HNI (HNI) reported R&D of $14.15M in Q4 2025.

How has HNI's R&D changed year-over-year?

HNI's R&D increased by 5.6% year-over-year, from $13.4M to $14.15M.

What is the long-term trend for HNI's R&D?

Over 4 years (2021 to 2025), HNI's R&D has grown at a 9.5% compound annual growth rate (CAGR), from $39.4M to $56.6M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

HNI HNI R&D

R&D at other companies

Resideo Technologies, Inc.REZI

$48M+37.1%

Carrier GlobalCARR

$143M-6.5%

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+32.5%

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:ResearchAndDevelopmentExpense.

The official record: HNI’s 10-K, filed March 3, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HNI's R&D?: HNI (HNI) reported R&D of $14.15M in Q4 2025.
How has HNI's R&D changed year-over-year?: HNI's R&D increased by 5.6% year-over-year, from $13.4M to $14.15M.
What is the long-term trend for HNI's R&D?: Over 4 years (2021 to 2025), HNI's R&D has grown at a 9.5% compound annual growth rate (CAGR), from $39.4M to $56.6M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.