Steelcase is a global workplace-furnishings company whose reported scale can be measured through revenue, regional operations, employees, manufacturing, dealer coverage, research spending and sustainability indicators. The figures below use Steelcase fiscal years ending in February unless another period is stated, and distinguish observed results from company targets, valuation assumptions and transaction proposals.
Key Steelcase Statistics
The following highlights summarize distinct measures across Steelcase’s finances, workforce, footprint and environmental reporting:
- Steelcase reported $3,159.6 million in consolidated revenue in FY2025.
- Steelcase reported $158.1 million in consolidated operating income in FY2025.
- Steelcase reported $120.7 million in net income in FY2025.
- Steelcase’s FY2025 basic EPS was $1.02 per share for common stock.
- The Americas represented 77.9% of Steelcase consolidated revenue in FY2025.
- Americas revenue was $2,419.8 million in FY2025.
- International revenue was $739.8 million in FY2025.
- No individual industry represented more than 18% of Americas segment revenue in FY2025.
- Americas customers were served through approximately 380 dealer locations in FY2025.
- International customers were served through approximately 400 dealer locations in FY2025.
- Steelcase had approximately 11,300 employees worldwide on February 28, 2025.
- Approximately 6,600 employees worked in manufacturing and distribution worldwide on February 28, 2025.
- Steelcase had approximately 1,100 temporary workers, primarily in manufacturing, on February 28, 2025.
- Americas operating margin was 7.4% in FY2025.
- Operational carbon emissions fell 30% from the FY2020 base year in the FY2024 report.
- Steelcase-branded packaging averaged 40% recycled content in the FY2024 report.
- Steelcase reported a 35% average embodied-carbon reduction across key Americas task chairs in its FY2025 update.
- The FY2025 HNI transaction snapshot reported 15 global manufacturing facilities and service in 80 countries.
Contents
- Revenue, profit and financial trends
- Regional revenue, customer mix and dealer network
- Employees, manufacturing and restructuring
- Research, design and innovation data
- Sustainability, carbon, packaging and materials
- The 2025 HNI transaction proposal
Steelcase Revenue, Profit and Financial Trends
Steelcase’s consolidated revenue was $3,232.6 million in FY2023, $3,159.6 million in FY2024 and $3,159.6 million in FY2025. These are reported company figures in USD millions for Steelcase’s consolidated business, not estimates of the wider office-furniture market.
| Measure | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $3,232.6 million | $3,159.6 million | $3,159.6 million |
| Gross profit | $919.4 million | $1,012.4 million | — |
| Operating income | $65.5 million | $117.8 million | $158.1 million |
| R&D expense | $44.4 million | $48.2 million | $50.4 million |
Source: Steelcase Inc. 2025 Form 10-K. Gross profit is supplied for FY2023 and FY2024; no FY2025 gross-profit figure is stated here.
FY2025 net income was $120.7 million, while basic EPS was $1.02 per share for Steelcase common stock. Adjusted operating income was $158.4 million, but this is a non-GAAP measure that excludes specified amortization, restructuring and land-sale effects.
R&D expense rose to $50.4 million in FY2025, compared with $48.2 million in FY2024 and $44.4 million in FY2023. The R&D figures indicate reported spending by the consolidated company, not a measure of product success or customer outcomes.
Steelcase Regional Revenue, Customer Mix and Dealer Network
The Americas was Steelcase’s larger reported segment in FY2025, with $2,419.8 million in revenue and 77.9% of consolidated revenue. International revenue was $739.8 million, covering the company’s international segment as reported.
| FY2025 segment measure | Americas | International |
|---|---|---|
| Revenue | $2,419.8 million | $739.8 million |
| Operating result | $182.8 million income | $24.7 million loss |
| Dealer locations | Approximately 380 | Approximately 400 |
| Operating margin | 7.4% | Not supplied |
Source: Steelcase Inc. 2025 Form 10-K. The dealer-location counts are approximate, and the international operating result is a loss rather than income.
Americas revenue increased $45.4 million year over year in FY2025. The company attributed approximately 3% growth to Americas volume, including the additional week in the current year, and 1% growth to pricing.
Customer concentration was limited at the industry level in the Americas: no industry represented more than 18% of segment revenue in FY2025. In the international segment, the largest independent dealer represented approximately 4% of segment revenue, while the five largest independent dealers represented approximately 10%.
Americas operating income was $143.8 million in FY2024 and $182.8 million in FY2025. International operating loss was $26.0 million in FY2024 and $24.7 million in FY2025; these segment results should not be treated as directly comparable to consolidated net income.
Steelcase Employees, Manufacturing and Restructuring Statistics
On February 28, 2025, Steelcase reported approximately 11,300 employees worldwide. Approximately 6,600 worked in manufacturing and distribution, approximately 250 were part-time, and approximately 1,100 temporary workers were employed, primarily in manufacturing.
The reported labor representation differed by geography. Approximately 30 U.S. employees were covered by collective bargaining agreements, while approximately 3,600 non-U.S. employees were represented by unions or workers’ councils.
FY2025 restructuring and realignment actions covered several groups and locations:
- About 100 positions were involved in an Americas operations realignment.
- About 70 Asia Pacific positions were involved in restructuring.
- About 30 salaried Orangebox roles were involved in restructuring.
- About 20 positions were involved in an EMEA distribution-center closure.
- In an Americas distribution-center move, about 55 positions were terminated and 15 were relocated.
Source: Steelcase Inc. 2025 Form 10-K. These are company-reported FY2025 actions and positions, not a single worldwide headcount reduction.
Earlier FY2024 actions included approximately 40–50 EMEA salaried roles, an estimated company-reported range, about 240 Asia Pacific positions, and about 30 Americas employees tied to an Atlanta distribution-center closure. The earlier actions are reported separately from FY2025 actions and should not be combined into an unsupported cumulative total.
Steelcase Research, Design and Innovation Data
Steelcase’s reported R&D expense increased across the supplied periods, from $44.4 million in FY2023 to $48.2 million in FY2024 and $50.4 million in FY2025. R&D spending is an input measure; it does not by itself quantify the number of products, patents, designs or customer improvements.
The company’s FY2025 goodwill evaluation used nine reporting units. Its discounted-cash-flow analysis used discount rates from 11% to 13%, which are valuation assumptions rather than observed market returns or product-performance outcomes.
| Innovation-related measure | Reported value | Definition or limitation |
|---|---|---|
| R&D expense, FY2023 | $44.4 million | Consolidated Steelcase expense |
| R&D expense, FY2024 | $48.2 million | Consolidated Steelcase expense |
| R&D expense, FY2025 | $50.4 million | Consolidated Steelcase expense |
| Goodwill evaluation units, FY2025 | 9 | Reporting units |
| DCF discount rates, FY2025 | 11%–13% | Valuation assumption |
Source: Steelcase Inc. 2025 Form 10-K.
Americas operating margin was 3.2% in FY2023, 5.9% in FY2024 and 7.4% in FY2025. This is a segment profitability measure, not a direct measure of innovation adoption or product quality.
Steelcase Sustainability Statistics: Carbon, Packaging and Materials
Steelcase’s FY2024 Impact Report states that operational carbon emissions fell 30% over four years, measured against a FY2020 base year. The company targets a 50% operational-emissions reduction by 2030 and more than 90% value-chain emissions reduction by 2050; both are company targets, not achieved results.
Packaging and product-material measures include the following:
- Steelcase-branded packaging averaged 40% recycled content in the FY2024 report.
- The company’s packaging goal is 75% recycled content by 2030 for single-use Steelcase-branded packaging; this is a target.
- Steelcase purchased 24% less plastic packaging in FY2024 than in FY2023.
- Corrugated cardboard for screens was reduced by 87% in the cited product-packaging example, which does not represent all packaging.
- Coalesse Ensemble lounge bases in EMEA used 60% recycled aluminum in the cited product component and market.
- Steelcase reported a 35% average embodied-carbon reduction across key Americas task chairs in its FY2025 update; this is a company-reported portfolio average.
Source: Steelcase Impact Report 2024: Our Work Toward Better Futures. Sustainability measures describe Steelcase operations, packaging or specified products and should not be generalized to the entire office-furniture industry.
Steelcase Statistics from the 2025 HNI Transaction Proposal
A presentation filed in connection with the 2025 HNI transaction proposal reported a snapshot of Steelcase’s scale. It listed $3.2 billion in trailing-twelve-month revenue as of May 30, 2025, $266 million in trailing-twelve-month adjusted EBITDA, 15 global manufacturing facilities and service in 80 countries.
| Transaction snapshot measure | Reported value | Period or status |
|---|---|---|
| Steelcase revenue | $3.2 billion | TTM as of 2025-05-30 |
| Adjusted EBITDA | $266 million | TTM as of 2025-05-30; non-GAAP |
| Manufacturing facilities | 15 | FY2025 snapshot |
| Countries served | 80 | FY2025 snapshot |
Source: HNI Corporation presentation: Steelcase at a Glance and Transaction Highlights. The TTM adjusted EBITDA figure is non-GAAP and is presented separately from Steelcase’s Form 10-K operating-income and net-income measures.
The proposed consideration for Steelcase shareholders was approximately $2.2 billion in the August 4, 2025 announcement. The proposed mix was 61% HNI stock and 39% cash; these were proposal terms subject to conditions and closing, not realized transaction results.
The same transaction materials presented Steelcase standalone adjusted EBITDA as $266 million for the trailing twelve months ended May 30, 2025. HNI transaction synergies, valuation and pro forma measures are estimates or forecasts rather than realized results.