MLKN vs. HNI

Last updated Jun 3, 2026

MLKN (MillerKnoll, Inc.) and HNI (HNI Corporation) are both stocks. MLKN operates in Furnishings, Fixtures & Appliances (Consumer Cyclical), while HNI operates in Business Equipment & Supplies (Industrials). Over the past 10 years, MLKN returned -4.84%/yr vs -0.88%/yr for HNI. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

MLKN vs. HNI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MillerKnoll, Inc. (MLKN) and HNI Corporation (HNI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLKN achieves a -15.94% return, which is significantly higher than HNI's -25.48% return. Over the past 10 years, MLKN has underperformed HNI with an annualized return of -4.84%, while HNI has yielded a comparatively higher -0.88% annualized return.

MLKN

• 1D: -2.11%
• 1M: -6.06%
• YTD: -15.94%
• 6M: -2.12%
• 1Y: -4.57%
• 3Y*: 5.50%
• 5Y*: -18.47%
• 10Y*: -4.84%

HNI

• 1D: -1.09%
• 1M: -16.95%
• YTD: -25.48%
• 6M: -25.21%
• 1Y: -30.96%
• 3Y*: 8.67%
• 5Y*: -4.40%
• 10Y*: -0.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MLKN vs. HNI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLKN MillerKnoll, Inc.	-15.94%	-15.73%	-13.01%	32.01%	-44.89%	17.99%	-17.99%	40.49%	-22.84%	19.65%
HNI HNI Corporation	-25.48%	-13.91%	23.75%	53.16%	-29.89%	25.86%	-4.24%	9.30%	-5.34%	-28.99%

Correlation

The correlation between MLKN and HNI is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.52

The correlation between MLKN and HNI shifts across timeframes, from 0.52 (all time) to 0.75 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS MLKN : $0.80 HNI : -$0.49
PS Ratio MLKN : 0.27 HNI : 0.27
Total Revenue (TTM) MLKN : $3.80B HNI : $3.59B
Gross Profit (TTM) MLKN : $1.47B HNI : $1.43B
EBITDA (TTM) MLKN : $322.30M HNI : $224.70M

Return for Risk

MLKN vs. HNI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLKN

MLKN Risk / Return Rank: 35
MLKN Sharpe Ratio Rank: 36
MLKN Sortino Ratio Rank: 34
MLKN Omega Ratio Rank: 34
MLKN Calmar Ratio Rank: 34
MLKN Martin Ratio Rank: 34

HNI

HNI Risk / Return Rank: 8
HNI Sharpe Ratio Rank: 6
HNI Sortino Ratio Rank: 8
HNI Omega Ratio Rank: 8
HNI Calmar Ratio Rank: 14
HNI Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MLKN vs. HNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MillerKnoll, Inc. (MLKN) and HNI Corporation (HNI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MLKN	HNI	Difference
Sharpe ratio Return per unit of total volatility	-0.10	-0.92	+0.83
Sortino ratio Return per unit of downside risk	0.19	-1.22	+1.42
Omega ratio Gain probability vs. loss probability	1.03	0.84	+0.19
Calmar ratio Return relative to maximum drawdown	-0.19	-0.72	+0.53
Martin ratio Return relative to average drawdown	-0.35	-1.55	+1.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLKN vs. HNI - Sharpe Ratio Comparison

The current MLKN Sharpe Ratio is -0.10, which is higher than the HNI Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of MLKN and HNI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLKN	HNI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	-0.92	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.41	-0.14	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.11	-0.02	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.17	-0.04

Drawdowns

MLKN vs. HNI - Drawdown Comparison

The maximum MLKN drawdown since its inception was -79.45%, smaller than the maximum HNI drawdown of -86.09%. Use the drawdown chart below to compare losses from any high point for MLKN and HNI.

Drawdown Indicators

	MLKN	HNI	Difference
Max Drawdown Largest peak-to-trough decline	-79.45%	-86.09%	+6.64%
Max Drawdown (1Y) Largest decline over 1 year	-37.80%	-43.91%	+6.11%
Max Drawdown (3Y) Largest decline over 3 years	-53.31%	-47.12%	-6.19%
Max Drawdown (5Y) Largest decline over 5 years	-72.06%	-47.12%	-24.94%
Max Drawdown (10Y) Largest decline over 10 years	-72.06%	-64.36%	-7.70%
Current Drawdown Current decline from peak	-65.04%	-43.79%	-21.25%
Average Drawdown Average peak-to-trough decline	-27.99%	-24.88%	-3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.04%	20.40%	-0.36%

Volatility

MLKN vs. HNI - Volatility Comparison

MillerKnoll, Inc. (MLKN) and HNI Corporation (HNI) have volatilities of 13.85% and 14.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLKN	HNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.85%	14.20%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	37.84%	26.46%	+11.38%
Volatility (1Y) Calculated over the trailing 1-year period	47.32%	33.64%	+13.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.43%	31.49%	+13.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.67%	37.34%	+7.33%

Dividends

MLKN vs. HNI - Dividend Comparison

MLKN's dividend yield for the trailing twelve months is around 4.98%, more than HNI's 4.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HNI HNI Corporation	4.46%	3.21%	2.60%	3.06%	4.47%	2.94%	3.54%	3.23%	3.30%	2.93%	1.95%	2.90%
MLKN MillerKnoll, Inc.	4.98%	4.10%	3.32%	2.81%	3.57%	1.91%	1.18%	1.96%	2.50%	1.75%	1.86%	2.00%

Financials

MLKN vs. HNI - Profitability Comparison

The chart below illustrates the profitability comparison between MillerKnoll, Inc. and HNI Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MLKN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MillerKnoll, Inc. reported a gross profit of 352.90M and revenue of 926.60M. Therefore, the gross margin over that period was 38.1%.

HNI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HNI Corporation reported a gross profit of 499.90M and revenue of 1.35B. Therefore, the gross margin over that period was 37.1%.

MLKN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MillerKnoll, Inc. reported an operating income of 44.90M and revenue of 926.60M, resulting in an operating margin of 4.9%.

HNI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HNI Corporation reported an operating income of -36.40M and revenue of 1.35B, resulting in an operating margin of -2.7%.

MLKN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MillerKnoll, Inc. reported a net income of 67.90M and revenue of 926.60M, resulting in a net margin of 7.3%.

HNI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HNI Corporation reported a net income of -55.60M and revenue of 1.35B, resulting in a net margin of -4.1%.

Frequently Asked Questions

Can I hold both MLKN and HNI in my portfolio?

MLKN and HNI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLKN or HNI?

HNI has higher volatility (14.20%) compared to MLKN (13.85%). In terms of maximum drawdown, MLKN dropped -79.45% vs HNI's -86.09%.

Which has better risk-adjusted returns?

MLKN currently has the higher Sharpe Ratio (-0.10 vs -0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.