Nordson Corporation NDSN

IndustrialsMachinery, Tools, Heavy Vehicles, Trains & ShipsUnited States of America

Last close 322.67 USD on Nov 1, 2026, +35.4% year to date

Quant rating

Quant rating B Rank 109 of 486 in Industrials

Growth C 276 of 486
Valuation C 315 of 486
Quality B 123 of 486
Revisions B 112 of 486
Momentum B 120 of 486

Wall Street consensus Buy (2.38)Average target 350.16 USD +8.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 18.0B
Enterprise value: 19.6B
52-week range: 225.67 – 338.69
3-year range: 167.51 – 338.69
Dividend yield: 1.17%
Beta (5 years): 0.99
Shares outstanding: 55.7M
Next earnings: Dec 8, 2026

About the company

Nordson Corporation is a precision technology company. The Company engineers, manufactures and markets differentiated products and systems used for precision dispensing, applying and controlling adhesives, coatings, polymers, sealants, biomaterials, and other fluids, to test and inspect for quality, and to treat and cure surfaces and various medical products. Its segments include Industrial Precision Solutions, Medical and Fluid Solutions and Advanced Technology Solutions. The Industrial Precision Solutions segment delivers dispensing and material processing technology to diverse end markets. This segment serves the consumer durables, non-durables, agricultural and industrial markets. The Medical and Fluid Solutions segment includes fluid management solutions for medical, high-tech industrial and other diverse end markets. The Company's Advanced Technology Solutions segment integrates its product technologies into the progressive stages of a customer’s production processes.

Growth and profitability fiscal year ends October 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,792	2,690	2,629	2,590	2,362	–
Revenue growth	3.8%	2.3%	1.5%	9.7%	11.4%	5.6%
EPS (basic, normalized)	10.24	9.73	9.03	9.43	7.74	–
EPS growth	5.2%	7.8%	−4.2%	21.8%	–	–
Gross margin	55.2%	55.2%	54.2%	55.1%	56.1%	55.2%
Net margin	17.4%	17.4%	18.5%	19.8%	19.2%	18.5%
ROE	16.2%	16.9%	19.9%	23.0%	23.2%	19.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	113
Current ratio	1.82x
Long-term debt (mil)	1,538
Net debt (mil)	1,636
Total equity (mil)	3,269
Net debt / equity	0.50x
Net debt / EBITDA	1.82x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,792	+3.8%	7.0x	900	+7.6%	21.8x	10.24	+5.2%	31.5x
2026	3,057	+9.5%	6.4x	974	+8.3%	20.1x	11.95	+16.7%	27.0x
2027	3,213	+5.1%	6.1x	1,035	+6.3%	18.9x	12.98	+8.7%	24.9x
2028	3,406	+6.0%	5.8x	1,107	+6.9%	17.7x	14.30	+10.1%	22.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,057	0.0%	+2.5%	+3.7%	11.95	0.0%	+3.1%	+4.3%
2027	3,213	0.0%	+2.3%	+3.9%	12.98	0.0%	+3.3%	+5.2%
2028	3,406	0.0%	+2.0%	+4.0%	14.30	0.0%	+5.2%	+7.2%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	651	662	744	615	683	742	752	669	741	818
Sales mean (mil)	661	656	736	639	674	723	761	653	729	780
Surprise	−1.6%	+0.8%	+1.1%	−3.7%	+1.3%	+2.6%	−1.3%	+2.4%	+1.6%	+4.8%
EPS reported	2.34	2.41	2.78	2.06	2.42	2.73	3.03	2.37	2.86	3.25
EPS mean	2.31	2.33	2.59	2.09	2.36	2.64	2.93	2.38	2.82	3.10
Surprise	+1.1%	+3.3%	+7.3%	−1.3%	+2.5%	+3.5%	+3.5%	−0.2%	+1.5%	+4.7%

Peer comparison Machinery, Tools, Heavy Vehicles, Trains & Ships

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
NDSN Nordson Corporation	18.0B	1.82x	17.4%	5.50x	27.0x	24.9x	20.1x	18.9x
ETN Eaton Corporation PLC	143.7B	2.91x	14.9%	7.09x	27.2x	22.9x	20.9x	17.8x
PH Parker-Hannifin Corporation	113.5B	1.43x	17.0%	7.36x	25.3x	22.8x	17.9x	16.4x
EMR Emerson Electric Co	92.0B	2.13x	12.7%	4.51x	25.1x	22.7x	18.7x	17.4x
VRT Vertiv Holdings Co	89.5B	−0.36x	13.0%	16.27x	33.0x	24.1x	24.5x	17.5x
BE Bloom Energy Corporation	60.1B	0.75x	−4.4%	31.06x	62.3x	37.4x	56.7x	31.1x
Mean		1.45x	11.8%	11.97x	33.3x	25.8x	26.5x	19.9x
Median		1.62x	14.0%	7.23x	27.1x	23.5x	20.5x	17.6x

Technical analysis

1M−2.6%
3M+6.9%
1Y+38.8%
3Y+58.0%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Nordson Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,792	2,690	2,629	2,590	2,362	2,121
Cost of revenue	1,252	1,204	1,203	1,164	1,038	991
Gross profit	1,540	1,486	1,425	1,427	1,324	1,130
Selling, general & administrative expenses	813	812	753	724	709	694
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	14.9	–	–	0	0	87.4
Other operating expenses	0	0	0	0	0	0
Operating income	712	674	673	702	615	350
Net interest income (expense)	−101	−84.0	−56.8	−20.4	−23.3	−30.5
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−13.0	−4.5	−0.6	−32.7	−17.6	−17.6
Net income before taxes	598	585	615	649	574	301
Provision for taxes	113	118	128	136	120	52.0
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	484	467	487	513	454	250
Extraordinary items	–	–	–	–	–	–
Net income	484	467	487	513	454	250
EBIT, normalized	746	674	673	702	615	437
EBITDA, normalized	896	810	785	802	719	550
Basic EPS, normalized	10.24	9.73	9.03	9.43	7.74	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Nordson Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	108	116	116	163	300	208
Receivables	588	595	591	537	489	472
Total inventory	445	477	455	383	327	277
Prepaid expenses	102	87.5	68.0	48.8	48.3	43.8
Other current assets	0	0	0	0	0	19.6
Total current assets	1,243	1,275	1,229	1,133	1,165	1,021
Property, plant & equipment	594	638	499	456	466	481
Goodwill	3,305	3,281	2,784	1,805	1,713	1,713
Intangibles	682	741	673	329	357	408
Long-term investments	14.0	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	80.2	66.0	66.5	97.6	89.2	52.4
Total assets	5,918	6,001	5,252	3,820	3,791	3,675
Liabilities
Accounts payable	121	97.8	106	99.3	91.7	70.9
Payable/accrued	–	–	–	–	–	–
Accrued expenses	231	237	216	223	219	185
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	321	109	121	397	40.0	44.0
Other current liabilities	85.2	84.7	139	115	94.5	63.3
Total current liabilities	758	528	582	834	445	363
Long-term debt	1,690	2,113	1,633	357	797	1,078
Minority interest	–	–	–	–	–	–
Other liabilities	426	427	439	335	390	474
Total liabilities	2,874	3,069	2,654	1,526	1,632	1,916
Shareholders' equity
Preferred stock	–	–	0	0	0	0
Common stock	12.3	12.3	12.3	12.3	12.3	12.3
Additional paid-in capital	741	714	668	627	585	535
Retained earnings (accumulated deficit)	4,601	4,295	3,989	3,652	3,265	2,909
Treasury stock	−2,210	−1,905	−1,875	−1,789	−1,528	−1,471
Other equity	−100	−185	−196	−208	−176	−226
Total equity	3,044	2,932	2,598	2,294	2,159	1,759
Total liabilities & shareholders' equity	5,918	6,001	5,252	3,820	3,791	3,675

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Nordson Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	484	467	487	513	454	250
Depreciation, depletion & amortization	151	136	112	99.9	104	113
Deferred taxes	−12.6	−18.6	−16.1	−10.7	4.1	−14.0
Non-cash items	40.0	24.4	32.2	73.9	−45.4	107
Changes in working capital	56.8	−53.1	25.8	−163	29.0	46.9
Cash from operations	719	556	641	513	546	502
Investing activities
Capital expenditures	−58.1	−64.4	−34.6	−51.4	−38.3	−50.5
Other investing cash flows	31.4	−780	−1,402	−171	5.1	−144
Cash from investing	−26.7	−844	−1,437	−223	−33.2	−194
Financing activities
Financing cash flow items	–	–	–	–	0	0
Cash dividends paid	−179	−161	−150	−126	−97.7	−88.3
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−527	456	901	−290	−325	−163
Cash from financing	−706	294	751	−416	−423	−252
Foreign exchange effects	6.4	−6.0	−2.7	−10.9	1.8	0.3
Net change in cash	−7.5	0.3	−47.8	−137	91.7	57.1
Free cash flow	661	492	607	462	508	452

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.