HNI on NYSE

HNI Corporation

Logo: HNI Corporation, Public domain, via Wikimedia Commons4

American office furniture manufacturer

HNI Corporation is one of the largest office furniture manufacturers in the world in regard to revenues resulting from office segment sales. HNI is also the world's leading hearth products company, manufacturing and marketing gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

$2.8BRevenue, fiscal 20265
$54.2MNet income, fiscal 20265
1944Founded1

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  • TickerHNI on NYSE1
  • Industryfurniture industry, industrial manufacturing1
  • HeadquartersMuscatine1
  • Founded inMuscatine1
  • Websitewww.hnicorp.com
  • Incorporated inIA6
  • Business address600 East Second Street - Po Box 1109, Muscatine, Ia 52761-71096
  • Filer categoryLarge accelerated filer6

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HNI Corporation is one of the largest office furniture manufacturers in the world in regard to revenues resulting from office segment sales. HNI is also the world's leading hearth products company, manufacturing and marketing gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. The company was founded in 1944 by engineer C. Maxwell Stanley, advertising executive Clem Hanson, and industrial designer H. Wood Miller. Its headquarters are in Muscatine, Iowa, with operations located in Muscatine, in various other U.S. states, and in Asia.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

41.4%Gross margin5
4.4%Operating margin5
1.9%Net margin5
3.0%Return on equity5
0.70×Debt to equity5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Workplace Furnishings Americas brought in 76% of the revenue HNI Corporation broke down this way in fiscal 2025.

  1. Workplace Furnishings Americas$2.2B576%up 15% from 2024
  2. Residential Building Products$674.9M524%up 6% from 2024
Business segments by year
Business segments202320242025
Workplace Furnishings Americas$1.7B$1.9B$2.2B
Residential Building Products$693.7M$638.4M$674.9M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue59¢$1.7B
  • Research and development2¢$56.6M
  • Selling, general and admin33¢$937.0M
  • Other costs3¢$91.8M
  • Income tax1¢$36.5M
  • Profit2¢$54.2M

Out of $2.8B in revenue.5

Where each dollar of operating cash went, fiscal 2026

  • Dividends paid23¢$63.1M
  • Share buybacks30¢$83.6M
  • Kept or used elsewhere47¢$129.6M

Out of $276.3M of cash from operations.5

Financial statements

Revenue7895$2.8B in 2026+26% since 2019
0$1.0B$2.0B$3.0B2019: $2.2B$2.2B20192021: $2.0B$2.0B2021−13%2022: $2.4B$2.4B2022+21%2023: $2.4B$2.4B2023+3%2024: $2.5B$2.5B2024+4%2026: $2.8B$2.8B2026+12%
Gross profit7895$1.2B in 2026+41% since 2019
0$500.0M$1.0B$1.5B2019: $833.8M$833.8M20192021: $721.1M$721.1M2021−14%2022: $834.9M$834.9M2022+16%2023: $948.3M$948.3M2023+14%2024: $1.0B$1.0B2024+9%2026: $1.2B$1.2B2026+14%
Operating income7895$126.0M in 2026−17% since 2019
0$100.0M$200.0M$300.0M2019: $151.3M$151.3M20192021: $61.4M$61.4M2021−59%2022: $155.2M$155.2M2022+153%2023: $90.3M$90.3M2023−42%2024: $206.5M$206.5M2024+129%2026: $126.0M$126.0M2026−39%
Net income7895$54.2M in 2026−51% since 2019
0$50.0M$100.0M$150.0M2019: $110.5M$110.5M20192021: $41.9M$41.9M2021−62%2022: $123.9M$123.9M2022+196%2023: $49.2M$49.2M2023−60%2024: $139.5M$139.5M2024+184%2026: $54.2M$54.2M2026−61%

Every line of the income statement in the latest annual report, as filed.5

Period ending2025-12-312024-12-312023-12-31
Net sales$2.8B$2.5B$2.4B
Cost of sales$1.7B$1.5B$1.5B
Gross profit$1.2B$1.0B$948.3M
Selling and administrative expenses$937.0M$820.7M$772.0M
Acquisition costs$94.6M$0$41.2M
Restructuring, impairment, and loss on divestiture$18.5M$6.2M$44.8M
Operating income$126.0M$206.5M$90.3M
Interest expense, net$35.6M$27.2M$25.5M
Other non-operating income, net$400.0K$0$0
Income before income taxes$90.8M$179.3M$64.8M
Income tax expense$36.5M$39.8M$15.6M
Net income$54.2M$139.5M$49.2M
Less: Net income attributable to non-controlling interest$0$0$0
Net income attributable to HNI Corporation$54.2M$139.5M$49.2M
Average number of common shares outstanding basic (in shares)47.9M shares47.4M shares44.5M shares
Net income attributable to HNI Corporation per common share basic (in dollars per share)$1.13$2.95$1.11
Average number of common shares outstanding - diluted (in shares)48.9M shares48.5M shares45.4M shares
Net income attributable to HNI Corporation per common share diluted (in dollars per share)$1.11$2.88$1.09
Foreign currency translation adjustments$8.5M-$400.0K-$200.0K
Change in unrealized gains (losses) on marketable securities, net of tax$200.0K$100.0K$400.0K
Change in pension and post-retirement liability, net of tax$3.4M$1.1M$0
Change in derivative financial instruments, net of tax-$400.0K$1.6M-$2.8M
Other comprehensive income (loss), net of tax$11.8M$2.4M-$2.6M
Comprehensive income$66.0M$141.9M$46.6M
Less: Comprehensive income (loss) attributable to non-controlling interest$0$0$0
Comprehensive income attributable to HNI Corporation$66.0M$141.9M$46.6M

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Leadership

Who has led HNI Corporation, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jack D. Michaels2003–2004
  2. Stanley A. Askren2004–2018
  3. Jeffrey D. Lorenger2018–now

Chair

  1. Jack D. Michaels2003–2004
  2. Stanley A. Askren2005–2018

President

  1. Stanley A. Askren2004–2018
  2. Bradley D. Determan2004
  3. Eric K. Jungbluth2004–2005
  4. Thomas A. Tolone2004–2005
  5. Donald T. Mead2004
  6. Vincent P. Berger2016–2018
  7. Jeffrey D. Lorenger2018
  8. Brandon T. Sieben2018–2019
  9. Bishop Brandon Bullock Iii.2019
  10. Kristin L. Yates2019–2020
  11. Jason Dean Hagedorn2020–2026
  12. Irene Tasi2026–now

Chief financial officer

  1. Jerald K. Dittmer2004–2008
  2. Kurt A. Tjaden2008–2016
  3. Marshall H. Bridges2017–2024
  4. Vincent P. Berger2025–now

Chief operating officer

  1. Kourtney L. Smith2023–2026
  2. Bishop Brandon Bullock Iii.2026–now
197019801990200020102020
Board members and other officers (57)

Products and brands

  • hearth
  • office furniture

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

  • The HON Company

From Wikidata.1

Former names

  • HON INDUSTRIES INCApr 1, 1994 to May 4, 20046

Timeline

  1. Jul 2, 2018New chief executive Jeffrey D. Lorenger becomes CEO16
  2. May 6, 2004New chief executive Stanley A. Askren becomes CEO17
  3. Aug 29, 2003New chief executive Jack D. Michaels becomes CEO18
  4. 1944Founded Founded in Muscatine1

Recent filings

  1. Sep 22, 2026144
  2. Sep 16, 20263
  3. Sep 16, 20264
  4. Sep 14, 2026144
  5. Sep 1, 20264
  6. Aug 28, 20264
  7. Aug 28, 2026144
  8. Aug 27, 2026144
  9. Aug 26, 20264
  10. Aug 26, 2026144
  11. Aug 24, 2026144
  12. Aug 20, 20264
  13. Aug 20, 20268-K
  14. Aug 6, 2026SCHEDULE 13G/A
  15. Aug 5, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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