Chemicals - Specialty
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ASH vs FUL
Revenue, margins, valuation, and 5-year total return — side by side.
Chemicals - Specialty
ASH vs FUL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Chemicals - Specialty | Chemicals - Specialty |
| Market Cap | $2.50B | $3.30B |
| Revenue (TTM) | $1.81B | $3.47B |
| Net Income (TTM) | $-706M | $152M |
| Gross Margin | 28.6% | 31.5% |
| Operating Margin | -33.9% | 10.9% |
| Forward P/E | 14.5x | 12.9x |
| Total Debt | $1.57B | $2.02B |
| Cash & Equiv. | $215M | $107M |
ASH vs FUL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Ashland Inc. (ASH) | 100 | 81.3 | -18.7% |
| H.B. Fuller Company (FUL) | 100 | 162.0 | +62.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: ASH vs FUL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
ASH is the clearest fit if your priority is sleep-well-at-night and defensive.
- Lower volatility, beta 1.29, Low D/E 82.7%, current ratio 2.85x
- Beta 1.29, yield 3.0%, current ratio 2.85x
- 3.0% yield, 7-year raise streak, vs FUL's 1.5%
FUL carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 23 yrs, beta 1.20, yield 1.5%
- Rev growth -2.7%, EPS growth 19.6%, 3Y rev CAGR -2.5%
- 53.2% 10Y total return vs ASH's 22.2%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | -2.7% revenue growth vs ASH's -13.7% | |
| Value | Lower P/E (12.9x vs 14.5x) | |
| Quality / Margins | 4.4% margin vs ASH's -39.0% | |
| Stability / Safety | Beta 1.20 vs ASH's 1.29 | |
| Dividends | 3.0% yield, 7-year raise streak, vs FUL's 1.5% | |
| Momentum (1Y) | +16.8% vs FUL's +16.4% | |
| Efficiency (ROA) | 2.9% ROA vs ASH's -15.5%, ROIC 7.8% vs -15.9% |
ASH vs FUL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
ASH vs FUL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
FUL leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
FUL is the larger business by revenue, generating $3.5B annually — 1.9x ASH's $1.8B. FUL is the more profitable business, keeping 4.4% of every revenue dollar as net income compared to ASH's -39.0%. On growth, ASH holds the edge at +0.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $1.8B | $3.5B |
| EBITDAEarnings before interest/tax | -$430M | $472M |
| Net IncomeAfter-tax profit | -$706M | $152M |
| Free Cash FlowCash after capex | $343M | $121M |
| Gross MarginGross profit ÷ Revenue | +28.6% | +31.5% |
| Operating MarginEBIT ÷ Revenue | -33.9% | +10.9% |
| Net MarginNet income ÷ Revenue | -39.0% | +4.4% |
| FCF MarginFCF ÷ Revenue | +19.0% | +3.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +0.6% | -3.1% |
| EPS Growth (YoY)Latest quarter vs prior year | -46.2% | +122.2% |
Valuation Metrics
Evenly matched — ASH and FUL each lead in 2 of 4 comparable metrics.
Valuation Metrics
| Metric | ||
|---|---|---|
| Market CapShares × price | $2.5B | $3.3B |
| Enterprise ValueMkt cap + debt − cash | $3.9B | $5.2B |
| Trailing P/EPrice ÷ TTM EPS | -2.97x | 22.16x |
| Forward P/EPrice ÷ next-FY EPS est. | 14.51x | 12.93x |
| PEG RatioP/E ÷ EPS growth rate | — | 7.14x |
| EV / EBITDAEnterprise value multiple | — | 9.03x |
| Price / SalesMarket cap ÷ Revenue | 1.37x | 0.95x |
| Price / BookPrice ÷ Book value/share | 1.32x | 1.68x |
| Price / FCFMarket cap ÷ FCF | — | 27.24x |
Profitability & Efficiency
FUL leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
FUL delivers a 7.6% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $-38 for ASH. ASH carries lower financial leverage with a 0.83x debt-to-equity ratio, signaling a more conservative balance sheet compared to FUL's 1.01x. On the Piotroski fundamental quality scale (0–9), FUL scores 7/9 vs ASH's 6/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -37.5% | +7.6% |
| ROA (TTM)Return on assets | -15.5% | +2.9% |
| ROICReturn on invested capital | -15.9% | +7.8% |
| ROCEReturn on capital employed | -16.6% | +9.2% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.83x | 1.01x |
| Net DebtTotal debt minus cash | $1.4B | $1.9B |
| Cash & Equiv.Liquid assets | $215M | $107M |
| Total DebtShort + long-term debt | $1.6B | $2.0B |
| Interest CoverageEBIT ÷ Interest expense | -9.20x | 2.62x |
Total Returns (Dividends Reinvested)
FUL leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in FUL five years ago would be worth $9,434 today (with dividends reinvested), compared to $7,012 for ASH. Over the past 12 months, ASH leads with a +16.8% total return vs FUL's +16.4%. The 3-year compound annual growth rate (CAGR) favors FUL at -1.3% vs ASH's -12.8% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -8.1% | +1.8% |
| 1-Year ReturnPast 12 months | +16.8% | +16.4% |
| 3-Year ReturnCumulative with dividends | -33.6% | -3.9% |
| 5-Year ReturnCumulative with dividends | -29.9% | -5.7% |
| 10-Year ReturnCumulative with dividends | +22.2% | +53.2% |
| CAGR (3Y)Annualised 3-year return | -12.8% | -1.3% |
Risk & Volatility
FUL leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
FUL is the less volatile stock with a 1.20 beta — it tends to amplify market swings less than ASH's 1.29 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FUL currently trades 88.8% from its 52-week high vs ASH's 83.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.29x | 1.20x |
| 52-Week HighHighest price in past year | $65.65 | $68.63 |
| 52-Week LowLowest price in past year | $46.30 | $48.71 |
| % of 52W HighCurrent price vs 52-week peak | +83.2% | +88.8% |
| RSI (14)Momentum oscillator 0–100 | 42.5 | 45.4 |
| Avg Volume (50D)Average daily shares traded | 690K | 570K |
Analyst Outlook
Evenly matched — ASH and FUL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates ASH as "Buy" and FUL as "Buy". Consensus price targets imply 22.7% upside for ASH (target: $67) vs 20.3% for FUL (target: $73). For income investors, ASH offers the higher dividend yield at 3.03% vs FUL's 1.49%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $67.00 | $73.33 |
| # AnalystsCovering analysts | 24 | 15 |
| Dividend YieldAnnual dividend ÷ price | +3.0% | +1.5% |
| Dividend StreakConsecutive years of raises | 7 | 23 |
| Dividend / ShareAnnual DPS | $1.65 | $0.91 |
| Buyback YieldShare repurchases ÷ mkt cap | +4.0% | +1.8% |
FUL leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 2 categories are tied.
ASH vs FUL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is ASH or FUL a better buy right now?
For growth investors, H.
B. Fuller Company (FUL) is the stronger pick with -2. 7% revenue growth year-over-year, versus -13. 7% for Ashland Inc. (ASH). H. B. Fuller Company (FUL) offers the better valuation at 22. 2x trailing P/E (12. 9x forward), making it the more compelling value choice. Analysts rate Ashland Inc. (ASH) a "Buy" — based on 24 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — ASH or FUL?
On forward P/E, H.
B. Fuller Company is actually cheaper at 12. 9x.
03Which is the better long-term investment — ASH or FUL?
Over the past 5 years, H.
B. Fuller Company (FUL) delivered a total return of -5. 7%, compared to -29. 9% for Ashland Inc. (ASH). Over 10 years, the gap is even starker: FUL returned +53. 2% versus ASH's +22. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — ASH or FUL?
By beta (market sensitivity over 5 years), H.
B. Fuller Company (FUL) is the lower-risk stock at 1. 20β versus Ashland Inc. 's 1. 29β — meaning ASH is approximately 7% more volatile than FUL relative to the S&P 500. On balance sheet safety, Ashland Inc. (ASH) carries a lower debt/equity ratio of 83% versus 101% for H. B. Fuller Company — giving it more financial flexibility in a downturn.
05Which is growing faster — ASH or FUL?
By revenue growth (latest reported year), H.
B. Fuller Company (FUL) is pulling ahead at -2. 7% versus -13. 7% for Ashland Inc. (ASH). On earnings-per-share growth, the picture is similar: H. B. Fuller Company grew EPS 19. 6% year-over-year, compared to -643. 5% for Ashland Inc.. Over a 3-year CAGR, FUL leads at -2. 5% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — ASH or FUL?
H.
B. Fuller Company (FUL) is the more profitable company, earning 4. 4% net margin versus -46. 3% for Ashland Inc. — meaning it keeps 4. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FUL leads at 11. 5% versus -42. 5% for ASH. At the gross margin level — before operating expenses — FUL leads at 31. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is ASH or FUL more undervalued right now?
On forward earnings alone, H.
B. Fuller Company (FUL) trades at 12. 9x forward P/E versus 14. 5x for Ashland Inc. — 1. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ASH: 22. 7% to $67. 00.
08Which pays a better dividend — ASH or FUL?
All stocks in this comparison pay dividends.
Ashland Inc. (ASH) offers the highest yield at 3. 0%, versus 1. 5% for H. B. Fuller Company (FUL).
09Is ASH or FUL better for a retirement portfolio?
For long-horizon retirement investors, H.
B. Fuller Company (FUL) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 20), 1. 5% yield). Both have compounded well over 10 years (FUL: +53. 2%, ASH: +22. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between ASH and FUL?
Both stocks operate in the Basic Materials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: ASH is a small-cap income-oriented stock; FUL is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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