Filing Flows

Filing Flows › Companies › HNI › Cash flow

HNI cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$195M in Q3 2026 · $241M over twelve months

Operating cash flow$195M
Free cash flow+$195M
Cash / net income2.2×

Analysis

In Q3 2026, HNI generated $195M of operating cash flow.

Over the twelve months to Oct 3, 2026, operating cash flow was $241M; the largest uses were acquisitions ($414M), other investing ($118M), dividends ($93.2M); besides operations, cash came from net borrowing (+) / repaid (−) ($555M), shares issued ($7.9M); the cash balance rose by $98.5M.

Operating cash flow was $195M against net income of $90.0M — 2.2× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$70.4M, payables +$43.6M, receivables −$36.2M.

Free cash flow

HNI: free cash flow by quarterHNI: free cash flow by quarter$41.5MQ4 2024−$3.7MQ1 2025$16.1MQ2 2025$136MQ3 2025$60.4MQ4 2025−$208MQ1 2026$140MQ2 2026$195MQ3 2026
Operating cash flow less capital spending.
HNI: operating cash flow against capital spendingHNI: operating cash flow against capital spendingOperating cash flowCapital spending$51.2M$9.7MQ4 2024$12.6M$16.3MQ1 2025$31.1M$15.0MQ2 2025$155M$19.6MQ3 2025$77.4M$17.0MQ4 2025−$172M$35.7MQ1 2026$140M$0Q2 2026$195M$0Q3 2026
Latest (Q3 2026): Operating cash flow $195M, Capital spending $0.

Capital allocation, year by year

HNI: where the cash came from (up) and went (down), by fiscal yearHNI: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $132MFY2021: Net borrowing −$300KFY2021: Shares issued $59.6MFY2021: Capital spending −$66.5MFY2021: Acquisitions −$44.6MFY2021: Buybacks −$59.2MFY2021: Dividends −$53.8M$191MFY2021FY2022: Operating cash flow $81.2MFY2022: Net borrowing $9.0MFY2022: Shares issued $6.8MFY2022: Capital spending −$68.4MFY2022: Acquisitions −$11.4MFY2022: Buybacks −$65.2MFY2022: Dividends −$53.2M$97.0MFY2022FY2023: Operating cash flow $268MFY2023: Net borrowing $244MFY2023: Shares issued $10.4MFY2023: Capital spending −$79.1MFY2023: Acquisitions −$370MFY2023: Buybacks −$300KFY2023: Dividends −$58.5M$522MFY2023FY2024: Operating cash flow $227MFY2024: Net borrowing $223MFY2024: Shares issued $101MFY2024: Capital spending −$52.9MFY2024: Buybacks −$65.8MFY2024: Dividends −$63.6M$551MFY2024FY2025: Operating cash flow $276MFY2025: Net borrowing $508MFY2025: Shares issued $5.4MFY2025: Capital spending −$67.8MFY2025: Acquisitions −$390MFY2025: Buybacks −$83.6MFY2025: Dividends −$63.1M$790MFY2025
Over these 5 years operating cash flow totalled $983M; the largest uses were acquisitions ($816M) and capital spending ($335M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$114M
Debt$1.4B
Net debt$1.2B
Due within a year$16.2M

HNI funds itself: free cash flow was $241M over the last twelve months, and $114M of cash and investments stands against $1.4B of debt ($16.2M due within a year, 7.0× covered by cash).

HNI: debt maturities by year (FY2025)HNI: debt maturities by year (FY2025)$16.2MYear 1$22.5MYear 2$22.5MYear 3$473MYear 4$307MYear 5$476MAfter year 5
Principal due in each year as disclosed in the annual report, against $114M of cash and investments now.

Where the cash came from and went

HNI: sources (+) and uses (−) of cash, Q3 2026HNI: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$195MNet borrowing (+) / repaid (−)−$58.4MOther financing−$55.8MOther investing−$48.0MDividends−$25.5MCash drawn (+) / kept (−)−$6.6MShares issued$6.0MBuybacks−$5.6MTaxes on employees’ shares−$2.1MAsset & business sales$800KNot reconciled−$100K
HNI: sources (+) and uses (−) of cash, TTM to Q3 2026HNI: sources (+) and uses (−) of cash, TTM to Q3 2026Net borrowing (+) / repaid (−)$555MAcquisitions−$414MOperating cash flow$241MOther investing−$118MCash drawn (+) / kept (−)−$98.5MDividends−$93.2MOther financing−$73.2MShares issued$7.9MBuybacks−$5.6MNot reconciled−$100K

From profit to cash

HNI: net income to operating cash flow, Q3 2026HNI: net income to operating cash flow, Q3 2026Net income$90.0MDepreciation & amortization$70.4MStock-based pay$5.8MDeferred taxes$5.8MImpairments−$600KOther non-cash$4.7MReceivables−$36.2MInventory$12.9MPayables$43.6MPrepaid and other assets$12.5MIncome taxes payable$1.2MOperating cash flow$195M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$195M——−$5.6M−$25.5M−$58.4M$6.0M−$6.6M$195M
Q2 2026$140M—−$700K—−$25.5M−$71.9M$700K−$32.3M$140M
Q1 2026−$172M−$35.7M−$45.7M—−$26.6M$151M$700K$138M−$208M
Q4 2025$77.4M−$17.0M−$390M—−$15.6M$534M$500K−$197M$60.4M
Q3 2025$155M−$19.6M—−$3.8M−$15.6M−$120M$1.5M$11.3M$136M
Q2 2025$31.1M−$15.0M—−$39.4M−$15.7M$164M$1.0M−$10.9M$16.1M
Q1 2025$12.6M−$16.3M—−$40.4M−$16.2M$60.9M$800K$1.4M−$3.7M
Q4 2024$51.2M−$9.7M—−$41.0M−$15.7M$65.8M$5.8M$11.7M$41.5M

HNI: income statement and cash flow

HNI, Q3 2026: revenue $1.6B (+133% year over year), operating margin 8.6%. The chart follows the revenue to costs, profit and cash.

HNI: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.