At a glance
Fortune Brands Innovations Inc. is worth $5.03B, about 17 times its fiscal 2025 earnings. Revenue fell 3.2% to $4.46B in fiscal 2025, with 6.7% kept as profit; over 5 years it has grown 4.3% a year. It pays a 2.44% dividend yield, and returned $2.31B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −15.9% over the past year with dividends reinvested, against +11.5% for the S&P 500.
The business in plain English
Fortune Brands Innovations sells products for the home: faucets, sinks, entry doors, decking and security products. Its brands include Moen, ROHL and Riobel in plumbing, Therma-Tru and Larson in doors, and Fiberon in composite decking. Demand comes from home repair, remodeling and new home construction, mainly in North America and China. It sells through kitchen and bath dealers, wholesalers serving builders and remodelers, locksmith distributors, home centers, showrooms, e-commerce and direct to consumers.
Water is the largest segment, with 54.8% of the $4.46 billion in revenue for the fiscal year ended December 27, 2025. It sells faucets, accessories, luxury hardware, kitchen sinks and waste disposals, and is investing in smart home products. Outdoors, at 29.6%, covers fiberglass and steel entry doors, storm and screen doors, composite decking and railing, decorative urethane trim and wide-opening door systems. Security made up the other 15.5%.
The business leans heavily on the U.S., which supplied 83.8% of fiscal 2025 revenue. Canada added 7.7% and China 3.3%. Sales are concentrated among a few customers: Lowe's and The Home Depot each accounted for 11% of net sales, U.S. home centers together about 26%, and the top ten customers about 52%. The company was formerly named Fortune Brands Home & Security and spun off its cabinets business as MasterBrand, Inc.
Price history
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FBIN -15.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Water Segment | $2.45B | 54.8% |
| Outdoors Segment | $1.32B | 29.6% |
| Security Segment | $692.6M | 15.5% |
By geography
| US | $3.74B | 83.8% |
| CA | $344.1M | 7.7% |
| All Other Countries | $229.8M | 5.1% |
| CN | $147.2M | 3.3% |
Latest results
- In Q2 FY2026 (ended Jun 27, 2026), revenue was $1.15B, down 4.1% from a year earlier, and net income was $-22.5M (-122.4%).
- For fiscal 2025, revenue was $4.46B (-3.2% year over year; +4.3% a year from FY2020 to FY2025) with a 6.7% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.3% watch |
|---|---|
| Operating margin | 11.6% watch |
| Free cash flow margin | 8.2% watch |
| Return on equity (FY2025) | 12.5% watch |
| Return on assets (FY2025) | 4.6% watch |
| Net cash (cash minus debt) | $-1.99B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $3.62B | $553.1M | $675.2M |
| FY2021 | $4.80B | $772.4M | $474.5M |
| FY2022 | $4.72B | $686.7M | $320.2M |
| FY2023 | $4.63B | $404.5M | $799.3M |
| FY2024 | $4.61B | $471.9M | $474.5M |
| FY2025 | $4.46B | $298.8M | $366.8M |
Valuation snapshot
| Market value | $5.03B |
|---|---|
| P/E ratio | 17.1 |
| Dividend yield | 2.44% |
Rank among 1514 US companies
Market value at each year end
Fortune Brands Innovations’s market value went from $7.32B at the end of 2022 to $5.03B on Oct 28, 2026, down 31%; since the end of 2025 it is down 16%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.03B | -16.3% |
| 2025 | $6.01B | -29.2% |
| 2024 | $8.49B | -11.6% |
| 2023 | $9.60B | +31.1% |
| 2022 | $7.32B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| FBIN price data to Oct 28, 2026 | -14.3% | -15.9% | -7.0% | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -14.3% |
| 2025 | -25.5% |
| 2024 | -9.1% |
| 2023 | +35.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 7 open-market purchases ($30.7M) and 1 sales ($31K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 19, 2026 | Edward P Garden Director | buy | $13.5M |
| Jun 10, 2026 | Edward P Garden Director | buy | $13.0M |
| May 20, 2026 | Edward P Garden Director | buy | $2.0M |
| Aug 7, 2026 | Jesse G Singh Chief Executive Officer, Director | buy | $996K |
| Aug 6, 2026 | Jesse G Singh Chief Executive Officer, Director | buy | $743K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 9.1% | Jun 30, 2025 |
| HARRIS ASSOCIATES L P | 6.3% | Jun 30, 2025 |
| BlackRock Portfolio Management LLC | 5.7% | Dec 31, 2025 |
| Vanguard Capital Management | 5.26% | Mar 31, 2026 |
| Select Equity Group, L.P. | 4.3% | Jun 30, 2025 |
| ORBIS INVESTMENT MANAGEMENT LTD | 0.6% | Mar 31, 2026 |
ETFs with the most weight in FBIN
| GUNZ Tuttle Capital Self Defense Index ETF | 4.35% |
| FIW First Trust Water ETF | 2.69% |
| TBLU Tortoise Global Water ESG Fund | 2.12% |
| HOMZ Hoya Capital Housing ETF | 0.62% |
| DSTL Distillate US Fundamental Stability & Value ETF | 0.55% |
| MCDS JPMorgan Fundamental Data Science Mid Core ETF | 0.54% |
| SMOT VanEck Morningstar SMID Moat ETF | 0.53% |
| MIDE Xtrackers S&P MidCap 400 Scored & Screened ETF | 0.39% |
What could go wrong
- Big retail customers and low-price rivals. Lowe's and The Home Depot each made up 11% of 2025 net sales, and the top ten customers about 52%. Retailers' store brands and cheap imports sold online compete hard on price.
- Housing and remodeling slowdowns. Sales depend on home repair, remodeling and new construction, mainly in North America and China. High rates or weak confidence can delay kitchen and bath projects. U.S. building and remodeling both shrank in 2025.
- Leadership overhaul may not deliver. A 2025 CEO transition, reorganization and headquarters move brought restructuring charges. The 10-K warns they may not work and could cost key staff. More leadership changes were disclosed from March to October 2026.
- Impairment charges on past acquisitions. The company carries goodwill, the premium paid for past acquisitions, and other acquired intangibles. If those businesses underperform, it must write them down. It disclosed an asset impairment in an October 15, 2026 filing.
- Tariffs and trade disputes. The company makes, sources and sells products across borders. U.S. tariffs on China, Canada, Mexico and other countries, and any retaliation, can raise costs or disrupt supply.
- Raw material and energy price swings. Commodity and energy prices can jump, and suppliers may fail to deliver materials or finished goods on time. If sustained inflation lifts costs faster than the company can raise prices, profits shrink.
Recent events
- Executive or board change; Investor presentation or announcement
- Asset impairment; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change
- Executive or board change; Investor presentation or announcement
- Bylaws or fiscal year changed; Shareholder vote results
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Major agreement signed; Executive or board change; Investor presentation or announcement
For income and retirement investors
Fortune Brands pays a dividend, yielding 2.44% as of October 28, 2026. Dividends per share were $1.01 in fiscal 2025, barely above $0.98 in fiscal 2020, or about 0.6% growth a year. The dividend dipped to $0.93 in fiscal 2023, so the run of increases stood at two years through fiscal 2025. It used 40.4% of fiscal 2025 earnings and 32.9% of free cash flow (cash from operations minus capital spending). Buybacks took more cash: about $1.67 billion from fiscal 2021 to 2025, versus $646 million in dividends. The share count fell 12.1% between October 2021 and July 2026.
The share price record here spans about 3.9 years, so it does not cover the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. In the three years to October 28, 2026, the worst peak-to-trough fall was 61.9%, and the stock lost 25.5% in calendar 2025. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Fortune Brands Innovations make money?
Fortune Brands sells faucets, sinks, doors, decking and security products for homes. In the fiscal year ended December 27, 2025, its Water segment (Moen, ROHL, Riobel and other brands) brought in about $2.45 billion, or 54.8% of $4.46 billion in revenue. Outdoors (Therma-Tru doors, Larson storm doors, Fiberon decking) made up 29.6%, and Security 15.5%. About 83.8% of sales were in the US. Lowe's and The Home Depot each took 11% of net sales. The top ten customers made up about 52%.
Does Fortune Brands raise its dividend every year?
No. Regular dividends per share rose from $0.98 in fiscal 2020 to $1.07 in fiscal 2022. They fell to $0.93 in fiscal 2023, then rose to $0.97 in 2024 and $1.01 in 2025. That makes a two-year streak of increases, and growth of only about 0.6% a year over five years. In fiscal 2025 the dividend used 40.4% of earnings and 32.9% of free cash flow (the cash left after capital spending). The yield was 2.44% as of October 28, 2026.
Why has Fortune Brands stock fallen?
The shares fell as results weakened and the housing market softened. The stock lost 25.5% in 2025 and 14.3% year to date as of October 28, 2026. In fiscal 2025, revenue dropped 3.2% and net income fell 36.7%. Over the same period, US new home construction and remodeling activity shrank from 2024 levels. In the quarter ended June 27, 2026, revenue fell 4.1% and the company posted a $22.5 million net loss. A filing on October 15, 2026 reported an asset impairment (a write-down of asset values).
How much debt does Fortune Brands have?
Fortune Brands had about $2.2 billion of debt as of June 27, 2026, against $209.7 million in cash and investments. That leaves net debt (borrowings minus cash) of roughly $1.99 billion. For comparison, shareholder equity was $2.31 billion and total assets were $6.34 billion. Free cash flow (cash from operations after capital spending) was $366.8 million in fiscal 2025. Debt weighs more heavily when profits shrink, and net income fell 36.7% that year.
Are Fortune Brands insiders purchasing shares?
Yes. There were 43 insider filings between October 29, 2025 and October 29, 2026. The 25 reviewed showed seven purchases and one small sale, and the sale was not made under a prearranged trading plan. Director Edward P. Garden made the largest purchases, each worth millions of dollars, in May and June 2026. Chief Executive Officer Jesse G. Singh added shares in August 2026. Insider purchases signal confidence but guarantee nothing. The stock fell 17.1% in the three months to October 28, 2026.