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HNI Corporation has been improving where people live, work, and gather for more than 80 years. HNI is a manufacturer of workplace furnishings and residential building products.
$31.19
$0.57 (-1.79%)
Price from 7 days ago
Operating margin is thin at 4.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 12.4%, still solid. Margins contracted 3.7pp, which offsets some of the top-line progress.
At 116x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 12.46% to 3.76%, capital efficiency is deteriorating.
115.5x earnings, 10.7x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$3.59B
▲ +12.4% YoY
Net Income (TTM)
$2M
▼ -61.1% YoY
Op. Margin
1.82%
▼ -3.7pp YoY
ROIC
2.10%
▼ -8.7pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$209M
▲ +20.0% YoY
Op. Cash Flow (FY)
$276M
▲ +21.9% YoY
Net Debt
$1.65B
Cash & Equiv.
$78M
5Y CAGR: +7.7%
5Y CAGR: +3.8%
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