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FUL

H.B. Fuller Company

FUL

H.B. Fuller Company • NYSE
$58.28 ▼ -0.66% (-0.39)
Market Cap $3.15 B
52w High $77.77
52w Low $47.56
Dividend Yield 0.93%
P/E 28.02
Volume 237.03K
Outstanding Shares 54.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $892.043M ▼ $174.974M ▼ $67.16M ▲ 7.529% ▲ $1.23 ▲ $161.856M ▲
Q2-2025 $898.095M ▲ $186.34M ▲ $41.828M ▲ 4.657% ▲ $0.77 ▲ $152.722M ▲
Q1-2025 $788.663M ▼ $180.628M ▼ $13.248M ▲ 1.68% ▲ $0.24 ▲ $93.351M ▲
Q4-2024 $923.284M ▲ $190.025M ▲ $-7.359M ▼ -0.797% ▼ $-2.51 ▼ $79.092M ▼
Q3-2024 $917.927M $171.388M $55.361M 6.031% $1.01 $151.621M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $122.458M ▲ $5.166B ▲ $3.207B ▼ $1.958B ▲
Q2-2025 $96.785M ▼ $5.132B ▲ $3.256B ▲ $1.875B ▲
Q1-2025 $105.743M ▼ $4.961B ▲ $3.183B ▲ $1.777B ▼
Q4-2024 $169.352M ▲ $4.933B ▼ $3.103B ▼ $1.829B ▼
Q3-2024 $131.412M $4.978B $3.137B $1.841B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $0 ▼ $98.987M ▼ $-30.717M ▼ $-46.154M ▲ $25.673M ▲ $68.928M ▼
Q2-2025 $41.845M ▲ $110.676M ▲ $-30.589M ▲ $-98.954M ▼ $-8.958M ▲ $79.126M ▲
Q1-2025 $13.264M ▲ $-52.907M ▼ $-121.361M ▼ $111.415M ▲ $-63.609M ▼ $-85.891M ▼
Q4-2024 $-7.252M ▼ $85.65M ▼ $-21.26M ▲ $-19.519M ▲ $37.94M ▲ $59.211M ▼
Q3-2024 $55.392M $87.812M $-42.044M $-29.208M $16.589M $65.194M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Engineering Adhesives
Engineering Adhesives
 $710.00M ▲$240.00M ▼$280.00M ▲$270.00M ▼
Hygiene Health and Consumable Adhesives
Hygiene Health and Consumable Adhesives
 $760.00M ▲$370.00M ▼$400.00M ▲$390.00M ▼
Total Segment
Total Segment
 $0 ▲$790.00M ▲$900.00M ▲$890.00M ▼
Construction Adhesives
Construction Adhesives
 $260.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown over the past five years, with only modest ups and downs, which suggests a fairly resilient demand profile for its adhesives across cycles. Profitability at the gross and operating level looks steady to slightly improving, showing decent cost control and pricing power in a challenging materials environment. However, net income and earnings per share have softened from their peak, indicating that below-the-line items such as interest, taxes, or integration-related costs are weighing more heavily. Overall, the business appears solidly profitable, but the recent drift down in earnings points to some pressure on the bottom line that investors should watch.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown steadily in size, with total assets and shareholder equity both moving up over time. Debt has also increased, reflecting an active acquisition and growth strategy, and now represents a meaningful portion of the capital structure. Cash on hand is relatively modest, so the company relies on its ongoing cash generation and access to credit rather than a large cash buffer. In short, the balance sheet supports continued operations and growth but comes with a noticeable level of leverage that adds financial risk if conditions turn weaker.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive and has generally improved over the five-year period, which is an important strength. After funding capital expenditures, free cash flow has remained solidly positive in every year, even if it fluctuates from one year to the next. Investment spending is disciplined rather than aggressive, suggesting a focus on incremental capacity and productivity rather than heavy, risky build-outs. This pattern of dependable free cash flow gives the company flexibility to service debt, invest in innovation, and support strategic acquisitions over time.

Competitive Edge

Competitive Edge H.B. Fuller is a focused, global adhesives specialist rather than a broad-based chemicals conglomerate, which helps it build deep expertise and strong brand recognition in its niche. Its products are often engineered into customers’ manufacturing processes, making them difficult and costly to replace and creating durable, “sticky” relationships. A wide geographic footprint and a very diversified customer base across many industries help soften the impact of downturns in any one sector. At the same time, the company faces ongoing competition from large chemical players and specialty peers, and it must continually prove its value to maintain pricing power and defend share.

Innovation and R&D

Innovation and R&D Innovation is clearly central to the company’s strategy, with a heavy emphasis on sustainable, high-performance adhesives tailored to specific customer needs. H.B. Fuller’s broad set of technologies and many technical centers worldwide enable it to co-develop custom solutions, which strengthens customer loyalty and supports premium positioning. The company is leaning into higher-growth, higher-value segments such as medical adhesives, electronics, electric vehicles, renewable energy, and sustainable packaging, where technical requirements are demanding and less commoditized. The main risk is that this innovation engine requires ongoing investment and successful commercialization; falling behind in technology or misjudging customer needs could erode its advantages over time.

Summary

Overall, H.B. Fuller looks like a mature, specialized industrial business with steady revenues, resilient operating margins, and reliable cash generation. Its balance sheet shows a clear use of debt to support growth, which amplifies both opportunities and risks if the macro environment weakens. The company’s competitive edge rests on its technical expertise, close customer relationships, global reach, and strong focus on sustainability-oriented and specialized applications. Future performance will likely hinge on its ability to keep innovating in higher-value markets, integrate acquisitions effectively, and translate that strength into renewed earnings growth while managing its leverage carefully.

NEWS

October 13, 2025 · 10:09 AM UTC

H.B. Fuller Introduces Fuller Impact to Strengthen Community Partnerships Worldwide

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October 8, 2025 · 8:00 AM UTC

H.B. Fuller Further Strengthens Board with Appointment of MedTech Leader Celine Martin to Support Growth in Medical Market

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October 7, 2025 · 11:00 AM UTC

H.B. Fuller Announces Upcoming Investor Day on October 20th

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October 2, 2025 · 1:38 PM UTC

H.B. Fuller Announces Quarterly Dividend

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September 24, 2025 · 4:05 PM UTC

H.B. Fuller Reports Third Quarter 2025 Results

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