FUL · sample dossier
H.B. Fuller Company
59/100
OutdatedGenerated Sep 19, 2026 · 10:00 AM UTC · 48 days ago
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EquityH.B. Fuller Company · XNYS
Decision context
Recommendation
Balanced between solid Value (91/100) and constrained Momentum (15/100).
A mixed picture — no strong reason to buy or sell right now.
AlphaDog Fair Value
Executive thesis & key metrics
Executive Investment Thesis
H.B. Fuller Company ($2.66B market cap) is an industrial adhesives producer trading at a P/E ratio of 14.93 and an EV/EBITDA of 7.85 at $49.41 per share. Operating results show 61.8% YoY EPS growth and $2.56 (four-quarter statements) free cash flow per share$2.56 (four-quarter statements) yet shares face severe downward momentum with a -23.8% 3-month return. The most prominent financial vulnerability is leverage, highlighted by a Debt/Equity ratio of 1.06 alongside an Altman Z-score of 2.07 in the grey zone.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
Score 59 · Hold
Data through
OutdatedMay 31, 2026
Value 91/100 — P/E 14.9x screens cheap vs inputs.
Re-evaluate if
- Net margin falls below 4.2% (was 5.3%)
- Debt/Equity ratio increases above 1.06.
Trim / reconsider if
- ROA falls below 3.3% (was 5.0%)
- Debt/Equity escalates past 1.06 amid margin compression.
Think of these dollars as a map of our value estimate for Hold — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
The consensus view treats H.B.
May be overlooked
The 61.8% YoY EPS surge diverged sharply from sluggish 5.8% revenue growth, indicating that peak cyclical margins rather than underlying organic demand drove bottom-line expansion.
The operational performance metrics relied upon by bulls stem from the quarter ended May 31, 2026, rendering the core earnings data over 110 days stale as of September 19, 2026.
A modest 5.0% ROA combined with a Debt/Equity of 1.10 creates severe financial inflexibility if raw material costs rebound or volume drops.
Expectations look stretched
Extrapolating trailing free cash flow of $4.08 per share despite a fragile 5.3% net margin that provides almost no cushion against cyclical volume contractions.
Assuming the Price/Book multiple of 1.28 will attract institutional value buyers when the stock trades below both its MA50 and MA200 with negative 18.8% one-month returns.
Treating the EV/EBITDA discount against peers like RPM (12.7) and PPG (10.8) as an unearned mispricing rather than a justified reflection of lower asset efficiency and higher leverage.
Revenue Growth YoY decelerates below 5.8%.
Revenue Growth YoY decelerates below 5.8%.
Market context
Snapshot returns at report publication
1 month
-18.8%
3 months
-23.8%
6 months
-1.8%
1 year
-18.6%
At a Glance
A mid-sized company is in a pullback at modest pricing.
Top Holders
Financial trajectory
Financial Performance
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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