Intrinsic value of H.B. Fuller - FUL

Previous Close

$46.03

  Intrinsic Value

$203.44

stock screener

  Rating & Target

str. buy

+342%

Previous close

$46.03

 
Intrinsic value

$203.44

 
Up/down potential

+342%

 
Rating

str. buy

We calculate the intrinsic value of FUL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  40.50
  36.95
  33.76
  30.88
  28.29
  25.96
  23.87
  21.98
  20.28
  18.75
  17.38
  16.14
  15.03
  14.02
  13.12
  12.31
  11.58
  10.92
  10.33
  9.80
  9.32
  8.88
  8.50
  8.15
  7.83
  7.55
  7.29
  7.06
  6.86
  6.67
Revenue, $m
  3,240
  4,437
  5,935
  7,768
  9,965
  12,552
  15,548
  18,966
  22,812
  27,090
  31,798
  36,930
  42,479
  48,437
  54,792
  61,536
  68,661
  76,159
  84,025
  92,256
  100,851
  109,811
  119,140
  128,846
  138,936
  149,424
  160,323
  171,648
  183,420
  195,658
Variable operating expenses, $m
  2,831
  3,791
  4,991
  6,460
  8,222
  10,296
  12,697
  15,437
  18,520
  21,949
  25,489
  29,603
  34,051
  38,826
  43,921
  49,327
  55,038
  61,049
  67,354
  73,952
  80,841
  88,023
  95,502
  103,282
  111,370
  119,777
  128,514
  137,592
  147,028
  156,838
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,831
  3,791
  4,991
  6,460
  8,222
  10,296
  12,697
  15,437
  18,520
  21,949
  25,489
  29,603
  34,051
  38,826
  43,921
  49,327
  55,038
  61,049
  67,354
  73,952
  80,841
  88,023
  95,502
  103,282
  111,370
  119,777
  128,514
  137,592
  147,028
  156,838
Operating income, $m
  409
  647
  944
  1,307
  1,743
  2,257
  2,851
  3,529
  4,292
  5,141
  6,309
  7,327
  8,428
  9,610
  10,871
  12,209
  13,623
  15,111
  16,671
  18,304
  20,009
  21,787
  23,638
  25,564
  27,566
  29,647
  31,809
  34,056
  36,392
  38,820
EBITDA, $m
  722
  989
  1,322
  1,731
  2,220
  2,797
  3,464
  4,225
  5,082
  6,035
  7,084
  8,228
  9,464
  10,791
  12,207
  13,710
  15,297
  16,967
  18,720
  20,554
  22,468
  24,465
  26,543
  28,705
  30,954
  33,290
  35,718
  38,241
  40,864
  43,590
Interest expense (income), $m
  30
  132
  205
  298
  414
  557
  727
  928
  1,161
  1,427
  1,725
  2,058
  2,423
  2,822
  3,253
  3,716
  4,210
  4,734
  5,287
  5,870
  6,481
  7,120
  7,788
  8,484
  9,208
  9,962
  10,746
  11,561
  12,408
  13,287
  14,202
Earnings before tax, $m
  277
  442
  646
  893
  1,187
  1,529
  1,923
  2,368
  2,866
  3,416
  4,251
  4,904
  5,606
  6,357
  7,155
  8,000
  8,889
  9,823
  10,802
  11,824
  12,889
  14,000
  15,155
  16,355
  17,604
  18,900
  20,248
  21,649
  23,104
  24,618
Tax expense, $m
  75
  119
  174
  241
  320
  413
  519
  639
  774
  922
  1,148
  1,324
  1,514
  1,716
  1,932
  2,160
  2,400
  2,652
  2,916
  3,192
  3,480
  3,780
  4,092
  4,416
  4,753
  5,103
  5,467
  5,845
  6,238
  6,647
Net income, $m
  202
  322
  471
  652
  866
  1,116
  1,404
  1,729
  2,092
  2,493
  3,103
  3,580
  4,092
  4,641
  5,223
  5,840
  6,489
  7,171
  7,885
  8,631
  9,409
  10,220
  11,063
  11,939
  12,851
  13,797
  14,781
  15,803
  16,866
  17,971

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,125
  8,388
  11,219
  14,684
  18,838
  23,729
  29,392
  35,852
  43,123
  51,210
  60,109
  69,811
  80,301
  91,562
  103,577
  116,326
  129,794
  143,969
  158,838
  174,397
  190,644
  207,581
  225,217
  243,564
  262,640
  282,465
  303,067
  324,477
  346,729
  369,863
Adjusted assets (=assets-cash), $m
  6,125
  8,388
  11,219
  14,684
  18,838
  23,729
  29,392
  35,852
  43,123
  51,210
  60,109
  69,811
  80,301
  91,562
  103,577
  116,326
  129,794
  143,969
  158,838
  174,397
  190,644
  207,581
  225,217
  243,564
  262,640
  282,465
  303,067
  324,477
  346,729
  369,863
Revenue / Adjusted assets
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
  0.529
Average production assets, $m
  1,857
  2,542
  3,401
  4,451
  5,710
  7,193
  8,909
  10,867
  13,071
  15,523
  18,220
  21,161
  24,341
  27,754
  31,396
  35,260
  39,343
  43,639
  48,147
  52,863
  57,787
  62,921
  68,267
  73,829
  79,611
  85,620
  91,865
  98,354
  105,099
  112,112
Working capital, $m
  700
  958
  1,282
  1,678
  2,152
  2,711
  3,358
  4,097
  4,927
  5,851
  6,868
  7,977
  9,176
  10,462
  11,835
  13,292
  14,831
  16,450
  18,149
  19,927
  21,784
  23,719
  25,734
  27,831
  30,010
  32,276
  34,630
  37,076
  39,619
  42,262
Total debt, $m
  3,796
  5,518
  7,673
  10,309
  13,470
  17,192
  21,502
  26,418
  31,952
  38,106
  44,878
  52,261
  60,244
  68,814
  77,957
  87,659
  97,908
  108,695
  120,011
  131,851
  144,215
  157,104
  170,525
  184,487
  199,004
  214,091
  229,769
  246,062
  262,996
  280,601
Total liabilities, $m
  4,661
  6,383
  8,538
  11,174
  14,336
  18,057
  22,367
  27,283
  32,817
  38,971
  45,743
  53,126
  61,109
  69,679
  78,822
  88,524
  98,774
  109,560
  120,876
  132,716
  145,080
  157,969
  171,390
  185,352
  199,869
  214,956
  230,634
  246,927
  263,861
  281,466
Total equity, $m
  1,464
  2,005
  2,681
  3,509
  4,502
  5,671
  7,025
  8,569
  10,306
  12,239
  14,366
  16,685
  19,192
  21,883
  24,755
  27,802
  31,021
  34,408
  37,962
  41,681
  45,564
  49,612
  53,827
  58,212
  62,771
  67,509
  72,433
  77,550
  82,868
  88,397
Total liabilities and equity, $m
  6,125
  8,388
  11,219
  14,683
  18,838
  23,728
  29,392
  35,852
  43,123
  51,210
  60,109
  69,811
  80,301
  91,562
  103,577
  116,326
  129,795
  143,968
  158,838
  174,397
  190,644
  207,581
  225,217
  243,564
  262,640
  282,465
  303,067
  324,477
  346,729
  369,863
Debt-to-equity ratio
  2.590
  2.750
  2.860
  2.940
  2.990
  3.030
  3.060
  3.080
  3.100
  3.110
  3.120
  3.130
  3.140
  3.140
  3.150
  3.150
  3.160
  3.160
  3.160
  3.160
  3.170
  3.170
  3.170
  3.170
  3.170
  3.170
  3.170
  3.170
  3.170
  3.170
Adjusted equity ratio
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239
  0.239

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  202
  322
  471
  652
  866
  1,116
  1,404
  1,729
  2,092
  2,493
  3,103
  3,580
  4,092
  4,641
  5,223
  5,840
  6,489
  7,171
  7,885
  8,631
  9,409
  10,220
  11,063
  11,939
  12,851
  13,797
  14,781
  15,803
  16,866
  17,971
Depreciation, amort., depletion, $m
  313
  342
  379
  423
  477
  540
  613
  696
  790
  894
  775
  900
  1,036
  1,181
  1,336
  1,500
  1,674
  1,857
  2,049
  2,249
  2,459
  2,678
  2,905
  3,142
  3,388
  3,643
  3,909
  4,185
  4,472
  4,771
Funds from operations, $m
  515
  664
  850
  1,075
  1,343
  1,656
  2,016
  2,425
  2,882
  3,388
  3,879
  4,480
  5,128
  5,822
  6,559
  7,340
  8,163
  9,028
  9,934
  10,881
  11,868
  12,897
  13,968
  15,081
  16,238
  17,441
  18,690
  19,989
  21,338
  22,742
Change in working capital, $m
  202
  259
  324
  396
  475
  559
  647
  738
  831
  924
  1,017
  1,109
  1,199
  1,287
  1,373
  1,457
  1,539
  1,620
  1,699
  1,778
  1,856
  1,935
  2,015
  2,096
  2,180
  2,265
  2,354
  2,446
  2,543
  2,643
Cash from operations, $m
  313
  406
  526
  679
  868
  1,097
  1,369
  1,687
  2,051
  2,464
  2,862
  3,372
  3,930
  4,535
  5,186
  5,883
  6,624
  7,409
  8,235
  9,103
  10,012
  10,962
  11,953
  12,985
  14,059
  15,175
  16,336
  17,542
  18,796
  20,098
Maintenance CAPEX, $m
  -56
  -79
  -108
  -145
  -189
  -243
  -306
  -379
  -462
  -556
  -661
  -775
  -900
  -1,036
  -1,181
  -1,336
  -1,500
  -1,674
  -1,857
  -2,049
  -2,249
  -2,459
  -2,678
  -2,905
  -3,142
  -3,388
  -3,643
  -3,909
  -4,185
  -4,472
New CAPEX, $m
  -536
  -686
  -858
  -1,050
  -1,259
  -1,482
  -1,717
  -1,958
  -2,204
  -2,451
  -2,698
  -2,941
  -3,180
  -3,413
  -3,642
  -3,865
  -4,083
  -4,296
  -4,507
  -4,716
  -4,925
  -5,134
  -5,346
  -5,561
  -5,782
  -6,009
  -6,245
  -6,490
  -6,745
  -7,012
Cash from investing activities, $m
  -592
  -765
  -966
  -1,195
  -1,448
  -1,725
  -2,023
  -2,337
  -2,666
  -3,007
  -3,359
  -3,716
  -4,080
  -4,449
  -4,823
  -5,201
  -5,583
  -5,970
  -6,364
  -6,765
  -7,174
  -7,593
  -8,024
  -8,466
  -8,924
  -9,397
  -9,888
  -10,399
  -10,930
  -11,484
Free cash flow, $m
  -279
  -359
  -440
  -516
  -580
  -628
  -653
  -651
  -615
  -544
  -496
  -344
  -151
  86
  364
  683
  1,041
  1,438
  1,871
  2,338
  2,838
  3,369
  3,929
  4,518
  5,135
  5,778
  6,448
  7,144
  7,866
  8,614
Issuance/(repayment) of debt, $m
  1,344
  1,722
  2,155
  2,636
  3,161
  3,722
  4,310
  4,916
  5,533
  6,154
  6,772
  7,383
  7,983
  8,570
  9,143
  9,702
  10,250
  10,786
  11,316
  11,840
  12,364
  12,889
  13,421
  13,962
  14,516
  15,087
  15,678
  16,293
  16,934
  17,605
Issuance/(repurchase) of shares, $m
  218
  219
  205
  176
  127
  53
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,562
  1,941
  2,360
  2,812
  3,288
  3,775
  4,310
  4,916
  5,533
  6,154
  6,772
  7,383
  7,983
  8,570
  9,143
  9,702
  10,250
  10,786
  11,316
  11,840
  12,364
  12,889
  13,421
  13,962
  14,516
  15,087
  15,678
  16,293
  16,934
  17,605
Total cash flow (excl. dividends), $m
  1,283
  1,582
  1,920
  2,297
  2,708
  3,146
  3,656
  4,266
  4,918
  5,610
  6,276
  7,039
  7,832
  8,655
  9,507
  10,385
  11,291
  12,224
  13,186
  14,178
  15,202
  16,258
  17,350
  18,480
  19,651
  20,865
  22,126
  23,436
  24,799
  26,219
Retained Cash Flow (-), $m
  -420
  -541
  -677
  -828
  -993
  -1,169
  -1,353
  -1,544
  -1,738
  -1,933
  -2,127
  -2,319
  -2,507
  -2,691
  -2,871
  -3,047
  -3,219
  -3,388
  -3,554
  -3,719
  -3,883
  -4,048
  -4,215
  -4,385
  -4,559
  -4,738
  -4,924
  -5,117
  -5,318
  -5,529
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  863
  1,041
  1,243
  1,469
  1,715
  1,977
  2,303
  2,722
  3,180
  3,678
  4,149
  4,720
  5,325
  5,964
  6,635
  7,338
  8,072
  8,837
  9,633
  10,460
  11,319
  12,210
  13,135
  14,096
  15,092
  16,127
  17,202
  18,319
  19,481
  20,690
Discount rate, %
  10.40
  10.92
  11.47
  12.04
  12.64
  13.27
  13.94
  14.63
  15.37
  16.13
  16.94
  17.79
  18.68
  19.61
  20.59
  21.62
  22.70
  23.84
  25.03
  26.28
  27.59
  28.97
  30.42
  31.94
  33.54
  35.22
  36.98
  38.83
  40.77
  42.81
PV of cash for distribution, $m
  781
  846
  898
  932
  946
  936
  924
  913
  879
  824
  742
  662
  575
  486
  400
  320
  249
  188
  138
  98
  68
  45
  29
  18
  11
  6
  4
  2
  1
  0
Current shareholders' claim on cash, %
  91.4
  85.7
  81.9
  79.6
  78.3
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9
  77.9

H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Company's segments include Americas Adhesives, Europe, India, Middle East and Africa (EIMEA), Asia Pacific, Construction Products and Engineering Adhesives. The Americas Adhesives, EIMEA and Asia Pacific operating segments produce and supply industrial adhesives products for applications in various markets, including durable assembly, nonwoven and hygiene, and textile. The Construction Products operating segment includes products used for tile setting and heating, ventilation and air conditioning and insulation applications. The Engineering Adhesives operating segment produces and supplies industrial adhesives to the transportation, appliance and heavy machinery markets, among others. As of December 3, 2016, its sales operations spanned 38 countries in North America, Europe, Latin America, the Asia Pacific region, India, the Middle East and Africa.

FINANCIAL RATIOS  of  H.B. Fuller (FUL)

Valuation Ratios
P/E Ratio 18.6
Price to Sales 1.1
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 11.8
Price to Free Cash Flow 17.4
Growth Rates
Sales Growth Rate 0.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 6.8%
Cap. Spend. - 3 Yr. Gr. Rate -12.7%
Financial Strength
Quick Ratio 1
Current Ratio 0.2
LT Debt to Equity 62.5%
Total Debt to Equity 74.9%
Interest Coverage 7
Management Effectiveness
Return On Assets 7.1%
Ret/ On Assets - 3 Yr. Avg. 5.3%
Return On Total Capital 7.7%
Ret/ On T. Cap. - 3 Yr. Avg. 5.6%
Return On Equity 13.7%
Return On Equity - 3 Yr. Avg. 9.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 29.1%
Gross Margin - 3 Yr. Avg. 27.2%
EBITDA Margin 13.1%
EBITDA Margin - 3 Yr. Avg. 11%
Operating Margin 9.7%
Oper. Margin - 3 Yr. Avg. 7.4%
Pre-Tax Margin 8%
Pre-Tax Margin - 3 Yr. Avg. 6.1%
Net Profit Margin 5.9%
Net Profit Margin - 3 Yr. Avg. 4.2%
Effective Tax Rate 29.9%
Eff/ Tax Rate - 3 Yr. Avg. 37.9%
Payout Ratio 22.6%

FUL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FUL stock intrinsic value calculation we used $2306.043 million for the last fiscal year's total revenue generated by H.B. Fuller. The default revenue input number comes from 0001 income statement of H.B. Fuller. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FUL stock valuation model: a) initial revenue growth rate of 40.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.4%, whose default value for FUL is calculated based on our internal credit rating of H.B. Fuller, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of H.B. Fuller.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FUL stock the variable cost ratio is equal to 90.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FUL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for H.B. Fuller.

Corporate tax rate of 27% is the nominal tax rate for H.B. Fuller. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FUL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FUL are equal to 57.3%.

Life of production assets of 23.5 years is the average useful life of capital assets used in H.B. Fuller operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FUL is equal to 21.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1043.627 million for H.B. Fuller - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 50.612 million for H.B. Fuller is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of H.B. Fuller at the current share price and the inputted number of shares is $2.3 billion.

RELATED COMPANIES Price Int.Val. Rating
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CCF Chase 111.77 370.43  str.buy

COMPANY NEWS

▶ H.B. Fuller Announces Quarterly Dividend   [Oct-04-18 03:10PM  GlobeNewswire]
▶ H. B. Fuller: Fiscal 3Q Earnings Snapshot   [05:01AM  Associated Press]
▶ H.B. Fuller Reports Third Quarter 2018 Results   [Sep-26-18 08:53PM  GlobeNewswire]
▶ 5 Top Chemical Stocks to Buy   [Sep-06-18 03:14PM  InvestorPlace]
▶ H.B. Fuller Named Strategic Supplier by Faurecia   [Jul-25-18 06:38PM  GlobeNewswire]
▶ H.B. Fuller Announces 2018 Analyst and Investor Day   [Jul-18-18 10:42PM  GlobeNewswire]
▶ H.B. Fuller Elects Daniel Florness to Board of Directors   [Jul-12-18 01:10PM  GlobeNewswire]
▶ H.B. Fuller Increases Quarterly Dividend   [12:57PM  GlobeNewswire]
▶ H. B. Fuller: Fiscal 2Q Earnings Snapshot   [05:03AM  Associated Press]
▶ H.B. Fuller Reports Second Quarter 2018 Results   [Jun-27-18 08:31PM  GlobeNewswire]
▶ H.B. Fuller's Q2 Earnings Preview   [07:54AM  Benzinga]
▶ H.B. Fuller Increases Quarterly Dividend   [Apr-12-18 05:41PM  GlobeNewswire]
▶ H. B. Fuller meets 1Q profit forecasts   [Mar-28-18 06:29PM  Associated Press]
▶ H.B. Fuller CEO James Owens' compensation almost doubles   [Feb-28-18 04:15PM  American City Business Journals]
▶ H.B. Fuller Announces Global Price Increase on Adhesives   [Feb-27-18 09:00AM  GlobeNewswire]
▶ H. B. Fuller reports 4Q loss   [05:03AM  Associated Press]
▶ H.B. Fuller Announces Quarterly Dividend   [Jan-18-18 10:46AM  GlobeNewswire]
▶ Stocks Generating Improved Relative Strength: Fuller HB   [03:00AM  Investor's Business Daily]
▶ H.B. Fuller Opens a New Facility in Germany   [Dec-04-17 11:08AM  Market Realist]
▶ H.B. Fuller Finalizes Its Adecol Deal   [Nov-13-17 11:32AM  Market Realist]
▶ H.B. Fuller Announces Quarterly Dividend   [Oct-05-17 01:07PM  GlobeNewswire]
▶ H.B. Fuller Appoints Ruth Kimmelshue to Board of Directors   [Oct-04-17 09:53PM  GlobeNewswire]
▶ H. B. Fuller misses 3Q profit forecasts   [Sep-28-17 09:41PM  Associated Press]
▶ H.B. Fuller Reports Third Quarter 2017 Results   [Sep-27-17 09:30PM  GlobeNewswire]
▶ IBD Rating Upgrades: Fuller HB Flashes Improved Technical Strength   [Sep-22-17 03:00AM  Investor's Business Daily]
▶ [$$] H.B. Fuller Acquisition Forms Tight Bond   [Sep-14-17 02:45PM  Barrons.com]
▶ H.B. Fuller to Acquire Royal Adhesives and Sealants   [Sep-12-17 07:44AM  Market Realist]
▶ Asian markets lower as cautions prevail over security risks   [Sep-05-17 11:37PM  Associated Press]
▶ What Happened in the Stock Market Today   [04:57PM  Motley Fool]

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