NDSN vs. AVY

Last updated Jun 3, 2026

NDSN (Nordson Corporation) and AVY (Avery Dennison Corporation) are both stocks. Both are in the Industrials sector — NDSN in Specialty Industrial Machinery, AVY in Business Equipment & Supplies. Over the past 10 years, NDSN returned 13.76%/yr vs 9.48%/yr for AVY. At a 0.40 correlation, their price movements are largely independent.

Performance

NDSN vs. AVY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nordson Corporation (NDSN) and Avery Dennison Corporation (AVY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDSN achieves a 20.04% return, which is significantly higher than AVY's -13.23% return. Over the past 10 years, NDSN has outperformed AVY with an annualized return of 13.76%, while AVY has yielded a comparatively lower 9.48% annualized return.

NDSN

• 1D: 2.28%
• 1M: 1.60%
• YTD: 20.04%
• 6M: 22.45%
• 1Y: 37.50%
• 3Y*: 9.46%
• 5Y*: 6.64%
• 10Y*: 13.76%

AVY

• 1D: 1.00%
• 1M: -3.67%
• YTD: -13.23%
• 6M: -7.86%
• 1Y: -8.95%
• 3Y*: -0.07%
• 5Y*: -4.91%
• 10Y*: 9.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NDSN vs. AVY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDSN Nordson Corporation	20.04%	17.03%	-20.15%	12.39%	-5.93%	28.09%	24.45%	37.88%	-17.65%	31.83%
AVY Avery Dennison Corporation	-13.23%	-0.73%	-5.95%	13.66%	-15.06%	41.41%	20.86%	48.54%	-20.28%	66.75%

Correlation

The correlation between NDSN and AVY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.40

Over the past year, NDSN and AVY have become more correlated (0.60) than their long-term average of 0.40, meaning their price movements have been converging.

Fundamentals

Market Cap NDSN : $16.15B AVY : $12.09B
EPS NDSN : $9.36 AVY : $8.87
PE Ratio NDSN : 30.74 AVY : 17.70
PEG Ratio NDSN : 12.05 AVY : 5.91
PS Ratio NDSN : 5.59 AVY : 1.36
PB Ratio NDSN : 5.04 AVY : 5.26
Total Revenue (TTM) NDSN : $2.90B AVY : $9.01B
Gross Profit (TTM) NDSN : $1.60B AVY : $2.59B
EBITDA (TTM) NDSN : $744.50M AVY : $1.24B

Return for Risk

NDSN vs. AVY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NDSN

NDSN Risk / Return Rank: 82
NDSN Sharpe Ratio Rank: 85
NDSN Sortino Ratio Rank: 83
NDSN Omega Ratio Rank: 79
NDSN Calmar Ratio Rank: 80
NDSN Martin Ratio Rank: 84

AVY

AVY Risk / Return Rank: 22
AVY Sharpe Ratio Rank: 24
AVY Sortino Ratio Rank: 20
AVY Omega Ratio Rank: 21
AVY Calmar Ratio Rank: 25
AVY Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NDSN vs. AVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nordson Corporation (NDSN) and Avery Dennison Corporation (AVY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NDSN	AVY	Difference
Sharpe ratio Return per unit of total volatility	1.82	-0.39	+2.20
Sortino ratio Return per unit of downside risk	2.64	-0.46	+3.10
Omega ratio Gain probability vs. loss probability	1.30	0.95	+0.35
Calmar ratio Return relative to maximum drawdown	2.66	-0.45	+3.11
Martin ratio Return relative to average drawdown	8.62	-1.02	+9.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDSN vs. AVY - Sharpe Ratio Comparison

The current NDSN Sharpe Ratio is 1.82, which is higher than the AVY Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of NDSN and AVY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NDSN	AVY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	-0.39	+2.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	-0.20	+0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.35	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.35	+0.03

Drawdowns

NDSN vs. AVY - Drawdown Comparison

The maximum NDSN drawdown since its inception was -73.62%, roughly equal to the maximum AVY drawdown of -73.03%. Use the drawdown chart below to compare losses from any high point for NDSN and AVY.

Drawdown Indicators

	NDSN	AVY	Difference
Max Drawdown Largest peak-to-trough decline	-73.62%	-73.03%	-0.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-21.49%	+7.34%
Max Drawdown (3Y) Largest decline over 3 years	-39.15%	-30.44%	-8.71%
Max Drawdown (5Y) Largest decline over 5 years	-39.15%	-31.80%	-7.35%
Max Drawdown (10Y) Largest decline over 10 years	-44.24%	-43.52%	-0.72%
Current Drawdown Current decline from peak	-3.57%	-29.18%	+25.61%
Average Drawdown Average peak-to-trough decline	-13.25%	-16.78%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.36%	9.52%	-5.16%

Volatility

NDSN vs. AVY - Volatility Comparison

Nordson Corporation (NDSN) has a higher volatility of 6.65% compared to Avery Dennison Corporation (AVY) at 6.29%. This indicates that NDSN's price experiences larger fluctuations and is considered to be riskier than AVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDSN	AVY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	6.29%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	16.14%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	23.35%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.66%	24.59%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.43%	27.02%	+1.41%

Dividends

NDSN vs. AVY - Dividend Comparison

NDSN's dividend yield for the trailing twelve months is around 1.13%, less than AVY's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVY Avery Dennison Corporation	2.39%	2.03%	1.84%	1.57%	1.62%	1.23%	1.52%	1.73%	2.24%	1.53%	2.28%	2.33%
NDSN Nordson Corporation	1.13%	1.66%	1.02%	1.01%	0.98%	0.71%	0.77%	0.90%	1.09%	0.78%	0.91%	1.43%

Financials

NDSN vs. AVY - Profitability Comparison

The chart below illustrates the profitability comparison between Nordson Corporation and Avery Dennison Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NDSN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported a gross profit of 404.08M and revenue of 740.85M. Therefore, the gross margin over that period was 54.5%.

AVY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Avery Dennison Corporation reported a gross profit of 664.80M and revenue of 2.30B. Therefore, the gross margin over that period was 28.9%.

NDSN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported an operating income of 197.20M and revenue of 740.85M, resulting in an operating margin of 26.6%.

AVY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Avery Dennison Corporation reported an operating income of 271.90M and revenue of 2.30B, resulting in an operating margin of 11.8%.

NDSN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nordson Corporation reported a net income of 117.32M and revenue of 740.85M, resulting in a net margin of 15.8%.

AVY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Avery Dennison Corporation reported a net income of 168.10M and revenue of 2.30B, resulting in a net margin of 7.3%.

Frequently Asked Questions

Can I hold both NDSN and AVY in my portfolio?

NDSN and AVY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDSN or AVY?

NDSN has higher volatility (6.65%) compared to AVY (6.29%). In terms of maximum drawdown, NDSN dropped -73.62% vs AVY's -73.03%.

Which has better risk-adjusted returns?

NDSN currently has the higher Sharpe Ratio (1.82 vs -0.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.