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IDEX Corporation (IEX) vs Eli Lilly and Company (LLY): Which Is the Better Buy in 2026?

As of 2026-09-17, IEX is overvalued at $223, with a DCF intrinsic value of $180 and a margin of safety of -24%. LLY is undervalued at $1145, with an intrinsic value of $1598 and a margin of safety of 28%. Of the two, LLY has the wider margin of safety.

IEX
IDEX Corporation
$222.64
VS
LLY
Eli Lilly and Company
$1145.45

Rewards

IEX
  • ★IDEX Corporation scores 84/100 on the Economic Moat Score (Wide Moat), with margin stability as the strongest competitive dimension.
  • ★Altman Z-Score of 4.68 indicates very low bankruptcy risk — the company is firmly in the safe zone.
LLY
  • ★Eli Lilly and Company has maintained ROIC above 15% for 4 consecutive years, indicating a durable competitive advantage.
  • ★Gross margin of 83.4% indicates strong pricing power — typical of businesses with significant intellectual property or brand strength.
  • ★Eli Lilly and Company scores 73/100 on the Economic Moat Score (Wide Moat), with roic consistency as the strongest competitive dimension.

Risks

IEX
    LLY
    • ⚠FCF yield of 1.1% is below 3%, meaning the market is pricing in substantial future growth to justify the current price.
    • ⚠Insiders have sold $10.0M worth of stock in the past 3 months — significant insider liquidation.

    Key Valuation Metrics

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    IEX
    LLY
    Valuation
    $555.61M
    Free Cash Flow
    $11.07B
    3.39%
    FCF Yield
    1.08%
    31.99
    Trailing P/E
    38.42
    23.13
    Forward P/E
    24.21
    Quality & Moat
    10.66%
    ROIC
    38.43%
    12.96%
    ROE
    102.29%
    44.73%
    Gross Margin
    83.40%
    1.68
    PEG Ratio
    1.12
    Balance Sheet Safety
    0.32
    Net Debt / Equity
    1.36
    N/A
    Interest Coverage
    N/A
    1.31
    Net Debt / EBITDA
    1.10
    1.32%
    Dividend Yield
    0.61%
    IEX: 4Ties: 2LLY: 6
    IEXLLY

    Historical Fundamentals

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    IEX

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    LLY

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    Price ÷ Earnings Per Share — how many years of current earnings you're paying for at today's price. Lower P/E may indicate undervaluation. The dashed forward point is the forward P/E — today's price ÷ analyst consensus EPS.

    $1 Retained Earnings Test

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    IEX
    $-4.09
    created per $1 retained over 3 years
    Market Cap Declined
    Σ Retained
    $975.7M
    Δ Market Cap
    $-3.99B
    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer
    LLY
    $27.49
    created per $1 retained over 3 years
    Exceptional Value Creator
    Σ Retained
    $22.34B
    Δ Market Cap
    +$614.01B
    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

    Buffett's "$1 Test": For every $1 of earnings retained, has management created at least $1 of market value?
    > $1 created per $1 retained = Value Creator · < $1 created = Value Destroyer

    Discounted Cash Flow (DCF) Analysis

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    IEX
    23.7% Overvalued
    Price is 23.7% above estimated fair value
    Current Price: $222.64
    Fair Value: $179.94
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued
    LLY
    28.3% Margin of Safety
    Price is 28.3% below estimated fair value
    Current Price: $1145.45
    Fair Value: $1597.97
    Strongly undervalued
    Undervalued
    Fairly valued
    Overvalued
    Strongly overvalued

    Reverse DCF — Market-Implied Growth

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    IEX

    What growth rate is the market pricing in at $223?

    +12.4%
    Market-Implied Owner Earnings Growth
    Standard FCF implies +14.0%

    The market implies +12.4% Owner Earnings growth, above historical trends.

    Standard FCF implies a demanding +14.0%, reflecting heavy growth investment.

    LLY

    What growth rate is the market pricing in at $1145?

    +20.7%
    Market-Implied Owner Earnings Growth
    Standard FCF implies +29.4%

    The market implies +20.7% Owner Earnings growth, below historical trends — potential opportunity.

    Standard FCF implies a more demanding +29.4%, reflecting heavy growth investment expected to generate future returns.

    Economic Moat Score

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    IEX
    84/100
    Wide Moat
    70+ Wide · 40-69 Narrow · <40 None

    Wide moat with strength across all dimensions. Margin Stability is the standout factor.

    Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 4 years of fundamental data.
    LLY
    73/100
    Wide Moat
    70+ Wide · 40-69 Narrow · <40 None

    Wide moat driven primarily by roic consistency. Reinvestment Efficiency is the area most vulnerable to competitive pressure.

    Composite score measuring competitive advantage durability across four dimensions: returns above cost of capital, pricing power stability, revenue predictability, and capital efficiency. Based on 5 years of fundamental data.

    Forensic Accounting

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    IEX
    -2.53
    Unlikely Manipulator
    Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

    M-Score Trend

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.
    LLY
    -1.83
    Possible Manipulator
    Above -1.78 = likely manipulator · -2.22 to -1.78 = grey zone

    M-Score Trend

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

    Beneish's 8-variable model estimates the probability of earnings manipulation. An M-Score above -1.78 signals elevated risk — companies in this range have historically been 3-5× more likely to be manipulating earnings. Scores between -2.22 and -1.78 fall in a grey zone warranting further investigation.

    Ownership Breakdown

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    IEX
    Insiders 0.2%Institutions 105.4%
    No. of Institutional Holders1,015
    High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.
    LLY
    Insiders 0.2%Institutions 85.3%Retail & Other 14.5%
    No. of Institutional Holders5,890
    High insider ownership aligns management incentives with shareholders — a key signal in Buffett-style analysis. Institutional concentration can indicate smart-money conviction but also crowding risk.

    High insider ownership aligns management incentives with shareholders. Institutional concentration can indicate smart-money conviction but also crowding risk.

    Insider Buying Activity

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    IEX
    0
    Buys (3M)
    1
    Buys (12M)
    Total value (12M): $101,647
    CHRISTENSON CARL R
    Director
    $101,647
    @ $169.41 · 2025-11-05
    HELMKAMP KATRINA L.
    Director
    $399,026
    @ $159.61 · 2025-08-07
    Open market purchases · includes direct & indirect ownership · excludes option exercises
    LLY
    0
    Buys (3M)
    0
    Buys (12M)
    MONTARCE LUCAS E
    Chief Financial Officer
    $494,627
    @ $691.79 · 2025-08-15
    ALVAREZ RALPH
    Director
    $500,473
    @ $660.25 · 2025-08-13
    VAN NAARDEN JACOB S.
    Officer
    $647,360
    @ $647.36 · 2025-08-13
    FYRWALD J. ERIK
    Director
    $1.01M
    @ $642.33 · 2025-08-12
    RICKS DAVID A
    Chief Executive Officer
    $1.05M
    @ $644.77 · 2025-08-12
    SKOVRONSKY DANIEL
    Officer
    $634,405
    @ $634.40 · 2025-08-12
    SULZBERGER GABRIELLE
    Director
    $75,018
    @ $641.18 · 2025-08-12
    JACKSON JAMERE
    Director
    $127,913
    @ $639.57 · 2025-08-08
    Open market purchases · includes direct & indirect ownership · excludes option exercises

    Open market purchases · includes direct & indirect ownership · excludes option exercises.

    Insider Selling Activity

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    IEX
    1
    Sells (3M)
    2
    Sells (12M)
    Total value (12M): $3.40M
    ANDERSON LISA M
    General Counsel
    $91,859
    @ $238.59 · 2026-08-12
    ASHLEMAN ERIC D
    Chief Executive Officer
    $3.31M
    @ $215.22 · 2026-05-11
    MAHENDRA AKHIL
    Chief Financial Officer
    $45,222
    @ $180.89 · 2025-06-05
    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives
    LLY
    2
    Sells (3M)
    40
    Sells (12M)
    Total value (12M): $3.64B
    JONSSON PATRIK
    Officer
    $7.64M
    @ $1175.10 · 2026-08-17
    ZAKROWSKI DONALD A
    Officer
    $2.37M
    @ $1185.01 · 2026-08-10
    YUFFA ILYA
    Officer
    $2.88M
    @ $1150.77 · 2026-06-10
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $15.75M
    @ $995.36 · 2026-05-06
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $322.38M
    @ $1103.48 · 2026-01-07
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $1.51M
    @ $1085.01 · 2026-01-05
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $3.90M
    @ $1085.04 · 2025-12-29
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $2.85M
    @ $1085.17 · 2025-12-24
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $260,409
    @ $1085.04 · 2025-12-23
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $161.08M
    @ $1095.35 · 2025-11-25
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $17.34M
    @ $1109.30 · 2025-11-25
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $152.06M
    @ $1068.52 · 2025-11-24
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $111.50M
    @ $1058.66 · 2025-11-21
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $39.07M
    @ $1051.66 · 2025-11-20
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $176.10M
    @ $1051.17 · 2025-11-19
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $62.31M
    @ $1034.78 · 2025-11-18
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $10.19M
    @ $1030.68 · 2025-11-17
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $183.80M
    @ $1030.87 · 2025-11-14
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $48.02M
    @ $1030.26 · 2025-11-13
    ZAKROWSKI DONALD A
    Officer
    $1.01M
    @ $1010.50 · 2025-11-13
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $308.41M
    @ $1011.18 · 2025-11-12
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $279.35M
    @ $986.64 · 2025-11-11
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $16.41M
    @ $972.52 · 2025-11-10
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $167.09M
    @ $933.26 · 2025-11-05
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $38.47M
    @ $951.56 · 2025-11-05
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $479,038
    @ $910.72 · 2025-11-04
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $266.65M
    @ $888.83 · 2025-11-03
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $260.17M
    @ $863.35 · 2025-10-31
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $3.16M
    @ $863.24 · 2025-10-10
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $9.04M
    @ $852.49 · 2025-10-09
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $86.23M
    @ $850.27 · 2025-10-08
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $22.72M
    @ $848.01 · 2025-10-07
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $137.04M
    @ $850.22 · 2025-10-06
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $161.22M
    @ $837.93 · 2025-10-03
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $92.50M
    @ $821.55 · 2025-10-02
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $107.36M
    @ $794.15 · 2025-10-01
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $177.29M
    @ $821.47 · 2025-10-01
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $86.79M
    @ $763.39 · 2025-09-30
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $18.06M
    @ $763.09 · 2025-09-19
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $81.53M
    @ $764.65 · 2025-09-18
    ZAKROWSKI DONALD A
    Officer
    $734,930
    @ $734.93 · 2025-08-28
    YUFFA ILYA
    Officer
    $783,762
    @ $627.01 · 2025-08-11
    LILLY ENDOWMENT, INC.
    Beneficial Owner of more than 10% of a Class of Security
    $225.42M
    @ $805.07 · 2025-07-24
    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives

    Direct ownership only · excludes indirect, option exercises, planned (10b5-1) sales & derivatives.

    🎭 Mr. Market's Mood

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    IEX
    FearGreed
    😐Neutral(56/100)

    "Market is pricing this stock without strong emotion in either direction"

    Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.
    LLY
    FearGreed
    😐Neutral(56/100)

    "Market is pricing this stock without strong emotion in either direction"

    Composite sentiment score based on 6 market signals. Inspired by Buffett's "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

    Composite sentiment score based on market signals. Inspired by Buffett’s "Mr. Market" allegory — fear = potential opportunity, greed = potential risk. Must be used alongside fundamental analysis, not in isolation.

    ⚖️ Buffett Signal

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    IEX
    ⚪Awaiting DCF Data

    The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

    DCF Margin of Safety: N/AMr. Market's Mood: Neutral (56)
    LLY
    ⚪Awaiting DCF Data

    The Buffett Signal cross-references market sentiment with DCF valuation. Configure the DCF Analysis above to generate a signal.

    DCF Margin of Safety: N/AMr. Market's Mood: Neutral (56)
    View IEX Full AnalysisView LLY Full Analysis

    Frequently Asked Questions: IEX vs LLY

    Is IDEX Corporation or Eli Lilly and Company more undervalued in 2026?▼

    Based on our discounted cash flow model, LLY trades at a 28.3% margin of safety (intrinsic value $1598 vs. price $1145), compared to IEX's -23.7% margin of safety (intrinsic $180 vs. $223).

    Which stock has a wider economic moat, IDEX Corporation or Eli Lilly and Company?▼

    IEX scores 84/100 (Wide moat), while LLY scores 73/100 (Wide moat). The moat score measures competitive advantage durability across ROIC consistency, margin stability, revenue predictability, and reinvestment efficiency.

    Which company has better free cash flow, IDEX Corporation or Eli Lilly and Company?▼

    IDEX Corporation (IEX) generates a 3.4% free cash flow yield, compared to Eli Lilly and Company's 1.1%. A higher FCF yield means the business converts more of its market value into cash that can be returned to shareholders or reinvested.

    Which stock has higher return on invested capital, IDEX Corporation or Eli Lilly and Company?▼

    LLY earns 38.4% ROIC versus IEX's 10.7%. A higher ROIC means the company generates more profit per dollar of capital employed, a hallmark of durable competitive advantage in Buffett-style analysis.

    Which dividend is safer, IDEX Corporation's or Eli Lilly and Company's?▼

    IEX's dividend earns a safety score of 94/100 (Very Safe), compared to LLY's 64/100 (Safe). IEX has raised its dividend for 3 consecutive years.