FUL vs RPM: Which Is the Better Buy in 2026?
Last updated October 2026
Short answer
RPM is the larger of the two ($12.72B market cap): the incumbent the market prices for continued execution (15.09x forward earnings, beta 1.04). FUL is the smaller challenger ($2.76B), cheaper on forward earnings (9.91x): more room to run, but more to prove. The real question is which set of drivers you believe, and whether owning one (or both) leaves you over-concentrated.
FUL vs RPM: the tie-breaker metrics
Same yardstick, side by side (as of October 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.
| Metric | FUL | RPM | What it tells you |
|---|---|---|---|
| Market cap | $2.76B | $12.72B | Size. The larger name is the incumbent; the smaller has more room to grow and more to prove. |
| Forward P/E | 9.91 | 15.09 | Valuation on next year's expected earnings, the same yardstick for both. Lower is cheaper for that growth; higher means the market is paying up. |
| Trailing P/E | 14.30 | 18.43 | Valuation on the last 12 months. A big drop from trailing to forward means the market expects earnings to jump, so more growth is already in the price. |
| Beta | 0.99 | 1.04 | Volatility vs the market. Above 1 swings harder than the index; below 1 is steadier. Higher beta means bigger drawdowns to hold through. |
| Price vs 52-week range | 21% of range | 24% of range | Where today's price sits between the 52-week low and high. Near the high is momentum with less margin of safety; near the low is out of favor or a discount, depending on why. |
| Price / book | 1.27 | 3.66 | How much you pay over book value. Very high can signal an asset-light, high-return business or a rich price. |
Reading it: FUL is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.
Before you buy: how FUL and RPM affect your concentration
The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. FUL and RPM share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.
This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined FUL and RPM exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.
What does H.B. Fuller (FUL) do?
H.B. Fuller Company formulates and sells industrial adhesives, sealants and coatings from roughly 70 plants worldwide, with about 7,100 employees and trailing twelve-month revenue of ~$3.55 billion. The business runs in three segments. Hygiene, Health and Consumable Adhesives (~$422 million of revenue in the quarter ended May 30, 2026) glues diapers, tissue, food packaging, e-commerce cartons and medical devices. Engineering Adhesives (~$283 million) sells reactive, light-cure and two-part structural products into transportation, electronics, clean energy, aerospace, appliances and heavy machinery. Building Adhesive Solutions (~$245 million) covers commercial roofing, flooring, insulation, building envelope, caulks and sealants. The company has paid a quarterly dividend for 58 consecutive years and raised it for 33 straight.
What does RPM International (RPM) do?
RPM International Inc. is an Ohio-based maker of specialty coatings, sealants, adhesives, and building materials that runs a decentralized house-of-brands model across four segments: Construction Products Group, Performance Coatings Group, Consumer Group, and Specialty Products Group. Its portfolio spans consumer names sold through home-improvement retailers (Rust-Oleum, DAP, Zinsser) and industrial franchises used in commercial construction and maintenance (Tremco, Carboline, Euclid Chemical), giving it exposure to both do-it-yourself demand and large infrastructure and reroofing projects. Fiscal 2025 (year ended May 31, 2025) sales were roughly $7.4 billion, and fiscal 2026 (year ended May 31, 2026) sales grew to about $7.86 billion with net earnings near $661 million.
FUL vs RPM: how do they differ?
Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.
- FUL drivers: Margin expansion from pricing and Quantum Leap; Volume, which is where the story cracks.
- RPM drivers: MAP 2025 margin program; Diversified brand portfolio.
Which fits which kind of investor
A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Leverage is the first constraint: total debt of ~$2.19 billion against ~$97 million of cash already sits near 3x trailing EBITDA of ~$610 million, and the new 7.625% notes carry a coupon well above the 4.000% notes they partly replace, so interest cost rises as the AMS deal closes. For RPM, rPM's end markets are cyclical and sensitive to construction activity, housing turnover, and consumer discretionary spending, so a slowdown can pressure volumes.
FUL or RPM: which should you pick?
Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick FUL if you believe its drivers more; RPM if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the FUL and RPM guides.
FUL vs RPM: the full fundamentals
FUL. H.B. Fuller reports on a fiscal year ending in late November, so the latest print as of October 16, 2026 is the third quarter (ended August 29), released September 23 with a modest EPS beat. Fourth-quarter results are not expected until early 2027, so the next catalysts are the AMS closing and the board's answer to Ancora's raised bid. At ~10x forward earnings and ~8x EV/EBITDA, against a mean analyst target near $68, the gap between the margin story and the volume story remains wide.
RPM. RPM now trades near 18.6x trailing and 15.2x forward earnings, below the low-20s trailing multiple it carried earlier in 2026, after the shares fell about 11% over the past year even as fiscal 2026 sales reached a record of about $7.86 billion. Consensus expects about $5.91 of EPS in fiscal 2027 and about $6.61 in fiscal 2028. Sixteen analysts carry a mean target near $123.50, though several trimmed targets in October, and the next report is expected around January 7, 2027.
Headline figures (approximate, October 2026): FUL shows revenue (ttm) ~$3.55B; Q3 FY2026 revenue ~$938M, up ~5.2% year over year, q3 fy2026 (quarter ended aug 29, 2026) Adjusted EPS $1.52 vs ~$1.46 consensus; net income ~$79M, margins (ttm) Gross ~32.7%, operating ~13.2%, net ~5.6%, net income / eps (ttm) ~$198M; trailing EPS ~$3.59, forward EPS estimate ~$5.18; RPM shows revenue (ttm) ~$7.97B (Q1 FY2027 up ~4.8% YoY), q1 fy2027 adjusted eps vs estimate $1.98 vs ~$1.95, net income (ttm) ~$688M (net margin ~8.7%), gross / operating margin ~41% / ~16%.
The bottom line: FUL vs RPM
FUL and RPM are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined FUL and RPM exposure against your real portfolio. It is not an investment adviser.
Wondering how FUL or RPM fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in H.B. Fuller with AI
Connect the broker you already use and ask Walnut's AI how FUL fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is the difference between FUL and RPM?
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H.B. RPM International Inc. They show up together because they share investment themes, but they are different businesses, so the better fit depends on which thesis you are expressing.
Is FUL or RPM the better stock?
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Neither is universally better. RPM is the larger incumbent; FUL is the smaller challenger and looks cheaper on forward earnings. Walnut is informational, not investment advice. Compare what each does, the tie-breaker metrics above, and the risks, then decide which fits your thesis and what you already own.
Which is cheaper, FUL or RPM?
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On forward P/E (as of October 2026), FUL trades at 9.91x and RPM at 15.09x, so FUL is the cheaper of the two on next year's expected earnings. A lower multiple is not automatically the better buy: a richer valuation can be justified by faster growth, and a lower one can reflect real risk. Weigh the multiple against how fast each business is compounding.
Should you own both FUL and RPM?
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Because they share themes, owning both concentrates you in that theme. That can be intentional (a focused bet) or accidental (less diversification than it looks). Walnut can show your combined exposure across both, and whether adding either over-concentrates you, before you buy.
What are the risks of FUL vs RPM?
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FUL: Leverage is the first constraint: total debt of ~$2.19 billion against ~$97 million of cash already sits near 3x trailing EBITDA of ~$610 million, and the new 7.625% notes carry a coupon well above the 4.000% notes they partly replace, so interest cost rises as the AMS deal closes. Buying a medtech business is also a step outside the industrial adhesives core, so integration and synergy delivery carry real execution risk. The margin gains lean heavily on price, which historically gives back some ground when petrochemical-derived raw material costs fall, and first-quarter results already showed supply disruption and force majeure notices from suppliers. Construction end markets served by Building Adhesive Solutions are rate-sensitive and cyclical, roughly 40% of revenue sits outside the Americas and is exposed to currency swings, and tariffs remain an unpredictable input. Finally, the activist situation can resolve in more than one direction, and an unaccepted carve-out bid, even a raised one, is not a floor under the share price. RPM: RPM's end markets are cyclical and sensitive to construction activity, housing turnover, and consumer discretionary spending, so a slowdown can pressure volumes. Raw material and energy inflation is a recurring headwind, and management has flagged that input costs could accelerate into fiscal 2027. Weather affects demand for coatings and roofing, which has hurt some quarters. The company carries acquisition-related debt and goodwill, and integration missteps or impairments are possible. Broader tariff, currency, and geopolitical volatility add uncertainty to the wide guidance ranges management has issued. The share price has lagged the operating record, falling about 11% over the past year, and analysts cutting targets after a modest first-quarter beat shows how much the market is weighing slower volume growth. Debt stands near $2.7 billion against about $313 million of cash.
Walnut is informational, not investment advice. This page is descriptive and not a recommendation to buy or sell FUL or RPM; figures are approximate and dated (as of October 2026). Verify current data before investing.