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Herman Miller

OverviewSuggest Edit

Herman Miller is a global provider of interior furnishings and technology solutions for organizations and individuals. The company engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services. It also offers modular systems, storage products, ergonomic solutions, data-enabled solutions, and a range of residential, education, and healthcare furniture solutions. Herman Miller sells products through multiple distribution channels, including contract furniture dealers, direct contract sales, retail studios, as well as its online stores and global e-commerce platforms.

TypePublic
Founded1905
HQZeeland, MI, USMap
Websitehermanmiller.com
Employee Ratings3.9More
Overall CultureB+More
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Latest Updates

Employees (est.) (Jun 2019)8,000(+5%)
Job Openings72
Revenue (FY, 2020)$2.5 B(-3%)
Share Price (Jul 2021)$44.6
Cybersecurity ratingCMore

Key People/Management at Herman Miller

Andrea Owen

Andrea Owen

Director, President and Chief Executive Officer
Jeffrey Stutz

Jeffrey Stutz

Executive Vice President and Chief Financial Officer
Ben Watson

Ben Watson

Chief Creative Officer
Jeffrey Kurburski

Jeffrey Kurburski

Chief Technology Officer
Benjamin Groom

Benjamin Groom

Chief Digital Officer
Candace Matthews

Candace Matthews

Director
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Herman Miller Office Locations

Herman Miller has offices in Zeeland, Alexandria, São Paulo, Shanghai and in 9 other locations
Zeeland, MI, US (HQ)
855 E Main Ave
Alexandria, AU
2/90-96 Bourke Rd
São Paulo, BR
R. João Lourenço, 35
Shanghai, CN
Unit 2201, Block 2, 550 Jumen Rd, Huangpu Qu
Paris, FR
31 Rue Saint-Augustin
Hong Kong, HK
Rm 4707-13, 47/F, Hopewell Centre, 183 Queen's Rd E, Wan Chai
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Herman Miller Financials and Metrics

Herman Miller Revenue

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Herman Miller's revenue was reported to be $2.49 b in FY, 2020
USD

Revenue (Q3, 2021)

590.5m

Gross profit (Q3, 2021)

230.9m

Gross profit margin (Q3, 2021), %

39.1%

Net income (Q3, 2021)

43.3m

EBIT (Q3, 2021)

55.1m

Market capitalization (15-Jul-2021)

2.6b

Closing stock price (15-Jul-2021)

44.6

Cash (27-Feb-2021)

397.4m

EV

2.8b
Herman Miller's current market capitalization is $2.6 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

2.3b2.4b2.6b2.5b

Revenue growth, %

1%5%8%

Cost of goods sold

1.4b1.5b1.6b1.6b

Gross profit

864.2m873.0m929.9m910.7m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Revenue

598.6m577.5m524.9m580.3m604.6m578.4m624.6m652.6m619.0m670.9m674.2m665.7m626.8m626.3m590.5m

Cost of goods sold

368.6m359.5m329.4m363.4m382.5m372.6m399.5m417.0m398.0m424.8m418.7m422.4m376.8m382.1m359.6m

Gross profit

230.0m218.0m195.5m216.9m222.1m205.8m225.1m235.6m221.0m246.1m255.5m243.3m250.0m244.2m230.9m

Gross profit Margin, %

38%38%37%37%37%36%36%36%36%37%38%37%40%39%39%
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Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

96.2m203.9m159.2m

Accounts Receivable

186.6m219.3m218.0m

Prepaid Expenses

43.3m

Inventories

152.4m162.4m184.2m197.3m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Cash

65.1m71.9m78.4m80.0m114.6m193.0m101.7m113.6m113.5m159.5m177.0m110.6m296.6m377.9m397.4m

Accounts Receivable

183.6m195.2m174.8m191.2m189.8m191.6m205.4m223.0m221.0m218.3m208.9m221.7m195.3m190.7m

Prepaid Expenses

37.7m43.7m29.1m26.8m35.1m

Inventories

146.2m150.3m155.7m166.9m172.2m169.4m163.8m178.5m191.9m181.2m184.4m200.5m186.5m
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Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

124.1m128.7m160.5m(14.4m)

Depreciation and Amortization

58.9m66.9m72.1m79.5m

Inventories

(29.9m)(12.4m)(31.9m)

Accounts Payable

(11.2m)16.0m500.0k(59.5m)
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021

Net Income

36.5m68.1m90.6m33.1m66.5m96.5m35.9m75.2m114.6m48.0m126.6m163.9m73.4m126.2m169.5m

Depreciation and Amortization

13.9m28.3m43.0m15.5m31.8m49.4m19.0m37.6m55.3m19.3m37.9m59.7m21.2m43.3m64.8m

Cash From Operating Activities

30.2m94.4m122.1m18.9m81.5m110.7m32.9m91.5m130.6m54.7m142.4m191.8m115.9m214.6m260.1m

Purchases of PP&E

(11.3m)(24.4m)(42.8m)
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USDQ1, 2017

Debt/Equity

0.4 x

Debt/Assets

0.2 x

Financial Leverage

2.3 x
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Herman Miller Operating Metrics

Herman Miller's Backlog was reported to be $411.2m in Q3, 2020.
FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017Q4, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018Q4, 2018FY, 2018Q1, 2019Q2, 2019Q3, 2019Q4, 2019FY, 2019Q1, 2020Q2, 2020Q3, 2020

Backlog

$322.2 m$320.1 m$341.1 m$313.3 m$323.5 m$320.5 m$318.9 m$331.6 m$322.6 m$332.1 m$356.9 m$341.7 m$344.5 m$346.4 m$396.1 m$387.8 m$394.2 m$399.9 m$400.6 m$411.2 m

Order Volume

$595.6 m$575.9 m$543.2 m$568.1 m$2.28 b$594.8 m$629.4 m$563.2 m$620.8 m$2.41 b$630.6 m$702.6 m$610.7 m$664.5 m$2.61 b$676.7 m$674.9 m$651.7 m

Studios

303031313132323232323333333636353535

Order Volume (North America)

$347.7 m$322.1 m$318.3 m$311.6 m$1.29 b$334.8 m$341.1 m$294.7 m$323.5 m$1.29 b$345 m$370.6 m$314.2 m$440.5 m$1.71 b$468.2 m$435.3 m$405.9 m
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Herman Miller Acquisitions / Subsidiaries

Company NameDateDeal Size
Maars Living WallsJune 06, 2018
Design Within ReachJuly 17, 2014$154 m
Maharam Fabric CorporationApril 24, 2013$156 m
POSH Office SystemsApril 03, 2012$50 m
NemschoffJanuary 31, 2011$63 m
Colebrook Bosson SaundersMarch 30, 2010
Brandrud Furniture
Colebrook Bosson & Saunders Products Limited
Geiger International
Hemiri
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Herman Miller Revenue Breakdown

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Herman Miller revenue breakdown by business segment: 15.1% from Retail, 19.2% from International Contract and 65.7% from North America Contract

Herman Miller revenue breakdown by geographic segment: 27.3% from International and 72.7% from United States

Human Capital Metrics

Source: www.hermanmiller.com
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Herman Miller Cybersecurity Score

Cybersecurity ratingPremium dataset

C

78/100

Learn more about our premium products
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Herman Miller Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

60-79

out of 100

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Herman Miller Online and Social Media Presence

Herman Miller's Trends

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Herman Miller Company Culture

  • Overall Culture

    B+

    72/100

  • CEO Rating

    A-

    74/100

  • Compensation

    B+

    77/100

  • Diversity

    A+

    81/100

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Herman Miller News and Updates

July 14, 2021

Office Furniture Market in the US|Evolving Opportunities with Haworth Inc. and Herman Miller Inc.|Technavio

NEW YORK, July 13, 2021 /PRNewswire/ -- The office furniture market in the US is set to grow by USD 3.14 billion, progressing at a CAGR of 4.07% during 2021-2025. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall...
June 22, 2021

Herman Miller Names Experienced Financial Executive Mike R. Smith to Board of Directors

ZEELAND, Mich., June 22, 2021 /PRNewswire/ -- Herman Miller (NASDAQ: MLHR) announced today the unanimous action by the Board of Directors to appoint Mike R. Smith to the Board of Directors and the Audit Committee of the Board of Directors, effective June 21, 2021. Smith is Executive Vice...
June 15, 2021

Only 4.8% of designers are Black. Herman Miller, Adobe, and Gap unveil a plan to change that

Nearly two dozen companies are pledging to bring equity to design through the newly launched Diversity in Design Collaborative. Design is a particularly white profession. Depending on the poll, only 3% to 4.8% of designers are Black. But a powerful new collective of design companies is looking to c…
April 20, 2021

: Herman Miller and Knoll to merge in $1.8 billion deal that will create design leader as companies reimagine office

Herman Miller Inc. and Knoll Inc. said Monday they have agreed to combine in a cash-and-stock deal valued at $1.8 billion that will create a leader in modern design for the office and home just as the pandemic has companies reimagining office life and workers investing in work-from-home stations. …
April 19, 2021

Iconic Design Brands Herman Miller And Knoll Join Ranks

No two companies have so influenced the 20th Century contemporary design as have the iconic brands Herman Miller and Knoll.
April 19, 2021

Knoll market cap surges by a third on news of Herman Miller deal

Knoll market cap surges by a third on news of Herman Miller deal
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 Herman Miller Frequently Asked Questions

  • When was Herman Miller founded?

    Herman Miller was founded in 1905.

  • Who are Herman Miller key executives?

    Herman Miller's key executives are Andrea Owen, Jeffrey Stutz and Ben Watson.

  • How many employees does Herman Miller have?

    Herman Miller has 8,000 employees.

  • What is Herman Miller revenue?

    Latest Herman Miller annual revenue is $2.5 b.

  • What is Herman Miller revenue per employee?

    Latest Herman Miller revenue per employee is $310.8 k.

  • Who are Herman Miller competitors?

    Competitors of Herman Miller include Steelcase, Knoll and Kimball International.

  • Where is Herman Miller headquarters?

    Herman Miller headquarters is located at 855 E Main Ave, Zeeland.

  • Where are Herman Miller offices?

    Herman Miller has offices in Zeeland, Alexandria, São Paulo, Shanghai and in 9 other locations.

  • How many offices does Herman Miller have?

    Herman Miller has 14 offices.