FULLER H B CO

Listed Company

FULCIK 0000039368NYSELarge AcceleratedAdhesives & SealantsMinnesotaFY ends Nov 28

Period

FY 2025

Revenue

—

Net Income

$151.97M

Total Assets

$5.18B

Equity

$2.00B

Shares Out

54.49M

Op. Cash Flow

$263.49M

Business

FULLER H B CO is a global formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. It offers industrial adhesives, sealants, pressure-sensitive adhesives, grouts, mortars and related technical support and bespoke solutions for consumer goods, medical, automotive, aerospace, construction and flooring applications. The company operates through three reportable segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. Sales and manufacturing span North America, Europe, Latin America, Asia Pacific, India, the Middle East and Africa, with deliveries direct from regional plants and via distributors and retailers.

Summary from filing dated 2025-01-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Net revenue	3,474	3,569	3,511	3,749	3,278
Cost of sales	−2,393	−2,507	−2,502	−2,785	−2,433
Gross profit	1,081	1,062	1,009	964	845
Selling, general and administrative expenses	−726	−714	−654	−641	−593
Other Operating Income (Expense), Net	−11	−37	10	13	33
Interest expense	−133	−133	−135	−92	−78
Interest income	5	5	4	8	9
Income from continuing operations before income taxes and income from equity method investments	215	183	234	252	217
Income tax expense	−67	−56	−94	−77	−63
Income from equity method investments	4	4	4	6	8
Net income including non-controlling interest	152	130	145	180	161
Net expense attributable to non-controlling interest	−106,000	−139,000	−82,000	−94,000	−82,000
Net income attributable to H.B. Fuller	152	130	145	180	161
Basic (in dollars per share)	2.78	2.37	2.67	3.37	3.05
Diluted (in dollars per share)	2.75	2.3	2.59	3.26	2.97
Basic (in shares)	55	55	54	54	53
Diluted (in shares)	55	57	56	55	54

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-12-31	FY 2022 2022-11-30
Cash and cash equivalents	107	169	179	80	80
Trade receivables, net	564	558	578	607	607
Inventories	472	467	442	492	492
Other current assets	120	104	113	120	120
Total current assets	1,263	1,299	1,312	1,299	1,299
Property, Plant and Equipment, Net	935	882	825	—	734
Goodwill	1,680	1,532	1,487	1,393	1,393
Other intangibles, net	806	770	729	702	702
Other assets	498	450	371	336	336
Total assets	5,183	4,933	4,724	4,464	4,464
Notes payable	0	587,000	2	29	29
Accounts Payable, Current	470	491	440	461	461
Accrued compensation	114	106	96	108	108
Income taxes payable	25	24	48	19	19
Accrued Liabilities, Current	134	97	108	89	89
Total current liabilities	743	719	693	706	706
Long-term debt, net of current maturities	2,017	2,010	1,837	1,736	1,736
Accrued pension liabilities	51	52	50	53	53
Other Liabilities, Noncurrent	368	322	388	358	358
Total liabilities	3,180	3,103	2,968	2,853	2,853
Commitments and contingencies (Note 14)	—	—	—	—	—
Preferred stock (no shares outstanding) Shares authorized 10,045,900	0	0	0	0	0
Common stock, par value $1.00 per share, Shares authorized 160,000,000, Shares outstanding 54,174,963 and 54,657,103 for 2025 and 2024, respectively	54	55	54	54	54
Additional paid-in capital	298	323	301	266	266
Retained earnings	2,026	1,925	1,843	1,741	1,741
Accumulated other comprehensive loss	−375	−473	−443	−451	−451
Total H.B. Fuller stockholders' equity	2,003	1,829	1,755	1,610	1,610
Non-controlling interest	−24,000	1	708,000	624,000	624,000
Total equity	2,003	1,830	1,756	1,611	1,611
Total liabilities, non-controlling interest and total equity	5,183	4,933	4,724	4,464	4,464

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Depreciation	92	91	80	73	72
Amortization	87	84	80	74	71
Deferred income taxes	−50	−36	−25	−15	16
(Income) loss from equity method investments, net of dividends received	−13,000	−537,000	1	−9,000	3
(Gain) loss on disposal of assets	−4	−501,000	59,000	—	—
Share-based compensation	22	22	20	24	22
Loss on the sale of a business	2	0	0	—	—
Loss on impairment of intangible asset	924,000	0	0	—	—
Pension and other postretirement benefit plan contributions	−3	−3	−4	−3	−4
Pension and other postretirement benefit plan benefit	−21	−14	−19	−24	−29
Loss on impairment of assets held for sale	0	47	0	0	—
Loss on impairment of equity investment	0	2	0	0	—
Gain from insurance proceeds	0	−5	0	0	—
Debt issuance cost write-off	0	0	3	0	0
(Gain) loss on fair value adjustment on contingent consideration liabilities	0	−500,000	3	0	2
Trade receivables, net	−3	11	69	−25	−125
Inventories	−10	−30	73	−56	−135
Other assets	−29	−17	−8	46	−79
Trade payables	−38	48	−58	−23	176
Accrued compensation	5	13	−14	—	—
Other accrued expenses	36	6	−3	6	1
Income taxes payable	−6	−23	41	−13	−4
Other liabilities	35	−30	23	4	−74
Foreign currency remeasurement	−2	10	−28	6	—
Net cash provided by operating activities	263	302	378	257	213
Purchased property, plant and equipment	−142	−139	−119	−130	−96
Purchased businesses, net of cash acquired	−167	−274	−205	−251	−5
Proceeds from the sale of a business	76	0	0	—	0
Purchase of cost method investment	−3	0	0	—	—
Purchase of non-controlling interest	−1	0	0	—	—
Proceeds from sale of property, plant and equipment	5	1	5	2	3
Proceeds from insurance recoveries	0	5	0	0	—
Net cash used in investing activities	−232	−407	−319	−375	−95
Proceeds from issuance of long-term debt	1,300	1,933	2,233	335	0
Repayment of long-term debt	−1,305	−1,765	−2,126	−160	−157
Payment of debt issue costs	−1	−3	−10	−600,000	0
Net payment on notes payable	−587,000	−1	−29	3	9
Dividends paid	−50	−48	−43	−39	−35
Proceeds from stock options exercised	10	36	15	30	32
Repurchases of common stock	−61	−40	−3	−4	−3
Contingent consideration payment	0	0	−1	−5	−2
Net cash (used in) provided by financing activities	−108	112	35	160	−154
Net change in cash and cash equivalents	−62	−10	100	18	−39
Effect of exchange rate changes on cash and cash equivalents	15	−18	5	−23	−3
Dividends paid with company stock	386,000	404,000	363,000	348,000	339,000
Cash paid for interest, net of amount capitalized of $562, $1,859, and $1,769 for the years ended November 29, 2025, November 30, 2024 and December 2, 2023, respectively	133	135	137	84	63
Cash paid for income taxes, net of refunds	125	123	71	73	73

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