Diversified consumer products company Fortune Brands (NYSE:FO) lived up to its name this quarter -- it made a fortune. Net income jumped 40% on a 23% gain in sales, while free cash flow (operating income less capital expenditures) clocked in at $34.1 million, 60% higher than last year.

Investors are taking notice. All told, the stock is up 60% over the last 52 weeks and 4% today to an all-time high.

Impressively, growth was reported across a diversified stable of products. Home and hardware, where brands like Moen and Master Lock reign, led the way with a 32% jump in sales. Titleist and Cobra helped golf products to a 20% increase. For perspective on the latter, see Bill Mann's look at rival Callaway Golf (NYSE:ELY).

Sales of office products, meanwhile, were up just 8%; however, operating income for the division doubled. More importantly, the high-margin spirits and wine segment, home of Jim Beam, delivered double-digit sales and earnings growth. All in all it was a performance worthy of a fine meal and a glass of Fortune's Wild Horse wine (I don't make this stuff up).

Paired with this growth, investors get a solid 24% return on equity and an equally impressive 16% return on invested capital. Did I mention a 1.6% yield?

Fortune Brands' forecast for double-digit earnings growth puts the stock at around 18 times forward earnings. For such an odd bird, it's tough to say how that stacks up. Spirits companies Diageo (NYSE:DEO) and Allied Domecq (NYSE:AED) enjoy higher margins and sport lower P/Es, but carry high debt loads. Building supplies rival Masco (NYSE:MAS) sells for a comparable P/E but has weaker margins.

It would have been nice to have bought this a year ago. Still, for those looking for holding company diversity, strong brands, and a reasonable stock price, Fortune Brands is worth a look -- even after the impressive run-up.

Come to think of it, Fortune's the kind of stock Mathew Emmert looks for in the Motley Fool Income Investor . Click for a free trial .

Fool contributor W.D. Crotty does not own stock in any of the companies mentioned.