# HNI Corporation (HNI) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Industrials / Commercial Services & Supplies. Price $49.66, market value $3.6 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). HNI Corporation reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 0.8×**. Each dollar of revenue is priced at 0.8×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 2.0×**. The shares trade at 2.0× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 16.3×**. Enterprise value is 16.3× operating earnings before depreciation, the multiple that ignores how the company is financed.

## Profitability
- **Gross margin: 41.0%**. HNI Corporation keeps 41.0% of revenue after the direct cost of what it sells.
- **Operating margin: 2.0%**. 2.0% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 1.9%**. 1.9% of each dollar of sales reaches the bottom line.
- **Return on equity: 3.0%**. 3.0% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 2.4%**. Return on all capital, debt included, is 2.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 0.1%**. Each dollar of assets produces 0.1% of profit.

## Growth
- **Revenue growth (1 yr): 12.4%** (3-yr 6.3%/yr, 5-yr 7.7%/yr). Revenue grew 12.4% over the last year, against 7.7% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -61.5%** (3-yr -27.7%/yr, 5-yr 2.5%/yr). Earnings per share fell 61.5%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 153.5%/yr**. Free cash flow has compounded at 153.5% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.70**. Debt is 0.70 times equity, moderate leverage.
- **Net debt / EBITDA: 3.8×**. It would take 3.8 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 1.90**. A Z-score of 1.90 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 2.82%** ($1.37 per share, trailing). HNI Corporation yields 2.82%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 116%**. The dividend exceeds earnings (116% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 2.0%/yr** (1-yr 3.1%). The dividend has grown 2.0% a year over five years.

## Price and momentum
- **Total return (1 yr): 10.4%** (YTD 20.4%, 3-mo 59.5%). The shares are up 10.4% over twelve months including dividends.
- **From 52-week high: -5.9%** (71.7% above the low). Trading 6% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 62**. An RSI of 62 is neutral.
- **Beta (1 yr): 0.97** (volatility 36%). Beta of 0.97 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HNI · Page: https://foliofundamentals.com/stocks/hni

Not investment advice.