H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. It operates through three segments: Hygiene, Health and Consumable Adhesives; Engineering Adhesives; and Building Adhesive Solutions. The Hygiene, Health and Consumable Adhesives segment produces and supplies specialty industrial adhesives, such as thermoplastic, thermoset, reactive, water-based, and solvent-based products for applications in various markets, including packaging, converting, nonwoven and hygiene, and medical and beauty. The Engineering Adhesives segment produces and supplies high performance industrial adhesives comprising reactive, light cure, two-part liquids, polyurethane, silicone, film, and fast cure products to the durable assembly, performance wood and textile, transportation, electronics, clean energy, aerospace and defense, appliance, heavy machinery, and insulating glass markets. The Construction Adhesives segment provides products used for commercial roofing, heating, ventilation, and air conditioning and insulation applications, as well as caulks and sealants for the consumer market and professional trade. The company sells its products directly to customers, as well as through distributors and retailers in North America, Latin America, Europe, India, the Middle East, Africa, and the Asia Pacific. H.B. Fuller Company was founded in 1887 and is headquartered in Saint Paul, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.5B | $527M | $152M | $121M | 7.6% | -2.7% | 16.7% |
| 2024 | $3.6B | $490M | $130M | $163M | 7.1% | 1.6% | -10.1% |
| 2023 | $3.5B | $529M | $145M | $259M | 8.3% | -6.4% | -19.6% |
| 2022 | $3.7B | $490M | $180M | $127M | 11.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,749.18 | 3,510.93 | 3,568.74 | 3,473.59 |
| Operating Revenue | - | 3,749.18 | 3,510.93 | 3,568.74 | 3,473.59 |
| Cost Of Revenue | - | 2,785.48 | 2,502.04 | 2,506.86 | 2,392.93 |
| Gross Profit | - | 963.70 | 1,008.90 | 1,061.88 | 1,080.66 |
| Operating Expense | - | 614.19 | 633.51 | 697.74 | 702.77 |
| Research And Development | - | 44.85 | 48.64 | 49.56 | 62.15 |
| Selling General And Administration | - | 569.34 | 584.87 | 648.17 | 640.62 |
| Total Expenses | - | 3,399.68 | 3,135.55 | 3,204.60 | 3,095.71 |
| Operating Income | - | 349.50 | 375.38 | 364.14 | 377.88 |
| EBITDA | - | 490.42 | 528.60 | 490.50 | 527.08 |
| Normalized EBITDA | - | 501.94 | 540.28 | 539.84 | 559.70 |
| EBIT | - | 343.45 | 368.76 | 315.79 | 348.76 |
| Interest Income | - | 7.78 | 3.94 | 4.68 | 4.82 |
| Interest Expense | - | 91.52 | 134.60 | 133.12 | 133.35 |
| Net Interest Income | - | -83.74 | -130.66 | -128.44 | -128.53 |
| Other Non Operating Income Expenses | - | -2.32 | 1.11 | -3.69 | -1.32 |
| Other Income Expense | - | -13.84 | -10.56 | -53.04 | -33.94 |
| Interest Income Non Operating | - | 7.78 | 3.94 | 4.68 | 4.82 |
| Interest Expense Non Operating | - | 91.52 | 134.60 | 133.12 | 133.35 |
| Net Non Operating Interest Income Expense | - | -83.74 | -130.66 | -128.44 | -128.53 |
| Pretax Income | - | 251.93 | 234.16 | 182.66 | 215.42 |
| Tax Provision | - | 77.19 | 93.53 | 56.38 | 67.13 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -3.53 | -4.66 | -15.25 | -10.18 |
| Net Income Continuous Operations | - | 180.41 | 144.99 | 130.40 | 152.07 |
| Net Income From Continuing And Discontinued Operation | - | 180.31 | 144.91 | 130.26 | 151.97 |
| Net Income From Continuing Operation Net Minority Interest | - | 180.31 | 144.91 | 130.26 | 151.97 |
| Net Income | - | 180.31 | 144.91 | 130.26 | 151.97 |
| Net Income Common Stockholders | - | 180.31 | 144.91 | 130.26 | 151.97 |
| Net Income Including Noncontrolling Interests | - | 180.41 | 144.99 | 130.40 | 152.07 |
| Normalized Income | - | 188.30 | 151.92 | 164.35 | 174.41 |
| Diluted NI Availto Com Stockholders | - | 180.31 | 144.91 | 130.26 | 151.97 |
| Basic Average Shares | - | 53.58 | 54.33 | 54.93 | 54.60 |
| Diluted Average Shares | - | 55.27 | 55.96 | 56.63 | 55.36 |
| Reconciled Depreciation | - | 146.98 | 159.84 | 174.71 | 178.32 |
| Reconciled Cost Of Revenue | - | 2,785.48 | 2,502.04 | 2,506.86 | 2,392.93 |
| Total Unusual Items | - | -11.52 | -11.67 | -49.34 | -32.62 |
| Total Unusual Items Excluding Goodwill | - | -11.52 | -11.67 | -49.34 | -32.62 |
| Minority Interests | - | -0.09 | -0.08 | -0.14 | -0.11 |
| Earnings From Equity Interest Net Of Tax | - | 5.66 | 4.36 | 4.11 | 3.78 |
| Special Income Charges | - | 1.42 | -0.06 | -46.84 | -33.50 |
| Gain On Sale Of Business | - | - | 0 | 0 | -2.33 |
| Other Special Charges | -32.07 | -26.79 | - | - | 34.80 |
| Write Off | - | 0 | 0 | 47.27 | 0 |
| Gain On Sale Of Security | - | -12.94 | -11.62 | -2.50 | 0.88 |
| General And Administrative Expense | - | 569.34 | 584.87 | 648.17 | 640.62 |
| Other Gand A | - | 596.13 | 605.12 | 664.09 | 663.44 |
| Salaries And Wages | - | -26.79 | -20.25 | -15.92 | -22.81 |
| Gain On Sale Of Ppe | - | 1.42 | -0.06 | 0.42 | 3.63 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| H.B. Fuller Companythis co. | FUL | $3.3B | 21.64β premium | 1.64 | 7.6% | 9.98 |
| The Chemours Company | CC | $3.3B | - | 13.03 | -154.4% | 21.03 |
| Hawkins, Inc. | HWKN | $3.2B | 39.04 | 5.96 | 15.3% | 19.62 |
| Kaiser Aluminum Corporation | KALU | $3.1B | 27.14 | 3.70 | 13.6% | 12.82 |
| Alpha Metallurgical Resources, Inc. | AMR | $2.7B |
| - |
| - |
| - |
| - |
| - |
| -44.36 |
| 1.77 |
| -4.0% |
| 24.96 |
| WD-40 Company | WDFC | $2.7B | 30.11 | 10.19 | 33.8% | 24.47 |
| Quaker Chemical Corporation | KWR | $2.4B | -982.03 | 1.78 | -0.2% | 21.93 |
| Boise Cascade Company | BCC | $2.4B | 18.14 | 1.16 | 6.4% | 6.72 |
| Minerals Technologies Inc. | MTX | $2.4B | -129.26 | 1.39 | -1.1% | 22.86 |
| Peer Median | - | 18.14 | 2.74 | 3.1% | 21.48 | |