H.B. Fuller Company (FUL) Cash Flow: Operating & Free Cash Flow

H.B. Fuller Company (FUL) Cash Flow Statement

In fiscal 2025 (fiscal year ended Nov 30, 2025), H.B. Fuller Company generated $263.49M of operating cash flow and spent $142.28M on capital expenditures. That left free cash flow of $121.22M, down 25.7% from $163.20M a year earlier, or 3.5% of revenue. It returned $110.98M to shareholders through $50.27M in dividends and $60.71M in share buybacks.

H.B. Fuller Company Cash Flow Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Cash flow statement showing operating, investing, and financing activities for H.B. Fuller Company (FUL) - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Nov 2025	Nov 2024	Dec 2023	Nov 2023	Dec 2022	Nov 2022	Nov 2021	Nov 2020	Nov 2019	Nov 2018	Dec 2017
Operating Activities
Net Income	0.15	0.13	0.14	0.14	0.18	0.18	0.16	0.12	0.13	0.17	0.06
Depreciation & Amortization	0.18	0.17	0.16	0.16	0.15	0.15	0.14	0.14	0.14	0.15	0.09
Deferred Income Tax	-0.05	-0.04	-	-0.03	-	-0.02	0.02	-0.02	-0.03	-0.05	-0.02
Stock Based Compensation	0.00	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Change in Working Capital	-0.01	-0.02	0.12	0.12	-0.06	-0.06	-0.21	0.11	0.01	-0.09	0.02
Change in Accounts Receivable	0.00	0.01	0.07	0.07	-0.02	-0.02	-0.12	-0.01	-0.03	-0.04	-0.03
Change in Inventory	-0.01	-0.03	0.07	0.07	-0.06	-0.06	-0.14	0.02	0.02	-0.02	-0.01
Change in Accounts Payable	-0.04	0.02	-0.06	-0.02	-0.02	-0.04	0.18	0.02	0.01	0.03	0.04
Change in Other Working Capital	0.04	-0.01	0.01	0.01	0.05	0.01	-0.13	0.09	0.00	-0.06	0.01
Other Operating Activities	0.00	-0.01	-0.07	0.01	-0.04	0.01	0.08	-0.03	-0.01	0.06	0.01
Net Cash from Operating Activities	0.26	0.30	0.38	0.38	0.26	0.26	0.21	0.33	0.27	0.25	0.14
Investing Activities
Capital Expenditures	-0.14	-0.14	-0.12	-0.12	-0.13	-0.13	-0.10	-0.09	-0.06	-0.07	-0.05
Acquisitions	-0.09	-0.27	-0.21	-0.21	-0.25	-0.25	-0.01	-0.02	0.05	0.00	-1.75
Purchases of Investments	0.00	0.00	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	0.00	-	0.01	0.00	0.01	0.01	-0.01	0.02	0.00	0.00
Net Cash from Investing Activities	-0.23	-0.41	-0.32	-0.32	-0.38	-0.38	-0.09	-0.11	0.01	-0.06	-1.80
Financing Activities
Debt Repayment	-0.01	-1.77	-2.13	-2.16	-0.16	-0.16	-0.15	-0.21	-0.29	-0.20	1.78
Common Stock Issued	0.01	0.04	0.01	0.01	0.03	0.00	0.00	0.00	0.00	0.00	0.00
Common Stock Repurchased	-0.06	-0.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.02
Dividends Paid	-0.05	-0.05	-0.04	-0.04	-0.04	-0.04	-0.03	-0.03	-0.03	-0.03	-0.03
Other Financing Activities	0.00	0.00	-0.01	-0.01	-0.01	-0.01	0.03	0.01	0.01	0.01	-0.02
Net Cash from Financing Activities	-0.11	0.11	0.04	0.04	0.16	0.16	-0.15	-0.24	-0.32	-0.23	1.71
Summary
Effect of Forex Changes on Cash	0.01	-0.02	0.01	0.01	-0.02	-0.02	0.00	0.01	0.00	-0.01	0.00
Net Change in Cash	-0.06	-0.01	0.10	0.10	0.02	0.02	-0.04	-0.01	-0.04	-0.04	0.05
Cash at Beginning of Period	0.17	0.18	-	0.08	-	0.06	0.10	0.11	0.15	0.19	0.14
Cash at End of Period	0.11	0.17	-	0.18	-	0.08	0.06	0.10	0.11	0.15	0.19
Free Cash Flow	0.12	0.16	0.26	0.26	0.13	0.13	0.12	0.24	0.21	0.19	0.09
Supplemental Disclosures
Interest Paid	0.13	0.13	0.14	-	0.08	-	0.06	-	-	-	-
Income Taxes Paid	0.13	0.12	0.07	-	0.07	-	0.07	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Aug 31, 2026. Data sources and methodology

Frequently Asked Questions About H.B. Fuller Company Cash Flow

What is H.B. Fuller Company's free cash flow?

H.B. Fuller Company generated free cash flow of $121.22M in fiscal 2025 (fiscal year ended Nov 30, 2025), operating cash flow of $263.49M minus $142.28M of capital expenditures. That was down 25.7% from $163.20M a year earlier. Free cash flow equaled 3.5% of revenue.

How much does H.B. Fuller Company spend on capital expenditures?

H.B. Fuller Company spent $142.28M on capital expenditures in fiscal 2025, compared with $139.24M a year earlier. That equals 54.0% of operating cash flow.

Does H.B. Fuller Company pay dividends or buy back shares?

Yes. In fiscal 2025 H.B. Fuller Company returned $50.27M in dividends and $60.71M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition