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Nordson Corp

NDSN

General Industrial Machinery & Equipment, NEC

Mkt Cap

$15.05B

PE

30.87

Debt

$1.865B

Cash

$115.7M

EV

$16.8B

FCF

$606.7M

Market Cap

$15.05B

P/E Ratio

30.87

Debt

$1.865B

Cash

$115.7M

EV

$16.8B

FCF

$606.7M
Charts data: {"Earnings":[{"time":"2014-10-30","value":246773000},{"time":"2015-10-30","value":211111000},{"time":"2016-10-30","value":271843000},{"time":"2017-10-30","value":295802000},{"time":"2018-10-30","value":377375000},{"time":"2019-10-30","value":337091000},{"time":"2020-10-30","value":249539000},{"time":"2021-10-30","value":454368000},{"time":"2022-10-30","value":513103000},{"time":"2023-10-30","value":487493000}],"Sales":[{"time":"2014-10-30","value":1704021000},{"time":"2015-10-30","value":1688666000},{"time":"2016-10-30","value":1808994000},{"time":"2017-10-30","value":2066982000},{"time":"2018-10-30","value":2254668000},{"time":"2019-10-30","value":2194226000},{"time":"2020-10-30","value":2121100000},{"time":"2021-10-30","value":2362209000},{"time":"2022-10-30","value":2590278000},{"time":"2023-10-30","value":2628632000}],"Net Margins":[{"time":"2014-10-30","value":0.14481805095125003},{"time":"2015-10-30","value":0.12501643308978802},{"time":"2016-10-30","value":0.15027302467559317},{"time":"2017-10-30","value":0.14310816446393823},{"time":"2018-10-30","value":0.16737497494087822},{"time":"2019-10-30","value":0.15362638123876027},{"time":"2020-10-30","value":0.11764603271887228},{"time":"2021-10-30","value":0.19234877184872295},{"time":"2022-10-30","value":0.19808800445357602},{"time":"2023-10-30","value":0.1854550199495403}],"Assets":[{"time":"2014-10-30","value":2280130000},{"time":"2015-10-30","value":2360444000},{"time":"2016-10-30","value":2422365000},{"time":"2017-10-30","value":3414539000},{"time":"2018-10-30","value":3421012000},{"time":"2019-10-30","value":3516447000},{"time":"2020-10-30","value":3674656000},{"time":"2021-10-30","value":3790961000},{"time":"2022-10-30","value":3820375000},{"time":"2023-10-30","value":5251770000}],"Stockholders Equity":[{"time":"2014-10-30","value":904797000},{"time":"2015-10-30","value":660016000},{"time":"2016-10-30","value":851603000},{"time":"2017-10-30","value":1155493000},{"time":"2018-10-30","value":1450741000},{"time":"2019-10-30","value":1581045000},{"time":"2020-10-30","value":1758991000},{"time":"2021-10-30","value":2159130000},{"time":"2022-10-30","value":2294375000},{"time":"2023-10-30","value":2598060000}],"ROE":[{"time":"2014-10-30","value":0.27273852587928565},{"time":"2015-10-30","value":0.31985739739642677},{"time":"2016-10-30","value":0.3192132953970336},{"time":"2017-10-30","value":0.2559963582643945},{"time":"2018-10-30","value":0.2601256874934947},{"time":"2019-10-30","value":0.21320772021036719},{"time":"2020-10-30","value":0.14186485320277364},{"time":"2021-10-30","value":0.21044031623848494},{"time":"2022-10-30","value":0.2236351947698175},{"time":"2023-10-30","value":0.18763731399582764}],"ROA":[{"time":"2014-10-30","value":0.1611960721537807},{"time":"2015-10-30","value":0.1346060317465697},{"time":"2016-10-30","value":0.16035197007882793},{"time":"2017-10-30","value":0.13404503506915574},{"time":"2018-10-30","value":0.14456453236644595},{"time":"2019-10-30","value":0.13738668604986795},{"time":"2020-10-30","value":0.0951231897625247},{"time":"2021-10-30","value":0.1622614951723323},{"time":"2022-10-30","value":0.1838458266531427},{"time":"2023-10-30","value":0.12810176378630442}]}

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions (IPS); Medical and Fluid Solutions; and Advanced Technology Solutions (ATS). The IPS segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems used in packaged goods industries; components and systems used in the thermoplastic and biopolymer melt stream; and product assembly systems for use in paper and paperboard converting applications, and manufacturing roll goods, as well as for the assembly of plastic, metal, and wood products. It also offers automated and manual dispensing products and systems for cold materials, container coating, liquid finishing, and powder coating, as well as ultraviolet equipment used primarily in curing and drying operations. The Medical and Fluid Solutions segment offers medical devices, including cannulas, catheters, and medical balloons; single-use plastic components; precision manual and semi-automated dispensers; minimally invasive interventional delivery devices; and plastic molded syringes, cartridges, tips, and fluid connection components. The ATS segment provides automated dispensing systems for the attachment, protection, and coating of fluids, as well as related gas plasma treatment systems for cleaning and conditioning surfaces; and bond testing and automated optical, acoustic microscopy, and x-ray inspection systems for use in semiconductor and printed circuit board industries. The company markets its products through direct sales force, as well as distributors and sales representatives. Nordson Corporation was founded in 1909 and is headquartered in Westlake, Ohio.

Sector

  • ESAB Logo

    ESAB

Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$606.7M$681.4M$759.8M$841M$924M$1.008B$1.091B$1.172B$1.25B$1.322B$1.388B$13.88B
DCF$592.5M$574.5M$552.9M$528.3M$501M$471.6M$440.6M$408.5M$375.9M$343.2M$3.432B
Value$8.221B

In the chart Earnings are multiplied by this value.

Earnings Growth 9.7%
Earnings Stability 74%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years10-201510-201610-201710-201810-201910-202010-202110-202210-2023TTM
Net Margin13%15%14%17%15%12%19%20%19%19%
ROA13%16%13%14%14%9.5%16%18%13%13%
ROE32%32%26%26%21%14%21%22%19%19%

What is the average Net Margin?

The average Net Margin over the past 5 years is +16.91%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.85%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +14.19%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.35%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +20.62%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -0.75%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years10-201510-201610-201710-201810-201910-202010-202110-202210-2023TTM
Debt FCF5.703.736.713.254.452.541.682.453.073.07
Debt Equity1.721.201.660.930.900.650.390.490.720.72
MIN
Graham Stability--100%100%100%74%100%100%100%74%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 3.07.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -0.22.

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.74.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years10-201610-201810-202010-2022Trend
Revenue5.5%3.1%7.4%1.5%-0.018%
Net Income8.7%5.3%25%-5%1.4%
Stockholders Equity17%12%14%13%0.88%
FCF12%7.9%10%31%1.2%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +3.12%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.02%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +5.25%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is +1.39%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +12.36%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +0.88%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +7.9%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +1.22%.