Nordson Corporation

Nordson, based in Westlake, Ohio, makes precision equipment that factories use to dispense and apply exact amounts of adhesives, coatings, sealants, polymers and other fluids. It also makes machines that test and inspect products for quality, along with medical parts such as catheters, balloons and tubing. Its customers include makers of food and drink packaging, diapers, semiconductors, circuit boards, appliances, cars, farm spraying equipment and medical devices. Products range from single-use syringes and dispensing tips to fully automated production-line systems. A direct sales and service network in more than 35 countries supports them.

In the fiscal year ended October 31, 2025, revenue was $2.79 billion. Industrial Precision Solutions brought in 47.7%. It covers glue systems for packaging, coatings, plastics processing, precision agriculture and equipment for disposable hygiene products such as diapers. Medical and Fluid Solutions makes single-use medical components and fluid dispensers, and it contributed 29.9%. Advanced Technology Solutions mainly serves semiconductor and electronics makers, and it added 22.4%.

About 67% of revenue came from outside the United States. By region, the Americas made up 43.2%, Asia Pacific excluding Japan 30.9% and Europe 25.9%. No single customer reached 10% of sales. Profits are a large share of revenue. Operating margin, the share of revenue left after running costs, was 25.5%, and net income was $484 million.

• In Q3 FY2026 (ended Jul 31, 2026), revenue was $817.7M, up 10.3% from a year earlier, and net income was $152.8M (+21.5%).
• For fiscal 2025, revenue was $2.79B (+3.8% year over year; +5.6% a year from FY2020 to FY2025) with a 17.4% net margin.

• Over FY2021–FY2025: $753.3M in buybacks and $714.5M in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +15.6% a year over 5 years (FY2020–FY2025).
• Dividends took 37% of earnings and 27.1% of free cash flow in the latest fiscal year.
• Shares outstanding changed -4.2% from Aug 27, 2021 to Aug 18, 2026.

Rank among 1514 US companies

Market value at each year end

Nordson’s market value went from $6.43B at the end of 2016 to $18.25B on Nov 2, 2026, about 2.8 times as much; since the end of 2025 it is up 36%.

Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 51 sales ($23.5M), 2 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in NDSN

1. Tariffs and shifting trade policy. Nordson says US trade policy has significantly affected its results. Tariffs on imports, especially from China and Mexico, where it has factories, and retaliation abroad can raise costs and squeeze margins.
2. Cyclical demand in key end markets. Nordson says demand from electronics, polymer processing, agriculture and metal finishing customers has historically risen and fallen with the economy. A downturn in those industries can cut orders and profits.
3. Acquisitions may disappoint or need write-downs. Acquiring companies is a core part of Nordson's growth plan. Deals can be hard to integrate. If one underperforms, Nordson may have to write down goodwill, the premium paid above the assets' value.
4. Most revenue earned outside the US. In fiscal 2025, about 67% of revenue came from outside the US, with particular exposure to the euro, yen, pound and Chinese yuan. A stronger dollar shrinks those sales once converted to dollars.
5. Debt far exceeds cash on hand. As of July 31, 2026, Nordson had about $1.73 billion of debt against $113 million of cash. Higher interest rates raise borrowing costs, and breaking loan conditions (covenants) could limit refinancing or growth.
6. Supply shortages and raw material costs. Nordson relies on metals, plastics, electronic components and some finished goods from outside suppliers. Shortages or price increases can delay production and raise costs, though most key materials have multiple sources.

• Oct 23, 2026 Investor presentation or announcement; Other company announcement
• Aug 19, 2026 Quarterly results released; Investor presentation or announcement
• Jun 3, 2026 New debt or financial obligation
• May 20, 2026 Quarterly results released; Investor presentation or announcement
• Mar 4, 2026 Shareholder vote results
• Feb 18, 2026 Quarterly results released; Investor presentation or announcement
• Feb 2, 2026 Major agreement signed; New debt or financial obligation
• Dec 10, 2025 Quarterly results released; Investor presentation or announcement

Nordson raised its dividend in every fiscal year from 2016 through 2025. That is a streak of at least 9 increases, and the true streak may be longer. Dividends per share grew from $1.53 in fiscal 2020 to $3.16 in fiscal 2025, about 15.6% a year. The fiscal 2025 dividend used 37% of earnings and 27% of free cash flow (cash left after capital spending). The yield was a modest 1.04% as of October 28, 2026. Buybacks totaled $753 million over fiscal 2021–2025, slightly more than dividends. The share count fell 4.2% from August 2021 to August 2026.

The shares have fallen hard in past downturns. They dropped 73.6% from July 2008 to March 2009 and took about 19 months after that low to regain their peak. They fell 42.1% in the 2020 COVID crash but recovered in under two months. In 2022 they dropped 21.8% and recovered in about eight months. A single stock carries more risk than a diversified fund.