Nordson Corporation (NDSN): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage complexe de la technologie industrielle, Nordson Corporation apparaît comme une puissance de précision, transformant des défis de fabrication complexes en solutions innovantes dans plusieurs secteurs. Avec un modèle commercial stratégique qui mélange l'ingénierie de pointe, la portée mondiale et l'expertise technologique spécialisée, Nordson a sculpté un créneau unique pour fournir des technologies de distribution et de revêtement à haute performance qui stimulent l'efficacité et l'innovation pour les secteurs de l'électronique, de l'automobile, de l'automobile et des semi-conducteurs . Cette exploration de la toile du modèle commercial de Nordson révèle les mécanismes sophistiqués de leur succès mondial, offrant un aperçu de la façon dont une entreprise technologique ciblée peut créer une valeur extraordinaire dans l'écosystème industriel compétitif d'aujourd'hui.

Nordson Corporation (NDSN) - Modèle d'entreprise: partenariats clés

Fournisseurs stratégiques de composants de fabrication de précision

Nordson Corporation maintient des partenariats stratégiques avec les fournisseurs de composants de précision, en se concentrant sur les matériaux et les technologies de fabrication à haute performance.

Catégorie des fournisseurs	Nombre de partenariats stratégiques	Valeur d'achat annuelle
Fournisseurs d'usinage de précision	17	42,6 millions de dollars
Fournisseurs de matériaux avancés	12	28,3 millions de dollars
Fabricants de composants électroniques	9	35,7 millions de dollars

Fabricants d'équipements d'origine dans les industries électroniques et médicales

Nordson collabore avec les principaux OEM dans les segments spécialisés de l'industrie.

• Electronics Manufacturing OEMS: 24 partenariats stratégiques
• OEM de fabrication de dispositifs médicaux: 16 partenariats stratégiques
• Revenus de partenariat OEM total: 187,4 millions de dollars en 2023

Collaborateurs de recherche et développement technologique

Type de partenaire de recherche	Nombre de partenariats	Investissement annuel de R&D
Centres de recherche universitaires	8	6,2 millions de dollars
Consortiums de l'innovation technologique	5	4,7 millions de dollars
Réseaux de recherche sur les matériaux avancés	6	5,9 millions de dollars

Partenaires mondiaux de la distribution et du réseau de vente

Nordson maintient de vastes partenariats de distribution mondiaux dans plusieurs régions.

• Partenaires totaux de distribution mondiale: 127
• Couverture géographique: 38 pays
• Revenus de distribution internationaux: 213,6 millions de dollars en 2023

Institutions de recherche universitaire et technique

Type d'institution	Nombre de partenariats	Focus de recherche collaborative
Universités d'ingénierie	12	Technologies de fabrication avancées
Centres de recherche technique	7	Science et innovation des matériaux
Laboratoires de recherche appliqués	5	Solutions d'ingénierie de précision

Nordson Corporation (NDSN) - Modèle d'entreprise: activités clés

Développement avancé de dispensation et de technologie de revêtement

Nordson a investi 95,8 millions de dollars dans les frais de recherche et de développement au cours de l'exercice 2023. La société maintient 14 centres d'innovation mondiaux axés sur le développement des technologies de pointe.

Investissement en R&D	Centres d'innovation	Portefeuille de brevets
95,8 millions de dollars (2023)	14 emplacements mondiaux	Plus de 1 200 brevets actifs

Fabrication d'équipements industriels spécialisés

Nordson exploite 37 installations de fabrication dans 26 pays, produisant des équipements industriels spécialisés.

• Installations de fabrication: 37
• Pays ayant une présence manufacturière: 26
• Segments de fabrication primaires: dispensation adhésive, technologie de pointe et systèmes de revêtement industriel

Conception de produits et innovation d'ingénierie

L'entreprise emploie environ 1 200 ingénieurs dédiés à la conception des produits et à l'innovation technologique.

Travail d'ingénierie	Cycle de développement des produits	Taux d'introduction du nouveau produit
1 200 ingénieurs	12-18 mois moyenne	8-10 nouveaux produits par an

Services mondiaux de vente et de support client

Nordson entretient des opérations de vente et de soutien dans plus de 35 pays, desservant divers marchés industriels.

• Couverture des ventes: 35+ pays
• Centres de support client: 24
• Équipe de vente mondiale: environ 2 500 professionnels

Recherche technologique continue et amélioration

Nordson alloue 4,5% des revenus annuels aux initiatives continues de recherche technologique et d'amélioration.

Pourcentage de R&D	Investissement technologique	Domaines d'investissement
4,5% des revenus	95,8 millions de dollars (2023)	Technologies de précision, matériaux avancés, automatisation

Nordson Corporation (NDSN) - Modèle d'entreprise: Ressources clés

Portfolio de propriété intellectuelle étendue

En 2024, Nordson Corporation détient 1 287 brevets actifs dans le monde. Distribution de brevet par segment:

Segment d'entreprise	Nombre de brevets
Systèmes de technologie avancée	523
Équipement de distribution de précision	412
Systèmes de revêtement industriel	352

Talent d'ingénierie spécialisé et expertise technique

Total de main-d'œuvre: 7 850 employés dans le monde. Composition de la main-d'œuvre:

• Professionnels d'ingénierie: 2 315
• Spécialistes de la R&D: 687
• Personnel de soutien technique: 1 043

Installations de fabrication avancées dans le monde

Empreinte de fabrication:

Région	Nombre d'installations
Amérique du Nord	12
Europe	8
Asie-Pacifique	7
l'Amérique latine	3

Infrastructure de recherche et développement sophistiquée

Investissement en R&D pour l'exercice 2023: 184,6 millions de dollars, ce qui représente 4,7% des revenus totaux.

• Centres de R&D: 6 emplacements mondiaux
• Demandes de brevets annuelles: 87

Capital financier solide pour les investissements stratégiques

Mesures financières auprès du quatrième trimestre 2023:

Métrique financière	Montant
Actif total	3,92 milliards de dollars
Equivalents en espèces et en espèces	412,5 millions de dollars
Dette totale	896,3 millions de dollars
Capitaux propres des actionnaires	2,14 milliards de dollars

Nordson Corporation (NDSN) - Modèle d'entreprise: propositions de valeur

Solutions technologiques de haute précision pour des applications industrielles complexes

Nordson Corporation fournit des solutions technologiques avancées avec les mesures de précision suivantes:

Catégorie de technologie	Niveau de précision	Investissement annuel
Dispensation de précision	± 0,001 mm Précision	87,3 millions de dollars R&D
Revêtement avancé	Couverture de surface à 99,97%	63,5 millions de dollars de développement d'équipement

Équipement de distribution et de revêtement personnalisé

Nordson propose un équipement spécialisé avec les capacités de personnalisation suivantes:

• Adaptabilité de conception modulaire
• Options de configuration spécifiques à l'industrie
• Solutions d'ingénierie spécifiques au client

Productivité et efficacité améliorées pour les processus de fabrication

Métriques de performance pour les améliorations de l'efficacité de la fabrication:

Métrique d'efficacité	Pourcentage d'amélioration	Impact client
Vitesse de production	Augmentation de 35 à 45%	Temps de cycle de fabrication réduit
Utilisation des matériaux	Optimisation de 22 à 30%	Baisse des déchets et réduction des coûts

Solutions innovantes dans plusieurs secteurs industriels

Les solutions technologiques de Nordson couvrent plusieurs domaines industriels:

• Fabrication d'électronique
• Production de dispositifs médicaux
• Composants automobiles
• Industrie de l'emballage

Performance de produit fiable et technologiquement avancé

Métriques de fiabilité des performances:

Fiabilité des produits	Le temps moyen entre les échecs	Couverture de garantie
Systèmes de distribution avancés	12 500 heures d'opération	Garantie complète de 3 ans
Équipement de revêtement de précision	10 200 heures d'opération	Support technique de 2 ans

Nordson Corporation (NDSN) - Modèle d'entreprise: relations clients

Support technique à long terme et consultation

Nordson Corporation fournit un support technique complet avec un temps de réponse moyen de 2,7 heures pour les demandes critiques des clients. La société maintient 37 centres mondiaux de support client dans 16 pays.

Métrique de soutien	Performance annuelle
Interactions totales de soutien	42,563
Temps de résolution moyen	3,2 heures
Taux de satisfaction client	94.6%

Équipes de service client dédiées

Nordson emploie 276 professionnels du service à la clientèle dévoués spécialisés dans différents segments industriels.

• Équipes spécialisées pour les dispositifs médicaux
• Support dédié à la fabrication d'électronique
• Experts en solutions de revêtement industrielles

Aide à la formation et à la mise en œuvre en cours

La société organise 287 sessions de formation annuelles dans des emplacements mondiaux, avec 4 523 clients recevant un support direct de mise en œuvre des produits en 2023.

Catégorie de formation	Nombre de sessions	Participants
Webinaires en ligne	124	2,356
Formation sur place	163	2,167

Solutions d'ingénierie collaborative

Nordson investit 62,4 millions de dollars par an dans la recherche en génie collaboratif, travaillant directement avec 412 clients stratégiques pour développer des solutions personnalisées.

Réseaux de support technique réactifs

La société maintient un réseau de support technique 24/7 avec un taux de résolution moyen de premier contact de 87,3%.

Soutenir la métrique du réseau	Données de performance
Canaux de soutien mondiaux	6 (téléphone, e-mail, chat, portail Web, application mobile, sur place)
Temps de réponse moyen	47 minutes
Volume de soutien annuel	38 912 demandes techniques

Nordson Corporation (NDSN) - Modèle d'entreprise: canaux

Force de vente directe

Nordson Corporation emploie une équipe de vente directe mondiale de 2 200 professionnels de la vente dans plusieurs régions. La force de vente fonctionne dans 35 pays, couvrant les principaux marchés industriels.

Région de vente	Nombre de représentants commerciaux	Zone de couverture
Amérique du Nord	850	États-Unis et Canada
Europe	480	Union européenne et Royaume-Uni
Asie-Pacifique	520	Chine, Japon, Corée du Sud, Inde
Reste du monde	350	Amérique latine, Moyen-Orient, Afrique

Salons et expositions commerciales industrielles

Nordson participe à environ 45 à 50 salons industriels majeurs chaque année, avec un budget d'exposition moyen de 3,2 millions de dollars.

• Les principaux salons commerciaux incluent K Foire commerciale (Allemagne)
• Pack Expo International
• Semicon ouest
• Expo mondial de fabrication et d'approvisionnement

Catalogues de produits en ligne et documentation technique

Nordson maintient une plate-forme numérique complète avec plus de 12 000 documents de produits techniques. Le site Web de l'entreprise reçoit 1,2 million de visiteurs uniques par an.

Ressource numérique	Total des documents	Trafic annuel sur le site Web
Catalogues de produits en ligne	4,500	1 200 000 visiteurs uniques
Feuilles de spécification technique	5,800	850 000 téléchargements de documents

Réseaux de distributeurs autorisés

Nordson collabore avec 287 distributeurs autorisés dans le monde, représentant 425 millions de dollars de ventes annuelles de canaux.

Région du distributeur	Nombre de distributeurs	Ventes annuelles des canaux
Amérique du Nord	95	165 millions de dollars
Europe	78	112 millions de dollars
Asie-Pacifique	64	98 millions de dollars
Reste du monde	50	50 millions de dollars

Plateformes de marketing numérique et de communication technique

Nordson investit 7,5 millions de dollars par an dans le marketing numérique, avec une stratégie numérique multicanal.

• LinkedIn adepte: 68 000
• Twitter abonnés: 12 500
• Abonnés de la chaîne YouTube: 22 000
• Budget annuel du marketing numérique: 7,5 millions de dollars

Nordson Corporation (NDSN) - Modèle d'entreprise: segments de clientèle

Entreprises de fabrication d'électronique

Nordson sert des fabricants d'électronique avec des technologies de distribution, de revêtement et de test de précision.

Métriques du segment	2023 données
Revenus électroniques totaux	1,02 milliard de dollars
Part de marché dans l'équipement électronique	15.7%
Clients mondiaux de la fabrication d'électronique	487 entreprises

Fabricants d'appareils médicaux

Nordson fournit un équipement spécialisé pour la production et l'assemblage des dispositifs médicaux.

Métriques du segment	2023 données
Revenus de segment médical	612 millions de dollars
Nombre de comptes clients de dispositifs médicaux	276 fabricants
Pénétration du marché des équipements médicaux	12.3%

Producteurs de composants automobiles

Nordson prend en charge les constructeurs automobiles avec des technologies de fabrication avancées.

Métriques du segment	2023 données
Revenus du segment automobile	524 millions de dollars
Base de clients automobiles mondiaux	213 fabricants
Part de l'équipement du marché automobile	8.6%

Industries des emballages et des biens de consommation

Nordson fournit des solutions d'emballage avancées pour divers fabricants de biens de consommation.

Métriques du segment	2023 données
Revenus de segment d'emballage	789 millions de dollars
Clients d'emballage mondial	412 entreprises
Part de marché de l'équipement d'emballage	11.2%

Sociétés semi-conducteurs et technologies avancées

Nordson fournit un équipement spécialisé pour les processus de fabrication de semi-conducteurs.

Métriques du segment	2023 données
Revenus de segments de semi-conducteurs	876 millions de dollars
Comptes clients semi-conducteurs	164 entreprises
Pénétration du marché des équipements de semi-conducteurs	9.5%

Insignes clés du segment de la clientèle

• Base de clients totale du segment transversal: 1 532 fabricants mondiaux
• Revenu total du segment: 3,804 milliards de dollars
• Taux de rétention de clientèle moyen: 87,3%

Nordson Corporation (NDSN) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Au cours de l'exercice 2023, Nordson Corporation a investi 128,4 millions de dollars dans les frais de recherche et de développement, ce qui représente 4,7% des revenus totaux.

Exercice fiscal	Investissement en R&D	Pourcentage de revenus
2023	128,4 millions de dollars	4.7%
2022	119,6 millions de dollars	4.5%

Opérations de fabrication mondiales

Nordson exploite 37 installations de fabrication dans 16 pays, avec des frais généraux de fabrication totaux de 342,6 millions de dollars en 2023.

• Emplacements de fabrication: Amérique du Nord, Europe, Asie-Pacifique
• Installations de fabrication totale: 37
• Frais de fabrication des frais généraux: 342,6 millions de dollars

Dépenses de vente et de marketing

Les frais de vente et de marketing de Nordson Corporation au cours de l'exercice 2023 ont totalisé 356,2 millions de dollars, représentant 13,1% du chiffre d'affaires total.

Catégorie de dépenses	Montant	Pourcentage de revenus
Ventes et marketing	356,2 millions de dollars	13.1%

Acquisition et rétention techniques des talents

Les dépenses totales du personnel de Nordson en 2023 étaient de 789,3 millions de dollars, avec un ensemble moyen de rémunération des employés de 95 600 $.

• Total des employés: 8 260
• Total des dépenses du personnel: 789,3 millions de dollars
• Rémunération moyenne: 95 600 $ par employé

Maintenance des infrastructures technologiques

Les coûts de maintenance de la technologie et des infrastructures informatiques pour Nordson en 2023 étaient de 87,5 millions de dollars, ce qui représente 3,2% des revenus totaux.

Coût d'infrastructure	Montant	Pourcentage de revenus
Infrastructure technologique	87,5 millions de dollars	3.2%

Nordson Corporation (NDSN) - Modèle d'entreprise: Strots de revenus

Ventes d'équipements dans les secteurs industriels

Au cours de l'exercice 2023, Nordson Corporation a déclaré des ventes nettes totales de 2,603 ​​milliards de dollars. La répartition des revenus de la société par segment comprend:

Segment	Ventes nettes (millions de dollars)	Pourcentage
Systèmes de technologie avancée	$1,012	38.9%
Précision & Processus Technologies	$844	32.4%
Systèmes de revêtement industriel	$747	28.7%

Pièces de rechange et contrats de service

Nordson génère des revenus importants à partir des services de rechange, avec approximativement 25-30% des revenus totaux dérivé des pièces, des services de service et des contrats de maintenance.

• Valeur du contrat de service annuel moyen: 75 000 $ à 250 000 $
• Revenus de pièces de rechange estimées: 650 millions de dollars en 2023
• Taux de renouvellement des contrats de service: environ 85%

Licence et consultation technologiques

Les revenus des licences technologiques pour Nordson en 2023 étaient approximativement 45 millions de dollars, représentant 1,7% du total des revenus de l'entreprise.

Services de maintenance et de soutien continus

Type de service	Revenus annuels (millions de dollars)
Entretien de l'équipement	$215
Support technique	$95
Formation et consultation	$35

Monétisation du portefeuille de produits mondiaux

Distribution géographique des revenus pour l'exercice 2023:

• États-Unis: 1 248 millions de dollars (47,9%)
• Europe: 612 millions de dollars (23,5%)
• Asie-Pacifique: 521 millions de dollars (20,0%)
• Autres régions: 222 millions de dollars (8,6%)

Nordson Corporation (NDSN) - Canvas Business Model: Value Propositions

You're looking at the core value Nordson Corporation delivers to its customers, which is rooted in precision and operational improvement. This isn't just about selling equipment; it's about enabling better manufacturing outcomes. The company's foundation, tracing back to 1909, now centers on delivering high-precision dispensing for adhesives, coatings, and biomaterials across diverse applications, from consumer goods to advanced medical devices.

The value proposition is heavily weighted toward helping customers run leaner operations. This translates directly into improved operational efficiency and reduced material waste for customers. We see this reflected in the strong profitability achieved even when organic sales growth is uneven. For instance, in the third quarter of fiscal 2025, Nordson Corporation delivered an overall EBITDA of $239 million, representing 32% of total sales of $742 million for the quarter. This high margin performance, up 15% year-over-year for EBITDA, shows the operational leverage inherent in their model.

A key driver for this value is the focus on differentiated products in high-growth end markets like medical and electronics. The Advanced Technology Solutions segment, which serves electronics, demonstrated this focus clearly in the third quarter of fiscal 2025, posting an organic sales increase of 15%. The Medical and Fluid Solutions segment, even while managing a divestiture, showed underlying strength with organic sales increasing 4% when excluding the held-for-sale business. This focus on specialized, high-value areas supports the company's long-term Ascend strategy, which targets 6% to 8% revenue growth from 2025 through 2029.

Nordson Corporation emphasizes its commitment to best-in-class quality and delivery through NBS Next. Management specifically noted that NBS Next is driving organic growth by enhancing new product vitality, quality, and delivery. This operational focus is critical for maintaining customer trust, especially when equipment downtime is costly. The company's ability to secure future demand is also evident in its backlog management; after a challenging Q1 2025, backlog grew by approximately $85 million in that quarter, and then grew another approximately 5% from the prior quarter by the end of Q2 2025. This suggests customers are committing to future needs, relying on the promise of highly reliable equipment and critical spare parts availability.

Here's a snapshot of how the segments, which house these value-driving products, performed in the third quarter of fiscal 2025:

Segment	Sales (Millions USD)	Organic Sales Growth	EBITDA Margin (% of Sales)
Advanced Technology Solutions	$171	15%	24%
Medical and Fluid Solutions	$219	4% (Excluding divestiture)	38%
Industrial Precision Solutions	$351	-2%	37%

The company's commitment to returning value is long-standing; they have achieved 61 years of consecutive dividend increases. The TTM revenue as of late 2025 stood at $2.78 Billion USD. You can see the premium placed on their differentiated offerings when you compare the segment margins; the Advanced Technology Solutions segment achieved a 24% EBITDA margin, while the Industrial Precision Solutions segment hit 37% in the same quarter.

The value proposition is also supported by the execution of the Ascend strategy, which targets 10% to 12% adjusted EPS growth through 2029. For Q3 2025, adjusted earnings per diluted share hit $2.73, which was a 13% increase year-over-year. That's real value delivered.

Finance: draft the Q4 2025 cash flow projection incorporating the latest segment performance by end of day Tuesday.

Nordson Corporation (NDSN) - Canvas Business Model: Customer Relationships

You're looking to understand how Nordson Corporation keeps its customers locked in, which is key for any industrial tech firm. Honestly, their approach is built around deep technical partnership, not just transactional sales.

Dedicated direct sales model with application-specific expertise is the core here. Nordson Corporation doesn't just ship boxes; they sell precision application systems. This requires sales staff who deeply understand the customer's process, whether it's in medical device assembly or advanced electronics packaging. This expertise is critical for selling complex systems that require integration.

The company reinforces this through a close-to-the-customer, decentralized business model for responsiveness. Management specifically pointed to this model, along with an in-region, for-region manufacturing strategy, as a source of resilience, helping them deliver solid growth even in varying market scenarios. For instance, in the third quarter of fiscal year 2025, sales hit $742 million, showing this responsiveness in action.

For the high-value equipment, it's a high-touch, consultative sales process. You're not buying off the shelf; you're buying a solution. This consultative approach naturally leads to the next point: the long-term stickiness.

The long-term relationships are driven by recurring parts and consumables sales. Once a complex system is installed and validated in a customer's high-volume production line-say, a dispensing system for a new medical component-the customer is highly incentivized to keep buying the proprietary tips, valves, and fluid materials from Nordson Corporation to maintain performance and warranty. While I don't have the exact dollar figure for consumables revenue for fiscal year 2025, the entire business model hinges on this installed base driving aftermarket revenue.

To support this global customer base, Nordson Corporation maintains customer support and service in over 35 countries. This wide footprint ensures that when a critical piece of equipment needs service or calibration, the response is local, which is essential for customers whose production lines cannot afford downtime.

Here's a quick look at the financial context around the time these relationships are being managed, based on the latest reported figures for fiscal year 2025:

Metric	Value (as of late 2025)	Context
TTM Revenue (as of July 31, 2025)	$2.78 Billion USD	Total sales for the trailing twelve months.
FY 2025 Sales Guidance Range	$2,750 million to $2,870 million	Management's expectation for the full fiscal year.
Q3 FY2025 Net Income	$126 million	Profitability from the third quarter.
Quarterly Dividend (Q4 FY2025)	$0.82 per common share	Consistent return to shareholders.
Dividend Growth (Last 12 Months)	20.59%	Demonstrates commitment to growing shareholder returns.

The company is actively managing its capital structure, which indirectly supports the long-term view needed for these relationships. For example, Nordson Corporation spent $212 million on share buybacks in fiscal 2025 year-to-date, and the Board approved a new $500 million repurchase authorization.

The breadth of their service network is impressive, covering key regions:

• The Americas, including the United States, Canada, and Brazil.
• Europe, with offices in Germany, the United Kingdom, and France.
• Asia, with presence in China, Japan, and South Korea.

This global support structure is necessary because Nordson Corporation serves diverse end markets, including:

• Consumer non-durable.
• Medical.
• Electronics.
• Industrial markets.

If onboarding a new system takes too long, customer satisfaction drops fast. Finance: review Q4 service technician utilization rates by region by next Tuesday.

Nordson Corporation (NDSN) - Canvas Business Model: Channels

You're looking at how Nordson Corporation gets its precision technology solutions into the hands of its global customer base as of late 2025. The strategy relies heavily on direct engagement backed by a physical global footprint.

The company supports its engineered products with application expertise and direct global sales and service professionals. Nordson markets its products globally through this direct sales force and also via qualified distributors. This dual approach helps cover the wide range of end markets they serve, which include packaging, nonwovens, electronics, medical, and general product assembly. This structure is essential for a company with operations and support offices in more than 35 countries.

The manufacturing footprint is actively managed to align with regional demand and operational efficiency. For instance, by the end of April 2025, the Industrial Coatings Systems (ICS) manufacturing, assembly, and machining operations were moved to a new facility in Clinton, South Carolina, consolidating operations that had outgrown the Amherst, Ohio, location. Furthermore, in September 2025, Nordson Corporation sold its design and development contract manufacturing businesses located in Galway, Ireland, and Tecate, Mexico. These moves reflect a continuous refinement of the in-region, for-region manufacturing strategy.

The financial performance across these channels in the first three quarters of fiscal 2025 gives you a sense of the scale of operations moving through these routes. Total sales for the third quarter ended July 31, 2025, reached $742 million, up 12% year-over-year, which followed $683 million in Q2 and $615 million in Q1. The full-year sales guidance for fiscal 2025 was anticipated to be in the range of $2,750 to $2,870 million. That's a lot of equipment and consumables moving through their network.

Here's a look at the confirmed elements supporting the channel strategy:

• Direct sales force operating globally.
• In-region, for-region manufacturing and support facilities.
• Global network of field service engineers and technical support.
• E-commerce platforms for parts and consumables.

While the search results confirm the existence of these components, specific revenue breakdowns by channel or the exact count of service engineers aren't explicitly detailed for late 2025. However, we can map the confirmed global structure and recent financial context:

Channel Component	Scope/Activity Detail	Latest Relevant Financial Context (Q3 FY2025)
Direct Sales Force & Support	Supports products with application expertise; operates globally.	Total Sales: $742 million
In-Region Manufacturing	Footprint actively refined; ICS manufacturing moved to South Carolina by April 2025. Contract manufacturing divested in Ireland and Mexico in September 2025.	Organic Sales Growth: 2%
Global Service Network	Comprised of direct global sales and service professionals.	EBITDA Margin: 32% of sales (Q3 FY2025)
E-commerce Platforms	Used for parts and consumables (implied by product offering).	Backlog entering Q4 FY2025 was down approximately 5% sequentially from Q3.

The reliance on a direct sales force and service professionals suggests a high-touch model, which is typical for complex, high-value industrial equipment. The e-commerce component likely focuses on high-volume, lower-value items like consumables and spare parts, feeding the installed base supported by the service engineers. It's a defintely integrated system.

Nordson Corporation (NDSN) - Canvas Business Model: Customer Segments

You're looking at the core markets Nordson Corporation serves as of late 2025, which are clearly segmented across its three main operating divisions. The company's strategy focuses on high-value growth opportunities, evidenced by the recent divestiture of select contract manufacturing product lines within the Medical and Fluid Solutions (MFS) segment, expected to close in early Q4 fiscal 2025, which management believes will improve MFS segment EBITDA margins.

Nordson Corporation's diverse end market exposure includes consumer non-durable, medical, electronics, and industrial end markets. For the fiscal year 2024, the directional revenue mix, which includes the Atrion acquisition, provides a snapshot of the relative importance of these customer groups:

Customer Group (Directional Mix FY2024)	Approximate Revenue Percentage	Primary Nordson Segment
Medical	27%	Medical and Fluid Solutions (MFS)
Electronics	25%	Advanced Technology Solutions (ATS)
Consumer Non-Durable	21%	Industrial Precision Solutions (IPS)
Industrial	14%	Industrial Precision Solutions (IPS)
Remaining Markets	13%	Mixed

The latest reported sales figures from the third quarter ended July 31, 2025, show the current revenue flow from these groups:

• Medical and Fluid Solutions sales reached $219 million in Q3 2025.
• Advanced Technology Solutions sales were $171 million in Q3 2025.

Industrial Precision Solutions (IPS) sales for the second quarter ended April 30, 2025, were $319 million, showing the scale of the industrial-facing business, even with some systems demand weakness noted in polymer processing and industrial coatings.

Industrial manufacturers (packaging, nonwovens, polymer processing)

This group primarily falls under the Industrial Precision Solutions segment. These manufacturers use Nordson Corporation's product lines to reduce material consumption, increase line efficiency, and enhance product appearance. The business serves industrial, consumer durables, and non-durables markets with components for dispensing adhesives, coatings, paint, finishes, and sealants.

• Weakness in systems demand for polymer processing and industrial coatings product lines contributed to an organic sales decrease of 7% in IPS during Q2 2025.
• This was partially offset by growth in nonwovens, precision agriculture, and packaging product lines in that same quarter.

Medical device and fluid component manufacturers

These customers are the focus of the Medical and Fluid Solutions segment. They use Nordson Corporation's solutions for fluid management in medical devices and production processes. This includes components for minimally invasive procedures.

• The segment is prioritizing above-market growth in proprietary medical components, such as balloons, catheters, and nitinol devices.
• The Q3 2025 sales figure of $219 million included a significant 31% favorable impact from acquisitions.
• Organic sales for MFS were flat in Q3 2025, following a 10% organic sales decrease in Q2 2025 due to program rationalization and destocking.

Electronics and semiconductor assembly companies

These customers drive demand for the Advanced Technology Solutions segment. They utilize proprietary technologies in progressive production stages, including surface treatment, precise material dispensing, and test/inspection for quality assurance.

• Demand in semiconductor and electronics end markets was strong, driving a 15% organic sales increase in ATS during Q3 2025.
• Specific applications include semiconductor packaging, printed circuit boards, and electronic component assembly for items like mobile phones and PCs.

Automotive and general industrial coating customers

Coating customers are served across IPS and ATS. The coatings business within IPS saw weaker systems demand in the first half of fiscal 2025. Conversely, the electronics side of ATS serves automotive electronics.

Precision agriculture equipment manufacturers (e.g., ARAG acquisition)

Precision agriculture is explicitly called out as a growth area within the IPS segment, which is served by divisions like Nordson Precision Agriculture. The ARAG acquisition is a key part of this focus, helping to drive growth in IPS despite broader systems weakness.

The overall company performance reflects the varied demand across these segments; Nordson Corporation's TTM revenue as of late 2025 stands at $2.78 Billion USD, with a full-year 2025 sales guidance range set between $2,750 million and $2,870 million.

You should track the order entry acceleration mentioned in Q1 2025, as backlog grew by approximately $85 million then, to see if that translates into stronger IPS and industrial-related sales moving into Q4 2025.

Nordson Corporation (NDSN) - Canvas Business Model: Cost Structure

You're analyzing the cost drivers for Nordson Corporation as of late 2025, and the numbers show where the operational focus lies. The cost structure is heavily influenced by the complexity of their engineered products and the necessary investment to support a global, direct sales footprint.

Significant Cost of Sales due to complex manufacturing

The Cost of Sales (COS) reflects the nature of manufacturing precision equipment. For the three months ended July 31, 2025, Nordson Corporation reported a Cost of Sales of $334,992 thousand on total sales of $741,509 thousand. This translated to the Cost of Sales representing 45.2% of total revenues for the third quarter of fiscal 2025. To be fair, the gross margin percentage for that same quarter was 54.8%, a slight dip of 1.0 percentage point from the prior year period. This cost base is inherent to maintaining the quality and complexity required across their product lines, which include systems for dispensing adhesives, coatings, and sealants.

Selling, General, and Administrative (SG&A) expenses for global direct model

Supporting the global direct model requires significant fixed overhead. Selling and administrative expenses for the three months ended July 31, 2025, were $206,539 thousand. While this was an increase of 2.3% year-over-year, the company noted that SG&A leverage improved compared to the prior year when adjusted for certain charges. The direct model means Nordson must fund its own global sales force and application expertise, which is a key cost component versus relying solely on third-party distributors.

R&D investment to maintain technological edge

Maintaining technological leadership requires continuous spending, even when facing near-term cost pressures. While specific R&D figures for Q3 2025 weren't isolated in the latest reports, the scale of commitment is evident from historical deployment. Over the five years leading up to fiscal year 2024, Nordson Corporation invested roughly $800 million in capital and product development costs to support growth initiatives. This investment fuels the NBS Next strategy, which focuses on enhancing new product vitality.

Interest expense, notably higher due to prior acquisitions

Financing growth, particularly through acquisitions like Atrion, directly impacts the interest expense line. For the three months ended July 31, 2025, Interest expense was $26,258 thousand. That figure represents a significant jump, up 39.6% compared to the same period in the prior year, which management explicitly attributed to higher average debt levels driven by acquisitions.

Costs associated with strategic cost reduction and optimization actions

The company actively incurs costs to streamline operations and adjust its portfolio. These are often captured as special, non-GAAP adjustments. For the three months ended July 31, 2025, Nordson recorded $12,211 thousand in Divestiture and related charges, related to the exit of the medical contract manufacturing business. To illustrate the nature of other optimization costs, Q1 2025 adjustments included specific items like Severance and other costs of $5,961 thousand and Acquisition costs of $1,030 thousand.

Here's a quick look at the key cost-related financial metrics for the three months ended July 31, 2025 (in thousands, unless noted):

Cost Component	Amount (in thousands)	Context/Driver
Cost of Sales	$334,992	Represents 45.2% of Sales
Selling and Administrative Expenses	$206,539	Supports global direct sales model
Interest Expense	$26,258	Up 39.6% YoY due to acquisition debt
Divestiture and Related Charges (Q3 2025)	$12,211	Associated with medical contract manufacturing exit
R&D Investment Scale (5-Year Historical)	Approx. $800 million	Investment in capital and product development through FY2024

The company also incurred other non-cash charges in Q1 2025 related to optimization, such as Inventory step-up amortization of $3,135 thousand.

Finance: draft 13-week cash view by Friday.

Nordson Corporation (NDSN) - Canvas Business Model: Revenue Streams

You're looking at how Nordson Corporation actually brings in the money, which is key to understanding its stability. The revenue structure is definitely leaning toward the predictable side, which is a big plus when capital equipment cycles get choppy.

Let's look at the top-line numbers first. As of the end of the third quarter, the trailing 12-month revenue for Nordson Corporation as of July 31, 2025, was reported at $2.78 billion. That's a solid base. For that specific quarter, Q3 2025 sales hit $742 million, marking a 12% increase year-over-year. That growth came from a mix, including an 8% favorable acquisition impact and a 2% organic sales increase.

The core of the revenue story is the split between initial capital purchases and ongoing revenue. You've got the big ticket items-the equipment sales (systems) for initial capital investment-which are cyclical but necessary for customers to set up new production lines. Then you have the stickier revenue, and this is where Nordson has made significant strategic progress. The company has successfully increased its share of recurring sales from parts and consumables to well over 50% of total revenue. That shift from 40% over the last decade provides a much better floor for performance when new system orders slow down.

To give you a clearer picture of the capital equipment side, which is largely represented by the segment sales for Q3 2025, here's how the major buckets looked:

Segment	Q3 2025 Sales Amount	Notes
Industrial Precision Solutions	$351 million	Organic sales decreased 2% driven by polymer processing systems.
Medical and Fluid Solutions	$219 million	Sales up 32% year-over-year, with 31% from acquisition impact.
Advanced Technology Solutions	$171 million	Organic sales increased 15%, driven by electronics dispense product lines.

The recurring revenue stream also includes service and maintenance contracts for the installed base equipment. While the exact dollar amount isn't broken out separately from the parts and consumables figure, these contracts lock in revenue for servicing the installed base, which is extensive, given operations in over 35 countries. This service component, combined with consumables, is what pushes that recurring revenue percentage over the 50% mark.

It's also helpful to see the end-market exposure that drives these revenue streams, especially for the recurring components. As of the last reported mix including the Atrion acquisition, the revenue was directionally split across key areas:

• Medical: 27% of revenue.
• Electronics: 25% of revenue.
• Consumer Non-Durable: 21% of revenue.

The Advanced Technology Solutions segment, which is heavily weighted toward electronics, saw 15% organic growth in Q3 2025, showing where the high-growth, likely high-margin, recurring demand is coming from.

The mix shows a clear strategy: use the capital equipment sales to get the system installed, then generate stable, high-margin revenue from the parts, consumables, and service contracts afterward. Finance: draft 13-week cash view by Friday.