NDSN — what changed in the latest 10-Q
A section-by-section comparison of NDSN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-21 vs the prior 10-Q · 2026-02-19
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +24 | −15 | ~6 | 9 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +3 | −3 | ~1 | 2 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-21
Consolidated financial results for the six months ended April 30, 2026 and April 30, 2025 were as follows:
(In thousands except for per-share amounts)April 30, 2026April 30, 2025Change
Apr 30, 2026% of TotalApr 30, 2025% of TotalOrganicAcquisitions / DivestituresCurrencyTotal
The IPS organic sales increase of 5.0 percent was driven by improving industrial coating and polymer processing systems demand, ongoing growth in precision agriculture end markets and stable demand in broader consumer and industrial end markets. MFS organic sales increased 7.8 percent due to growth …
The IPS organic sales increase of 4.1 percent was driven by balanced growth across most product lines with particular strength in industrial coating, precision agriculture and polymer processing product lines. MFS organic sales increased 5.3 percent driven by strong growth in engineered fluid soluti…
Text removed vs the prior filing · source: 10-Q · 2026-02-19
The IPS organic sales increase of 3.2 percent was driven by balanced growth across most product lines, with particular strength in Asia Pacific markets. MFS organic sales increased 2.7 percent driven by growth in fluid solutions product lines. The ATS organic sales increase of 20.7 percent was drive…
Jan 31, 2026% of TotalJan 31, 2025% of TotalOrganicAcquisitions / DivestituresCurrencyTotal
Gross margins were 54.7 percent and 54.6 percent for the three months ended January 31, 2026 and January 31, 2025, respectively. Selling and administrative expenses increased in support of higher sales but declined as a percentage of sales.
Segment EBITDA for the IPS, MFS and ATS segments and a reconciliation to consolidated operating profit were as follows for the three months ended January 31, 2026 and January 31, 2025, respectively:
Segment EBITDA for IPS decreased 380 basis points despite higher sales due to unfavorable product and geographic mix. Segment EBITDA for MFS increased 310 basis points due to favorable mix from divestiture of the contract manufacturing business and strong incremental performance on organic sales gro…
Other information
Text added vs the prior filing · source: 10-Q · 2026-05-21
3 This Rule 10b5‑1 trading plan, which was adopted on January 13, 2026, was inadvertently omitted from the Company’s Form 10‑Q for the quarter ended January 31, 2026, due to a clerical error and is being disclosed in this Form 10‑Q.
4 The Rule 10b5‑1 trading plan entered into on January 12, 2026, was terminated by Mr. Nagarajan on February 6, 2026, prior to its scheduled expiration date.
5 The Rule 10b5‑1 trading plan entered into on January 16, 2026, was terminated by Mr. Kelley on February 10, 2026, prior to its scheduled expiration date.
Text removed vs the prior filing · source: 10-Q · 2026-02-19
3 The 10b5-1 Plan originally adopted by Mr. Nagarajan on April 3, 2025, was terminated in connection with the adoption of a new Rule 10b5-1 Plan on January 12, 2026.
4 The Company’s prior disclosure in its Quarterly Report on Form 10‑Q for the quarterly period ended April 30, 2025 incorrectly stated that terminated Rule 10b5-1 Plan covered 40,000 shares. The correct number of shares covered under the terminated Rule 10b5-1 Plan was 41,800 shares.
5 Mr. Nagarajan's Rule 10b5-1 Plan provides for the potential sale of up to 41,800 shares of the Company’s common stock, all of which Mr. Nagarajan may acquire upon the exercise of outstanding stock options.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice