2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $7.7B to $4.5B, decreasing; diluted EPS 5.54 to 2.47, decreasing.
48
Median gross margin 38.7% over 10y, variable.
36
Median ROIC 11.0%, above the 12% hurdle in 30% of years.
17
Net debt/EBITDA 3.2x, interest coverage 4x.
54
Owner earnings changed -0.9%/yr over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
Above value if growth stopped todayBelow value if growth stopped today
17% above value if growth stopped today
$472M
$43.74
$43.74
$51.27
17% above value if growth stopped today
What today’s price assumes: owner earnings growing ~3%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).
How to read this
We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. FBIN revenue fell in each of the three most recent year-over-year FY comparisons, so this estimate is flagged as unreliable for this company.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
18 years of fundamentals
The business, in plain English
Fortune Brands Innovations, Inc. booked $4.5B of revenue in FY2025 in the Materials sector and kept 44.6% of it as gross profit — a solid-margin business by that measure. After every other cost, 6.7% of each revenue dollar reached the bottom line.
Across the filed record, revenue grew from $3.0B (FY2009) to $4.5B (FY2025) — about 2.5% a year compounded over 16 years.
It earned 8.2% on invested capital in the latest filed year, FY2025. Across the full 15-year measurable filed record, median ROIC was 10.3%. Over the v3 recent window (10 measurable filed years), median ROIC was 11.0%. The Returns on Capital filter above scores it 36/100.
The balance sheet carried $2.5B of total debt in FY2025 against $381M of owner earnings — roughly 6.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 17/100.
Put together: Capital Allocation is the strongest of the five filters (54/100) and Balance-Sheet Safety the weakest (17/100), which is how FBIN lands at 35/100 — a None moat.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
FY2008–FY2025 · 18 fiscal years, normalized from FBIN’s SEC filings
Sales, as filed$4.5B FY2025Revenue kept after cost of goods44.6% FY2025Standard ROIC or separately labeled Operating ROICROIC 8.2% FY2025
Not meaningful FY2010: invested capital is negative (cash exceeds debt + equity)
Cash an owner could take out$381M FY2025
The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Flagship explainer
How Fortune Brands Innovations, Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
What Fortune Brands Innovations, Inc. insiders reported
Insider activity is unavailable from the source; no zero-activity claim is shown.
Unavailable: Form 4 activity could not be retrieved for this rendering.
Moat Score history
16 logged readings since Jul 17, 2026 · append-only, never rewritten
Moat Score over timeLast scored reading of each day, on the 0–100 scale35.1 / 100
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for FBIN.
Materials context
#188 of 309 scored Materials companies, ranked by Moat Score.
Does Fortune Brands Innovations, Inc. have an economic moat?
Based on its FY2025 SEC filings, the Moat Index scores Fortune Brands Innovations, Inc. (FBIN) 35.1 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 20, pricing power 48, returns on capital 36, balance-sheet safety 17, capital allocation 54.
Is FBIN trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — is $43.74 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $51.27, that is 17% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has FBIN's Moat Score changed over time?
The record logs 16 readings since Jul 17, 2026; the latest reads 35.1 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.
Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FBIN. See the disclaimer.