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HNI Valuation Multiples

Discover revenue and EBITDA valuation multiples for HNI and similar public comparables like Husqvarna, Man Wah Holdings, Central Garden & Pet, Vohringer Home Technology and more.

HNI Overview

About HNI

HNI Corp is a provider of commercial furnishings and hearth products. Its two reportable segments are workplace furnishings and residential building products. The workplace furnishings segment includes furniture systems, seating, storage, tables, architectural products, ancillary products, and hospitality products. The residential building products segment includes various gas, wood, electric, and pellet-fueled fireplaces, inserts, stoves, facings, outdoor fire pits and fire tables, and accessories. The company's products are sold through independent dealers, distributors, eCommerce retailers, wholesalers, and retail outlets. A majority of the firm's revenue is generated from the Workplace furnishings segment. Geographically, it operates in the United States.


Founded

1944

HQ

United States

Employees

7.7K

Financials (LTM)

Revenue: $4B
EBITDA: $445M

EV

$4B

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HNI Financials

HNI reported last 12-month revenue of $4B and EBITDA of $445M.

In the same LTM period, HNI generated $2B in gross profit, $445M in EBITDA, and $125M in net income.

Revenue (LTM)


HNI P&L

In the most recent fiscal year, HNI reported revenue of $3B and EBITDA of $359M.

HNI expects next 12-month revenue of XXX and NTM EBITDA of XXX

See HNI forward-looking valuation multiples
LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue$4BXXX$3BXXXXXXXXX
Gross Profit$2BXXX$1BXXXXXXXXX
Gross Margin41%XXX41%XXXXXXXXX
EBITDA$445MXXX$359MXXXXXXXXX
EBITDA Margin12%XXX13%XXXXXXXXX
EBIT Margin9%XXX10%XXXXXXXXX
Net Profit$125MXXX$54MXXXXXXXXX
Net Margin3%XXX2%XXXXXXXXX
Net Debt——$1BXXXXXXXXX

Financial data powered by Morningstar, Inc.

HNI Stock Performance

HNI has current market cap of $3B, and enterprise value of $4B.

Market Cap Evolution


HNI's stock price is $34.89.

See HNI trading valuation data
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$4B$3B0.8%XXXXXXXXX$0.75

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HNI Valuation Multiples

HNI trades at 1.0x EV/Revenue multiple, and 8.7x EV/EBITDA.

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EV / Revenue (LTM)


HNI Financial Valuation Multiples

As of April 11, 2026, HNI has market cap of $3B and EV of $4B.

Equity research analysts estimate HNI's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

HNI has a P/E ratio of 20.1x.

LTMNTMLast FYFY 2026FY 2027FY 2028
Market cap (current)$3BXXX$3BXXXXXXXXX
EV (current)$4BXXX$4BXXXXXXXXX
EV/Revenue1.0xXXX1.4xXXXXXXXXX
EV/EBITDA8.7xXXX10.8xXXXXXXXXX
EV/EBIT11.6xXXX14.1xXXXXXXXXX
EV/Gross Profit2.6xXXX3.3xXXXXXXXXX
P/E20.1xXXX46.3xXXXXXXXXX
EV/FCF17.6xXXX18.7xXXXXXXXXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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HNI Margins & Growth Rates

HNI's revenue in the last 12 month grew by 66%.

HNI's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

HNI's rule of 40 is 127% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

HNI's rule of X is 300% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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HNI Operational Valuation Multiples

LTMNTMLast FYFY 2026FY 2027FY 2028
Revenue Growth66%XXX116%XXXXXXXXX
EBITDA Margin12%XXX13%XXXXXXXXX
EBITDA Growth56%XXX88%XXXXXXXXX
Rule of 40—XXX127%XXXXXXXXX
Bessemer Rule of X—XXX300%XXXXXXXXX
Revenue per Employee—XXX$0.4MXXXXXXXXX
Opex per Employee—XXX$0.1MXXXXXXXXX
Opex to Revenue—XXX33%XXXXXXXXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 230+ Verticals

HNI Public Comps

See public comps and valuation multiples for other Home & Decor comps.

EV/RevenueEV/EBITDA
LTM2026E2027ELTM2026E2027E
HusqvarnaXXXXXXXXXXXXXXXXXX
Man Wah HoldingsXXXXXXXXXXXXXXXXXX
Central Garden & PetXXXXXXXXXXXXXXXXXX
Vohringer Home TechnologyXXXXXXXXXXXXXXXXXX
SuofeiyaXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXX

Valuation data powered by FactSet, Inc.

HNI M&A Activity

HNI acquired XXX companies to date.

Last acquisition by HNI was on XXXXXXXX, XXXXX. HNI acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Acquisitions by HNI

Acquired CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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HNI Investment Activity

HNI invested in XXX companies to date.

HNI made its latest investment on XXXXXXXX, XXXXX. HNI invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).

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Latest Investments by HNI

CompanyValuationEV/RevenueEV/EBITDA
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXX

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About HNI

When was HNI founded?HNI was founded in 1944.
Where is HNI headquartered?HNI is headquartered in United States.
How many employees does HNI have?As of today, HNI has over 7K employees.
Who is the CEO of HNI?HNI's CEO is Jeffrey D. Lorenger.
Is HNI publicly listed?Yes, HNI is a public company listed on NYSE.
What is the stock symbol of HNI?HNI trades under HNI ticker.
When did HNI go public?HNI went public in 1972.
Who are competitors of HNI?HNI main competitors are Husqvarna, Man Wah Holdings, Central Garden & Pet, Vohringer Home Technology.
What is the current market cap of HNI?HNI's current market cap is $3B.
What is the current revenue of HNI?HNI's last 12 months revenue is $4B.
What is the current revenue growth of HNI?HNI revenue growth (NTM/LTM) is 66%.
What is the current EV/Revenue multiple of HNI?Current revenue multiple of HNI is 1.0x.
Is HNI profitable?Yes, HNI is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of HNI?HNI's last 12 months EBITDA is $445M.
What is HNI's EBITDA margin?HNI's last 12 months EBITDA margin is 12%.
What is the current EV/EBITDA multiple of HNI?Current EBITDA multiple of HNI is 8.7x.
What is the current FCF of HNI?HNI's last 12 months FCF is $221M.
What is HNI's FCF margin?HNI's last 12 months FCF margin is 6%.
What is the current EV/FCF multiple of HNI?Current FCF multiple of HNI is 17.6x.

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