HNI (HNI) FY2023 results: revenue $2.4 billion, up 3.1% on the year
HNI Corp. (HNI) reported revenue of $2.4 billion for fiscal 2023, the year ended 30 December 2023, up 3.1% on the year before. Net income was $49 million, down 60.3%, and diluted earnings per share $1.09. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$2.4 billion
+3.1% on the year
FY2016FY2023
Operating margin
3.7%
6.6% a year earlier
FY2016FY2023
Net income
$49 million
-60.3% on the year
FY2016FY2023
Diluted EPS
$1.09
-62.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
268
81.2
132
+229.4%
Capital expenditure
79.1
68.4
66.5
+15.6%
Free cash flow
188
12.8
65.1
+1,371.9%
Free cash flow margin
7.7%
0.5%
3.0%
Cash from investing
-445
-10.7
-111
Cash from financing
189
-105
-84.5
Depreciation and amortisation
94.9
84.2
83.1
+12.7%
Share-based compensation
16.5
9.0
12.9
+83.3%
Buybacks
0.3
65.2
59.2
-99.5%
Dividends paid
58.5
53.2
53.8
+10.0%
Dividend per share
$1.28
$1.27
$1.24
+0.8%
Diluted shares, weighted
45m
42m
44m
+7.6%
Shares outstanding at period end
47m
41m
43m
+13.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
761
616
590
+23.5%
Non-controlling interest
0.3
0.3
0.3
0.0%
Debt
436
190
178
+129.2%
Operating lease liabilities
104
78.9
63.8
+31.8%
Finance lease liabilities
7.9
7.7
7.4
+2.6%
Other liabilities
619
521
659
+18.9%
Total liabilities and equity
1,929
1,414
1,498
+36.4%
Fixed assets
555
352
367
+57.5%
Goodwill
441
306
297
+44.2%
Intangible assets
162
118
148
+36.6%
Investments
24.9
14.3
15.8
+74.1%
Cash and equivalents
28.9
17.4
52.3
+66.1%
Receivables
247
218
240
+13.1%
Inventory
197
180
182
+9.2%
Other assets
273
208
197
+31.8%
Total assets
1,929
1,414
1,498
+36.4%
10-K for the year ended 30 December 2023, filed 27 February 2024: the filing.