H.B. Fuller Company (FUL) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Chemicals - Specialty
EV/EBITDA
↓
9.03
↓-23% vs avg
5yr avg: 11.75
30Y Low5.0·High20.8
P/FCF
↓
27.24
-2% vs avg
5yr avg: 27.84
30Y Low8.9·High112.3
P/B Ratio
↓
1.68
↓-28% vs avg
5yr avg: 2.34
30Y Low1.2·High2.8
ROE
↓
7.9%
-14% vs avg
5yr avg: 9.2%
30Y Low3%·High19%
Debt/EBITDA
↓
3.49
↓-7% vs avg
5yr avg: 3.76
30Y Low0.9·High9.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
FUL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
H.B. Fuller Company trades at 22.2x earnings, 17% below its 5-year average of 26.8x, sitting at the 57th percentile of its historical range. This is roughly in line with the Basic Materials sector median P/E of 22.2x. On a free-cash-flow basis, the stock trades at 27.2x P/FCF, roughly in line with the 5-year average of 27.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.3B | $3.2B | $4.4B | $4.3B | $4.4B | $4.0B | $2.8B | $2.6B | $2.5B | $2.9B | $2.4B |
| Enterprise Value | $5.2B | $5.1B | $6.3B | $6.0B | $6.2B | $5.6B | $4.5B | $4.5B | $4.6B | $5.1B | $2.9B |
| P/E Ratio → | 22.16 | 21.19 | 33.43 | 29.69 | 24.64 | 24.88 | 22.77 | 19.79 | 14.66 | 49.25 | 19.19 |
| P/S Ratio | 0.95 | 0.93 | 1.22 | 1.23 | 1.18 | 1.22 | 1.01 | 0.90 | 0.82 | 1.25 | 1.14 |
| P/B Ratio | 1.68 | 1.61 | 2.38 | 2.45 | 2.76 | 2.51 | 2.04 | 2.12 | 2.18 | 2.75 | 2.54 |
| P/FCF | 27.24 | 26.61 | 26.68 | 16.60 | 35.08 | 34.24 | 11.55 | 12.51 | 13.55 | 33.46 | 17.99 |
| P/OCF | 12.53 | 12.24 | 14.40 | 11.37 | 17.31 | 18.82 | 8.51 | 9.63 | 9.90 | 20.40 | 12.17 |
P/E links to full P/E history page with 30-year chart
FUL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
H.B. Fuller Company's enterprise value stands at 9.0x EBITDA, 23% below its 5-year average of 11.8x. The Basic Materials sector median is 11.4x, placing the stock at a 21% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.48 | 1.75 | 1.72 | 1.64 | 1.71 | 1.62 | 1.54 | 1.51 | 2.22 | 1.40 |
| EV / EBITDA | 9.03 | 8.89 | 11.51 | 11.17 | 13.13 | 14.04 | 12.51 | 11.68 | 11.75 | 20.81 | 10.47 |
| EV / EBIT | 13.06 | 14.73 | 19.82 | 16.34 | 17.93 | 18.99 | 18.45 | 16.15 | 17.20 | 49.19 | 15.10 |
| EV / FCF | — | 42.37 | 38.36 | 23.24 | 48.67 | 47.78 | 18.52 | 21.52 | 24.88 | 59.75 | 22.22 |
FUL Profitability
Margins and return-on-capital ratios measuring operating efficiency
H.B. Fuller Company earns an operating margin of 11.5%, above the Basic Materials sector average of 9.4%. ROE of 7.9% is modest. ROIC of 7.8% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.7% | 31.7% | 30.1% | 29.2% | 25.7% | 25.8% | 27.2% | 27.9% | 27.4% | 26.7% | 29.1% |
| Operating Margin | 11.5% | 11.5% | 10.3% | 10.8% | 8.6% | 7.8% | 8.0% | 8.3% | 8.1% | 6.9% | 9.7% |
| Net Profit Margin | 4.4% | 4.4% | 3.6% | 4.1% | 4.8% | 4.9% | 4.4% | 4.5% | 5.6% | 2.5% | 5.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.9% | 7.9% | 7.3% | 8.6% | 11.2% | 10.8% | 9.5% | 11.0% | 15.6% | 5.9% | 13.7% |
| ROA | 3.0% | 3.0% | 2.7% | 3.2% | 4.1% | 3.9% | 3.1% | 3.2% | 3.6% | 1.6% | 5.0% |
| ROIC | 7.8% | 7.8% | 7.7% | 8.4% | 7.4% | 6.1% | 5.4% | 5.7% | 5.7% | 5.0% | 10.2% |
| ROCE | 9.2% | 9.2% | 8.9% | 9.7% | 8.8% | 7.3% | 6.4% | 6.8% | 5.8% | 4.8% | 9.6% |
FUL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
H.B. Fuller Company carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (41% above the sector average of 2.5x). Net debt stands at $1.9B ($2.0B total debt minus $107M cash). Interest coverage of just 3.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.01 | 1.01 | 1.13 | 1.08 | 1.12 | 1.03 | 1.30 | 1.62 | 1.95 | 2.35 | 0.75 |
| Debt / EBITDA | 3.49 | 3.49 | 3.82 | 3.53 | 3.84 | 4.14 | 4.98 | 5.18 | 5.73 | 9.95 | 2.50 |
| Net Debt / Equity | — | 0.95 | 1.04 | 0.98 | 1.07 | 0.99 | 1.23 | 1.53 | 1.82 | 2.16 | 0.60 |
| Net Debt / EBITDA | 3.31 | 3.31 | 3.50 | 3.20 | 3.67 | 3.98 | 4.70 | 4.89 | 5.35 | 9.16 | 2.00 |
| Debt / FCF | — | 15.75 | 11.67 | 6.65 | 13.59 | 13.54 | 6.97 | 9.01 | 11.33 | 26.29 | 4.24 |
| Interest Coverage | 2.99 | 2.99 | 2.77 | 2.82 | 3.52 | 3.27 | 2.57 | 2.33 | 2.22 | 3.64 | 7.43 |
FUL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.70x means H.B. Fuller Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.06x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.89x to 1.70x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.70 | 1.70 | 1.81 | 1.89 | 1.84 | 1.66 | 1.92 | 1.91 | 1.99 | 2.27 | 2.07 |
| Quick Ratio | 1.06 | 1.06 | 1.16 | 1.26 | 1.14 | 1.05 | 1.31 | 1.28 | 1.34 | 1.56 | 1.44 |
| Cash Ratio | 0.14 | 0.14 | 0.24 | 0.26 | 0.11 | 0.08 | 0.19 | 0.21 | 0.28 | 0.39 | 0.36 |
| Asset Turnover | — | 0.67 | 0.72 | 0.74 | 0.84 | 0.77 | 0.69 | 0.73 | 0.73 | 0.43 | 1.02 |
| Inventory Turnover | 5.03 | 5.03 | 5.34 | 5.63 | 5.66 | 5.43 | 6.29 | 6.19 | 6.21 | 4.70 | 6.00 |
| Days Sales Outstanding | — | 59.30 | 61.11 | 64.32 | 62.67 | 71.65 | 69.80 | 65.45 | 62.60 | 78.82 | 65.41 |
FUL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
H.B. Fuller Company returns 3.3% to shareholders annually — split between a 1.5% dividend yield and 1.8% buyback yield. The payout ratio of 33.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.5% | 1.6% | 1.1% | 1.0% | 0.9% | 0.9% | 1.2% | 1.2% | 1.2% | 1.0% | 1.2% |
| Payout Ratio | 33.1% | 33.1% | 36.5% | 29.9% | 21.7% | 21.6% | 27.0% | 24.7% | 18.2% | 50.8% | 22.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.7% | 3.0% | 3.4% | 4.1% | 4.0% | 4.4% | 5.1% | 6.8% | 2.0% | 5.2% |
| FCF Yield | 3.7% | 3.8% | 3.7% | 6.0% | 2.9% | 2.9% | 8.7% | 8.0% | 7.4% | 3.0% | 5.6% |
| Buyback Yield | 1.8% | 1.9% | 0.9% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.8% | 1.0% |
| Total Shareholder Yield | 3.3% | 3.4% | 2.0% | 1.1% | 1.0% | 0.9% | 1.3% | 1.4% | 1.4% | 1.8% | 2.1% |
| Shares Outstanding | — | $55M | $57M | $56M | $55M | $54M | $53M | $52M | $52M | $52M | $51M |
Peer Comparison
Compare FUL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 FULYou | $3B | 22.2 | 9.0 | 27.2 | 31.7% | 11.5% | 7.9% | 7.8% | 3.5 |
 IFF | $21B | -56.8 | 13.9 | 82.7 | 30.9% | 9.2% | -2.7% | 3.5% | 3.4 |
 RPM | $13B | 19.1 | 14.3 | 24.4 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
 AVY | $13B | 19.0 | 12.1 | 18.0 | 28.8% | 12.5% | 30.2% | 15.2% | 2.8 |
 BCPC | $5B | 34.0 | 20.1 | 29.9 | 35.7% | 21.1% | 12.9% | 12.2% | 0.7 |
 SHW | $80B | 31.5 | 21.4 | 30.1 | 48.9% | 16.1% | 59.4% | 16.5% | 3.3 |
 PPG | $25B | 16.1 | 11.2 | 21.5 | 38.0% | 13.7% | 92.2% | 23.5% | 2.8 |
 DOW | $28B | -10.4 | 14.1 | — | 6.0% | 0.7% | -14.8% | 0.6% | 6.3 |
 HUN | $3B | -9.5 | 19.9 | 22.7 | 13.2% | -0.7% | -9.0% | -0.6% | 11.0 |
 AXTA | $6B | 16.4 | 8.3 | 13.4 | 32.6% | 14.9% | 17.4% | 11.4% | 3.2 |
 TROX | $2B | -3.4 | 9999.0 | — | 9.3% | -8.7% | -0.1% | -0.0% | 5.3 |
| Basic Materials Median | — | 22.2 | 11.4 | 27.2 | 31.5% | 9.4% | 0.1% | 4.5% | 2.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonFUL — Frequently Asked Questions
Quick answers to the most common questions about buying FUL stock.
What is H.B. Fuller Company's P/E ratio?
H.B. Fuller Company's current P/E ratio is 22.2x. The historical average is 23.1x. This places it at the 57th percentile of its historical range.
What is H.B. Fuller Company's EV/EBITDA?
H.B. Fuller Company's current EV/EBITDA is 9.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
What is H.B. Fuller Company's ROE?
H.B. Fuller Company's return on equity (ROE) is 7.9%. The historical average is 10.4%.
Is FUL stock overvalued?
Based on historical data, H.B. Fuller Company is trading at a P/E of 22.2x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is H.B. Fuller Company's dividend yield?
H.B. Fuller Company's current dividend yield is 1.49% with a payout ratio of 33.1%.
What are H.B. Fuller Company's profit margins?
H.B. Fuller Company has 31.7% gross margin and 11.5% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does H.B. Fuller Company have?
H.B. Fuller Company's Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.