Axalta vs H.B. Fuller
Add, change or remove companies; up to four.
The short version
- Axalta is the larger business, with $5.1B of revenue in fiscal 2025 against $3.5B for H.B. Fuller.
- Axalta turned more of its sales into free cash flow (8.9% FCF margin, against 3.5%).
- Axalta earned a higher return on the capital invested in it (10.5%, against 6.3%).
- Investors pay more for each dollar of Axalta’s earnings: a P/E of 20.0x against 13.8x for H.B. Fuller.
| Latest fiscal year | AXTA · FY25 | FUL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $2.7B |
| Revenue | $5.1B | $3.5B |
| Free cash flow | $453M | $121M |
| Net income | $378M | $152M |
| Growth | ||
| Revenue growth | −3.0% | −2.7% |
| 5-year growth | 6.5% | 4.5% |
| Share count change | −1.5% | −2.3% |
| Profitability | ||
| Gross margin | 34.4% | 31.1% |
| Operating margin | 14.4% | — |
| Net margin | 7.4% | 4.4% |
| FCF margin | 8.9% | 3.5% |
| Return on capital | 10.5% | 6.3% |
| Return on equity | 17.8% | 7.9% |
| Balance sheet | ||
| Net debt | $2.5B | $1.9B |
| Net debt / EBITDA | 2.5x | 3.6x |
| Dividends and buybacks | $165M | $111M |
| Valuation & quality | ||
| P/E | 20.0x | 13.8x |
| Piotroski F-score | 7 | 7 |
Revenue
FY16
AXTA $4.1B
FUL $2.1B
FY17
AXTA $4.4B
FUL $2.3B
FY18
AXTA $4.7B
FUL $3.0B
FY19
AXTA $4.5B
FUL $2.9B
FY20
AXTA $3.7B
FUL $2.8B
FY21
AXTA $4.4B
FUL $3.3B
FY22
AXTA $4.9B
FUL $3.7B
FY23
AXTA $5.2B
FUL $3.5B
FY24
AXTA $5.3B
FUL $3.6B
FY25
AXTA $5.1B
FUL $3.5B
AXTA
FUL
Operating margin
FY16
AXTA 9.9%
FUL 9.5%
FY17
AXTA 8.3%
FUL 5.2%
FY18
AXTA 9.4%
FUL 7.8%
FY19
AXTA 10.9%
FUL 7.8%
FY20
AXTA 8.2%
FUL 7.8%
FY21
AXTA 10.5%
FUL 7.7%
FY22
AXTA 8.7%
FUL 8.6%
FY23
AXTA 11.3%
FUL 10.1%
FY24
AXTA 13.4%
FUL 9.8%
FY25
AXTA 14.4%
FUL —
AXTA
FUL
Free cash flow
FY16
AXTA $423M
FUL $132M
FY17
AXTA $415M
FUL $111M
FY18
AXTA $353M
FUL $185M
FY19
AXTA $461M
FUL $207M
FY20
AXTA $427M
FUL $244M
FY21
AXTA $437M
FUL $117M
FY22
AXTA $143M
FUL $127M
FY23
AXTA $437M
FUL $259M
FY24
AXTA $436M
FUL $163M
FY25
AXTA $453M
FUL $121M
AXTA
FUL
Return on capital
FY16
AXTA 5.4%
FUL 9.5%
FY17
AXTA 4.2%
FUL 4.2%
FY18
AXTA 7.7%
FUL 7.3%
FY19
AXTA 8.4%
FUL 5.1%
FY20
AXTA 7.3%
FUL 5.1%
FY21
AXTA 8.3%
FUL 5.6%
FY22
AXTA 6.8%
FUL 7.0%
FY23
AXTA 9.8%
FUL 6.4%
FY24
AXTA 11.9%
FUL 6.8%
FY25
AXTA 10.5%
FUL 6.3%
AXTA
FUL
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.