HNI Corporation (HNI) vs MasterBrand, Inc. (MBC)

HNI Corporation and MasterBrand, Inc. are both Furnishings Fixtures & Appliances companies. HNI Corporation is the larger, with a market value of $3.4B against $1.5B — 2.3× the size. MasterBrand, Inc. has negative trailing earnings, so its P/E is not meaningful; HNI Corporation trades at 429×. HNI Corporation grew revenue faster over the last twelve months: 70.1% against −0.01%. HNI Corporation has the higher net margin (0.10% vs −3.49%) and the higher return on invested capital (1.79% vs −0.64%). Across the 21 metrics below, HNI Corporation leads on 12 and MasterBrand, Inc. on 9.

Valuation

Metric HNI MBC Furnishings Fixtures & Appliances median
P/E 428.64 n/m 14.03
P/S 0.77 0.40 0.52
P/B 1.88 0.56 1.06
Price to free cash flow 29.74 14.83 9.86
EV/EBITDA 16.40 31.38 7.67
EV/Sales 1.07 0.81 0.67
Earnings yield 0.23% (9.54%) 3.50%
Free cash flow yield 3.36% 6.74% 7.55%

Profitability

Metric HNI MBC Furnishings Fixtures & Appliances median
Gross margin 40.95% 26.93% 37.53%
Operating margin 2.03% (1.14%) 2.03%
Net margin 0.10% (3.49%) 1.65%
Free cash flow margin 2.60% 2.70% 3.92%
Return on equity 0.34% (5.82%) 5.51%
Return on assets 0.13% (2.61%) 1.69%
Return on invested capital 1.79% (0.64%) 3.55%

Growth

Metric HNI MBC Furnishings Fixtures & Appliances median
Revenue growth (TTM) 70.13% (0.01%) 1.14%
EPS growth (last fiscal year) (61.46%) (78.13%) —
Revenue growth, 5-year CAGR 7.74% 2.06% 0.64%
Net income growth, 5-year CAGR 5.28% (28.78%) 0.00%

Health

Metric HNI MBC Furnishings Fixtures & Appliances median
Debt to equity 0.78 0.71 0.17
Current ratio 1.36 1.76 1.97
Net debt to EBITDA 4.82 3.72 0.06

Dividend

Metric HNI MBC Furnishings Fixtures & Appliances median
Dividend yield 3.04% — 2.20%
Payout ratio 0.79 — 0.09

Size

Metric HNI MBC Furnishings Fixtures & Appliances median
Market cap 3.37b 1.46b 212.02m

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