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H.B. Fuller Company

FUL

Basic Materials · 50.44 +0.3% today

Isolated · not yet confirmedMarket checked 5 Oct, 15:55 GMT-4

Market read

No connected market move is active around H.B. Fuller Company.

No new filing conclusion is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Company+0.3% todayVolume comparison unavailable
Market groupNo active group readNo durable group available
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
  • Six-month interest expense reported at $65.6 million (2026) versus $66.9 million (2025), attributed to lower interest rates partially offset by higher debt levels.
  • Reported gross profit margin improved ~170–190 bps year-over-year, attributed primarily to higher product pricing and restructuring/acquisitions.

Invalidation: The isolated read changes if FUL's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Basic Materials · Specialty Chemicals

No new filing conclusion is available. 0 of 0 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Six-month interest expense reported at $65.6 million (2026) versus $66.9 million (2025), attributed to lower interest rates partially offset by higher debt levels.
  • Reported gross profit margin improved ~170–190 bps year-over-year, attributed primarily to higher product pricing and restructuring/acquisitions.

Company research

Understand the business, not just the ticker

As of Oct 5, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations344
Usable filing statements224
Verified relationships0
Evidence supporting the case

No qualifying supportive evidence was identified.

Evidence challenging the case
  • Latest annual revenue changed -2.7% year over year.
  • Input and raw-material costs has repeated adverse evidence across 6 filings.
Questions before a position
  • P/E is 16% above the available filing-peer median; determine whether growth and quality justify the difference.
  • EV/sales is 39% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Oct 5, 2026

50.44
6m-13.0%12m-14.7%24m—
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-11-27$3.3B+17.5%$2.97+3.4%
2022-12-03$3.7B+14.4%$3.26+1.8%
2023-12-02$3.5B-6.4%$2.59+1.2%
2024-11-30$3.6B+1.6%$2.30+1.2%
2025-11-29$3.5B-2.7%$2.75-2.2%

What management says matters

Persistent and emerging business drivers

Input and raw-material costsnegative · 6 filings
“Raw material cost as a percentage of net revenue decreased 170 basis points in 2026 compared to 2025 primarily due to higher product pricing and the impact of acquisitions partially offset by higher raw material costs.”
10-Q · Sep 24, 2026 ↗
Credit and interest ratesmixed · 5 filings
“Interest expense in the first nine months of 2026 was $106.5 million compared to $100.5 million in the first nine months of 2025 primarily due to higher debt levels and debt extinguishment costs.”
10-Q · Sep 24, 2026 ↗
Restructuring and cost reductionsmixed · 4 filings
“The increase in gross profit margin was due to higher product pricing and the impact of acquisitions and restructuring actions, partially offset by higher manufacturing and distribution costs.”
10-Q · Sep 24, 2026 ↗
Pricing and mixmixed · 2 filings
“The increase in gross profit margin as a percentage of net revenue was primarily due to higher pricing, lower raw materials cost and a decrease in other manufacturing costs.”
10-K · Jan 22, 2026 ↗

Valuation discipline

Descriptive valuation snapshot

Price/sales 0.8× · EV/sales 1.4×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

50.44+0.3% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 5 Oct, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FUL. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FUL. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FUL

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FUL is currently a Leader in the organic co-movement group Unknown Theme. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.

This group is retained as the last observed read for FUL; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.