Fortune Brands Innovations, Inc.
$48.05
+0.46 (+0.97%) · delayed · Nov 13, 2026
Five-year price
52w $32.34 to $64.84
- Market cap
- $5.7B
- Enterprise value
- $8.0B
- P/E
- 19.5×
- 15.4× on 3y avg EPS
- EV / EBIT
- 15.4×
- FCF yield
- 6.4%
- ROIC
- 8.2%
- Debt / equity
- 1.07
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
83
- ○ROIC > 12% (5y avg)5y avg ROIC 11.5%
- ●ROE > 15% (5y avg)5y avg ROE 21.5%
- ●Stable operating marginsMargin volatility 2.1% (σ, 5y)
- ●Earnings convert to cashFCF / net income 106% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.3%
- ●Shrinking share countDiluted shares -13.6% over 5y
Value
40
- ○P/E below 15P/E 19.5
- ○EV/EBIT below 12EV/EBIT 15.4
- ●FCF yield above 6%FCF yield 6.4%
- ○Price below Graham NumberGraham Number $33.47
- ●P/B below 3P/B 2.4
Safety
20
- ○Debt / equity below 0.5D/E 1.07
- ○Debt payable in < 4 yrs of earningsNet debt $2.3B
- ○Interest coverage > 8xCoverage 4.5x
- ●Current ratio > 1.5Current ratio 1.84
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
43
- ●Adequate size (revenue > $2B)Revenue $4.5B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.84
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 13%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 15.4
- ○P/E × P/B ≤ 22.5Product 36.6
Valuation lab
What do you have to believe?
At $48.05, the market is pricing in about 6.8% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $2.3B · 118M shares · 5y revenue CAGR 4.3%
Intrinsic value
$35.41
Price
$48.05
Premium paid
36%
What the price implies
The market is paying for 6.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
56% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 4,985 | 5,283 | 5,485 | 5,765 | 3,621 | 4,801 | 4,723 | 4,626 | 4,609 | 4,463 |
| Gross profit | 1,805 | 1,925 | 1,959 | 2,052 | 2,164 | — | — | — | — | — |
| Operating income | 619 | 683 | 595 | 699 | 568 | 811 | 774 | 615 | 738 | 516 |
| Operating margin | 12.4% | 12.9% | 10.9% | 12.1% | 15.7% | 16.9% | 16.4% | 13.3% | 16.0% | 11.6% |
| Pre-tax income | 582 | 635 | 537 | 575 | 499 | 726 | 667 | 518 | 606 | 405 |
| Income tax | 170 | 160 | 147 | 144 | 111 | 167 | 127 | 112 | 134 | 106 |
| Net income | 413 | 473 | 390 | 432 | 553 | 772 | 687 | 405 | 472 | 299 |
| EPS (diluted) | 2.62 | 3.03 | 2.66 | 3.06 | 3.94 | 5.54 | 5.23 | 3.17 | 3.75 | 2.47 |
| Diluted shares | 158 | 156 | 146 | 141 | 140 | 140 | 131 | 128 | 126 | 121 |
Who owns it