Nordson Corporation (NDSN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-40.1%

$196.29

vs $327.66 price

Levered DCF

$222.12

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

6.3

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	27.1×	30.34×	24.89×	25.28×	33.09×	44.78×	26.71×	18.84×
P/B	4.31×	4.87×	4.67×	5.65×	6.96×	6.35×	5.7×	4.9×
P/S	4.7×	5.31×	4.62×	5.01×	6.36×	5.27×	4.11×	3.15×
EV / EBITDA	17.87×	20.44×	17.76×	17.83×	22.43×	27.57×	17.19×	13.76×
Gross margin	55.2%	55.2%	54.2%	55.1%	56.1%	53.3%	54.3%	54.8%
Operating margin	25.9%	25.1%	25.6%	27.1%	26.0%	16.5%	22.0%	22.3%
Net margin	17.4%	17.4%	18.5%	19.8%	19.2%	11.8%	15.4%	16.7%
Current ratio	1.64×	2.41×	2.11×	1.36×	2.62×	2.81×	2.12×	2.52×
Debt / equity	0.71×	0.82×	0.75×	0.41×	0.49×	0.77×	0.8×	0.92×
Interest coverage	7.16×	7.58×	11.31×	31.34×	24.13×	10.87×	10.25×	10.14×
Dividend yield	1.4%	1.1%	1.2%	1.0%	0.6%	0.8%	0.9%	1.0%
Payout ratio	37.0%	34.5%	30.8%	24.5%	21.5%	35.4%	24.4%	19.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.9%	15.9%	18.8%	22.4%	21.0%	14.2%	21.3%	26.0%
Return on invested capital	10.7%	9.6%	11.1%	16.3%	14.3%	8.6%	11.8%	13.6%
Return on assets	8.2%	7.8%	9.3%	13.4%	12.0%	6.8%	9.6%	11.0%
Free cash flow yield	5.0%	3.4%	5.0%	3.6%	3.4%	4.0%	3.5%	5.8%
Earnings yield	3.7%	3.3%	4.0%	4.0%	3.0%	2.2%	3.7%	5.3%
Enterprise value	$15.2B	$16.6B	$14B	$13.8B	$15.8B	$12.3B	$10.1B	$8.3B
Net debt / EBITDA	2.41×	2.82×	2.34×	1.02×	1.06×	2.57×	1.88×	2.03×
Cash conversion cycle (days)	171	196	188	165	158	157	161	144