What changed in this filing

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Item 1. Business

2025-12-17 compared with 2024-12-18 · 61 added, 69 removed, 150 unchanged (46% of the section changed)

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As of October 31, 2025, we had approximately 8,000 employees worldwide.

Our principal manufacturing facilities are located in the United States, the People’s Republic of China, Germany, Ireland, Israel, Italy, Mexico, the Netherlands and the United Kingdom.

Our principal manufacturing facilities are located in the United States, the People’s Republic of China, Bulgaria, Germany, Ireland, Israel, Italy, Mexico, the Netherlands and the United Kingdom.

Corporate Purpose and Goals

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our culture and our values.

The NBS Next growth framework, the heart of the Ascend strategy, uses data-based segmentation to identify our greatest opportunities for profitable growth and ensure we are investing our resources in those areas.

Using data in a consistent and disciplined way, leaders across the Company are defining their strategic business priorities.

The NBS Next growth framework is at the heart of the Ascend strategy and uses data-based segmentation to identify our greatest opportunities for profitable growth and ensure we are investing our resources in those areas.

By using data in a consistent and disciplined way, leaders across the Company are empowered to define their strategic business priorities.

We drive organic growth by continually introducing new products and technology, providing high levels of customer service and support, capturing rapidly expanding opportunities in emerging geographies and leveraging existing technology into new applications.

Additional growth comes through the acquisition of companies that have differentiated precision technology-based product portfolios, serve attractive high-growth end-markets applications and have a customer-centric business model.

The primary goals of our acquisition strategy are to complement our current capabilities, diversify our business into new industry sectors with new customers and expand the scope of the solutions we can offer to our customers.

We strive to provide genuine customer satisfaction – it is the foundation upon which we continue to build our business.

The primary goals of our acquisition strategy are to complement our current capabilities, diversify our business into attractive end markets and expand the scope of the precision solutions we can offer to our customers.

Providing genuine customer satisfaction is our priority, and it is the foundation upon which we continue to build our business.

Complementing our business strategy is the objective to provide opportunities for employee self-fulfillment, growth, security, recognition and equitable compensation.

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We are an equal opportunity employer.

At Nordson, we have a long and proud history of investing in the communities where we live and work.

We are committed to contributing up to five percent of domestic pretax earnings to education, human welfare services and other charitable activities, particularly in communities where we have significant operations.

Through the Nordson Corporation Foundation, we give back by providing grants to nonprofits in communities where we have facilities employing approximately 100 people.

At Nordson, making an impact in the communities where we live and work has remained core to who we are.

Through the Nordson Corporation Foundation, we invest in selected community organizations where we have larger facilities.

In recent years, we have extended our reach internationally through our 2:1 employee Matching Gifts, as well as community giving programs in ten international locations.

Since 1989, we have donated more than $173 million to communities where we live and work.

In addition, our employees volunteered more than 113,000 hours through our Time ‘N Talent and Dollars for Doers programs.

Since 1989, we have donated more than $183 million to the communities where we live and work.

In addition, our employees volunteered more than 117,000 hours through our volunteer programs.

Principal Products and Uses

We are a diversified precision technology company that engineers, manufactures, and markets differentiated products and systems used to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, medical components, and other fluids, to test and inspect for quality, and to treat and cure surfaces.

Our precision technology can be found in manufacturing facilities around the world producing a wide range of goods for consumer durable, consumer non-durable, medical and technology end markets.

Our precision technology can be found in manufacturing facilities around the world, producing a wide range of goods for medical, electronics, consumer non-durable, industrial and other end markets.

Equipment ranges from single-use components to manual, stand-alone units for low-volume operations to microprocessor-based automated systems for high-speed, high-volume production lines.

We market our products globally, primarily through a direct sales force, and also through qualified distributors and sales representatives.

We market our products globally, primarily through a direct sales force and qualified distributors and sales representatives.

We have built a worldwide reputation for creativity and expertise in the design and engineering of high-technology application equipment that meets the specific needs of our customers.

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Industrial Precision Solutions

This segment delivers proprietary dispensing and material processing technology, as well as measurement, inspection and control solutions to diverse end markets.

Product line specific solutions reduce material consumption, increase line efficiency and enhance product quality and appearance.

Technologies are used for processing polymers, inspection and measurement of food, tubing and films and dispensing adhesives, coatings, sealants and other materials.

This segment primarily serves the consumer durables, non-durables, agriculture and industrial markets.

This segment delivers proprietary dispensing and material processing technology to diverse end markets.

Product line specific solutions enhance product quality and appearance, while increasing line efficiency and reducing material consumption.

Technologies are used for dispensing adhesives, coatings, sealants, liquids, and other materials, as well as processing of polymers.

This segment primarily serves consumer durables, non-durables, industrial, agriculture, and automotive markets.

• Industrial Coatings – 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.

Key strategic markets include beverage containers and food cans, electric battery, appliances, automotive, building and construction, composites, electronics and medical.

• Measurement and Control Solutions – In-line measurement sensors, gauges and analyzers using near-infrared, laser, X-ray, optical and nucleonic technologies, as well as proprietary algorithms and software.

These precision applications ensure quality and reliability within the customers’ manufacturing processes.

Key strategic markets include consumer non-durable, film extrusion and converting, cable and tubing and energy storage.

Key strategic markets include beverage containers and food cans, electric batteries, appliances, automotive, building and construction, composites, electronics and medical.

• Nonwovens – Dispensing, coating, and laminating systems for applying adhesives, lotions, liquids, and fibers to disposable products and continuous roll goods.

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Key strategic markets include flexible packaging, electronics, medical, building and construction, transportation and aerospace, and general consumer goods.

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• Precision Agriculture – Precision agriculture spraying solutions, including fluid components, such as nozzles, pumps and filters;

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Key strategic markets include appliances, automotive components, building and construction materials, electronics, furniture, solar energy, and the manufacturing of bags, sacks, books, envelopes, and folding cartons.

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Medical and Fluid Solutions

This segment includes components and device solutions for medical, life science, high-tech industrial, and other diverse end markets.

• Medical – Components and devices for minimally invasive interventional surgical procedures, including cannulas, catheters and medical balloons.

Products also include proprietary single-use plastic components in medical applications, including biopharmaceutical, patient care/surgical and diagnostic systems.

• Fluid Management – Precision manual and semi-automated dispensers and highly engineered single-use plastic molded syringes, cartridges, tips and fluid connection components.

• Engineered Fluid Solutions – Precision manual and semi-automated dispensers and highly engineered single-use plastic molded syringes, cartridges, tips and fluid connection components.

Products are used within critical medical and industrial production processes and for applying and controlling the flow of adhesives, sealants, and lubricants.

Key strategic markets include electronics, industrial, medical, and animal health.

Atrion Acquisition

On August 21, 2024, Nordson acquired Atrion Corporation, a Delaware corporation (“Atrion”), pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 28, 2024, among Nordson, Alpha Medical Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Nordson (“Merger Sub”) and Atrion.

Headquartered in Allen, Texas, Atrion is a manufacturer of proprietary medical products and generated approximately $169 million in annual revenue in 2023.

Established in 1944, Atrion supports customers globally through three FDA registered U.S.

Food and Drug Administration manufacturing facilities located in the United States.

Atrion’s portfolio is included in the Company's Medical and Fluid Solutions segment.

It consists of three key businesses that we believe will significantly expand Nordson’s addressable market in infusion and cardiovascular therapies:

• Halkey Roberts is a leader in infusion fluid delivery solutions, including single-use original equipment manufacturer ("OEM") medical components such as swabable needle free and pressure relief valves.

• Atrion Medical is a leading provider of OEM interventional inflation devices for balloon catheterization, stent deployment and fluid delivery in structural heart, ears, nose and throat and gastrointestinal procedures.

• Quest Medical’s highly differentiated myocardial protection devices and single-use consumables deliver real-time precise drug administration during cardiovascular surgery.

• Medical Interventional Solutions – Interventional solutions for minimally invasive interventional surgical procedures, including engineered shafts and interventional delivery systems, medical tubing, balloons, balloon inflators, nitinol devices, cardiovascular cannula and biomaterial delivery.

Key strategic markets include cardiovascular, structural heart, neurovascular and gastroenterology.

• Medical Fluid Components – Proprietary single-use plastic components in medical applications, including drug delivery and needle-free infusion valves, single-use fluid transfer components, and other related components.

Key strategic end markets include drug infusion, IV & drug delivery, patient care, surgical and biopharma.

• Surgical Solutions – Microplegia myocardial protection devices and related consumables used in cardiac surgical procedures.

Advanced Technology Solutions

This segment integrates our proprietary product technologies into the progressive stages of a customer’s production processes, such as surface treatment, precisely controlled dispensing of material, and pre- and post-dispense test and inspection to ensure quality.

This segment predominantly serves customers in the electronics end markets.

• Electronics Systems – Automated dispensing systems for high-speed, accurate application of a broad range of attachment, protection and coating fluids, and related gas plasma treatment systems for cleaning and conditioning surfaces prior to dispense.

Key strategic markets include the breadth of the electronics industry manufacturing supply chain that produces semiconductor, printed circuit board assemblies and electronic components.

• Test and Inspection – Bond testing and automated optical, acoustic microscopy and x-ray inspection systems used in the semiconductor and printed circuit board industries.

Key strategic markets include mobile phones, tablets, personal computers, wearable technology, liquid crystal displays, micro hard drives, microprocessors, printed circuit boards, flexible circuits, micro mechanical systems and semiconductor packaging.

This segment predominantly serves customers in the semiconductor and electronics end markets.

• Electronics Dispense Systems – Automated dispensing systems for high-speed, precise application of a broad range of attachment, protection, and coating fluids, and related gas plasma treatment systems for cleaning and conditioning surfaces prior to dispense.

Key strategic markets include the breadth of the electronics industry manufacturing supply chain that produces semiconductors, printed circuit board assemblies, and electronic components.

• Test and Inspection – Destructive and non-destructive testing technologies, such as bond testers and automated optical, acoustic microscopy and x-ray inspection systems used in the semiconductor and printed circuit board industries.

Products also include precision measurement and control technologies that ensure quality and reliability through in-line measurement sensors, gauges, and analyzers that use near-infrared, laser, X-ray, optical, and nucleonic technologies, as well as proprietary algorithms and software.

Key strategic end markets for test, inspection and measurement solutions include semiconductor packaging, printed circuit boards, flexible circuits, consumer electronics, as well as consumer non-durable, film extrusion and converting, cable and tubing and energy storage.

Manufacturing, Raw Materials and Other Resources

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Many components are made in standard modules that can be used in more than one product or in combination with other components for a variety of models.

We have principal manufacturing operations and

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sources of supply in the United States in Ohio, Georgia, California, Colorado, Connecticut, Illinois, Michigan, Minnesota, Pennsylvania, Rhode Island, Tennessee, Florida, Texas, Alabama and Wisconsin;

as well as in the People’s Republic of China, Germany, Ireland, India, Israel, Italy, Mexico, the Netherlands and the United Kingdom.

Principal materials used to make our products are metals and plastics, typically in sheets, bar stock, castings, forgings, tubing and pellets.

We also purchase many electrical and electronic components, fabricated metal parts, high-pressure fluid hoses, packings, seals and other items integral to our products.

We have principal manufacturing operations and sources of supply in the United States in Ohio, Georgia, California, Colorado, Connecticut, Illinois, Michigan, Minnesota, Pennsylvania, Rhode Island, Tennessee, Florida, Texas, Alabama and Wisconsin;

as well as in the People’s Republic of China, Bulgaria, Germany, Ireland, India, Israel, Italy, Mexico, the Netherlands and the United Kingdom.

Principal materials include sheet metal, fabricated metal parts, bar stock, castings, forgings, tubing, plastic parts and pellets.

We also purchase many electrical and electronic components, high-pressure fluid hoses, packings, seals, and other items integral to our products.

Suppliers are competitively selected based on cost, quality and service.

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While these items are generally available from multiple sources, the cost of products sold may be affected by changes in the market price of raw materials and tariffs on certain raw materials, particularly imports from China, as well as disruptions in availability of raw materials, components, and sourced finished goods.

We monitor and investigate alternative suppliers and materials based on numerous attributes including quality, service, financial stability and price.

We monitor and investigate alternative suppliers and materials based on numerous attributes including quality, service, financial stability, Nordson manufacturing location, and price.

We currently source raw materials and components from a number of suppliers, but our ongoing efforts to improve service and manage compliance requirements and the cost effectiveness of our products may result in a reduction in the number of our suppliers.

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Senior operating management supervises an extensive quality control program for our equipment, machinery and systems, and manufacturing processes.

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We continue to see a stabilization of the global supply chain, improved lead times, and lower inflation risk.

We enhanced our risk mitigation and sourcing efforts as a result of the COVID-19 pandemic and geopolitical tensions.

We enhanced our risk mitigation and sourcing efforts, because of the COVID-19 pandemic and geopolitical tensions.

Logistics flows have improved, and global forwarding rates have returned closer to pre-pandemic levels, except for Asia-origin shipments, which continue to be more volatile.

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We operate in a competitive global marketplace and compete with many large, well-established and highly competitive manufacturers and service providers.

Our business is affected by a range of macroeconomic conditions, including industry capacity changes, global competition and economic conditions in the U.S.

and abroad, as well as fluctuations in currency exchange rates.

Our business is affected by a range of macroeconomic conditions, including industry capacity changes, global competition and economic conditions in the United States and abroad, as well as fluctuations in currency exchange rates.

Our equipment is sold in competition with a wide variety of alternative bonding, sealing, finishing, coating, processing, testing, inspecting and fluid control techniques.

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or testing and inspecting for quality.

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Many factors influence our competitive position, including pricing, product quality, and service.

We maintain a leadership position in our business segments by delivering high-quality, innovative products and technologies, as well as global service and technical support.

Working with customers to understand their processes and developing the application solutions that help them meet their production requirements also contributes to our leadership position.

Working with customers to understand their processes and developing application solutions that help them meet their production requirements also contributes to our leadership position.

Our worldwide network of direct sales and technical resources also is a competitive advantage.

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The following describes certain significant regulations that may impact our business.

For additional information about the risks associated with these laws and regulations, see Part I, Item 1A, "Risk Factors."

For additional information about the risks associated with these laws and regulations, see Item 1A, "Risk Factors."

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We transact with customers and suppliers in numerous geographies around the world and are required to comply with U.S.

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Based upon consideration of currently available information, we believe liabilities for any such matters will not have a material adverse effect on our financial position, operating results, or liquidity, but we cannot guarantee that material liabilities may not arise from regulation and compliance obligations in the future.

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Human Capital Resources

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These programs not only include base wages and incentives in support of our pay for performance culture, but also health, welfare and retirement benefits.

We focus many programs on employee wellness and have implemented solutions including mental health support access, telemedicine and healthy weight loss programs.

We focus many programs on employee wellbeing and have implemented solutions including mental health support and training, telemedicine, and healthy weight loss programs.

We believe that these solutions have helped us successfully manage healthcare and prescription drug costs for our employee population.

In the U.S., we match contributions to a tax-qualified defined contribution retirement savings plan (the “Savings Plan”) for all eligible employees, in an amount equal to 50 cents for every dollar contributed by the employee until the employee contributions reach 6% of her or his base compensation.

In addition, non-union new hires and re-hires as of July 1, 2021 are eligible for an additional enhanced 401(k) contribution of 3% eligible earnings.

All contributions by employees into the Savings Plan are fully vested immediately.

Company contributions, both the match and enhanced contribution, have a three-year graded vesting schedule and vest at 33 1/3% each year until fully vested after three years of employment.

In the United States, we match contributions to a tax-qualified defined contribution retirement savings plan (the “Savings Plan”) for all eligible employees, in an amount equal to 50 cents for every dollar contributed by the employee until the employee contributions reach 6 percent of her or his base compensation.

In addition, new hires and re-hires as of July 1, 2021, are eligible for an additional enhanced 401(k) contribution of 3 percent eligible earnings.

All employee contributions vest immediately.

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Company contributions, both the match and enhanced contribution, have a three-year graded vesting schedule and vest at 33 1/3 percent each year until fully vested after three years of employment.

We also maintain a non-qualified, unfunded, and unsecured deferred compensation plan for the benefit of eligible management.

In addition, non-union employees hired prior to July 1, 2021 are eligible to participate in a Company-sponsored tax-qualified pension plan for U.S.-based employees (the “Salaried Pension Plan”).

The Salaried Pension Plan is designed to work together with social security benefits to provide employees with up to 30 years of service retirement income replacement that is approximately 55% of eligible compensation, subject to the Internal Revenue Code maximum monthly benefit.

In addition, employees hired prior to July 1, 2021, are eligible to participate in a Company-sponsored tax-qualified pension plan for U.S.-based employees (the “Salaried Pension Plan”).

The Salaried Pension Plan is designed to work together with social security benefits to provide employees with up to 30 years of service retirement income replacement that is approximately 55 percent of eligible compensation, subject to the Internal Revenue Code maximum monthly benefit.

Participants fully vest in the Salaried Pension Plan after five years of service.

All eligible union employees hired prior to November 1, 2004 participate in a Company-sponsored tax-qualified pension plan for U.S.-based employees (the “Hourly Pension Plan”).

Retired and former union employees hired prior to November 1, 2004, participate in a Company-sponsored tax-qualified pension plan for U.S.-based employees (the “Hourly Pension Plan”).

The Hourly Pension Plan provides a multiplier for each year of service to supplement employees’ retirement income.

We also maintain a supplemental retirement benefit restoration plan (“Excess Defined Benefit Pension Plan”), which is an unfunded, non-qualified plan that is designed to provide retirement benefits to U.S.-based eligible officers hired prior to July 1, 2021, as a replacement for retirement benefits limited by regulations under the Internal Revenue Code.

As of November 1, 2025, the Hourly Pension Plan merged into the Salaried Pension Plan and the Salaried Pension Plan was renamed the Nordson Pension Plan.

We also maintain a supplemental retirement benefit restoration plan, which is an unfunded, non-qualified plan that is designed to provide retirement benefits to U.S.-based eligible officers hired prior to July 1, 2021, as a replacement for retirement benefits limited by regulations under the Internal Revenue Code.

In 2022, we launched a global recognition program that allows managers and peers to recognize the special achievements of others through both written recognition shared on a company awards feed, as well as monetary recognition that allows a recipient to choose a physical gift, gift card, or donate the value of their recognition to charity.

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Service milestones are recognized at each five-year increment by presentation of a digital and/or printed certificate with an invitation to select a recognition award via an online catalog.

Our key talent philosophy is to develop talent from within and supplement with external hires.

Our Winning Team philosophy is to develop talent from within and supplement with external hires.

This approach has yielded a deep understanding among our employee base of our business, products and customers, while adding new employees and ideas in support of our continuous improvement mindset.

Attracting and retaining the best talent relies on our ability to provide a diverse and inclusive workplace, personal and professional growth opportunities, and a rewarding employee experience.

We strive to uphold a culture of shared knowledge, appreciation and success.

Attracting and retaining the best talent relies on our ability to provide an inclusive workplace, personal and professional growth opportunities, and an engaging employee experience.

Demonstrating our commitment to our employees, we conducted global focus groups and an in-depth review to capture what makes life at Nordson unique.

The key themes that emerged were:

entrepreneurial spirit, opportunity, connection and impact.

We are proud that this is how our employees describe their Nordson experience, and we will strive to uphold that culture.

We believe that our average tenure across the globe reflects our positive workplace culture and the strong engagement of our employees.

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One of our core values—Respect for People—reflects the behavior we strive to include in every aspect of the way we conduct business.

Our approach encompasses inclusion awareness and skill-building, intentionality with respect to diversity in our hiring and selection process and performance management and succession planning that recognizes the importance of diversity.

Nordson’s employee resource groups strengthen our commitment to fostering an inclusive, diverse workplace where everyone feels like they belong.

Our approach encompasses inclusive awareness and skill-building.

This connection is an innate part of Nordson's culture.

To supplement this, Nordson’s employee resource groups strengthen our commitment to fostering an inclusive workplace.

Participation in these groups is open to all employees.

We regularly reflect on our progress and explore opportunities to improve our inclusion and diversity programs, including at the executive leadership and Board levels.

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We regularly reflect on our progress and explore opportunities to improve our inclusion strategies, including at the executive leadership and Board levels.

Available Information

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business