FULNYSEAdhesives & SealantsFiscal year ends November 28
FULLER H B CO
Financials through Q3 FY2026, quarter ended Aug 29, 2026Last filing: 10-Q on Sep 24, 2026
$51.06−0.26 (-0.51%)
Close on Oct 19, 2026
- Market cap
- $2.80B
- P/E (TTM)
- 14.2
- Dividend yield
- 1.82%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
31.1%+4.0 pts over 5 years
Operating margin
–
Net margin
4.4%−0.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.7% | -2.5% | +4.5% | +5.2% | |
| Gross profit | +1.8% | +3.9% | +7.4% | +6.6% | |
| Net income | +16.7% | -5.5% | +4.2% | +5.8% | |
| EPS, diluted | +19.6% | -5.5% | +3.1% | +5.0% | |
| Free cash flow | -25.7% | -1.4% | -13.1% | -2.2% | |
| Dividend per share | +8.4% | +7.9% | +7.4% | +6.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 13.4% | 9.5% | 7.9% | |
| Return on assets | 5.9% | 3.1% | 3.0% | |
| Current ratio | 2.07 | 1.92 | 1.70 | |
| Debt to equity | 0.71 | 1.27 | 1.01 | |
| Net debt to EBITDA | 1.90× | 4.64× | – | |
| Interest coverage | 7.2× | 2.5× | – | |
| Inventory turnover | 6.0× | 6.2× | 5.1× | |
| Capex to revenue | 3.0% | 3.1% | 4.1% | |
| Diluted shares | 51M | 53M | 55M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Fuller H B generated $1.41B from operations and spent $951.50M on capital expenditure, dividends and share buybacks. 66% of that went back into the business.
Generated
$1.41B
Used
$951.50M
Capital expenditure$626.70M66%Dividends$215.33M23%Share buybacks$109.47M12%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin4.4%
×Asset turnover0.69×
×Equity multiplier2.64×
=Return on equity, FY20257.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.4% | 0.69× | 2.64× | 7.9% |
| FY2024 | 3.6% | 0.74× | 2.69× | 7.3% |
| FY2023 | 4.1% | 0.76× | 2.73× | 8.6% |
| FY2022 | 4.8% | 0.86× | 2.72× | 11.2% |
| FY2021 | 4.9% | 0.79× | 2.79× | 10.8% |
| FY2020 | 4.4% | 0.70× | 3.08× | 9.5% |
| FY2019 | 4.5% | 0.71× | 3.44× | 11.0% |
| FY2018 | 5.6% | 0.71× | 3.88× | 15.5% |
| FY2017 | 2.6% | 0.72× | 3.23× | 6.0% |
| FY2016 | 5.8% | 1.02× | 2.26× | 13.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$151.97M
- Cash generatingOperating cash flow above zero$263.49M
- Return on assets improvedROA up on the prior year2.8% → 3.1%
- Earnings backed by cashOperating cash flow above net income$263.49M vs $151.97M
- Less leverageLong-term debt to assets fell40.7% → 38.9%
- Better liquidityCurrent ratio rose1.81 → 1.70
- No dilutionShare count did not rise57M → 55M
- Gross margin improvedGross margin up on the prior year29.75% → 31.11%
- More efficientAsset turnover rose0.76 → 0.70