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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. In the quarter to June 2026, revenue grew 120.7%, EPS fell 32.7%, free cash flow grew 688.3% and total debt rose 210.8%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for five.

46.86 0.19 −0.40%
Market cap
$3.4B
P/E
426×
Fwd P/E
9.9×
Dividend yield
2.94%
F-score
5/9
Altman Z
1.30
Beneish M
−1.53
Dividend safety
45/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 4.75
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — 1 — — — — — 4 — —
Insider Ownership 1.68%

Capital & Financial Ratios $m

Market Cap 3,400.00
Revenue 4,392.00
Net Income 4.30
Free Cash Flow 114.30
Net Debt 1,307.60
Current Ratio 1.36
Debt/Equity 0.78
P/E ratio 426.00 (above 35: high)
Fwd P/E 9.85
P/S ratio 0.77
P/B ratio 1.87
Past 5Y EPS Growth 2.52%
This Y EPS Growth 22.62% (at or above 15%: strong)
Next Y EPS Growth 12.61%
Next Y revenue growth 110.78% (at or above 10%: strong)
Next 5Y EPS Growth 17.41% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, 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 98.67%
10-year low 10-year high
P/S against its own 10 years 53.15%
10-year low 10-year high
P/B against its own 10 years 11.57%
10-year low 10-year high
EV/Sales against its own 10 years 86.99%
10-year low 10-year high
EV/FCF against its own 10 years 80.21%
10-year low 10-year high

Dividends

Payout Ratio 15.33
Annual Dividend Rate 1.38
Annual Dividend Yield 2.94%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.36
0.34
0.35
0.35
2025 1.35
0.33
0.34
0.34
0.34
2024 1.31
0.32
0.33
0.33
0.33
2023 1.28
0.32
0.32
0.32
0.32
2022 1.27
0.31
0.32
0.32
0.32
2021 1.24
0.31
0.31
0.31
0.31
2020 1.22
0.31
0.31
0.31
0.31
2019 1.21
0.30
0.31
0.31
0.31
2018 1.17
0.29
0.30
0.30
0.30
2017 1.13
0.28
0.29
0.29
0.29
2016 1.09
0.27
0.28
0.28
0.28
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 35 27 216 108
Receivables 244 246 570 629
Inventory 197 194 475 499
Other — — — —
536 522 1,412 1,411
2023 2024 2025 Q'26
Payables 419 391 1,016 915
ST’ Debt 15 53 54 51
Other — — — —
464 478 1,139 1,036

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%

Revenue $m

Mar Jun Sep Dec Year
’26 1,348 1,472 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 (0.55) 0.70 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 29.84 31.16 32.55 29.90 16.61 32.22 26.51 24.61 39.95 38.04

Analyst estimates 2026–2028

Powerpack
High 56.96 56.94 45.40 42.23 42.90 46.93 44.50 43.22 58.42 53.29
People
People Employees 9,400 9,600 8,900 8,500 7,700 8,100 7,300 8,200 7,700 19,500
Revenue/emp, $m 0.23 0.23 0.25 0.26 0.25 0.27 0.32 0.30 0.33 0.15
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
Gross margin, % 37.90 36.03 36.98 37.11 36.88 34.67 35.35 38.96 40.90 41.43
EBT 129 71 119 143 54 78 146 65 179 91
EBT margin, % 5.85 3.25 5.26 6.35 2.78 3.58 6.20 2.66 7.10 3.20
Net income 86 90 93 111 42 60 124 49 140 54
Depreciation 69 73 87 77 78 83 84 95 108 107
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
Earnings 1.93 2.05 2.14 2.56 0.98 1.38 2.97 1.11 2.95 1.13
Cash flow 5.03 3.04 4.27 5.09 5.02 3.03 1.95 6.01 4.78 5.77
Capex (2.67) (2.70) (0.91) (1.55) (0.98) (1.53) (1.64) (1.78) (1.12) (1.42)
Free cash flow 2.36 0.34 3.36 3.54 4.04 1.50 0.31 4.23 3.67 4.35
Book value 11.28 11.74 12.91 13.56 13.83 13.59 14.79 17.12 17.73 38.32
Shares, m 44 44 44 43 43 43 42 45 47 48
Valuation, ×
Valuation, × P/E 28.50 19.07 16.56 14.58 35.16 30.47 9.71 39.94 17.07 32.34
P/S 1.11 0.79 0.68 0.72 0.75 0.84 0.51 0.76 0.95 0.71
P/B 4.88 3.33 2.75 2.76 2.49 3.09 1.96 2.43 2.84 1.10
EV/Sales 1.19 0.90 0.76 0.77 0.79 0.90 0.59 0.93 1.08 1.10
EV/FCF 25.02 133.26 11.76 11.41 8.90 30.16 108.38 12.02 15.63 15.04
Cash, $m
Cash, $m Operating cash flow 223 133 186 219 215 132 81 268 227 276
Capex (119) (118) (40) (67) (42) (67) (68) (79) (53) (68)
Free cash flow 105 15 147 152 173 65 13 188 174 209
Balance, $m
Balance, $m Working capital (30) (1) 98 50 57 17 74 72 45 273
Total debt 218 280 255 179 183 189 200 451 356 1,339
Net debt 180 254 177 126 65 135 181 417 329 1,123
Shareholders’ equity 501 515 563 584 591 590 617 762 840 1,836
Returns, %
Returns, % ROA 6.60 6.60 6.69 7.74 2.92 4.10 8.51 2.94 7.33 1.60
ROIC 12.27 6.23 10.83 13.32 5.86 7.37 12.17 4.79 11.03 2.66
ROE 17.49 17.68 17.33 19.26 7.13 10.13 20.54 7.14 17.41 4.05
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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. $14.9B 24.9× 22.2× −3.05% (below 0%: shrinking) +12.77% (above 0%: growing) +21.55% (above 0%: growing) 44.81% 11.06% Compare
MHK Mohawk Industries, Inc. $7.5B 15.9× 12.0× +6.76% (above 0%: growing) +37.45% (above 0%: growing) +80.97% (above 0%: growing) 26.58% 8.48% Compare
ALH Alliance Laundry Holdings Inc. $4.2B 22.8× 22.4× +6.61% (above 0%: growing) +92.52% (above 0%: growing) +2,126.43% (above 0%: growing) 39.83% 22.16% Compare
HNI HNI Corporation $3.4B 426× 9.9× +120.72% (above 0%: growing) −32.69% (below 0%: shrinking) +688.27% (above 0%: growing) 43.96% 6.26%
TILE Interface, Inc. $2.1B 14.4× 13.8× +5.37% (above 0%: growing) +58.93% (above 0%: growing) +14.82% (above 0%: growing) 45.00% 18.93% Compare
WHR Whirlpool Corporation $1.8B 9.5× 21.5× −6.79% (below 0%: shrinking) −1.71% (below 0%: shrinking) +69.84% (above 0%: growing) 12.57% 4.63% Compare
MLKN MillerKnoll, Inc. $1.5B 14.9× 8.3× −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 $1.2B 15.1× 12.3× −3.36% (below 0%: shrinking) n/m −100.71% (below 0%: shrinking) 43.87% (0.44%) Compare
Median of peers $2.0B 15.1× 13.8× +1.16% +34.24% +75.41% 40.78% 7.05%

All 31 Furnishings Fixtures & Appliances stocks →

HNI Corporation (HNI) key facts

  • Strength: HNI Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 12.4% from fiscal 2024.
  • HNI Corporation (HNI) is a Furnishings Fixtures & Appliances company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, HNI traded at $46.86, a market capitalization of $3.4 billion.
  • HNI Corporation pays an annual dividend of $1.38 per share, a yield of 2.94%.
  • Return on equity was 4.05% and debt-to-equity 0.78.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 1.30 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

HNI Corporation (HNI) Latest News

26 Feb

Impact 5 ·
stockrow.com/HNI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com