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Fuller H B (FUL) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Sep 24, 2026 · Fuller H B (FUL) Q3 FY26 earnings results →

Q3 FY26 Revenue up 5% year over year to $938M · 8¢ of every $1 of revenue kept as net profit · operating margin 11.1%

Fuller H B made $938M in Q3 FY26 (+5% Y/Y). Operating margin 11.1%, net earnings $79.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 24, 2026.

Revenue$938M
Year over year+5%
Operating margin11.1%
Net earnings$79.2M
Operating cash flow$65.5M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $938.2M in Q3 FY26, up 5% year over year and down 1% from the previous quarter.

Gross margin was 33.2%, up 1.3 points from Q3 FY25. Operating profit was $103.8M, a 11.1% margin (down 1.3 points year over year). Operating profit fell $6.3M even though revenue rose $46.1M versus Q3 FY25, so costs grew faster than sales. Operating expenses grew 19% against revenue growth of 5%. Net earnings were $79.2M, up 18% year over year. The effective tax rate was 23.7%.

Operating cash flow was $65.5M (down 34% year over year), 83% of net earnings. Non-cash charges added back $46.0M of depreciation and amortization and $7.6M of share-based compensation. Working capital and other items used $67.3M. Capital expenditures of $37.3M left free cash flow of $28.2M.

Quarterly history

Fuller H B revenue by quarterFuller H B revenue by quarter$923MQ4 FY24$898MQ2 FY25$892MQ3 FY25$895MQ4 FY25$771MQ1 FY26$950MQ2 FY26$938MQ3 FY26
Fuller H B net earnings by quarterFuller H B net earnings by quarter−$7.3MQ4 FY24$41.8MQ2 FY25$67.2MQ3 FY25$29.7MQ4 FY25$21.0MQ1 FY26$67.8MQ2 FY26$79.2MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QSep 24, 2026$938M+5%11.1%$79.2M$65.5M
Q2 FY2610-QJun 25, 2026$950M+6%9.8%$67.8M$121M
Q1 FY2610-QMar 26, 2026$771M-2%3.7%$21.0M−$4.0M
Q4 FY2510-KJan 22, 2026$895M-3%4.7%$29.7M$107M
Q3 FY2510-QSep 25, 2025$892M-3%12.3%$67.2M$99.0M
Q2 FY2510-QJun 26, 2025$898M-2%11.1%$41.8M$111M
Q4 FY2410-KJan 23, 2025$923M+2%8.3%−$7.3M$85.7M

Charts

Fuller H B: revenue growth, year over year and quarter over quarterFuller H B: revenue growth, year over year and quarter over quarterY/YQ/Q+2%Q4 FY24-2%-3%Q2 FY25-3%-1%Q3 FY25-3%+0%Q4 FY25-2%-14%Q1 FY26+6%+23%Q2 FY26+5%-1%Q3 FY26
Latest (Q3 FY26): Y/Y +5%, Q/Q -1%.
Fuller H B: where the cash came from (+) and went (−), TTM to Q3 FY26Fuller H B: where the cash came from (+) and went (−), TTM to Q3 FY26Operating cash flow$289MCapital spending−$189MDividends−$51.9MBuybacks−$48.8MNet borrowing (+) / repaid (−)−$26.3MCash drawn (+) / kept (−)$25.2MShares issued$16.5MOther financing−$15.1MExchange rates$13.1MOther investing−$12.8MAsset & business sales$8.8MAcquisitions−$8.7M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Fuller H B: profit against cash, quarter by quarterFuller H B: profit against cash, quarter by quarterNet incomeOperating cash flow−$7.3M$85.7MQ4 FY24$13.3M−$52.9MQ1 FY25$41.8M$111MQ2 FY25$67.2M$99.0MQ3 FY25$29.7M$107MQ4 FY25$21.0M−$4.0MQ1 FY26$67.8M$121MQ2 FY26$79.2M$65.5MQ3 FY26
Latest (Q3 FY26): Net income $79.2M, Operating cash flow $65.5M.
Fuller H B: diluted shares by fiscal yearFuller H B: diluted shares by fiscal year54MFY2155MFY2256MFY2357MFY2455MFY25
+1.9% since FY21: more shares outstanding (issuance, stock pay).
Fuller H B: long-term debt falling due (FY25)Fuller H B: long-term debt falling due (FY25)$47.4M2026$354M2027$696M2028$9.9M2029$940M2030
Cash $107M, short-term investments —, long-term debt $2.0B at 2025-11-29.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Fuller H B

H.B. Fuller Company was founded in 1887 and incorporated as a Minnesota corporation in 1915. Our stock is traded on the New York Stock Exchange (“NYSE”) under the ticker symbol FUL. As used herein, “H.B. Fuller,” “we," “us,” “our,” “management” or “company” includes H.B. Fuller and its subsidiaries unless otherwise indicated. Where we refer to 2024, 2023 and 2022 herein, the reference is to our fiscal years ended November 30, 2024, December 2, 2023, and December 3, 2022, respectively. We are a leading worldwide formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. Sales operations span 35 countries in North America, Europe, Latin America, Asia Pacific, India, the Middle East and Africa.

In its own words, from its annual report, filed Jan 23, 2025.

Fuller H B against its Adhesives & Sealants peers

The largest companies of the same SEC industry, each at its latest quarter.

CompanyQuarterRevenueY/YOp. margin
FUL Fuller H BQ3 FY26$938M+5%11.1%
CSW CSW IndustrialsQ2 FY27$361M+30%20.9%

Source: Fuller H B 10-Q on SEC EDGAR · CIK 39368 · Adhesives & Sealants

13F: who owns FUL and who is buying

Largest holders of FUL (13F)Largest holders of FUL (13F)BlackRock$484MVanguard Group$376MVanguard Portfolio Management LLC$224MState Street$167MDimensional Fund Advisors LP$167MVanguard Capital Management LLC$143MMairs & Power$142MNeuberger Berman Group LLC$139MKayne Anderson Rudnick Investment…$117MGeode Capital Management, LLC$84.9M
Funds' net buying of FUL by quarter (13F)Funds' net buying of FUL by quarter (13F)$12.3M2024-09−$22.6M2024-12$63.7M2025-03−$112M2025-06$70.8M2025-09$52.6M2025-12$87.3M2026-03−$57.5M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FUL

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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