Does Fortune Brands Innovations, Inc. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores Fortune Brands Innovations, Inc. (FBIN) 40.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 48, returns on capital 54, balance-sheet safety 6, capital discipline 44.

Is FBIN stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $25.81 per share versus a recent price of $51.45 — 99% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has FBIN's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 40.5 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Fortune Brands Innovations, Inc.

FBIN · Materials · $6.2B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power48

Median gross margin 38.7% over 10y, variable.

Returns on capital54

Median ROIC 11.0%, above the 9% hurdle in 80% of years.

Balance-sheet safety6

Net debt/EBITDA 4.4x, interest coverage 4x.

Capital discipline44

Owner earnings -3.8%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

99% above value

Owner earnings (normalized): $278.6M
Est. intrinsic value / share: $25.81
Recent price: $51.45
Discount to value: 99% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

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 FY2025, with a median of 10.3% across 15 filed years. The Returns on Capital filter above scores it 54/100.

The balance sheet carried $2.5B of total debt in FY2025 against $187.0M of owner earnings — roughly 13.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 6/100.

The share count fell 22.6% between FY2011 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 44/100.

Put together: Returns on Capital is the strongest of the four filters (54/100) and Balance-Sheet Safety the weakest (6/100), which is how FBIN lands at 41/100 — a Shallow 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.

RevenueSales, as filed$4.5B FY2025

Gross marginRevenue kept after cost of goods44.6% FY2025

Return on invested capitalOperating profit on the capital employed8.2% FY2025

Owner earningsCash an owner could take out$187.0M FY2025

Gaps in a line mean that item isn’t in FBIN’s 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.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale40.5 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — FBIN has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Materials context

#101 of 214 scored Materials companies, ranked by Moat Score.

Nearest peers by Moat Score

#99VIRC VIRCO MFG. CORPORATION40.7 out of 100, Shallow moatShallow moat
#100AXTA AXALTA COATING SYSTEMS LTD.40.7 out of 100, Shallow moatShallow moat
#102FLXS FLEXSTEEL INDUSTRIES, INC.40.4 out of 100, Shallow moatShallow moat
#103JHX JAMES HARDIE INDUSTRIES PLC40.2 out of 100, Shallow moatShallow moat

Compare FBIN with its nearest peers →All Materials companies on the Index →

Common questions about FBIN

Does Fortune Brands Innovations, Inc. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores Fortune Brands Innovations, Inc. (FBIN) 40.5 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 48, returns on capital 54, balance-sheet safety 6, capital discipline 44.
Is FBIN stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 0% assumed growth, capped at 4%), estimated intrinsic value is $25.81 per share versus a recent price of $51.45 — 99% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has FBIN's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 40.5 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell FBIN. See the disclaimer.