Loading…
Makes industrial adhesives, sealants and specialty coatings used in packaging, construction and other manufacturing.
Makes industrial adhesives, sealants and specialty coatings used in packaging, construction and other manufacturing.
Sells adhesives formulated to each customer's production line, with prices moved up or down as raw-material costs, mostly petroleum-based, change. Hygiene products such as diapers are the largest single end market. The 2017 purchase of Royal Adhesives & Sealants broadened it into engineered and construction products.
Moat: narrow (process know-how, customer qualification, scale). Formulations engineered into customer production lines create switching costs versus generic adhesives.
Headquarters: St. Paul, Minnesota, United States · Founded: 1887 · Employees: 7,100
Size H.B. Fuller (FUL) is a United States Materials company (Industrial Specialties) with a market value of $2.68B, the 1607th largest of 3,117 United States companies the cockpit tracks. Shares closed at $49.86 on 6 Nov 2026.
Performance Over six months the shares fell 18.6%, against +6.0% for the median peer and -1.1% for the United States market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 1.5% over the last twelve months (peer median +13.0%); the operating margin is 11.3% (peer median 13.5%).
Valuation It trades at 9.5× forward earnings against a peer median of 31.9× (4th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.1 points below its cost of capital (7.8% WACC).
Credit H.B. Fuller has 1 bond outstanding ($300M), rated B+ by the agencies.
Short interest Short interest is 4.4% of the free float (15 Oct 2026).
Next results Next results expected around 20 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.55B | $3.47B | $3.57B | $3.51B | $3.75B |
| Revenue growth | — | -3% | +2% | -6% | — |
| Gross profit | $1.16B | $1.09B | $1.07B | $1.02B | $964M |
| EBITDA | $586M | $550M | $544M | $539M | $469M |
| Net income | $198M | $152M | $130M | $145M | $180M |
| Free cash flow | $100M | $121M | $163M | $259M | $127M |
| Capital expenditure | $189M | $142M | $139M | $119M | $130M |
| Total debt | $2.05B | $2.08B | $2.08B | $1.91B | $1.81B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| H.B. Fuller FUL | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% |
| Henkel AG & Co. KGaA HEN.DE | $35.4B | +25% | -3% | 15% | 13.6× | -1.9% |
| 3M MMM | $95.7B | +30% | +2% | 21% | 19.2× | 11.3% |
| Sika SIKA.SW | $36.4B | +32% | -4% | 14% | 24.9× | 10.7% |
| Avery Dennison AVY | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FUL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | -15.1% | 6th highest of 21 |
| 6-month return | -18.6% | +6.0% | 7th lowest of 20 |
| Distance from 52-week high | -27.4% | -41.1% | 8th highest of 21 |
| Revenue growth (TTM) | +1.5% | +13.0% | 4th lowest of 21 |
| Operating margin | 11.3% | 13.5% | 10th lowest of 21 |
| Forward P/E | 9.5× | 31.9× | 4th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 21.7% | 5th least demanding of 14 |
| Growth delivered (Del g) | +4.5% | +12.0% | lowest of 14 |
| Hurdle (Req g minus delivered) | -1.0 pp | +2.3 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | -0.1 pp | +0.3 pp | 10th lowest of 21 |
| EV / EBITDA | 7.9× | 24.9× | 3rd cheapest of 11 |
| Net debt / EBITDA | 3.3× | 0.3× | 2nd most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| H.B. Fuller FUL | United States | $2.68B | -19% | +1% | 11% | 9.5× | 3.5% | +4.5% |
| DIC 4631.T | Japan | $2.68B | +25% | +6% | 7% | 9.3× | -1.0% | +8.5% |
| GCL Technology 3800.HK | Hong Kong | $2.71B | -30% | +25% | -22% | n/a | n/a | n/a |
| Jiangsu Pacific Quartz 603688.SS | China | $2.78B | -38% | +15% | 10% | 82.1× | n/a | n/a |
| Shenzhen Leading Semiconductor Industry 603991.SS | China | $2.60B | +12% | +996% | 10% | n/a | 21.7% | +12.0% |
| Xizang Gaozheng Civil Explosives 002827.SZ | China | $2.53B | +92% | -1% | 12% | 108.9× | n/a | n/a |
| Flat Glass 6865.HK | Hong Kong | $2.87B | -40% | -20% | -2% | n/a | 11.2% | +19.1% |
| Shaanxi Huaqin Technology Industry 688281.SS | China | $2.50B | -18% | +31% | 15% | 34.7× | 27.5% | +24.7% |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | n/a | n/a | n/a |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 6.2× | n/a | n/a |
| WD-40 WDFC | United States | $2.97B | +6% | +11% | 16% | 33.9× | 2.2% | +7.1% |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 36.2× | 38.0% | +12.1% |
| Himadri Speciality Chemical HSCL.NS | India | $3.04B | -8% | +25% | 20% | 31.9× | n/a | n/a |
| Kinik 1560.TW | Taiwan | $3.04B | +17% | +19% | 19% | 35.7× | 34.8% | +9.6% |
| UFP Technologies UFPT | United States | $2.35B | +32% | +9% | 15% | 28.3× | 17.8% | +27.4% |
| Zeon 4205.T | Japan | $2.34B | +6% | +4% | 11% | 9.1× | -1.5% | +6.4% |
| SKSHU Paint 603737.SS | China | $3.14B | -33% | 0% | 4% | 29.5× | 27.7% | +8.9% |
| Henan Huanghe Whirlwind 600172.SS | China | $2.27B | +29% | +13% | -30% | n/a | n/a | n/a |
| Grindwell Norton GRINDWELL.NS | India | $2.25B | +16% | +14% | 16% | 39.5× | 37.8% | +13.4% |
| Kansai Paint 4613.T | Japan | $3.23B | +29% | +3% | 8% | 19.1× | 2.3% | +10.1% |
| Jiangsu Shemar Electric 603530.SS | China | $2.23B | -44% | +17% | 29% | 26.2× | 23.4% | +21.1% |
H.B. Fuller has 1 bond outstanding with $300M face value. The agencies rate it B+.