H.B. Fuller Company (FUL)
NYSE:FUL
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H.B. Fuller Company
(NYSE:FUL)
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Rating:56Neutral
Price Target:
$58.00
▼(-9.98% Downside)
Action:Reiterated
Date:04/18/26
The score is primarily held back by fundamental quality issues—sharp recent revenue contraction, elevated leverage, and weak cash conversion—despite stable/improving margins and positive cash generation. Technicals are moderately supportive with price above key averages and positive MACD. Valuation is a notable drag due to a high P/E and low yield, while the latest earnings call adds modest support via raised guidance and cost/pricing execution but with meaningful volume and supply-chain risks.
Positive Factors
Diversified global B2B model and technical service
H.B. Fuller’s diversified B2B exposure across hygiene, engineering, and construction plus global manufacturing and application support creates durable revenue streams. Technical service and tailored formulations raise switching costs, support repeat orders and local supply resilience over multiple cycles.
Negative Factors
Sharp TTM revenue decline
A severe ~51% trailing revenue contraction materially erodes scale economies, reduces capacity to absorb fixed costs, and raises execution risk. Restoring organic growth will be required to sustain recent margin gains and justify investment in growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified global B2B model and technical service
H.B. Fuller’s diversified B2B exposure across hygiene, engineering, and construction plus global manufacturing and application support creates durable revenue streams. Technical service and tailored formulations raise switching costs, support repeat orders and local supply resilience over multiple cycles.
Read all positive factors
H.B. Fuller Company (FUL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.07B
Dividend Yield1.54%
Average Volume (3M)441.46K
Price to Earnings (P/E)42.7
Beta (1Y)0.85
Revenue Growth-2.57%
EPS Growth43.21%
CountryUS
Employees7,500
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)2.93
Shares Outstanding54,487,293
10 Day Avg. Volume418,668
30 Day Avg. Volume441,460
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 Cap1.67
Enterprise Value/Revenue1.48
Enterprise Value/Gross Profit4.63
Enterprise Value/Ebitda10.33
Forecast
1Y Price Target
$68.67Price Target Upside6.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)4.72
Revenue Forecast (FY)$3.61B
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 manufacturing and selling formulated adhesive, sealant, and coating products to business customers (B2B). Revenue is generated from product sales across three main reporting segments: (1) Hygiene, Health and Co...
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
Negative
64.43
Price Trends
59.15
Negative
60.87
Negative
59.75
Negative
Market Momentum
-0.85
Positive
38.72
Neutral
26.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FUL, the sentiment is Negative. The current price of 64.43 is above the 20-day moving average (MA) of 59.80, above the 50-day MA of 59.15, and above the 200-day MA of 59.75, indicating a bearish trend. The MACD of -0.85 indicates Positive momentum. The RSI at 38.72 is Neutral, neither overbought nor oversold. The STOCH value of 26.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | $2.78B | 39.58 | 30.23% | 1.87% | 4.23% | -6.09% | |
66 Neutral | $2.42B | 27.35 | 0.31% | 1.37% | 6.25% | -94.37% | |
62 Neutral | $3.19B | 38.56 | 15.95% | 0.50% | 11.21% | -3.13% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $3.13B | 14.94 | 6.64% | 3.48% | 1.33% | 57.45% | |
59 Neutral | $5.12B | 12.88 | -16.43% | ― | 22.99% | -245.44% | |
56 Neutral | $3.07B | 42.73 | 8.09% | 1.54% | -2.57% | 43.21% |
* Basic Materials Sector Average
FUL
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H.B. Fuller Company Corporate Events
Executive/Board ChangesShareholder Meetings
H.B. Fuller Shareholders Back Board, Auditor and Pay Plans
Positive
Apr 17, 2026
On April 16, 2026, H.B. Fuller Company held its 2026 Annual Meeting of Shareholders, where investors elected three directors—Daniel L. Florness, Celine C. Martin, and Teresa J. Rasmussen—to new three-year terms and confirmed that a quo...
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.