What is HNI's workplace furnishings — inventory step-up?

HNI (HNI) reported workplace furnishings — inventory step-up of $31.3M in Q1 2026.

What does workplace furnishings — inventory step-up mean?

This represents the increase in the carrying value of acquired inventory to its fair value at the date of acquisition. This accounting adjustment typically impacts the cost of goods sold as the inventory is subsequently sold, affecting short-term segment profitability.

HNI HNI Workplace furnishings — Inventory step-up

Similar metrics at other companies

LOARRecognition Of Inventory Step Up

$4.92M+43,598%

CRLInventory, step-up amortization

$6.13M-11.6%

BSXInventory step-up amortization

$2M-97.5%

JAZZAcquisition accounting inventory fair value step-up adjustment

$37.5M+25.4%

WORBuilding Products — Amortization Of Inventory Step Up

$1.5M—

HAEAmortization of fair value inventory step-up

$0-100%

Other financials

Income statement

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Revenue$1.3B+125%

Gross profit$499.9M+110%

Operating income-$36.4M-249%

Net income-$38.8M-379%

EPS (diluted)-$0.55-290%

Balance sheet

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Cash & equivalents$80.3M+281%

Total debt$1.7B+213%

Total equity$1.8B+121%

Total assets$4.8B+157%

Cash flow

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Operating cash flow-$171.8M-1,463%

CapEx$35.7M+119%

Free cash flow-$207.5M-5,508%

Valuation

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Market cap$2.47B+32.5%

Enterprise value$4.11B+70.0%

P/E38.2×-16.5×

P/S0.7×0.0×

Profitability

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Gross margin40.1%-0.8pp

Operating margin8.2%+1.0pp

Net margin5.5%+0.6pp

FCF margin0.1%-7.2pp

Returns & leverage

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Return on equity16.8%+1.2pp

Debt / equity1×+0.3×

Current ratio1.4×+0.2×

Where this comes from

Reported directly by HNI in its filing.

Tagged under the XBRL concept us-gaap:BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory.

The official record: HNI’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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What is HNI's workplace furnishings — inventory step-up?: HNI (HNI) reported workplace furnishings — inventory step-up of $31.3M in Q1 2026.
What does workplace furnishings — inventory step-up mean?: This represents the increase in the carrying value of acquired inventory to its fair value at the date of acquisition. This accounting adjustment typically impacts the cost of goods sold as the inventory is subsequently sold, affecting short-term segment profitability.