HNI (HNI) FY2018 results: revenue $2.3 billion, up 3.8% on the year
HNI Corp. (HNI) reported revenue of $2.3 billion for fiscal 2018, the year ended 29 December 2018, up 3.8% on the year before. Net income was $93 million, up 4.0%, and diluted earnings per share $2.11. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$2.3 billion
+3.8% on the year
FY2011FY2018
Operating margin
5.7%
3.5% a year earlier
FY2011FY2018
Net income
$93 million
+4.0% on the year
FY2011FY2018
Diluted EPS
$2.11
+5.5% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,258
2,176
2,203
+3.8%
Cost of revenue
1,423
1,392
1,368
+2.2%
Gross profit
835
784
835
+6.5%
Gross margin
37.0%
36.0%
37.9%
Research and development
33.4
31.8
28.1
+4.9%
Selling, general and administrative
691
672
668
+2.9%
Operating income
128
76.7
134
+67.1%
Operating margin
5.7%
3.5%
6.1%
Interest expense
9.4
6.1
5.1
+55.4%
Pre-tax income
119
70.6
129
+68.1%
Income tax
25.4
-19.3
43.3
Effective tax rate
21.4%
-27.3%
33.6%
Net income
93.4
89.8
85.6
+4.0%
Net margin
4.1%
4.1%
3.9%
Diluted EPS
$2.11
$2.00
$1.88
+5.5%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
186
133
223
+40.0%
Capital expenditure
63.7
109
93.4
-41.7%
Free cash flow
123
23.9
130
+413.4%
Free cash flow margin
5.4%
1.1%
5.9%
Cash from investing
-41.2
-118
-153
Cash from financing
-91.7
-28.1
-62.6
Depreciation and amortisation
74.8
72.9
68.9
+2.6%
Share-based compensation
7.3
7.8
8.1
-5.6%
Buybacks
30.5
57.5
55.8
-47.0%
Dividends paid
51.1
49.6
48.5
+3.1%
Dividend per share
$1.17
$1.13
$1.09
+3.5%
Diluted shares, weighted
44m
45m
46m
-1.1%
Shares outstanding at period end
44m
43m
44m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
563
514
501
+9.5%
Non-controlling interest
0.3
0.5
0.4
-36.0%
Debt
250
277
214
-9.6%
Other liabilities
589
600
615
-2.0%
Total liabilities and equity
1,402
1,392
1,330
+0.7%
Fixed assets
385
390
356
-1.4%
Goodwill
271
280
291
-3.1%
Intangible assets
164
182
183
-10.1%
Investments
12.0
12.5
12.3
-3.9%
Cash and equivalents
76.8
23.3
36.3
+229.0%
Receivables
255
259
229
-1.3%
Inventory
157
156
118
+1.0%
Other assets
81.2
89.5
104
-9.2%
Total assets
1,402
1,392
1,330
+0.7%
10-K for the year ended 29 December 2018, filed 26 February 2019: the filing.