HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. It operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers panel-based and freestanding office furniture systems, seating, storage, benching, tables, architectural products, storage, and ancillary and hospitality products, as well as social collaborative items. This segment sells its products through independent dealers, wholesalers, office product distributors, e-commerce focused resellers, and wholesalers, as well as directly to end-user customers and governments. The Residential Building Products segment provides various gas, wood, electric, and pellet-fueled prefabricated fireplaces; and inserts, hearth stoves, facings, outdoor fire pits and fire tables, and accessories. This segment sells its products primarily for home use. It serves its products under the Allsteel, AMQ, Beyond, Coalesse, D'style, David Edward, Designtex, Gunlocke, HALCON, HBF, HBF Textiles, HON, Interwoven, Kimball, Kimball Hospitality, National, Orangebox, Smith System, Steelcase, Viccarbe brand names through independent dealers and distributors, and corporation-owned distribution and retail outlets. The company was incorporated in 1944 and is headquartered in Muscatine, Iowa.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.8B | $234M | $54M | $209M | 3.0% | 12.4% | -61.1% |
| 2024 | $2.5B | $314M | $140M | $174M | 16.6% | 3.8% | 183.5% |
| 2023 | $2.4B | $185M | $49M | $188M | 6.5% | 3.1% | -60.3% |
| 2022 | $2.4B | $239M | $124M | $13M | 20.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,361.80 | 2,434 | 2,526.40 | 2,839 |
| Cost Of Revenue | - | 1,526.90 | 1,485.70 | 1,493 | 1,662.90 |
| Gross Profit | - | 834.90 | 948.30 | 1,033.40 | 1,176.10 |
| Operating Expense | - | 723.40 | 772 | 820.70 | 937 |
| Operating Income | - | 111.50 | 176.30 | 212.70 | 239.10 |
| EBITDA | - | 239.40 | 185.20 | 314.30 | 233.50 |
| EBIT | - | 155.20 | 90.30 | 206.50 | 126.40 |
| Pretax Income | - | 146.40 | 64.80 | 179.30 | 90.80 |
| Tax Provision | - | 22.50 | 15.60 | 39.80 | 36.50 |
| Net Income | - | 123.90 | 49.20 | 139.50 | 54.20 |
| Net Income Common Stockholders | - | 123.90 | 49.20 | 139.50 | 54.20 |
| Total Expenses | - | 2,250.30 | 2,257.70 | 2,313.70 | 2,599.90 |
| Interest Expense | - | 8.80 | 25.50 | 27.20 | 35.60 |
| Selling General And Administration | - | 723.40 | 772 | 820.70 | 937 |
| Normalized EBITDA | - | 195.70 | 271.20 | 320.50 | 346.60 |
| Normalized Income | - | 86.93 | 114.47 | 144.32 | 122.06 |
| Market Cap | 2,714.13 | 2,714.13 | 2,714.13 | 2,714.13 | 2,714.13 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| HNI Corporationthis co. | HNI | $1.8B | 50.08β premium | 1.48 | 3.0% | 17.55 |
| PHINIA Inc. | PHIN | $2.9B | 21.49 | 1.76 | 8.2% | 7.92 |
| The Buckle, Inc. | BKE | $2.8B | 13.79 | 6.81 | 49.4% | 10.55 |
| Steven Madden, Ltd. | SHOO | $2.7B | 63.10 | 3.25 | 5.2% | 25.85 |
| OneSpaWorld Holdings Limited | OSW | $2.5B | 34.20 |
| - |
| - |
| - |
| - |
| 4.51 |
| 13.2% |
| 23.59 |
| Versigent PLC | VGNT | $2.5B | 5.04 | 1.50 | 29.8% | 2.76 |
| Sonic Automotive, Inc. | SAH | $2.4B | 20.32 | 2.26 | 11.1% | 12.63 |
| Mister Car Wash, Inc. | MCW | $2.3B | 22.53 | 2.05 | 9.1% | 14.11 |
| CarGurus, Inc. | CARG | $1.6B | 21.76 | 9.07 | 41.7% | 12.42 |
| Peer Median | - | 21.63 | 2.76 | 12.2% | 12.52 | |