NORDSON CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NORDSON CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,809	2,067	2,255	2,194	2,121	2,362	2,590	2,629	2,690	2,792
Cost of revenue	815	928	1,018	1,002	991	1,038	1,164	1,203	1,204	1,252
Gross profit	993	1,139	1,236	1,192	1,130	1,324	1,427	1,425	1,486	1,540
Research and development	46.2	52.5	58.8	60	63.6	59.4	52.5	71.4	65	68.2
Selling, general and administrative	605	673	734	709	694	709	724	753	812	816
Operating income	388	466	503	483	350	615	702	673	674	712
Interest expense	21.3	36.6	49.6	47.1	32.2	25.5	22.4	59.5	88.9	104
Interest income	0.73	1.12	1.38	1.84	1.68	2.15	2.03	2.68	4.91	3.05
Other non-operating income	-19.9	-46.1	-54.1	-52	-48.1	-41	-53.1	-57.4	-88.5	-114
Pre-tax income	368	420	449	431	301	574	649	615	585	598
Income tax	96.7	124	71.1	94	52	120	136	128	118	113
Net income	272	296	377	337	250	454	513	487	467	484
EBITDA	430	512	556	539	406	719	802	732	751	791
EPS, basic	4.76	5.14	6.51	5.87	4.32	7.82	8.90	8.54	8.17	8.56
EPS, diluted	4.73	5.08	6.40	5.79	4.27	7.74	8.81	8.46	8.11	8.51
Shares, basic (weighted)	57.1	57.5	58	57.5	57.8	58.1	57.6	57.1	57.2	56.6
Shares, diluted (weighted)	57.5	58.2	58.9	58.2	58.5	58.7	58.2	57.6	57.6	56.9
Dividend per share	0.99	1.11	1.25	1.43	1.53	1.69	2.18	2.63	2.82	3.16

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	67.2	90.4	95.7	151	208	300	163	116	116	108
Receivables	429	505	491	531	472	489	537	591	595	588
Inventory	220	264	264	283	277	327	383	455	477	445
Other current assets	29.4	28.6	32.5	45.9	43.8	48.3	48.8	68	87.5	102
Total current assets	746	888	884	1,011	1,021	1,165	1,133	1,229	1,275	1,243
Property, plant and equipment	273	346	387	399	359	356	353	393	545	517
Lease right-of-use assets				0	122	111	102	106	93.6	77.5
Goodwill	1,107	1,589	1,608	1,615	1,713	1,713	1,805	2,784	3,281	3,305
Intangible assets	260	547	500	446	408	357	329	673	741	682
Other non-current assets	23.8	32.3	32.7	34.8	42.5	77.8	87.1	50.5	54.8	82.9
Total assets	2,421	3,415	3,421	3,516	3,675	3,791	3,820	5,252	6,001	5,918
Accounts payable	75.1	86	83.6	85.1	70.9	91.7	99.3	106	97.8	121
Accrued liabilities	163	173	175	162	168	202	207	200	225	229
Short-term debt	38.1	327	28.7	169	38	34.2	393	116	104	315
Total current liabilities	332	648	350	478	363	445	834	582	528	758
Long-term debt	943	1,256	1,285	1,075	1,068	782	345	1,621	2,101	1,681
Lease liabilities				0	109	97.7	90.8	92.4	80.8	64.5
Other non-current liabilities	22.3	25.9	41.7	44.4	47.1	40.4	36.4	44.2	42.1	82.6
Total liabilities	1,569	2,259	1,970	1,935	1,916	1,632	1,526	2,654	3,069	2,874
Total debt	981	1,583	1,314	1,244	1,106	812	738	1,732	2,187	1,996
Paid-in capital	377	413	447	483	535	585	627	668	714	741
Retained earnings	1,933	2,165	2,488	2,748	2,909	3,265	3,652	3,989	4,295	4,601
Treasury stock	-1,302	-1,300	-1,317	-1,430	-1,471	-1,528	-1,789	-1,875	-1,905	-2,210
Other comprehensive income	-168	-134	-179	-232	-226	-176	-208	-196	-185	-100
Shareholders' equity	852	1,155	1,451	1,581	1,759	2,159	2,294	2,598	2,932	3,044
Total equity	852	1,155	1,451	1,581	1,759	2,159	2,294	2,598	2,932	3,044
Total liabilities and equity	2,421	3,415	3,421	3,516	3,675	3,791	3,820	5,252	6,001	5,918
Shares outstanding	57.3	57.7	58	57.6	58.1	58.2	57.1	57	57.2	55.9

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	272	296	377	337	250	454	513	487	467	484
Depreciation and amortization	41.2	45.9	53	55.5	56.3	104	99.9	59.7	77	79.3
Stock-based compensation	18.2	20.2	21.6	18.1	12.9	22.8	30.7	22.7	19	18.9
Deferred income tax	-3.6	-0.47	-33.9	-1.02	-14	4.07	-10.7	-16.1	-18.6	-12.6
Change in receivables	-41.2	-46.2	10.2	-40	50.1	-13.7	-72.9	18.2	14	3.75
Change in inventory	1.78	-19.7	5.53	-23.1	5.79	-50.6	-69.1	22.4	46.6	34.6
Change in payables	7.3	4.81	-2.67	0.65	-10.7	20.8	10.7	-15.8	-38.6	21.3
Cash from operations	335	357	505	383	502	546	513	641	556	719
Capital expenditures	-60.9	-71.6	-89.8	-64.2	-50.5	-38.3	-51.4	-34.6	-64.4	-58.1
Acquisitions	-42.7	-806	-50.6	-12.5	-142	0	-172	1,423	790
Cash from investing	-102	-878	-140	-76.3	-194	-33.2	-223	-1,437	-844	-26.7
Debt issued	261	842	586	187	166	9.41	63.1	2,179	783	25.6
Debt repaid	-393	-237	-855	-254	-320	-299	-97	-1,203	-319	-250
Stock issued	11.5	14.1	18.8	26	50.9	31.8	12.1	21.4	31.1	9.01
Share buybacks	-33.4	-3.22	-24	-121	-52.6	-61	-263	-89.7	-33.3	-306
Dividends paid	-56.4	-63.8	-72.4	-82.1	-88.3	-97.7	-126	-150	-161	-179
Cash from financing	-214	541	-354	-251	-252	-423	-416	751	294	-706
Exchange rate effect	-1.71	3.61	-5.74	-0.04	0.35	1.83	-10.9	-2.69	-6.02	6.44
Net change in cash	17	23.1	5.3	55.5	57.1	91.7	-137	-47.8	0.27	-7.51
Free cash flow	274	285	415	319	452	508	462	607	492	661
Interest paid	23.4	36.5	42.3	50.6	31.1	27.1	23	54.7	86	98.7
Income taxes paid	103	118	87.9	104	80.8	107	141	113	160	148

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $325.77 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	55.3%	Gross profit / revenue.
Operating margin	26.9%	Operating income / revenue.
EBITDA margin	28.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	22.6%	Pre-tax income / revenue.
Net margin	18.6%	Net income / revenue.
FCF margin	24.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.0%	Cash from operations / revenue.
Effective tax rate	17.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.3%	Net income / average total assets.
Return on invested capital (ROIC)	13.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	28.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.7%	Capital expenditures / revenue.
D&A / revenue	1.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	3.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	5.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	15.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	5.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-0.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	14.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	3.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-1.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	14.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	4.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	14.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	29.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	11.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	34.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	12.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	12.1%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	13.2%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	15.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	3.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	15.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	10.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-1.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.82x	Current assets / current liabilities.
Quick ratio	1.05x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.16x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.53x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	29.1%	Total debt / total assets.
Liabilities / assets	45.0%	Total liabilities / total assets.
Net debt	$1.62B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.93x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	8.83x	Operating income / interest expense.
Working capital	$599.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	66.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$673.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.50x	Revenue / average total assets.
Fixed asset turnover	5.76x	Revenue / average property, plant and equipment.
Inventory turnover	2.84x	Cost of revenue / average inventory.
Days inventory	129 days	365 x average inventory / cost of revenue.
Receivables turnover	4.59x	Revenue / average receivables.
Days sales outstanding	79 days	365 x average receivables / revenue.
Days payables	42 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	166 days	Days inventory + days sales outstanding - days payables.
FCF conversion	130.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$9.91	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$53.19	Revenue / diluted weighted shares.
FCF per share	$12.92	Free cash flow / diluted weighted shares.
Operating cash flow per share	$13.80	Cash from operations / diluted weighted shares.
Book value per share	$58.35	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$12.01	Tangible book value / shares outstanding.
Cash per share	$2.02	(Cash + short-term investments) / shares outstanding.
Payout ratio	33.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	25.3%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	34.1%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$18.15B	Share price x shares outstanding.
Enterprise value	$19.77B	Market cap + total debt - cash - short-term investments.
P/E	32.7x	Market cap / net income. Only when net income is positive.
P/S	6.09x	Market cap / revenue.
P/B	5.55x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	25.1x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	23.5x	Market cap / cash from operations, when positive.
EV/Sales	6.63x	Enterprise value / revenue.
EV/EBIT	24.7x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	27.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.0%	Free cash flow / market cap.
Earnings yield	3.1%	Net income / market cap (the inverse of P/E).
Dividend yield	1.0%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was NORDSON CORP's revenue in fiscal 2025?

NORDSON CORP reported revenue of $2.79B for fiscal 2025, 3.8% higher than the year before.

Was NORDSON CORP profitable in fiscal 2025?

Yes. Net income was $484.5M, a net margin of 17.4%.

How much free cash flow did NORDSON CORP generate in fiscal 2025?

Cash from operations of $719.2M minus capital expenditures of $58.1M left free cash flow of $661.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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