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Fuller H B Co Financials

FUL
Source SEC Filings (10-K/10-Q) Data as of May 30, 2026 Currency USD FYE November

This page shows Fuller H B Co (FUL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FUL FY2025

Rising gross margin is doing the heavy lifting as sales stagnate and acquisitions keep the balance sheet leveraged.

From FY2023 to FY2025, gross margin climbed from 28.7% to 31.1% even though sales did not expand, so the company was extracting more gross profit from roughly the same volume base. But free cash flow fell from $259M to $121M, meaning that gain was being absorbed below gross profit rather than piling up as flexible cash.

The balance sheet looks acquisition-shaped: goodwill reached $1.68B while long-term debt sat at $2.02B, so a large share of assets reflects purchased businesses financed with leverage. That helps explain why the company is larger on paper than it is liquid in cash, and why financing costs matter to returns.

Liquidity is adequate but not cash-heavy; the current ratio was 1.7x, which suggests short-term obligations are covered. Cash was only $107M against annual operating cash flow of $263M, so balance-sheet flexibility depends more on continuing cash generation than on a large idle cushion.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 53 / 100
Financial Health Score 53/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Fuller H B Co's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth
30

Fuller H B Co's revenue declined 2.7% year-over-year, from $3.6B to $3.5B. This contraction results in a growth score of 30/100.

Leverage
47

Fuller H B Co has a moderate D/E ratio of 1.01. This balance of debt and equity financing earns a leverage score of 47/100.

Liquidity
48

Fuller H B Co's current ratio of 1.70 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
46

Fuller H B Co has a free cash flow margin of 3.5%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
73

Fuller H B Co earns a strong 7.6% return on equity (ROE), meaning it generates $8 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 73/100. This is up from 7.1% the prior year.

Piotroski F-Score Strong
7/9

Fuller H B Co passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.73x

For every $1 of reported earnings, Fuller H B Co generates $1.73 in operating cash flow ($263.5M OCF vs $152.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$3.5B
YoY-2.7%
5Y CAGR+4.5%
10Y CAGR+5.2%

Fuller H B Co generated $3.5B in revenue in fiscal year 2025. This represents a decrease of 2.7% from the prior year.

EBITDA
N/A
Net Income
$152.0M
YoY+16.7%
5Y CAGR+4.2%
10Y CAGR+5.8%

Fuller H B Co reported $152.0M in net income in fiscal year 2025. This represents an increase of 16.7% from the prior year.

EPS (Diluted)
$2.75
YoY+19.6%
5Y CAGR+3.1%
10Y CAGR+5.0%

Fuller H B Co earned $2.75 per diluted share (EPS) in fiscal year 2025. This represents an increase of 19.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$121.2M
YoY-25.7%
5Y CAGR-13.1%
10Y CAGR-2.2%

Fuller H B Co generated $121.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 25.7% from the prior year.

Cash & Debt
$107.2M
YoY-36.7%
5Y CAGR+1.3%
10Y CAGR-1.1%

Fuller H B Co held $107.2M in cash against $2.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.93
YoY+8.4%
5Y CAGR+7.4%
10Y CAGR+6.2%

Fuller H B Co paid $0.93 per share in dividends in fiscal year 2025. This represents an increase of 8.4% from the prior year.

Shares Outstanding
54M
YoY-0.7%
5Y CAGR+0.9%
10Y CAGR+0.8%

Fuller H B Co had 54M shares outstanding in fiscal year 2025. This represents a decrease of 0.7% from the prior year.

Margins & Returns

Gross Margin
31.1%
YoY+1.4pp
5Y CAGR+4.0pp
10Y CAGR+3.8pp

Fuller H B Co's gross margin was 31.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.

Operating Margin
N/A
Net Margin
4.4%
YoY+0.7pp
5Y CAGR-0.1pp
10Y CAGR+0.2pp

Fuller H B Co's net profit margin was 4.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity
7.6%
YoY+0.5pp
5Y CAGR-1.4pp
10Y CAGR-2.3pp

Fuller H B Co's ROE was 7.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.5 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$60.7M
YoY+53.5%
5Y CAGR+77.6%
10Y CAGR+12.1%

Fuller H B Co spent $60.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 53.5% from the prior year.

Capital Expenditures
$142.3M
YoY+2.2%
5Y CAGR+10.3%
10Y CAGR+9.3%

Fuller H B Co invested $142.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 2.2% from the prior year.

FUL Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q4'24 Q3'24 Q2'24
Revenue $950.3M+23.3% $770.8M-13.9% $894.8M+0.3% $892.0M-0.7% $898.1M-2.7% $923.3M+0.6% $917.9M+13.3% $810.4M
Cost of Revenue $630.6M+17.9% $534.8M-12.7% $612.7M+1.0% $606.9M-0.8% $611.7M-7.1% $658.4M+2.5% $642.2M+12.4% $571.2M
Gross Profit $319.7M+35.4% $236.0M-16.3% $282.1M-1.1% $285.1M-0.4% $286.4M+8.1% $264.9M-3.9% $275.7M+15.3% $239.2M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $202.4M+9.7% $184.4M+0.4% $183.6M+5.0% $175.0M-6.1% $186.3M-1.1% $188.5M+10.0% $171.4M-0.6% $172.4M
Operating Income N/A N/A N/A $110.1M+10.1% $100.0M+30.9% $76.4M-26.8% $104.3M+56.0% $66.9M
Interest Expense $32.8M-0.3% $32.9M+0.2% $32.8M-2.4% $33.6M-3.5% $34.9M+3.7% $33.6M-4.7% $35.3M+10.6% $31.9M
Income Tax $25.6M+244.7% $7.4M-37.8% $11.9M-27.8% $16.5M-49.5% $32.7M+315.0% $7.9M-56.8% $18.3M+133.7% $7.8M
Net Income $67.8M+222.2% $21.0M-29.2% $29.7M-55.7% $67.2M+60.6% $41.8M+668.3% -$7.4M-113.3% $55.4M+78.6% $31.0M
EPS (Diluted) $1.23+223.7% $0.38 N/A $1.22+60.5% $0.76 N/A $0.98+78.2% $0.55

FUL Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q4'24 Q3'24 Q2'24
Total Assets $5.3B+2.1% $5.2B+0.7% $5.2B+0.3% $5.2B+0.7% $5.1B+4.0% $4.9B-0.9% $5.0B+6.3% $4.7B
Current Assets $1.4B+9.7% $1.3B+1.0% $1.3B-2.9% $1.3B+0.5% $1.3B-0.4% $1.3B-2.3% $1.3B+2.6% $1.3B
Cash & Equivalents $114.1M+5.8% $107.9M+0.6% $107.2M-12.4% $122.5M+26.5% $96.8M-42.8% $169.4M+28.9% $131.4M-20.5% $165.2M
Inventory $526.7M+3.9% $506.8M+7.4% $472.0M-6.2% $503.0M+1.5% $495.6M+6.0% $467.5M-8.2% $509.0M+3.8% $490.2M
Accounts Receivable $622.7M+17.0% $532.2M-5.7% $564.3M+0.1% $563.6M-3.5% $584.0M+4.6% $558.3M-2.9% $574.8M+9.3% $525.7M
Goodwill $1.7B-0.2% $1.7B+1.0% $1.7B-0.1% $1.7B+0.7% $1.7B+9.0% $1.5B-3.7% $1.6B+7.1% $1.5B
Total Liabilities $3.2B+2.9% $3.2B-0.8% $3.2B-0.9% $3.2B-1.5% $3.3B+4.9% $3.1B-1.1% $3.1B+7.6% $2.9B
Current Liabilities $779.1M+17.0% $665.9M-10.4% $743.4M+10.3% $674.2M-2.6% $692.1M-3.8% $719.3M+2.0% $704.9M+7.9% $653.2M
Long-Term Debt $2.1B-0.2% $2.1B+2.9% $2.0B-3.1% $2.1B-1.5% $2.1B+5.1% $2.0B-0.5% $2.0B+10.4% $1.8B
Total Equity $2.1B+0.8% $2.1B+3.1% $2.0B+2.3% $2.0B+4.4% $1.9B+2.5% $1.8B-0.7% $1.8B+4.2% $1.8B
Retained Earnings $2.1B+2.7% $2.0B+0.4% $2.0B+0.8% $2.0B+2.8% $2.0B+1.6% $1.9B-1.0% $1.9B+4.4% $1.9B

FUL Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $121.1M+3148.4% -$4.0M-103.7% $106.7M+7.8% $99.0M-10.6% $110.7M+29.2% $85.7M-2.5% $87.8M+85.4% $47.4M
Capital Expenditures $46.7M-19.1% $57.7M+21.0% $47.7M+58.6% $30.1M-4.7% $31.6M+19.3% $26.4M+16.9% $22.6M-47.8% $43.3M
Free Cash Flow $74.5M+220.7% -$61.7M-204.4% $59.1M-14.3% $68.9M-12.9% $79.1M+33.6% $59.2M-9.2% $65.2M+1506.6% $4.1M
Investing Cash Flow -$54.2M+5.5% -$57.4M-15.7% -$49.6M-61.4% -$30.7M-0.4% -$30.6M-43.9% -$21.3M+49.4% -$42.0M+1.6% -$42.7M
Financing Cash Flow -$57.9M-218.8% $48.7M+165.7% -$74.2M-60.8% -$46.2M+53.4% -$99.0M-407.0% -$19.5M+33.2% -$29.2M-72.7% -$16.9M
Dividends Paid $13.2M+2.9% $12.8M+0.7% $12.7M+0.1% $12.7M+0.2% $12.7M+4.2% $12.2M+0.1% $12.1M+8.9% $11.2M
Share Buybacks $45.8M+1469.1% $2.9M+19580.0% -$15K-123.4% $64K-99.6% $16.3M+8609.6% $187K-98.9% $17.6M+182.9% $6.2M

FUL Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q4'24 Q3'24 Q2'24
Gross Margin 33.6%+3.0pp 30.6%-0.9pp 31.5%-0.4pp 32.0%+0.1pp 31.9%+3.2pp 28.7%-1.4pp 30.0%+0.5pp 29.5%
Operating Margin N/A N/A N/A 12.3%+1.2pp 11.1%+2.9pp 8.3%-3.1pp 11.4%+3.1pp 8.3%
Net Margin 7.1%+4.4pp 2.7%-0.6pp 3.3%-4.2pp 7.5%+2.9pp 4.7%+5.5pp -0.8%-6.8pp 6.0%+2.2pp 3.8%
Return on Equity 3.3%+2.2pp 1.0%-0.5pp 1.5%-1.9pp 3.4%+1.2pp 2.2%+2.6pp -0.4%-3.4pp 3.0%+1.3pp 1.8%
Return on Assets 1.3%+0.9pp 0.4%-0.2pp 0.6%-0.7pp 1.3%+0.5pp 0.8%+1.0pp -0.1%-1.3pp 1.1%+0.5pp 0.7%
Current Ratio 1.80-0.1 1.92+0.2 1.70-0.2 1.93+0.1 1.87+0.1 1.81-0.1 1.89-0.1 1.99
Debt-to-Equity 0.99-0.0 1.010.0 1.01-0.1 1.06-0.1 1.13+0.0 1.100.0 1.10+0.1 1.03
FCF Margin 7.8%+15.8pp -8.0%-14.6pp 6.6%-1.1pp 7.7%-1.1pp 8.8%+2.4pp 6.4%-0.7pp 7.1%+6.6pp 0.5%

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Frequently Asked Questions

Fuller H B Co (FUL) reported $3.5B in total revenue for fiscal year 2025. This represents a -2.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Fuller H B Co (FUL) revenue declined by 2.7% year-over-year, from $3.6B to $3.5B in fiscal year 2025.

Yes, Fuller H B Co (FUL) reported a net income of $152.0M in fiscal year 2025, with a net profit margin of 4.4%.

Fuller H B Co (FUL) reported diluted earnings per share of $2.75 for fiscal year 2025. This represents a 19.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

As of fiscal year 2025, Fuller H B Co (FUL) had $107.2M in cash and equivalents against $2.0B in long-term debt.

Fuller H B Co (FUL) had a gross margin of 31.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Fuller H B Co (FUL) had a net profit margin of 4.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Fuller H B Co (FUL) paid $0.93 per share in dividends during fiscal year 2025.

Fuller H B Co (FUL) has a return on equity of 7.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Fuller H B Co (FUL) generated $121.2M in free cash flow during fiscal year 2025. This represents a -25.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Fuller H B Co (FUL) generated $263.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Fuller H B Co (FUL) had $5.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Fuller H B Co (FUL) invested $142.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Fuller H B Co (FUL) spent $60.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Fuller H B Co (FUL) had 54M shares outstanding as of fiscal year 2025.

Fuller H B Co (FUL) had a current ratio of 1.70 as of fiscal year 2025, which is generally considered healthy.

Fuller H B Co (FUL) had a debt-to-equity ratio of 1.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Fuller H B Co (FUL) had a return on assets of 2.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Fuller H B Co (FUL) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Fuller H B Co (FUL) has an earnings quality ratio of 1.73x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Fuller H B Co (FUL) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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