Input and raw-material costsnegative · 5 filings
“Raw material cost as a percentage of net revenue decreased 240 basis points in 2026 compared to 2025 primarily due to higher product pricing and the impact of acquisitions.”10-Q · Jun 25, 2026 ↗
H.B. Fuller Company
FUL
Market read
H.B. Fuller Company's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 0 directly disclosed connections are confirming.
Company+0.0% todayVolume comparison unavailable
Market group0 of 2 activeSpecialty Chemicals · unavailable
Disclosed network0 of 2 confirmingNo filing-linked name is confirming now
What would change this read
Watch 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.
Research brief
The story so far
No new filing conclusion is available. 0 of 2 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
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 observations328
Usable filing statements184
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 5 filings.
Questions before a position
- EV/sales is 34% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
51.716m-6.5%12m-16.2%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
Credit and interest ratesmixed · 4 filings
“Interest expense in the first six months of 2026 was $65.6 million compared to $66.9 million in the first six months of 2025 due to lower interest rates partially offset by higher debt levels.”10-Q · Jun 25, 2026 ↗
Restructuring and cost reductionsmixed · 3 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 · Jun 25, 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
51.71+0.0% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 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 Specialty Chemicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. No verified filing-linked names are available yet.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.