Nordson (NDSN) financial statements
Nordson reported revenue of $2.8B in fiscal 2025, up 4.9% a year over 9 years.
Net income was $484M and the operating margin 25.5%, against 21.5% in 2016.
Free cash flow was $661M, and the company returned $179M in dividends and $306M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Nordson's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.1B | $2.3B | $2.2B | $2.1B | $2.4B | $2.6B | $2.6B | $2.7B | $2.8B |
| Cost of revenue | $815M | $928M | $1.0B | $1.0B | $991M | $1.0B | $1.2B | $1.2B | $1.2B | $1.3B |
| Gross profit | $993M | $1.1B | $1.2B | $1.2B | $1.1B | $1.3B | $1.4B | $1.4B | $1.5B | $1.5B |
| Research and development | $46M | $52M | $59M | $60M | $64M | $59M | $53M | $71M | $65M | $68M |
| Selling, general and admin | $605M | $673M | $734M | $709M | $694M | $709M | $724M | $753M | $812M | $816M |
| Operating income | $388M | $466M | $503M | $483M | $350M | $615M | $702M | $673M | $674M | $712M |
| Interest expense | $21M | $37M | $50M | $47M | $32M | $25M | $22M | $60M | $89M | $104M |
| Pre-tax income | $368M | $420M | $449M | $431M | $301M | $574M | $649M | $615M | $585M | $598M |
| Income tax | $97M | $124M | $71M | $94M | $52M | $120M | $136M | $128M | $118M | $113M |
| Net income | $272M | $296M | $377M | $337M | $250M | $454M | $513M | $487M | $467M | $484M |
| EPS (diluted) | $4.73 | $5.08 | $6.40 | $5.79 | $4.27 | $7.74 | $8.81 | $8.46 | $8.11 | $8.51 |
| Diluted shares | 58M | 58M | 59M | 58M | 58M | 59M | 58M | 58M | 58M | 57M |
| Gross margin | 54.9% | 55.1% | 54.8% | 54.3% | 53.3% | 56.1% | 55.1% | 54.2% | 55.2% | 55.2% |
| Operating margin | 21.5% | 22.6% | 22.3% | 22.0% | 16.5% | 26.0% | 27.1% | 25.6% | 25.1% | 25.5% |
| Net margin | 15.0% | 14.3% | 16.7% | 15.4% | 11.8% | 19.2% | 19.8% | 18.5% | 17.4% | 17.4% |
Balance sheet
Fiscal years, from Nordson's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $67M | $90M | $96M | $151M | $208M | $300M | $163M | $116M | $116M | $108M |
| Receivables | $429M | $505M | $491M | $531M | $472M | $489M | $537M | $591M | $595M | $588M |
| Inventory | $220M | $264M | $264M | $283M | $277M | $327M | $383M | $455M | $477M | $445M |
| Total current assets | $746M | $888M | $884M | $1.0B | $1.0B | $1.2B | $1.1B | $1.2B | $1.3B | $1.2B |
| Property, plant and equipment | $273M | $346M | $387M | $399M | $359M | $356M | $353M | $393M | $545M | $517M |
| Goodwill | $1.1B | $1.6B | $1.6B | $1.6B | $1.7B | $1.7B | $1.8B | $2.8B | $3.3B | $3.3B |
| Total assets | $2.4B | $3.4B | $3.4B | $3.5B | $3.7B | $3.8B | $3.8B | $5.3B | $6.0B | $5.9B |
| Total current liabilities | $332M | $648M | $350M | $478M | $363M | $445M | $834M | $582M | $528M | $758M |
| Long-term debt | $943M | $1.3B | $1.3B | $1.1B | $1.1B | $782M | $345M | $1.6B | $2.1B | $1.7B |
| Total liabilities | $1.6B | $2.3B | $2.0B | $1.9B | $1.9B | $1.6B | $1.5B | $2.7B | $3.1B | $2.9B |
| Shareholders' equity | $852M | $1.2B | $1.5B | $1.6B | $1.8B | $2.2B | $2.3B | $2.6B | $2.9B | $3.0B |
| Net debt | $914M | $1.5B | $1.2B | $1.1B | $898M | $516M | $574M | $1.6B | $2.1B | $1.9B |
Cash flow
Fiscal years, from Nordson's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $335M | $357M | $505M | $383M | $502M | $546M | $513M | $641M | $556M | $719M |
| Capital spending | $61M | $72M | $90M | $64M | $51M | $38M | $51M | $35M | $64M | $58M |
| Free cash flow | $274M | $285M | $415M | $319M | $452M | $508M | $462M | $607M | $492M | $661M |
| Stock-based compensation | $18M | $20M | $22M | $18M | $13M | $23M | $31M | $23M | $19M | $19M |
| Dividends paid | $56M | $64M | $72M | $82M | $88M | $98M | $126M | $150M | $161M | $179M |
| Share buybacks (net) | -$33M | -$3M | -$24M | -$121M | -$53M | -$61M | -$263M | -$90M | -$33M | -$306M |
| Net borrowing | -$132M | $604M | -$269M | -$68M | -$154M | -$289M | -$34M | $976M | $464M | -$224M |
| Free cash flow margin | 15.1% | 13.8% | 18.4% | 14.5% | 21.3% | 21.5% | 17.8% | 23.1% | 18.3% | 23.7% |
| Dividends per share | $0.98 | $1.10 | $1.23 | $1.41 | $1.51 | $1.66 | $2.16 | $2.61 | $2.80 | $3.15 |
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Open NDSN in InvestinglyQuestions
What was Nordson's revenue in 2025?
$2.8B in fiscal 2025, from its 10-K filing.
How much free cash flow does Nordson generate?
$661M in fiscal 2025 (operating cash flow minus capital spending).
From Nordson's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.