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IDEX cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$214M in Q3 2026 · $667M over twelve months

Operating cash flow$240M
Capital spending−$25.2M
Free cash flow+$214M
Cash / net income1.7×
Cash conversion cycle103 days

Analysis

In Q3 2026, IDEX generated $240M of operating cash flow and spent $25.2M on capital projects, leaving free cash flow of $214M. That is $25.6M more than in Q3 2025 ($189M).

Over the twelve months to Sep 30, 2026, operating cash flow was $753M; the largest uses were buybacks ($301M), dividends ($214M), net borrowing (+) / repaid (−) ($148M); besides operations, cash came from other financing ($13.6M), acquisitions ($300K); the cash balance rose by $7.4M.

Operating cash flow was $240M against net income of $144M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$53.4M, accrued liabilities +$45.3M, inventory −$9.9M.

Its cash conversion cycle was 103 days (receivables 53 + inventory 92 − payables 42).

Free cash flow

IDEX: free cash flow by quarterIDEX: free cash flow by quarter$157MQ4 2024$91.4MQ1 2025$147MQ2 2025$189MQ3 2025$190MQ4 2025$86.0MQ1 2026$177MQ2 2026$214MQ3 2026
Operating cash flow less capital spending.
IDEX: operating cash flow against capital spendingIDEX: operating cash flow against capital spendingOperating cash flowCapital spending$173M$15.5MQ4 2024$106M$14.3MQ1 2025$162M$14.8MQ2 2025$204M$14.8MQ3 2025$210M$19.7MQ4 2025$104M$17.7MQ1 2026$200M$23.0MQ2 2026$240M$25.2MQ3 2026
Latest (Q3 2026): Operating cash flow $240M, Capital spending $25.2M.

Capital allocation, year by year

IDEX: where the cash came from (up) and went (down), by fiscal yearIDEX: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $565MFY2021: Net borrowing $149MFY2021: Shares issued $19.7MFY2021: Capital spending −$72.7MFY2021: Acquisitions −$577MFY2021: Dividends −$161M$734MFY2021FY2022: Operating cash flow $557MFY2022: Net borrowing $275MFY2022: Shares issued $19.3MFY2022: Asset sales $58.3MFY2022: Capital spending −$68.0MFY2022: Acquisitions −$946MFY2022: Buybacks −$148MFY2022: Dividends −$177M$910MFY2022FY2023: Operating cash flow $717MFY2023: Net borrowing −$150MFY2023: Shares issued $21.5MFY2023: Asset sales $119MFY2023: Capital spending −$89.9MFY2023: Acquisitions −$312MFY2023: Buybacks −$24.2MFY2023: Dividends −$191M$857MFY2023FY2024: Operating cash flow $668MFY2024: Net borrowing $657MFY2024: Shares issued $16.7MFY2024: Asset sales $45.1MFY2024: Capital spending −$65.1MFY2024: Acquisitions −$984MFY2024: Dividends −$205M$1.4BFY2024FY2025: Operating cash flow $680MFY2025: Net borrowing −$171MFY2025: Capital spending −$63.6MFY2025: Acquisitions −$76.2MFY2025: Buybacks −$248MFY2025: Dividends −$213M$680MFY2025
Over these 5 years operating cash flow totalled $3.2B; the largest uses were acquisitions ($2.9B) and dividends ($947M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$602M
Debt$1.8B
Net debt$1.2B
Due within a year$700K

IDEX funds itself: free cash flow was $667M over the last twelve months, and $602M of cash and investments stands against $1.8B of debt ($700K due within a year, 860.1× covered by cash).

IDEX: debt maturities by year (FY2025)IDEX: debt maturities by year (FY2025)$700KYear 1$229MYear 2$100MYear 3$500MYear 4$500MYear 5$500MAfter year 5
Principal due in each year as disclosed in the annual report, against $602M of cash and investments now.

Where the cash came from and went

IDEX: sources (+) and uses (−) of cash, Q3 2026IDEX: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$240MNet borrowing (+) / repaid (−)−$108MBuybacks−$74.6MDividends−$54.0MCapital spending−$25.2MCash drawn (+) / kept (−)$21.0MOther financing$2.9MExchange rates−$2.2MOther investing$200K
IDEX: sources (+) and uses (−) of cash, TTM to Q3 2026IDEX: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$753MBuybacks−$301MDividends−$214MNet borrowing (+) / repaid (−)−$148MCapital spending−$85.6MOther financing$13.6MExchange rates−$10.9MCash drawn (+) / kept (−)−$7.4MAcquisitions$300K

From profit to cash

IDEX: net income to operating cash flow, Q3 2026IDEX: net income to operating cash flow, Q3 2026Net income$144MDepreciation & amortization$53.4MStock-based pay$5.7MDeferred taxes−$500KReceivables−$1.8MInventory−$9.9MPayables$5.8MAccrued liabilities$45.3MDeferred revenue$800KPrepaid and other assets−$2.5MOther operating capital−$800KOperating cash flow$240M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026539242103
Q2 2026549442106
Q1 2026549041102
Q4 2025518839100
Q3 2025509339104
Q2 2025509240102
Q1 2025529141101
Q4 202449853897

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$240M−$25.2M—−$74.6M−$54.0M−$108M—$21.0M$214M
Q2 2026$200M−$23.0M—−$77.1M−$53.9M−$13.0M—−$36.3M$177M
Q1 2026$104M−$17.7M—−$76.3M−$52.8M$54.7M—−$5.9M$86.0M
Q4 2025$210M−$19.7M$300K−$72.8M−$53.2M−$82.1M—$13.8M$190M
Q3 2025$204M−$14.8M−$80.7M−$75.0M−$53.5M$53.9M—−$29.7M$189M
Q2 2025$162M−$14.8M—−$50.0M−$53.5M−$12.5M—$42.2M$147M
Q1 2025$106M−$14.3M$4.2M−$50.0M−$52.4M−$30.2M—$26.7M$91.4M
Q4 2024$173M−$15.5M——−$52.3M−$94.1M$6.2M$12.4M$157M

IDEX: income statement and cash flow

IDEX, Q3 2026: revenue $952M (+8% year over year), operating margin 21.9%. The chart follows the revenue to costs, profit and cash.

IDEX: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.