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H. B. Fuller Company

FUL Basic Materials Specialty Chemicals

H. B. Fuller Company’s revenue for fiscal 2025 (year ended November 2025) was $3.5 billion, down 2.67% from fiscal 2024.

Revenue
+5.17%
EPS
+18.2%
Free cash flow
−58.4%
Total debt
−1.25%

Quarter to August 2026, against a year earlier

50.18 2.39 −4.55%
Market cap
$2.7B
P/E
13.8×
Fwd P/E
11.7×
Dividend yield
1.93%
F-score
7/9
Altman Z
2.16
Beneish M
−2.57
Dividend safety
79/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.51
Sold, $m 0.59
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — 2 — — — — 7 2 —
Sell — — — — — — — — 1 — — —
Insider Ownership 1.15%

Capital & Financial Ratios $m

Size
Market Cap 2,700.00
Revenue ttm 3,554.08
Net income ttm 197.76
Free cash flow ttm 108.85
Net debt Q 1,957.32
Valuation
P/E 13.79
Forward P/E 11.70
Price / sales 0.77
Forward P/S Powerpack
Price / FCF 25.00
Price / book 1.26
Financial health
Current ratio Q 1.82 (at or above 1.5: strong)
Debt / equity Q 0.95
Interest coverage Q 2.77
Growth
Revenue growth Q +5.17% (above 0%: growing)
Operating income growth Q +2.78% (above 0%: growing)
EPS, this year +14.39%
EPS, next year A +6.22%
Revenue, next year A +3.81%
EPS, past 5 yrs +3.11%
EPS, next 5 yrs A +10.42%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 1.5×; over the ten years it ranged from 1.2× in 2020 to 2.2× in 2017.
P/E against its own 10 years 3.45%
10-year low 10-year high
P/S against its own 10 years 6.60%
10-year low 10-year high
P/B against its own 10 years 1.36%
10-year low 10-year high
EV/Sales against its own 10 years 6.53%
10-year low 10-year high
EV/FCF against its own 10 years 76.69%
10-year low 10-year high

Dividends raised every year since 2018

Yield
1.93%
Annual rate
0.97
Payout ratio
27.0%
Growth, 2018–26
+5.86%/yr
  1. 0.62 ’18
  2. 0.64 ’19 +3
  3. 0.65 ’20 +2
  4. 0.67 ’21 +3
  5. 0.74 ’22 +11
  6. 0.81 ’23 +9
  7. 0.87 ’24 +8
  8. 0.93 ’25 +6
  9. 0.97 ’26 +5
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 179 169 107 97
Receivables 578 558 564 648
Inventory 442 467 472 583
Other 113 104 120 158
1,312 1,299 1,263 1,486
2023 2024 2025 Q'26
Payables 440 491 470 537
ST’ Debt — — — —
Other — — — —
693 719 743 818

Compound Annual Growth %

10y 5y 3y
Sales 5.24% 4.48% (2.51%)
Cash Flow 2.27% (4.49%) 0.90%
Earnings 5.78% 4.20% (5.54%)
Book Value 8.66% 7.71% 7.54%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.45 Actual 1.52

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.24 1.28 Beat by 0.04
Q1 FY26 0.56 0.57 Beat by 0.01
Q2 FY26 1.37 1.41 Beat by 0.04
Q3 FY26 1.45 1.52 Beat by 0.07
Q4 FY26 1.38 — Reports 13 January 2027

EPS $

Feb May Aug Nov Year
’26 0.38 1.23 1.44 — —
’25 0.24 0.76 1.22 0.54 2.75
’24 0.55 0.91 0.98 (0.13) 2.30
’23 0.39 0.73 0.67 0.80 2.59
’22 0.69 0.86 0.84 0.87 3.26
’21 0.56 0.90 0.58 0.93 3.23
’20 0.19 0.61 0.79 0.77 2.36
Fiscal quarters ending in the months shown.

Revenue $m

Feb May Aug Nov Year
’26 771 950 938 — —
’25 789 898 892 895 3,474
’24 810 917 918 923 3,569
’23 809 898 901 903 3,511
’22 856 993 941 958 3,749
’21 726 828 827 897 3,278
’20 647 675 691 778 2,790
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Feb May Aug Nov Year
’26 (4) 121 65 — —
’25 (53) 111 99 107 263
’24 47 82 88 86 302
’23 6 103 108 162 378
’22 (18) 9 58 208 257
’21 36 44 81 52 213
’20 34 74 85 139 332
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Feb May Aug Nov Year
’26 (61) 79 28 — —
’25 (85) 80 68 63 126
’24 5 35 66 59 164
’23 (41) 70 83 153 264
’22 (67) (10) 29 176 128
’21 1 30 56 33 120
’20 0 51 66 123 240
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to November

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Aug ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,095 2,306 3,041 2,897 2,790 3,278 3,749 3,511 3,569 3,474 3,554 +5.8% 3,606 3,866 3,996 +4.8%
Gross margin, % 28.92 25.97 27.23 27.85 27.12 25.79 25.70 28.74 29.75 31.11 32.34 +2.2 pt
EBT 163 61 157 173 158 217 252 234 183 215 261 +3.1%
EBT margin, % 7.80 2.63 5.15 5.97 5.68 6.62 6.72 6.67 5.12 6.20 7.36 (1.6) pt
Net income 122 59 171 131 124 161 180 145 130 152 198 +2.5%
Per share, $
Per share, $ Revenue 41.78 45.78 60.11 56.89 53.62 61.98 69.97 64.62 64.97 63.62 65.53 +4.8%
Earnings 2.48 1.16 3.38 2.57 2.38 3.31 3.37 2.67 2.37 2.78 3.64 +1.3%
Cash flow 3.90 3.30 5.01 5.29 6.37 4.03 4.79 6.96 5.51 4.83 5.34 +2.4%
Capex (1.18) (1.08) (1.29) (1.00) (1.76) (1.76) (2.40) (2.10) (2.51) (2.51) (3.33) +8.8%
Free cash flow 2.73 2.22 3.72 4.29 4.61 2.27 2.39 4.86 2.99 2.31 2.01 (1.8%)
Book value 18.71 20.88 22.79 24.01 26.55 30.20 30.06 32.32 33.31 36.69 39.97 +7.8%
Shares, m 50 50 51 51 52 53 54 54 55 55 54 +1.0%
Valuation, ×
Valuation, × P/E 19.02 49.19 14.23 19.27 21.99 23.91 23.83 28.45 32.34 20.91 13.79 25.3
P/S 1.12 1.24 0.80 0.87 0.98 1.18 1.15 1.17 1.18 0.92 0.77 1.1
P/B 2.51 2.71 2.12 2.06 1.97 2.42 2.67 2.34 2.31 1.59 1.26 2.3
EV/Sales 1.37 2.20 1.49 1.51 1.59 1.66 1.60 1.66 1.72 1.48 1.33 1.6
EV/FCF 21.06 45.29 24.06 20.03 18.45 45.38 46.92 22.03 37.24 40.82 43.46 32.1
Cash, $m
Cash, $m Operating cash flow 196 166 253 269 332 213 257 378 302 263 289 +3.4%
Capex (59) (54) (65) (51) (91) (93) (128) (114) (138) (137) (181) +9.8%
Free cash flow 137 112 188 218 240 120 128 264 164 126 109 (0.9%)
Balance, $m
Balance, $m Working capital 419 653 544 491 490 484 594 619 580 520 668 +2.4%
Net debt 524 2,226 2,082 1,851 1,656 1,530 1,656 1,657 1,841 1,910 1,957 +15.5%
Shareholders’ equity 938 1,052 1,153 1,223 1,382 1,597 1,611 1,756 1,830 2,003 2,168 +8.8%
Returns, %
Returns, % ROA 5.94 1.85 4.01 3.21 3.08 3.88 4.13 3.15 2.70 3.00 3.73 (2.9) pt
ROIC 8.47 2.28 4.60 4.59 4.49 5.05 6.17 6.50 5.93 5.67 5.77 (2.8) pt
ROE 13.43 5.97 15.53 11.01 9.50 10.83 11.24 8.61 7.27 7.93 9.58 (5.5) pt
People
People Employees 4,600 6,000 6,479 6,400 6,428 6,500 7,000 7,200 7,500 7,100 — +4.9%
Revenue/emp, $m 0.46 0.38 0.47 0.45 0.43 0.50 0.54 0.49 0.48 0.49 — +0.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Nov 2025 · latest quarter Aug 2026 · fundamentals updated 2 Oct 2026

H. B. Fuller Company vs peers in Specialty Chemicals (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CLMT Calumet, Inc. $3.8B — (loss-making) — (loss-making) +40.77% (above 0%: growing) n/m +450.65% (above 0%: growing) 1.27% (2.77%) Compare
CBT Cabot Corporation $3.8B 17.4× 17.2× +12.24% (above 0%: growing) +79.43% (above 0%: growing) −51.65% (below 0%: shrinking) 20.22% 11.99% Compare
ASH Ashland Inc. $3.5B 67.1× 39.4× +4.40% (above 0%: growing) n/m +400.00% (above 0%: growing) 35.94% 5.82% Compare
HWKN Hawkins, Inc. $3.2B 36.6× 36.3× +11.90% (above 0%: growing) +23.06% (above 0%: growing) +1.32% (above 0%: growing) 24.41% 13.35% Compare
WDFC WD-40 Company $3.0B 37.0× 32.3× +8.14% (above 0%: growing) −31.85% (below 0%: shrinking) +63.49% (above 0%: growing) 52.78% 10.78% Compare
FUL H. B. Fuller Company $2.7B 13.8× 11.7× +5.17% (above 0%: growing) +18.19% (above 0%: growing) −58.41% (below 0%: shrinking) 33.22% 12.07%
KWR Quaker Houghton $2.6B 27.2× 21.6× +10.27% (above 0%: growing) −0.42% (below 0%: shrinking) −92.40% (below 0%: shrinking) 35.54% 8.97% Compare
NGVT Ingevity Corporation $2.2B 42.0× 18.4× −5.25% (below 0%: shrinking) n/m −136.08% (below 0%: shrinking) 44.25% 19.13% Compare
CC The Chemours Company $1.9B — (loss-making) — (loss-making) +3.01% (above 0%: growing) +223.80% (above 0%: growing) −12.50% (below 0%: shrinking) 15.00% 14.87% Compare
Median of peers $3.1B 36.8× 27.0× +9.20% +23.06% −5.59% 29.98% 11.39%

All 61 Specialty Chemicals stocks →

Pay and ownership Proxy statement filed 4 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 8.83m 4.42m 115.23
2024 7.84m 7.39m 149.59
2023 5.05m 5.35m 147.95
2022 9.63m 12.91m 152.83
2021 11.80m 21.77m 139.05

Ownership

Directors and executive officers, together 1.83%
BlackRock, Inc. 14.29%
The Vanguard Group, Inc. 11.92%
State Street Corporation 5.48%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

H. B. Fuller Company (FUL) Latest News

27 Oct

Impact 4 · · Business Wire

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Zacks

19 Oct

Impact 4 · · Business Wire

15 Oct

Impact 4 · · Zacks

9 Oct

Impact 3 · · Trefis
Impact 3 · · MT Newswires

8 Oct

Impact 4 · · Business Wire

29 Sep

Impact 4 · · Investing.com
Impact 4 · · Business Wire

28 Sep

Impact 4 · · Business Wire

27 Sep

Impact 3 · · Simply Wall St.

25 Sep

Impact 4 · · Insider Monkey

24 Sep

Impact 4 · · GuruFocus.com
Impact 4 ·
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat earnings
Impact 4 · · Moby
Impact 3 · · The Motley Fool

23 Sep

Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Zacks

22 Sep

Impact 4 ·
Impact 3 · · Zacks

21 Sep

Impact 4 · · Business Wire

6 Sep

Impact 4 ·

24 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · InvestorsHub

FUL metrics, ten years each

stockrow.com/FUL · Data as of Oct 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com