H.B. Fuller Company
Rank #352Capital ReturnFUL · NYSE · Basic Materials
H.B. Fuller Company (FUL) — Rank #352 by gross profitability (GP/assets 0.20) · ROE 7.3% · Piotroski F-Score 5 / 9.
As-of 2026-09-15 · CIK 0000039368 · all metrics point-in-time as of the filing date.
About
H.B.
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Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Building Adhesive Solutions. The Hygiene, Health and Consumable Adhesives segment produces and supplies specialty industrial adhesives, such as thermoplastic, thermoset, reactive, water-based, and solvent-based products for applications in various markets, including packaging, converting, nonwoven and hygiene, and medical and beauty. The Engineering Adhesives segment produces and supplies high performance industrial adhesives comprising reactive, light cure, two-part liquids, polyurethane, silicone, film, and fast cure products to the durable assembly, performance wood and textile, transportation, electronics, clean energy, aerospace and defense, appliance, heavy machinery, and insulating glass markets. The Construction Adhesives segment provides products used for commercial roofing, heating, ventilation, and air conditioning and insulation applications, as well as caulks and sealants for the consumer market and professional trade. The company sells its products directly to customers, as well as through distributors and retailers in North America, Latin America, Europe, India, the Middle East, Africa, and the Asia Pacific. H.B.
Fuller Company was founded in 1887 and is headquartered in Saint Paul, Minnesota.
- Industry
- Specialty Chemicals
- Sector
- Basic Materials
- State
- MN
- Filer Category
- Large accelerated filer
- Fiscal Year End
- November 28
- Website
- hbfuller.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$2.71B
P/E (annual)
18.4
P/S (annual)
0.8
P/B
1.3
P/OCF (annual)
10.3
Shareholder Yield
-4.7%
Employees
7,100
Industry
Specialty Chemicals
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
2/3 passGrowth
1/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds3 of 5 thresholds not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
9.6%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 6.5% — per-share value needs a total required return of 16.1% once share-count change is priced in.
vs. own 6-year median revenue growth: 19.8%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
5.2%
r = 10% (base)
9.6%
r = 12%
13.5%
Net debt / market cap: 70.1%— material leverage inflates the implied growth read.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.20
Primary signal (Novy-Marx).
39th pctl of 34 SIC 28 peers
Return on equity
7.3%
Gross margin
31.1%
24th pctl of 34 SIC 28 peers
Revenue growth (YoY)
14.2%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
—
Revenue CAGR (5Y)
4.5%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.56
7th pctl of 31 SIC 28 peers (best = lowest)
Current ratio
1.80×
24th pctl of 34 SIC 28 peers
Quick ratio
0.95×
Net cash
-$1.96B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$121.22M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
-0.20
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.6%
Stock-based comp intensity.
Dividend safety
Composite score
3.5 / 5
Piotroski F-Score
F-Score
5 / 9
Fundamental-strength score (0-9).