Fortune Brands Innovations, Inc. (FBIN) 10-Year Financial Performance & Capital Metrics

FBIN • • Industrial / General

IndustrialsConstructionBuilding Materials & ComponentsWindows & Doors

AboutFortune Brands Innovations, Inc. provides water, outdoor, and security products, including water management, connected products, outdoor living, material conversion, sustainability, safety, and wellness. The company's portfolio of brands comprising Moen, House of Rohl, Aqualisa, Therma-Tru, Larson, Fiberon, Master Lock, and SentrySafe. Fortune Brands Innovations, Inc. was incorporated in 1988 and is headquartered in Deerfield, Illinois.Show more

Revenue $4.61B -0.4%
EBITDA $932M +18.9%
Net Income $472M +16.7%
EPS (Diluted) 3.75 +18.3%
Gross Margin 44.83% +8.5%
EBITDA Margin 20.21% +19.3%
Operating Margin 16.01% +20.5%
Net Margin 10.24% +17.1%
ROE 20.02% +8.3%
ROIC 11.52% +11.8%
Debt/Equity 1.17 -4.9%
Interest Coverage 5.54 +5.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 21.7%
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 13.0%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.39%

5Y-4.38%

3Y-1.35%

TTM-3.78%

Profit (Net Income) CAGR

10Y11.56%

5Y1.79%

3Y-15.15%

TTM-26.91%

EPS CAGR

10Y14.13%

5Y4.15%

3Y-12.2%

TTM-24.79%

ROCE

10Y Avg13.67%

5Y Avg13.07%

3Y Avg13.79%

Latest14.29%

Peer Comparison

Windows & Doors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
NXQuanex Building Products Corporation	848.18M	18.57	20.63	13.03%	-13.65%	-34.54%	6.1%	0.88
MASMasco Corporation	14.79B	71.21	18.94	-1.74%	10.89%	492.26%	6.13%
FBINFortune Brands Innovations, Inc.	7.36B	61.29	16.34	-0.37%	7.3%	13.77%	6.44%	1.17
JELDJELD-WEN Holding, Inc.	271.67M	3.18	-1.43	-12.28%	-19.6%	-5.68%		2.13
ILAGIntelligent Living Application Group Inc.	7.06M	3.40	-17	16.5%	-51.55%	-56.91%		0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	4.58B	4.98B	5.28B	5.49B	5.76B	3.62B	4.8B	4.72B	4.63B	4.61B
Revenue Growth %	0.14%	0.09%	0.06%	0.04%	0.05%	-0.37%	0.33%	-0.02%	-0.02%	-0%
Cost of Goods Sold+	3B	3.19B	3.36B	3.53B	3.71B	2.16B	2.84B	2.79B	2.71B	2.54B
COGS % of Revenue	0.65%	0.64%	0.64%	0.64%	0.64%	0.6%	0.59%	0.59%	0.59%	0.55%
Gross Profit+	1.58B	1.8B	1.93B	1.96B	2.05B	1.46B	1.96B	1.93B	1.91B	2.07B
Gross Margin %	0.35%	0.36%	0.36%	0.36%	0.36%	0.4%	0.41%	0.41%	0.41%	0.45%
Gross Profit Growth %	0.16%	0.14%	0.07%	0.02%	0.05%	-0.29%	0.34%	-0.01%	-0.01%	0.08%
Operating Expenses+	1.09B	1.18B	1.24B	1.36B	1.35B	896.2M	1.15B	1.16B	1.3B	1.33B
OpEx % of Revenue	0.24%	0.24%	0.24%	0.25%	0.23%	0.25%	0.24%	0.25%	0.28%	0.29%
Selling, General & Admin	1.05B	1.12B	1.19B	1.23B	1.29B	847.5M	1.09B	1.07B	1.17B	1.25B
SG&A % of Revenue	0.23%	0.22%	0.22%	0.23%	0.22%	0.23%	0.23%	0.23%	0.25%	0.27%
Research & Development	0	0	0	0	0	48.4M	0	0	0	0
R&D % of Revenue	-	-	-	-	-	0.01%	-	-	-	-
Other Operating Expenses	38.2M	56.2M	55.2M	129.3M	65.7M	300K	62.8M	89.4M	129.7M	77.6M
Operating Income+	496.1M	618.6M	682.5M	595.2M	698.5M	567.7M	811.1M	774.3M	614.9M	737.9M
Operating Margin %	0.11%	0.12%	0.13%	0.11%	0.12%	0.16%	0.17%	0.16%	0.13%	0.16%
Operating Income Growth %	0.23%	0.25%	0.1%	-0.13%	0.17%	-0.19%	0.43%	-0.05%	-0.21%	0.2%
EBITDA+	611.2M	741.3M	812.8M	744.8M	851.2M	731.2M	1B	965.9M	783.7M	931.5M
EBITDA Margin %	0.13%	0.15%	0.15%	0.14%	0.15%	0.2%	0.21%	0.2%	0.17%	0.2%
EBITDA Growth %	0.22%	0.21%	0.1%	-0.08%	0.14%	-0.14%	0.37%	-0.03%	-0.19%	0.19%
D&A (Non-Cash Add-back)	115.1M	122.7M	130.3M	149.6M	152.7M	163.5M	189.1M	191.6M	168.8M	193.6M
EBIT	491.8M	631.2M	684.2M	611.5M	669.5M	583M	810.7M	786.3M	634.4M	726M
Net Interest Income+	-31.9M	-49.1M	-49.4M	-74.5M	-94.2M	-83.8M	-82.2M	-113.4M	-102.3M	-128M
Interest Income	0	0	0	0	0	0	2.1M	5.8M	14.2M	5.1M
Interest Expense	31.9M	49.1M	49.4M	74.5M	94.2M	83.8M	84.3M	119.2M	116.5M	133.1M
Other Income/Expense	-36.2M	-36.5M	-47.7M	-58.2M	-123.2M	-76.1M	-84.7M	-107.2M	-97M	-132.4M
Pretax Income+	459.9M	582.1M	634.8M	537M	575.3M	491.6M	726.4M	667.1M	517.9M	605.5M
Pretax Margin %	0.1%	0.12%	0.12%	0.1%	0.1%	0.14%	0.15%	0.14%	0.11%	0.13%
Income Tax+	153.4M	169.7M	159.5M	147M	144M	110.8M	166.7M	127.2M	112.4M	133.6M
Effective Tax Rate %	0.68%	0.71%	0.74%	0.73%	0.75%	1.13%	1.06%	1.03%	0.78%	0.78%
Net Income+	315M	413.2M	472.6M	389.6M	431.9M	553.1M	772.4M	686.7M	404.5M	471.9M
Net Margin %	0.07%	0.08%	0.09%	0.07%	0.07%	0.15%	0.16%	0.15%	0.09%	0.1%
Net Income Growth %	0.99%	0.31%	0.14%	-0.18%	0.11%	0.28%	0.4%	-0.11%	-0.41%	0.17%
Net Income (Continuing)	306.5M	412.4M	475.3M	390M	431.3M	380.8M	559.7M	539.9M	405.5M	471.9M
Discontinued Operations	9M	800K	-2.6M	-200K	0	173.6M	212.7M	146.8M	-1M	0
Minority Interest	2.9M	1.5M	1.6M	1.8M	1.2M	0	0	0	0	0
EPS (Diluted)+	1.88	2.61	3.05	2.66	3.06	3.94	5.54	5.23	3.17	3.75
EPS Growth %	0.88%	0.39%	0.17%	-0.13%	0.15%	0.29%	0.41%	-0.06%	-0.39%	0.18%
EPS (Basic)	1.97	2.69	3.11	2.70	3.09	3.99	5.72	5.36	3.20	3.78
Diluted Shares Outstanding	163M	157.8M	155.8M	146.4M	141.3M	140.2M	139.5M	131.3M	127.7M	125.7M
Basic Shares Outstanding	159.91M	153.41M	151.91M	140.5M	139.56M	138.66M	135.06M	128.04M	126.29M	124.8M
Dividend Payout Ratio	0.28%	0.24%	0.23%	0.3%	0.28%	0.24%	0.19%	0.21%	0.29%	0.25%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.42B	1.44B	1.6B	1.69B	1.9B	2.21B	2.74B	2.46B	2.05B	2.01B
Cash & Short-Term Investments	238.5M	251.5M	323M	262.9M	387.9M	419.1M	425.6M	642.5M	366.4M	381.1M
Cash Only	238.5M	251.5M	323M	262.9M	387.9M	419.1M	425.6M	642.5M	366.4M	381.1M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	502.6M	550.7M	555.3M	571.7M	624.8M	734.9M	580.4M	521.8M	534.2M	514.4M
Days Sales Outstanding	40.06	40.32	38.36	38.04	39.56	74.07	44.12	40.33	42.15	40.74
Inventory	555.6M	531.1M	580.8M	678.9M	718.6M	867.2M	1.19B	1.02B	982.3M	960.3M
Days Inventory Outstanding	67.65	60.79	63.12	70.28	70.66	146.72	153.4	133.61	132.07	137.85
Other Current Assets	121.3M	111.9M	142.6M	172.6M	166.9M	187.3M	546M	274.9M	162.8M	151.6M
Total Non-Current Assets+	3.46B	3.68B	3.91B	4.28B	4.39B	5.15B	5.19B	3.66B	4.52B	4.55B
Property, Plant & Equipment	627.9M	662.5M	740M	813.4M	824.2M	917.4M	1.01B	783.7M	1.15B	1.15B
Fixed Asset Turnover	7.29x	7.52x	7.14x	6.74x	6.99x	3.95x	4.76x	6.03x	4.03x	4.02x
Goodwill	1.76B	1.83B	1.91B	2.08B	2.09B	2.39B	2.47B	1.64B	1.91B	1.99B
Intangible Assets	996.7M	1.11B	1.16B	1.25B	1.17B	1.42B	1.38B	1B	1.35B	1.3B
Long-Term Investments	-7.4M	-9.5M	-9.4M	28.7M	35.3M	8.4M	6.8M	7.2M	0	5.9M
Other Non-Current Assets	80M	80M	95.3M	138M	257.2M	378.5M	299.2M	91.2M	105.5M	112M
Total Assets+	4.88B	5.13B	5.51B	5.96B	6.29B	7.36B	7.94B	6.12B	6.57B	6.56B
Asset Turnover	0.94x	0.97x	0.96x	0.92x	0.92x	0.49x	0.60x	0.77x	0.70x	0.70x
Asset Growth %	0.2%	0.05%	0.08%	0.08%	0.05%	0.17%	0.08%	-0.23%	0.07%	-0%
Total Current Liabilities+	757.9M	840.4M	906.8M	1.49B	1.41B	1.35B	1.97B	1.55B	1.2B	1.6B
Accounts Payable	344.2M	393.8M	428.8M	459M	460M	620.5M	561M	421.6M	568.1M	513.9M
Days Payables Outstanding	41.91	45.08	46.6	47.52	45.23	104.98	72.09	55.15	76.38	73.77
Short-Term Debt	800K	0	0	525M	399.7M	0	400M	599.2M	0	499.6M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	-1000K	0
Other Current Liabilities	294.9M	336.4M	372.1M	422.2M	439.9M	106.9M	636M	2.5M	98.9M	57.6M
Current Ratio	1.87x	1.72x	1.77x	1.13x	1.35x	1.64x	1.39x	1.59x	1.70x	1.25x
Quick Ratio	1.14x	1.08x	1.13x	0.68x	0.84x	1.00x	0.79x	0.93x	0.89x	0.65x
Cash Conversion Cycle	65.8	56.04	54.88	60.81	64.99	115.81	125.44	118.78	97.84	104.82
Total Non-Current Liabilities+	1.67B	1.92B	2B	2.29B	2.45B	3.24B	2.9B	2.49B	3.07B	2.54B
Long-Term Debt	1.17B	1.43B	1.51B	1.81B	1.78B	2.57B	2.31B	2.07B	2.67B	2.17B
Capital Lease Obligations	0	0	0	0	139.8M	140.5M	108.8M	95.4M	143.3M	121.6M
Deferred Tax Liabilities	201.7M	163.5M	166.8M	162.6M	157.2M	160.5M	81.7M	136.9M	111.3M	117.4M
Other Non-Current Liabilities	293.6M	328.1M	329.1M	320.9M	372.6M	364.9M	400M	182.7M	146.5M	124.8M
Total Liabilities	2.42B	2.76B	2.91B	3.78B	3.86B	4.58B	4.87B	4.04B	4.27B	4.14B
Total Debt+	1.17B	1.43B	1.51B	2.33B	2.32B	2.71B	2.82B	2.77B	2.81B	2.83B
Net Debt	931M	1.18B	1.18B	2.07B	1.94B	2.29B	2.39B	2.13B	2.45B	2.45B
Debt / Equity	0.48x	0.61x	0.58x	1.07x	0.96x	0.98x	0.92x	1.33x	1.23x	1.17x
Debt / EBITDA	1.91x	1.93x	1.85x	3.13x	2.73x	3.71x	2.82x	2.87x	3.59x	3.03x
Net Debt / EBITDA	1.52x	1.59x	1.46x	2.78x	2.27x	3.14x	2.39x	2.20x	3.12x	2.63x
Interest Coverage	15.55x	12.60x	13.82x	7.99x	7.42x	6.77x	9.62x	6.50x	5.28x	5.54x
Total Equity+	2.45B	2.36B	2.6B	2.18B	2.43B	2.78B	3.06B	2.08B	2.29B	2.42B
Equity Growth %	0.08%	-0.04%	0.1%	-0.16%	0.11%	0.14%	0.1%	-0.32%	0.1%	0.06%
Book Value per Share	15.05	14.97	16.70	14.89	17.18	19.80	21.97	15.88	17.96	19.27
Total Shareholders' Equity	2.45B	2.36B	2.6B	2.18B	2.43B	2.78B	3.06B	2.08B	2.29B	2.42B
Common Stock	1.7M	1.7M	1.7M	1.8M	1.8M	1.8M	1.9M	1.9M	1.9M	1.9M
Retained Earnings	501.6M	814.6M	1.17B	1.45B	1.76B	2.18B	2.81B	2.32B	2.61B	2.96B
Treasury Stock	-602.1M	-1.04B	-1.26B	-1.97B	-2.08B	-2.28B	-2.74B	-3.35B	-3.51B	-3.77B
Accumulated OCI	-52.5M	-71.9M	-39.2M	-67M	-72.6M	-55.1M	-24.6M	37.4M	63.3M	42.4M
Minority Interest	2.9M	1.5M	1.6M	1.8M	1.2M	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	411.1M	650.5M	600.3M	604M	637.2M	825.7M	688.7M	566.3M	1.06B	667.8M
Operating CF Margin %	0.09%	0.13%	0.11%	0.11%	0.11%	0.23%	0.14%	0.12%	0.23%	0.14%
Operating CF Growth %	0.62%	0.58%	-0.08%	0.01%	0.05%	0.3%	-0.17%	-0.18%	0.86%	-0.37%
Net Income	315.5M	413.2M	472.7M	389.8M	431.3M	554.4M	772.4M	686.7M	404.5M	471.9M
Depreciation & Amortization	115.1M	122.7M	130.3M	149.6M	152.7M	163.5M	189.1M	191.6M	168.8M	193.6M
Stock-Based Compensation	27.6M	32M	43M	36.1M	30.5M	47.6M	50.2M	50.2M	34.2M	39.3M
Deferred Taxes	-13.6M	-25.8M	-18.7M	2.8M	-7.5M	-14.6M	1.7M	14.8M	-26.1M	200K
Other Non-Cash Items	26.6M	6.6M	20.1M	69.9M	116.2M	67M	52.7M	97.5M	71.2M	54.2M
Working Capital Changes	-60.1M	101.8M	-47.1M	-44.2M	-86M	7.8M	-377.4M	-474.5M	403.2M	-91.4M
Change in Receivables	-6.9M	-39.1M	1M	9.8M	-50.7M	-85.7M	-151.5M	66.3M	25.7M	6.3M
Change in Inventory	-69.8M	52.4M	-24.8M	-55M	-38.3M	-91.8M	-324.3M	-198.5M	148.8M	16.6M
Change in Payables	-16M	57.6M	24M	21M	8.7M	142.9M	137.7M	-161.2M	101.1M	-29.3M
Cash from Investing+	-766.6M	-385.1M	-287.7M	-634.3M	-127.6M	-923.5M	-207.1M	-455.5M	-1.04B	-302.9M
Capital Expenditures	-126M	-145.4M	-165M	-150.1M	-131.8M	-150.5M	-214.2M	-246.1M	-256.5M	-193.3M
CapEx % of Revenue	0.03%	0.03%	0.03%	0.03%	0.02%	0.04%	0.04%	0.05%	0.06%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	12.2M	3.9M	1.9M	-140M	0	-148.9M	1.9M	8.2M	2.8M	25.8M
Cash from Financing+	416.9M	-250.4M	-250.1M	-6.8M	-389.7M	111.6M	-428.6M	72.5M	-271.3M	-363.4M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-89.5M	-98.2M	-110.3M	-115.2M	-123M	-133.3M	-143M	-145.6M	-116.8M	-119.6M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	58.4M	13.4M	-28.5M	-28.1M	-7.3M	58.2M	-14.7M	862.3M	400K	-3.4M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	285.1M	505.1M	435.3M	453.9M	505.4M	675.2M	474.5M	320.2M	799.3M	474.5M
FCF Margin %	0.06%	0.1%	0.08%	0.08%	0.09%	0.19%	0.1%	0.07%	0.17%	0.1%
FCF Growth %	1.25%	0.77%	-0.14%	0.04%	0.11%	0.34%	-0.3%	-0.33%	1.5%	-0.41%
FCF per Share	1.75	3.20	2.79	3.10	3.58	4.82	3.40	2.44	6.26	3.77
FCF Conversion (FCF/Net Income)	1.31x	1.57x	1.27x	1.55x	1.48x	1.49x	0.89x	0.82x	2.61x	1.42x
Interest Paid	26M	43.7M	44.4M	63.4M	81M	76.2M	76.8M	102.9M	121.4M	126.6M
Taxes Paid	104.2M	172.1M	169.7M	114.2M	144.5M	175.5M	228.8M	278.3M	120.3M	152.3M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.36%	17.16%	19.04%	16.3%	18.75%	21.26%	26.45%	26.67%	18.48%	20.02%
Return on Invested Capital (ROIC)	12.15%	13.39%	13.97%	11.11%	12.16%	9.03%	11.56%	12.01%	10.3%	11.52%
Gross Margin	34.54%	36.03%	36.44%	35.72%	35.6%	40.42%	40.83%	40.93%	41.32%	44.83%
Net Margin	6.88%	8.29%	8.95%	7.1%	7.49%	15.27%	16.09%	14.54%	8.74%	10.24%
Debt / Equity	0.48x	0.61x	0.58x	1.07x	0.96x	0.98x	0.92x	1.33x	1.23x	1.17x
Interest Coverage	15.55x	12.60x	13.82x	7.99x	7.42x	6.77x	9.62x	6.50x	5.28x	5.54x
FCF Conversion	1.31x	1.57x	1.27x	1.55x	1.48x	1.49x	0.89x	0.82x	2.61x	1.42x
Revenue Growth	14.1%	8.85%	5.99%	3.82%	5.1%	-37.18%	32.58%	-1.63%	-2.05%	-0.37%

Revenue by Segment

	2021	2022	2023	2024
Water Innovations	-	2.57B	2.56B	2.56B
Water Innovations Growth	-	-	-0.31%	0.09%
Outdoors	-	-	1.34B	1.35B
Outdoors Growth	-	-	-	0.67%
Security	-	-	722.9M	694.3M
Security Growth	-	-	-	-3.96%
Outdoors And Security	2.04B	2.15B	-	-
Outdoors And Security Growth	-	5.53%	-	-
Cabinets	2.85B	-	-	-
Cabinets Growth	-	-	-	-
Plumbing	2.76B	-	-	-
Plumbing Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	6.4B	3.76B	3.71B	3.81B
UNITED STATES Growth	-	-41.22%	-1.48%	2.72%
CANADA	542.6M	368.2M	352.4M	344.5M
CANADA Growth	-	-32.14%	-4.29%	-2.24%
CHINA	510.4M	363.9M	335.2M	233.6M
CHINA Growth	-	-28.70%	-7.89%	-30.31%
All Other Countries	200.3M	227.3M	230.6M	221.9M
All Other Countries Growth	-	13.48%	1.45%	-3.77%

Frequently Asked Questions

Valuation & Price

Fortune Brands Innovations, Inc. (FBIN) has a price-to-earnings (P/E) ratio of 16.3x. This is roughly in line with market averages.

Growth & Financials

Fortune Brands Innovations, Inc. (FBIN) reported $4.49B in revenue for fiscal year 2024. This represents a 35% increase from $3.33B in 2011.

Fortune Brands Innovations, Inc. (FBIN) saw revenue decline by 0.4% over the past year.

Yes, Fortune Brands Innovations, Inc. (FBIN) is profitable, generating $327.6M in net income for fiscal year 2024 (10.2% net margin).

Dividend & Returns

Yes, Fortune Brands Innovations, Inc. (FBIN) pays a dividend with a yield of 1.55%. This makes it attractive for income-focused investors.

Fortune Brands Innovations, Inc. (FBIN) has a return on equity (ROE) of 20.0%. This is excellent, indicating efficient use of shareholder capital.

Fortune Brands Innovations, Inc. (FBIN) generated $455.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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