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DCF valuation

What is Nordson Corp worth?

With the base-case assumptions below, a discounted cash flow model on Nordson Corp's reported free cash flow gives $190.27 per share. The share price was $325.77 on September 25, 2026, 71% above that value.

Inputs from the filings

Free cash flow, fiscal 2025
$661.1M
Average free cash flow, last 5 years
$545.8M
Cash
$113.4M
balance sheet of July 31, 2026
Debt
$1.73B
balance sheet of July 31, 2026
Diluted shares, fiscal 2025
56,916,000
Revenue growth per year, last 5 years
5.6%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear0.5%1.5%2.0%10.0%$108.53-67%
Base5.5%4.0%2.5%9.0%$190.27-42%
Bull10.5%7.0%3.0%8.0%$353.25+8%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$250.27$268.54$290.86$318.77$354.65
8.0%$205.54$217.38$231.38$248.18$268.71
9.0%$172.83$180.93$190.27$201.18$214.06
10.0%$147.90$153.66$160.19$167.65$176.25
11.0%$128.28$132.50$137.22$142.53$148.55

Where the presets come from

Base: years 1 to 5 grow at Nordson Corp's revenue growth rate over the last 5 fiscal years (5.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Nordson Corp company page