We report the first direct measurements of spin/orbital magnetization ratios in a ferromagnetic material using X-ray diffraction. The simple technique, based on diffraction of elliptically polarized white synchrotron radiation, produces spin/orbital ratios that are independent of the precise photon polarization. Results from HoFe₂ are shown to be generally in very close agreement with relativistic spin-polarized band calculations and known moments, but the measured orbital moment at the iron site is anomalously large.