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H.B. Fuller

FUL NYSE Specialty Chemicals Financials FY2016–FY2025

H.B. Fuller's revenue fell 2.7% to $3.5 billion in fiscal 2025. Its net margin was 4.4%, up from 3.6% a year earlier. Free cash flow was $121 million, down 25.7%. It paid out $111 million in dividends and buybacks, 92% of free cash flow. The diluted share count fell 2.2%.

Last close · Oct 23, 2026

$49.61

2.5%
Value it Compare
Revenue Total sales reported in the income statement.
$3.5B
2.7% vs prior year
Operating margin Operating income as a share of revenue.
—
Net income Profit after all expenses, interest and tax.
$152M
16.7%
Free cash flow Cash from operations minus capital spending.
$121M
25.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.3%
0.4 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
13.8x
On $3.59 EPS (TTM)

About these figures. Operating margin for fiscal 2025 is blank: the 10-K's structured data doesn't include every figure it needs.

What H.B. Fuller does

No business description yet.

Legal name
FULLER H B CO
Fiscal year ends
November 29, 2025
Latest annual report
—
Accession · CIK
0001437749-26-001767
0000039368

Revenue and margins

H.B. Fuller had $3.5B of revenue in fiscal 2025, down 2.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 1.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $121M in fiscal 2025, 3.5% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

H.B. Fuller returned $111M to shareholders in fiscal 2025, 92% of free cash flow. The diluted share count fell 2.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value H.B. Fuller yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.9B and divides by 55.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 13.8x · peers 30.6x · sector 20.6x.

Balance sheet

Cash, debt and the ratios that show how comfortably H.B. Fuller can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $61.8M$79.9M$180M$169M$107M
Debt incl. finance leases $1.6B$1.7B$1.9B$2.0B$2.0B
Net debt / EBITDA 3.9x3.6x3.3x3.5x3.6x
Debt / equity 1.0x1.1x1.1x1.1x1.0x
Interest coverage 3.2x3.5x2.6x2.6x2.6x
Current ratio 1.7x1.8x1.9x1.8x1.7x
Quick ratio 1.1x1.1x1.3x1.2x1.1x
Total assets $4.3B$4.5B$4.7B$4.9B$5.2B
Total liabilities $2.7B$2.9B$3.0B$3.1B$3.2B
Shareholders' equity $1.6B$1.6B$1.8B$1.8B$2.0B
Net debt (− = net cash) $1.5B$1.7B$1.7B$1.9B$1.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.8M

6 insiders

Sold, 12 months

$1.9M

2 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 29, 2026 Charles T LauberDirector Bought 2,005 $49.87 $0.1M Form 4
Sep 29, 2026 Srilata ZaheerDirector Bought 40 $49.97 $0.0M Form 4
Sep 28, 2026 Daniel L FlornessDirector Bought 2,030 $49.34 $0.1M Form 4
Sep 28, 2026 Srilata ZaheerDirector Bought 2,000 $49.06 $0.1M Form 4
Sep 28, 2026 Thomas W HandleyDirector Bought 2,000 $49.41 $0.1M Form 4
Sep 28, 2026 Trangsrud Teresa J RasmussenDirector Bought 2,042 $48.96 $0.1M Form 4
Aug 11, 2026 Nathan D. WeaverExec VP, Business Transform. Sold 9,561 $62.06 $0.6M Form 4
Apr 7, 2026 Celeste Beeks MastinPresident and CEO, Director Bought 5,170 $57.08 $0.3M Form 4
Nov 13, 2025 Nathan D. WeaverExec VP, Business Transform. Sold 7,075 $58.38 $0.4M Form 4
Oct 27, 2025 John J CorkreanExecutive VP and CFO Sold 14,222 $60.31 $0.9M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✓
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✕
F-score 5 / 94 / 97 / 9
Accruals ratio −5.1%−3.6%−2.2%
Altman Z'' 3.263.143.05

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
H.B. Fuller FUL $2.7B −2.7% — 3.5% 6.3% 13.8x 7
Avient AVNT $3.8B 0.6% 6.2% 6.0% 4.0% 22.2x 6 Compare →
Solstice Advanced Materials SOLS $9.5B 3.1% — 3.1% 12.2% 39.9x — Compare →
NewMarket NEU $8.0B −2.2% 20.0% 18.0% 16.3% 18.7x 5 Compare →
Element Solutions ESI $8.1B 3.8% 13.4% 8.9% 6.5% 39.1x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.1B $2.3B $3.0B $2.9B $2.8B $3.3B $3.7B $3.5B $3.6B $3.5B
Gross profit $606M $599M $828M $807M $757M $845M $964M $1.0B $1.1B $1.1B
Operating income $198M $120M $238M $226M $218M $253M $323M $355M $348M —
Interest expense $27.4M $43.7M $111M $103M $86.8M $78.1M $91.5M $135M $133M $133M
Pretax income $163M $60.6M $157M $173M $158M $217M $252M $234M $183M $215M
Income tax $48.9M $9.8M −$6.4M $49.4M $41.9M $63.0M $77.2M $93.5M $56.4M $67.1M
Net income $122M $59.4M $171M $131M $124M $161M $180M $145M $130M $152M
Diluted EPS $2.37 $1.15 $3.29 $2.52 $2.36 $2.97 $3.26 $2.59 $2.30 $2.75
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.06B 0.06B 0.06B 0.06B
Cash flow
Cash from operations $196M $166M $253M $269M $332M $213M $257M $378M $302M $264M
Capital expenditure $63.3M $54.9M $68.3M $62.0M $87.3M $96.1M $130M $119M $139M $142M
Free cash flow $132M $111M $185M $207M $244M $117M $127M $259M $163M $121M
Depreciation and amortization $77.7M $87.3M $145M $141M $139M $143M $147M $160M $175M $178M
Stock-based compensation $13.3M $17.5M $17.1M $24.0M $16.9M $22.4M $24.4M $19.9M $21.9M $22.1M
Acquisitions $52.5M $1.7B $3.5M $8.3M $9.5M $5.4M $251M $205M $274M $167M
Share buybacks $23.2M $21.8M $4.7M $3.0M $3.4M $2.7M $3.9M $2.6M $39.6M $60.7M
Dividends paid $27.5M $29.6M $31.1M $32.4M $33.5M $34.9M $39.2M $43.4M $47.6M $50.3M
Dividends and buybacks $50.8M $51.4M $35.8M $35.4M $36.9M $37.5M $43.2M $46.0M $87.2M $111M
Balance sheet
Cash and short-term investments $142M $194M $151M $112M $101M $61.8M $79.9M $180M $169M $107M
Total debt $666M $2.4B $2.2B $2.0B $1.8B $1.6B $1.7B $1.8B $2.0B $2.0B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $8.7M $9.0M $22.7M $9.5M $8.5M
Current assets $811M $1.2B $1.1B $1.0B $1.0B $1.2B $1.3B $1.3B $1.3B $1.3B
Current liabilities $392M $505M $546M $542M $530M $737M $706M $693M $719M $743M
Inventory $247M $372M $349M $337M $323M $448M $492M $442M $468M $472M
Property and equipment, net $515M $670M $637M $630M $671M $695M $734M $825M $882M $935M
Total assets $2.1B $4.4B $4.2B $4.0B $4.0B $4.3B $4.5B $4.7B $4.9B $5.2B
Total liabilities $1.1B $3.3B $3.0B $2.8B $2.7B $2.7B $2.9B $3.0B $3.1B $3.2B
Shareholders' equity $938M $1.1B $1.2B $1.2B $1.4B $1.6B $1.6B $1.8B $1.8B $2.0B
Margins
Gross margin 28.9% 26.0% 27.2% 27.9% 27.1% 25.8% 25.7% 28.7% 29.8% 31.1%
Operating margin 9.5% 5.2% 7.8% 7.8% 7.8% 7.7% 8.6% 10.1% 9.8% —
EBITDA margin 13.2% 9.0% 12.6% 12.7% 12.8% 12.1% 12.5% 14.7% 14.7% 15.2%
Net margin 5.8% 2.6% 5.6% 4.5% 4.4% 4.9% 4.8% 4.1% 3.7% 4.4%
FCF margin 6.3% 4.8% 6.1% 7.2% 8.8% 3.6% 3.4% 7.4% 4.6% 3.5%
Returns
Return on capital 9.5% 4.2% 7.3% 5.1% 5.1% 5.6% 7.0% 6.4% 6.8% 6.3%
Return on capital employed 11.8% 4.3% 6.4% 6.4% 6.3% 7.2% 8.9% 9.1% 8.5% 8.1%
Return on equity 13.4% 6.0% 15.5% 11.0% 9.5% 10.8% 11.3% 8.6% 7.3% 7.9%
Return on assets 5.9% 1.9% 4.0% 3.2% 3.1% 3.9% 4.1% 3.2% 2.7% 3.0%
Growth
Revenue growth 0.5% 10.1% 31.9% −4.7% −3.7% 17.5% 14.4% −6.4% 1.7% −2.7%
Net income growth 40.4% −51.2% 188.1% −23.6% −5.4% 30.5% 11.7% −19.6% −10.1% 16.7%
EPS growth 40.2% −51.5% 186.1% −23.4% −6.4% 25.9% 9.8% −20.6% −11.2% 19.6%
FCF growth −12.9% −15.9% 66.1% 12.0% 17.9% −52.0% 8.0% 104.9% −37.1% −25.7%
Share count change −0.2% 0.7% 0.7% 0.0% 1.0% 3.4% 1.8% 1.3% 1.2% −2.3%
Financial health
Net debt / EBITDA 1.9x 10.8x 5.4x 5.0x 4.6x 3.9x 3.6x 3.3x 3.5x 3.6x
Debt / equity 0.7x 2.3x 1.9x 1.6x 1.3x 1.0x 1.1x 1.1x 1.1x 1.0x
Interest coverage 7.2x 2.7x 2.1x 2.2x 2.5x 3.2x 3.5x 2.6x 2.6x 2.6x
Current ratio 2.1x 2.3x 2.0x 1.9x 1.9x 1.7x 1.8x 1.9x 1.8x 1.7x
Quick ratio 1.4x 1.6x 1.4x 1.3x 1.3x 1.1x 1.1x 1.3x 1.2x 1.1x
Capital allocation
Capex / revenue 3.0% 2.4% 2.2% 2.1% 3.1% 2.9% 3.5% 3.4% 3.9% 4.1%
Stock comp / revenue 0.6% 0.8% 0.6% 0.8% 0.6% 0.7% 0.7% 0.6% 0.6% 0.6%
Payouts / FCF 38.3% 46.2% 19.4% 17.1% 15.1% 32.0% 34.1% 17.7% 53.4% 91.6%
Quality scores
Piotroski F-score 7.0 5.0 6.0 5.0 6.0 6.0 6.0 5.0 4.0 7.0
Altman Z'' 4.6 2.3 2.6 2.8 3.0 3.0 3.2 3.3 3.1 3.1
Accruals ratio −3.6% −3.3% −1.9% −3.4% −5.2% −1.3% −1.7% −5.1% −3.6% −2.2%

Source: SEC EDGAR XBRL filings (CIK 0000039368). Data updated October 21, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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