olivLaw · US equity research
Fortune Brands Innovations, Inc. FBIN
Millwood, Veneer, Plywood, & Structural Wood Members · SIC 2430 · Vertical: Lumber and wood products (SIC 24xx)
Fortune Brands Innovations is a home, security and digital products company whose brands include Moen, Therma-Tru and Master Lock, selling mainly in North America and China. Sales have fallen as the housing market contracted, and in 2026 the company is rebuilding execution, after net sales of 4463.2 million USD and a 30.1 % drop in operating income.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Fortune Brands Innovations, Inc. (FBIN) stock was 47.47 USD (+3.44% on the day), with market capitalisation 5.6 bn USD, P/E 44.6 on diluted EPS of 1.06 USD over the last 12 months, dividend yield 2.17%, beta 1.24, 52-week range 33.39–64.44 USD. Latest reported quarter (Q3 2026): revenue of 1.1 bn USD (−3.1% YoY), net income of 49.9 m USD (−29.5% YoY), diluted EPS 0.42 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 72.4
- overbought (≥ 70)
- Bollinger (20, 2)
- 36.64 – 47.41
- above the upper band · %B 1.01 · band width 25.6%
- SMA 50 / 200
- 41.21 / 44.86
- mixed trend
- MACD (12, 26, 9)
- 1.53 / 0.84
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +22.8% | −1.1% | +23.9 pp | — |
| 3 months | −9.2% | −0.5% | −8.8 pp | — |
| 6 months | +18.9% | +4.4% | +14.5 pp | — |
| Year to date | −5.1% | +12.3% | −17.4 pp | — |
| 1 year | −4.3% | +13.5% | −17.8 pp | +12.7% |
| 3 years | −23.1% | +76.4% | −99.5 pp | −4.5% |
| 5 years | −45.7% | +63.7% | −109.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 26 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.0 bn | 1.2 bn | 1.1 bn | 1.1 bn | 1.0 bn | 1.2 bn | 1.1 bn |
| Cost of revenue | 596.3 m | 578.4 m | 660.1 m | 629.8 m | 605.3 m | 575.6 m | 563.2 m | 607.7 m |
| SG&A | 309.6 m | 314.9 m | 338.8 m | 313.2 m | 325.1 m | 352.7 m | 343.8 m | 339.5 m |
| Operating income | 178.3 m | 97.0 m | 171.6 m | 125.9 m | 121.7 m | 60.2 m | -9.0 m | 60.4 m |
| Interest expense | 27.9 m | 28.6 m | 31.2 m | 28.6 m | 26.8 m | 26.5 m | 27.4 m | 24.4 m |
| Pre-tax income | 133.3 m | 69.4 m | 147.7 m | 94.7 m | 93.2 m | 33.8 m | -37.0 m | 40.5 m |
| Income tax | 28.2 m | 18.0 m | 47.4 m | 23.9 m | 16.8 m | 9.6 m | -14.5 m | -9.4 m |
| Net income | 105.1 m | 51.4 m | 100.3 m | 70.8 m | 76.4 m | 24.2 m | -22.5 m | 49.9 m |
| Diluted EPS | 0.84 ≈ | 0.42 | 0.83 | 0.59 | 0.63 ≈ | 0.20 | -0.19 | 0.42 |
| Operating cash flow | 272.3 m | -83.4 m | 149.4 m ≈ | 204.4 m ≈ | 208.2 m | -119.2 m | 202.8 m ≈ | 347.0 m ≈ |
| Capex | 60.2 m | 29.2 m | 30.7 m ≈ | 27.4 m ≈ | 24.5 m | 20.3 m | 23.5 m ≈ | 15.9 m ≈ |
| Dividends paid | 29.6 m | 30.5 m | 30.1 m ≈ | 30.0 m ≈ | 30.0 m | 31.2 m | 31.0 m ≈ | 31.0 m ≈ |
| Share repurchases | 50.0 m | 175.0 m | 62.8 m ≈ | 0 ≈ | 10.0 m | 43.5 m | 1.7 m ≈ | 39.2 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 40-quarter history (min 8.1, median 17.8, max 37.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | ⚠ 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.5 bn | 5.8 bn | 3.6 bn | 4.8 bn | 4.7 bn | 4.6 bn | 4.6 bn | 4.5 bn |
| Revenue YoY | +3.8% | +5.1% | — | +32.6% | −1.6% | −2.0% | −0.4% | −3.2% |
| Net income | 389.6 m | 431.9 m | 553.1 m | 772.4 m | 686.7 m | 404.5 m | 471.9 m | 298.8 m |
| Net income YoY | −17.6% | +10.9% | — | +39.6% | −11.1% | −41.1% | +16.7% | −36.7% |
| Diluted EPS | 2.66 | 3.06 | 3.94 | 5.54 | 5.23 | 3.17 | 3.75 | 2.47 |
| Diluted EPS YoY | −12.2% | +15.0% | — | +40.6% | −5.6% | −39.4% | +18.3% | −34.1% |
| net % | 7.1% | 7.5% | 15.3% | 16.1% | 14.5% | 8.7% | 10.2% | 6.7% |
| Free cash flow | 453.9 m | 505.4 m | 675.2 m | 474.5 m | 320.2 m | 799.3 m | 474.5 m | 366.8 m |
The series breaks before 2020: earlier years come from the original reports of the issuer of that time, later years from a subsequent filing that restated the perimeter (a separation, discontinued operations). The year-on-year change across the break is not shown.
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 27 Dec 2025
- Cash
- 264.0 m USD
- Financial debt
- 2.5 bn USD
- Net debt
- 2.3 bn USD
- Equity
- 2.4 bn USD
- Total assets
- 6.5 bn USD
- Debt / equity
- 1.07x
- Current ratio
- 1.84x
- ROE
- 12.4%
- ROA
- 4.6%
- FCF margin
- 8.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 3.6 bn | 4.8 bn | 4.7 bn | 4.6 bn | 4.6 bn | 4.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Cost of revenue | 2.2 bn | 2.8 bn | 2.8 bn | 2.7 bn | 2.5 bn | 2.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Gross profit | 2.2 bn | 2.0 bn ≈ | 1.9 bn ≈ | 1.9 bn ≈ | 2.1 bn ≈ | 2.0 bn ≈ | SEC (XBRL)· 23 Feb 2026derived |
| SG&A | 848.6 m | 1.1 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.3 bn | SEC (XBRL)· 23 Feb 2026verified |
| Operating income | 567.7 m | 811.1 m | 774.3 m | 614.9 m | 737.9 m | 516.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Interest expense | 83.8 m | 84.3 m | 119.2 m | 116.5 m | 120.5 m | 115.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Pre-tax income | 499.2 m | 726.4 m | 667.1 m | 517.9 m | 605.5 m | 405.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Income tax | 110.8 m | 166.7 m | 127.2 m | 112.4 m | 133.6 m | 106.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Net income | 553.1 m | 772.4 m | 686.7 m | 404.5 m | 471.9 m | 298.8 m | SEC (XBRL)· 23 Feb 2026verified |
| Diluted EPS | 3.94 | 5.54 | 5.23 | 3.17 | 3.75 | 2.47 | SEC (XBRL)· 23 Feb 2026verified |
| Weighted average diluted shares | 140.2 m | 139.5 m | 131.3 m | 127.7 m | 125.7 m | 121.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividend per share | 0.98 | 1.06 | 1.07 | 0.93 | 0.97 | 1.01 | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 419.1 m | 425.6 m | 642.5 m | 366.4 m | 381.1 m | 264.0 m | SEC (XBRL)· 23 Feb 2026verified |
| Receivables | 734.9 m | 580.4 m | 521.8 m | 534.2 m | 514.4 m | 513.1 m | SEC (XBRL)· 23 Feb 2026verified |
| Inventories | 867.2 m | 889.5 m | 1.0 bn | 982.3 m | 960.3 m | 1.0 bn | SEC (XBRL)· 23 Feb 2026verified |
| Current assets | 2.2 bn | 2.7 bn | 2.5 bn | 2.0 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 23 Feb 2026verified |
| Property, plant & equipment, net | 917.4 m | 670.8 m | 783.7 m | 975.0 m | 999.2 m | 805.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Goodwill | 1.5 bn | 1.5 bn | 1.6 bn | 1.9 bn | 2.0 bn | 2.0 bn | SEC (XBRL)· 23 Feb 2026verified |
| Intangibles (excl. goodwill) | 1.4 bn | 968.1 m | 1.0 bn | 1.4 bn | 1.3 bn | 1.2 bn | SEC (XBRL)· 23 Feb 2026verified |
| Total assets | 7.4 bn | 5.4 bn | 6.1 bn | 6.6 bn | 6.6 bn | 6.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Accounts payable | 620.5 m | 561.0 m | 421.6 m | 568.1 m | 513.9 m | 524.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Short-term debt | — | 400.0 m | 599.2 m | 0 | 499.6 m | 0 | SEC (XBRL)· 23 Feb 2026verified |
| Long-term debt | 2.6 bn | 2.3 bn | 2.1 bn | 2.7 bn | 2.2 bn | 2.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Current liabilities | 1.3 bn | 2.0 bn | 1.5 bn | 1.2 bn | 1.6 bn | 1.1 bn | SEC (XBRL)· 23 Feb 2026verified |
| Total liabilities | 4.6 bn | 4.9 bn | 4.0 bn | 4.3 bn | 4.1 bn | 4.1 bn | SEC (XBRL)· 23 Feb 2026verified |
| Equity | 2.8 bn | 3.1 bn | 2.1 bn | 2.3 bn | 2.4 bn | 2.4 bn | SEC (XBRL)· 23 Feb 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 825.7 m | 688.7 m | 566.3 m | 1.1 bn | 667.8 m | 478.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Capex | 150.5 m | 214.2 m | 246.1 m | 256.5 m | 193.3 m | 111.8 m | SEC (XBRL)· 23 Feb 2026verified |
| Free cash flow | 675.2 m ≈ | 474.5 m ≈ | 320.2 m ≈ | 799.3 m ≈ | 474.5 m ≈ | 366.8 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Investing cash flow | -923.5 m | -207.1 m | -455.5 m | -1.0 bn | -302.9 m | -104.9 m | SEC (XBRL)· 23 Feb 2026verified |
| Financing cash flow | 111.6 m | -428.6 m | 72.5 m | -271.3 m | -363.4 m | -503.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividends paid | 133.3 m | 143.0 m | 145.6 m | 116.8 m | 119.6 m | 120.6 m | SEC (XBRL)· 23 Feb 2026verified |
| Share repurchases | 187.6 m | 447.7 m | 580.1 m | 150.0 m | 240.4 m | 247.8 m | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 43 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.6 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet41
- Valuation54
- Quality51
- Growth0
- Returns73
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 13.27 – 99.49 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)54.08 – 99.49 (Mid 70.96)WACC 8.3% · starting FCFF 657.7 m USD · terminal value share of EV 75%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -14.2%
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E22.28 – 30.59 (Mid 30.41)5 companies used · median multiple 28.6x · quartiles 20.9x – 28.8xCVCO, LEGH, SKY, TREX, UFPI
- Dividend discount (DDM)13.27 – 17.85 (Mid 15.22)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 43/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.0% | 23 (on a fixed band) | 13% |
| Net margin · Quality | 2.9% | 50 (vs peers) | 8% |
| FCF conversion · Quality | 433.3% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | -1.9% | 0 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -22.1% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 2.2x | 11 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.8x | 86 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 44.6x | 17 (vs peers) | 13% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 9.9% | 100 (on a fixed band) | 11% |
| Shareholder yield (distributions) · Returns | 3.9% | 55 (on a fixed band) | 8% |
| Payout ratio (FCF) · Returns | 22.2% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet41/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality51/100 · 3/3 factors with a value
- Returns73/100 · 2/2 factors with a value
- Valuation54/100 · 2/3 factors with a value
Memo
Fortune Brands Innovations, Inc. (FBIN). Latest full fiscal year: 2025; data up to 2026-09-26.
Figures computed from the financial statements: revenue 4.5 bn USD in 2025; YoY growth -3.2%; net margin 2.9%; ROE 5.5%.
The estimated value range is 22.28–30.59 USD per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 30.41 USD, the price of 47.47 USD leaves a potential of -35.9% (value / price − 1) and a margin of safety of -56.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 43/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 433.3%
- Current ratio: 1.8x
- FCF yield: 9.9%
- Payout ratio (FCF): 22.2%
What contradicts it
- ROIC: 5.0%
- Revenue CAGR 3Y: -1.9%
- EPS CAGR 3Y: -22.1%
- Interest coverage: 2.2x
- P/E (TTM): 44.6x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Lumber and wood products (SIC 24xx) · same major group (2-digit SIC) · compared with 10 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TREXTrex Company, Inc. | 5.7 bn | 33.2 | 17.3% | 13.9% | +2.0% | +63% / −19% |
| FBINFortune Brands Innovations, Inc. | 5.6 bn | 44.6 | 5.5% | 2.9% | −3.2% | −4% / −23% |
| LPXLouisiana-Pacific Corporation | 5.5 bn | 80.8 | 3.9% | 2.7% | −7.9% | −4% / +29% |
| CVCOCavco Industries, Inc. | 5.2 bn | 28.8 | 16.6% | 7.7% | +11.4% | +14% / +140% |
| SKYChampion Homes, Inc. | 5.2 bn | 28.6 | 11.8% | 6.8% | +7.3% | +12% / +60% |
| UFPIUfp Industries, Inc. | 4.7 bn | 20.9 | 7.5% | 3.6% | −5.0% | −7% / −21% |
| KOPKoppers Holdings Inc. | 811.1 m | — | -19.0% | -4.6% | −10.2% | +45% / −5% |
| LEGHLegacy Housing Corporation | 755.8 m | 11.9 | 11.4% | 30.1% | −10.7% | +59% / +42% |
| JELDJELD-WEN Holding, Inc. | 94.6 m | — | -454.4% | -5.3% | −14.9% | −59% / −93% |
| NWGLCL Workshop Group Ltd | 7.3 m | — | -64.0% | -40.5% | −15.4% | −96% / −99% |
| WFGWest Fraser Timber Co. Ltd. | — | — | -14.6% | -17.2% | −11.5% | +13% / −4% |
1- and 3-year price returns: for FBIN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 26.68 Total return -42% · Per year -42% | 47.32 Total return 2% · Per year 2% | 71.49 Total return 53% · Per year 53% |
| 3 years | 22.69 Total return -48% · Per year -19% | 45.57 Total return 2% · Per year 1% | 76.04 Total return 68% · Per year 19% |
| 5 years | 19.29 Total return -52% · Per year -14% | 43.88 Total return 3% · Per year 1% | 80.88 Total return 84% · Per year 13% |
- Exit P/E± 11.39
- Net margin± 7.97
- Annual revenue growth± 6.97
- Annual dilution± 0.67
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Fortune Brands Innovations is a home, security and digital products company whose brands include Moen, Therma-Tru and Master Lock, selling mainly in North America and China. Sales have fallen as the housing market contracted, and in 2026 the company is rebuilding execution, after net sales of 4463.2 million USD 1 and a 30.1 % drop in operating income 1.
SWOT
Strengths
Weaknesses
- Heavy reliance on repair and remodel activity in North America and China, which makes sales sensitive to the housing cycle 1.
- High concentration of customers among a few large distributors, which can negotiate tough terms 1.
- Repeated restructuring and asset impairments that reduced profitability in 2025 1.
Opportunities
Risks
- Dependence on the housing markethigh
A decline in new construction or remodeling could directly reduce sales and profit 1.
- Customer concentrationhigh
Losing or reducing orders from the largest home centers could seriously affect revenue 1.
- Tariffsmedium
If new or retaliatory tariffs raise costs and cannot be passed on through prices, margins could fall 1.
- Leadership changemedium
Changes in leadership and reorganisation could create execution difficulties and loss of key staff 12.
- Cybersecuritylow
IT outages or cyberattacks could disrupt operations and damage reputation 1.
Investment thesis
What would need to be true (bull case)
What to watch
- Trend in sales and margins in the Outdoors segmentQ3 2026
- Actual receipt of tariff refunds2026
- Appointment of a permanent CFO and other senior management2026
- 2027 guidance and demand in the U.S. repair and remodel marketnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results).
The business
The company describes itself as an industry-leading home, security and digital products company whose purpose is to transform spaces into havens 1. Products are sold through varied channels, from kitchen and bath dealers and distributors to builders, home centers, showrooms and e-commerce 1. It runs a unified operating model called the Fortune Brands Advantage, covering category management, business simplification, global supply chain and digital transformation 1. The spin-off of MasterBrand led to a shift toward a business unit-led structure 1.
Cash is directed to organic growth, acquisitions and joint ventures, as well as dividends and share repurchases 1. The company had about 10000 employees worldwide at the end of 2025, roughly 59 % in hourly production and distribution roles 1. Customers are concentrated: Lowe's and The Home Depot each accounted for 11 % of 2025 sales 1. In 2026 the company went through a CEO change and leadership restructuring, as noted in its quarterly filing 23.
Strategy emphasises leading brands, product innovation and digitalisation, with growing interest in connected water, outdoor and security products 1. The company says it allocates capital to high-return projects while keeping its financial structure strong 12.
Segments
Outdoors
The Outdoors segment includes Therma-Tru entry doors, Larson doors, Fiberon composite decking and Fypon millwork, with 2025 net sales of 1323.0 million USD 1. It faced the sharpest margin pressure, with a negative operating margin in the second quarter of 2026 including an asset impairment 3.
Market context
The core market is home products in North America and China, and most demand comes from repair and remodel rather than new construction 12. In 2025 new housing construction fell by an estimated 6 % and repair and remodeling by about 1 % 1. For 2026 the company expects the global and U.S. repair and remodel markets to decline by low single digits, and U.S. single-family new construction by mid single digits 3.
Competition is intense and price remains a key factor, especially as low-cost imports spread through e-commerce channels 1. Market growth could depend on consumer confidence, mortgage rates and credit availability 1.
Trends
- Housing market contractionheadwind
Lower new construction and remodeling activity directly weighs on demand, and the company says high interest rates have slowed sales of existing homes 1. If mortgage rates ease, demand could gradually recover.
- Tariffs and refundsmixed
U.S. tariffs raised material costs, but the company expects net tariff refunds to add 81 million USD to 2026 operating income, if they are confirmed 13. The final effect depends on trade policy decisions.
- Digitalisation and connected productstailwind
The company is investing in connected products, e-commerce and artificial intelligence for pricing and forecasting, which could shorten time to market 1.
- Raw material and energy costsheadwind
Rising prices of wood, zinc, brass and steel, and volatile freight costs, could reduce margins if they are not offset through pricing 1.
Competitive position
In Water the main rivals include Masco, Kohler, LIXIL and Asian manufacturers, while Outdoors faces Masonite, JELD-WEN, Andersen, Trex and James Hardie 1. In Security the competitors include Abus, Kwikset and Schlage 1.
The company says it keeps an edge through strong brands and innovation, but rivals that use artificial intelligence more effectively could narrow that gap 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Strong Free Cash Flow and Margin Expansion Make Fortune Brands Innovations (FBIN) AttractiveYahoo Finance — News · 09 Sept 2026 · EN
- Fortune Brands and 4 More Stocks See Action From Activist InvestorsYahoo Finance — News · 28 Aug 2026 · EN
- Board Restructuring Drives Value Creation at Fortune Brands (FBIN)Yahoo Finance — News · 27 Aug 2026 · EN
- Here Are Tuesday’s Top Wall Street Analyst Research Calls: Advanced Micro Devices, Dynatrace, Five Below, Fortune Brands, Klarna Group, Jersey Mike’s Subs, Moderna, Sherwin-Williams, and MoreYahoo Finance — News · 25 Aug 2026 · EN
- Here Are Monday’s Top Wall Street Analyst Research Calls: AstraZeneca, Celestica, Chipotle Mexican Grill, Domino’s Pizza, Fortune Brands, Golar LNG, Jersey Mike’s Subs, Roku, and MoreYahoo Finance — News · 24 Aug 2026 · EN
The latest news item in our archive is from 09 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report04 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Current report27 Oct 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Oct 2026Material impairment · Regulation FD disclosure · Financial statements and exhibits
- Current report09 Sept 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report30 Jul 2026Departure or appointment of officers · Financial statements and exhibits
- Current report (amendment)29 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report29 Jun 2026Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-27 · SEC / Fortune Brands Innovations, Inc. · 23 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-27 · SEC / Fortune Brands Innovations, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Fortune Brands Innovations, Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.