CluenexNordson NDSN
Nordson scores good on business quality (6.0 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What Nordson does
Nordson designs and manufactures precision dispensing equipment that applies adhesives, coatings, and sealants. Manufacturers across electronics, medical, and industrial end markets pay for these proprietary systems to automate critical production lines. The company is leaning into specialized precision tech acquisitions and product enhancements to drive future unit volumes higher across global industrial markets.
- What it does best
Nordson dominates high-precision dispensing technology, printing a gross margin of 55.3% that outpaces industrial peers like Xylence and Dover. This edge comes from bespoke engineered dispensing tips and deep customer integration that make switching to rival equipment too risky for delicate manufacturing lines.
- The main risk
Net debt sits at $1.9 billion against total debt of $2.0 billion, which creates financial friction if industrial demand softens further. With interest coverage at 8.8x, debt servicing remains manageable but leaves little room for operational missteps during downturns.
Quality, check by check
Scored against its own industry, from company filings.
Operating margins hit 26.9% and free cash flow margins rank in the sector's top decile at 95%, showing strong scaling power as revenue increases.
Proprietary dispensing equipment locks in industrial and electronics manufacturers, securing an operating margin sitting in the top decile of its sector at 94%.
Revenue grew 3.8% to $2.9 billion, marking a slow growth pace that reflects modest expansion compared to historical cycles.
Total debt of $2.0 billion is cushioned by $724 million in free cash flow generation, keeping the balance sheet at a mixed financial footing.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
4 sold $793K outside pre-planned sales.
Our sealed record on NDSN
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
Nordson scores good on the Cluenex quality check (6.0 of 10), measured against its own industry. Profitability is strong, moat fair, growth slow and financial health fair.
In the last 90 days of SEC Form 4 filings: 4 sold $793K outside pre-planned sales.
Dec 8, 2026, after the close.
See NDSN today
- Today's verdict on NDSN, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “Nordson (NDSN)”, https://cluenex.com/stocks/ndsn/, data as of Oct 10, 2026.