Nordson CorporationNDSN
NasdaqGS•Industrials•Specialty Industrial Machinery
Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, medical components, and other fluids. The Industrial Precision Solutions segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems; components and systems for thermoplastic and biopolymer melt stream; fluid components, such as nozzles, pumps, and filters; smart components that measure and control the flow, quantity and location of dispensed fluid; control systems; and product assembly solutions. It also offers automated and manual dispensing products and systems for cold materials, container coating, liquid finishing, and powder coating, as well as ultraviolet equipment. The Medical and Fluid Solutions segment offers precision manual and semi-automated dispensers, plastic molded syringes, cartridges, tips, and fluid connection components; interventional solutions for engineered shafts and interventional delivery systems, medical tubing, balloons, balloon inflators, nitinol devices, cardiovascular cannula, and biomaterial delivery; medical fluid components; and microplegia myocardial protection devices and related consumables. The Advanced Technology Solutions segment provides automated dispensing systems for high-speed, precise application of various attachment, protection, and coating fluids, and related gas plasma treatment systems; destructive and non-destructive testing technologies, such as bond testers and automated optical, acoustic microscopy, and x-ray inspection systems used in the semiconductor and printed circuit board industries; and precision measurement and control technologies. The company markets its products through direct sales force, distributors, and sales representatives. Nordson Corporation was founded in 1909 and is headquartered in Westlake, Ohio.
Nordson Corporation (NDSN) reported trailing twelve months revenue of $2.90B as of April 2026, a 7.4% increase year-over-year. Quarterly revenue reached $740.85M, reflecting continued top-line momentum.
Nordson Corporation generated $528.12M in TTM net income, with quarterly EBITDA of $233.52M. The operating margin expanded from 24.7% to 26.6%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (26.6%) and net margin (15.8%) indicates moderate non-operating costs. Net margin has narrowed from 16.5% a year ago, reflecting increased costs or interest expense.
NDSN trades at a P/E of 29.6x (in line with broad market averages) and a P/S of 5.4x. The price-to-book ratio of 4.9x reflects a moderate premium to book value.
The company generated $170.49M in free cash flow over the trailing twelve months, a 65.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $5.96B in total assets with $1.84B in long-term debt against $3.20B in stockholders equity for a debt-to-equity ratio of 0.6. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~25.3%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 16.0% suggests a durable competitive advantage and efficient capital allocation.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (6 of 7 quarters up), with ~9.0% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~26.3% — no sign of cost or pricing stress.
FCF covers net income by 1.2x on average — earnings are well-supported by cash generation.
D/E ratio is 0.6 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares decreased 2.5% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation