Company file · NDSN
Nordson
Medical Fluid Systems was Nordson's fastest-growing segment in FY2025, up 20.1%
Revenue rose 3.8% to $2.8B in FY2025, from $2.7B in FY2024. Net income rose 3.7% to $484M. Industrial Precisions Solutions was the largest segment, at 48% of revenue.
Key facts
In fiscal 2025, which ended Oct 31, 2025, Nordson (Nasdaq: NDSN) took in $2.8B of revenue (up 3.8% on fiscal 2024); net income was $484M (up 3.7%). The most recent quarter, ended Jul 31, 2026, brought revenue of $818M, up 10.3% year over year, with net income of $153M. Industrial Precisions Solutions was the biggest single line by segment: 48% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Dec 17, 2025) and 10-Q for the quarter ended Jul 31, 2026 (filed Aug 20, 2026).
Source: 10-K FY2025, filed Dec 17, 2025
Source: 10-Q filed Feb 19, 2026 · 10-Q filed May 21, 2026 · 10-Q filed Aug 20, 2026
How it makes money
By segment, FY2025
- LineAmountSharevs FY2024
- Industrial Precisions Solutions$1.3B48%−4.8%
- Medical Fluid Systems$835M30%+20.1%
- Advanced Technology Systems$625M22%+4.9%
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Industrial Precisions Solutions (48%), Medical Fluid Systems (30%) and Advanced Technology Systems (22%), as shares of total revenue. Total revenue was $2.8B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 FY2026 (May to Jul 2026) compared with Q3 FY2025 (May to Jul 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 FY2026Q3 FY2025
Company
Source: Nordson 10-Q for the quarter ended Jul 31, 2026, filed Aug 20, 2026
By segment
Source: Nordson 10-Q for the quarter ended Jul 31, 2026, filed Aug 20, 2026
The bull case and the bear case
The bull case
- Revenue rose 3.8% in FY2025 to $2.8B, from $2.7B a year earlier. 10-K, FY2025
- Net income rose 3.7% in FY2025 to $484M, from $467M. 10-K, FY2025
- Operating cash flow rose 29.3% in FY2025 to $719M. 10-K, FY2025
- Diluted shares fell 1.2% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
The bear case
- Industrial Precisions Solutions revenue fell 4.8% in FY2025 to $1.3B. 10-K, FY2025
- Europe revenue fell 0.5% in FY2025 to $722M. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include economic cycles; costs and supply; trade and tariffs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Nordson is in the industrial machinery & supplies & components industry, part of the industrials sector. The SEC files it under General Industrial Machinery & Equipment, Nec.
Nordson reports 3 segments: Industrial Precisions Solutions, Medical Fluid Systems and Advanced Technology Systems.
Its fiscal year ends in October; the latest, FY2025, ended Oct 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the industrial machinery & supplies & components industry. They are not a summary of Nordson’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $2.6B | $2.7B | $2.8B |
| Net income | $487M | $467M | $484M |
| Operating cash flow | $641M | $556M | $719M |
| Cash & equivalents (year end) | $116M | $116M | $108M |
| Total debt (year end) | $1.7B | $2.2B | $2.0B |
| Diluted shares | 58M | 58M | 57M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Commercial paper and the current part of long-term debt plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Order backlog
- Dividends, yield and payout ratio
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Aug 20, 2026 | Jul 31, 2026 |
| 10-Q | May 21, 2026 | Apr 30, 2026 |
| 10-Q | Feb 19, 2026 | Jan 31, 2026 |
| DEF 14A | Jan 16, 2026 | Mar 2, 2026 |
| 10-K | Dec 17, 2025 | Oct 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Nordson
How does Nordson make money?
In fiscal 2025, revenue totaled $2.8B. By segment in FY2025: Industrial Precisions Solutions (48%), Medical Fluid Systems (30%) and Advanced Technology Systems (22%), as shares of total revenue. Total revenue was $2.8B. Source: 10-K for fiscal 2025, filed Dec 17, 2025.
What was Nordson's revenue in fiscal 2025?
Revenue came to $2.8B in the year ended Oct 31, 2025. Going back two years, it was $2.6B in fiscal 2023 and $2.7B in fiscal 2024, so the latest year was up 3.8%. Source: 10-K for fiscal 2025, filed Dec 17, 2025.
Is Nordson profitable?
Yes, by US accounting rules (GAAP): net income was $484M in fiscal 2025, up 3.7% from $467M a year earlier. For the quarter ended Jul 31, 2026, net income was $153M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Dec 17, 2025.
What did Nordson report in its latest quarterly filing?
The 10-Q for the quarter ended Jul 31, 2026 shows revenue of $818M, against $742M in the same quarter a year before (up 10.3%), and net income of $153M, against $126M (up 21.5%). Source: 10-Q for the quarter ended Jul 31, 2026, filed Aug 20, 2026.
How much cash and debt does Nordson have?
On Jul 31, 2026, cash and cash equivalents stood at $113M and total debt at $1.7B. Total debt here is commercial paper and the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Aug 20, 2026.
What are the main risks Nordson faces?
Nordson's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Dec 17, 2025. Risks that are common among companies in the industrial machinery & supplies & components industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Nordson numbers come from?
Two filings Nordson made with the SEC: its fiscal 2025 10-K, filed Dec 17, 2025, and its 10-Q for the quarter ended Jul 31, 2026, filed Aug 20, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Nordson
- Millennium Management: 303,890 shares, reported value $91.7M at Jun 30, 2026 (−57.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 38,528 shares, reported value $11.6M at Jun 30, 2026 (−48.8% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Two Sigma Investments: 31,996 shares, reported value $9.7M at Jun 30, 2026 (−81.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 776 shares, reported value $0.2M at Jun 30, 2026 (−87.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in NDSN
- The editor holds no position in Nordson (NDSN). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell NDSN from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 10, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold NDSN, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| NordsonNDSN | FY2025 | $2.8B | +3.8% | $484M |
| Parker HannifinPH | FY2026 | $21.5B | +8.3% | $3.6B |
| Illinois Tool WorksITW | FY2025 | $16.0B | +0.9% | $3.1B |
| W. W. GraingerGWW | FY2025 | $17.9B | +4.5% | $1.7B |
| Ingersoll RandIR | FY2025 | $7.7B | +5.7% | $581M |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.