Nordson (NDSN)
Market Price (6/3/2026): $287.73 | Market Cap: $16.1 BilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Nordson (NDSN)
Market Price (6/3/2026): $287.73Market Cap: $16.1 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 27% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25% Low stock price volatilityVol 12M is 21% Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, and Circular Economy & Recycling. Themes include Factory Automation, Show more. | Trading close to highsDist 52W High is -3.6%, Dist 3Y High is -3.6% Weak multi-year price returns2Y Excs Rtn is -17%, 3Y Excs Rtn is -46% | 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 27% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25% |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Automation & Robotics, Advanced Materials, and Circular Economy & Recycling. Themes include Factory Automation, Show more. |
| Trading close to highsDist 52W High is -3.6%, Dist 3Y High is -3.6% |
| Weak multi-year price returns2Y Excs Rtn is -17%, 3Y Excs Rtn is -46% |
| 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
AI Analysis | Feedback
Updated on 6/1/2026
Nordson (NDSN) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Significant Insider Selling Post-Peak.
Nordson's President and CEO, Sundaram Nagarajan, sold 41,800 shares for approximately $12.24 million on February 24, 2026, shortly after the stock reached its 52-week high of $305.28 on February 19, 2026. This substantial insider sale likely contributed to negative sentiment and selling pressure, suggesting potential profit-taking or a perceived lack of further significant upside from an executive.
2. Profit-Taking Following Peak Valuation After Strong Q1 Earnings.
Despite Nordson reporting record first-quarter fiscal 2026 sales of $669 million and a 15% increase in adjusted earnings per share to $2.37 on February 18, 2026, the stock experienced a 1.8% decline the day after the earnings release. This market reaction, occurring when the stock was at or near its 52-week high, suggests that much of the positive news was already factored into the share price, leading investors to engage in profit-taking after a period of strong performance.
Show more
Nordson (NDSN) stock has remained largely at the same level since 2/28/2026 because of the following key factors:
1. Significant Insider Selling Post-Peak.
Nordson's President and CEO, Sundaram Nagarajan, sold 41,800 shares for approximately $12.24 million on February 24, 2026, shortly after the stock reached its 52-week high of $305.28 on February 19, 2026. This substantial insider sale likely contributed to negative sentiment and selling pressure, suggesting potential profit-taking or a perceived lack of further significant upside from an executive.
2. Profit-Taking Following Peak Valuation After Strong Q1 Earnings.
Despite Nordson reporting record first-quarter fiscal 2026 sales of $669 million and a 15% increase in adjusted earnings per share to $2.37 on February 18, 2026, the stock experienced a 1.8% decline the day after the earnings release. This market reaction, occurring when the stock was at or near its 52-week high, suggests that much of the positive news was already factored into the share price, leading investors to engage in profit-taking after a period of strong performance.
Show more
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -1.6% change in NDSN stock from 2/28/2026 to 6/2/2026 was primarily driven by a -2.5% change in the company's P/E Multiple.| (LTM values as of) | 2282026 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 292.54 | 287.73 | -1.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,846 | 2,904 | 2.0% |
| Net Income Margin (%) | 18.4% | 18.2% | -1.1% |
| P/E Multiple | 31.2 | 30.4 | -2.5% |
| Shares Outstanding (Mil) | 56 | 56 | 0.0% |
| Cumulative Contribution | -1.6% |
Market Drivers
2/28/2026 to 6/2/2026| Return | Correlation | |
|---|---|---|
| NDSN | -1.6% | |
| Market (SPY) | 11.0% | 67.1% |
| Sector (XLI) | -1.4% | 80.4% |
Fundamental Drivers
The 21.9% change in NDSN stock from 11/30/2025 to 6/2/2026 was primarily driven by a 11.3% change in the company's Net Income Margin (%).| (LTM values as of) | 11302025 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 236.11 | 287.73 | 21.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,784 | 2,904 | 4.3% |
| Net Income Margin (%) | 16.3% | 18.2% | 11.3% |
| P/E Multiple | 29.3 | 30.4 | 3.8% |
| Shares Outstanding (Mil) | 56 | 56 | 1.1% |
| Cumulative Contribution | 21.9% |
Market Drivers
11/30/2025 to 6/2/2026| Return | Correlation | |
|---|---|---|
| NDSN | 21.9% | |
| Market (SPY) | 11.8% | 56.5% |
| Sector (XLI) | 14.0% | 72.3% |
Fundamental Drivers
The 37.6% change in NDSN stock from 5/31/2025 to 6/2/2026 was primarily driven by a 14.3% change in the company's P/E Multiple.| (LTM values as of) | 5312025 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 209.07 | 287.73 | 37.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,704 | 2,904 | 7.4% |
| Net Income Margin (%) | 16.5% | 18.2% | 10.2% |
| P/E Multiple | 26.6 | 30.4 | 14.3% |
| Shares Outstanding (Mil) | 57 | 56 | 1.8% |
| Cumulative Contribution | 37.6% |
Market Drivers
5/31/2025 to 6/2/2026| Return | Correlation | |
|---|---|---|
| NDSN | 37.6% | |
| Market (SPY) | 30.4% | 54.3% |
| Sector (XLI) | 23.6% | 67.5% |
Fundamental Drivers
The 36.7% change in NDSN stock from 5/31/2023 to 6/2/2026 was primarily driven by a 30.1% change in the company's P/E Multiple.| (LTM values as of) | 5312023 | 6022026 | Change |
|---|---|---|---|
| Stock Price ($) | 210.42 | 287.73 | 36.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,606 | 2,904 | 11.4% |
| Net Income Margin (%) | 19.8% | 18.2% | -7.9% |
| P/E Multiple | 23.4 | 30.4 | 30.1% |
| Shares Outstanding (Mil) | 57 | 56 | 2.5% |
| Cumulative Contribution | 36.7% |
Market Drivers
5/31/2023 to 6/2/2026| Return | Correlation | |
|---|---|---|
| NDSN | 36.7% | |
| Market (SPY) | 88.9% | 63.1% |
| Sector (XLI) | 88.1% | 74.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NDSN Return | 28% | -6% | 12% | -20% | 17% | 17% | 49% |
| Peers Return | 24% | -11% | 25% | 12% | 6% | 2% | 65% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| NDSN Win Rate | 67% | 50% | 58% | 50% | 67% | 50% | |
| Peers Win Rate | 63% | 35% | 57% | 57% | 57% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 67% | |
Max Drawdowns [4] | |||||||
| NDSN Max Drawdown | -14% | -23% | -18% | -25% | -25% | -14% | |
| Peers Max Drawdown | -13% | -29% | -18% | -15% | -24% | -17% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[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 6/2/2026 (YTD)
How Low Can It Go
| Event | NDSN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.8% | -18.8% |
| % Gain to Breakeven | 29.5% | 23.1% |
| Time to Breakeven | 62 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.7% | -9.5% |
| % Gain to Breakeven | 15.9% | 10.5% |
| Time to Breakeven | 50 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.2% | -6.7% |
| % Gain to Breakeven | 19.3% | 7.1% |
| Time to Breakeven | 102 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.8% | -24.5% |
| % Gain to Breakeven | 27.9% | 32.4% |
| Time to Breakeven | 230 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.9% | -33.7% |
| % Gain to Breakeven | 72.0% | 50.9% |
| Time to Breakeven | 56 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.6% | -19.2% |
| % Gain to Breakeven | 25.9% | 23.8% |
| Time to Breakeven | 66 days | 105 days |
In The Past
Nordson's stock fell -22.8% during the 2025 US Tariff Shock. Such a loss loss requires a 29.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | NDSN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -22.8% | -18.8% |
| % Gain to Breakeven | 29.5% | 23.1% |
| Time to Breakeven | 62 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -21.8% | -24.5% |
| % Gain to Breakeven | 27.9% | 32.4% |
| Time to Breakeven | 230 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.9% | -33.7% |
| % Gain to Breakeven | 72.0% | 50.9% |
| Time to Breakeven | 56 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.6% | -19.2% |
| % Gain to Breakeven | 25.9% | 23.8% |
| Time to Breakeven | 66 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.2% | -12.2% |
| % Gain to Breakeven | 37.3% | 13.9% |
| Time to Breakeven | 43 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -32.7% | -6.8% |
| % Gain to Breakeven | 48.5% | 7.3% |
| Time to Breakeven | 98 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.3% | -17.9% |
| % Gain to Breakeven | 49.9% | 21.8% |
| Time to Breakeven | 150 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -27.6% | -15.4% |
| % Gain to Breakeven | 38.2% | 18.2% |
| Time to Breakeven | 105 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -65.7% | -53.4% |
| % Gain to Breakeven | 191.9% | 114.4% |
| Time to Breakeven | 287 days | 1085 days |
In The Past
Nordson's stock fell -22.8% during the 2025 US Tariff Shock. Such a loss loss requires a 29.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
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.
AI Analysis | Feedback
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.
AI Analysis | Feedback
- 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.
AI Analysis | Feedback
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.
AI Analysis | Feedback
nullAI Analysis | Feedback
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.
AI Analysis | Feedback
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.
AI Analysis | Feedback
nullAI Analysis | Feedback
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%.
AI Analysis | Feedback
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.
AI Analysis | Feedback
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
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 230.36 |
| Mkt Cap | 22.3 |
| Rev LTM | 5,905 |
| Op Inc LTM | 1,081 |
| FCF LTM | 925 |
| FCF 3Y Avg | 766 |
| CFO LTM | 1,065 |
| CFO 3Y Avg | 898 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.7% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | 9.3% |
| Op Inc Chg 3Y Avg | 3.0% |
| Op Mgn LTM | 23.7% |
| Op Mgn 3Y Avg | 23.5% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 19.5% |
| CFO/Rev 3Y Avg | 20.3% |
| FCF/Rev LTM | 17.4% |
| FCF/Rev 3Y Avg | 17.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 22.3 |
| P/S | 4.7 |
| P/Op Inc | 20.7 |
| P/EBIT | 20.5 |
| P/E | 28.1 |
| P/CFO | 21.9 |
| Total Yield | 4.7% |
| Dividend Yield | 1.2% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.8% |
| 3M Rtn | -8.2% |
| 6M Rtn | 7.4% |
| 12M Rtn | 20.9% |
| 3Y Rtn | 23.5% |
| 1M Excs Rtn | -9.1% |
| 3M Excs Rtn | -19.8% |
| 6M Excs Rtn | -3.2% |
| 12M Excs Rtn | -9.0% |
| 3Y Excs Rtn | -54.9% |
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 | $287.73 | |
| Market Cap ($ Bil) | 16.1 | |
| First Trading Date | 03/26/1990 | |
| Distance from 52W High | -3.6% | |
| 50 Days | 200 Days | |
| DMA Price | $277.95 | $254.19 |
| DMA Trend | up | indeterminate |
| Distance from DMA | 3.5% | 13.2% |
| 3M | 1YR | |
| Volatility | 23.6% | 20.7% |
| Downside Capture | 122.09 | 80.22 |
| Upside Capture | 72.90 | 93.25 |
| Correlation (SPY) | 68.0% | 54.7% |
NDSN Betas & Captures as of 5/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.16 | 0.99 | 1.12 | 0.96 | 0.95 | 0.99 |
| Up Beta | 0.79 | 1.19 | 1.30 | 1.21 | 1.20 | 1.19 |
| Down Beta | 2.12 | 1.65 | 1.42 | 1.09 | 0.93 | 0.91 |
| Up Capture | 58% | 60% | 69% | 94% | 90% | 63% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 8 | 21 | 30 | 71 | 139 | 381 |
| Down Capture | 178% | 100% | 122% | 69% | 85% | 98% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 12 | 20 | 33 | 53 | 111 | 369 |
[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 | 37.8% | 20.7% | 1.44 | - |
| Sector ETF (XLI) | 23.7% | 15.4% | 1.18 | 67.5% |
| Equity (SPY) | 30.5% | 11.8% | 1.95 | 54.2% |
| Gold (GLD) | 35.9% | 26.7% | 1.12 | 14.4% |
| Commodities (DBC) | 44.5% | 18.9% | 1.81 | -22.0% |
| Real Estate (VNQ) | 10.1% | 13.2% | 0.47 | 55.9% |
| Bitcoin (BTCUSD) | -32.2% | 41.6% | -0.82 | 28.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NDSN | |
|---|---|---|---|---|
| NDSN | 7.0% | 24.7% | 0.25 | - |
| Sector ETF (XLI) | 12.7% | 17.4% | 0.57 | 73.8% |
| Equity (SPY) | 14.2% | 17.0% | 0.66 | 67.3% |
| Gold (GLD) | 18.3% | 18.0% | 0.83 | 8.9% |
| Commodities (DBC) | 10.4% | 19.4% | 0.42 | 10.0% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 59.3% |
| Bitcoin (BTCUSD) | 13.0% | 54.6% | 0.43 | 22.8% |
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% | 20.0% | 0.63 | 72.3% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 68.7% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 3.3% |
| Commodities (DBC) | 7.5% | 17.9% | 0.34 | 20.4% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 56.9% |
| Bitcoin (BTCUSD) | 66.0% | 66.9% | 1.05 | 15.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/20/2026 | 3.8% | 4.3% | |
| 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% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 14 | 12 |
| # Negative | 10 | 10 | 11 |
| Median Positive | 2.8% | 4.7% | 5.1% |
| Median Negative | -5.2% | -4.7% | -7.1% |
| Max Positive | 7.1% | 9.5% | 11.4% |
| Max Negative | -13.9% | -14.7% | -16.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 05/21/2026 | 10-Q |
| 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 |
Recent Forward Guidance
Updated 5/21/2026Latest: Q2 2026 Earnings Reported 5/20/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 760.00 Mil | 775.00 Mil | 790.00 Mil | 6.9% | Higher New | Guidance: 725.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted EPS | 2.95 | 3.05 | 3.15 | 8.9% | Higher New | Guidance: 2.8 for Q2 2026 | |
| 2026 Revenue | 2.93 Bil | 2.97 Bil | 3.01 Bil | 1.7% | Raised | Guidance: 2.92 Bil for 2026 | |
| 2026 Adjusted EPS | 11.3 | 11.6 | 11.8 | 2.2% | Raised | Guidance: 11.3 for 2026 | |
Prior: 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
Updated 6/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Subramanian, Srinivas | Executive Vice President | Direct | Sell | 4202026 | 280.00 | 3,100 | 868,000 | 1,793,960 | Form |
| 2 | Morris, Milton Mayo | Direct | Sell | 4162026 | 273.87 | 245 | 67,098 | 727,399 | Form | |
| 3 | Hall, Justin E | EVP | Direct | Sell | 4092026 | 275.82 | 716 | 197,487 | 417,867 | Form |
| 4 | Nagarajan, Sundaram | President and CEO | Direct | Sell | 2252026 | 293.26 | 41,800 | 12,258,268 | 19,010,286 | Form |
| 5 | Kelley, Joseph P | Executive Vice President | Direct | Sell | 2252026 | 293.04 | 8,725 | 2,556,788 | 2,129,827 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Industrial Machinery & Supplies & Components Resources |
| Machine Design |
| Modern Machine Shop |
| Industrial Equipment News (IEN) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 6/2/2026