FBINFortune Brands Innovations, Inc.
Is the business good?
The checks split: earnings fully cash-backed (2.1×), but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 11% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is FBIN?
Fortune Brands Innovations, Inc. earns 5.1% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 3.9 points below what the capital costs: growth destroys value
- Operating margin
- 6.8%
Operating margin · Building Products & Equipment median 7.8% · 12 months to Q2 2026
- Cash conversion
- 2.06×
Cash conversion · 1.12× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −1.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 16% |
| FY2021 | 17% |
| FY2022 | 16% |
| FY2023 | 13% |
| FY2024 | 16% |
| FY2025 | 12% |
Details›
- Gross margin12 months to Q2 2026
- 46%
- Operating margin12 months to Q2 2026
- 6.8%
- Net margin12 months to Q2 2026
- 3.4%
- Free cash flow margin
- 9.1%
- Revenue, trailing twelve months
- $4.39B
- Free cash flow, trailing twelve months
- $401M
- Net income, trailing twelve months
- $149M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 5.1%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from FBIN and who it buys from, as the companies report it.
- HDThe Home Depot11%
Share of revenue · FY2025 10-K
- LOWLowe's11%
Share of revenue · FY2025 10-K
- Top ten customers52%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; FBIN’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Building Products & Equipment
Ranks #12 of 19 by RyuScore