Lincoln Electric (LECO) vs Nordson (NDSN)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Nordson (NDSN) has outperformed Lincoln Electric (LECO) over the past year, gaining 39.5% versus a gain of 7.0%. Over five years, LECO leads with a +86.4% price change compared with +33.6% for NDSN. Nordson is the larger company by market cap ($18.21 billion vs $14.10 billion), about 1.3 times the size, while Lincoln Electric is growing revenue faster (+5.6% vs +3.8%).
On valuation, Lincoln Electric trades at a lower forward P/E (20.7x vs 25.2x for Nordson). Lincoln Electric offers the higher dividend yield (1.21% vs 1.00%). Nordson converts more of its revenue into profit, with a net margin of 17.4% versus 12.3%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | LECO | NDSN |
|---|---|---|
| Share price | $258.78 | $326.87 |
| Market cap | $14.10B | $18.21B |
| 1-day change | -1.67% | -0.25% |
| YTD return | +7.99% | +35.95% |
| 1-year return | +6.96% | +39.50% |
| 5-year return | +86.43% | +33.57% |
| P/E ratio (TTM) | 25.85 | 33.08 |
| Forward P/E | 20.66 | 25.18 |
| EPS (TTM) | $10.01 | $9.88 |
| Dividend yield | 1.21% | 1.00% |
| Annual dividend | $3.12 | $3.28 |
| Revenue (latest FY) | $4.23B | $2.79B |
| Revenue growth (YoY) | +5.60% | +3.78% |
| Net income (latest FY) | $520.53M | $484.47M |
| Gross margin | 36.25% | 55.16% |
| Operating margin | 16.96% | 25.49% |
| Net margin | 12.30% | 17.35% |
| 52-week high | $310.00 | $339.12 |
| 52-week low | $216.22 | $223.29 |
| Distance from 52-week high | -16.52% | -3.61% |
| Analyst consensus | buy | none |
| Avg. price target upside | +17.83% | +6.99% |
| Average volume | 420.42K | 371.01K |
| Shares outstanding | 54.51M | 55.70M |
| Employees | 12,000 | 8,200 |
| Sector | Industrials | Industrials |
| Industry | Industrial Machinery/Components | Industrial Machinery/Components |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- NDSN has outperformed LECO by 32.5 percentage points over the past year.
- Nordson trades at a higher earnings multiple (33.1x vs 25.9x trailing P/E).
- Nordson is more profitable, keeping 17.4 cents of every revenue dollar as net income versus 12.3 cents for Lincoln Electric.
About Lincoln Electric
LECO stock →Lincoln Electric Holdings, Inc., through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products in the United States and internationally. It operates in three segments: Americas Welding, International Welding, and The Harris Products Group.
Industrials · Industrial Machinery/Components · 12,000 employees
About Nordson
NDSN stock →Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, medical components, and other fluids. The Industrial Precision Solutions segment provides dispensing, coating, and laminating systems for adhesives, lotions, liquids, and fibers to disposable products and roll goods; automated adhesive dispensing systems; components and systems for thermoplastic and biopolymer melt stream; fluid components, such as nozzles, pumps, and filters; smart components that measure and control the flow, quantity and location of dispensed fluid; control systems; and product assembly solutions.
Industrials · Industrial Machinery/Components · 8,200 employees
LECO vs NDSN FAQ
Which is bigger, Lincoln Electric or Nordson?
Nordson (NDSN) is larger, with a market capitalization of $18.21B compared with $14.10B for Lincoln Electric (LECO).
Which stock has performed better over the past year, LECO or NDSN?
NDSN returned +39.50% over the past 12 months, compared with +6.96% for LECO (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, LECO or NDSN?
LECO has the lower trailing P/E at 25.9, versus 33.1 for NDSN. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Lincoln Electric or Nordson?
Lincoln Electric has the higher yield at 1.21%, compared with 1.00% for Nordson.
Are Lincoln Electric and Nordson in the same industry?
Yes. Both are classified in the Industrial Machinery/Components industry within the Industrials sector.