What is H. B. Fuller's operating income?

H. B. Fuller's total operating income in 2025 was $343.94 million, based on the following breakdown: Total Gross Profit: $1.08 billion Total Operating Expenses: $736.71 million

H. B. Fuller (FUL) Financials

$55.98 +0.07 (+0.13%)

Closing price 03:59 PM Eastern

Extended Trading

$56.02 +0.04 (+0.07%)

As of 06:18 PM Eastern

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Annual Income Statements for H. B. Fuller

This table shows H. B. Fuller's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/28/2015	12/3/2016	12/2/2017	12/1/2018	11/30/2019	11/28/2020	11/27/2021	12/3/2022	12/2/2023	11/30/2024	11/29/2025
Net Income / (Loss) Attributable to Common Shareholders	87	122	59	171	131	124	161	180	145	130	152
Consolidated Net Income / (Loss)	87	122	59	171	131	124	161	180	145	130	152
Net Income / (Loss) Continuing Operations	88	122	59	171	131	124	161	180	145	130	152
Total Pre-Tax Income	138	163	61	157	173	158	217	252	234	183	215
Total Operating Income	166	198	120	238	226	234	253	336	355	311	344
Total Gross Profit	568	606	599	828	807	757	845	964	1,009	1,062	1,081
Total Revenue	2,084	2,095	2,306	3,041	2,897	2,790	3,278	3,749	3,511	3,569	3,474
Operating Revenue	2,084	2,095	2,306	3,041	2,897	2,790	3,278	3,749	3,511	3,569	3,474
Total Cost of Revenue	1,516	1,489	1,707	2,213	2,090	2,034	2,433	2,785	2,502	2,507	2,393
Operating Cost of Revenue	1,516	1,489	1,707	2,213	2,090	2,034	2,433	2,785	2,502	2,507	2,393
Total Operating Expenses	402	407	479	590	581	523	593	628	654	751	737
Selling, General & Admin Expense	398	408	479	590	581	538	593	641	654	714	726
Other Operating Expenses / (Income)	-	-	-	-	-	-15	-	-13	-	37	11
Total Other Income / (Expense), net	-27	-35	-59	-81	-53	-75	-36	-84	-121	-128	-129
Interest Expense	25	27	44	111	103	87	78	92	135	133	133
Interest & Investment Income	-	2.05	3.93	12	12	11	9.48	7.78	3.94	4.68	4.82
Income Tax Expense	56	49	9.81	-6.36	49	42	63	77	94	56	67
Other Gains / (Losses), net	5.91	7.39	8.68	8.15	7.42	7.35	7.66	5.67	4.36	4.11	3.78
Net Income / (Loss) Attributable to Noncontrolling Interest	0.42	0.25	0.05	0.02	0.03	0.07	0.08	0.09	0.08	0.14	0.11
Basic Earnings per Share	$1.72	$2.43	$1.18	$3.38	$2.57	$2.38	$3.05	$3.37	$2.67	$2.37	$2.78
Weighted Average Basic Shares Outstanding	50.27M	50.14M	50.37M	50.59M	50.92M	52.04M	52.89M	53.58M	54.33M	54.93M	54.60M
Diluted Earnings per Share	$1.69	$2.37	$1.15	$3.29	$2.52	$2.36	$2.97	$3.26	$2.59	$2.30	$2.75
Weighted Average Diluted Shares Outstanding	51.39M	51.27M	51.62M	51.98M	51.98M	52.52M	54.32M	55.27M	55.96M	56.63M	55.36M
Weighted Average Basic & Diluted Shares Outstanding	50.40M	50.10M	50.40M	50.70M	51.26M	51.97M	52.83M	53.71M	54.21M	54.68M	54.31M
Cash Dividends to Common per Share	$0.51	$0.55	$0.59	$0.62	$0.64	$0.65	$0.67	$0.74	$0.81	$0.86	$0.93

This table shows H. B. Fuller's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025	8/30/2025	11/29/2025	2/28/2026	5/30/2026
Net Income / (Loss) Attributable to Common Shareholders	45	31	51	55	-7.36	13	42	67	30	21	68
Consolidated Net Income / (Loss)	45	31	51	55	-7.25	13	42	67	30	21	68
Net Income / (Loss) Continuing Operations	45	31	51	55	-7.25	13	42	67	30	21	68
Total Pre-Tax Income	86	38	73	72	-0.53	19	73	83	41	28	92
Total Operating Income	122	68	104	104	36	50	100	115	72	52	123
Total Gross Profit	274	239	282	276	265	227	286	285	282	236	320
Total Revenue	903	810	917	918	923	789	898	892	895	771	950
Operating Revenue	903	810	917	918	923	789	898	892	895	771	950
Total Cost of Revenue	629	571	635	642	658	562	612	607	613	535	631
Operating Cost of Revenue	629	571	635	642	658	562	612	607	613	535	631
Total Operating Expenses	152	171	178	171	229	177	186	170	210	184	197
Selling, General & Admin Expense	160	172	181	171	188	181	186	175	184	184	202
Other Operating Expenses / (Income)	-	-1.50	-3.63	-	-	-3.21	-	-5.31	27	-	-5.63
Total Other Income / (Expense), net	-35	-31	-31	-32	-36	-31	-27	-33	-31	-24	-31
Interest Expense	33	32	32	35	34	32	35	34	33	33	33
Interest & Investment Income	1.22	1.31	1.20	1.09	1.08	1.10	0.85	1.11	1.76	2.07	1.96
Income Tax Expense	42	7.81	22	18	7.89	5.95	33	17	12	7.42	26
Other Gains / (Losses), net	1.04	1.04	0.60	1.31	1.16	0.50	1.40	0.83	1.06	0.92	1.27
Net Income / (Loss) Attributable to Noncontrolling Interest	0.01	0.02	0.03	-0.02	0.11	0.02	0.02	0.07	-	0.00	0.00
Basic Earnings per Share	$0.84	$0.57	$0.93	$1.01	($0.14)	$0.24	$0.77	$1.23	$0.54	$0.38	$1.25
Weighted Average Basic Shares Outstanding	54.33M	54.70M	54.95M	54.98M	54.93M	55.00M	54.44M	54.43M	54.60M	54.73M	54.43M
Diluted Earnings per Share	$0.80	$0.55	$0.91	$0.98	($0.14)	$0.24	$0.76	$1.22	$0.53	$0.38	$1.23
Weighted Average Diluted Shares Outstanding	55.96M	56.57M	56.64M	56.65M	56.63M	56.03M	54.95M	55.16M	55.36M	55.51M	55.07M
Weighted Average Basic & Diluted Shares Outstanding	54.21M	54.49M	54.52M	54.63M	54.68M	54.19M	53.96M	54.09M	54.31M	54.49M	53.79M

This table details how cash moves in and out of H. B. Fuller's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/28/2015	12/3/2016	12/2/2017	12/1/2018	11/30/2019	11/28/2020	11/27/2021	12/3/2022	12/2/2023	11/30/2024	11/29/2025
Net Change in Cash & Equivalents	42	23	52	-44	-39	-12	-39	18	100	-10	-62
Net Cash From Operating Activities	211	196	166	253	269	332	213	257	378	302	263
Net Cash From Continuing Operating Activities	211	193	166	253	246	332	213	257	378	302	263
Net Income / (Loss) Continuing Operations	88	122	59	171	131	124	161	180	145	130	152
Consolidated Net Income / (Loss)	87	122	59	171	131	124	161	180	145	130	152
Depreciation Expense	48	49	51	69	67	68	72	73	80	91	92
Amortization Expense	27	28	36	76	74	71	71	74	80	84	87
Non-Cash Adjustments To Reconcile Net Income	3.88	14	13	-10.00	-20	-2.87	-6.71	2.35	-27	58	-5.41
Changes in Operating Assets and Liabilities, net	43	-21	6.19	-53	-6.48	72	-85	-73	101	-60	-61
Net Cash From Investing Activities	-259	-112	-1,801	-62	7.41	-109	-95	-375	-319	-407	-232
Net Cash From Continuing Investing Activities	-259	-112	-1,801	-62	7.41	-109	-95	-375	-319	-407	-232
Purchase of Property, Plant & Equipment	-59	-63	-55	-68	-62	-93	-96	-130	-119	-139	-142
Acquisitions	-218	-53	-1,745	3.50	-8.29	-9.50	-5.45	-251	-205	-274	-167
Purchase of Investments	0.00	0.00	-	-	-	-	-	-	0.00	0.00	-3.72
Sale of Property, Plant & Equipment	5.33	4.33	0.67	2.92	11	1.51	2.90	1.56	5.03	1.15	5.03
Divestitures	-	-	0.00	0.00	70	-	-	-	0.00	0.00	76
Other Investing Activities, net	12	-	-1.25	0.00	-3.75	-8.56	3.98	3.93	0.00	4.87	0.00
Net Cash From Financing Activities	104	-53	1,685	-229	-315	-239	-154	160	35	112	-108
Net Cash From Continuing Financing Activities	104	-53	1,685	-229	-315	-239	-154	160	35	112	-108
Repayment of Debt	-214	-15	-1,137	-186	-289	-518	-147	-157	-2,165	-1,770	-1,307
Repurchase of Common Equity	-19	-23	-25	-4.69	-3.03	-3.43	-2.68	-3.95	-2.57	-40	-61
Payment of Dividends	-26	-28	-30	-31	-32	-33	-35	-39	-43	-48	-50
Issuance of Debt	357	0.00	2,856	-13	1.66	304	0.00	335	2,233	1,933	1,300
Other Financing Activities, net	6.06	13	20	6.24	7.28	12	31	25	13	36	9.85
Other Net Changes in Cash	-5.29	-	-	-6.48	-0.14	5.46	-3.34	-	5.20	-18	15
Cash Interest Paid	27	30	44	109	107	69	63	84	137	135	133
Cash Income Taxes Paid	33	47	38	37	37	50	73	73	71	123	125

This table details how cash moves in and out of H. B. Fuller's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025	8/30/2025	11/29/2025	2/28/2026	5/30/2026
Net Change in Cash & Equivalents	85	-14	-50	17	38	-64	-8.96	26	-15	0.66	6.23
Net Cash From Operating Activities	162	47	82	88	86	-53	111	99	107	-3.97	121
Net Cash From Continuing Operating Activities	162	47	82	88	86	-53	111	99	107	-3.97	121
Net Income / (Loss) Continuing Operations	45	31	51	55	-7.25	13	42	67	30	21	68
Consolidated Net Income / (Loss)	45	31	51	55	-7.25	13	42	67	30	21	68
Depreciation Expense	20	23	22	22	24	22	23	23	23	24	24
Amortization Expense	21	20	19	22	22	21	22	22	22	22	22
Non-Cash Adjustments To Reconcile Net Income	-37	4.75	3.92	0.06	52	-15	12	17	-22	2.03	-1.24
Changes in Operating Assets and Liabilities, net	113	-32	-15	-12	-4.89	-94	12	-31	53	-73	8.53
Net Cash From Investing Activities	-20	-43	-301	-42	-21	-121	-31	-31	-50	-57	-54
Net Cash From Continuing Investing Activities	-20	-43	-301	-42	-21	-121	-31	-31	-50	-57	-54
Purchase of Property, Plant & Equipment	-9.59	-43	-47	-23	-26	-33	-32	-30	-48	-58	-47
Acquisitions	-11	0.00	-254	-20	0.20	-162	-	-0.06	-4.91	0.00	-12
Sale of Property, Plant & Equipment	0.77	0.57	0.13	0.35	0.10	0.48	0.96	-0.60	4.18	0.32	4.09
Net Cash From Financing Activities	-61	-17	178	-29	-20	111	-99	-46	-74	49	-58
Net Cash From Continuing Financing Activities	-61	-17	178	-29	-20	111	-99	-46	-74	49	-58
Repayment of Debt	-952	-204	-1,106	-251	-209	-360	-330	-366	-252	-231	-340
Repurchase of Common Equity	-0.01	-6.21	-16	-18	-0.19	-44	-16	-0.06	0.02	-2.92	-46
Payment of Dividends	-11	-11	-12	-12	-12	-12	-13	-13	-13	-13	-13
Issuance of Debt	900	195	1,302	236	200	526	259	329	186	288	339
Other Financing Activities, net	1.89	8.98	9.31	16	1.77	1.38	1.09	3.04	4.33	7.80	2.47

This table presents H. B. Fuller's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/28/2015	12/3/2016	12/2/2017	12/1/2018	11/30/2019	11/28/2020	12/31/2021	12/3/2022	12/2/2023	11/30/2024	11/29/2025
Total Assets	2,042	2,056	4,373	4,176	3,986	4,037	4,275	4,464	4,724	4,933	5,183
Total Current Assets	801	811	1,158	1,090	1,033	1,020	1,221	1,299	1,312	1,299	1,263
Cash & Equivalents	119	142	194	151	112	101	62	80	179	169	107
Accounts Receivable	365	351	474	495	493	515	615	607	578	558	564
Inventories, net	249	247	372	348	337	323	448	492	442	467	472
Other Current Assets	69	70	117	96	91	81	96	120	113	104	120
Plant, Property, & Equipment, net	513	515	670	637	630	671	695	734	825	882	935
Plant, Property & Equipment, gross	-	-	-	-	-	-	695	-	-	-	1,956
Accumulated Depreciation	-	-	-	-	-	-	-	-	-	-	1,021
Total Noncurrent Assets	728	729	2,545	2,450	2,323	2,346	2,358	2,431	2,587	2,752	2,984
Goodwill	354	366	1,337	1,305	1,282	1,312	1,299	1,393	1,487	1,532	1,680
Intangible Assets	213	205	1,002	908	799	756	687	702	729	770	806
Other Noncurrent Operating Assets	161	158	207	237	241	278	372	336	371	450	498
Total Liabilities & Shareholders' Equity	2,042	2,056	4,373	4,176	3,986	4,037	4,275	4,464	4,724	4,933	5,183
Total Liabilities	1,165	1,113	3,321	3,023	2,763	2,655	2,677	2,853	2,968	3,103	3,180
Total Current Liabilities	350	392	505	546	542	530	737	706	693	719	743
Accounts Payable	178	163	268	273	299	316	500	461	440	491	470
Accrued Expenses	57	51	84	76	61	84	86	89	108	97	134
Current Deferred & Payable Income Tax Liabilities	8.97	7.99	14	13	23	29	16	19	48	24	25
Current Employee Benefit Liabilities	52	52	85	78	79	84	110	108	96	106	114
Total Noncurrent Liabilities	815	721	2,817	2,477	2,221	2,125	1,940	2,147	2,275	2,384	2,436
Long-Term Debt	670	586	2,399	2,142	1,898	1,757	1,591	1,736	1,837	2,010	2,017
Noncurrent Employee Benefit Liabilities	76	74	71	71	80	89	72	53	50	52	51
Other Noncurrent Operating Liabilities	69	62	346	265	242	279	277	358	388	322	368
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	873	938	1,052	1,153	1,223	1,382	1,597	1,611	1,756	1,830	2,003
Total Preferred & Common Equity	873	938	1,051	1,153	1,222	1,381	1,597	1,610	1,755	1,829	2,003
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	873	938	1,051	1,153	1,222	1,381	1,597	1,610	1,755	1,829	2,003
Common Stock	106	110	125	147	182	210	266	320	356	377	352
Retained Earnings	995	1,091	1,127	1,286	1,384	1,474	1,601	1,741	1,843	1,925	2,026
Accumulated Other Comprehensive Income / (Loss)	-227	-263	-201	-280	-344	-303	-270	-451	-443	-473	-375
Noncontrolling Interest	0.41	0.39	0.39	0.40	0.44	0.54	0.59	0.62	0.71	1.19	-0.02

This table presents H. B. Fuller's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/4/2023	6/3/2023	9/2/2023	3/2/2024	6/1/2024	8/31/2024	3/1/2025	5/31/2025	8/30/2025	2/28/2026	5/30/2026
Total Assets	4,536	4,618	4,660	4,682	4,919	4,978	4,961	5,132	5,166	5,220	5,329
Total Current Assets	1,341	1,318	1,241	1,297	1,291	1,330	1,214	1,295	1,301	1,275	1,399
Cash & Equivalents	125	103	95	165	115	131	106	97	122	108	114
Accounts Receivable	566	587	576	526	571	575	525	584	564	532	623
Inventories, net	526	499	473	490	496	509	468	496	503	507	527
Other Current Assets	123	129	98	116	109	115	115	118	112	129	136
Plant, Property, & Equipment, net	757	787	801	823	839	861	844	868	890	957	968
Plant, Property & Equipment, gross	1,623	1,674	1,709	1,772	1,814	1,855	1,794	1,862	1,913	2,010	2,034
Accumulated Depreciation	866	886	908	949	975	994	950	994	1,024	1,053	1,066
Total Noncurrent Assets	2,438	2,513	2,617	2,562	2,789	2,787	2,903	2,970	2,976	2,988	2,962
Goodwill	1,391	1,441	1,491	1,487	1,578	1,592	1,624	1,670	1,682	1,697	1,693
Intangible Assets	697	722	747	702	813	806	835	848	829	791	767
Other Noncurrent Operating Assets	350	350	380	373	398	389	444	453	464	500	501
Total Liabilities & Shareholders' Equity	4,536	4,618	4,660	4,682	4,919	4,978	4,961	5,132	5,166	5,220	5,329
Total Liabilities	2,902	2,935	2,933	2,914	3,127	3,137	3,183	3,256	3,207	3,155	3,246
Total Current Liabilities	643	661	618	653	684	705	615	692	674	666	779
Accounts Payable	450	436	395	461	474	494	450	482	459	453	526
Accrued Expenses	96	99	103	78	83	87	81	97	106	123	137
Current Deferred & Payable Income Tax Liabilities	16	28	33	50	47	39	16	28	19	20	20
Current Employee Benefit Liabilities	52	67	75	63	78	84	67	85	90	69	96
Total Noncurrent Liabilities	2,258	2,274	2,314	2,261	2,443	2,432	2,568	2,564	2,533	2,489	2,467
Long-Term Debt	1,845	1,852	1,872	1,829	2,024	2,020	2,179	2,112	2,080	2,076	2,072
Noncurrent Employee Benefit Liabilities	54	54	55	51	51	52	52	55	56	52	51
Other Noncurrent Operating Liabilities	359	368	387	381	369	360	336	397	396	361	344
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,634	1,683	1,727	1,768	1,792	1,842	1,778	1,876	1,959	2,065	2,082
Total Preferred & Common Equity	1,633	1,682	1,726	1,768	1,791	1,841	1,777	1,875	1,958	2,065	2,082
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,633	1,682	1,726	1,768	1,791	1,841	1,777	1,875	1,958	2,065	2,082
Common Stock	327	334	348	364	365	371	340	332	342	364	329
Retained Earnings	1,753	1,782	1,809	1,862	1,901	1,944	1,926	1,955	2,009	2,034	2,089
Accumulated Other Comprehensive Income / (Loss)	-446	-434	-430	-459	-475	-474	-488	-413	-394	-333	-336
Noncontrolling Interest	0.66	0.67	0.68	0.72	0.72	0.73	1.22	1.29	1.33	0.00	0.00

This table displays calculated financial ratios and metrics derived from H. B. Fuller's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/28/2015	12/3/2016	12/2/2017	12/1/2018	11/30/2019	11/28/2020	11/27/2021	12/3/2022	12/2/2023	11/30/2024	11/29/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.99%	0.53%	10.09%	31.87%	-4.74%	-3.68%	17.48%	14.37%	-6.35%	1.65%	-2.67%
EBITDA Growth	40.76%	11.64%	-29.56%	113.69%	1.02%	-8.05%	15.06%	12.60%	8.70%	-7.40%	7.50%
EBIT Growth	64.92%	15.54%	-46.82%	154.99%	3.12%	-11.45%	22.14%	17.59%	8.68%	-14.72%	10.56%
NOPAT Growth	76.07%	40.56%	-27.92%	147.10%	-34.80%	6.48%	4.27%	29.94%	-5.90%	-1.84%	10.08%
Net Income Growth	73.67%	39.98%	-51.22%	187.95%	-23.59%	-5.39%	30.44%	11.72%	-19.63%	-10.07%	16.62%
EPS Growth	74.23%	40.24%	-51.48%	186.09%	-23.40%	-6.35%	25.85%	9.76%	-20.55%	-11.20%	19.57%
Operating Cash Flow Growth	608.04%	-7.05%	-15.01%	52.30%	6.26%	23.18%	-35.66%	20.25%	47.52%	-20.07%	-12.88%
Free Cash Flow Firm Growth	120.87%	782.71%	-1,562.36%	118.00%	4.79%	-35.85%	-60.07%	7.86%	12.77%	-141.08%	87.81%
Invested Capital Growth	6.14%	1.51%	120.10%	-1.79%	-4.93%	-1.12%	3.17%	4.57%	3.61%	7.50%	6.59%
Revenue Q/Q Growth	0.02%	1.30%	4.69%	3.06%	-1.00%	1.40%	3.79%	1.65%	-1.55%	0.58%	-0.81%
EBITDA Q/Q Growth	11.56%	-2.05%	-22.46%	26.43%	5.70%	10.47%	6.04%	5.01%	8.46%	-14.23%	7.62%
EBIT Q/Q Growth	16.91%	-3.31%	-38.09%	41.98%	9.62%	17.41%	9.25%	6.67%	11.57%	-21.63%	12.24%
NOPAT Q/Q Growth	16.75%	10.39%	-13.74%	4.24%	-11.57%	12.42%	0.30%	6.85%	-1.99%	-18.30%	21.09%
Net Income Q/Q Growth	19.66%	10.58%	-42.04%	38.65%	-6.53%	7.28%	6.81%	-1.41%	-2.25%	-28.61%	32.14%
EPS Q/Q Growth	19.86%	10.23%	-42.21%	38.82%	-6.67%	7.27%	5.69%	-1.81%	-2.63%	-29.01%	32.21%
Operating Cash Flow Q/Q Growth	727.08%	-5.00%	37.93%	25.19%	-12.25%	9.80%	-28.81%	154.28%	-10.86%	-20.09%	8.70%
Free Cash Flow Firm Q/Q Growth	100.90%	-14.51%	-2,942.72%	122.04%	-13.37%	4.04%	-32.92%	263.05%	-29.67%	-183.88%	-150.59%
Invested Capital Q/Q Growth	-4.45%	-2.35%	93.31%	-2.76%	-2.02%	-1.69%	-0.37%	-4.08%	-2.91%	-1.61%	-0.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.26%	28.92%	25.97%	27.23%	27.85%	27.12%	25.79%	25.70%	28.74%	29.76%	31.11%
EBITDA Margin	11.45%	12.72%	8.14%	13.19%	13.98%	13.35%	13.08%	12.87%	14.94%	13.61%	15.04%
Operating Margin	7.96%	9.47%	5.18%	7.82%	7.80%	8.38%	7.71%	8.95%	10.39%	8.72%	9.90%
EBIT Margin	7.84%	9.01%	4.35%	8.42%	9.11%	8.38%	8.71%	8.95%	10.39%	8.72%	9.90%
Profit (Net Income) Margin	4.18%	5.82%	2.58%	5.63%	4.52%	4.44%	4.93%	4.81%	4.13%	3.65%	4.38%
Tax Burden Percent	62.96%	74.59%	98.13%	109.26%	75.71%	78.17%	74.46%	71.61%	61.92%	71.39%	70.59%
Interest Burden Percent	84.68%	86.59%	60.37%	61.23%	65.48%	67.76%	75.96%	75.05%	64.19%	58.71%	62.63%
Effective Tax Rate	40.37%	29.93%	16.19%	-4.06%	28.59%	26.47%	29.07%	30.64%	39.94%	30.87%	31.16%
Return on Invested Capital (ROIC)	6.87%	9.31%	4.16%	7.55%	5.09%	5.59%	5.77%	7.22%	6.53%	6.07%	6.24%
ROIC Less NNEP Spread (ROIC-NNEP)	4.74%	6.38%	1.27%	4.04%	3.55%	2.88%	4.68%	3.99%	2.10%	1.23%	1.73%
Return on Net Nonoperating Assets (RNNOA)	2.95%	4.08%	1.80%	7.98%	5.92%	3.91%	5.07%	4.03%	2.08%	1.20%	1.69%
Return on Equity (ROE)	9.83%	13.40%	5.96%	15.53%	11.01%	9.51%	10.84%	11.25%	8.61%	7.27%	7.93%
Cash Return on Invested Capital (CROIC)	0.92%	7.82%	-70.88%	9.36%	10.15%	6.72%	2.65%	2.76%	2.99%	-1.16%	-0.13%
Operating Return on Assets (OROA)	8.35%	9.21%	3.12%	5.99%	6.47%	5.83%	6.87%	7.68%	7.94%	6.44%	6.80%
Return on Assets (ROA)	4.45%	5.95%	1.85%	4.01%	3.21%	3.09%	3.89%	4.13%	3.16%	2.70%	3.01%
Return on Common Equity (ROCE)	9.77%	13.33%	5.95%	15.53%	11.01%	9.50%	10.84%	11.24%	8.61%	7.27%	7.93%
Return on Equity Simple (ROE_SIMPLE)	9.98%	13.00%	5.66%	14.85%	10.70%	8.96%	10.11%	11.20%	8.26%	7.13%	0.00%
Net Operating Profit after Tax (NOPAT)	99	139	100	248	161	172	179	233	219	215	237
NOPAT Margin	4.75%	6.64%	4.34%	8.14%	5.57%	6.16%	5.47%	6.21%	6.24%	6.03%	6.82%
Net Nonoperating Expense Percent (NNEP)	2.13%	2.93%	2.89%	3.50%	1.54%	2.71%	1.10%	3.24%	4.43%	4.84%	4.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.90%	6.10%	5.60%	5.89%
Cost of Revenue to Revenue	72.74%	71.08%	74.03%	72.77%	72.15%	72.88%	74.21%	74.30%	71.26%	70.25%	68.89%
SG&A Expenses to Revenue	19.08%	19.46%	20.79%	19.41%	20.05%	19.29%	18.08%	17.10%	18.62%	20.00%	20.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.30%	19.45%	20.79%	19.41%	20.05%	18.74%	18.08%	16.75%	18.34%	21.04%	21.21%
Earnings before Interest and Taxes (EBIT)	163	189	100	256	264	234	285	336	365	311	344
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	239	266	188	401	405	373	429	483	525	486	522
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.07	2.27	2.45	1.98	1.97	1.93	2.36	2.60	2.34	2.30	1.57
Price to Tangible Book Value (P/TBV)	5.92	5.82	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.87	1.02	1.12	0.75	0.83	0.96	1.15	1.12	1.17	1.18	0.91
Price to Earnings (P/E)	20.86	17.51	43.44	13.32	18.36	21.55	23.34	23.23	28.35	32.25	20.74
Dividend Yield	1.43%	1.30%	1.15%	1.37%	1.35%	1.26%	0.93%	0.94%	1.06%	1.13%	1.59%
Earnings Yield	4.79%	5.71%	2.30%	7.51%	5.45%	4.64%	4.29%	4.31%	3.53%	3.10%	4.82%
Enterprise Value to Invested Capital (EV/IC)	1.63	1.79	1.46	1.35	1.38	1.42	1.69	1.78	1.69	1.65	1.29
Enterprise Value to Revenue (EV/Rev)	1.16	1.29	2.10	1.44	1.47	1.56	1.62	1.57	1.64	1.69	1.46
Enterprise Value to EBITDA (EV/EBITDA)	10.13	10.12	25.78	10.92	10.54	11.65	12.42	12.17	10.99	12.44	9.69
Enterprise Value to EBIT (EV/EBIT)	14.79	14.28	48.21	17.10	16.18	18.57	18.64	17.50	15.81	19.42	14.72
Enterprise Value to NOPAT (EV/NOPAT)	24.44	19.40	48.30	17.69	26.46	25.26	29.70	25.23	26.33	28.10	21.38
Enterprise Value to Operating Cash Flow (EV/OCF)	11.48	13.78	29.09	17.28	15.86	13.09	24.95	22.90	15.24	19.98	19.21
Enterprise Value to Free Cash Flow (EV/FCFF)	182.91	23.11	0.00	14.26	13.28	21.04	64.59	66.10	57.56	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.82	0.75	2.33	1.95	1.62	1.28	1.01	1.10	1.05	1.10	1.01
Long-Term Debt to Equity	0.76	0.62	2.28	1.86	1.55	1.27	1.00	1.08	1.05	1.10	1.01
Financial Leverage	0.62	0.64	1.41	1.97	1.67	1.36	1.08	1.01	0.99	0.98	0.98
Leverage Ratio	2.21	2.25	3.22	3.88	3.44	3.08	2.79	2.72	2.73	2.69	2.64
Compound Leverage Factor	1.87	1.95	1.95	2.37	2.25	2.09	2.12	2.04	1.75	1.58	1.65
Debt to Total Capital	45.17%	42.73%	69.98%	66.09%	61.81%	56.21%	50.30%	52.29%	51.15%	52.35%	50.17%
Short-Term Debt to Total Capital	3.33%	7.14%	1.51%	3.12%	2.52%	0.54%	0.78%	0.85%	0.05%	0.02%	0.00%
Long-Term Debt to Total Capital	41.84%	35.59%	68.47%	62.97%	59.29%	55.68%	49.52%	51.43%	51.10%	52.34%	50.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.29%	0.28%	0.01%	0.01%	0.01%	0.02%	0.02%	0.02%	0.02%	0.03%	0.00%
Common Equity to Total Capital	54.54%	56.99%	30.01%	33.90%	38.18%	43.77%	49.68%	47.70%	48.83%	47.62%	49.83%
Debt to EBITDA	3.03	2.64	13.06	5.60	4.89	4.76	3.77	3.66	3.50	4.14	3.86
Net Debt to EBITDA	2.53	2.11	12.03	5.23	4.61	4.49	3.63	3.49	3.16	3.79	3.66
Long-Term Debt to EBITDA	2.81	2.20	12.78	5.34	4.69	4.72	3.71	3.60	3.50	4.14	3.86
Debt to NOPAT	7.31	5.06	24.48	9.08	12.26	10.32	9.02	7.58	8.39	9.35	8.52
Net Debt to NOPAT	6.11	4.04	22.54	8.47	11.57	9.74	8.68	7.24	7.57	8.56	8.07
Long-Term Debt to NOPAT	6.77	4.21	23.95	8.65	11.76	10.22	8.88	7.46	8.38	9.35	8.52
Altman Z-Score	3.16	3.46	1.61	1.97	2.10	2.14	2.49	2.67	2.53	2.43	2.15
Noncontrolling Interest Sharing Ratio	0.55%	0.51%	0.25%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.29	2.07	2.29	2.00	1.91	1.92	1.66	1.84	1.89	1.81	1.70
Quick Ratio	1.38	1.26	1.32	1.18	1.12	1.16	0.92	0.97	1.09	1.01	0.90
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	13	117	-1,706	307	322	206	82	89	100	-41	-5.02
Operating Cash Flow to CapEx	395.00%	331.80%	306.52%	387.68%	529.37%	362.74%	228.90%	199.76%	331.61%	219.02%	191.98%
Free Cash Flow to Firm to Interest Expense	0.53	4.26	-39.03	2.77	3.11	2.38	1.06	0.97	0.74	-0.31	-0.04
Operating Cash Flow to Interest Expense	8.41	7.15	3.81	2.28	2.61	3.82	2.73	2.80	2.81	2.27	1.98
Operating Cash Flow Less CapEx to Interest Expense	6.28	5.00	2.56	1.69	2.11	2.77	1.54	1.40	1.96	1.23	0.95
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.07	1.02	0.72	0.71	0.71	0.70	0.79	0.86	0.76	0.74	0.69
Accounts Receivable Turnover	5.90	5.85	5.59	6.28	5.86	5.54	5.80	6.14	5.92	6.28	6.19
Inventory Turnover	6.07	6.00	5.51	6.14	6.10	6.16	6.31	5.93	5.36	5.51	5.09
Fixed Asset Turnover	4.10	4.07	3.89	4.65	4.58	4.29	4.80	5.25	4.51	4.18	3.82
Accounts Payable Turnover	8.60	8.74	7.91	8.17	7.30	6.61	5.96	5.80	5.56	5.38	4.98
Days Sales Outstanding (DSO)	61.84	62.37	65.28	58.14	62.25	65.94	62.89	59.48	61.61	58.11	58.98
Days Inventory Outstanding (DIO)	60.18	60.79	66.23	59.43	59.88	59.27	57.89	61.60	68.11	66.21	71.65
Days Payable Outstanding (DPO)	42.43	41.78	46.12	44.69	49.97	55.22	61.27	62.96	65.67	67.79	73.34
Cash Conversion Cycle (CCC)	79.59	81.38	85.38	72.87	72.16	69.99	59.50	58.12	64.05	56.53	57.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,481	1,504	3,309	3,250	3,090	3,055	3,152	3,296	3,415	3,671	3,913
Invested Capital Turnover	1.45	1.40	0.96	0.93	0.91	0.91	1.06	1.16	1.05	1.01	0.92
Increase / (Decrease) in Invested Capital	86	22	1,806	-59	-160	-34	97	144	119	256	242
Enterprise Value (EV)	2,417	2,696	4,839	4,378	4,270	4,340	5,322	5,874	5,768	6,043	5,062
Market Capitalization	1,808	2,130	2,581	2,281	2,402	2,667	3,766	4,188	4,108	4,200	3,152
Book Value per Share	$17.26	$18.63	$20.89	$22.74	$23.98	$26.70	$30.38	$30.20	$32.49	$33.48	$37.04
Tangible Book Value per Share	$6.05	$7.28	($25.57)	($20.92)	($16.85)	($13.27)	($7.40)	($9.09)	($8.52)	($8.67)	($8.92)
Total Capital	1,600	1,646	3,504	3,401	3,202	3,156	3,214	3,376	3,594	3,840	4,020
Total Debt	723	703	2,452	2,248	1,979	1,774	1,616	1,765	1,838	2,011	2,017
Total Long-Term Debt	670	586	2,399	2,142	1,898	1,757	1,591	1,736	1,837	2,010	2,017
Net Debt	604	561	2,258	2,097	1,867	1,673	1,555	1,685	1,659	1,841	1,910
Capital Expenditures (CapEx)	53	59	54	65	51	91	93	128	114	138	137
Debt-free, Cash-free Net Working Capital (DFCFNWC)	386	395	511	499	460	406	448	543	442	411	413
Debt-free Net Working Capital (DFNWC)	505	537	706	650	572	507	509	623	621	581	520
Net Working Capital (NWC)	452	419	653	544	491	490	484	594	619	580	520
Net Nonoperating Expense (NNE)	12	17	41	76	31	48	18	52	74	85	85
Net Nonoperating Obligations (NNO)	604	561	2,258	2,097	1,867	1,673	1,555	1,685	1,659	1,841	1,910
Total Depreciation and Amortization (D&A)	75	78	87	145	141	139	143	147	160	175	178
Debt-free, Cash-free Net Working Capital to Revenue	18.51%	18.84%	22.17%	16.41%	15.87%	14.55%	13.65%	14.47%	12.58%	11.52%	11.88%
Debt-free Net Working Capital to Revenue	24.23%	25.63%	30.60%	21.37%	19.74%	18.15%	15.54%	16.60%	17.69%	16.27%	14.97%
Net Working Capital to Revenue	21.67%	20.02%	28.30%	17.88%	16.96%	17.55%	14.77%	15.83%	17.64%	16.25%	14.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.72	$2.48	$1.16	$3.38	$2.57	$0.00	$3.05	$3.37	$2.67	$2.37	$2.78
Adjusted Weighted Average Basic Shares Outstanding	50.27M	50.14M	50.37M	50.59M	50.92M	0.00	52.89M	53.58M	54.33M	54.93M	54.60M
Adjusted Diluted Earnings per Share	$1.69	$2.42	$1.13	$3.29	$2.52	$0.00	$2.97	$3.26	$2.59	$2.30	$2.75
Adjusted Weighted Average Diluted Shares Outstanding	51.39M	51.27M	51.62M	51.98M	51.98M	0.00	54.32M	55.27M	55.96M	56.63M	55.36M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.08M	50.23M	50.43M	50.77M	51.26M	0.00	52.83M	53.71M	54.21M	54.68M	54.31M
Normalized Net Operating Profit after Tax (NOPAT)	102	139	100	167	161	172	179	233	219	215	237
Normalized NOPAT Margin	4.88%	6.63%	4.34%	5.48%	5.57%	6.16%	5.47%	6.21%	6.24%	6.03%	6.82%
Pre Tax Income Margin	6.64%	7.80%	2.63%	5.15%	5.97%	5.68%	6.62%	6.72%	6.67%	5.12%	6.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.53	6.90	2.30	2.31	2.56	2.69	3.66	3.67	2.71	2.34	2.58
NOPAT to Interest Expense	3.95	5.08	2.29	2.23	1.56	1.98	2.29	2.54	1.63	1.62	1.78
EBIT Less CapEx to Interest Expense	4.40	4.74	1.06	1.72	2.06	1.64	2.46	2.26	1.86	1.30	1.55
NOPAT Less CapEx to Interest Expense	1.82	2.92	1.05	1.64	1.07	0.93	1.10	1.14	0.78	0.58	0.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.49%	22.57%	49.80%	18.18%	24.73%	27.03%	21.59%	21.73%	29.93%	36.50%	33.06%
Augmented Payout Ratio	51.64%	41.62%	91.77%	20.91%	27.04%	29.80%	23.25%	23.92%	31.70%	66.84%	72.98%

This table displays calculated financial ratios and metrics derived from H. B. Fuller's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025	8/30/2025	11/29/2025	2/28/2026	5/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	54,311,782.00	54,487,294.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	54,311,782.00	54,487,294.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.39	1.24
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.77%	0.15%	2.10%	1.92%	2.26%	-2.68%	-2.07%	-2.82%	-3.09%	-	5.81%
EBITDA Growth	20.85%	11.01%	12.00%	11.46%	-49.67%	-17.56%	4.46%	6.96%	46.14%	-	11.26%
EBIT Growth	25.75%	8.76%	14.85%	14.66%	-70.67%	-27.38%	2.84%	8.41%	109.78%	-	14.68%
NOPAT Growth	-15.17%	32.23%	15.39%	37.65%	-59.73%	-37.53%	-18.02%	18.54%	111.63%	-	60.54%
Net Income Growth	-6.89%	41.50%	26.90%	46.98%	-116.12%	-57.23%	-18.43%	21.49%	509.91%	-	62.04%
EPS Growth	-8.05%	41.03%	24.66%	46.27%	-117.50%	-56.36%	-16.48%	24.49%	478.57%	-	61.84%
Operating Cash Flow Growth	-22.19%	753.94%	-20.64%	-18.92%	-47.03%	-211.73%	35.59%	12.73%	24.62%	-	9.46%
Free Cash Flow Firm Growth	19.73%	-98.34%	-311.14%	-478.57%	-306.23%	-15,045.74%	22.34%	31.59%	17.71%	-	55.19%
Invested Capital Growth	3.61%	1.53%	6.93%	6.09%	7.50%	12.20%	5.12%	4.97%	6.59%	-	3.83%
Revenue Q/Q Growth	0.25%	-10.24%	13.16%	0.09%	0.58%	-14.58%	13.88%	-0.67%	0.31%	-	23.28%
EBITDA Q/Q Growth	20.12%	-31.02%	29.92%	3.54%	-45.76%	13.00%	64.62%	6.02%	-27.25%	-	61.37%
EBIT Q/Q Growth	30.85%	-43.74%	52.44%	2.17%	-66.53%	39.31%	115.86%	7.71%	-37.93%	-	110.66%
NOPAT Q/Q Growth	7.15%	-12.46%	28.61%	14.10%	-68.65%	35.78%	74.88%	56.02%	-45.26%	-	135.51%
Net Income Q/Q Growth	19.52%	-31.08%	65.41%	7.88%	-113.11%	282.88%	215.48%	60.67%	-55.78%	-	222.19%
EPS Q/Q Growth	19.40%	-31.25%	65.45%	7.69%	-114.29%	271.43%	216.67%	60.53%	-56.56%	-	223.68%
Operating Cash Flow Q/Q Growth	49.32%	-70.72%	72.38%	7.58%	-2.46%	-161.77%	309.19%	-10.56%	7.83%	-	3,148.39%
Free Cash Flow Firm Q/Q Growth	-144.77%	104.52%	-6,705.74%	20.90%	-71.86%	-66.43%	66.18%	28.43%	-105.21%	-	58.02%
Invested Capital Q/Q Growth	-2.91%	0.55%	7.82%	0.79%	-1.61%	4.94%	1.01%	0.65%	-0.10%	-	0.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.33%	29.52%	30.75%	30.04%	28.69%	28.79%	31.89%	31.96%	31.53%	-	33.64%
EBITDA Margin	17.97%	13.81%	15.85%	16.40%	8.84%	11.70%	16.91%	18.05%	13.09%	-	17.78%
Operating Margin	13.46%	8.44%	10.97%	11.60%	3.86%	6.30%	11.93%	12.94%	8.01%	-	12.93%
EBIT Margin	13.46%	8.44%	11.37%	11.60%	3.86%	6.30%	11.93%	12.94%	8.01%	-	12.93%
Profit (Net Income) Margin	4.98%	3.83%	5.59%	6.03%	-0.79%	1.68%	4.66%	7.54%	3.32%	-	7.14%
Tax Burden Percent	52.18%	82.08%	70.16%	76.55%	1,376.28%	70.89%	57.19%	81.07%	73.22%	-	73.60%
Interest Burden Percent	70.96%	55.26%	70.15%	67.89%	-1.48%	37.68%	68.27%	71.83%	56.66%	-	74.95%
Effective Tax Rate	49.02%	20.68%	30.66%	25.26%	0.00%	31.77%	44.72%	19.93%	29.38%	-	27.77%
Return on Invested Capital (ROIC)	7.18%	6.90%	7.50%	8.49%	2.72%	4.18%	6.13%	9.49%	5.18%	-	8.26%
ROIC Less NNEP Spread (ROIC-NNEP)	6.17%	5.54%	6.50%	7.17%	0.88%	3.08%	5.24%	8.18%	4.07%	-	7.21%
Return on Net Nonoperating Assets (RNNOA)	6.12%	5.55%	6.90%	7.39%	0.86%	3.25%	5.61%	8.28%	3.98%	-	7.24%
Return on Equity (ROE)	13.30%	12.45%	14.39%	15.88%	3.58%	7.43%	11.74%	17.77%	9.16%	-	15.50%
Cash Return on Invested Capital (CROIC)	2.99%	5.28%	0.05%	1.35%	-1.16%	-6.14%	-0.29%	0.26%	-0.13%	-	3.19%
Operating Return on Assets (OROA)	10.29%	6.43%	8.42%	8.54%	2.85%	4.63%	8.38%	8.94%	5.50%	-	8.67%
Return on Assets (ROA)	3.81%	2.92%	4.14%	4.44%	-0.58%	1.24%	3.27%	5.20%	2.28%	-	4.79%
Return on Common Equity (ROCE)	13.30%	12.45%	14.39%	15.88%	3.58%	7.43%	11.73%	17.76%	9.16%	-	15.49%
Return on Equity Simple (ROE_SIMPLE)	0.00%	8.72%	9.21%	9.92%	0.00%	6.34%	5.50%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	62	54	70	80	25	34	59	92	51	38	89
NOPAT Margin	6.86%	6.69%	7.61%	8.67%	2.70%	4.30%	6.60%	10.36%	5.66%	-	9.34%
Net Nonoperating Expense Percent (NNEP)	1.01%	1.36%	1.00%	1.32%	1.84%	1.10%	0.89%	1.31%	1.11%	-	1.06%
Return On Investment Capital (ROIC_SIMPLE)	1.72%	1.51%	-	-	0.65%	0.86%	1.49%	2.29%	1.26%	0.91%	2.14%
Cost of Revenue to Revenue	69.67%	70.48%	69.25%	69.96%	71.31%	71.21%	68.11%	68.04%	68.48%	-	66.36%
SG&A Expenses to Revenue	17.77%	21.27%	19.79%	18.67%	20.41%	22.90%	20.75%	19.62%	20.52%	-	21.30%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	16.87%	21.08%	19.79%	18.44%	24.83%	22.50%	19.95%	19.02%	23.52%	-	20.70%
Earnings before Interest and Taxes (EBIT)	122	68	104	106	36	50	107	115	72	58	123
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	162	112	145	151	82	92	152	161	117	105	169
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.34	2.40	2.42	2.54	2.30	1.75	1.61	1.68	1.57	-	1.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	1.17	1.21	1.23	1.32	1.18	0.87	0.86	0.94	0.91	-	1.00
Price to Earnings (P/E)	28.35	27.57	26.25	25.58	32.25	27.57	29.35	28.68	20.74	-	18.80
Dividend Yield	1.06%	1.04%	1.05%	1.00%	1.13%	1.57%	1.62%	1.50%	1.59%	-	1.48%
Earnings Yield	3.53%	3.63%	3.81%	3.91%	3.10%	3.63%	3.41%	3.49%	4.82%	-	5.32%
Enterprise Value to Invested Capital (EV/IC)	1.69	1.72	1.69	1.76	1.65	1.34	1.30	1.34	1.29	-	1.35
Enterprise Value to Revenue (EV/Rev)	1.64	1.68	1.77	1.85	1.69	1.46	1.43	1.50	1.46	-	1.55
Enterprise Value to EBITDA (EV/EBITDA)	10.99	10.98	11.32	11.58	12.44	11.11	10.67	10.83	9.69	-	9.87
Enterprise Value to EBIT (EV/EBIT)	15.81	15.85	16.27	16.53	19.42	17.71	17.07	17.14	14.72	-	14.78
Enterprise Value to NOPAT (EV/NOPAT)	26.33	25.54	25.83	24.92	28.10	26.56	28.27	26.87	21.38	-	19.78
Enterprise Value to Operating Cash Flow (EV/OCF)	15.24	14.07	15.64	17.33	19.98	25.61	21.80	21.67	19.21	-	16.88
Enterprise Value to Free Cash Flow (EV/FCFF)	57.56	32.88	3,831.03	133.68	0.00	0.00	0.00	529.48	0.00	-	43.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.05	1.04	1.13	1.10	1.10	1.23	1.13	1.06	1.01	-	1.00
Long-Term Debt to Equity	1.05	1.03	1.13	1.10	1.10	1.23	1.13	1.06	1.01	-	1.00
Financial Leverage	0.99	1.00	1.06	1.03	0.98	1.05	1.07	1.01	0.98	-	1.00
Leverage Ratio	2.73	2.71	2.74	2.70	2.69	2.72	2.74	2.67	2.64	-	2.64
Compound Leverage Factor	1.94	1.50	1.93	1.83	-0.04	1.02	1.87	1.92	1.50	-	1.98
Debt to Total Capital	51.15%	50.87%	53.05%	52.32%	52.35%	55.07%	52.96%	51.50%	50.17%	-	49.88%
Short-Term Debt to Total Capital	0.05%	0.04%	0.04%	0.02%	0.02%	0.01%	0.00%	0.00%	0.00%	-	0.00%
Long-Term Debt to Total Capital	51.10%	50.83%	53.01%	52.30%	52.34%	55.06%	52.96%	51.50%	50.17%	-	49.88%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%	0.03%	0.00%	-	0.00%
Common Equity to Total Capital	48.83%	49.11%	46.93%	47.66%	47.62%	44.90%	47.00%	48.46%	49.83%	-	50.12%
Debt to EBITDA	3.50	3.40	3.68	3.57	4.14	4.68	4.47	4.29	3.86	-	3.75
Net Debt to EBITDA	3.16	3.09	3.47	3.34	3.79	4.45	4.26	4.03	3.66	-	3.55
Long-Term Debt to EBITDA	3.50	3.40	3.67	3.57	4.14	4.68	4.47	4.29	3.86	-	3.75
Debt to NOPAT	8.39	7.91	8.38	7.68	9.35	11.18	11.84	10.64	8.52	-	7.52
Net Debt to NOPAT	7.57	7.20	7.91	7.18	8.56	10.64	11.30	10.01	8.07	-	7.11
Long-Term Debt to NOPAT	8.38	7.90	8.38	7.67	9.35	11.18	11.84	10.64	8.52	-	7.52
Altman Z-Score	2.36	2.39	2.31	2.37	2.25	2.02	1.99	2.06	1.98	-	2.07
Noncontrolling Interest Sharing Ratio	0.04%	0.04%	0.04%	0.04%	0.05%	0.05%	0.05%	0.05%	0.03%	-	0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.89	1.99	1.89	1.89	1.81	1.97	1.87	1.93	1.70	-	1.80
Quick Ratio	1.09	1.06	1.00	1.00	1.01	1.03	0.98	1.02	0.90	-	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-57	2.58	-170	-135	-231	-385	-130	-93	-191	-143	-60
Operating Cash Flow to CapEx	1,833.38%	110.83%	174.55%	394.41%	325.23%	-162.76%	361.82%	322.92%	245.37%	-	284.43%
Free Cash Flow to Firm to Interest Expense	-1.71	0.08	-5.27	-3.81	-6.88	-12.01	-3.73	-2.77	-5.83	-	-1.83
Operating Cash Flow to Interest Expense	4.86	1.48	2.53	2.49	2.55	-1.65	3.17	2.94	3.25	-	3.70
Operating Cash Flow Less CapEx to Interest Expense	4.59	0.15	1.08	1.86	1.76	-2.67	2.30	2.03	1.93	-	2.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.76	0.74	0.74	0.74	0.74	0.70	0.69	0.69	-	0.67
Accounts Receivable Turnover	5.92	6.43	6.10	6.17	6.28	6.75	6.11	6.15	6.19	-	5.81
Inventory Turnover	5.36	4.88	4.97	5.05	5.51	5.21	4.99	4.82	5.09	-	4.67
Fixed Asset Turnover	4.51	4.45	4.34	4.27	4.18	4.26	4.14	4.00	3.82	-	3.82
Accounts Payable Turnover	5.56	5.44	5.43	5.58	5.38	5.48	5.18	5.12	4.98	-	4.73
Days Sales Outstanding (DSO)	61.61	56.75	59.84	59.19	58.11	54.09	59.76	59.32	58.98	-	62.78
Days Inventory Outstanding (DIO)	68.11	74.82	73.47	72.31	66.21	70.05	73.16	75.73	71.65	-	78.23
Days Payable Outstanding (DPO)	65.67	67.06	67.21	65.45	67.79	66.58	70.53	71.32	73.34	-	77.15
Cash Conversion Cycle (CCC)	64.05	64.50	66.10	66.06	56.53	57.55	62.38	63.74	57.30	-	63.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,415	3,434	3,702	3,731	3,671	3,853	3,892	3,917	3,913	4,033	4,041
Invested Capital Turnover	1.05	1.03	0.99	0.98	1.01	0.97	0.93	0.92	0.92	-	0.88
Increase / (Decrease) in Invested Capital	119	52	240	214	256	419	189	186	242	181	149
Enterprise Value (EV)	5,768	5,912	6,239	6,561	6,043	5,178	5,042	5,254	5,062	-	5,450
Market Capitalization	4,108	4,245	4,328	4,670	4,200	3,102	3,025	3,294	3,152	-	3,492
Book Value per Share	$32.49	$32.31	$32.88	$33.77	$33.48	$32.50	$34.59	$36.28	$37.04	$38.03	$38.22
Tangible Book Value per Share	($8.52)	($7.71)	($11.01)	($10.21)	($8.67)	($12.47)	($11.87)	($10.26)	($8.92)	($7.79)	($6.93)
Total Capital	3,594	3,599	3,817	3,863	3,840	3,958	3,988	4,039	4,020	4,141	4,155
Total Debt	1,838	1,831	2,025	2,021	2,011	2,180	2,112	2,080	2,017	2,076	2,072
Total Long-Term Debt	1,837	1,829	2,024	2,020	2,010	2,179	2,112	2,080	2,017	2,076	2,072
Net Debt	1,659	1,666	1,910	1,890	1,841	2,074	2,016	1,958	1,910	1,968	1,958
Capital Expenditures (CapEx)	8.82	43	47	22	26	33	31	31	44	57	43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	442	480	494	495	411	494	506	504	413	502	506
Debt-free Net Working Capital (DFNWC)	621	645	608	626	581	600	602	627	520	609	620
Net Working Capital (NWC)	619	644	607	625	580	599	602	627	520	609	620
Net Nonoperating Expense (NNE)	17	23	18	24	32	21	17	25	21	17	21
Net Nonoperating Obligations (NNO)	1,659	1,666	1,910	1,890	1,841	2,074	2,016	1,958	1,910	1,968	1,958
Total Depreciation and Amortization (D&A)	41	44	41	44	46	43	45	46	45	46	46
Debt-free, Cash-free Net Working Capital to Revenue	12.58%	13.67%	13.98%	13.94%	11.52%	13.93%	14.33%	14.39%	11.88%	-	14.43%
Debt-free Net Working Capital to Revenue	17.69%	18.37%	17.23%	17.65%	16.27%	16.91%	17.08%	17.89%	14.97%	-	17.68%
Net Working Capital to Revenue	17.64%	18.33%	17.19%	17.62%	16.25%	16.90%	17.08%	17.89%	14.97%	-	17.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.84	$0.57	$0.93	$1.01	($0.14)	$0.24	$0.77	$1.23	$0.54	$0.38	$1.25
Adjusted Weighted Average Basic Shares Outstanding	54.33M	54.70M	54.95M	54.98M	54.93M	55.00M	54.44M	54.43M	54.60M	54.73M	54.43M
Adjusted Diluted Earnings per Share	$0.80	$0.55	$0.91	$0.98	($0.14)	$0.24	$0.76	$1.22	$0.53	$0.38	$1.23
Adjusted Weighted Average Diluted Shares Outstanding	55.96M	56.57M	56.64M	56.65M	56.63M	56.03M	54.95M	55.16M	55.36M	55.51M	55.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	54.21M	54.49M	54.52M	54.63M	54.68M	54.19M	53.96M	54.09M	54.31M	54.49M	53.79M
Normalized Net Operating Profit after Tax (NOPAT)	62	54	70	80	25	34	59	92	51	38	89
Normalized NOPAT Margin	6.86%	6.69%	7.61%	8.67%	2.70%	4.30%	6.60%	10.36%	5.66%	-	9.34%
Pre Tax Income Margin	9.55%	4.66%	7.97%	7.88%	-0.06%	2.37%	8.15%	9.30%	4.54%	-	9.69%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.65	2.14	3.23	3.02	1.06	1.55	3.07	3.43	2.18	-	3.75
NOPAT to Interest Expense	1.86	1.70	2.16	2.26	0.74	1.06	1.70	2.75	1.54	-	2.71
EBIT Less CapEx to Interest Expense	3.38	0.80	1.78	2.39	0.28	0.54	2.20	2.52	0.86	-	2.45
NOPAT Less CapEx to Interest Expense	1.60	0.36	0.71	1.62	-0.04	0.04	0.82	1.84	0.22	-	1.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.93%	28.77%	27.54%	25.47%	36.50%	43.18%	47.64%	43.20%	33.06%	-	27.65%
Augmented Payout Ratio	31.70%	32.87%	40.77%	47.03%	66.84%	112.18%	123.63%	96.13%	72.98%	-	53.92%

Financials Breakdown Chart

Key Financial Trends

H.B. Fuller’s latest quarter shows a clear rebound in profitability from the prior quarter, but cash flow remains under pressure and leverage is still elevated. In Q1 2026, revenue fell 13.9% year over year to $770.8 million, yet operating income held up better than sales and earnings improved sharply from Q4 2025. The company remains profitable, but its balance sheet and cash generation still reflect a business managing through uneven demand and a fairly heavy debt load.

Profitability improved sequentially. Q1 2026 net income rose to $21.0 million from $29.7 million in Q4 2025, but the more important point is that Q4 had been a much weaker quarter relative to operating results. Operating margin also improved sharply in Q1 2026 versus Q4 2025, with operating income of $51.6 million on lower revenue.
Gross margin held up reasonably well. Q1 2026 gross profit was $236.0 million, or about 30.6% of revenue, versus 31.5% in Q4 2025. That suggests pricing and cost control are still supporting margins despite lower sales.
Operating expenses were contained. SG&A was $184.5 million in Q1 2026, down only modestly from $183.6 million in Q4 2025, indicating management is keeping overhead in check even as revenue slows.
Q1 2026 showed positive financing flexibility. The company issued $288.1 million of debt and repaid $231.4 million, which helped offset operating weakness and kept cash from falling more sharply.
Liquidity remains adequate for now. H.B. Fuller ended Q1 2026 with $107.9 million in cash and $1.28 billion in current assets, giving it some cushion despite weak operating cash flow.
Revenue has been choppy rather than steadily declining. Sales were $788.7 million in Q1 2025, $898.1 million in Q2 2025, $892.0 million in Q3 2025, $894.8 million in Q4 2025, and then $770.8 million in Q1 2026. The latest drop is notable, but the broader pattern suggests some cyclical volatility rather than a straight-line collapse.
Working capital remains a drag on cash flow. In Q1 2026, changes in operating assets and liabilities reduced cash by $73.4 million, which overwhelmed reported net income and pushed operating cash flow negative.
Inventory and receivables remain sizable. Q1 2026 inventories were $506.8 million and receivables were $532.2 million, which means a large amount of capital is tied up in the business.
Operating cash flow turned negative in Q1 2026. Net cash from operating activities was negative $4.0 million, a sharp step down from positive $106.7 million in Q4 2025 and positive $98.9 million in Q3 2025.
Debt remains high. Long-term debt was $2.08 billion at the end of Q1 2026, versus $2.49 billion of total current and noncurrent liabilities. Debt service continues to absorb a meaningful amount of cash, with interest expense of $32.9 million in the quarter.

Longer-term trend: Compared with 2023 and early 2024, H.B. Fuller has generally improved its earnings power, especially through 2025, but the company has not converted that into consistently strong cash generation. Earnings have recovered from the weak Q4 2024 period, yet operating cash flow can swing sharply because of working capital and financing activity. For retail investors, the key takeaway is that H.B. Fuller is still profitable and margin-conscious, but its latest quarter highlights a business that is not yet producing consistently strong free cash flow.

07/13/26 08:45 PM ETAI Generated. May Contain Errors.

H. B. Fuller Financials - Frequently Asked Questions

According to the most recent income statement we have on file, H. B. Fuller's fiscal year ends in November. Their fiscal year 2025 ended on November 29, 2025.

H. B. Fuller's net income appears to be on an upward trend, with a most recent value of $152.07 million in 2025, rising from $87.10 million in 2015. The previous period was $130.40 million in 2024. See H. B. Fuller's forecast for analyst expectations on what's next for the company.

H. B. Fuller's total operating income in 2025 was $343.94 million, based on the following breakdown:

Total Gross Profit: $1.08 billion
Total Operating Expenses: $736.71 million

Over the last 10 years, H. B. Fuller's total revenue changed from $2.08 billion in 2015 to $3.47 billion in 2025, a change of 66.7%.

H. B. Fuller's total liabilities were at $3.18 billion at the end of 2025, a 2.5% increase from 2024, and a 173.0% increase since 2015.

In the past 10 years, H. B. Fuller's cash and equivalents has ranged from $61.79 million in 2021 to $194.40 million in 2017, and is currently $107.21 million as of their latest financial filing in 2025.

Over the last 10 years, H. B. Fuller's book value per share changed from 17.26 in 2015 to 37.04 in 2025, a change of 114.5%.

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Financial statements for NYSE:FUL last updated on 6/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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H. B. Fuller (FUL) Financials

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H. B. Fuller (FUL) Financials

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