HNI CORP (HNI)
Industrials · Commercial furniture and hearth products manufacturing · NYSE
HNI is a diversified manufacturer of workplace furnishings and residential hearth products, recently scaled through the $1.9B acquisition of Steelcase to become a global workspace solutions leader.
What HNI CORP does
HNI Corporation is a manufacturer of workplace furnishings and residential building products with operations spanning more than 80 years. The company operates in two main segments: Workplace Furnishings, which designs and markets commercial furniture systems, seating, and workspace solutions under multiple brands sold through dealers and distributors; and Residential Building Products, where it is the nation's leading manufacturer of hearth products including gas, wood, electric, and pellet-fueled fireplaces, stoves, and outdoor fire products. In December 2025, HNI acquired Steelcase Inc., a global furniture company, for $1.9 billion, significantly expanding its workplace furnishings footprint.
Themes: ["Workplace furnishings / office furniture","Commercial workspace solutions","Hearth products / fireplaces","Residential building products","Hybrid work adaptations"]
Fundamentals
- Price$39.02 as of 2026-07-09 close
- Market cap$2.8B as of 2026-07-10
- 1-year return-24.8% as of 2026-07-09 close
- P/E1891.88 as of 2026-07-10
- Net margin+0.0% as of 2026-07-10
- Gross margin+40.1% as of 2026-07-10
- ROE+0.1% as of 2026-07-10
- Debt / equity0.82 as of 2026-07-10
- Revenue growth (YoY)+41.3% as of 2026-07-10
- Revenue CAGR (3y)+4.7% SEC XBRL
- Beta0.92 as of 2026-07-10
Dividend: yield +3.6%; 1-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Macroeconomic sensitivity: Sales depend on service-sector employment, corporate profits, business confidence, commercial construction activity, and office occupancy levels; hybrid work adoption has reduced office occupancy below historical levels, adversely impacting workplace furnishings demand","Residential building products exposure to housing market cyclicality: Sales depend on housing starts, home sales, interest rates, home affordability, and consumer confidence; deterioration in the homebuilding industry could significantly decrease demand and operating results","Integration execution risk from Steelcase acquisition: The $1.9 billion December 2025 acquisition of Steelcase creates integration complexity and execution risk; failure to successfully integrate operations, dealer networks, and brands could impair expected synergies"]
Competitors & peers
- Steelcase (acquired by HNI in Dec 2025, formerly STLC)
- Kimball Electronics (KBRL)
- Knoll Inc. (KNL)
- Herman Miller (MLHR)
- Leggett & Platt (LEG)
- Haworth
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.