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Nordson Corporation

NDSNActive

CIK 72331 · Diversified Industrial Compounders

N/A

Market data as of N/A

Financials: LTM / latest available company filings

Sources: FMP, NDSN filings, SEC EDGAR

$15,816

Market cap ($MM)

$17,837

Enterprise value ($MM)

$2,846

Revenue · LTM ($MM)

$914

EBITDA · LTM ($MM)

32%

EBITDA margin

6.3x

EV / revenue

19.5x

EV / EBITDA

2.0x

Net debt / EBITDA

Coverage

Coverage view

The analytical read on the name and the balance-sheet capacity behind the program.

Key points

  1. 01NDSN is a scaled public consolidator in Industrial Compounders, a benchmark for how the sub-sector buys, pays, and trades.
  2. 02The relevant peer set is ROP, DHR, HEI, EMR, TDG, AME.

Balance sheet & capacity

Indicative capacity read: 2.0x net debt / EBITDA with EBITDA of $914MM.

$120

Cash & equiv. ($MM)

$1,984

Total debt ($MM)

$1,864

Net debt ($MM)

2.0x

Net debt / EBITDA

Valuation

Where it trades against its peer set

NDSN versus the scaled public Diversified Industrial Compounders comparables.

Indexed share-price performance

NDSN versus available Diversified Industrial Compounders peers and SPY.

+30%

NDSN

N/A

Peer med.

+79%

SPY

19013274May 21Nov 23May 26NDSNpeer medianSPY

Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.

CompanyTickerRevenue ($MM)EBITDA ($MM)MarginMarket cap ($MM)EV ($MM)EV / revEV / EBITDANet debt / EBITDA
Nordson CorporationNDSN$2,846$91432%$15,816$17,8376.3x19.5x2.0x

Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.

M&A program

A sustained, programmatic tuck-in cadence

NDSN's disclosed acquisition footprint and the deals behind it.

Disclosed acquisitions

102

Active years

17

Named deals

2

Avg / active year

6.0

Acq. cash outflow ($MM)

N/A

Banker read

  • 01NDSN reads as a programmatic acquirer: 102 disclosed acquisitions across 17 active years, or 6.0 per active year. The chart shows activity in 11 of the last 12 visible years.
  • 02In the last three years, the file shows 2 acquisitions versus 5 in the prior three; recent activity has cooled versus the prior three-year period.
  • 03Spend changes the read: $5.1B of disclosed spend is concentrated in lumpy years, with FY23 the largest year at $1.4B. Recent spend is above the prior three-year period.

Annual acquisitions + disclosed spend

count spend named deal
4 deals$1.4B131415161718192022232425

NDSN count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.

Program diagnostics

Recent / prior

2 / 5

Last three years is down 60% vs prior three.

Peak count year

FY17

4 disclosed acquisitions in the peak visible year.

Recent spend

$3.0B

is up 820% vs prior three; peak FY23 at $1.4B.

Named evidence

2 rows

2.0% selected source-cited transaction coverage.

Selected transactions

DateTargetSegmentConsideration ($MM)Strategic rationaleSource
Mar 31, 2017Vention Medical’s Advanced Technologies businessDiversified industrial compounders$705On March 31, 2017, we completed the acquisition of Vention Medical’s Advanced Technologies business (“Vention”), a Salem, New Hampshire leading designer, developer and manufactu...10-K
Dec 14, 2006Dage Holdings LimitedDiversified industrial compounders$230On December 14, 2006, the Company announced that it had acquired Dage Holdings Limited, a leading manufacturer of testing and inspection equipment used in the semiconductor and...10-K

Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 4 SEC-backed facts across 2 cited filings.

Evidence

Source archive

A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.

Annual 10-Ks

17

Named deal filings

2

Recent SEC filings

0

Evidence clips

2

Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.17 rows+
Fiscal yearFiling dateFormStatusCountCash spendPurchase considerationSource
FY2025Dec 17, 2025Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2024Dec 18, 2024Annual M&A 10-Kaccepted1$790MM$790MMSEC filing
FY2023Dec 20, 2023Annual M&A 10-Kquarantined (2 issue)1$1,423B$1,423BSEC filing
FY2019Dec 13, 2019Annual M&A 10-Kwarning (1 warn)1$12.5MMN/ASEC filing
FY2017Dec 15, 2017Annual M&A 10-Kaccepted4N/A$90.7MMSEC filing
FY2016Dec 15, 2016Annual M&A 10-Kaccepted1$42.7MM$42.7MMSEC filing
FY2015Dec 15, 2015Annual M&A 10-Kquarantined (1 warn, 1 issue)3N/A$76BSEC filing
FY2014Dec 15, 2014Annual M&A 10-Kaccepted2$187MM$186MMSEC filing
FY2012Dec 17, 2012Annual M&A 10-Kaccepted3N/A$444MMSEC filing
FY2011Dec 16, 2011Annual M&A 10-Kaccepted3$293MM$348MMSEC filing
FY2010Dec 17, 2010Annual M&A 10-Kaccepted1$18.6MM$22.0MMSEC filing
FY2009Dec 18, 2009Annual M&A 10-KacceptedN/AN/AN/ASEC filing
FY2007Dec 21, 2007Annual M&A 10-Kaccepted3$98B$330BSEC filing
FY2006Jan 12, 2007Annual M&A 10-Kaccepted1N/AN/ASEC filing
FY2005Jan 13, 2006Annual M&A 10-Kaccepted1$0.6MM$0.6MMSEC filing
FY2004Jan 14, 2005Annual M&A 10-Kaccepted1$4.0MM$4.5MMSEC filing
FY2003Jan 21, 2004Annual M&A 10-Kwarning (1 warn)1$0.5MMN/ASEC filing
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.2 rows+
Filing dateFormTargets / topicsSupportSource
Dec 15, 201710-KVention Medical’s Advanced Technologies businessAnnual M&ANamed dealsSEC filing
Jan 12, 200710-KDage Holdings LimitedAnnual M&ANamed dealsSEC filing
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.2 rows+

Vention Medical’s Advanced Technologies business

10-K - Dec 15, 2017

Medium

On March 31, 2017, we completed the acquisition of Vention Medical’s Advanced Technologies business (“Vention”), a Salem, New Hampshire leading designer, developer and manufacturer of minimally inv...

Dage Holdings Limited

10-K - Jan 12, 2007

Medium

On December 14, 2006, the Company announced that it had acquired Dage Holdings Limited, a leading manufacturer of testing and inspection equipment used in the semiconductor and printed circuit boar...

Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.

Prepared from SEC EDGAR public filingsNDSN · CIK 72331Source-backed coverage research, not investment advice