ALH vs HNI: Alliance Laundry and HNI compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Alliance Laundry is the larger company, worth $4.0B, about 1.3 times HNI.
- HNI grew revenue faster over the last year (+120.7% vs +6.6%).
- Alliance Laundry keeps more of each dollar of revenue as operating profit (19.1% vs 2.0%).
- On earnings, Alliance Laundry is the cheaper stock (28.4x vs 163.4x).
- Alliance Laundry's price assumes faster free cash flow growth: about 8% a year, against 1% for HNI (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ALH | HNI |
|---|---|---|
| Market cap | $4.0B | $3.2B |
| Share price | $21.27 | $46.86 |
| Revenue (last fiscal year) | $1.7B | $2.8B |
| Free cash flow (last fiscal year) | $158M | $208M |
| Revenue growth, last year | +6.6% | +120.7% |
| Revenue growth per year, last 5 fiscal years | +11.9% | +6.8% |
| Operating margin | 19.1% | 2.0% |
| Net margin | 10.1% | 0.10% |
| Return on equity | 35.6% | 0.24% |
| P/E (trailing) | 28.4x | 163.4x |
| Price / free cash flow | 25.4x | 15.1x |
| EV / EBITDA | 14.4x | 21.8x |
| FCF growth the price implies | 8.1% | 1.4% |
| Dividend yield | — | 3.0% |
| Debt / equity | 4.86x | 1.67x |
| Fundamental grade | C | C |
| Superinvestors holding it | 1 | 1 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Alliance Laundry
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2023 | $1.4B | $176M | 17.3% |
| 2024 | $1.5B | $102M | 18.8% |
| 2025 | $1.7B | $158M | 18.6% |
HNI
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.2B | $65M | 3.9% |
| 2022 | $2.4B | $21M | 6.6% |
| 2023 | $2.4B | $188M | 3.7% |
| 2024 | $2.5B | $174M | 8.2% |
| 2025 | $2.8B | $208M | 4.4% |
Where the revenue comes from
Alliance Laundry · by products, 2025
Equipment, service parts and other$1.7B97%
Equipment financing$50M3%
HNI · by segments, 2025
Workplace Furnishings$2.2B76%
Residential Building Products$675M24%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ALH in InvestinglyQuestions
Which is bigger, Alliance Laundry or HNI?
Alliance Laundry (ALH), at $4.0B against $3.2B.
Is ALH or HNI cheaper?
By trailing P/E, Alliance Laundry (28.4x) is cheaper than HNI (163.4x). A lower multiple can also mean the market expects less growth.
Which grows faster, ALH or HNI?
HNI: revenue grew +120.7% over the last year, against +6.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.