What is HNI's net debt?

HNI (HNI) reported net debt of $1.65B in Q1 2026.

How has HNI's net debt changed year-over-year?

HNI's net debt increased by 210.6% year-over-year, from $530.4M to $1.65B.

What is the long-term trend for HNI's net debt?

Over 5 years (2020 to 2025), HNI's net debt has grown at a 58.3% compound annual growth rate (CAGR), from $138.59M to $1.38B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

HNI HNI Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

TDA

USA TODAY Co., Inc.TDAY

8.8×+4.2×

Resolute Holdings Management RHLD

11.8×+10.5×

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$2.69B+24.4%

Enterprise value$4.33B+61.1%

P/E41.7×-18.0×

P/S0.8×-0.1×

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

See full

Return on equity16.8%+1.2pp

Debt / equity1×+0.3×

Current ratio1.4×+0.2×

Where this comes from

Calculated from HNI’s reported figures.

$1.7Btotal debt−$80.3Mcash and equivalents=$1.65B

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

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Questions, answered.

What is HNI's net debt?: HNI (HNI) reported net debt of $1.65B in Q1 2026.
How has HNI's net debt changed year-over-year?: HNI's net debt increased by 210.6% year-over-year, from $530.4M to $1.65B.
What is the long-term trend for HNI's net debt?: Over 5 years (2020 to 2025), HNI's net debt has grown at a 58.3% compound annual growth rate (CAGR), from $138.59M to $1.38B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.