Nordson (NDSN)
Market Price (4/19/2026): $282.02 | Market Cap: $15.7 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Nordson (NDSN)
Market Price (4/19/2026): $282.02Market Cap: $15.7 BilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% Low stock price volatilityVol 12M is 22% Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, and Circular Economy & Recycling. Themes include Factory Automation, Show more. | Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -39% | Key risksNDSN key risks include [1] foreign currency volatility impacting its substantial international revenue and [2] the effective execution and integration of its acquisition-based growth strategy. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 26% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 25%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23% |
| Low stock price volatilityVol 12M is 22% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, and Circular Economy & Recycling. Themes include Factory Automation, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -30%, 3Y Excs Rtn is -39% |
| Key risksNDSN key risks include [1] foreign currency volatility impacting its substantial international revenue and [2] the effective execution and integration of its acquisition-based growth strategy. |
Qualitative Assessment
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Nordson (NDSN) stock has gained about 20% since 12/31/2025 because of the following key factors:
1. Record First Quarter Fiscal 2026 Financial Results and Increased Full-Year Guidance.
Nordson reported record first-quarter fiscal year 2026 results on February 18, 2026, for the period ending January 31, 2026. The company's adjusted earnings per diluted share were a record $2.37, representing a 15% increase year-over-year, which topped consensus estimates. Sales also reached a first-quarter record of $669 million, marking a 9% increase year-over-year and exceeding forecasts. This growth was driven by a 7% organic sales increase. Following these strong results, Nordson increased its full-year fiscal 2026 guidance for sales to a range of $2.86 billion to $2.98 billion and adjusted earnings per diluted share to a range of $11.00 to $11.60.
2. Robust Performance in Advanced Technology Solutions, Driven by Semiconductor Demand.
The Advanced Technology Solutions (ATS) segment was a significant driver of Nordson's strong performance, achieving a remarkable 21% organic sales increase in the first quarter of fiscal 2026. This growth was largely fueled by rising demand in semiconductor applications and x-ray inspection systems, highlighting the company's strength in high-growth, precision technology markets.
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1. Record First Quarter Fiscal 2026 Financial Results and Increased Full-Year Guidance.
Nordson reported record first-quarter fiscal year 2026 results on February 18, 2026, for the period ending January 31, 2026. The company's adjusted earnings per diluted share were a record $2.37, representing a 15% increase year-over-year, which topped consensus estimates. Sales also reached a first-quarter record of $669 million, marking a 9% increase year-over-year and exceeding forecasts. This growth was driven by a 7% organic sales increase. Following these strong results, Nordson increased its full-year fiscal 2026 guidance for sales to a range of $2.86 billion to $2.98 billion and adjusted earnings per diluted share to a range of $11.00 to $11.60.
2. Robust Performance in Advanced Technology Solutions, Driven by Semiconductor Demand.
The Advanced Technology Solutions (ATS) segment was a significant driver of Nordson's strong performance, achieving a remarkable 21% organic sales increase in the first quarter of fiscal 2026. This growth was largely fueled by rising demand in semiconductor applications and x-ray inspection systems, highlighting the company's strength in high-growth, precision technology markets.
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Stock Movement Drivers
Fundamental Drivers
The 17.6% change in NDSN stock from 12/31/2025 to 4/18/2026 was primarily driven by a 8.3% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 239.69 | 281.89 | 17.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,792 | 2,846 | 1.9% |
| Net Income Margin (%) | 17.4% | 18.4% | 5.9% |
| P/E Multiple | 27.7 | 30.1 | 8.3% |
| Shares Outstanding (Mil) | 56 | 56 | 0.5% |
| Cumulative Contribution | 17.6% |
Market Drivers
12/31/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| NDSN | 17.6% | |
| Market (SPY) | -5.4% | 61.8% |
| Sector (XLI) | 11.9% | 78.5% |
Fundamental Drivers
The 25.0% change in NDSN stock from 9/30/2025 to 4/18/2026 was primarily driven by a 12.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 225.47 | 281.89 | 25.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,784 | 2,846 | 2.2% |
| Net Income Margin (%) | 16.3% | 18.4% | 12.5% |
| P/E Multiple | 28.0 | 30.1 | 7.5% |
| Shares Outstanding (Mil) | 56 | 56 | 1.2% |
| Cumulative Contribution | 25.0% |
Market Drivers
9/30/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| NDSN | 25.0% | |
| Market (SPY) | -2.9% | 57.3% |
| Sector (XLI) | 12.9% | 74.3% |
Fundamental Drivers
The 41.7% change in NDSN stock from 3/31/2025 to 4/18/2026 was primarily driven by a 19.6% change in the company's P/E Multiple.| (LTM values as of) | 3312025 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 198.94 | 281.89 | 41.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,672 | 2,846 | 6.5% |
| Net Income Margin (%) | 16.9% | 18.4% | 8.6% |
| P/E Multiple | 25.1 | 30.1 | 19.6% |
| Shares Outstanding (Mil) | 57 | 56 | 2.4% |
| Cumulative Contribution | 41.7% |
Market Drivers
3/31/2025 to 4/18/2026| Return | Correlation | |
|---|---|---|
| NDSN | 41.7% | |
| Market (SPY) | 16.3% | 74.7% |
| Sector (XLI) | 33.8% | 78.6% |
Fundamental Drivers
The 31.8% change in NDSN stock from 3/31/2023 to 4/18/2026 was primarily driven by a 22.1% change in the company's P/E Multiple.| (LTM values as of) | 3312023 | 4182026 | Change |
|---|---|---|---|
| Stock Price ($) | 213.95 | 281.89 | 31.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,592 | 2,846 | 9.8% |
| Net Income Margin (%) | 19.2% | 18.4% | -4.1% |
| P/E Multiple | 24.6 | 30.1 | 22.1% |
| Shares Outstanding (Mil) | 57 | 56 | 2.5% |
| Cumulative Contribution | 31.8% |
Market Drivers
3/31/2023 to 4/18/2026| Return | Correlation | |
|---|---|---|
| NDSN | 31.8% | |
| Market (SPY) | 63.3% | 63.3% |
| Sector (XLI) | 78.8% | 74.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NDSN Return | 28% | -6% | 12% | -20% | 17% | 15% | 46% |
| Peers Return | 24% | -11% | 25% | 12% | 6% | 9% | 76% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 3% | 87% |
Monthly Win Rates [3] | |||||||
| NDSN Win Rate | 67% | 50% | 58% | 50% | 67% | 75% | |
| Peers Win Rate | 63% | 35% | 57% | 57% | 57% | 75% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| NDSN Max Drawdown | -11% | -23% | -14% | -20% | -19% | 0% | |
| Peers Max Drawdown | -7% | -29% | -5% | -8% | -17% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GGG, ITW, PH, DOV, IEX. See NDSN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/17/2026 (YTD)
How Low Can It Go
| Event | NDSN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -27.8% | -25.4% |
| % Gain to Breakeven | 38.5% | 34.1% |
| Time to Breakeven | 615 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -44.4% | -33.9% |
| % Gain to Breakeven | 79.7% | 51.3% |
| Time to Breakeven | 66 days | 148 days |
| 2018 Correction | ||
| % Loss | -26.8% | -19.8% |
| % Gain to Breakeven | 36.6% | 24.7% |
| Time to Breakeven | 315 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -74.1% | -56.8% |
| % Gain to Breakeven | 285.4% | 131.3% |
| Time to Breakeven | 595 days | 1,480 days |
Compare to GGG, ITW, PH, DOV, IEX
In The Past
Nordson's stock fell -27.8% during the 2022 Inflation Shock from a high on 12/10/2021. A -27.8% loss requires a 38.5% gain to breakeven.
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About Nordson (NDSN)
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through two segments, Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS). The IPS segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products. It also offers automated and manual dispensing products and systems to apply adhesive and sealant materials; dispensing and curing systems to coat and cure containers; systems to apply liquid paints and coatings to consumer and industrial products; and systems to apply powder paints and coatings to metal, plastic, and wood products, as well as ultraviolet equipment for use in curing and drying operations for specialty coatings, semiconductor materials, and paints. The ATS segment provides automated dispensing systems for the attachment, protection, and coating of fluids, as well as related gas plasma treatment systems for cleaning and conditioning surfaces; precision manual and semi-automated dispensers, minimally invasive interventional delivery devices, plastic molded syringes, cartridges, tips, fluid connection components, tubing, balloons, and catheters; and bond testing and automated optical, acoustic microscopy, and x-ray inspection systems for use in semiconductor and printed circuit board industries. The company markets its products through direct sales force, as well as distributors and sales representatives. Nordson Corporation was founded in 1935 and is headquartered in Westlake, Ohio.
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Here are 1-3 brief analogies to describe Nordson (NDSN):
- Like a more focused Danaher, providing essential precision application and inspection systems for diverse manufacturing processes.
- An Illinois Tool Works (ITW) that specializes in high-precision fluid dispensing, coating, and inspection equipment for industrial applications.
- Imagine a Graco (GGG) that also makes advanced precision dispensing and inspection systems for medical devices and semiconductor manufacturing.
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- Fluid Dispensing Systems: Systems engineered for the precise application and control of adhesives, coatings, sealants, biomaterials, and other fluids across diverse industries.
- Coating and Laminating Systems: Equipment used for applying various coatings and laminating materials to disposable products, roll goods, and containers.
- Product Assembly Systems: Automated systems designed for assembling plastic, metal, and wood products, as well as for paper and paperboard converting applications.
- Paint and Powder Coating Systems: Systems for applying liquid paints and powder coatings to consumer, industrial, metal, plastic, and wood products.
- Thermoplastic Melt Stream Components: Components and systems integrated into the thermoplastic melt stream for polymer processing.
- UV Curing and Drying Equipment: Ultraviolet systems utilized for curing and drying specialty coatings, semiconductor materials, and paints.
- Gas Plasma Treatment Systems: Systems for cleaning and conditioning surfaces prior to various application processes.
- Medical Delivery Devices and Components: Precision manual and semi-automated dispensers, minimally invasive interventional delivery devices, syringes, catheters, and other fluid connection components for medical use.
- Inspection and Test Systems: Advanced systems for bond testing and automated optical, acoustic microscopy, and x-ray inspection in semiconductor and printed circuit board manufacturing.
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Nordson (NDSN) sells primarily to other companies (B2B) across a wide range of industries globally. The provided background description does not identify specific major customer companies by name or their public symbols. Instead, it describes the industries and applications that utilize Nordson's products and systems. Based on this information, Nordson's major customers can be categorized into the following types of companies:
- Consumer and Industrial Product Manufacturers: This broad category includes companies producing packaged goods, disposable products (e.g., diapers, hygiene products), paper and paperboard products, as well as manufacturers of various plastic, metal, and wood products. These customers utilize Nordson's systems for adhesive dispensing, coating, laminating, assembly, and applying liquid and powder paints and coatings.
- Electronics and Semiconductor Industries: Customers in this sector include manufacturers of semiconductors and printed circuit boards. They use Nordson's automated dispensing systems for attachment, protection, and coating of fluids, gas plasma treatment systems for surface conditioning, and advanced inspection systems (optical, acoustic microscopy, x-ray) for quality control.
- Medical and Life Sciences Device Manufacturers: This category encompasses companies involved in the production of medical devices. These customers leverage Nordson's precision manual and semi-automated dispensers, minimally invasive interventional delivery devices, and plastic molded components such as syringes, cartridges, tips, fluid connection components, tubing, balloons, and catheters.
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Sundaram "Naga" Nagarajan
President and Chief Executive Officer
Sundaram "Naga" Nagarajan serves as the President and Chief Executive Officer of Nordson Corporation, a precision technology company. Prior to joining Nordson in August 2019, Mr. Nagarajan had a 23-year career with Illinois Tool Works Inc. (ITW), a Fortune 200 company, holding roles of increasing responsibility. Most recently at ITW, he was the Executive Vice President of the ITW Automotive OEM Segment, a business segment exceeding $3 billion. Under his leadership, the Automotive OEM segment consistently delivered profitable revenue growth through both organic and acquisitive means. Earlier in his career, a company he was involved with was acquired by ITW in 1996, and he continued to advance within ITW for the next 23 years. He also served as Executive Vice President of the Welding Segment at ITW.
Daniel Hopgood
Executive Vice President and Chief Financial Officer
Daniel Hopgood joined Nordson Corporation as Executive Vice President and Chief Financial Officer on May 20, 2024. He brings over 25 years of financial and operational expertise to the role. Before joining Nordson, Mr. Hopgood held various roles of increasing responsibility at Eaton Corporation, a multinational power management company, most recently serving as its Controller and Chief Accounting Officer. Prior to Eaton, he was the Vice President, Aftermarket Americas for Meritor, Inc.
Jennifer McDonough
Executive Vice President, General Counsel, and Secretary
Jennifer McDonough serves as Executive Vice President, General Counsel, and Secretary at Nordson, where she oversees the company's legal, governance, compliance, and sustainability functions globally. Before joining Nordson in 2021, she was vice president, deputy general counsel, and assistant secretary for PPL Corporation, a Fortune 500 utility, where she managed corporate legal services and legal operations, including mergers and acquisitions, strategic development, securities, finance, governance, and litigation.
Sarah Siddiqui
Executive Vice President, Chief Human Resources Officer
Sarah Siddiqui is the Executive Vice President and Chief Human Resources Officer at Nordson Corporation, responsible for the company's worldwide HR operations. Ms. Siddiqui brings over 20 years of global strategic HR experience, having worked across aerospace, financial services, and pharmaceutical industries, including roles at United Technologies/Raytheon Technologies and Citigroup. Her most recent prior role was vice president of HR for operations, engineering, and corporate functions within Collins Aerospace at Raytheon Technologies.
Jeffrey Pembroke
Executive Vice President
Jeffrey Pembroke serves as an Executive Vice President of Nordson Corporation.
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Key Risks to Nordson Corporation (NDSN)
Nordson Corporation faces several key risks inherent to its business model and global operations. These include the cyclical nature of its served end-markets, exposure to foreign exchange rate fluctuations, and intense competition demanding continuous innovation.
- Dependence on Cyclical End Markets and Global Economic Conditions: A significant portion of Nordson's business is tied to industries that are cyclical, such as electronics, semiconductors, automotive, and polymer processing. Fluctuations in the economic health of these sectors can lead to varying demand for Nordson's dispensing, application, and control systems, directly impacting its revenue growth and profitability. For example, the electronics/semiconductor product lines, which represent about 25% of revenue, experienced strong growth in 2022 but weaker demand in 2023.
- Exposure to Foreign Exchange Rate Fluctuations: With approximately 60% to 67% of Nordson's revenue generated from international sales, the company is significantly exposed to the risks of adverse currency movements. A strengthening U.S. dollar can necessitate price increases or result in contracted profit margins for sales outside the United States, thereby negatively affecting reported financial results.
- Intense Competition and the Need for Continuous Innovation: Nordson operates in a highly competitive global marketplace with numerous established manufacturers. To maintain its market position and avoid pricing pressures and margin erosion, the company must continually innovate, invest in research and development, and deliver superior product quality and service. The emergence of new technologies, such as AI, and aggressive new market entrants further intensify this competitive landscape, requiring swift adaptation and sustained investment.
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Nordson Corporation operates in several addressable markets globally through its Industrial Precision Solutions (IPS) and Advanced Technology Solutions (ATS) segments.
Industrial Precision Solutions (IPS) Segment
- Adhesive and Fluid Dispensing Systems: The global adhesive dispensing equipment market was valued at US$39.5 billion in 2026 and is expected to reach US$56.7 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.3%. More broadly, the global industrial dispensing system and equipment market was valued at US$17.39 billion in 2025 and is projected to grow to US$24.79 billion by 2030, with a CAGR of 7.5%. North America is identified as the largest market for industrial dispensing system equipment, holding approximately 40% of the global market share.
- Industrial Coatings (Liquid, Powder, and UV Curing Systems): The global industrial coatings market size was estimated at US$215.5 billion in 2024 and is projected to expand to US$345.8 billion by 2034, with a CAGR of 4.9%.
- For powder coating equipment, the global market size is estimated to be US$3,201.2 million in 2024 and is expected to reach US$5,264.3 million by 2034, growing at a CAGR of 5.1%.
- The global UV curing system market was valued at approximately US$5.97 billion in 2024 and is projected to reach US$32.59 billion by 2034, growing at a CAGR of about 18.50%.
Advanced Technology Solutions (ATS) Segment
- Medical/Healthcare Dispensing and Interventional Delivery Devices: The global healthcare dispensing systems market is projected to reach US$6.27 billion by 2030, from US$4.61 billion in 2025, at a CAGR of 6.3%. The global interventional medical devices market size was US$21.5 billion in 2023 and is projected to grow to US$38.7 billion by 2032, exhibiting a CAGR of 6.5%. Specifically, the global interventional cardiology devices market size reached US$24.5 billion in 2024 and is expected to reach US$43.2 billion by 2033, exhibiting a CAGR of 6.53%.
- Semiconductor and Printed Circuit Board (PCB) Inspection Systems: The global semiconductor metrology and inspection equipment market size was estimated at US$8.98 billion in 2024 and is projected to reach US$16.21 billion by 2033, growing at a CAGR of 6.9% from 2025 to 2033. For the Printed Circuit Board (PCB) inspection equipment market, the global market was valued at US$8.69 billion in 2023 and is projected to reach US$19.3 billion by 2032, exhibiting a CAGR of 9.26%.
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Nordson Corporation (NDSN) is anticipated to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Growth in Advanced Technology Solutions (ATS) Segment, Particularly in the Semiconductor End Market: Nordson expects continued momentum and strength in its Advanced Technology Solutions (ATS) segment, largely propelled by demand in the semiconductor industry. The ATS segment demonstrated over 20% growth in the first quarter of fiscal year 2026, driven by semiconductor market activity. Management highlighted the semiconductor space as an important growth driver.
- Strategic Acquisitions: Nordson plans to continue strengthening its portfolio through strategic capital deployment and the acquisition of attractive assets. The successful integration of past acquisitions, such as Atrion Medical, has contributed positively to sales and earnings growth.
- Organic Growth Initiatives and Innovation: The company is focused on driving organic growth through innovation, operational excellence, and consistently meeting customer needs. Nordson invested $18 million in capital projects during Q1 2026 to support future organic growth. This includes broad-based organic growth across its segments and particular strength observed in Asia Pacific markets for the Industrial Precision Solutions (IPS) segment.
- Recovery and Improvements in Broader Industrial and Medical End Markets: While some segments like Medical and Fluid Solutions experienced flat organic growth in Q1 2026, Nordson's management remains optimistic about overall end market demand trends. They anticipate modest improvement in industrial and automotive product lines, contributing to growth. The company's diverse portfolio across industrial and medical segments positions it to capitalize on favorable market conditions.
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Share Repurchases
- Nordson's Board of Directors authorized an additional $500 million for its share repurchase program on September 6, 2022, supplementing the $160 million remaining from a 2018 authorization.
- A five-year analysis ending in Q4 CY2025 shows the company repurchased stock, resulting in a 4.5% reduction in its share count.
- Between August 1, 2025, and October 31, 2025, Nordson repurchased 389,000 shares for $87.45 million, completing a total repurchase of 10,311,046 shares for $1,290.05 million under a program initiated in December 2014.
Share Issuance
- For the nine months ending July 31, 2025, Nordson issued $5.419 million in common shares, compared to $29.142 million for the same period in 2024.
- Common shares issued for the fiscal year ending October 31, 2025, totaled $9.014 million.
Outbound Investments
- Nordson acquired CyberOptics Corporation on November 3, 2022, expanding its presence in the semiconductor and electronics industries.
- The company completed the acquisition of Atrion in August 2024, for a price of $800 million.
- Other acquisitions within the period include Aragnet in June 2023 and NDC Technologies in August 2021.
Capital Expenditures
- Capital expenditures were $38 million in 2021, $51 million in 2022, $34 million in 2023, $64 million in 2024, and $58 million in 2025.
- For the first nine months of fiscal 2024, capital invested in property, plant, and equipment increased by 81% year-over-year to $43.8 million.
- Additions to property, plant, and equipment for the nine months ending July 31, 2025, were $49.002 million, primarily driven by productivity and growth projects, including a new manufacturing facility.
Latest Trefis Analyses
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 03312026 | NSP | Insperity | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03312026 | TNC | Tennant | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
| 03272026 | ADP | Automatic Data Processing | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 1.0% | 1.0% | 0.0% |
| 03272026 | HURN | Huron Consulting | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.0% | 4.0% | 0.0% |
| 03272026 | TRU | TransUnion | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.2% | 5.2% | 0.0% |
| 12312024 | NDSN | Nordson | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 6.6% | 17.0% | -19.3% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 245.66 |
| Mkt Cap | 22.8 |
| Rev LTM | 5,775 |
| Op Inc LTM | 1,062 |
| FCF LTM | 880 |
| FCF 3Y Avg | 782 |
| CFO LTM | 1,017 |
| CFO 3Y Avg | 914 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.1% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 8.3% |
| Op Inc Chg 3Y Avg | 2.9% |
| Op Mgn LTM | 23.6% |
| Op Mgn 3Y Avg | 23.6% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 19.6% |
| CFO/Rev 3Y Avg | 20.7% |
| FCF/Rev LTM | 17.4% |
| FCF/Rev 3Y Avg | 18.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 22.8 |
| P/S | 5.2 |
| P/Op Inc | 21.6 |
| P/EBIT | 21.6 |
| P/E | 28.8 |
| P/CFO | 22.6 |
| Total Yield | 4.6% |
| Dividend Yield | 1.2% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.3% |
| 3M Rtn | 4.3% |
| 6M Rtn | 22.9% |
| 12M Rtn | 32.5% |
| 3Y Rtn | 31.3% |
| 1M Excs Rtn | -2.3% |
| 3M Excs Rtn | 2.1% |
| 6M Excs Rtn | 17.7% |
| 12M Excs Rtn | -1.7% |
| 3Y Excs Rtn | -42.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Industrial Precision Solutions | 1,399 | 1,391 | 1,337 | 1,247 | 1,143 |
| Medical and Fluid Solutions | 695 | 660 | 690 | 642 | |
| Advanced Technology Solutions | 596 | 577 | 563 | 474 | 978 |
| Corporate | 0 | 0 | |||
| Total | 2,690 | 2,629 | 2,590 | 2,362 | 2,121 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Industrial Precision Solutions | 498 | 461 | 434 | 414 | 208 |
| Medical and Fluid Solutions | 234 | 189 | 217 | 198 | |
| Advanced Technology Solutions | 123 | 102 | 133 | 73 | 192 |
| Divestiture and related charges | 0 | ||||
| Inventory step-up amortization | -8 | ||||
| Acquisition related costs | -14 | ||||
| Severance and other | -17 | ||||
| Corporate expenses | -57 | ||||
| Depreciation and amortization | -85 | ||||
| Corporate | -79 | -83 | -71 | -50 | |
| Total | 674 | 673 | 702 | 615 | 350 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Medical and Fluid Solutions | 2,252 | 1,544 | 1,559 | 1,519 | |
| Industrial Precision Solutions | 1,699 | 1,933 | 1,113 | 965 | 883 |
| Corporate | 1,186 | 1,105 | 813 | 968 | 948 |
| Advanced Technology Solutions | 864 | 730 | 397 | 395 | 1,849 |
| Eliminations | -61 | -62 | -55 | -48 | |
| Customer advance payments | 42 | ||||
| Total | 6,001 | 5,252 | 3,820 | 3,791 | 3,675 |
Price Behavior
Price Behavior
| Market Price | $281.89 | |
| Market Cap ($ Bil) | 15.7 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -5.5% | |
| 50 Days | 200 Days | |
| DMA Price | $278.22 | $243.67 |
| DMA Trend | up | up |
| Distance from DMA | 1.3% | 15.7% |
| 3M | 1YR | |
| Volatility | 22.8% | 22.4% |
| Downside Capture | 0.17 | 0.36 |
| Upside Capture | 83.51 | 109.89 |
| Correlation (SPY) | 50.6% | 57.2% |
NDSN Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.16 | 0.88 | 1.05 | 0.84 | 1.08 | 0.99 |
| Up Beta | 0.94 | 1.01 | 1.20 | 0.95 | 1.17 | 1.18 |
| Down Beta | 1.44 | 1.28 | 1.33 | 0.95 | 1.05 | 0.89 |
| Up Capture | 74% | 78% | 134% | 103% | 114% | 66% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 21 | 38 | 73 | 138 | 379 |
| Down Capture | 123% | 68% | 55% | 60% | 95% | 98% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 21 | 25 | 53 | 114 | 371 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NDSN | |
|---|---|---|---|---|
| NDSN | 56.4% | 22.4% | 1.91 | - |
| Sector ETF (XLI) | 39.0% | 15.4% | 1.93 | 68.4% |
| Equity (SPY) | 21.1% | 12.9% | 1.32 | 59.5% |
| Gold (GLD) | 50.9% | 27.5% | 1.49 | 0.6% |
| Commodities (DBC) | 25.2% | 16.2% | 1.40 | -4.5% |
| Real Estate (VNQ) | 17.5% | 13.7% | 0.93 | 54.7% |
| Bitcoin (BTCUSD) | -7.8% | 42.6% | -0.08 | 26.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NDSN | |
|---|---|---|---|---|
| NDSN | 8.0% | 24.8% | 0.29 | - |
| Sector ETF (XLI) | 13.1% | 17.3% | 0.60 | 73.3% |
| Equity (SPY) | 10.8% | 17.1% | 0.49 | 66.8% |
| Gold (GLD) | 22.6% | 17.8% | 1.04 | 8.4% |
| Commodities (DBC) | 11.6% | 18.8% | 0.51 | 13.8% |
| Real Estate (VNQ) | 4.4% | 18.8% | 0.14 | 58.7% |
| Bitcoin (BTCUSD) | 5.2% | 56.5% | 0.31 | 22.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NDSN | |
|---|---|---|---|---|
| NDSN | 15.4% | 28.8% | 0.55 | - |
| Sector ETF (XLI) | 14.2% | 19.9% | 0.63 | 72.4% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 68.9% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 2.7% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 22.7% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.24 | 56.7% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 15.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/18/2026 | -1.8% | -2.8% | -10.4% |
| 12/10/2025 | -0.8% | 1.1% | 11.4% |
| 8/20/2025 | 3.0% | 5.7% | 5.8% |
| 5/28/2025 | 6.8% | 8.9% | 10.3% |
| 2/19/2025 | 0.3% | -3.1% | -5.2% |
| 12/11/2024 | -8.2% | -14.7% | -16.6% |
| 8/21/2024 | 3.3% | 3.8% | 3.5% |
| 5/20/2024 | -9.4% | -13.0% | -13.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 11 |
| # Negative | 8 | 8 | 10 |
| Median Positive | 2.5% | 4.8% | 5.8% |
| Median Negative | -5.2% | -4.3% | -6.0% |
| Max Positive | 7.1% | 9.5% | 11.4% |
| Max Negative | -9.4% | -14.7% | -16.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 01/31/2026 | 02/19/2026 | 10-Q |
| 10/31/2025 | 12/17/2025 | 10-K |
| 07/31/2025 | 08/21/2025 | 10-Q |
| 04/30/2025 | 05/29/2025 | 10-Q |
| 01/31/2025 | 02/20/2025 | 10-Q |
| 10/31/2024 | 12/18/2024 | 10-K |
| 07/31/2024 | 08/22/2024 | 10-Q |
| 04/30/2024 | 05/23/2024 | 10-Q |
| 01/31/2024 | 02/22/2024 | 10-Q |
| 10/31/2023 | 12/20/2023 | 10-K |
| 07/31/2023 | 08/24/2023 | 10-Q |
| 04/30/2023 | 05/25/2023 | 10-Q |
| 01/31/2023 | 02/23/2023 | 10-Q |
| 10/31/2022 | 12/19/2022 | 10-K |
| 07/31/2022 | 08/26/2022 | 10-Q |
| 04/30/2022 | 05/27/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 2/18/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 710.00 Mil | 725.00 Mil | 740.00 Mil | ||||
| Q2 2026 EPS | 2.7 | 2.8 | 2.9 | ||||
| 2026 Revenue | 2.86 Bil | 2.92 Bil | 2.98 Bil | 1.0% | Raised | Guidance: 2.89 Bil for 2026 | |
| 2026 EPS | 11 | 11.3 | 11.6 | 1.3% | Raised | Guidance: 11.2 for 2026 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Devries, James E | Executive Vice President | Direct | Sell | 11122025 | 233.60 | 9,100 | 2,125,760 | 11,965,693 | Form |
| 2 | Morris, Milton Mayo | Direct | Sell | 11032025 | 231.00 | 265 | 61,215 | 670,131 | Form | |
| 3 | Kelley, Joseph P | Executive Vice President | Direct | Sell | 10222025 | 240.00 | 2,200 | 528,000 | 1,537,200 | Form |
| 4 | Kelley, Joseph P | Executive Vice President | Direct | Sell | 10202025 | 232.39 | 2,300 | 534,497 | 1,999,716 | Form |
| 5 | Nagarajan, Sundaram | President and CEO | Direct | Sell | 2252026 | 293.26 | 41,800 | 12,258,268 | 19,010,286 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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