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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 Ratings3.8More
Overall CultureBMore

Recent NewsAll News

Latest Updates

Employees (est.) (Jun 2019)8,000(+5%)
Revenue (FY, 2020)$2.5 B(-3%)
Share Price (Jan 2021)$35.7
Cybersecurity ratingBMore

Key People/Management at Herman Miller

Andrea Owen

Andrea Owen

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

Chief Reputation Officer, Amway
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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 (Q2, 2021)

626.3m

Gross profit (Q2, 2021)

244.2m

Gross profit margin (Q2, 2021), %

39%

Net income (Q2, 2021)

52.8m

Market capitalization (19-Jan-2021)

2.1b

Closing stock price (19-Jan-2021)

35.7

Cash (28-Nov-2020)

377.9m

EV

2.3b
Herman Miller's current market capitalization is $2.1 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, 2021

Revenue

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

Cost of goods sold

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

Gross profit

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

Gross profit Margin, %

38%38%37%37%37%36%36%36%36%37%38%37%40%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, 2021

Cash

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

Accounts Receivable

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

Prepaid Expenses

37.7m43.7m29.1m26.8m

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, 2021

Net Income

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

Depreciation and Amortization

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

Cash From Operating Activities

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

Purchases of PP&E

(11.3m)(24.4m)
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USDQ1, 2017

Debt/Equity

0.4 x

Debt/Assets

0.2 x

Financial Leverage

2.3 x
Show all financial metrics

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

$322.20 m$320.10 m$341.10 m$313.30 m$323.50 m$320.50 m$318.90 m$331.60 m$322.60 m$332.10 m$356.90 m$341.70 m$344.50 m$346.40 m$396.10 m$387.80 m$394.20 m$399.90 m$400.60 m$411.20 m

Order Volume

$595.60 m$575.90 m$543.20 m$568.10 m$2.28 b$594.80 m$629.40 m$563.20 m$620.80 m$2.41 b$630.60 m$702.60 m$610.70 m$664.50 m$2.61 b$676.70 m$674.90 m$651.70 m

Studios

30 30 31 31 31 32 32 32 32 32 33 33 33 36 36 35 35 35

Order Volume (North America)

$347.70 m$322.10 m$318.30 m$311.60 m$1.29 b$334.80 m$341.10 m$294.70 m$323.50 m$1.29 b$345 m$370.60 m$314.20 m$440.50 m$1.71 b$468.20 m$435.30 m$405.90 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

B

80/100

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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

    71/100

  • CEO Rating

    A-

    75/100

  • Compensation

    B-

    69/100

  • Diversity

    A-

    78/100

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Herman Miller News and Updates

January 20, 2021

This Herman Miller face mask is designed to fight modern slavery

The mask is inspired by architecture, and it’s designed to raise awareness and funds to combat modern slavery in global design supply chains. So you can’t afford an iconic Herman Miller Eames lounge chair. The good news is you can treat yourself to the esteemed mid-century modern furniture company’…
November 10, 2020

Is your home office chair destroying your body? Herman Miller wants to help

Herman Miller’s new store brings in ergonomic experts to let you try before you buy. While the pandemic has forced many stores to shut their doors, the 115-year-old design firm Herman Miller is going in the opposite direction. Next week, it will open two 1,500-square-foot stores in Los Angeles and …
November 03, 2020

Insights on the Office Furniture Global Market to 2024 - Featuring Steelcase, Herman Miller, HNI & Okamura Among Others

Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The "Global Office Furniture Market: Size & Forecasts with Impact Analysis of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.
September 17, 2020

Shares of furniture retailer Herman Miller soar 33% as home office sales surge

Herman Miller reported fiscal first quarter earnings per share of $1.24, blowing past the earnings of 26 cents per share expected by Wall Street, according to Refinitiv.
September 17, 2020

Thinking about buying stock in Sorrento Therapeutics, Herman Miller, iBio Inc, TOP Ships, or Aurora Cannabis?

NEW YORK, Sept. 17, 2020 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for SRNE, MLHR, IBIO, TOPS, and ACB. To see how InvestorsObserver's proprietary scoring system rates these stocks, view the InvestorsObserver's PriceWatch Alert by selecting the corresponding link....
July 22, 2020

The Herman Miller x Logitech gaming chair will set you back $1,500

I’ve learned a lot during this pandemic. About myself, about the world. But perhaps most important of all, I’ve learned the value of a good chair. In normal years I’m rarely home, between work and travel, and as such it’s not something I gave much thought to. So naturally, I spent the first month an…
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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.