KBAL on NASDAQ

Kimball International

Logo: Kimball International, Public domain, via Wikimedia Commons5

American furniture manufacturer

Kimball International, Inc. is an American company which consists of furniture brands: Kimball, National, Interwoven, Etc., David Edward, D'Style and Kimball Hospitality. It is the successor to W.W. Kimball and Company, the world's largest piano and organ manufacturer at certain times in the 19th and 20th centuries. On March 8, 2023, HNI Corporation entered into an agreement to purchase Kimball International.3 It was founded by Arnold Habig.1 Its shares trade on NASDAQ under the symbol KBAL.1 Wikipedia text CC BY-SA 4.0

Price unavailable

Last updated Oct 21, 2026.

Overview

$665.9MRevenue, fiscal 20226
-$15.7MNet income, fiscal 20226
1950Founded1

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  • TickerKBAL on NASDAQ1
  • Industryfurniture industry1
  • HeadquartersJasper1
  • Websitewww.kimballinternational.com/home
  • Incorporated inIN7
  • Business address1600 Royal St, Jasper, In 47546-22567
  • Filer categoryAccelerated filer7
  • Legal formFor-Profit Corporation4
  • LEI549300RYF7HKL9SKYG254
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressC/O CORPORATION SERVICE COMPANY, 46204 Indianapolis, United States4
  • Registered withBusiness Services Division (Secretary of State), 194023-0534

Kimball International, Inc. is an American company which consists of furniture brands: Kimball, National, Interwoven, Etc., David Edward, D'Style and Kimball Hospitality. It is the successor to W.W. Kimball and Company, the world's largest piano and organ manufacturer at certain times in the 19th and 20th centuries.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

31.7%Gross margin6
-2.1%Operating margin6
-2.4%Net margin6
17.0%Revenue growth, 20226
-7.4%Return on equity6
0.32×Debt to equity6
-$25.8MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Cost of revenue68¢$454.6M
  • Selling, general and admin30¢$202.3M
  • Other costs1¢$5.8M
  • Interest0¢$1.5M
  • Income tax0¢$1.7M

Out of $665.9M in revenue.6 The company lost money this year.

Financial statements

Revenue9101112136$665.9M in 2022+11% since 2015
0$200.0M$400.0M$600.0M$800.0M2015: $600.9M$600.9M20152016: $635.1M$635.1M2016+6%2017: $693.0M$693.0M2017+9%2018: $704.6M$704.6M2018+2%2019: $768.1M$768.1M2019+9%2020: $727.9M$727.9M2020−5%2021: $569.0M$569.0M2021−22%2022: $665.9M$665.9M2022+17%
Gross profit9101112136$211.3M in 2022+12% since 2015
0$100.0M$200.0M$300.0M2015: $188.9M$188.9M20152016: $203.8M$203.8M2016+8%2017: $237.9M$237.9M2017+17%2018: $235.6M$235.6M2018−1%2019: $254.6M$254.6M2019+8%2020: $250.8M$250.8M2020−1%2021: $182.4M$182.4M2021−27%2022: $211.3M$211.3M2022+16%
Operating income9101112136-$14.0M in 2022
-$20.0M0$20.0M$40.0M$60.0M2015: $17.3M$17.3M20152016: $33.5M$33.5M2016+93%2017: $56.7M$56.7M2017+69%2018: $51.1M$51.1M2018−10%2019: $49.5M$49.5M2019−3%2020: $54.4M$54.4M2020+10%2021: $1.5M$1.5M2021−97%2022: -$14.0M-$14.0M2022
Net income9101112136-$15.7M in 2022
-$20.0M0$20.0M$40.0M$60.0M2015: $20.3M$20.3M20152016: $21.2M$21.2M2016+4%2017: $37.5M$37.5M2017+77%2018: $34.4M$34.4M2018−8%2019: $39.3M$39.3M2019+14%2020: $41.1M$41.1M2020+4%2021: $7.4M$7.4M2021−82%2022: -$15.7M-$15.7M2022
Fiscal year20152016201720182019202020212022
Revenue$600.9M9$635.1M10$693.0M11$704.6M12$768.1M13$727.9M6$569.0M6$665.9M6
Cost of revenue$412.0M9$431.3M10$455.1M11$468.9M12$513.5M13$477.1M6$386.6M6$454.6M6
Gross profit$188.9M9$203.8M10$237.9M11$235.6M12$254.6M13$250.8M6$182.4M6$211.3M6
Selling, general and admin$166.3M9$163.0M10$183.0M11$184.6M12$204.1M13$187.9M6$181.8M6$202.3M6
Operating income$17.3M9$33.5M10$56.7M11$51.1M12$49.5M13$54.4M6$1.5M6-$14.0M6
Interest$24.0K9$22.0K10$37.0K11$221.0K12$174.0K13$79.0K6$453.0K6$1.5M6
Income before tax-$17.4M6
Income tax$6.5M9$12.2M10$20.5M11$17.9M12$12.3M13$15.1M6-$2.8M6-$1.7M6
Net income$20.3M9$21.2M10$37.5M11$34.4M12$39.3M13$41.1M6$7.4M6-$15.7M6
Earnings per share$0.5610$1.0011$0.9212$1.0713$1.116$0.206-$0.436
Earnings per share (diluted)$0.5610$0.9911$0.9212$1.0613$1.116$0.206-$0.436
Shares (weighted, basic)36.8M shares6
Shares (weighted, diluted)36.8M shares6

Compare Kimball International with another company

Corporate structure

Kimball International is part of a group headed by HNI Corporation. 17 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Kimball International

  • DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on Kimball International, latest Feb 9, 2024 (3 filings since Feb 8, 2022)
  • VANGUARD GROUP INC Filed SC 13G/A on Kimball International, latest Feb 9, 2023 (2 filings since Feb 10, 2022)
  • BlackRock Filed SC 13G on Kimball International, latest Jan 24, 2023 (3 filings since Jan 25, 2022)
  • RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on Kimball International, latest Feb 10, 2022
  • HNI Corporation Muscatine, Iowa, United States
    • Kimball International Jasper, Indiana, United States
    • Allsteel LLC Subsidiary · Illinois, United States
    • Design Holdings Inc. Subsidiary · Iowa, United States
    • Hearth & Home Technologies LLC Subsidiary · Iowa, United States
    • HNI Holdings Inc. Subsidiary · Iowa, United States
    • HNI Services LLC Subsidiary · Iowa, United States
    • HNI Technologies Inc. Subsidiary · Iowa, United States
    • HNI Workplace Furnishings LLC Subsidiary · Iowa, United States
    • Kimball Furniture Group, LLC Subsidiary · Indiana, United States
    • Kimball Hospitality, Inc. Subsidiary · Indiana, United States
    • Kimball International Brands, Inc. Subsidiary · Indiana, United States
    • Steelcase Holding SAS Subsidiary · France
    • STEELCASE IDF Subsidiary · Paris, France
    • Steelcase SAS Subsidiary · France
    • The Gunlocke Company LLC Subsidiary · Iowa, United States
    • The HON Company LLC Subsidiary · Iowa, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Kimball International reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$285.5M6 Jun 30, 2022$282.4M6 Jun 30, 2021+1.1%
Accumulated depreciation$188.5M6 Jun 30, 2022$191.8M6 Jun 30, 2021−1.7%
Property and equipment, net$97.0M6 Jun 30, 2022$90.6M6 Jun 30, 2021+7.0%
Operating-lease assets (leased space)$12.8M6 Jun 30, 2022$14.7M6 Jun 30, 2021−12.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$10.9M6 Jun 30, 2022$24.3M6 Jun 30, 2021−55.1%
Marketable securities, current$013 Jun 30, 2021$5.3M13 Jun 30, 2020−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$47.8M6 Jun 30, 2022$82.0M6 Jun 30, 2021−41.6%
Indefinite-lived intangibles (excluding goodwill)$06 Jun 30, 2022$013 Jun 30, 2021
Finite-lived intangibles, gross$109.3M6 Jun 30, 2022$106.3M6 Jun 30, 2021+2.9%
Accumulated amortization$54.6M6 Jun 30, 2022$41.8M6 Jun 30, 2021+30.5%
Finite-lived intangibles, net$54.8M6 Jun 30, 2022$64.5M6 Jun 30, 2021−15.1%

Inventory

ItemLatestA year beforeChange
Inventory, total$98.0M6 Jun 30, 2022$54.3M6 Jun 30, 2021+80.5%
Raw materials$52.9M6 Jun 30, 2022$33.4M6 Jun 30, 2021+58.2%
Work in process$2.0M6 Jun 30, 2022$1.3M6 Jun 30, 2021+49.5%
Finished goods$66.9M6 Jun 30, 2022$37.8M6 Jun 30, 2021+77.0%

The story

Founded by Arnold Habig in 1950.1

Kimball Piano and Organ

This division started as a piano dealership in Chicago in 1857 as W.W. Kimball and Company by William Wallace Kimball (1828–1904). In 1864, Kimball moved from its earliest location in the corner of a jewelry store to sales rooms in the Crosby Opera House where Kimball sold pianos made by East Coast piano makers Chickering and Sons and others. Kimball also sold less expensive reed organs. The Great Chicago Fire destroyed all of Kimball's commercial assets in 1871, but he continued selling from his home, and rebuilt his dealership business.

In 1877, W.W. Kimball began assembling its own reed organs, using actions made by the J.G. Earhuff Company and cases made by contractors. After three years, the company began offering organs made entirely in house. In 1882, the Kimball company was incorporated, and an expansive factory was built to produce reed organs. Soon, the factory was producing 15,000 organs a year; the world's largest organ maker. Kimball stopped making reed organs in 1922 after having produced 403,390 instruments.

In 1887, Kimball began building a five-story factory for making its own pianos, and the next year produced 500 instruments of unremarkable quality. Kimball hired veterans from Steinway & Sons and C. Bechstein Pianofortefabrik, and these men initiated improvements to the piano line. By 1893 at the World's Columbian Exposition, at which Kimball received the "Worlds Columbian Exposition Award", Kimball was known for high quality, efficiency in manufacture, and aggressive sales practices using 35–40 traveling salesmen to cover cities and remote areas. Prominent East Coast piano makers snubbed the Chicago exposition because they feared Chicago favoritism, and because of philosophical differences between their reliance on traditional name brand faithfulness and Kimball's streamlined modern efficiency which greatly threatened their sales.In 1890, Kimball hired Englishman Frederic W. Hedgeland, trained at his family's organworks in London: W.M. Hedgeland. Hedgeland supervised a portable pipe organ design about the size of a large upright piano. The pipe organ division of Kimball also built large, permanent pipe organs, including one for the Mormon Tabernacle in 1901. When the pipe organ division was closed down in 1942, some 7,326 models had been built.

Kimball was involved in making player pianos, the first effort being an automatic mechanism in 1901. As well, from 1916 to 1929, Kimball produced an attractive line of cabinet phonographs. The company built a new building, the Kimball Building, in 1916. It is now the Lewis Center at DePaul University.

During World War II, Kimball produced aircraft parts for major military airplane manufacturers such as Boeing, Douglas and Lockheed. After the war, piano production resumed but a series of poor financial decisions by W.W. Kimball Jr led the company into decline. In the mid-1950s, Kimball built a luxurious new factory in the Chicago suburb of Melrose Park, Illinois, but the factory's high costs, its poor performance, and flagging sales brought the company into grave financial crisis. Kimball had slipped from being the world's largest piano maker to the seventh largest, and it was nearly insolvent.

In 1959, the W.W. Kimball Company was purchased from the last remaining Kimball family heir by Arnold Habig, becoming a wholly owned subsidiary of The Jasper Corporation which began operations in 1950 and founded by Mr. Arnold F. Habig. The combined company was later renamed Kimball International.

Piano production was relocated to the small, southern Indiana town of West Baden, Indiana, where the company was rejuvenated and once again began to grow. Ten years after the purchase, Kimball was once again the world's largest piano company.

Jasper Corporation to Kimball International

The Jasper Corporation was founded in 1950 in Jasper, Indiana, by Mr. Arnold Habig to make television cabinets, cabinets, and furniture. Jasper Corporation prospered from increasing television sales and from its investment in vertical integration, giving the company self-sufficiency. In 1959, Jasper, Inc., purchased the W. W. Kimball Company as a wholly owned subsidiary. Jasper moved its Kimball piano manufacturing to West Baden Springs in 1961. The first Indiana-made pianos were plagued with quality problems, but the issues were addressed and the pianos improved. In 1966, Jasper bought the Austrian piano maker Bösendorfer.

Read the full text

By 1969, Kimball had returned to its former position as the world's largest piano maker. The subsidiary made some 100,000 pianos and organs annually during its peak years in the 1960s and 1970s. On an average day 250 pianos and 150 electronic organs were shipped from the factory. Grand pianos from Kimball in Indiana ranged from compact 4-foot-5-inch (135 cm) models to larger 6-foot-7-inch (201 cm) models. In Vienna, the Bösendorfer division made concert grand pianos as large as 9 feet 6 inches (290 cm): the Imperial Bösendorfer. Kimball also made upright pianos in 42-inch (110 cm) and 46-inch (120 cm) sizes, but not smaller spinet models; a decision which allowed great profits to be made by competitors. However, Kimball produced inexpensive console pianos, between upright and spinet size, in a subsidiary plant across the Texas–Mexico border in Reynosa, doing business as Kimco.

Based on the success of piano and organ sales, Jasper determined to leverage the Kimball brand recognition to assist sales of office furniture, home furniture and electronics. Company leaders realized that the Kimball brand had far greater popular recognition than the Jasper brand, and in 1974, Jasper changed its name to Kimball International, going public in September 1976 with the initial public offering of 500,000 shares of common stock.

In 1980 Kimball International bought Krakauer Brothers, a New York piano maker founded in 1869, and Conn Keyboards, the piano and organ division of C.G. Conn ltd. The acquisitions were ill-timed, as piano and organ sales were in a long-term downward trend. In 1984, Kimball loaned 84 baby grands to the Los Angeles Olympic Organizing Committee for their use at the Los Angeles 1984 Olympic Opening Ceremony. In a section devoted to the Hollywood musical with George Gershwin's "Rhapsody in Blue" as the main theme, the 84 baby grands were rolled out under the arches of the L.A. Memorial Coliseum. Kimball operated Krakauer for five years in New York before closing the plant.

Because of a worldwide decline in piano and organ purchases through the 1980s and 1990s, the Kimball piano and organ subsidiary was discontinued in February 1996. The last Kimball grand piano was signed by every worker and company executives, and remains on display at Kimball's showroom in Jasper. The Bösendorfer piano brand continued unaffected, but was sold to Austrian buyers in 2002.

From Wikipedia’s article on Kimball International, shared under CC BY-SA 4.0.8

Leadership

Who has led Kimball International, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (40)

Products and brands

  • furniture

Listed on Wikidata.1

Acquisitions

  1. Succeeded W.W. Kimball and Company1

Timeline

  1. Jun 1, 20238-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer67
  2. May 24, 20238-K Other events68
  3. May 4, 20238-K Results of operations69
  4. Apr 21, 20238-K Other events70
  5. Mar 10, 20238-K Entered a material agreement; Bylaws or fiscal year changed71
  6. Mar 8, 20238-K Other events72
  7. Feb 2, 20238-K Results of operations; Regulation FD disclosure73
  8. Dec 22, 20228-K Entered a material agreement; New debt or obligation74
  9. Dec 5, 20228-K Other events75
  10. Nov 3, 20228-K Results of operations; Regulation FD disclosure76
  11. Oct 25, 20228-K Shareholder vote77
  12. Aug 4, 20228-K Results of operations; Regulation FD disclosure78
  13. Nov 2, 2018New chief executive Kristine L. Juster becomes CEO18
  14. Dec 18, 2014New chief executive Robert F. Schneider becomes CEO19
  15. Feb 15, 2006New chief executive James C. Thyen becomes CEO20
  16. Jan 3, 1994Went public Listed on NASDAQ1
  17. 1950Founded Founded1

Calendar

When it reported results

  1. May 4, 2023Reported quarterly or annual results69
  2. Feb 2, 2023Reported quarterly or annual results73
  3. Nov 3, 2022Reported quarterly or annual results76
  4. Aug 4, 2022Reported quarterly or annual results78
  5. May 3, 2022Reported quarterly or annual results79
  6. Feb 3, 2022Reported quarterly or annual results80
  7. Nov 4, 2021Reported quarterly or annual results81

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

157 filings to the SEC since October 2021: 1 annual reports, 6 quarterly reports, 17 major events, 89 insider forms, 9 large holders, 35 other. The latest 20:

  1. Feb 9, 2024SC 13G/A SEC SCHEDULE 13G EDGAR
  2. Jun 12, 202315-12G EDGAR
  3. Jun 1, 202325-NSE EDGAR
  4. Jun 1, 2023S-8 POS EDGAR
  5. Jun 1, 2023S-8 POS EDGAR
  6. Jun 1, 2023S-8 POS EDGAR
  7. Jun 1, 2023S-8 POS EDGAR
  8. Jun 1, 20238-K EDGAR
  9. Jun 1, 20234 EDGAR
  10. Jun 1, 20234 EDGAR
  11. Jun 1, 20234 EDGAR
  12. Jun 1, 20234 EDGAR
  13. Jun 1, 20234 EDGAR
  14. Jun 1, 20234 EDGAR
  15. Jun 1, 20234 EDGAR
  16. Jun 1, 20234 EDGAR
  17. Jun 1, 20234 EDGAR
  18. Jun 1, 20234 EDGAR
  19. Jun 1, 20234 EDGAR
  20. Jun 1, 20234 EDGAR

The 157 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

3 open-market trades by officers, directors and large owners since October 2021: 3 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Feb 16, 2022WOLFE TIMOTHY JEVP & CFOBuy5,000$9.47$47.4KForm 4
Nov 29, 2021WOLFE TIMOTHY JEVP & CFOBuy5,000$10.59$53.0KForm 4
Nov 17, 2021WOLFE TIMOTHY JEVP & CFOBuy5,000$10.99$55.0KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$342.2M 2008–2026
Without federal contracts$3.5K 2009–2009
Without federal contractsWithout federal contracts, 2009–2009: $3.5K in all. Other federal assistance $3.5K.$0$1K$2K$3K$4K2009 · Other federal assistance: $3.5K2009
Figures by year
YearOther federal assistanceFederal contractsTotal
2026–$3.1M$3.1M
2025–$2.0M$2.0M
2024–$7.9M$7.9M
2023–$10.7M$10.7M
2022–$6.7M$6.7M
2021–$10.3M$10.3M
2020–$12.5M$12.5M
2019–$11.6M$11.6M
2018–$10.9M$10.9M
2017–$9.7M$9.7M
2016–$15.2M$15.2M
2015–$13.7M$13.7M
2014–$27.6M$27.6M
2013–$15.0M$15.0M
2012–$10.5M$10.5M
2011–$34.5M$34.5M
2010–$50.6M$50.6M
2009$3.5K$44.3M$44.3M
2008–$45.6M$45.6M

Federal awards

Obligated amounts from USAspending.gov86, by calendar year, 2008–2026, for its registration. Obligations are what agencies committed, not always what was paid out. Contracts pay for goods and services; grants, loans and direct payments are assistance. Loans are charted at the face value of the loans listed here. An award’s amount below is its lifetime total, and some began before the years charted.

Largest contracts

  1. Sep 25, 2013$13.5M from Federal Acquisition Service: Design, project management, furniture and installation for the fbi miami field office.87 To KIMBALL INTERNATIONAL INC Award GST3113BU0105
  2. Sep 25, 2017$9.1M from Centers for Disease Control and Prevention: Brfss phone sampling88 To KIMBALL INTERNATIONAL INC Award HHSD2002017F96124
  3. Sep 4, 2008$5.3M from Department of State: Office furniture89 To KIMBALL INTERNATIONAL INC Award SFSIAQ08F1927
  4. Oct 24, 2007$3.4M from Federal Acquisition Service: New systems and office furniture to furnish a new building90 To KIMBALL INTERNATIONAL INC Award GST0708BG0004
  5. Sep 9, 2015$3.1M from Department of State: Igf::ot::igf for other functions office furniture91 To KIMBALL INTERNATIONAL INC Award SFSIAQ15F0130

SEC filer profile

How Kimball International is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARKIMBALL INTERNATIONAL INC2
  • CIK0000055772
  • Employer ID (EIN)35-05145062
  • Filer statusAccelerated filer2
  • Incorporated inIndiana2
  • Fiscal year endsJune 302
  • Industry code (SIC)2510 Household Furniture2
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance2
  • Business address1600 Royal St, Jasper, IN 47546-22562
  • Mailing address1600 Royal Street, Jasper, IN 47546-22562
  • Phone81248216002
  • Public float$364.1M as of Dec 31, 20216
  • On EDGAR sinceFeb 3, 19942
  • Filings1,822 in all: 4 (1,139), 8-K (226), 10-Q (89), SC 13G/A (78), 425 (44), 3 (42), SC 13G (33), DEF 14A (29)2
    All 30 form types

    10-K (22), DEFA14A (16), 11-K (14), ARS (12), SD (10), UPLOAD (9), 10-K405 (7), 4/A (7), S-8 POS (7), CORRESP (6), S-8 (6), SC 13D/A (5), 10-12G/A (3), 5 (3), 8-K/A (3), SC 13D (3), 15-12G (2), 3/A (2), PRE 14A (2), 144 (1), 25-NSE (1), DEFM14A (1)

  • Latest filingsAnnual report (10-K) Aug 31, 2022
    Quarterly report (10-Q) May 8, 2023
    Proxy statement (DEF 14A) Sep 7, 2022
    Latest 8-K (8-K) Jun 1, 2023

Sources

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