|FBIN Overview
FBIN

Fortune Brands Innovations, Inc.

Industrials • CIK: 0001519751

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Market Cap
$6.48B
P/E (TTM)
19.8x
Rev Growth (TTM)
-3.8%
Net Margin (TTM)
7.3%
FCF Yield (TTM)
6.1%
FCF Margin (TTM)
8.8%

LATEST EARNINGS

Q4 2025
22 days ago
View source
Revenue
$1.08B
-2.4%
Net Income
N/A
EPS
$0.63
-25.0%
Operating
11.3% -4.8%
  • Generated $208.2 million of operating cash flow and $183.7 million of free cash flow in Q4 2025.
  • Full-year 2025 free cash flow was $366.8 million, representing a cash conversion ratio of over 120 percent.
  • Company outperformed its end market in 2025 and remains confident in its strategy, investing in brand building, innovation, and people.
  • Water Innovations segment operating margin before charges/gains was 22.8% in Q4 2025, a decrease of 90 bps YoY, but remains strong.

Cash Flow Health

Free Cash Flow6/8 positive
TTM$395M
Q '25
$177M+49%
Q2 '25
$119M+205%
FCF Margin
TTM8.8%
Q '2515.4%+56%
Sector: 5.4%Above Avg
OCF Margin12.1%
OCF/NI1.66x
CapEx Coverage3.7x
FCF Yield6.1%
FCF Growth (2Y)
Cash Conversion Cycle
117 days
DSO: 46+DIO: 147DPO: 76

Capital Allocation & Returns

Shareholder Friendly
Total Shareholder YieldTTM
TTM6.8%
Div Yield2.3%
+
Buyback (TTM)4.4%

Strong capital returns to shareholders

Dividend & Payout Metrics
Dividend Yield (TTM)2.3%
FCF Payout Ratio37.9%
Free Cash Flow (TTM)$395.2M
Stock Repurchases (TTM)$287.8M
Capital Return / FCF103.2%
Est. Dividends Paid (TTM)$149.6M
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
15.5%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
9.4%
8Q: 10.2%
Asset Turnover
0.68x
8Q: 0.69x
Leverage (1+D/E)
Asset & CapEx Efficiency
Fixed Asset Turn
4.62x
8Q:
Invested Cap Turn
1.65x
8Q:
CapEx Intensity
5.4%
8Q:
CapEx/Depreciation
1.20x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ 2025Q2 2025Q1 2025Q4 2024Q 2024Q2 2024Q1 2024Q4 2023
Revenue
$4.5B
$1.1B4.5%
$1.2B16.5%
$1.0B6.4%
$1.1B4.4%
$1.2B6.8%
$1.2B11.8%
$1.1B4.5%
$1.2B
Operating Income
$572.8M
$125.9M26.6%
$171.6M76.9%
$97.0M45.6%
$178.3M13.1%
$205.1M3.0%
$199.1M28.1%
$155.4M16.1%
$133.9M
Net Income
$327.6M
$70.8M29.4%
$100.3M95.1%
$51.4M51.1%
$105.1M23.1%
$136.6M2.0%
$133.9M38.9%
$96.4M18.6%
$81.3M
Operating Cash Flow
$542.7M
$204.4M36.8%
$149.4M279.1%
$-83.4M130.6%
$272.3M32.6%
$205.3M21.5%
$261.5M466.8%
$-71.3M132.4%
$220.2M
Free Cash Flow
$395.2M
$177.0M49.1%
$118.7M205.4%
$-112.6M153.1%
$212.1M20.8%
$175.6M21.1%
$222.7M263.9%
$-135.9M197.5%
$139.4M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
19.8x
Valuation Lenses
Earnings
19.8x
vs sector
Cash Flow
34.1x
EV/FCF vs
Growth-Adj
PEG
N/A
Quality-Adj
1.3P/E per %ROIC
ROIC: 15.5%
Shareholder Returns
Dividend
2.3%
Buyback
4.4%
Total Yield
6.8%
Market Cap$6.48B
EV
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
87/100
Exceptional

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)
8Q:
Return on Invested Capital (ROIC)Top 25%
15.5%
8Q:
vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 9.4%
Asset Turnover: 0.68x

Earnings Quality

Cash Conversion

1.66x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin45.1%

Capital Efficiency

Invested Capital Turnover1.65x

Working Capital

Cash Conversion Cycle117 days

Growth Quality & Momentum

Low Quality
Growth Quality Score
46/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
-3.8%
OpInc Growth YoY
-38.6%
EPS Growth YoY
-24.5%
FCF 3Y CAGR
N/A

Growth Quality Analysis

Sustainability Index: 3.0/10 - Growth sustainability concerns

Margin Quality & Sustainability

Moderate
Profitability Cascade
Gross
45.1%
Operating
12.8%
Above Avg in sector
Net
7.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+1.5 pts
FCF: 8.8% | Net: 7.3%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Net Debt / EBITDA
Net Debt: $2.43B
Interest Coverage
Leverage Metrics
Debt-to-Equity
x
Balance sheet risk & solvency analysis