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H.B. Fuller

NYSE:FUL
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FUL
NYSE
$3B
Market Cap
  1. Home
  2. US
  3. Materials
Company description

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, and other specialty chemical products worldwide. The last earnings update was 25 days ago. More info.


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FUL Share Price and Events
7 Day Returns
-1.2%
NYSE:FUL
-0.3%
US Chemicals
-0.1%
US Market
1 Year Returns
-0.9%
NYSE:FUL
-5.8%
US Chemicals
7.6%
US Market
FUL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
H.B. Fuller (FUL) -1.2% 4.5% 11% -0.9% 11.6% 9%
US Chemicals -0.3% -1% 1.5% -5.8% 19% 15.8%
US Market -0.1% 3.7% 10.2% 7.6% 38.1% 46.4%
1 Year Return vs Industry and Market
  • FUL outperformed the Chemicals industry which returned -5.8% over the past year.
  • FUL underperformed the Market in United States of America which returned 7.6% over the past year.
Price Volatility
FUL
Industry
5yr Volatility vs Market

Value

 Is H.B. Fuller undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of H.B. Fuller to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for H.B. Fuller.

NYSE:FUL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:FUL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Chemicals Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.924 (1 + (1- 21%) (87.8%))
1.378
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.38
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.378 * 5.96%)
10.95%

Discounted Cash Flow Calculation for NYSE:FUL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for H.B. Fuller is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:FUL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.95%)
2019 226.02 Analyst x5 203.72
2020 246.80 Analyst x5 200.51
2021 265.50 Analyst x2 194.42
2022 281.25 Est @ 5.93% 185.64
2023 295.23 Est @ 4.97% 175.64
2024 307.93 Est @ 4.3% 165.12
2025 319.72 Est @ 3.83% 154.53
2026 330.90 Est @ 3.5% 144.16
2027 341.72 Est @ 3.27% 134.18
2028 352.33 Est @ 3.11% 124.70
Present value of next 10 years cash flows $1,682.61
NYSE:FUL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $352.33 × (1 + 2.73%) ÷ (10.95% – 2.73%)
$4,405.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,405.92 ÷ (1 + 10.95%)10
$1,559.38
NYSE:FUL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,682.61 + $1,559.38
$3,241.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,241.99 / 50.89
$63.71
NYSE:FUL Discount to Share Price
Calculation Result
Value per share (USD) From above. $63.71
Current discount Discount to share price of $50.15
= -1 x ($50.15 - $63.71) / $63.71
21.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price H.B. Fuller is available for.
Intrinsic value
21%
Share price is $50.15 vs Future cash flow value of $63.71
Current Discount Checks
For H.B. Fuller to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • H.B. Fuller's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • H.B. Fuller's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for H.B. Fuller's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are H.B. Fuller's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:FUL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-02) in USD $2.68
NYSE:FUL Share Price ** NYSE (2019-04-23) in USD $50.15
United States of America Chemicals Industry PE Ratio Median Figure of 66 Publicly-Listed Chemicals Companies 18.74x
United States of America Market PE Ratio Median Figure of 3,080 Publicly-Listed Companies 18.03x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of H.B. Fuller.

NYSE:FUL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:FUL Share Price ÷ EPS (both in USD)

= 50.15 ÷ 2.68

18.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • H.B. Fuller is good value based on earnings compared to the US Chemicals industry average.
  • H.B. Fuller is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does H.B. Fuller's expected growth come at a high price?
Raw Data
NYSE:FUL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
19.3%per year
United States of America Chemicals Industry PEG Ratio Median Figure of 46 Publicly-Listed Chemicals Companies 1.56x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

NYSE:FUL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.71x ÷ 19.3%

0.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • H.B. Fuller is good value based on expected growth next year.
Price based on value of assets
What value do investors place on H.B. Fuller's assets?
Raw Data
NYSE:FUL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-02) in USD $23.07
NYSE:FUL Share Price * NYSE (2019-04-23) in USD $50.15
United States of America Chemicals Industry PB Ratio Median Figure of 91 Publicly-Listed Chemicals Companies 2.26x
United States of America Market PB Ratio Median Figure of 5,185 Publicly-Listed Companies 1.92x
NYSE:FUL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:FUL Share Price ÷ Book Value per Share (both in USD)

= 50.15 ÷ 23.07

2.17x

* Primary Listing of H.B. Fuller.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • H.B. Fuller is good value based on assets compared to the US Chemicals industry average.
X
Value checks
We assess H.B. Fuller's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Chemicals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Chemicals industry average (and greater than 0)? (1 check)
  5. H.B. Fuller has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is H.B. Fuller expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is H.B. Fuller expected to grow at an attractive rate?
  • H.B. Fuller's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • H.B. Fuller's earnings growth is expected to exceed the United States of America market average.
  • H.B. Fuller's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:FUL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:FUL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 19.3%
NYSE:FUL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 3.7%
United States of America Chemicals Industry Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Chemicals Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.5%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:FUL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:FUL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-11-30 3,555 348 2
2022-11-30 3,395 309 2
2021-11-30 3,239 372 235 5
2020-11-30 3,156 346 202 9
2019-11-30 3,038 288 160 8
NYSE:FUL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-02 3,001 286 136
2018-12-01 3,041 253 171
2018-09-01 2,951 177 123
2018-06-02 2,744 130 111
2018-03-03 2,516 92 92
2017-12-02 2,306 141 59
2017-09-02 2,203 121 105
2017-06-03 2,153 146 113
2017-03-04 2,124 170 120
2016-12-03 2,095 196 122
2016-08-27 2,068 203 110
2016-05-28 2,079 172 104

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • H.B. Fuller's earnings are expected to grow by 19.3% yearly, however this is not considered high growth (20% yearly).
  • H.B. Fuller's revenue is expected to grow by 3.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:FUL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from H.B. Fuller Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FUL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-11-30 7.10 7.10 7.10 1.00
2022-11-30 6.20 6.20 6.20 1.00
2021-11-30 4.57 5.25 3.95 3.00
2020-11-30 3.88 4.23 3.44 4.00
2019-11-30 3.10 3.35 2.79 4.00
NYSE:FUL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-02 2.68
2018-12-01 3.38
2018-09-01 2.45
2018-06-02 2.20
2018-03-03 1.83
2017-12-02 1.18
2017-09-02 2.09
2017-06-03 2.24
2017-03-04 2.39
2016-12-03 2.43
2016-08-27 2.19
2016-05-28 2.07

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • H.B. Fuller is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess H.B. Fuller's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
H.B. Fuller has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has H.B. Fuller performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare H.B. Fuller's growth in the last year to its industry (Chemicals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • H.B. Fuller's year on year earnings growth rate has been positive over the past 5 years.
  • H.B. Fuller's 1-year earnings growth exceeds its 5-year average (47.7% vs 15%)
  • H.B. Fuller's earnings growth has exceeded the US Chemicals industry average in the past year (47.7% vs 23.1%).
Earnings and Revenue History
H.B. Fuller's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from H.B. Fuller Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:FUL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-02 3,000.86 135.77 536.32 35.53
2018-12-01 3,041.00 171.21 542.29 35.53
2018-09-01 2,950.77 123.48 548.84 30.07
2018-06-02 2,743.54 110.89 513.60 30.07
2018-03-03 2,515.80 92.31 471.16 30.07
2017-12-02 2,306.04 59.42 429.79 30.07
2017-09-02 2,202.75 104.93 400.14 28.61
2017-06-03 2,152.74 112.54 387.78 28.61
2017-03-04 2,123.60 120.01 389.96 28.61
2016-12-03 2,094.61 121.66 385.06 28.61
2016-08-27 2,067.80 109.99 376.09 26.17
2016-05-28 2,079.08 104.05 376.78 26.17
2016-02-27 2,087.33 97.19 372.79 26.17
2015-11-28 2,083.66 87.98 367.87 26.17
2015-08-29 2,083.23 73.67 365.97 21.25
2015-05-30 2,085.86 50.85 364.45 21.25
2015-02-28 2,089.13 44.91 360.24 21.25
2014-11-29 2,104.45 49.77 361.67 21.25
2014-08-30 2,090.31 60.98 358.00 24.57
2014-05-31 2,078.13 84.05 351.82 24.57
2014-03-01 2,053.11 89.44 349.26 24.57
2013-11-30 2,046.97 95.55 350.10 24.57
2013-08-31 2,026.69 98.59 377.45
2013-06-01 2,012.65 96.09 378.20
2013-03-02 2,020.63 75.15 377.34
2012-12-01 1,886.24 68.05 333.48 21.25
2012-09-01 1,774.53 65.12 315.10 20.80
2012-06-02 1,637.07 62.57 295.80 20.80

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • H.B. Fuller has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • H.B. Fuller used its assets less efficiently than the US Chemicals industry average last year based on Return on Assets.
  • H.B. Fuller's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess H.B. Fuller's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Chemicals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
H.B. Fuller has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is H.B. Fuller's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up H.B. Fuller's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • H.B. Fuller is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • H.B. Fuller's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of H.B. Fuller's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from H.B. Fuller Company Filings, last reported 1 month ago.

NYSE:FUL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-02 1,174.10 2,240.50 113.48
2018-12-01 1,152.17 2,247.53 150.79
2018-09-01 1,127.97 2,386.82 150.08
2018-06-02 1,130.16 2,429.61 129.25
2018-03-03 1,120.39 2,449.23 132.48
2017-12-02 1,051.82 2,451.91 194.40
2017-09-02 1,032.54 813.47 119.60
2017-06-03 991.75 791.16 94.10
2017-03-04 949.77 807.92 116.52
2016-12-03 942.55 703.27 142.25
2016-08-27 961.26 711.57 133.10
2016-05-28 928.82 721.85 146.02
2016-02-27 889.79 723.37 126.77
2015-11-28 877.53 722.86 119.17
2015-08-29 908.49 727.58 85.82
2015-05-30 894.92 736.90 79.46
2015-02-28 871.68 763.57 71.57
2014-11-29 895.10 574.88 77.57
2014-08-30 955.58 562.90 75.54
2014-05-31 959.74 569.64 95.04
2014-03-01 938.87 540.93 113.05
2013-11-30 935.18 492.90 155.12
2013-08-31 844.42 494.03 160.26
2013-06-01 820.75 496.41 161.19
2013-03-02 804.66 510.98 163.13
2012-12-01 782.68 520.23 200.44
2012-09-01 797.65 532.45 207.75
2012-06-02 705.20 616.80 154.30
  • H.B. Fuller's level of debt (190.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (57.7% vs 190.8% today).
  • Debt is not well covered by operating cash flow (12.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess H.B. Fuller's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. H.B. Fuller has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is H.B. Fuller's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.28%
Current annual income from H.B. Fuller dividends. Estimated to be 1.46% next year.
If you bought $2,000 of H.B. Fuller shares you are expected to receive $26 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • H.B. Fuller's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • H.B. Fuller's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:FUL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Chemicals Industry Average Dividend Yield Market Cap Weighted Average of 55 Stocks 2.5%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:FUL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-11-30 1.22 1.00
2022-11-30 0.99 1.00
2021-11-30 0.75 5.00
2020-11-30 0.69 7.00
2019-11-30 0.64 6.00
NYSE:FUL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-04 0.640 1.276
2019-01-24 0.620 1.261
2018-10-04 0.620 1.389
2018-07-12 0.620 1.102
2018-04-12 0.620 1.178
2018-01-18 0.600 1.179
2017-10-05 0.600 1.088
2017-07-13 0.600 1.140
2017-04-06 0.600 1.163
2017-01-26 0.560 1.118
2016-10-13 0.560 1.191
2016-06-30 0.560 1.212
2016-04-07 0.560 1.246
2016-01-21 0.520 1.351
2015-10-01 0.520 1.401
2015-07-09 0.520 1.398
2015-04-09 0.520 1.236
2015-01-22 0.480 1.113
2014-10-02 0.480 1.148
2014-07-09 0.480 1.066
2014-04-10 0.480 1.005
2014-01-23 0.400 0.842
2013-10-03 0.400 0.814
2013-07-10 0.400 0.997
2013-04-11 0.400 1.010
2013-01-24 0.340 0.847
2012-09-26 0.340 1.043
2012-06-28 0.340 1.112
2012-04-12 0.340 1.089
2012-01-26 0.300 0.981
2011-09-29 0.300 1.371
2011-07-07 0.300 1.405
2011-04-14 0.300 1.371
2011-01-20 0.280 1.288
2010-09-30 0.280 1.339
2010-07-07 0.280 1.400
2010-04-15 0.280 1.295
2010-01-20 0.272 1.237
2009-10-01 0.272 1.266
2009-07-02 0.272 1.366
2009-04-24 0.272 1.513

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of H.B. Fuller's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (5.9x coverage).
X
Income/ dividend checks
We assess H.B. Fuller's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can H.B. Fuller afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. H.B. Fuller has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of H.B. Fuller's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Owens
COMPENSATION $4,619,550
AGE 53
TENURE AS CEO 8.4 years
CEO Bio

Mr. James J. Owens, also known as Jim, has been the Chief Executive Officer and President of H.B. Fuller Company since November 22, 2010. Mr. Owens served as the Senior Vice President of North America Region at H.B. Fuller Company from September 02, 2008 to November 2010. Mr. Owens spent 22 years with National Starch's adhesives business, a division of ICI in a variety of management positions including Corporate Vice President and General Manager of the North American adhesives business; Division Vice President and General Manager of Europe; Business Director of The Pressure Sensitive and Laminating Adhesives Business Unit; Marketing Manager; and Technical Services Manager. Mr. Owens served as Senior Vice President at Henkel. He joined Henkel earlier this year, running the North American adhesives business, upon its acquisition of National Starch. He has been an Independent Director at H.B. Fuller Company since November 22, 2010 and Donaldson Company, Inc. since March 22, 2013. He currently serves on the Board of Overseers of the Carlson School of Management at the University of Minnesota. Mr. Owens serves as the Chairman of The Adhesive and Sealant Council, the industry's Premier Trade Association. Mr. Owens earned a bachelor's Degree in Chemical Engineering from the University of Delaware and a Master's in Business Administration from the Wharton Business School.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year.
  • Insufficient data for Jim to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the H.B. Fuller management team in years:

3.3
Average Tenure
53
Average Age
  • The tenure for the H.B. Fuller management team is about average.
Management Team

Jim Owens

TITLE
President
COMPENSATION
$5M
AGE
53
TENURE
8.4 yrs

John Corkrean

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
52
TENURE
2.9 yrs

Traci Jensen

TITLE
Senior Vice President of Global Construction Products
COMPENSATION
$1M
AGE
51
TENURE
6.3 yrs

Patrick Kivits

TITLE
Senior Vice President of Europe
COMPENSATION
$1M
AGE
50
TENURE
3.6 yrs

Zhiwei Cai

TITLE
Senior Vice President of Global Engineering - Adhesive segment
COMPENSATION
$1M
AGE
55
TENURE
1.3 yrs

Abe Rezai

TITLE
VP and Chief Technology & Innovation Officer
AGE
66
TENURE
2.5 yrs

Barbara Doyle

TITLE
Vice President of Investor Relations
TENURE
0.7 yrs

Tim Keenan

TITLE
VP, General Counsel & Corporate Secretary
COMPENSATION
$598K
AGE
60
TENURE
13.3 yrs

Paula Cooney

TITLE
Vice President of Human Resources
AGE
49
TENURE
3 yrs

Steve Kenny

TITLE
Senior Vice President of Emerging Markets
COMPENSATION
$1M
AGE
56
TENURE
9.5 yrs
Board of Directors Tenure

Average tenure and age of the H.B. Fuller board of directors in years:

8.3
Average Tenure
63
Average Age
  • The tenure for the H.B. Fuller board of directors is about average.
Board of Directors

Lee Mitau

TITLE
Independent Chairman & Presiding Director
COMPENSATION
$298K
AGE
69
TENURE
12.3 yrs

Jim Owens

TITLE
President
COMPENSATION
$5M
AGE
53
TENURE
8.4 yrs

Bill Van Sant

TITLE
Vice Chairman
COMPENSATION
$258K
AGE
79
TENURE
8.3 yrs

John van Roden

TITLE
Independent Director
COMPENSATION
$213K
AGE
68
TENURE
15.3 yrs

Mike Losh

TITLE
Independent Director
COMPENSATION
$200K
AGE
72
TENURE
18.3 yrs

Tom Handley

TITLE
Independent Director
COMPENSATION
$209K
AGE
63
TENURE
8.8 yrs

Dante Parrini

TITLE
Independent Director
COMPENSATION
$208K
AGE
53
TENURE
6.6 yrs

Tessa Hilado

TITLE
Director
COMPENSATION
$210K
AGE
53
TENURE
5.5 yrs

Ruth Kimmelshue

TITLE
Director
TENURE
1.5 yrs

Dan Florness

TITLE
Independent Director
AGE
55
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • H.B. Fuller insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Feb 19 Sell Robert Martsching Individual 15. Feb 19 15. Feb 19 -3,215 $48.86 $-157,094
13. Aug 18 Sell Traci Jensen Individual 09. Aug 18 09. Aug 18 -4,508 $57.45 $-258,976
01. Aug 18 Sell Timothy Keenan Individual 30. Jul 18 30. Jul 18 -2,913 $56.34 $-164,112
01. Aug 18 Sell Steven Kenny Individual 30. Jul 18 30. Jul 18 -2,200 $56.19 $-123,616
02. Jul 18 Sell Robert Van Sant Individual 29. Jun 18 29. Jun 18 -5,500 $54.12 $-297,643
X
Management checks
We assess H.B. Fuller's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. H.B. Fuller has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why You Should Care About H.B. Fuller Company’s (NYSE:FUL) Low Return On Capital

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

The H.B. Fuller (NYSE:FUL) Share Price Is Up 16% And Shareholders Are Holding On

Fuller Company (NYSE:FUL) share price return of 16% over three years lags the market return in the same period. … During three years of share price growth, H.B. … The average annual share price increase of 5.2% is actually lower than the EPS growth.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand H.B. Fuller Company (NYSE:FUL)

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … Fuller has a price to earnings ratio of 14.05, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Will H.B. Fuller Company's (NYSE:FUL) Earnings Grow In Next 12 Months?

Fuller Company's (NYSE:FUL) earnings update in December 2018, … as a -3.9% fall in profits is expected in the upcoming year

Simply Wall St -

Is H.B. Fuller Company (NYSE:FUL) Potentially Undervalued?

Fuller Company (NYSE:FUL), which is in the chemicals business, and is based in United States,. … received a lot of attention from a substantial price increase on the NYSE over the last few months. … Fuller’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

H.B. Fuller Company (NYSE:FUL): What's The Analyst Consensus Outlook?

Want to participate in a short research study? … Help shape the future of investing tools and receive a $20 prize! … Fuller Company's (NYSE:FUL) announced in December 2018a

Simply Wall St -

Is H.B. Fuller Company's (NYSE:FUL) CEO Being Overpaid?

First, this article will compare CEO compensation with compensation at similar sized companies. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Jim Owens's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is H.B. Fuller Company's (NYSE:FUL) 15% ROE Strong Compared To Its Industry?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every $1 worth of shareholders' equity, it generated $0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Why H.B. Fuller Company’s (NYSE:FUL) Return On Capital Employed Might Be A Concern

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

These Factors Make H.B. Fuller Company (NYSE:FUL) An Interesting Investment

Fuller Company (NYSE:FUL) is a company with exceptional fundamental characteristics. … Upon building up an investment case for a stock, we should look at various aspects. … that has been a rockstar for income investors, currently trading at an attractive share price

Simply Wall St -

Company Info

Description

H.B. Fuller Company, together with its subsidiaries, formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, and other specialty chemical products worldwide. The company operates through five segments: Americas Adhesives, EIMEA, Asia Pacific, Construction Adhesives, and Engineering Adhesives. It produces and supplies industrial adhesives products for applications in various markets, including appliances, filters, and insulating glass; food and beverage containers, flexible packaging, consumer goods, package integrity and re-enforcement, and durable and non-durable goods; corrugation, folding carton, tape and label, paper converting, envelopes, books, multi-wall bags, sacks, and tissue and towel; nonwoven and hygiene, such as disposable diapers, feminine care, and medical garments; windows, doors, and wood flooring; and insulating glass and textile. The company also provides specialty adhesives, including thermoplastic, thermoset, reactive, water-based, and solvent-based products; and products used for tile setting, commercial roofing, heating, ventilation, and air conditioning and insulation applications, as well as caulks and sealants for the consumer market and professional trade. In addition, it produces and supplies high performance industrial adhesives to the transportation, electronics, medical, clean energy, aerospace and defense, appliance, and heavy machinery markets. The company sells its products directly through distributors and retailers. H.B. Fuller Company was founded in 1887 and is headquartered in Saint Paul, Minnesota.

Details
Name: H.B. Fuller Company
FUL
Exchange: NYSE
Founded: 1887
$2,551,907,875
50,885,501
Website: http://www.hbfuller.com
Address: H.B. Fuller Company
1200 Willow Lake Boulevard,
PO Box 64683,
Saint Paul,
Minnesota, 55164,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE FUL Common Stock New York Stock Exchange US USD 02. Jan 1980
DB HB1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1980
Number of employees
Current staff
Staff numbers
6,479
H.B. Fuller employees.
Industry
Specialty Chemicals
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 23:48
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/09
Last earnings filing: 2019/03/29
Last earnings reported: 2019/03/02
Last annual earnings reported: 2018/12/01


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.