HNI (HNI) FY2016 results: revenue $2.2 billion, down 4.4% on the year
HNI Corp. (HNI) reported revenue of $2.2 billion for fiscal 2016, the year ended 31 December 2016, down 4.4% on the year before. Net income was $86 million, down 18.8%, and diluted earnings per share $1.88. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.2 billion
-4.4% on the year
FY2009FY2016
Operating margin
6.1%
7.1% a year earlier
FY2009FY2016
Net income
$86 million
-18.8% on the year
FY2009FY2016
Diluted EPS
$1.88
-19.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
2,203
2,304
2,223
-4.4%
Cost of revenue
1,368
1,457
1,438
-6.1%
Gross profit
835
847
784
-1.5%
Gross margin
37.9%
36.8%
35.3%
Research and development
28.1
31.1
29.7
-9.6%
Selling, general and administrative
668
672
649
-0.7%
Operating income
134
164
113
-18.3%
Operating margin
6.1%
7.1%
5.1%
Interest expense
5.1
6.9
8.3
-26.3%
Pre-tax income
129
157
105
-18.0%
Income tax
43.3
51.8
43.8
-16.4%
Effective tax rate
33.6%
32.9%
41.7%
Net income
85.6
105
61.5
-18.8%
Net margin
3.9%
4.6%
2.8%
Diluted EPS
$1.88
$2.32
$1.35
-19.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
223
173
168
+28.8%
Capital expenditure
93.4
82.6
74.3
+13.1%
Free cash flow
130
90.7
93.5
+43.2%
Free cash flow margin
5.9%
3.9%
4.2%
Cash from investing
-153
-113
-154
Cash from financing
-62.6
-66.1
-44.5
Depreciation and amortisation
68.9
57.6
56.7
+19.8%
Share-based compensation
8.1
9.1
8.6
-10.5%
Buybacks
55.8
26.7
67.9
+109.4%
Dividends paid
48.5
46.3
44.3
+4.7%
Dividend per share
$1.09
$1.04
$0.99
+4.3%
Diluted shares, weighted
46m
45m
46m
+0.1%
Shares outstanding at period end
44m
44m
44m
-0.2%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
501
477
415
+5.0%
Non-controlling interest
0.4
0.3
-0.1
+17.7%
Debt
214
190
198
+12.4%
Other liabilities
615
596
627
+3.2%
Total liabilities and equity
1,330
1,264
1,239
+5.2%
Fixed assets
356
341
311
+4.5%
Goodwill
291
278
279
+4.7%
Intangible assets
183
153
141
+19.3%
Investments
12.3
12.3
12.3
-0.3%
Cash and equivalents
36.3
28.5
34.1
+27.2%
Receivables
229
243
240
-5.7%
Inventory
118
125
122
-5.4%
Other assets
104
82.5
99.5
+25.9%
Total assets
1,330
1,264
1,239
+5.2%
10-K for the year ended 31 December 2016, filed 26 February 2019: the filing.