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Fuller H B Co key statistics and ratios

In fiscal 2025, Fuller H B Co had return on equity of 7.9%, a net margin of 4.4%, debt equal to 100.7% of equity and a current ratio of 1.70. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Nov 20092010Nov 20102011Dec 20112012Dec 20122013Nov 20132014Nov 20142015Nov 20152016Dec 20162017Dec 20172018Dec 20182019Nov 20192020Nov 20202021Nov 20212022Dec 20222023Dec 20232024Nov 20242025Nov 2025LTMAug 2026
Gross margin30.1%28.5%28.0%27.4%27.9%25.3%27.3%28.9%26.0%27.2%27.9%27.1%25.8%25.7%28.7%29.8%31.1%32.3%
Operating margin8.7%7.5%8.1%8.6%9.6%7.1%8.2%9.5%5.2%7.8%7.8%7.8%7.7%8.6%10.1%9.8%——
Net margin6.8%5.6%6.2%6.7%4.7%2.4%4.2%5.8%2.6%5.6%4.5%4.4%4.9%4.8%4.1%3.6%4.4%5.6%
Free-cash-flow margin3.9%3.2%3.8%3.9%0.4%−5.2%7.3%6.3%4.8%6.1%7.2%8.8%3.6%3.4%7.4%4.6%3.5%2.8%
Return on equity14.1%11.6%13.3%16.9%11.3%5.5%9.8%13.4%6.0%15.5%11.0%9.5%10.8%11.2%8.6%7.3%7.9%9.5%
Return on assets7.6%6.3%7.5%8.3%5.3%2.7%4.4%5.9%1.8%4.0%3.2%3.1%3.9%4.1%3.2%2.7%3.0%3.7%
Asset turnover1.121.121.211.251.121.121.071.020.720.710.710.700.790.860.760.740.690.67
Current ratio2.012.312.342.282.202.412.292.072.292.001.911.921.661.841.891.811.701.82
Debt to equity27.5%35.4%32.9%66.8%53.0%64.6%82.8%75.0%233.2%195.0%161.9%128.4%99.7%107.8%104.7%110.0%100.7%94.8%
Interest cover (operating income ÷ interest)13.9x9.1x10.8x8.2x10.2x7.6x6.8x7.2x2.7x2.1x2.2x2.5x3.2x3.5x2.6x2.6x——
Effective tax rate32.0%26.5%30.5%34.0%31.3%43.3%40.4%29.9%16.2%−4.1%28.6%26.5%29.1%30.6%39.9%30.9%31.2%26.6%
R&D as % of revenue1.4%1.5%1.4%1.1%1.2%1.0%————————————
SG&A as % of revenue21.4%21.0%19.9%18.8%18.3%18.2%19.1%19.5%20.8%19.4%20.1%19.3%18.1%17.1%18.6%20.0%20.9%21.6%
Capital spending as % of revenue1.8%2.5%2.3%1.9%6.1%6.6%2.8%3.0%2.4%2.2%2.1%3.1%2.9%3.5%3.4%3.9%4.1%5.3%
Free cash flow ÷ net income58.2%57.1%62.0%57.9%8.7%−221.1%175.2%108.8%187.5%108.1%158.4%197.4%72.6%70.2%178.9%125.3%79.8%50.6%
Dividends ÷ net income15.7%19.2%16.3%13.1%20.0%46.4%29.6%22.6%49.8%18.2%24.7%27.0%21.6%21.7%29.9%36.5%33.1%26.2%
Dividends and buybacks ÷ free cash flow27.7%34.6%41.7%28.6%439.9%—29.6%38.3%46.2%19.4%17.1%15.1%32.0%34.1%17.7%53.4%91.6%100.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 6 checks passed · August 29, 2026
What it owns · $5.4bn
Short-term assets $1.5bnLonger-term assets $3.9bn
What it owes, and who funded it · $5.4bn
Short-term liabilities $818mLonger-term liabilities $2.4bnShareholders' equity $2.2bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $818m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $2.4bn of longer-dated liabilities.
  • More cash than debt $97m of cash against $2.1bn of debt.
  • Debt below 40% of shareholders' equity Debt is 95% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 115% to 95% over five years.
  • A year's operating cash flow covers at least 20% of debt $289m of operating cash flow against $2.1bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Fuller H B Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

56 /100

Moderate moat

How hard Fuller H B's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 7 / 20

    Cash operating profit has been a median 6.2% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 27.5%, moving by 2.0 percentage points (standard deviation) across 10 years.

  • Durability 11 / 20

    Operating margin has been a median 8.2%; its worst year was 6.2%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 5.6% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.6% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Fuller H B Co's SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fuller H B Co.