Nordson Corporation
- Open
- 316.63
- Day high
- 317.40
- Day low
- 311.90
- Prev close
- 316.63
- Volume
- 44K
- Mkt cap
- $17.5B
- P/E (TTM)
- 31.6
- EPS (TTM)
- $10.01
- P/B
- 5.3
- P/S
- 5.9
- Yield
- 1.05%
- Per share
- $3.28
- ▼Insiders net selling -$532K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Nordson Corporation (NDSN) is a Industrials company listed on NASDAQ. The stock is up 44% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering NDSN.
Nordson Corporation (NDSN) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NDSN earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 20, 2026 | $3.09 | $3.25 | +5.2% | $818M | +4.8% |
| May 21, 2026 | $2.82 | $2.86 | +1.5% | $741M | +1.7% |
| Feb 18, 2026 | $2.36 | $2.37 | +0.6% | $669M | -7.4% |
| Dec 10, 2025 | $2.93 | $3.03 | +3.4% | $752M | -1.3% |
| Aug 20, 2025 | $2.64 | $2.73 | +3.5% | $742M | +2.8% |
| May 28, 2025 | $2.36 | $2.42 | +2.5% | $683M | +1.8% |
| Feb 19, 2025 | $2.10 | $2.06 | -1.7% | $615M | -3.8% |
| Dec 11, 2024 | $2.59 | $2.78 | +7.3% | $744M | +1.0% |
| Aug 21, 2024 | $2.33 | $2.41 | +3.3% | $662M | +0.6% |
| May 20, 2024 | $2.32 | $2.34 | +0.9% | $651M | -1.6% |
| Feb 21, 2024 | $2.04 | $2.21 | +8.5% | $633M | +0.5% |
| Dec 13, 2023 | $2.39 | $2.46 | +2.8% | $719M | +10.1% |
NDSN insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 2, 2026 | Hall Justin Eofficer: EVP | Tax | 118 | $314.40 |
| Aug 28, 2026 | MCDONOUGH JENNIFER Lofficer: EVP, GC, and Secretary | Sell | 260 | $336.00 |
| Aug 27, 2026 | Hopgood Daniel Royofficer: EVP, CFO | Option | 1,329 | $209.73 |
| Aug 27, 2026 | Hopgood Daniel Royofficer: EVP, CFO | Sell | 1,329 | $334.29 |
| Aug 3, 2026 | Rutledge Joseph Mofficer: VP, CAO | Tax | 274 | $297.78 |
| Aug 3, 2026 | MAPES CHRISTOPHER Ldirector | Grant | 42 | $297.78 |
| Aug 3, 2026 | DeFord John Adirector | Grant | 84 | $297.78 |
| Jun 2, 2026 | Hopgood Daniel Royofficer: EVP, CFO | Tax | 148 | $281.31 |
| May 8, 2026 | CLAYTON ANNETTE Kdirector | Grant | 270 | $283.20 |
| May 4, 2026 | DeFord John Adirector | Grant | 87 | $288.45 |
| May 4, 2026 | MAPES CHRISTOPHER Ldirector | Grant | 43 | $288.45 |
| Apr 20, 2026 | DeVries James Eofficer: Executive Vice President | Tax | 71 | $275.28 |
| Apr 20, 2026 | Subramanian Srinivasofficer: Executive Vice President | Option | 1,900 | $107.65 |
| Apr 20, 2026 | Subramanian Srinivasofficer: Executive Vice President | Sell | 1,200 | $280.00 |
| Apr 20, 2026 | DeVries James Eofficer: Executive Vice President | Tax | 127 | $275.28 |
Source: NDSN SEC Form 4 filings, latest Sep 2, 2026. For informational purposes only — not investment advice.
See the full NDSN insider & 13F page →Nordson Corporation company profile
Overview
Nordson Corporation (NASDAQ:NDSN) is an Ohio-based industrial technology company founded in 1935 that has evolved into a global leader in precision dispensing and application systems. Originally established as a small manufacturer, the company has grown through strategic acquisitions and organic expansion to become a diversified industrial solutions provider serving multiple end markets including automotive, electronics, medical devices, packaging, and agriculture. Today, Nordson operates as a multinational corporation with manufacturing facilities and sales operations worldwide, focusing on engineered systems that precisely dispense, apply, and control various fluids and materials in manufacturing processes.
Business
Nordson Corporation operates in the industrial machinery sector, specializing in precision fluid dispensing and application systems. The company designs, manufactures, and markets sophisticated equipment that controls the precise application of adhesives, coatings, sealants, polymers, and other fluids in manufacturing processes across diverse industries. The company's technology addresses a fundamental manufacturing challenge: how to apply exactly the right amount of material, in precisely the right location, at optimal speed and consistency. This precision is critical in modern manufacturing where material waste, product quality, and production efficiency directly impact profitability. For example, in automotive manufacturing, Nordson's systems ensure that adhesives are applied with exact precision to bond car parts, while in electronics manufacturing, their equipment applies protective coatings to circuit boards with microscopic accuracy. Nordson operates through three primary business segments: 1. Industrial Precision Solutions (IPS) - Approximately 50-55% of total revenue. This segment provides dispensing systems for packaging applications, automotive assembly, wood products, and industrial coating systems. Products include automated adhesive dispensing systems used in consumer goods packaging, thermoplastic melt systems for manufacturing processes, and powder coating equipment for metal finishing operations. 2. Medical and Fluid Solutions (MFS) - Approximately 25-30% of total revenue. This segment serves the medical device and life sciences industries with precision dispensing systems for medical device assembly, minimally invasive surgical devices, fluid management components, and biopharma manufacturing equipment. The recent acquisition of Atrion Medical significantly expanded this segment's capabilities in cardiac surgery and interventional medical devices. 3. Advanced Technology Solutions (ATS) - Approximately 15-20% of total revenue. This segment focuses on semiconductor and electronics manufacturing, providing dispensing systems for chip packaging, test and inspection equipment for quality control, and surface treatment systems. These systems are essential for manufacturing modern electronics, from smartphones to advanced semiconductors.
Revenue model
Nordson generates revenue through multiple complementary business models that create recurring income streams and strong customer relationships. The company primarily makes money through equipment sales and aftermarket services, with over 50% of total revenue coming from recurring sources including replacement parts, consumables, and service contracts. The equipment sales model involves selling complex, engineered-to-order systems that often require customization for specific customer applications. These systems typically represent significant capital investments for customers, ranging from thousands to millions of dollars depending on complexity and scale. Customers include major manufacturers in automotive (Ford, General Motors), electronics (Apple suppliers, semiconductor fabs), medical devices (Medtronic, Boston Scientific), and consumer goods (Procter & Gamble, Unilever). The aftermarket business model provides highly profitable recurring revenue through replacement parts, consumables (adhesives, coatings), system upgrades, and maintenance services. This creates a "razor and blade" dynamic where initial equipment sales generate ongoing revenue streams throughout the equipment's 10-20 year lifecycle. Service contracts and technical support provide additional recurring revenue while strengthening customer relationships. Several factors influence Nordson's profitability margins. Positive margin drivers include the company's technological leadership in precision dispensing, which commands premium pricing; the high switching costs associated with their specialized equipment; strong recurring aftermarket revenue with gross margins typically above 60%; and operational leverage from their global manufacturing footprint. Margin pressures come from commodity material cost inflation affecting manufacturing; competitive pricing pressure in mature markets; cyclical downturns in key end markets like semiconductors and automotive; and the need for continuous R&D investment to maintain technological leadership. The company's diversified end-market exposure helps mitigate cyclical risks, while their focus on mission-critical applications in manufacturing processes provides some pricing power even during economic downturns.
Competitive moat
Nordson possesses a moderate to strong competitive moat built on several key advantages, though the strength varies across business segments. The company's primary moat stems from high customer switching costs and specialized technical expertise that creates significant barriers to competition. The most significant moat element is high switching costs once customers integrate Nordson's systems into their manufacturing processes. These systems become deeply embedded in production lines, requiring extensive reconfiguration, retraining, and validation to replace. In regulated industries like medical devices and automotive, changing suppliers often requires lengthy and expensive requalification processes. Additionally, the precision nature of these applications means that switching risks production disruptions and quality issues, making customers reluctant to change suppliers. Technical expertise and application knowledge represent another strong moat component. Nordson's engineers work closely with customers to solve complex dispensing challenges, developing deep understanding of specific applications and manufacturing processes. This consultative approach creates strong customer relationships and makes Nordson a trusted partner rather than just an equipment supplier. The company's 85+ years of experience and extensive patent portfolio further reinforce this technical moat. The aftermarket business model strengthens the moat by creating ongoing revenue streams and customer lock-in through proprietary parts and consumables. Once customers invest in Nordson equipment, they typically source replacement parts and consumables from Nordson throughout the equipment lifecycle. However, the moat faces several challenges. In commodity applications, customers may prioritize price over precision, opening opportunities for lower-cost competitors, particularly from Asia. The cyclical nature of key end markets like semiconductors and automotive can pressure margins during downturns. Additionally, some large customers have sufficient scale to develop in-house capabilities or negotiate aggressively with multiple suppliers. The medical and advanced technology segments generally have stronger moats due to higher precision requirements and regulatory barriers, while the industrial segment faces more competitive pressure in standardized applications.
Risks & safety
Nordson demonstrates a moderate margin of safety with solid financial fundamentals but elevated valuation metrics that suggest limited downside protection. **Liquidity and Solvency:** - Strong current ratio of 2.53x provides adequate short-term liquidity - Cash position of $130 million with additional credit facilities available - Debt-to-equity ratio of 0.80x is manageable but elevated following recent acquisitions - Free cash flow of $138 million in Q1 2025 demonstrates strong cash generation - No immediate solvency concerns given profitable operations and cash flow generation **Valuation Metrics:** - P/E ratio of 33.2x appears elevated relative to industrial machinery peers - EV/EBITDA of 20.4x suggests premium valuation - Price-to-book ratio of 4.37x indicates market expects continued strong returns - Graham number of $43.33 significantly below current price of $218.45, suggesting overvaluation by traditional value metrics **Other Considerations:** - Cyclical nature of key end markets creates earnings volatility risk - High acquisition activity increases integration execution risk - Strong recurring revenue base (50%+) provides some earnings stability - Diversified end-market exposure reduces concentration risk
Recent development
Over the past few years, Nordson has executed a comprehensive transformation strategy focused on portfolio optimization, strategic acquisitions, and operational excellence. The company launched its "Ascend" strategy targeting $3 billion in sales by 2025 with greater than 30% EBITDA margins, aiming for 50% growth from organic sources and 50% from acquisitions. The most significant development has been aggressive acquisition activity to expand market reach and capabilities. Key acquisitions include Atrion Medical, which expanded the medical segment's addressable market by 50% and added cardiac surgery capabilities; CyberOptics, which enhanced test and inspection capabilities in electronics; and ARAG, which brought precision agriculture technology and expanded European market presence. These acquisitions have successfully diversified the revenue base and added higher-margin, recurring revenue streams. Nordson has also implemented the "NBS Next" growth framework across all operations, focusing on operational efficiency, innovation acceleration, and market expansion. This initiative has driven margin improvements and streamlined operations while maintaining investment in R&D and new product development. The company has strategically repositioned its Advanced Technology Solutions segment to focus on higher-value applications in semiconductor packaging and test equipment, moving away from commodity electronics applications. Recent product launches include the SpinSAM Acoustic Inspection system and various medical device innovations that have received industry recognition from major customers like TSMC and Jabil. Portfolio optimization efforts have included divesting non-core assets while strengthening positions in high-growth markets like medical devices and advanced electronics. The company has maintained disciplined capital allocation, balancing growth investments with shareholder returns through dividends and share repurchases, returning over $100 million to shareholders in recent quarters while funding strategic acquisitions.
NDSN company profile · for informational purposes only — not investment advice.
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