Nordson Corporation (NDSN) · Q2 2026 results and valuation

At 2.5% growth a year (3-year revenue growth), the model's fair value is $133.50 a share — the stock trades 147% above it. Today's price assumes 13.3% growth a year.

1. Guidance

   Full-year tax rate expected near 18%, consistent with ongoing expectations.

   Source quote

   “For the full year, we expect our tax rate to be near 18%, which is also reflective of our ongoing rate expectations.”

2. Fading

   Organic sales increased 8% in the quarter as Medical and Fluid Solutions sales reached a record $213 million, representing a 5% increase over the prior year's second quarter.

   Source quote

   “Organic sales increased 8% in the quarter, driven by contributions from both our Engineered Fluid Solutions and our medical product... You'll see Medical and Fluid Solutions sales of $213 million, also a second quarter record, increased 5% compared to the prior year second quarter. We're pleased to see solid growth in our medical product lines following a slower start to the year.”

Management was more positive answering analysts than in its script — usually a sign it was comfortable with the details it was asked about.

Sentences that drove the tone

“Adjusted operating profit increased 13% year-over-year to a record $226 million or 28% of sales, driven by increased leverage on the strong organic sales growth across the segments.”

“Our decentralized divisions use this framework to focus on the best market growth opportunities, top products and customers to deliver above-market organic growth.”

“Solid execution and volume leverage drove record profit performance for the quarter, delivering EBITDA of $262 million, which was an all-time record and 32% of sales.”