HNI vs Millerknoll
Millerknoll is the larger business, with $3.84bn of revenue in fiscal 2026 against $2.84bn for HNI (1.4 times as much). HNI grew faster (12.4% against 4.7%). Millerknoll kept more of each dollar of sales as profit: a net margin of 2.4% against 1.9%. HNI carries less debt relative to equity (70.4% against 96.4%).
| Latest fiscal year | HNIHNI, 2025 | MillerknollMLKN, 2026 |
|---|---|---|
| Revenue | $2.84bn | $3.84bn |
| Revenue growth | 12.4% | 4.7% |
| Net income | $54.2m | $91.5m |
| Operating margin | 4.4% | 5.2% |
| Net margin | 1.9% | 2.4% |
| Return on equity | 4.1% | 7.0% |
| Free cash flow | $209m | $77.6m |
| Cash | $209m | $168m |
| Total debt | $1.29bn | $1.29bn |
| Debt to equity | 70.4% | 96.4% |
| Dividend per share | $1.35 | $0.75 |
| Dividend yield | 2.4% | 3.3% |
| Share buybacks | $83.6m | — |
| Employees | — | 10,544 |
| Market value | $3.41bn | $1.48bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 49 (Moderate) | 43 (Weak) |
| Insider trades, 12 months | 0 buys, 10 sales | 0 buys, 0 sales |