$HNI Corp (HNI.US)$Revenue has fluctuated around 2.1 billion...
$HNI Corp (HNI.US)$Revenue has fluctuated around 2.1 billion over the past 5 years. Operating profit fell to 100 million after reaching a peak of 150 million in 2019, continued to fall to 90 million in 2021, net profit fell to 40 million after reaching 111 million in 2019, and increased to 60 million in 2021. The difference between net profit and operating profit mainly comes from other expenses. This profit trend is very similar to Steelcase.
Revenue increased 13.4% in the first three quarters of 2022, operating profit increased 12.5%, and net profit doubled due to business sales revenue.
Currently, the price-earnings ratio of 11 times TTM doesn't seem very high, but considering that the profit from business sales accounts for 40% of the profit before tax, the valuation is actually not that low, and it is not very attractive.
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