Nordson Corporation (NDSN)
Industrials · $17.7B market cap · SEC CIK 0000072331
fundamentals score out of 100
Next reports on Dec 8, 2026, after the close, with analysts expecting $3.50 in earnings per share.
The case for NDSN
- Generated $661M of free cash flow in FY2025, 24% of revenue.
- Return on equity of 18%.
- Gross margin of 55% absorbs cost shocks.
- Pays a modest 1.2% dividend.
The case against
- Pricey at 31.8× earnings, against a long-run market average nearer 20×.
- Long-term debt of $1.9B against $120M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Industrials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 41 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 55 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 75 |
| Momentumhow the price has behaved lately | 77 |
| Stabilityhow violently it moves, what it owes and what it pays you | 53 |
- Each factor except momentum is half fixed thresholds, half rank among the 79 Industrials companies.
Key numbers
| Price / earnings | 31.8× |
|---|---|
| Price / book | 5.08× |
| Price / sales | 5.9× |
| Revenue growth (YoY) | +7.0% |
| EPS growth (YoY) | +24.2% |
| Gross margin | 55% |
| Operating margin | 26% |
| Net margin | 19% |
| Return on equity | 18% |
| Debt / equity | 0.54× |
| Current ratio | 1.82 |
| Dividend yield | 1.16% |
| Beta | 1.00 |
| 52-week range | $220.47 – $339.12 |
| Position in that range | 84% of the way up |
| 3-month return | +6.2% |
| 1-year return | +39.7% |
Five years of financials, as filed
Pulled from Nordson Corporation's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $2.8B | $2.7B | $2.6B | $2.6B | $2.4B |
| Operating income | $712M | $674M | $673M | $702M | $615M |
| Net income | $484M | $467M | $487M | $513M | $454M |
| Operating cash flow | $719M | $556M | $641M | $513M | $546M |
| Capital expenditure | $58.1M | $64.4M | $34.6M | $51.4M | $38.3M |
| Total assets | $6.0B | $5.9B | $5.2B | $4.2B | $3.8B |
| Shareholder equity | $3.1B | $2.9B | $2.7B | $2.4B | $2.2B |
| Cash | $120M | $130M | $136M | $122M | $171M |
| Long-term debt | $1.9B | $2.1B | $1.5B | $595M | $773M |
| Free cash flow | $661M | $492M | $607M | $462M | $508M |
| Operating margin | 25.5% | 25.1% | 25.6% | 27.1% | 26.0% |
| Net margin | 17.4% | 17.4% | 18.5% | 19.8% | 19.2% |
| Diluted shares | 56.9M | 57.6M | 57.6M | 58.2M | 58.7M |
Share count is down 3.1% over 4 years. Buybacks have been shrinking the pie.
What Nordson Corporation says it does
Description of Business Nordson is an innovative precision technology company that leverages a scalable growth framework to deliver top tier growth with leading margins and returns. We engineer, manufacture and market differentiated products and systems used for precision dispensing, applying and controlling of adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces and various medical products such as: catheters, cannulas, medical balloons and medical tubing. These products are supported with extensive application expertise and direct global sales and service. We serve a wide variety of consumer non-durable, consumer durable and technology end markets including packaging, electronics, medical, appliances, energy, transportation, precision agriculture, building and construction, and general product assembly and finishing. Our strategy for long-term growth…
Risk factors NDSN lists in its 10-K
- Risks Related to Economic Conditions
- Changes in U.S. or international economic conditions, including declines in the industries we serve, could adversely affect the revenue stream and profitability of any of our operations
- Significant movements in foreign currency exchange rates or change in monetary policy may harm our financial results
- Risks Related to Our Business and Operations
- Political conditions in and between the United States and foreign countries in which we operate could adversely affect our business
- Failure to retain our existing senior management team or the inability to attract and retain qualified personnel could hurt our business and inhibit our ability to operate and grow successfully
- The Company may be subject to risks relating to organizational changes
- Increased information technology threats and cybersecurity incidents and threats could pose a risk to our systems, networks, products, solutions and services and those of our business partners
- We may face particular data protection and privacy risks in connection with the European Union's Global Data Protection Regulation, the California Consumer Privacy Act and other privacy laws and regulations
- A disruption in, shortage of, or price increases for, supply of our components and raw materials may adversely impact our business, financial condition, results of operations and cash flows
- We may be incorporating artificial intelligence technologies into our products, services and processes. These technologies may present business, compliance and reputational risks
- Risks Related to the Execution of Our Strategy
- Our growth strategy includes acquisitions, and we may not be able to execute on our acquisition strategy or integrate acquisitions successfully
- Any impairment in the value of our intangible assets, including goodwill, would negatively affect our operating results and total capitalization