The Short Answer
Nordson stock (NDSN) is halal on the available financial screens, with an incomplete overall record. Precision industrial, medical and electronics equipment are generally permissible. The April 30, 2026 filing shows known asset-based ratios below the examined limits, but interest income and downstream end-use classification are not fully disclosed.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-14.
1,886.356 / 5,964.418
102.017 / 5,964.418
708.706 / 5,964.418
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 31.63%, cash/assets is 1.71% and receivables plus cash/assets is 11.88%; known ratios pass, but interest income is unavailable.
- Financial
- Pass
- Overall
- Incomplete
Known debt, liquidity and receivables-plus-cash ratios pass the examined MSCI total-assets limits; income and business classification remain incomplete. This is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable liquidity/assets are below the examined SAC limits; income and market-cap records remain incomplete.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed reproducible market-cap history is not stored; a spot estimate is not substituted.
Business-activity disclosure
Nordson manufactures precision dispensing, medical-fluid and advanced-technology equipment used in packaging, manufacturing, medical and electronics applications. Industrial and medical equipment are generally permissible, while the filing does not quantify every downstream end use into a school-specific prohibited-revenue numerator.
Limitation: The filing does not provide a reproducible market-cap denominator history or a universal prohibited-revenue and interest-income numerator.
Purification
Interest income is not separately disclosed; investors should seek qualified guidance and ZakatInvest does not prescribe a fixed percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Nordson's April 30, 2026 Form 10-Q.
- Interest-bearing debt is current maturities and notes payable of 50.000 plus long-term debt of 1,836.356; operating and finance leases are excluded.
- Cash is 102.017 and net receivables are 606.689.
- Second-quarter sales are 740.847; six-month sales were 1,410.308.
- The filing reports interest expense but does not isolate a reproducible interest-income numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
Debt is close to the examined asset-based limit, and the filing does not separately quantify interest income. ZakatInvest does not prescribe a fixed purification percentage.
Sharia Screening Methodology
Islamic scholars use several criteria to screen stocks:
- Business activity screen: Is the company's primary business halal?
- Debt ratio: Total debt / market cap must be under 33%
- Interest income: Interest income / total revenue must be under 5%
- Haram revenue: Revenue from haram sources must be under 5%
- Receivables ratio: Total receivables / total assets must be under 49–70% (varies by board)
Nordson's Business Activity
Nordson designs and manufactures precision dispensing equipment that applies adhesives, coatings, sealants, and other materials in industrial manufacturing. The company operates three segments:
- Industrial Precision Solutions: Adhesive dispensing for packaging, nonwoven products, and product assembly
- Medical and Fluid Solutions: Single-use medical components and fluid management for medical, biopharma, and electronics
- Advanced Technology Solutions: Test and inspection systems for electronics manufacturing
Industrial precision equipment manufacturing is unambiguously permissible. Nordson's products serve packaging, medical, electronics, and consumer goods producers — all clean end markets from a Sharia perspective.
Financial Ratios (April 30, 2026)
Using Nordson's latest Form 10-Q, stated in USD millions:
- Interest-bearing debt / total assets: 31.63% ✅ (1,886.356 / 5,964.418)
- Cash / total assets: 1.71% ✅ (102.017 / 5,964.418)
- Receivables + cash / total assets: 11.88% ✅ (708.706 / 5,964.418)
- Interest income: Not separately disclosed
The known asset-based ratios pass, but the income input, business-activity record and market-cap methods remain incomplete. Debt should be monitored because it is close to the examined threshold.
Concerns to Be Aware Of
1. Acquisition-Funded Debt
Nordson has used moderate amounts of debt to fund acquisitions including the Atrion deal in medical fluid components. Total debt remains well within Sharia thresholds, but investors should monitor pro-forma leverage after each transaction.
2. Interest Income on Cash
Nordson does not separately disclose interest income in this filing. Investors should seek qualified guidance; no fixed percentage is asserted.
No fixed purification action is prescribed on this page.
3. Cyclical End Markets
Several of Nordson's end markets — particularly electronics — are cyclical. This is a financial consideration rather than a Sharia issue.
How to Read the Quantitative Result
The known asset-based financial ratios pass, but the record is incomplete because interest income, downstream end-use classification and market-cap methods are not fully quantified. This is not an external agency classification.
Bottom Line
Nordson (NDSN) is halal on the available financial screens, with an incomplete overall record. The business is generally permissible and known ratios pass, but interest-income treatment and qualitative end-use review remain necessary.
For Muslim investors seeking precision equipment exposure, Nordson is a reasonable candidate for qualified, methodology-specific review.
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