Nordson
NDSN · NasdaqGeneral Industrial Machinery & Equipment, NEC · Fiscal year ends Oct 31
Nordson reported revenue of $2.8B in the fiscal year ended Oct 2025, up 3.8% from the year before. Operating income was $712M, an operating margin of 25.5%, and net income was $484M. Operating cash flow of $719M less capital expenditure of $58M left free cash flow of $661M. Net debt was $1.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue | $2.4B | $2.6B | $2.6B | $2.7B | $2.8B |
| Cost of revenue | $1B | $1.2B | $1.2B | $1.2B | $1.3B |
| Gross profit | $1.3B | $1.4B | $1.4B | $1.5B | $1.5B |
| Research & development | $59M | $53M | $71M | $65M | $68M |
| Selling, general & admin | $709M | $724M | $753M | $812M | $816M |
| Operating income | $615M | $702M | $673M | $674M | $712M |
| Interest expense | $25M | $22M | $60M | $89M | $104M |
| Pre-tax income | $574M | $649M | $615M | $585M | $598M |
| Income tax | $120M | $136M | $128M | $118M | $113M |
| Net income | $454M | $513M | $487M | $467M | $484M |
| Diluted EPS | 7.74 | 8.81 | 8.46 | 8.11 | 8.51 |
| Diluted shares | 59M | 58M | 58M | 58M | 57M |
Balance sheet
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $300M | $163M | $116M | $116M | $108M |
| Receivables | $489M | $537M | $591M | $595M | $588M |
| Inventory | $327M | $383M | $455M | $477M | $445M |
| Current assets | $1.2B | $1.1B | $1.2B | $1.3B | $1.2B |
| Net PP&E | $356M | $353M | $393M | $545M | $517M |
| Goodwill | $1.7B | $1.8B | $2.8B | $3.3B | $3.3B |
| Total assets | $3.8B | $3.8B | $5.3B | $6B | $5.9B |
| Payables | $92M | $99M | $106M | $98M | $121M |
| Current liabilities | $445M | $834M | $582M | $528M | $758M |
| Short-term debt | $34M | $393M | $116M | $104M | $315M |
| Long-term debt | $782M | $345M | $1.6B | $2.1B | $1.7B |
| Shareholders' equity | $2.2B | $2.3B | $2.6B | $2.9B | $3B |
Cash flow
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $546M | $513M | $641M | $556M | $719M |
| Capital expenditure | $38M | $51M | $35M | $64M | $58M |
| Free cash flow | $508M | $462M | $607M | $492M | $661M |
| Depreciation & amortisation | $104M | $100M | $60M | $77M | $79M |
| Stock-based compensation | $23M | $31M | $23M | $19M | $19M |
| Acquisitions | $0 | $172M | −$1.4B | −$790M | – |
| Share buybacks | $61M | $263M | $90M | $33M | $306M |
| Dividends paid | $98M | $126M | $150M | $161M | $179M |
| Dividend per share | 1.69 | 2.18 | 2.63 | 2.82 | 3.16 |
Key ratios
| Fiscal year | Oct 2021 | Oct 2022 | Oct 2023 | Oct 2024 | Oct 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.7% | 1.5% | 2.3% | 3.8% |
| Operating income growth (YoY) | – | 14.2% | −4.2% | 0.2% | 5.6% |
| EPS growth (YoY) | – | 13.8% | −4.0% | −4.1% | 4.9% |
| Gross margin | 56.1% | 55.1% | 54.2% | 55.2% | 55.2% |
| Operating margin | 26.0% | 27.1% | 25.6% | 25.1% | 25.5% |
| Net margin | 19.2% | 19.8% | 18.5% | 17.4% | 17.4% |
| Return on equityBlank when equity is negative | 21.0% | 22.4% | 18.8% | 15.9% | 15.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 18.4% | 23.5% | 14.4% | 12.3% | 13.8% |
| Free cash flow margin | 21.5% | 17.8% | 23.1% | 18.3% | 23.7% |
| Cash conversion (CFO ÷ net income) | 1.20x | 1.00x | 1.32x | 1.19x | 1.48x |
| Receivable days | 76 | 76 | 82 | 81 | 77 |
| Inventory days | 115 | 120 | 138 | 145 | 130 |
| Payable days | 32 | 31 | 32 | 30 | 35 |
| Interest cover | 24.1x | 31.3x | 11.3x | 7.58x | 6.83x |
| Debt ÷ equity | 0.38x | 0.32x | 0.67x | 0.75x | 0.66x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $516M | $574M | $1.6B | $2.1B | $1.9B |
| Current ratio | 2.62x | 1.36x | 2.11x | 2.41x | 1.64x |
Recent filings
More in General Industrial Machinery & Equipment, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.