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Nordson

NDSN Nasdaq Industrial Machinery & Supplies & Components Financials FY2016–FY2025

Nordson's revenue rose 3.8% to $2.8 billion in fiscal 2025. Its operating margin was 25.5%, up from 25.1% a year earlier. Free cash flow was $661 million, up 34.4%. It paid out $485 million in dividends and buybacks, 73% of free cash flow. The diluted share count fell 1.2%.

Last close · Oct 23, 2026

$318.84

0.0%
Value it Compare
Revenue Total sales reported in the income statement.
$2.8B
3.8% vs prior year
Operating margin Operating income as a share of revenue.
25.5%
0.4 pts
Net income Profit after all expenses, interest and tax.
$485M
3.7%
Free cash flow Cash from operations minus capital spending.
$661M
34.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
11.6%
0.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$17.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
32.3x
On $9.88 EPS (TTM)

What Nordson does

No business description yet.

Legal name
NORDSON CORPORATION
Fiscal year ends
October 31, 2025
Latest annual report
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Accession · CIK
0000072331-25-000144
0000072331

Revenue and margins

Nordson had $2.8B of revenue in fiscal 2025, up 3.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 6.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $661M in fiscal 2025, 23.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Nordson returned $485M to shareholders in fiscal 2025, 73% of free cash flow. The diluted share count fell 1.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Nordson yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.9B and divides by 56.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 32.3x · peers 25.1x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably Nordson can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $300M$164M$116M$116M$108M
Debt incl. finance leases $833M$754M$1.7B$2.2B$2.0B
Net debt / EBITDA 0.7x0.7x2.2x2.8x2.4x
Debt / equity 0.4x0.3x0.7x0.8x0.7x
Interest coverage 24.1x31.3x11.3x7.6x6.8x
Current ratio 2.6x1.4x2.1x2.4x1.6x
Quick ratio 1.9x0.9x1.3x1.5x1.1x
Total assets $3.8B$3.8B$5.3B$6.0B$5.9B
Total liabilities $1.6B$1.5B$2.7B$3.1B$2.9B
Shareholders' equity $2.2B$2.3B$2.6B$2.9B$3.0B
Net debt (− = net cash) $533M$590M$1.6B$2.1B$1.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$25.6M

9 insiders

Of sales under plans

12%

$3.0M

DateInsiderTradeSharesPriceValueFiling
Oct 14, 2026 Milton Mayo MorrisDirector Sold 255 $327.20 $0.1M Form 4
Sep 15, 2026 Joseph M RutledgeVP, CAO Sold 684 $309.38 $0.2M Form 4
Sep 2, 2026 Milton Mayo MorrisDirector Sold 156 $316.63 $0.0M Form 4
Aug 27, 2026 Jennifer L McDonoughEVP, GC, and Secretary Sold 260 $336.00 $0.1M Form 4
Aug 26, 2026 Daniel Roy HopgoodEVP, CFO Sold 1,329 $334.29 $0.4M Form 4
Apr 17, 2026 Srinivas SubramanianExecutive Vice President Sold plan 3,100 $280.00 $0.9M Form 4
Apr 15, 2026 Milton Mayo MorrisDirector Sold 245 $273.87 $0.1M Form 4
Apr 8, 2026 Justin E HallEVP Sold 716 $275.82 $0.2M Form 4
Feb 24, 2026 Joseph P KelleyExecutive Vice President Sold 8,725 $293.04 $2.6M Form 4
Feb 24, 2026 Sundaram NagarajanPresident and CEO, Director Sold 41,800 $293.26 $12.3M Form 4
Feb 23, 2026 Joseph P KelleyExecutive Vice President Sold 23,052 $289.31 $6.7M Form 4
Nov 10, 2025 James E DeVriesExecutive Vice President Sold plan 9,100 $233.60 $2.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✓ ✕
Revenue rose relative to assets ✓ ✕ ✕
F-score 6 / 96 / 95 / 9
Accruals ratio −3.4%−1.6%−3.9%
Altman Z'' 5.174.914.99

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Nordson NDSN $17.9B 3.8% 25.5% 23.7% 11.6% 32.3x 5
ESAB ESAB $4.1B 3.7% 14.5% 7.5% 11.0% 24.1x 4 Compare →
Carpenter Technology CRS $14.2B 8.6% 22.5% 11.6% 23.7% 25.1x 9 Compare →
Middleby MIDD $5.1B 1.6% 18.0% 17.5% 8.7% — 4 Compare →
Crane CR $10.7B 8.2% 18.4% 14.8% 15.2% 32.0x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.8B $2.1B $2.3B $2.2B $2.1B $2.4B $2.6B $2.6B $2.7B $2.8B
Gross profit $994M $1.1B $1.2B $1.2B $1.1B $1.3B $1.4B $1.4B $1.5B $1.5B
Research and development $46.2M $52.5M $58.8M $60.0M $63.6M $59.4M $52.5M $71.4M $65.0M $68.2M
Operating income $388M $466M $503M $483M $350M $615M $702M $673M $674M $712M
Interest expense $21.3M $36.6M $49.6M $47.1M $32.2M $25.5M $22.4M $59.5M $88.9M $104M
Pretax income $369M $420M $449M $431M $302M $574M $649M $615M $586M $598M
Income tax $96.7M $125M $71.1M $94.0M $51.9M $120M $136M $128M $118M $113M
Net income $272M $296M $377M $337M $250M $454M $513M $488M $467M $485M
Diluted EPS $4.73 $5.08 $6.40 $5.79 $4.27 $7.74 $8.81 $8.46 $8.11 $8.51
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $335M $357M $505M $383M $502M $546M $513M $641M $556M $719M
Capital expenditure $60.9M $71.6M $89.8M $64.2M $50.5M $38.3M $51.4M $34.6M $64.4M $58.1M
Free cash flow $274M $285M $415M $319M $452M $508M $462M $607M $492M $661M
Depreciation and amortization $70.3M $90.9M $108M $110M $113M $104M $99.9M $59.7M $77.0M $79.3M
Stock-based compensation $18.2M $20.2M $21.6M $18.1M $12.9M $22.8M $30.7M $22.7M $19.0M $18.9M
Acquisitions $42.6M $806M $50.6M $12.5M $142M $0.0M $172M $1.4B $790M $0.0M
Share buybacks $33.4M $3.2M $24.0M $121M $52.6M $61.0M $263M $89.7M $33.3M $306M
Dividends paid $56.4M $63.8M $72.4M $82.1M $88.3M $97.7M $126M $150M $161M $179M
Dividends and buybacks $89.9M $67.1M $96.5M $203M $141M $159M $389M $240M $195M $485M
Balance sheet
Cash and short-term investments $67.2M $90.4M $95.7M $151M $208M $300M $164M $116M $116M $108M
Total debt $981M $1.6B $1.3B $1.2B $1.1B $812M $738M $1.7B $2.2B $2.0B
Finance lease liabilities $0.0M $0.0M $0.0M $14.9M $16.5M $20.7M $16.1M $16.6M $17.3M $14.3M
Current assets $746M $888M $884M $1.0B $1.0B $1.2B $1.1B $1.2B $1.3B $1.2B
Current liabilities $332M $648M $350M $478M $363M $445M $834M $582M $529M $758M
Inventory $220M $264M $265M $283M $277M $327M $383M $455M $477M $445M
Property and equipment, net $273M $346M $387M $399M $359M $356M $353M $393M $545M $517M
Total assets $2.4B $3.4B $3.4B $3.5B $3.7B $3.8B $3.8B $5.3B $6.0B $5.9B
Total liabilities $1.6B $2.3B $2.0B $1.9B $1.9B $1.6B $1.5B $2.7B $3.1B $2.9B
Shareholders' equity $852M $1.2B $1.5B $1.6B $1.8B $2.2B $2.3B $2.6B $2.9B $3.0B
Margins
Gross margin 54.9% 55.1% 54.8% 54.3% 53.3% 56.1% 55.1% 54.2% 55.3% 55.2%
Operating margin 21.5% 22.6% 22.3% 22.0% 16.5% 26.0% 27.1% 25.6% 25.1% 25.5%
EBITDA margin 25.4% 27.0% 27.1% 27.0% 21.8% 30.4% 31.0% 27.9% 27.9% 28.3%
Net margin 15.0% 14.3% 16.7% 15.4% 11.8% 19.2% 19.8% 18.6% 17.4% 17.4%
FCF margin 15.1% 13.8% 18.4% 14.5% 21.3% 21.5% 17.8% 23.1% 18.3% 23.7%
Returns
Return on capital 16.4% 14.9% 15.9% 14.1% 10.8% 18.1% 19.9% 15.0% 11.6% 11.6%
Return on capital employed 18.7% 19.2% 17.2% 15.8% 11.0% 18.5% 22.2% 17.6% 13.3% 13.4%
Return on equity 36.0% 29.5% 29.0% 22.2% 14.9% 23.2% 23.0% 19.9% 16.9% 16.2%
Return on assets 11.4% 10.1% 11.0% 9.7% 6.9% 12.2% 13.5% 10.8% 8.3% 8.1%
Growth
Revenue growth 7.1% 14.3% 9.1% −2.7% −3.3% 11.4% 9.7% 1.5% 2.3% 3.8%
Net income growth 28.8% 8.8% 27.6% −10.7% −26.0% 82.1% 12.9% −5.0% −4.2% 3.7%
EPS growth 37.1% 7.4% 26.0% −9.5% −26.3% 81.3% 13.8% −4.0% −4.1% 4.9%
FCF growth 37.0% 4.2% 45.5% −23.2% 41.8% 12.3% −9.1% 31.4% −18.9% 34.4%
Share count change −5.9% 1.2% 1.3% −1.2% 0.5% 0.5% −0.8% −1.1% −0.0% −1.2%
Financial health
Net debt / EBITDA 2.0x 2.7x 2.0x 1.9x 2.0x 0.7x 0.7x 2.2x 2.8x 2.4x
Debt / equity 1.2x 1.4x 0.9x 0.8x 0.6x 0.4x 0.3x 0.7x 0.8x 0.7x
Interest coverage 18.2x 12.7x 10.1x 10.3x 10.9x 24.1x 31.3x 11.3x 7.6x 6.8x
Current ratio 2.3x 1.4x 2.5x 2.1x 2.8x 2.6x 1.4x 2.1x 2.4x 1.6x
Quick ratio 1.6x 1.0x 1.8x 1.5x 2.1x 1.9x 0.9x 1.3x 1.5x 1.1x
Capital allocation
Capex / revenue 3.4% 3.5% 4.0% 2.9% 2.4% 1.6% 2.0% 1.3% 2.4% 2.1%
Stock comp / revenue 1.0% 1.0% 1.0% 0.8% 0.6% 1.0% 1.2% 0.9% 0.7% 0.7%
Payouts / FCF 32.8% 23.5% 23.3% 63.6% 31.2% 31.3% 84.2% 39.6% 39.6% 73.4%
Quality scores
Piotroski F-score 8.0 6.0 5.0 5.0 5.0 7.0 7.0 6.0 6.0 5.0
Altman Z'' 5.4 4.0 5.2 5.3 5.4 6.5 6.4 5.2 4.9 5.0
Accruals ratio −2.6% −2.1% −3.7% −1.3% −7.0% −2.5% 0.0% −3.4% −1.6% −3.9%

Source: SEC EDGAR XBRL filings (CIK 0000072331). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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