NDSN vs. IEX

Last updated Jun 3, 2026

NDSN (Nordson Corporation) and IEX (IDEX Corporation) are both stocks. Both operate in the Specialty Industrial Machinery industry within the Industrials sector. Over the past 10 years, NDSN returned 13.76%/yr vs 11.05%/yr for IEX. At a 0.50 correlation, their price movements are largely independent.

Performance

NDSN vs. IEX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with NDSN having a 20.04% return and IEX slightly higher at 20.08%. Over the past 10 years, NDSN has outperformed IEX with an annualized return of 13.76%, while IEX has yielded a comparatively lower 11.05% 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%

IEX

• 1D: 2.19%
• 1M: -0.95%
• YTD: 20.08%
• 6M: 22.02%
• 1Y: 20.22%
• 3Y*: 1.97%
• 5Y*: 0.26%
• 10Y*: 11.05%

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

NDSN vs. IEX - 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%
IEX IDEX Corporation	20.08%	-13.69%	-2.35%	-3.80%	-2.22%	19.82%	17.22%	37.94%	-3.16%	48.53%

Correlation

The correlation between NDSN and IEX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 24, 1991	0.50

The correlation between NDSN and IEX shifts across timeframes, from 0.50 (all time) to 0.72 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NDSN : $16.15B IEX : $15.78B
EPS NDSN : $9.36 IEX : $6.77
PE Ratio NDSN : 30.74 IEX : 31.35
PEG Ratio NDSN : 12.05 IEX : 9.25
PS Ratio NDSN : 5.59 IEX : 4.51
PB Ratio NDSN : 5.04 IEX : 3.90
Total Revenue (TTM) NDSN : $2.90B IEX : $3.53B
Gross Profit (TTM) NDSN : $1.60B IEX : $1.57B
EBITDA (TTM) NDSN : $744.50M IEX : $885.40M

Return for Risk

NDSN vs. IEX — 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

IEX

IEX Risk / Return Rank: 62
IEX Sharpe Ratio Rank: 65
IEX Sortino Ratio Rank: 59
IEX Omega Ratio Rank: 59
IEX Calmar Ratio Rank: 65
IEX Martin Ratio Rank: 62

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. IEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nordson Corporation (NDSN) and IDEX Corporation (IEX). 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	IEX	Difference
Sharpe ratio Return per unit of total volatility	1.82	0.79	+1.03
Sortino ratio Return per unit of downside risk	2.64	1.24	+1.40
Omega ratio Gain probability vs. loss probability	1.30	1.16	+0.14
Calmar ratio Return relative to maximum drawdown	2.66	1.26	+1.40
Martin ratio Return relative to average drawdown	8.62	2.45	+6.17
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. IEX - Sharpe Ratio Comparison

The current NDSN Sharpe Ratio is 1.82, which is higher than the IEX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of NDSN and IEX, 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	IEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	0.79	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.01	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.46	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.14	+0.24

Drawdowns

NDSN vs. IEX - Drawdown Comparison

The maximum NDSN drawdown since its inception was -73.62%, smaller than the maximum IEX drawdown of -81.60%. Use the drawdown chart below to compare losses from any high point for NDSN and IEX.

Drawdown Indicators

	NDSN	IEX	Difference
Max Drawdown Largest peak-to-trough decline	-73.62%	-81.60%	+7.98%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-15.17%	+1.02%
Max Drawdown (3Y) Largest decline over 3 years	-39.15%	-34.60%	-4.55%
Max Drawdown (5Y) Largest decline over 5 years	-39.15%	-34.60%	-4.55%
Max Drawdown (10Y) Largest decline over 10 years	-44.24%	-35.52%	-8.72%
Current Drawdown Current decline from peak	-3.57%	-10.91%	+7.34%
Average Drawdown Average peak-to-trough decline	-13.25%	-11.44%	-1.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.36%	7.78%	-3.42%

Volatility

NDSN vs. IEX - Volatility Comparison

Nordson Corporation (NDSN) has a higher volatility of 6.65% compared to IDEX Corporation (IEX) at 5.63%. This indicates that NDSN's price experiences larger fluctuations and is considered to be riskier than IEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDSN	IEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	5.63%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	15.01%	16.90%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	25.74%	-5.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.66%	24.01%	+0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.43%	24.25%	+4.18%

Dividends

NDSN vs. IEX - Dividend Comparison

NDSN's dividend yield for the trailing twelve months is around 1.13%, less than IEX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEX IDEX Corporation	1.35%	1.58%	1.29%	1.16%	1.02%	0.90%	1.00%	1.12%	1.31%	1.10%	1.49%	1.62%
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. IEX - Profitability Comparison

The chart below illustrates the profitability comparison between Nordson Corporation and IDEX 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%.

IEX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported a gross profit of 398.10M and revenue of 886.90M. Therefore, the gross margin over that period was 44.9%.

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%.

IEX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported an operating income of 172.40M and revenue of 886.90M, resulting in an operating margin of 19.4%.

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%.

IEX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported a net income of 120.00M and revenue of 886.90M, resulting in a net margin of 13.5%.

Frequently Asked Questions

Can I hold both NDSN and IEX in my portfolio?

NDSN and IEX have a correlation of 0.70, 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 IEX?

NDSN has higher volatility (6.65%) compared to IEX (5.63%). In terms of maximum drawdown, NDSN dropped -73.62% vs IEX's -81.60%.

Which has better risk-adjusted returns?

NDSN currently has the higher Sharpe Ratio (1.82 vs 0.79), 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.