Core Insights - Nordson Corporation's adjusted earnings for Q3 fiscal 2025 were $2.73 per share, exceeding the Zacks Consensus Estimate of $2.63, marking a 13% year-over-year increase [1][9] Quarterly Results of Nordson - Revenues reached $742 million, a 12% increase from the previous year, driven by the Advanced Technology Solutions segment and contributions from acquisitions, surpassing the consensus estimate of $717 million [2][9] - Organic sales grew by 2% year-over-year, with strong demand in the Asia-Pacific region, while acquisitions contributed an 8% increase and foreign currency translation added 2% [2] Regional Performance - Asia Pacific revenues were $240.3 million, up 23.1% year-over-year; Europe revenues increased 4% to $186.6 million; and Americas revenues rose 9.6% to $314.6 million [3] Segment Performance - Industrial Precision Solutions revenues were $350.8 million, up 0.5%, contributing 47.3% to total revenues [3] - Medical and Fluid Solutions revenues reached $219.5 million, a 31.6% increase, contributing 29.6% to total revenues [4] - Advanced Technology Solutions sales were $171.3 million, up 17.4%, representing 23.1% of total revenues [5] Margin Profile - Cost of sales increased by 14.5% to $335 million, while gross profit rose 10.2% to $406.5 million, resulting in a gross margin decrease of 100 basis points to 54.8% [6] - Selling and administrative expenses increased 2.3% to $206.5 million; adjusted EBITDA was $238.5 million, up 14.6%, with a margin of 32.2% [7] Balance Sheet & Cash Flow - Cash and cash equivalents at the end of Q3 were $147.8 million, up from $116 million at the end of fiscal 2024; long-term debt decreased to $1.79 billion from $2.10 billion [10] - In the first nine months of fiscal 2025, net cash generated from operating activities was $516.3 million, a 12.3% increase year-over-year [11] Dividends and Share Buyback - Nordson paid out $133 million in dividends, a 13.9% increase from the previous year; treasury share purchases amounted to $218.2 million, significantly up from $34.1 million [12] Outlook - For fiscal 2025, Nordson projects sales between $2.75 billion and $2.87 billion, with adjusted earnings expected to be between $9.70 and $10.50 per share [13]

Group 1 - The conference call is regarding Nordson Corporation's third quarter fiscal year 2025 results [2][3] - Key participants in the call include the CEO, CFO, and Vice President of Investor Relations [1][3] - The call will reference non-GAAP financial metrics, with reconciliations provided in the press release [4] Group 2 - The conference call is being broadcast live on the investor website and will be available for 30 days [4] - Forward-looking statements regarding future performance will be made during the call [5]

Financial Data and Key Metrics Changes - Nordson reported sales of $742 million for the third quarter, a 12% increase from $662 million in the prior year [11] - Adjusted earnings per share increased by 13% to $2.73, exceeding the midpoint of guidance [14] - EBITDA rose by 15% to $239 million, representing 32% of sales [12][14] - Free cash flow reached a record $226 million, with a cash flow conversion rate of 180% of net income [9][19] Business Segment Data and Key Metrics Changes - Industrial Precision Solutions (IPS) sales were $351 million, up 1% year-over-year, with organic sales down 2% [14][15] - Medical and Fluid Solutions sales increased by 32% to $219 million, driven by the Atrion acquisition [15][16] - Advanced Technology Solutions (ATS) sales rose 17% to $171 million, with a 15% organic sales increase [18] Market Data and Key Metrics Changes - IPS segment showed strong order entry in packaging and nonwoven markets, with precision agriculture demand improving in Europe and South America [22][42] - Medical segment returning to growth, with high single-digit growth in medical fluid components [23][44] - ATS segment experienced strong demand in electronics dispense products, particularly in Asia Pacific [18][24] Company Strategy and Development Direction - Nordson's strategy focuses on operational excellence, innovation, and a balanced capital allocation approach [21][30] - The company is committed to divesting the medical contract manufacturing business to concentrate on higher-value proprietary medical components [29][30] - The NBS Next framework is emphasized for driving organic growth and competitive advantage [21][26] Management's Comments on Operating Environment and Future Outlook - Management noted mixed market conditions but expressed confidence in capitalizing on profitable growth opportunities [20][31] - The company expects to be slightly below the midpoint of full-year sales guidance, with earnings anticipated to be slightly better than the midpoint [31][78] - Ongoing geopolitical and trade uncertainties are acknowledged, but the company remains focused on delivering results [80] Other Important Information - Nordson's net debt was approximately $2 billion, with a leverage ratio improved to 2.2 times EBITDA [19][30] - The board approved a new share repurchase authorization of $500 million, bringing the total remaining authorization to approximately $800 million [30] Q&A Session Summary Question: Can you provide insights on order momentum across businesses, particularly ATS? - Management indicated stable demand across all businesses, with ATS showing good order stability despite some lumpiness [38][39][42] Question: Are there signs of pull-forward in the semiconductor complex? - Management stated there is no direct evidence of customers pulling orders forward, but demand remains stable across electronics dispense products [60][62] Question: How do you view the M&A funnel and share repurchase authorization? - Management confirmed a healthy M&A pipeline but emphasized a disciplined approach to acquisitions, with share repurchase reflecting a balanced capital allocation strategy [68][70] Question: Can you elaborate on the divestiture charges? - The divestiture charge of approximately $12.2 million is related to writing the business to estimated fair value and includes small restructuring charges [82] Question: What is the outlook for organic sales in Q4? - Management expects organic sales to be flat to slightly down year-over-year in Q4, driven by tough comps in certain segments [106][108]

Financial Data and Key Metrics Changes - Nordson reported sales of $742 million for Q3 2025, a 12% increase from $662 million in Q3 2024, with the Atrion acquisition contributing 8% to growth [11][12] - Adjusted earnings per share increased by 13% to $2.73, exceeding the midpoint of guidance and reflecting strong operational execution [14] - EBITDA reached $239 million, representing a 15% increase year-over-year, with a margin improvement of 70 basis points to 32% of sales [12][14] Business Segment Data and Key Metrics Changes - Industrial Precision Solutions (IPS) sales were $351 million, up 1% year-over-year, with organic sales down 2% but benefiting from a 3% favorable currency impact [15] - Medical and Fluid Solutions sales increased by 32% to $219 million, driven by the Atrion acquisition, which contributed $52 million [16] - Advanced Technology Solutions (ATS) sales rose 17% to $171 million, with a 15% organic sales increase driven by demand in electronics dispense product lines [17] Market Data and Key Metrics Changes - The IPS segment is seeing stable demand in packaging and nonwoven markets, with precision agriculture demand improving in Europe and South America [20] - The medical segment is returning to growth, with high single-digit growth in medical fluid components and normalization in interventional solutions [21] - ATS is experiencing strong order entry and backlog, particularly in semiconductor packaging investments and high-reliability electronics [22][23] Company Strategy and Development Direction - The company is focused on operational excellence and integration of the Atrion acquisition, which has exceeded expectations [7][26] - Nordson's NBS Next framework is driving new product development and operational efficiency, positioning the company for long-term growth [22][26] - The company plans to divest the medical contract manufacturing portion to focus on higher-value proprietary medical components [27][28] Management's Comments on Operating Environment and Future Outlook - Management noted mixed market conditions but expressed confidence in capitalizing on profitable growth opportunities [19] - The company expects to be slightly below the midpoint of full-year sales guidance, while earnings are expected to be slightly better than the midpoint due to strong operational execution [29] - Management highlighted ongoing uncertainties in the geopolitical and trade environment but remains committed to delivering results [76] Other Important Information - Free cash flow reached a record $226 million, with a cash flow conversion rate of 180% of net income [8][18] - The company reduced net debt by over $100 million and repurchased over $70 million in shares during the quarter [18][28] - A new share repurchase authorization of $500 million was approved, bringing the total remaining authorization to approximately $800 million [28] Q&A Session Summary Question: Can you provide insights on order momentum across businesses, particularly ATS? - Management indicated stable demand across businesses, with ATS showing good order stability despite some lumpiness [36][39] Question: What are the expectations for ATS margins and growth? - ATS is expected to maintain strong incremental performance, with margins around 24% to 25% in the absence of significant system demand increases [105][106] Question: How does the company view the M&A funnel and share repurchase strategy? - The company maintains a balanced capital allocation strategy, with a healthy M&A pipeline while continuing share repurchases due to favorable market conditions [63][66] Question: What is the outlook for organic sales in Q4? - Organic sales are expected to be flat to slightly down year-over-year in Q4, primarily due to tough comparisons from the previous year [102][104]

Company Overview - Nordson's revenue in 2024 was $2.7 billion, with an EBITDA margin of 32%[5] - The company has a diversified geographic footprint, with 44% of sales in the Americas, 27% in Europe, and 29% in Asia Pacific[10] - Nordson has a diversified product portfolio with over 2,100 global patents held[7] Sales and Revenue - Systems account for 42% of FY2024 sales, while parts and consumables make up 58%[9] - Industrial Precision Solutions (IPS) generated $1.4 million in fiscal 2024 revenue with 37% EBITDA[24] - Medical Fluid Solutions (MFS) generated $696 million in fiscal 2024 revenue with 37% EBITDA[34] - Advanced Technology Solutions (ATS) generated $596 million in fiscal 2024 revenue with 22% EBITDA[39] Financial Performance and Targets - The company targets average annual revenue growth of 6-8% and adjusted EPS growth of 10-12% from 2025-2029[51] - Nordson anticipates generating approximately $4.1 billion in operating cash flows through 2029[65] - The company reported sales of $742 million for 3Q 2025, a 12% increase, with EBITDA of $239 million, up 15%[73] - 3Q25 free cash flow was $226 million, representing a conversion rate of 180% of net income[79]

Core Insights - Nordson reported quarterly earnings of $2.73 per share, exceeding the Zacks Consensus Estimate of $2.63 per share, and up from $2.41 per share a year ago, representing an earnings surprise of +3.80% [1] - The company achieved revenues of $741.51 million for the quarter ended July 2025, surpassing the Zacks Consensus Estimate by 2.85% and increasing from $661.6 million year-over-year [2] - Over the last four quarters, Nordson has surpassed consensus EPS estimates three times and topped revenue estimates three times as well [2] Future Outlook - The sustainability of Nordson's stock price movement will depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $2.90 on revenues of $772.5 million, and for the current fiscal year, it is $10.03 on revenues of $2.79 billion [7] - The Zacks Rank for Nordson is currently 3 (Hold), indicating that shares are expected to perform in line with the market in the near future [6] Industry Context - The Manufacturing - General Industrial industry, to which Nordson belongs, is currently ranked in the top 18% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

[Fiscal 2025 Third Quarter Performance Overview](index=1&type=section&id=Fiscal%202025%20Third%20Quarter%20Performance%20Overview) Nordson reported strong Q3 FY2025 results with significant sales and adjusted EPS growth, driven by strategic acquisitions and effective market response [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) Nordson reported strong Q3 FY2025 financial results, with double-digit sales and adjusted EPS growth and robust cash generation Q3 FY2025 Key Financial Metrics | Metric | Q3 FY2025 | Q3 FY2024 | % Change | | :--- | :--- | :--- | :--- | | Sales | $742 million | $662 million | +12.1% | | Net Income | $126 million | $117 million | +7.7% | | Adjusted Net Income | $155 million | $138 million | +12.3% | | Diluted EPS | $2.22 | $2.04 | +8.8% | | Adjusted Diluted EPS | $2.73 | $2.41 | +13.3% | | EBITDA | $239 million | $208 million | +14.9% | - The company achieved a strong free cash flow conversion rate of **180%** of net income during the quarter[7](index=7&type=chunk) - The Board of Directors has approved a new share repurchase authorization of **$500 million**[7](index=7&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management attributed strong performance to effective market response, significant organic growth in ATS, and successful Atrion acquisition - The Advanced Technology Solutions segment was a key growth driver, delivering **15%** organic sales growth[4](index=4&type=chunk) - The Atrion acquisition, in its final full quarter of its first year, again exceeded expectations and contributed positively to both sales and earnings[4](index=4&type=chunk) - Strong cash flow conversion of **180%** enabled the company to reduce debt, repurchase shares, and return dividends to shareholders[4](index=4&type=chunk) [Segment Performance Analysis](index=1&type=section&id=Segment%20Performance%20Analysis) Analysis of sales and profitability across Industrial Precision, Medical and Fluid, and Advanced Technology Solutions segments [Industrial Precision Solutions (IPS)](index=1&type=section&id=Industrial%20Precision%20Solutions%20(IPS)) IPS sales increased slightly by 1% due to favorable currency, offsetting organic decline, with stable EBITDA margin at 37% IPS Q3 FY2025 Performance | Metric | Q3 FY2025 | Q3 FY2024 | % Change | | :--- | :--- | :--- | :--- | | Sales | $351 million | $349 million | +1% | | Organic Sales Change | -2% | N/A | N/A | | Operating Profit | $117 million | $115 million | +1.7% | | EBITDA | $130 million | $131 million | -0.8% | | EBITDA Margin | 37% | 37% | 0 bps | [Medical and Fluid Solutions (MFS)](index=1&type=section&id=Medical%20and%20Fluid%20Solutions%20(MFS)) MFS sales surged 32% driven by the Atrion acquisition, with organic growth of 4% and an expanded EBITDA margin of 38% MFS Q3 FY2025 Performance | Metric | Q3 FY2025 | Q3 FY2024 | % Change | | :--- | :--- | :--- | :--- | | Sales | $219 million | $167 million | +32% | | Acquisition Impact | +31% | N/A | N/A | | Organic Sales (ex-divestiture) | +4% | N/A | N/A | | EBITDA | $83 million | $62 million | +34% | | EBITDA Margin | 38% | 37% | +100 bps | - Adjusted operating profit, excluding acquisition costs and divestiture charges, increased by **$17 million** from the prior year, reflecting increased leverage and contributions from the Atrion acquisition[6](index=6&type=chunk) [Advanced Technology Solutions (ATS)](index=1&type=section&id=Advanced%20Technology%20Solutions%20(ATS)) ATS achieved outstanding results with 17% sales growth, 15% organic growth, and a significant EBITDA margin expansion to 24% ATS Q3 FY2025 Performance | Metric | Q3 FY2025 | Q3 FY2024 | % Change | | :--- | :--- | :--- | :--- | | Sales | $171 million | $146 million | +17% | | Organic Sales Growth | +15% | N/A | N/A | | Operating Profit | $37 million | $26 million | +42.3% | | EBITDA | $42 million | $31 million | +35% | | EBITDA Margin | 24% | 21% | +300 bps | [Financial Outlook](index=3&type=section&id=Financial%20Outlook) Nordson provides its full-year fiscal guidance, affirming original expectations with slight adjustments for sales and adjusted EPS [Full Year Guidance](index=3&type=section&id=Full%20Year%20Guidance) Nordson affirmed full-year guidance, expecting sales slightly below and adjusted EPS slightly above the midpoint, pending divestiture - The company's backlog is down approximately **5%** sequentially after a strong third quarter[10](index=10&type=chunk) - Full-year sales are now tracking slightly below the midpoint of the original guidance[10](index=10&type=chunk) - Full-year adjusted earnings per share are now tracking slightly above the midpoint of the original guidance[10](index=10&type=chunk) - The CEO expressed confidence in the company's ability to deliver solid growth and profitability, citing the NBS Next strategy, a diverse product portfolio, and a close-to-customer business model[11](index=11&type=chunk) [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) This section presents Nordson's consolidated statements of income, balance sheets, and cash flows for the reported periods [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Q3 FY2025 sales grew to $741.5 million, with increased gross and operating profit, and net income of $125.8 million Q3 Statement of Income Highlights (in thousands) | Account | Three Months Ended July 31, 2025 | Three Months Ended July 31, 2024 | | :--- | :--- | :--- | | Sales | $741,509 | $661,604 | | Gross Profit | $406,517 | $369,001 | | Operating Profit | $187,767 | $167,058 | | Net Income | $125,784 | $117,327 | | Diluted EPS | $2.22 | $2.04 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of July 31, 2025, total assets were $6.01 billion, with increased cash, reduced long-term debt, and assets held for sale Balance Sheet Highlights (in thousands) | Account | July 31, 2025 | October 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $147,788 | $115,952 | | Total current assets | $1,326,848 | $1,275,032 | | Total assets | $6,009,713 | $6,000,966 | | Long-term debt | $1,785,745 | $2,101,197 | | Total shareholders' equity | $2,981,785 | $2,932,192 | [Consolidated Statement of Cash Flows](index=6&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Nine-month operating cash flow increased to $516.3 million, with significant cash used for share repurchases and debt repayments Nine-Month Cash Flow Highlights (in thousands) | Account | Nine Months Ended July 31, 2025 | Nine Months Ended July 31, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $516,264 | $459,812 | | Net cash used in investing activities | ($44,730) | ($34,890) | | Net cash used in financing activities | ($444,530) | ($370,612) | | Net change in cash | $31,836 | $49,645 | - Share repurchases increased significantly year-over-year, with **$218.2 million** spent on treasury shares in the first nine months of FY2025 compared to **$34.1 million** in the prior year period[21](index=21&type=chunk) [Supplemental Financial Data](index=7&type=section&id=Supplemental%20Financial%20Data) This section provides additional financial details, including sales by segment and region, and reconciliations of non-GAAP measures [Sales by Segment and Geographic Region](index=7&type=section&id=Sales%20by%20Segment%20and%20Geographic%20Region) Q3 sales grew 12.1% across all regions, led by Asia Pacific, with MFS and ATS showing strong segment growth Q3 FY2025 Sales Variance vs. Q3 FY2024 | Category | Total Variance | Organic | Acquisitions | Currency | | :--- | :--- | :--- | :--- | :--- | | **By Segment** | | | | | | Industrial Precision Solutions | +0.5% | -2.0% | 0.0% | +2.5% | | Medical and Fluid Solutions | +31.6% | -0.4% | +31.0% | +1.0% | | Advanced Technology Solutions | +17.4% | +14.6% | 0.0% | +2.8% | | **By Region** | | | | | | Americas | +9.6% | -3.2% | +13.0% | -0.2% | | Europe | +4.0% | -6.1% | +4.8% | +5.3% | | Asia Pacific | +23.1% | +17.4% | +2.9% | +2.8% | [Reconciliation of Non-GAAP Measures](index=8&type=section&id=Reconciliation%20of%20Non-GAAP%20Measures) Detailed reconciliations of non-GAAP measures like EBITDA, Adjusted Net Income, EPS, and Free Cash Flow are provided for clarity [Net Income to EBITDA Reconciliation](index=8&type=section&id=Net%20Income%20to%20EBITDA%20Reconciliation) Reconciliation of GAAP net income to non-GAAP EBITDA, detailing adjustments for taxes, interest, depreciation, and other items Q3 EBITDA Reconciliation (in thousands) | Account | Q3 FY2025 | Q3 FY2024 | | :--- | :--- | :--- | | Net Income | $125,784 | $117,327 | | Add: Income Taxes | $33,340 | $32,107 | | Add: Interest Expense - net | $25,698 | $17,776 | | Add: Depreciation & Amortization | $37,847 | $33,382 | | Add: Divestiture Charges | $12,211 | $0 | | Other Adjustments | $3,631 | $7,544 | | **EBITDA (non-GAAP)** | **$238,511** | **$208,136** | [Segment EBITDA Reconciliation](index=9&type=section&id=Segment%20EBITDA%20Reconciliation) This table presents the EBITDA and corresponding margins for each operating segment for the third quarter Q3 EBITDA by Segment (in thousands) | Segment | EBITDA Q3 FY2025 | Margin | EBITDA Q3 FY2024 | Margin | | :--- | :--- | :--- | :--- | :--- | | Industrial Precision Solutions | $130,130 | 37% | $130,606 | 37% | | Medical and Fluid Solutions | $83,153 | 38% | $61,927 | 37% | | Advanced Technology Solutions | $41,546 | 24% | $30,873 | 21% | | **Total EBITDA** | **$238,511** | **32%** | **$208,136** | **31%** | [Adjusted Net Income and EPS Reconciliation](index=10&type=section&id=Adjusted%20Net%20Income%20and%20EPS%20Reconciliation) This reconciliation details adjustments from GAAP net income and diluted EPS to their non-GAAP adjusted counterparts Q3 Adjusted Net Income & EPS Reconciliation | Metric | GAAP As Reported | Adjustments (net of tax) | Non-GAAP Adjusted | | :--- | :--- | :--- | :--- | | Net Income | $125.8 M | $29.1 M | $154.9 M | | Diluted EPS | $2.22 | $0.51 | $2.73 | - Total pre-tax adjustments for the quarter were **$33.0 million**, primarily consisting of **$20.1 million** in acquisition amortization and **$12.2 million** in divestiture-related charges[31](index=31&type=chunk) [Free Cash Flow Reconciliation](index=11&type=section&id=Free%20Cash%20Flow%20Reconciliation) This section reconciles net cash provided by operating activities to free cash flow and calculates the conversion rate Q3 Free Cash Flow (in thousands) | Metric | Q3 FY2025 | | :--- | :--- | | Net cash provided by operating activities (YTD) | $516,264 | | Less: Additions to property, plant and equipment (YTD) | ($49,002) | | **Free Cash Flow (YTD)** | **$467,262** | | **Free Cash Flow (QTD)** | **$226,409** | | Net Income (QTD) | $125,784 | | **Free Cash Flow Conversion (QTD)** | **180%** |

Core Insights - Nordson Corporation is set to release its third-quarter financial results on August 20, with analysts expecting earnings of $2.64 per share, an increase from $2.41 per share in the same period last year [1] - The company is projected to report quarterly revenue of $723.57 million, up from $661.60 million a year earlier [1] Stock Performance - Nordson shares increased by 1.6%, closing at $217.50 [2] Analyst Ratings - Keybanc analyst Jeffrey Hammond maintained an Overweight rating and raised the price target from $230 to $250 [7] - Oppenheimer analyst Christopher Glynn upgraded the stock from Perform to Outperform with a price target of $260 [7] - Baird analyst Michael Halloran maintained a Neutral rating and increased the price target from $241 to $245 [7] - Loop Capital analyst Chris Dankert upgraded the stock from Hold to Buy, raising the price target from $255 to $280 [7] - Seaport Global analyst Walt Liptak upgraded the stock from Neutral to Buy with a price target of $250 [7]

Core Viewpoint - Analysts forecast that Nordson (NDSN) will report quarterly earnings of $2.61 per share, reflecting an 8.3% year-over-year increase, with revenues expected to reach $721 million, a 9% increase compared to the previous year [1]. Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions to the stock, with empirical studies showing a strong relationship between earnings estimate revisions and short-term stock performance [2]. Key Metrics Analysis - The average prediction for 'Net Sales- Industrial Precision Solutions' is $337.46 million, indicating a year-over-year decline of 8.9% [4]. - 'Net Sales- Advanced Technology Solutions' is estimated to reach $164.46 million, reflecting a year-over-year increase of 32.3% [4]. - 'Net Sales- Medical and Fluid Solutions' is projected at $214.82 million, showing a year-over-year increase of 28.8% [5]. - 'Operating profit (loss)- Advanced Technology Solutions' is forecasted to be $38.05 million, up from $22.95 million in the same quarter last year [5]. - 'Operating profit (loss)- Medical and Fluid Solutions' is expected to reach $60.76 million, compared to $48.37 million a year ago [6]. - 'Operating profit (loss)- Industrial Precision Solutions' is projected at $112.06 million, down from $118.11 million in the previous year [6]. Stock Performance - Nordson shares have changed by -0.1% in the past month, contrasting with a +3.3% increase in the Zacks S&P 500 composite, indicating that the stock is expected to mirror overall market performance in the near future [6].

Core Insights - The article compares Gorman-Rupp (GRC) and Nordson (NDSN) to determine which stock is more attractive to value investors [1] Valuation Metrics - GRC has a forward P/E ratio of 20.26, while NDSN has a forward P/E of 22.02 [5] - GRC's PEG ratio is 1.56, compared to NDSN's PEG ratio of 1.69, indicating GRC's expected earnings growth is more favorable [5] - GRC's P/B ratio is 2.73, while NDSN's P/B ratio is 4.2, suggesting GRC is more undervalued relative to its book value [6] Analyst Outlook - GRC currently holds a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision trend compared to NDSN's Zacks Rank of 3 (Hold) [3] - GRC's solid earnings outlook and favorable valuation metrics position it as the superior value option compared to NDSN [7]