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Fortune Brands Innovations

FBIN on NYSE. Fortune Brands Innovations sells faucets, doors, locks, and decking to homeowners and builders. Market value $4.6bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Recent profit includes a big one-time charge, so we price the company excluding that charge.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
8.7%high

For every $100 of what the whole company costs, it produced $8.68 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026, without the one-off
12.0×fair

You pay 12.0 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
11.1%five-year median

Each dollar kept in the business earns 11 cents a year. Above 10 is good.

Quality score: 91 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.

$38.66 a share, 20% above its 1-year low

Over the past year the price has ranged from $32.34 to $64.84.

Dividend: 2.6% a year

Paid every year for at least 5 years

Prices from Monday’s close (5 October).

Five years of cash, in billions

0.5
0.3
0.8
0.5
0.4
0.4
2021202220232024202512 monthsto Jun '26
Revenue
$4.8bn$4.7bn$4.6bn$4.6bn$4.5bn
Operating margin
16.9%16.4%13.3%16.0%11.6%
Debt to equity
1.011.571.161.311.07
Shares outstanding
0.13bn0.13bn0.12bn0.12bn0.12bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)7 of 9
  • Profit backed by cash (accruals)Yes
  • Debt1.07× equity
  • Revenue growth, five yearsSlow, 4.3% a year
  • Buying back its own sharesYes, 7% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.2 billion last quarter, about the same as a year ago.
  • A loss of $23 million, after a profit of $100 million a year ago.
  • It keeps 7 cents of each $1 of sales as operating profit, down from 14 cents a year earlier.
  • Spare cash over the past 12 months: $401 million, up from $394 million.
  • 1% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $2.3 billion more than cash, down from $2.6 billion a year ago.
  • Sales did not grow on a year ago in any of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.2bn
December 2024$1.1bn
March 2025$1.0bn
June 2025$1.2bn
September 2025$1.1bn
December 2025$1.1bn
March 2026$1.0bn
June 2026$1.2bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$137m
December 2024$105m
March 2025$51m
June 2025$100m
September 2025$71m
December 2025$76m
March 2026$24m
June 2026-$23m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
23 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

15 long-term investors we follow own it, up from 13 last quarter. 528 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • BlackRock, Inc.
    Passive investor
    9.1%
    Since 30 June 2025
  • at least 6.3%+1.2 pts
    (filed with 1 related holder)
    Since 30 June 2025
  • BlackRock Portfolio Management LLC
    Passive investor
    5.7%
    Since 31 December 2025
  • 5.3%
    Since 31 March 2026
  • Select Equity Group
    Passive investor
    at least 4.3%
    (filed with 1 related holder)
    Since 30 June 2025
  • PICTET ASSET MANAGEMENT SA
    Passive investor
    Sold down below 5%
    Since 18 August 2026
    What they said

    The Reporting Person acquired shares of Fortune Brands Innovations Inc as part of its investment strategy, which includes considering the clarity and robustness of the issuer's long-term strategy; the functioning and calibre of governance structures and effective leadership; the…

    Read the filing
  • ORBIS INVESTMENT MANAGEMENT LTD
    Passive investor
    Sold down below 5%
    Since 31 March 2026
  • The Vanguard Group
    Passive investor
    Sold down below 5%
    Since 13 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $31m of shares on the open market. 1 sold $30,678.

  • Singh Jesse G
    Chief Executive Officer, Director
    Bought
    Date
    7 August 2026
    Shares
    19,560
    Price
    $50.93
    Value
    $996,261
  • Novak Matthew Edward
    EVP, Chief Supply Chain
    Sold
    Date
    7 August 2026
    Shares
    600
    Price
    $51.13
    Value
    $30,678
  • Singh Jesse G
    Chief Executive Officer, Director
    Bought
    Date
    6 August 2026
    Shares
    19,725
    Price
    $51.66
    Value
    $1m
  • GARDEN EDWARD P
    Director
    Bought
    Date
    10 June 2026
    Shares
    320,067
    Price
    $40.60
    Value
    $13m
  • GARDEN EDWARD P
    Director
    Bought
    Date
    20 May 2026
    Shares
    57,400
    Price
    $34.89
    Value
    $2m
  • GARDEN EDWARD P
    Director
    Bought
    Date
    20 May 2026
    Shares
    5,900
    Price
    $33.28
    Value
    $196,352
  • GARDEN EDWARD P
    Director
    Bought
    Date
    19 May 2026
    Shares
    403,000
    Price
    $33.40
    Value
    $13m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 23 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 8 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.