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HNI Corporation

HNI Consumer Cyclical Furnishings Fixtures & Appliances

HNI Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 12.4% from fiscal 2024.

Revenue
+133.0%
EPS
+38.3%
Free cash flow
+25.2%
Total debt
+310.9%

Quarter to September 2026, against a year earlier

46.97 1.34 −2.77%
Market cap
$3.5B
P/E
106×
Fwd P/E
19.2×
Dividend yield
2.87%
F-score
5/9
Altman Z
1.30
Beneish M
−1.53
Dividend safety
45/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 4.75
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 1 — — — — — 4 — — —
Insider Ownership 1.96%

Capital & Financial Ratios $m

Size
Market Cap 3,490.00
Revenue ttm 5,301.10
Net income ttm 53.10
Free cash flow ttm 148.50
Net debt Q 1,264.20
Valuation
P/E 105.61 (above 35: high)
Forward P/E 19.20
Price / sales 0.66
Forward P/S Powerpack
Price / FCF 23.38
Price / book 1.85
Financial health
Current ratio Q 1.33
Debt / equity Q 0.73
Interest coverage Q 7.05
Growth
Revenue growth Q +132.95% (above 0%: growing)
Operating income growth Q +111.61% (above 0%: growing)
EPS, this year +24.05% (at or above 15%: strong)
EPS, next year A +8.53%
Revenue, next year A +110.78% (at or above 10%: strong)
EPS, past 5 yrs +2.52%
EPS, next 5 yrs A +15.87% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 0.9×; over the ten years it ranged from 0.5× in 2022 to 1.2× in 2016.
P/E against its own 10 years 97.47%
10-year low 10-year high
P/S against its own 10 years 21.97%
10-year low 10-year high
P/B against its own 10 years 11.22%
10-year low 10-year high
EV/Sales against its own 10 years 54.75%
10-year low 10-year high
EV/FCF against its own 10 years 76.75%
10-year low 10-year high

Dividends raised every year since 2017

Yield
2.87%
Annual rate
1.38
Payout ratio
305.7%
Growth, 2017–25
+2.25%/yr
  1. 1.13 ’17
  2. 1.17 ’18 +4
  3. 1.21 ’19 +3
  4. 1.22 ’20 +1
  5. 1.24 ’21 +1
  6. 1.27 ’22 +3
  7. 1.28 ’23 +1
  8. 1.31 ’24 +2
  9. 1.35 ’25 +3
  10. 1.36 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 35 27 216 114
Receivables 244 246 570 702
Inventory 197 194 475 508
Other — — — —
536 522 1,412 1,493
2023 2024 2025 Q'26
Payables 419 391 1,016 1,008
ST’ Debt 15 53 54 37
Other — — — —
464 478 1,139 1,122

Compound Annual Growth %

10y 5y 3y
Sales 2.11% 7.74% 6.33%
Cash Flow 4.77% 5.19% 50.41%
Earnings (6.44%) 5.28% (24.09%)
Book Value 14.42% 25.45% 43.84%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.40 Actual 1.62

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.91 0.83 Miss by 0.08
Q1 FY26 0.31 0.34 Beat by 0.03
Q2 FY26 1.04 1.27 Beat by 0.23
Q3 FY26 1.40 1.62 Beat by 0.22
Q4 FY26 1.17 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.55) 0.70 1.24 — —
’25 0.29 1.02 0.88 (0.94) 1.11
’24 0.37 0.75 0.98 0.79 2.88
’23 0.04 (0.30) 0.80 0.48 1.09
’22 0.33 0.72 1.51 0.39 2.94
’21 0.34 0.39 0.43 0.19 1.36
’20 (0.56) 0.29 0.71 0.52 0.98
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,348 1,472 1,593 — —
’25 600 667 684 888 2,839
’24 588 624 672 643 2,526
’23 479 564 712 680 2,434
’22 572 622 599 569 2,362
’21 484 511 587 603 2,184
’20 469 417 507 562 1,955
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (172) 140 195 — —
’25 13 31 155 77 276
’24 (4) 51 129 51 227
’23 17 23 123 105 268
’22 (39) 14 59 47 81
’21 2 36 51 43 132
’20 (33) 61 116 71 215
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (206) 128 170 — —
’25 0 16 136 57 209
’24 (15) 34 114 41 174
’23 (3) 2 101 89 188
’22 (57) (1) 44 28 13
’21 (17) 22 36 24 65
’20 (46) 54 104 61 173
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,203 2,176 2,258 2,247 1,955 2,184 2,362 2,434 2,526 2,839 5,301 +2.9% 5,984 6,196 6,570 +32.3%
Gross margin, % 37.90 36.03 36.98 37.11 36.88 34.67 35.35 38.96 40.90 41.43 41.29 +3.5 pt
EBT 129 71 119 143 54 78 146 65 179 91 89 (3.8%)
EBT margin, % 5.85 3.25 5.26 6.35 2.78 3.58 6.20 2.66 7.10 3.20 1.69 (2.7) pt
Net income 86 90 93 111 42 60 124 49 140 54 53 (5.0%)
Per share, $
Per share, $ Revenue 49.61 49.63 51.74 52.13 45.79 50.33 56.64 54.70 53.30 59.27 73.32 +2.0%
Earnings 1.93 2.05 2.14 2.56 0.98 1.38 2.97 1.11 2.95 1.13 0.45 (5.8%)
Cash flow 5.03 3.04 4.27 5.09 5.02 3.03 1.95 6.01 4.78 5.77 3.33 +1.5%
Capex (2.67) (2.70) (0.91) (1.55) (0.98) (1.53) (1.64) (1.78) (1.12) (1.42) (1.28) (6.8%)
Free cash flow 2.36 0.34 3.36 3.54 4.04 1.50 0.31 4.23 3.67 4.35 2.05 +7.0%
Book value 11.28 11.74 12.91 13.56 13.83 13.59 14.79 17.12 17.73 38.32 25.94 +14.6%
Shares, m 44 44 44 43 43 43 42 45 47 48 66 +0.8%
Valuation, ×
Valuation, × P/E 28.50 19.07 16.56 14.58 35.16 30.47 9.71 39.94 17.07 32.34 105.61 24.3
P/S 1.11 0.79 0.68 0.72 0.75 0.84 0.51 0.76 0.95 0.71 0.66 0.8
P/B 4.88 3.33 2.75 2.76 2.49 3.09 1.96 2.43 2.84 1.10 1.85 2.8
EV/Sales 1.19 0.90 0.76 0.77 0.79 0.90 0.59 0.93 1.08 1.10 0.89 0.9
EV/FCF 25.02 133.26 11.76 11.41 8.90 30.16 108.38 12.02 15.63 15.04 31.90 37.2
Cash, $m
Cash, $m Operating cash flow 223 133 186 219 215 132 81 268 227 276 241 +2.4%
Capex (119) (118) (40) (67) (42) (67) (68) (79) (53) (68) (92) (6.0%)
Free cash flow 105 15 147 152 173 65 13 188 174 209 149 +7.9%
Balance, $m
Balance, $m Working capital (30) (1) 98 50 57 17 74 72 45 273 370 n/m
Net debt 180 254 177 126 65 135 181 417 329 1,123 1,264 +22.6%
Shareholders’ equity 501 515 563 584 591 590 617 762 840 1,836 1,876 +15.5%
Returns, %
Returns, % ROA 6.60 6.60 6.69 7.74 2.92 4.10 8.51 2.94 7.33 1.60 1.56 (5.0) pt
ROIC 12.27 6.23 10.83 13.32 5.86 7.37 12.17 4.79 11.03 2.66 3.21 (9.6) pt
ROE 17.49 17.68 17.33 19.26 7.13 10.13 20.54 7.14 17.41 4.05 3.92 (13.4) pt
People
People Employees 9,400 9,600 8,900 8,500 7,700 8,100 7,300 8,200 7,700 19,500 — +8.4%
Revenue/emp, $m 0.23 0.23 0.25 0.26 0.25 0.27 0.32 0.30 0.33 0.15 — (5.2%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

HNI Corporation vs peers in Furnishings Fixtures & Appliances (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SGI Somnigroup International Inc. $15.6B 26.6× 21.5× −3.05% (below 0%: shrinking) +12.77% (above 0%: growing) +21.55% (above 0%: growing) 44.81% 11.06% Compare
MHK Mohawk Industries, Inc. $8.8B 17.6× 15.0× +1.02% (above 0%: growing) +56.00% (above 0%: growing) +25.78% (above 0%: growing) 25.47% 6.74% Compare
ALH Alliance Laundry Holdings Inc. $4.5B 24.0× 19.1× +6.61% (above 0%: growing) +92.52% (above 0%: growing) +2,126.43% (above 0%: growing) 39.83% 22.16% Compare
HNI HNI Corporation $3.5B 106× 19.2× +132.95% (above 0%: growing) +38.31% (above 0%: growing) +25.24% (above 0%: growing) 42.60% 8.58%
TILE Interface, Inc. $2.2B 15.1× 15.3× +5.37% (above 0%: growing) +58.93% (above 0%: growing) +14.82% (above 0%: growing) 45.00% 18.93% Compare
WHR Whirlpool Corporation $2.1B — (loss-making) — (loss-making) −8.83% (below 0%: shrinking) n/m +267.31% (above 0%: growing) 12.86% 0.11% Compare
MLKN MillerKnoll, Inc. $1.5B 15.5× 12.8× −3.38% (below 0%: shrinking) +31.03% (above 0%: growing) +177.93% (above 0%: growing) 41.73% 5.61% Compare
MBC MasterBrand, Inc. $1.4B — (loss-making) — +11.53% (above 0%: growing) n/m +83.07% (above 0%: growing) 25.21% (3.41%) Compare
LZB La-Z-Boy Incorporated $1.3B 16.4× 15.2× −3.36% (below 0%: shrinking) n/m −100.71% (below 0%: shrinking) 43.87% (0.44%) Compare
Median of peers $2.1B 17.0× 15.3× −1.01% +56.00% +54.43% 40.78% 6.18%

All 30 Furnishings Fixtures & Appliances stocks →

Pay and ownership Proxy statement filed 25 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 8.22m 5.57m 115.00
2024 7.06m 11.76m 167.00
2023 7.10m 12.52m 129.00
2022 5.68m (1.82m) 84.00

Ownership

Directors and executive officers, together 2.15%
BlackRock, Inc. 9.33%
The Vanguard Group, Inc. 7.33%
State Farm Insurance Companies One State Farm Plaza Bloomington, Illinois 6.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

HNI Corporation (HNI) Latest News

4 Nov

Impact 3 · · MarketBeat

3 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby
Impact 3 · · GuruFocus.com
Impact 3 · · StockStory
Impact 3 · · GlobeNewswire

2 Oct

Impact 3 · · Zacks

27 Sep

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

24 Sep

Impact 3 · · StockStory

21 Sep

Impact 3 · · GlobeNewswire

25 Aug

Impact 3 ·

20 Aug

Impact 4 ·

15 Aug

Impact 3 ·

7 Aug

Impact 3 · · The Motley Fool transcript

4 Aug

Impact 3 ·

31 Jul

Impact 3 · · Moby transcript
Impact 3 · · MarketBeat

30 Jul

Impact 3 ·
Impact 3 ·
Impact 3 ·

20 Jul

Impact 3 ·

17 Jul

Impact 3 ·

14 Jul

Impact 3 · transcript

10 Jun

Impact 3 · · StockStory

26 May

Impact 3 · · Simply Wall St.

16 May

Impact 3 · · StockStory

10 May

Impact 3 · · MarketBeat

6 May

Impact 4 · · Moby

HNI metrics, ten years each

stockrow.com/HNI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com