H.B. Fuller Company (FUL)
NYSE:FUL
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H.B. Fuller Company
(NYSE:FUL)
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Rating:53Neutral
Price Target:
$65.00
▲(1.99% Upside)
Action:ReiteratedDate:03/26/26
FUL scores in the low-50s primarily due to weaker financial quality (sharp TTM revenue decline, elevated leverage, and poor cash conversion) and bearish technicals (below key moving averages with negative MACD). Partially offsetting these are a moderately supportive valuation and a cautiously positive earnings call featuring raised guidance and ongoing margin improvement, albeit alongside meaningful volume and supply-chain risks.
Positive Factors
Margin Expansion
Sustained margin expansion reflects durable pricing power and successful cost actions (Project Quantum Leap). Higher gross and EBITDA margins indicate the business can convert sales into cash more efficiently, supporting long‑term profitability even if volumes remain cyclical.
Negative Factors
Sharp Revenue Decline
A severe trailing revenue drop undermines scale economics and raises uncertainty about structural demand recovery. Sustained top‑line weakness compresses absolute margins and returns on invested capital, making multi‑period earnings and cash forecasts more fragile despite cost actions.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Expansion
Sustained margin expansion reflects durable pricing power and successful cost actions (Project Quantum Leap). Higher gross and EBITDA margins indicate the business can convert sales into cash more efficiently, supporting long‑term profitability even if volumes remain cyclical.
Read all positive factors
H.B. Fuller Company (FUL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.47B
Dividend Yield1.54%
Average Volume (3M)709.41K
Price to Earnings (P/E)42.7
Beta (1Y)0.83
Revenue Growth-1.30%
EPS Growth-36.69%
CountryUS
Employees7,500
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)0.57
Shares Outstanding54,487,293
10 Day Avg. Volume870,587
30 Day Avg. Volume709,410
Financial Highlights & Ratios
PEG Ratio1.21
Price to Book (P/B)1.59
Price to Sales (P/S)0.92
P/FCF Ratio26.25
Enterprise Value/Market Cap1.57
Enterprise Value/Revenue1.57
Enterprise Value/Gross Profit4.92
Enterprise Value/Ebitda10.98
Forecast
1Y Price Target
$72.40Price Target Upside13.60% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)4.61
Revenue Forecast (FY)$3.57B
H.B. Fuller Company Business Overview & Revenue Model
Company Description
H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products worldwide. The company operates through three...
How the Company Makes Money
H.B. Fuller primarily makes money by selling formulated adhesive, sealant, and related specialty chemical products to business customers, generating revenue largely from product sales (typically recognized when control of goods transfers to custom...
H.B. Fuller Company Earnings Call Summary
Earnings Call Date:Mar 25, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 01, 2026
Earnings Call Sentiment Neutral
The call balanced significant near‑term operational and market challenges (notably an organic revenue decline, HHC weakness, broad supply‑chain disruptions and raw material inflation) against strong execution on margins, disciplined cost actions, decisive pricing moves, improved cash flow, upgraded full‑year guidance and demonstrated sourcing/supply‑assurance capabilities that create share‑gain opportunities. Management tightened volume expectations but offset the pressure with pricing, restructuring savings and targeted commercial actions; they also paused M&A to preserve flexibility. Overall, positives around margin expansion, upgraded guidance and sourcing strength were offset by meaningful top‑line and supply risks, leaving the tone cautiously constructive.Positive Updates
Profitability and Margin Expansion
Adjusted EBITDA of $119,000,000, up 4% year‑over‑year; adjusted EBITDA margin widened 90 basis points to 15.4%. Adjusted gross profit margin improved to 31.3%, up 170 basis points year‑over‑year. Adjusted EPS was $0.57, up 6% versus Q1 2025.
Negative Updates
Overall Revenue and Volume Decline
Consolidated organic revenue decreased 6.6% year‑over‑year in Q1 (company cited pricing +0.6% and volume down 7.2%). Total organic revenue decreased ~6% year‑over‑year including solar.
Read all updates
Q1-2026 Updates
Positive
Negative
Profitability and Margin Expansion
Adjusted EBITDA of $119,000,000, up 4% year‑over‑year; adjusted EBITDA margin widened 90 basis points to 15.4%. Adjusted gross profit margin improved to 31.3%, up 170 basis points year‑over‑year. Adjusted EPS was $0.57, up 6% versus Q1 2025.
Read all positive updates
Company Guidance
H.B. Fuller updated its 2026 guidance to net revenue up mid-single digits and organic revenue up low-single digits versus FY2025 (with a +1–2% tailwind from FX), adjusted EBITDA of $645–$675 million, and adjusted EPS of $4.55–$4.90; Q2 guidance is net revenue up low-single digits and adjusted EBITDA $175–$185 million. Management is assuming roughly 10%+ pricing for the year, organic volume about −5% (versus prior flat to −1%), and is factoring in market‑share gains and additional restructuring benefits; they also noted operating cash flow will be second‑half weighted, are pausing near‑term M&A to prioritize share repurchases while targeting net debt/adjusted EBITDA of 2.5–3.0x (Q1 net debt/adj. EBITDA was 3.1x), and cited Q1 operating context (organic revenue −6.6% with pricing +0.6% and volume −7.2%, Q1 adjusted EBITDA $119M, EBITDA margin 15.4%, adj. gross margin 31.3%, adj. EPS $0.57, and cash flow from operations up $49M YoY) as the basis for the outlook.H.B. Fuller Company Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
48
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Nov 2025 | Nov 2024 | Nov 2023 | Nov 2022 | Nov 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.46B | 3.47B | 3.57B | 3.51B | 3.75B | 3.28B |
| Gross Profit | 1.11B | 1.10B | 1.07B | 1.02B | 963.55M | 845.13M |
| EBITDA | 495.48M | 527.08M | 490.50M | 528.60M | 490.43M | 438.12M |
| Net Income | 159.76M | 151.97M | 130.26M | 144.91M | 180.31M | 161.39M |
Balance Sheet | ||||||
| Total Assets | 5.22B | 5.18B | 4.93B | 4.72B | 4.46B | 4.27B |
| Cash, Cash Equivalents and Short-Term Investments | 107.88M | 107.21M | 169.35M | 179.45M | 79.91M | 61.79M |
| Total Debt | 2.08B | 2.02B | 2.07B | 1.90B | 1.80B | 1.65B |
| Total Liabilities | 3.15B | 3.18B | 3.10B | 2.97B | 2.85B | 2.68B |
| Stockholders Equity | 2.07B | 2.00B | 1.83B | 1.76B | 1.61B | 1.60B |
Cash Flow | ||||||
| Free Cash Flow | 145.43M | 121.22M | 163.20M | 259.26M | 126.55M | 117.23M |
| Operating Cash Flow | 312.43M | 263.49M | 302.44M | 378.40M | 256.51M | 213.32M |
| Investing Cash Flow | -168.27M | -232.25M | -407.08M | -319.20M | -375.29M | -94.66M |
| Financing Cash Flow | -170.58M | -107.90M | 112.09M | 35.14M | 160.32M | -154.07M |
H.B. Fuller Company Technical Analysis
Positive
63.73
Price Trends
61.10
Positive
60.38
Positive
59.77
Positive
Market Momentum
0.78
Negative
61.27
Neutral
91.15
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FUL, the sentiment is Positive. The current price of 63.73 is above the 20-day moving average (MA) of 57.18, above the 50-day MA of 61.10, and above the 200-day MA of 59.77, indicating a bullish trend. The MACD of 0.78 indicates Negative momentum. The RSI at 61.27 is Neutral, neither overbought nor oversold. The STOCH value of 91.15 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FUL.
H.B. Fuller Company Risk Analysis
H.B. Fuller Company disclosed 20 risk factors in its most recent earnings report. H.B. Fuller Company reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
H.B. Fuller Company Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.88B | 39.58 | 30.23% | 1.87% | 4.98% | 30.84% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | $3.10B | 53.35 | 16.73% | 0.50% | 11.86% | 1.99% | |
59 Neutral | $3.50B | 34.90 | 3.48% | 3.48% | 1.03% | -24.57% | |
55 Neutral | $3.81B | -7.30 | -17.79% | ― | 19.12% | ― | |
54 Neutral | $2.26B | -964.31 | -0.18% | 1.37% | 0.08% | -107.33% | |
53 Neutral | $3.47B | 42.73 | 8.09% | 1.54% | -1.30% | -36.69% |
* Basic Materials Sector Average
FUL
H.B. Fuller Company
63.73
10.85
20.52%
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214.01
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PRM
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25.48
15.51
155.57%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.