Skip to Content

Nordson Corp NDSN

Rating as of

Morningstar’s Analysis

Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price


5-Star Price


Economic Moat


Capital Allocation


Nordson Is Well-Positioned to Deliver Profitable Growth; Raising FVE

Analyst Note

| Krzysztof Smalec, CFA |

Following Nordson’s 2021 investor day, we've raised our fair value estimate for the narrow-moat-rated industrial firm to $200 from $190. The fair value increase is primarily driven by more optimistic long-term revenue growth projections. Management expects sales to grow at an over 7% CAGR over the next five years, including over 4% organic growth and an over 3% boost from acquisitions. Furthermore, the company is targeting an EBITDA margin of at least 30% by 2025, which would represent a roughly 300-basis-point margin expansion from 2020 levels.

Read Full Analysis

Company Profile

Business Description

Nordson is a manufacturer of equipment (including pumps, valves, dispensers, applicators, filters, and pelletizers, among other equipment) used for dispensing adhesives, coatings, sealants, and other materials. The firm serves a diverse range of end markets including packaging, medical, electronics, and industrial. Nordson’s business is organized into two segments: industrial precision solutions (54% of sales in fiscal 2020) and advanced technology solutions (46% of sales in fiscal 2020). The company generated approximately $2.1 billion in revenue and $350 million in operating income in its fiscal 2020.

28601 Clemens Road
Westlake, OH, 44145
T +1 440 892-1580
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Jan 31, 2021
Fiscal Year End Oct 31, 2021
Stock Type Cyclical
Employees 7,600