamond tools, fitting into the Health & Science Technologies segment. The initial cash consideration for Micro-LAM was $90.0 million, with an additional potential earnout of up to $12.0 million in cash contingent on performance metrics over two years. This move expanded IDEX materials science expertise, serving attractive markets like aerospace, defense, and optics. Acquisitions, including Micro-LAM, contributed a positive sales impact of 4% in the third quarter of 2025.

The acquisition strategy also includes integrating larger, complementary businesses, such as Mott Corporation, which closed in September 2024 for a cash consideration of $1 billion. When adjusted for expected tax benefits of approximately $100 million, the net transaction value for Mott was about $900 million. Mott was expected to generate about $200 million in revenue in 2024 with an EBITDA margin in the low 20s.

Here's a quick look at the most recent, material acquisitions shaping the partnership landscape:

Acquired Entity	Acquisition Date	Segment Integration	Cash Consideration (Initial)	Max Potential Earnout
Micro-LAM, Inc.	July 2025	Health & Science Technologies (HST)	$90.0 million	$12.0 million
Mott Corporation	September 2024	Health & Science Technologies (HST)	$1 billion	N/A (Net value approx. $900 million)

The company's total revenue for the quarter ending September 30, 2025, reached $878.70 million, with LTM revenue at $3.42 billion.

Collaboration with Original Equipment Manufacturers (OEMs) for integrated components

IDEX Corporation businesses work closely with OEMs to embed their highly engineered components into customer products. Mott Corporation, for instance, has solved complex engineering challenges by co-innovating with the world's largest technical brands and OEMs for over 60 years. The Health & Science Technologies segment produces optics and opto-mechanical assemblies sold directly to OEMs that manufacture inspection and metrology systems for semiconductor fabrication. The Fire & Safety/Diversified Products segment also serves North America Original Equipment Manufacturers (OEMs).

Technology suppliers for specialized materials and components

The partnership structure includes securing specialized inputs to maintain high-end product quality. The Micro-LAM acquisition specifically expands IDEX expertise in materials science, complementing existing optical technology offerings from businesses like Advanced Thin Films, Iridian Spectral Technologies, and CVI Laser Optics. Mott Corporation's integration complements prior acquisitions like Muon Group and STC Material Solutions, adding unique process-based capabilities for working with specialized materials. IDEX is an applied solutions provider, meaning its component quality relies on deep supplier relationships for the specialized materials used in its mission-critical components.

Channel partners and distributors for global market access

IDEX Corporation leverages a broad distribution network to reach its global customer base. The company has manufacturing operations on five continents and operates in more than 20 countries. The Fluid & Metering Technologies (FMT) segment distributes products like positive displacement pumps and flow meters globally. The company's competitive factors include the effectiveness of its distribution channels.

The global reach is supported by the company's structure:

• IDEX Corporation has about 9,000 employees globally.
• The company focuses on expanding its footprint in emerging markets, where it sees potential across all segments.
• The Fire & Safety/Diversified Products segment relies on demand from North America OEMs, while other segments serve global needs in pharma, life science, and data centers.

Integration teams for acquired entities like Mott Corporation

Integrating acquisitions is a key operational partnership, often managed through established internal models. The Mott Corporation acquisition, which joined the HST segment, is expected to drive EBITDA expansion through the proven application of the 80/20 approach as part of the IDEX Operating Model. The company uses its 80/20 model to focus businesses on the highest value markets and customers. The Micro-LAM leadership, including its founder, will continue to lead its growth within IDEX. The company's commitment to rewarding shareholders through dividends, with the current quarterly rate at $0.71 per share, shows a financial partnership commitment to investors.

IDEX Corporation (IEX) - Canvas Business Model: Key Activities

You're looking at the core actions IDEX Corporation (IEX) takes to run its business as of late 2025. These aren't just vague goals; they are the specific, measurable activities that drive their financial results, like the 5% organic revenue growth seen in the third quarter of 2025.

Executing the disciplined 80/20 operating model for resource focus

IDEX Corporation (IEX) centers its operational strategy on the 80/20 principle, which means focusing 80% of management effort on the 20% of businesses and customers that drive the highest margins and growth. This focus is a key activity that helps the company maintain premium pricing and robust margins, even when the full-year 2025 organic sales growth forecast is only approximately 1%. This disciplined approach is what the CEO specifically mentioned as a control lever to drive momentum within their growth platforms following the third quarter of 2025 results.

The application of this model is central to maximizing the potential of their portfolio, especially following recent inorganic growth.

• Focusing resources on the top 20% of value-driving activities.
• The 80/20 philosophy is used to prioritize execution and portfolio optimization.
• It directly supports the goal of driving long-term, compounding value.

Integrating recent acquisitions to realize synergies and scale

A major ongoing key activity involves integrating recently acquired businesses, like the Mott Corporation acquisition finalized in late 2024. The cash consideration for Mott was $1 billion, with a net transaction value of approximately $900 million. The integration is already showing results, as the Mott integration contributed to the Health & Science Technologies (HST) segment's adjusted EBITDA margin expanding by 120 basis points year-over-year in Q3 2025. The company expects this transaction to be accretive to adjusted earnings per share in fiscal year 2026. The focus now shifts to applying the 80/20 model to these new assets to maximize their potential and realize commercial growth synergies over the next three years.

The company continues to pursue smaller, complementary bolt-on acquisitions, while the current capital deployment focus is tilting toward shareholder returns and these smaller deals.

Manufacturing highly engineered, mission-critical components

IDEX Corporation (IEX) is fundamentally a manufacturer of highly engineered components where the cost to the end user is small compared to the value provided, allowing for strong pricing power. The Health & Science Technologies (HST) segment, which houses many of these specialized products, hit a record high in orders in Q3 2025.

Here's a look at the segment performance driving manufacturing output in Q3 2025:

Segment	Reported Sales Growth (YoY)	Organic Sales Growth (YoY)	Q3 2025 Orders (Reported)	Q3 2025 Adjusted EBITDA Margin
Health & Science Technologies (HST)	22%	10%	$390 million	27.7%
Fluid & Metering Technologies (FMT)	10%	5%	Not specified	Improved by 90 basis points
Fire & Safety/Diversified Products (FSDP)	Not specified	-5% (Organic Sales Decline)	High single-digit growth	Contracted by 200 basis points

The full-year 2025 net sales are guided to be between $3.45-$3.46 billion.

Investing in R&D for new fluidics and optical technologies

While specific R&D dollar figures for 2025 are not clearly reported as a percentage of sales in the latest filings, the strategic focus areas clearly guide where investment is directed. The growth in the HST segment is explicitly driven by momentum in key technology areas.

• Growth is supported by demand in life sciences, pharma, space and defense, and data centers.
• The company is focused on fluidics and optical filters within the HST segment.
• The acquisition of Micro-LAM in July 2025 is noted for enhancing capabilities in optics and data centers.

Driving price capture and operational productivity to offset inflation

Offsetting inflation and tariff impacts is a critical ongoing activity, achieved through a combination of price realization and internal cost control. The company's overall Adjusted EBITDA Margin expanded by 40 basis points to 27.3% in Q3 2025, showing success in this area.

Key financial metrics related to productivity and pricing for 2025 include:

• Price realization in Q3 2025 was approximately 3.5%.
• Platform optimization and cost containment delivered $17 million in savings in Q3 2025.
• Total structural productivity and cost containment efforts are anticipated to yield over $60 million in savings for full-year 2025.
• The company is on track for a Free Cash Flow Conversion of at least 100% for 2025.
• The full-year 2025 Adjusted EBITDA margin is projected to be between 26.5% and 27.5%.

Management had previously noted an expected annualized revenue hit from tariffs of $100 million.

IDEX Corporation (IEX) - Canvas Business Model: Key Resources

You're looking at the core assets IDEX Corporation (IEX) relies on to deliver its mission-critical engineered products. These aren't just line items; they are the tangible and intangible foundations supporting their specialized market positions.

Proprietary fluidics, optics, and applied material science technologies form the bedrock of IDEX Corporation's competitive moat. The company consistently invests to unlock the full potential of this proprietary technology across its segments. A recent example of bolstering this resource base was the acquisition of Micro-LAM, Inc. in July 2025, which brought unique difficult-to-machine forming capabilities directly into the Health & Science Technologies segment. This focus on advanced capabilities is key to serving high-demand areas like data center thermal management and advanced optical technologies.

The physical footprint supporting these technologies includes specialized global manufacturing and production facilities. IDEX Corporation operates manufacturing operations in more than 20 countries. This global network supports a portfolio comprised of more than 50 dynamic businesses worldwide. This scale allows them to serve customers across critical industries with precision components and systems.

Financial strength is a definite Key Resource, providing the flexibility for strategic moves and weathering macro uncertainty. IDEX Corporation ended Q2 2025 with robust liquidity, which acts as a significant buffer. Here's the quick math on that financial position as of the end of the second quarter of 2025:

Financial Metric	Amount / Value (Q2 2025)
Total Liquidity	Approximately $1.1 billion
Cash on Hand	$568 million
Undrawn Revolver Capacity	$541 million
Free Cash Flow (Y/Y Increase)	$147 million (a 25% increase year-over-year)
Adjusted EBITDA Margin	27.4%
Current Ratio	2.79
Debt-to-Equity Ratio	0.5

The company's revised full-year 2025 estimated net sales guidance sits in the range of $3,445.3 to $3,461.3 million, with an expected GAAP diluted EPS guidance narrowed to $6.35 to $6.40. Still, that Q2 liquidity figure of about $1.1 billion is what you want to see when volatility hits customer ordering patterns.

The intellectual property portfolio of patents and trade secrets is crucial, though specific patent counts aren't always public. This resource is evidenced by the company's focus on unlocking the potential of its proprietary technology and acquiring businesses like Iridian Spectral Technologies, which brought advanced, proprietary thin-film design deposition and manufacturing technology for optical filters. This IP underpins their ability to compete in advantaged markets.

Finally, the highly skilled engineering and technical talent is distributed across the organization, enabling the design and manufacture of these specialized components. With thousands of employees globally supporting over 50 businesses, this talent pool is essential for maintaining the operational excellence driven by their 8020-focused operating model. Finance: draft 13-week cash view by Friday.

IDEX Corporation (IEX) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose IDEX Corporation over alternatives, which is really about their deep engineering expertise in niche, high-stakes environments. These aren't off-the-shelf parts; they are mission-critical enablers.

High reliability and uptime for mission-critical applications

The value proposition here is built on trust, especially within the Fire & Safety/Diversified Products (FSDP) segment. Brands like Akron Brass, Hale Products, HURST Jaws of Life, and Vetter specialize in manufacturing what they call the world's most reliable Fire and Safety Equipment. They work to solve problems where failure isn't an option, which is why first responders depend on them.

Precision fluidics and flow control for complex processes

This is heavily driven by the Fluid & Metering Technologies (FMT) segment, which designs pumps, valves, and flow meters. The value is in the exact control of fluids in demanding industries like chemical, food, and energy. Even within the Health & Science Technologies (HST) segment, the acquired Mott business is delivering on this, securing a $40 million multiyear contract for wastewater filtration solutions, with bookings expected to contribute to revenue in the second half of 2025. The FMT segment posted an Adjusted EBITDA Margin of 35% in the second quarter of 2025.

Customized, highly engineered components for OEMs and end-users

IDEX Corporation emphasizes co-innovation. Mott Corporation, for example, has a history of solving complex engineering challenges by working directly with global OEMs and technical brands. This customization capability is key to securing business in high-value markets. The company's overall strategy is focused on its 80/20 principle, prioritizing these advantaged markets where technical expertise creates barriers to competition.

Advanced material science solutions, e.g., Mott's porous structures

The integration of Mott Corporation significantly bolstered IDEX Corporation's capabilities in applied materials science. This acquisition, completed for a cash consideration of approximately $986.2 million (net of cash acquired), brought expertise in sintered porous material structures. Mott is now part of the HST segment, which saw its organic sales increase by 4% in the second quarter of 2025. Management noted that the HST segment is projected to lead growth within the full-year 2025 guidance range, supported by incremental contributions from Mott.

Here's a quick look at how the segments contributed to the top line in 2024, showing where these value propositions are monetized:

Segment	2024 Net Sales Percentage	Q2 2025 Organic Sales Growth
Fluid & Metering Technologies (FMT)	38%	-2%
Health & Science Technologies (HST)	39%	4%
Fire & Safety/Diversified Products (FSDP)	23%	2%

Differentiated rescue tools and fire safety equipment

The FSDP segment delivers this value through brands like HURST Jaws of Life, the sole manufacturer of the Jaws of Life® brand, and Godiva, a leading provider of firefighting pumps. The value is in providing trusted, durable equipment for emergency response. This segment demonstrated strong profitability, posting an Adjusted EBITDA Margin of 29.4% in the first quarter of 2025. The segment's organic sales grew by 2% in the second quarter of 2025.

The company's overall financial outlook for 2025 reflects the demand for these propositions, with an expected full-year organic sales growth guidance of approximately 1% and adjusted diluted EPS guidance between $7.85 and $7.95.

• HURST Jaws of Life: The only manufacturer of the Jaws of Life® brand.
• Hale Products: Manufacturer of high-performance firefighting pumps and fire suppression equipment.
• Vetter Gmbh: Global leader in technically superior pneumatic lifting bags and strut systems.
• Mott secured a $40 million wastewater filtration deal in Q1 2025.

Finance: draft 13-week cash view by Friday.

IDEX Corporation (IEX) - Canvas Business Model: Customer Relationships

You're looking at how IDEX Corporation (IEX) keeps its customers locked in, which is key for an engineered products company. The relationships are built on technical depth, not just transactions.

Dedicated sales and service teams for complex, long-cycle sales

IDEX Corporation structures its engagement around the complexity of the sale. Management noted in Q2 2025 that they were seeing slower customer decision-making, particularly affecting larger orders, which points directly to the long-cycle nature of their core projects. The company's focus on engineered niche products means the sales process requires deep technical alignment with the customer's application. This consultative approach is necessary for their mission-critical components, which are not easily substituted.

The company's structure supports this through its segments, like the Fluid & Safety & Defense (FSD) group, which saw 5% organic sales growth in Q1 2025, driven by municipal water projects and defense contracts, areas known for extended procurement cycles. The backlog built across all three segments in Q1 2025 also suggests a pipeline of these longer-term engagements.

High-touch, consultative relationships with key OEMs

The strategy involves deep collaboration, especially with Original Equipment Manufacturers (OEMs) in their target high-growth platforms like advanced water filtration and defense optics. The recent acquisition of Mott is an example of building capability to serve key customers, securing a $40 million wastewater filtration deal for dairy farm projects, which expands the FSD footprint. This type of win requires a high-touch, solution-oriented approach rather than transactional selling. The company is focused on markets that exhibit high customer stickiness, which is a direct result of these integrated solution sales.

Sustained service and aftermarket support for installed base

A core element of IDEX Corporation's relationship strategy is generating recurring revenue from the installed base through service and aftermarket parts. The business model earns revenue from equipment sales, aftermarket parts, and service contracts. This focus on recurring revenue streams is a deliberate strategy to build resilience against cyclical downturns. While a specific aftermarket revenue percentage for 2025 isn't public, the emphasis on long-term relationships and non-substitutable products supports a sustained service component. The company's strong liquidity, with $568 million in cash at the end of Q2 2025, provides the financial backing to maintain this support infrastructure.

Focusing resources on the top 20% of high-value customers (80/20)

IDEX Corporation explicitly confirms its adherence to the 80/20 philosophy, using it to drive momentum within its growth platforms. This means resources are intentionally concentrated on the customers and applications that deliver the highest value. The CEO noted that the teams are effectively collaborating across businesses to support their fastest growing customers. This focus is how the company maintains elite profitability, with an Adjusted EBITDA margin of 27.3% reported in Q3 2025. The company's ability to pass through cost inflation, assuming roughly $100 million of tariff-related costs in 2025, is partly attributed to the strong pricing power derived from serving these high-value, specialized needs.

Here are some key financial metrics that reflect the operational strength supporting these relationships in 2025:

Metric	Value/Range (As of Late 2025 Data)	Context
Full Year 2025 Organic Sales Growth Guidance	1%-3%	Reflects the pace of new business from established relationships.
Q3 2025 Organic Revenue Growth	5%	Indicates strong momentum in core, relationship-driven areas.
Q2 2025 Free Cash Flow Conversion	94%	Shows high quality of earnings generated from operations.
Q3 2025 Adjusted EBITDA Margin	27.3%	Demonstrates pricing power with key customers.
Full Year 2025 Adjusted EPS Guidance (Midpoint)	$7.89	The expected financial outcome of the business strategy.

The company is executing efficiency programs, targeting about $43 million in operating expense savings in 2025, which helps maintain margin health even when facing headwinds like slower decision-making.

The customer relationship strategy is supported by the following operational focus areas:

• Prioritizing defense and energy transition segments.
• Leveraging scale to drive sourcing savings.
• Building backlog across all three segments.
• Focusing capital deployment toward M&A for growth platforms.
• Delivering solutions in advanced markets like space and data centers.

Finance: review the Q4 2025 forecast against the 80/20 customer revenue concentration model by end of month.

IDEX Corporation (IEX) - Canvas Business Model: Channels

Direct sales force for large industrial and municipal contracts

• Focus on large industrial and municipal contracts.

• The Fire & Safety/Diversified Products (FSDP) segment utilizes this channel for certain large-scale projects.

• FSDP segment reported net sales of $192.9 million for the fourth quarter of 2024.

Global network of specialized distributors and representatives

• Network supports global reach across all segments.

• Health & Science Technologies (HST) segment net sales were $373.2 million in the fourth quarter of 2024.

• Fluid & Metering Technologies (FMT) segment net sales were $299.3 million in the fourth quarter of 2024.

Direct supply to Original Equipment Manufacturers (OEMs)

• Direct supply is a key method for the Fluid & Metering Technologies segment.

• IDEX Corporation's total revenue for the third quarter of CY2025 was $878.7 million.

• IDEX Corporation's revenue for the last twelve months ending September 30, 2025, was $3.42B.

E-commerce platforms for certain aftermarket parts and services

• Used for specific aftermarket parts and services.

• The overall company's Market Capitalization as of Q3 CY2025 was $12.57 billion.

• The company's Adjusted EBITDA margin for Q3 CY2025 was 27.3%.

Channel-Relevant Financial Snapshot (Based on Q4 2024 Segment Data)

Segment	Q4 2024 Net Sales (Millions USD)	Q4 2024 Adjusted EBITDA Margin
Health & Science Technologies (HST)	$373.2	26.4%
Fluid & Metering Technologies (FMT)	$299.3	31.6%
Fire & Safety/Diversified Products (FSDP)	$192.9	28.1%

Latest Reported Financial Metrics (2025)

• Q3 CY2025 Organic Revenue growth year-on-year: 5%.

• Full Year 2025 Organic Sales Growth Guidance: 1%.

• Q2 2025 Free Cash Flow: $147 million.

• Q3 2025 Free Cash Flow Margin: 21.5%.

IDEX Corporation (IEX) - Canvas Business Model: Customer Segments

You're looking at the core of IDEX Corporation's value delivery, which is segmented by the highly specialized end markets they serve. Honestly, their customer base isn't about volume; it's about precision and mission-critical applications. For context, IDEX Corporation reported total sales of $3.3 Billion for the full year 2024, and they are guiding for 2025 full-year organic sales growth between 1% and 3%.

The customer segments map directly to their three operating segments. The key is that IDEX's engineered products often aren't easily substituted, which helps lock in long-term customer relationships, as CEO Eric D. Ashleman noted.

Here is a breakdown of the customer segments based on the first quarter of 2025 net sales to external customers:

Customer Segment Group	Q1 2025 Net Sales (External)	Q1 2025 Organic Sales Change	Q2 2025 Adjusted EBITDA Margin
Health & Science Technologies (HST)	$340.1 Million	-1%	26%
Fluid & Metering Technologies (FMT)	$290.2 Million	-4%	35%
Fire & Safety/Diversified Products (FSDP)	$184.0 Million	+5%	29.4%

The dynamics within these groups show where the near-term focus is. For instance, in the second quarter of 2025, HST saw organic sales increase by 4%, while FMT's organic sales declined by 2%.

Health & Science Technologies (HST): Life sciences, semiconductor, space, and defense

This group serves customers focused on high-growth, technical niches. You see their strength in the order book, with HST reaching a record high of $390 Million in organic orders in the third quarter of 2025.

• Life sciences and pharma customers are showing continued strength.
• Semiconductor capital equipment is expected to see a second-half recovery in 2025.
• Defense and space systems are key drivers, with Q3 2025 organic revenue growing 10%.
• The segment is expected to lead overall growth in 2025 with high single-digit potential.

Fluid & Metering Technologies (FMT): Water/wastewater, energy, and industrial processing

FMT customers are tied to infrastructure and industrial cycles. This segment boasts the highest margin profile, hitting an adjusted EBITDA margin of 35% in the second quarter of 2025, which is defintely something to watch.

• Municipal water projects provided a positive offset in Q1 2025.
• Automotive and agricultural sectors caused a Q1 2025 organic sales drop of 4%.
• The segment posted a 7% organic order increase in Q2 2025, suggesting future sales stabilization.

Fire & Safety/Diversified Products (FSDP): Fire/rescue, municipal, and dispensing markets

This segment supports municipal services and industrial automation. While FSDP saw strong 5% organic sales growth in Q1 2025, management noted headwinds later in the year, with Q3 2025 seeing a 5% decline in organic sales due to funding disruptions.

• Fire OEM demand in North America supports the midpoint of the 2025 growth expectation.
• Municipal water infrastructure deals are a key positive driver.
• The segment experienced a 200 basis point contraction in adjusted EBITDA margin in Q3 2025.

Global industrial companies requiring precision fluid handling

This is the overarching theme connecting the segments, often realized through strategic acquisitions. For example, the acquisition of Mott Corporation in September 2024 bolstered the HST segment, bringing in customers needing advanced filtration for applications like dairy farm wastewater treatment, securing a $40 Million deal for FSDP's footprint expansion.

• Customer acquisition relies on specialized engineering and proprietary tech.
• The 80/20 operating model focuses resources on the best opportunities within these niche markets.
• The company is deploying capital to build growth platforms in advanced markets.

Finance: draft 13-week cash view by Friday.

IDEX Corporation (IEX) - Canvas Business Model: Cost Structure

You're looking at the major outflows for IDEX Corporation as of late 2025, which is heavily weighted toward complex engineering and operational upkeep. The structure reflects a commitment to specialized, high-value markets.

High fixed costs from specialized manufacturing and R&D

IDEX Corporation's model inherently carries significant fixed costs tied to maintaining specialized manufacturing capabilities and continuous Research & Development. Reduced demand in certain end markets could lead to the delay or cancellation of existing orders, which unfavorably impacts the absorption of these fixed manufacturing costs. This is a known risk area for the Company.

Cost of goods sold (COGS) for complex, engineered materials

While a direct COGS percentage isn't always broken out, the focus on complex, engineered materials means input costs and manufacturing overhead are substantial components of the Cost of Goods Sold. For instance, in the third quarter of 2025, the Adjusted EBITDA margin was 27.3%, which is the result of net sales minus COGS and operating expenses (excluding certain items). The Q3 2025 Adjusted EBITDA was reported as $239.8 million on sales of $878.7 million.

The cost structure is managed through operational levers:

• Operational productivity improvements and platform optimization savings offset higher employee-related costs in Q3 2025.
• Adjusted gross margin in Q3 2025 was relatively flat, excluding the benefit of lower fair value inventory step-up charges.

Selling, General, and Administrative (SG&A) expenses, including M&A integration

Corporate overhead, a key part of SG&A, shows the ongoing cost of running the enterprise, including integration efforts from recent acquisitions like Mott. Corporate costs included in consolidated Adjusted EBITDA were $21.7 million for the third quarter of 2025. This was slightly up from $21.5 million in the same prior year period, with both periods benefiting from variable compensation adjustments. For the second quarter of 2025, these corporate costs were $22.9 million.

Targeting $60+ million in full-year 2025 savings from platform optimization

IDEX Corporation is actively working to offset cost pressures through internal efficiency programs. The combined impact from platform optimization and delayering efforts, plus other cost containment actions, is targeted to deliver significant savings for the full year 2025. As of the first quarter of 2025 reports, the platform optimization and delayering efforts were on track for an anticipated total of $43 million impact for 2025. Furthermore, an additional tranche of cost containment was identified, yielding an extra $20 million of savings for 2025. This brings the explicitly stated cost mitigation target to $63 million for the year.

Capital expenditures for facility and equipment upgrades

Investment in the physical assets supporting specialized manufacturing remains a cost component. Earlier in 2025, the projection for Capital Expenditures for the full year was set around $90 million. This spending supports the company's growth platform playbook and facility needs.

Here's a look at some key 2025 financial metrics relevant to the cost base, based on Q3 2025 results:

Metric	Amount/Value	Period/Context
Reported Sales	$878.7 million	Q3 2025
Adjusted EBITDA	$239.8 million	Q3 2025
Adjusted EBITDA Margin	27.3%	Q3 2025
Corporate Costs (Adjusted EBITDA component)	$21.7 million	Q3 2025
Platform Optimization Savings Target (Cumulative)	$43 million	Anticipated Full Year 2025 Impact
Additional Cost Containment Savings Target	$20 million	For Full Year 2025
Projected Capital Expenditures	$90 million	Full Year 2025 Estimate

Finance: review the Q4 2025 projected CapEx against actual spend by January 15, 2026.

IDEX Corporation (IEX) - Canvas Business Model: Revenue Streams

The revenue streams for IDEX Corporation (IEX) are fundamentally built upon the sale of its highly specialized, engineered equipment, supplemented by recurring, high-margin revenue from services and parts. This dual approach helps stabilize performance across different economic cycles.

The core of the revenue generation comes from sales of highly engineered products and systems. These are the complex pumps, valves, flow meters, and optical components that serve mission-critical applications. You see this reflected in the performance of the operating segments. For instance, in the third quarter of 2025, the Health & Science Technologies (HST) segment showed significant momentum, with reported sales increasing by $\text{22%}$ year-over-year, driven by demand in data centers, pharma, and space/defense markets. The Fluid & Metering Technologies (FMT) segment also contributed, with organic sales increasing by $\text{4%}$ in that same quarter.

The second critical component is aftermarket parts, service, and repair revenue. While the search results don't provide a direct percentage split, this stream is consistently noted as being high-margin, providing a durable revenue base. The strength in the HST segment, for example, includes consumables for semiconductors, which suggests a steady stream of repeat business beyond the initial system sale.

To give you a snapshot of the recent financial performance anchoring these streams, here are the key figures from the late 2025 reporting period:

Financial Metric	Value
Q3 2025 Revenue	$878.7 million
Q3 2025 Organic Revenue Growth	5%
Full-Year 2025 Net Sales Estimate Range	$3,445.3 million to $3,461.3 million
Adjusted Diluted EPS Guidance for 2025	$7.86 to $7.91
Revenue (Last Twelve Months) as of Q3 2025	$3.42 Billion USD

The overall revenue picture for the full year 2025 is based on management's narrowed outlook. The company is projecting full-year net sales to fall between $\text{3,445.3 million}$ and $\text{3,461.3 million}$ dollars. This projection underpins the adjusted diluted EPS guidance, which management narrowed to a range of $\text{7.86}$ to $\text{7.91}$ dollars per share for the full year.

You can see the underlying demand through the order book, which hit a record in Q3 2025. This suggests strong future revenue visibility, even if order cycles are elongating due to external factors like trade policy shifts.

The revenue drivers by segment in Q3 2025 included:

• HST segment sales up $\text{22%}$ reported.
• HST segment organic orders up $\text{5%}$.
• FMT segment organic sales up $\text{4%}$.
• FSDP segment sales saw a $\text{3%}$ decline.

The company is definitely leaning into the higher-growth platforms to drive future sales. Finance: draft 13-week cash view by Friday.