IEX · 10-Q · 2026Q3 · Full report

Balance Sheet and Liquidity

IDEX CORP /DE/ · 2026-10-28 · Importance 36 · Surprise 14

At September 30, 2026, IDEX reported $602.1 million of cash and cash equivalents, including $541.9 million held outside the United States, and $637.7 million of availability under its $800.0 million Revolving Facility. Revolving Facility borrowings were $158.5 million; working capital was $1,130.6 million and the current ratio was 2.8 to 1. Operating working capital increased $63.0 million from December 31, 2025 to $839.4 million, primarily as higher sales and planned production lifted receivables and inventory. The company was in compliance with debt covenants, with a 1.72-to-1 leverage ratio and 1.39-to-1 net leverage ratio, and Fitch affirmed its BBB+ rating in September 2026.

Key facts

• At September 30, 2026, IDEX had working capital of $1,130.6 million, a current ratio of 2.8 to 1, cash and cash equivalents of $602.1 million, and $541.9 million of cash held outside the United States. source
• At September 30, 2026, IDEX's Revolving Facility capacity was $800.0 million, borrowings were $158.5 million, letters of credit were $3.8 million, and availability was $637.7 million. source
• At September 30, 2026, operating working capital was $839.4 million, compared with $776.4 million at December 31, 2025, an increase of $63.0 million. source
• Cash used in financing activities increased $16.5 million in the nine months ended September 30, 2026; the period included $77.1 million of higher net Revolving Facility payments and $53.0 million of higher share repurchases, partly offset by $16.9 million of higher stock-option exercise proceeds; the prior-year period included a $100.0 million long-term debt payment that did not recur. source
• At September 30, 2026, IDEX was in compliance with its Revolving Facility and other long-term debt covenants; its interest coverage ratio was 14.69 to 1, leverage ratio was 1.72 to 1, and net leverage ratio was 1.39 to 1. source
• Acquisitions and foreign currency translation decreased operating working capital by $9.2 million during the nine months ended September 30, 2026. source
• At September 30, 2026, IDEX had $24.6 million of letters of credit, primarily securing insurance and other performance obligations, of which $3.8 million reduced Revolving Facility borrowing capacity. source