MillerKnoll (MLKN) Financials

$18.21 -0.77 (-4.06%)

Closing price 08/1/2025 04:00 PM Eastern

Extended Trading

$18.54 +0.33 (+1.81%)

As of 08/1/2025 05:34 PM Eastern

Annual Income Statements for MillerKnoll

This table shows MillerKnoll's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	5/30/2015	5/28/2016	6/3/2017	6/2/2018	6/1/2019	5/30/2020	5/29/2021	5/28/2022	6/3/2023	6/1/2024	5/31/2025
Net Income / (Loss) Attributable to Common Shareholders	98	137	124	128	161	-8.70	175	-27	42	82	-37
Consolidated Net Income / (Loss)	98	138	124	129	161	-14	180	-20	46	85	-33
Net Income / (Loss) Continuing Operations	98	138	124	129	161	-14	180	-20	46	85	-33
Total Pre-Tax Income	145	197	178	168	195	-13	228	-8.60	51	100	-22
Total Operating Income	163	212	191	179	204	-38	233	40	122	167	51
Total Gross Profit	791	874	864	873	930	911	951	1,353	1,430	1,420	1,423
Total Revenue	2,142	2,265	2,278	2,381	2,567	2,487	2,465	3,946	4,087	3,628	3,670
Operating Revenue	2,142	2,265	2,278	2,381	2,567	2,487	2,465	3,946	4,087	3,628	3,670
Total Cost of Revenue	1,351	1,391	1,414	1,508	1,637	1,575	1,514	2,593	2,657	2,209	2,247
Operating Cost of Revenue	1,351	1,391	1,414	1,508	1,637	1,575	1,514	2,593	2,657	2,209	2,247
Total Operating Expenses	628	663	673	694	726	949	719	1,313	1,308	1,252	1,372
Selling, General & Admin Expense	544	586	588	615	639	643	644	1,204	1,126	1,112	1,134
Research & Development Expense	71	77	73	73	77	74	72	109	106	93	94
Impairment Charge	-	-	-	0.00	0.00	205	0.00	0.00	41	17	130
Restructuring Charge	13	0.00	13	5.70	10	26	2.70	0.00	34	31	15
Total Other Income / (Expense), net	-18	-15	-14	-11	-8.40	25	-4.20	-48	-71	-68	-72
Interest Expense	18	15	15	14	12	13	14	38	74	76	77
Interest & Investment Income	0.60	0.80	2.20	4.40	2.10	39	2.10	1.60	2.80	6.10	5.40
Other Income / (Expense), net	-1.30	-0.30	-0.50	-1.70	1.60	-1.00	7.60	-12	0.30	2.60	-1.10
Income Tax Expense	47	60	55	42	40	6.10	48	11	4.50	15	12
Other Gains / (Losses), net	0.10	0.40	1.60	3.00	5.00	5.00	-	0.00	-0.80	-0.40	0.30
Net Income / (Loss) Attributable to Noncontrolling Interest	0.60	0.80	0.20	0.60	0.00	-5.30	5.70	7.40	4.00	2.30	3.70
Basic Earnings per Share	$1.64	$2.28	$2.07	$2.15	$2.72	($0.15)	$2.96	($0.37)	$0.56	$1.12	($0.54)
Weighted Average Basic Shares Outstanding	59.48M	59.84M	59.87M	59.60M	59M	58.87M	59.05M	75.84M	75.70M	69.83M	67.81M
Diluted Earnings per Share	$1.62	$2.26	$2.05	$2.12	$2.70	($0.15)	$2.94	($0.37)	$0.55	$1.11	($0.54)
Weighted Average Diluted Shares Outstanding	59.48M	59.84M	59.87M	59.60M	59M	58.87M	59.05M	75.84M	75.70M	69.83M	67.81M
Weighted Average Basic & Diluted Shares Outstanding	59.48M	59.84M	59.87M	59.60M	59M	58.87M	59.05M	75.84M	75.70M	69.83M	67.81M

This table shows MillerKnoll's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	12/3/2022	3/4/2023	6/3/2023	9/2/2023	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025
Net Income / (Loss) Attributable to Common Shareholders	16	0.40	-0.10	17	34	22	9.90	-1.20	34	-13	-57
Consolidated Net Income / (Loss)	18	1.10	0.10	16	34	23	11	-0.50	35	-12	-56
Net Income / (Loss) Continuing Operations	18	1.10	0.10	16	34	23	11	-0.50	35	-12	-56
Total Pre-Tax Income	22	1.60	-5.50	21	44	28	6.80	-1.70	45	-101	36
Total Operating Income	39	21	12	40	60	43	24	15	63	-82	55
Total Gross Profit	368	336	355	358	372	337	352	336	377	332	377
Total Revenue	1,067	985	957	918	950	872	889	862	970	876	962
Operating Revenue	1,067	985	957	918	950	872	889	862	970	876	962
Total Cost of Revenue	699	649	602	560	578	535	537	525	593	544	585
Operating Cost of Revenue	699	649	602	560	578	535	537	525	593	544	585
Total Operating Expenses	329	314	343	318	312	294	329	321	315	415	322
Selling, General & Admin Expense	291	265	274	291	288	271	263	298	290	388	157
Research & Development Expense	23	24	35	22	22	21	27	23	25	22	24
Restructuring Charge	15	4.60	15	5.20	1.80	1.70	22	0.00	0.00	4.20	11
Total Other Income / (Expense), net	-17	-20	-17	-19	-16	-15	-17	-17	-18	-19	-19
Interest Expense	18	19	20	19	20	18	19	20	20	19	17
Interest & Investment Income	0.70	0.90	0.80	2.20	1.30	1.30	1.30	1.60	1.50	1.20	1.10
Other Income / (Expense), net	0.50	-1.40	2.00	-2.20	2.40	1.80	0.60	1.40	1.30	-0.70	-3.10
Income Tax Expense	4.30	0.50	-6.60	5.10	9.50	4.40	-4.30	-1.10	9.80	-89	92
Net Income / (Loss) Attributable to Noncontrolling Interest	1.50	0.70	0.20	-0.60	0.90	0.90	1.10	0.70	1.10	1.00	0.90
Basic Earnings per Share	$0.21	$0.01	-	$0.22	$0.45	$0.31	$0.14	($0.02)	$0.49	($0.19)	($0.82)
Weighted Average Basic Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M
Diluted Earnings per Share	$0.21	$0.01	($0.01)	$0.22	$0.45	$0.30	$0.14	($0.02)	$0.49	($0.19)	($0.82)
Weighted Average Diluted Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M
Weighted Average Basic & Diluted Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M

This table details how cash moves in and out of MillerKnoll's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	5/30/2015	5/28/2016	6/3/2017	6/2/2018	6/1/2019	5/30/2020	5/29/2021	5/28/2022	6/3/2023	6/1/2024	5/31/2025
Net Change in Cash & Equivalents	-38	21	11	108	-45	295	-58	-166	-6.80	6.90	-37
Net Cash From Operating Activities	168	210	202	167	216	222	332	-12	163	352	209
Net Cash From Continuing Operating Activities	159	210	202	167	216	222	332	-12	163	352	209
Net Income / (Loss) Continuing Operations	98	138	124	129	161	-14	180	-20	46	85	-33
Consolidated Net Income / (Loss)	98	138	124	129	161	-14	180	-20	46	85	-33
Depreciation Expense	44	47	53	61	66	68	72	112	115	118	103
Amortization Expense	5.60	6.00	6.00	6.00	6.20	11	16	83	44	42	43
Non-Cash Adjustments To Reconcile Net Income	26	7.10	19	2.70	14	194	6.30	54	97	63	181
Changes in Operating Assets and Liabilities, net	-6.50	13	0.00	-32	-30	-38	58	-241	-140	45	-84
Net Cash From Investing Activities	-214	-81	-116	-63	-165	-168	-60	-1,172	-77	-86	-101
Net Cash From Continuing Investing Activities	-214	-81	-116	-63	-165	-168	-60	-1,172	-77	-86	-101
Purchase of Property, Plant & Equipment	-64	-85	-87	-71	-86	-69	-60	-95	-83	-78	-108
Divestitures	0.60	11	0.00	2.10	0.50	0.20	14	2.80	0.30	3.50	6.50
Sale and/or Maturity of Investments	6.20	6.10	0.90	1.00	1.70	5.00	5.30	7.70	0.00	2.80	6.80
Other Investing Activities, net	-2.80	-1.10	-15	5.80	-1.10	13	-14	0.30	6.50	-14	-6.60
Net Cash From Financing Activities	6.80	-107	-75	2.50	-92	244	-348	1,040	-87	-259	-150
Net Cash From Continuing Financing Activities	6.80	-107	-75	2.50	-92	244	-348	1,040	-87	-259	-150
Repayment of Debt	-757	-869	-816	-265	-0.60	262	-317	103	-944	-901	-138
Repurchase of Common Equity	-3.70	-14	-24	-47	-48	-47	-0.90	-16	-16	-138	-85
Payment of Dividends	-33	-35	-39	-43	-56	-36	-35	-61	-62	-58	-56
Issuance of Debt	798	801	795	341	-	50	0.00	1,007	930	833	123
Issuance of Common Equity	7.80	9.20	12	17	12	16	5.00	7.50	5.50	5.90	6.00
Effect of Exchange Rate Changes	1.30	-1.90	0.10	1.40	-4.20	-2.90	18	-22	-6.40	-0.30	5.20
Cash Interest Paid	17	13	13	16	12	11	13	29	71	71	69
Cash Income Taxes Paid	49	58	36	34	41	40	16	37	35	28	51

This table details how cash moves in and out of MillerKnoll's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	12/3/2022	3/4/2023	6/3/2023	9/2/2023	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025
Net Change in Cash & Equivalents	-18	20	6.40	-6.00	8.30	-2.20	6.80	-21	11	-51	24
Net Cash From Operating Activities	60	76	93	131	83	61	78	21	55	62	71
Net Cash From Continuing Operating Activities	60	76	93	131	83	61	78	21	55	62	71
Net Income / (Loss) Continuing Operations	18	1.10	0.10	16	34	23	11	-0.50	35	-12	-56
Consolidated Net Income / (Loss)	18	1.10	0.10	16	34	23	11	-0.50	35	-12	-56
Depreciation Expense	38	38	-0.60	37	37	37	5.90	35	36	34	-2.00
Amortization Expense	1.10	1.20	41	1.20	1.10	1.20	39	1.20	1.10	1.20	39
Non-Cash Adjustments To Reconcile Net Income	20	46	28	12	5.20	5.10	41	9.10	13	144	15
Changes in Operating Assets and Liabilities, net	-17	-11	24	65	4.40	-5.90	-18	-23	-30	-106	76
Net Cash From Investing Activities	-22	-21	-23	-26	-15	-20	-25	-22	-23	-16	-41
Net Cash From Continuing Investing Activities	-22	-21	-23	-26	-15	-20	-25	-22	-23	-16	-41
Purchase of Property, Plant & Equipment	-23	-20	-23	-20	-20	-17	-22	-23	-22	-23	-40
Divestitures	-	-	0.30	-	-	-	-	-	-	-	6.50
Sale and/or Maturity of Investments	-	-	-	0.50	0.50	1.10	-	2.50	0.70	2.50	1.10
Other Investing Activities, net	1.20	-0.90	-0.90	-6.90	1.00	-4.80	-6.20	-2.20	-0.90	-1.00	-2.50
Net Cash From Financing Activities	-65	-34	-65	-111	-60	-42	-46	-20	-14	-94	-23
Net Cash From Continuing Financing Activities	-65	-34	-65	-111	-60	-42	-46	-20	-14	-94	-23
Repayment of Debt	-210	-181	-256	-219	-252	-221	626	-203	-227	-276	569
Repurchase of Common Equity	-	-1.60	-0.10	-32	-28	-41	-37	-44	-23	-18	-0.10
Payment of Dividends	-14	-15	-19	-14	-14	-17	-16	-13	-13	-17	-13
Issuance of Debt	158	161	210	153	233	234	-620	238	249	216	-579
Issuance of Common Equity	0.80	2.00	1.00	0.80	1.10	2.40	1.60	2.30	1.10	1.80	0.80
Effect of Exchange Rate Changes	9.40	-1.20	1.90	0.50	0.50	-0.70	-0.60	0.80	-7.80	-4.10	16

This table presents MillerKnoll's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	5/30/2015	5/28/2016	6/3/2017	6/2/2018	6/1/2019	5/30/2020	5/29/2021	5/28/2022	6/3/2023	6/1/2024	5/31/2025
Total Assets	1,193	1,235	1,306	1,480	1,569	2,054	2,077	4,514	4,275	4,044	3,950
Total Current Assets	464	481	492	645	661	917	907	1,318	1,176	1,070	1,109
Cash & Equivalents	64	85	96	204	159	454	396	230	224	230	194
Accounts Receivable	190	211	187	219	252	200	221	381	364	331	377
Inventories, net	130	128	152	162	184	197	229	587	487	429	448
Prepaid Expenses	33	29	30	41	46	43	45	112	93	67	75
Other Current Assets	-	-	-	-	11	16	7.60	7.30	9.10	14	16
Plant, Property, & Equipment, net	250	280	315	331	349	331	327	582	536	492	496
Total Noncurrent Assets	480	475	500	503	559	806	843	2,615	2,562	2,482	2,345
Goodwill	303	305	305	304	304	346	364	1,226	1,222	1,226	1,152
Intangible Assets	138	136	124	119	119	205	203	863	794	745	680
Other Noncurrent Operating Assets	39	33	72	79	136	255	276	525	547	511	513
Total Liabilities & Shareholders' Equity	1,193	1,235	1,306	1,480	1,569	2,054	2,077	4,514	4,275	4,044	3,950
Total Liabilities	742	684	694	784	830	1,361	1,139	2,980	2,735	2,585	2,615
Total Current Liabilities	363	390	386	414	446	470	477	877	703	698	704
Short-Term Debt	-	-	-	-	3.10	51	2.20	29	33	44	16
Accounts Payable	165	166	148	171	178	129	178	355	270	241	271
Accrued Expenses	100	104	124	129	149	179	118	159	167	141	150
Customer Deposits	32	35	33	28	-	40	43	125	94	100	103
Current Employee Benefit Liabilities	67	85	80	86	86	71	90	129	62	105	93
Other Current Liabilities	-	-	-	-	31	-	45	80	77	67	72
Total Noncurrent Liabilities	379	294	308	370	383	890	663	2,103	2,032	1,887	1,911
Long-Term Debt	290	222	200	275	282	540	275	1,379	1,365	1,292	1,311
Noncurrent Employee Benefit Liabilities	28	26	39	16	25	42	35	25	7.50	10	7.10
Other Noncurrent Operating Liabilities	61	46	70	80	77	308	353	698	659	585	594
Redeemable Noncontrolling Interest	30	27	25	31	21	50	0.00	107	108	74	59
Total Equity & Noncontrolling Interests	420	525	588	665	719	643	861	1,427	1,433	1,385	1,276
Total Preferred & Common Equity	420	524	588	665	719	643	861	1,427	1,433	1,385	1,276
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	420	524	588	665	719	643	861	1,427	1,433	1,385	1,276
Common Stock	147	155	151	128	102	93	107	841	852	739	693
Retained Earnings	330	435	520	598	713	684	819	693	676	738	665
Accumulated Other Comprehensive Income / (Loss)	-56	-65	-82	-61	-94	-134	-65	-107	-95	-93	-82

This table presents MillerKnoll's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	2/26/2022	9/3/2022	12/3/2022	3/4/2023	9/2/2023	12/2/2023	3/2/2024	8/31/2024	11/30/2024	3/1/2025
Total Assets	4,518	4,447	4,448	4,383	4,183	4,156	4,095	4,019	4,036	3,895
Total Current Assets	1,271	1,331	1,310	1,276	1,098	1,114	1,083	1,072	1,126	1,141
Cash & Equivalents	246	216	198	217	218	226	224	210	221	170
Accounts Receivable	356	372	398	390	323	345	319	320	372	346
Inventories, net	521	616	587	540	473	448	437	441	431	426
Prepaid Expenses	140	119	115	121	76	82	90	85	86	184
Other Current Assets	8.60	9.10	12	9.00	7.60	14	14	18	17	15
Plant, Property, & Equipment, net	584	560	555	543	530	518	506	490	484	475
Plant, Property & Equipment, gross	1,489	1,512	1,531	1,549	1,585	1,579	1,584	1,595	1,611	1,603
Accumulated Depreciation	905	952	977	1,006	1,056	1,061	1,078	1,105	1,127	1,127
Total Noncurrent Assets	2,662	2,557	2,584	2,564	2,556	2,523	2,506	2,457	2,426	2,280
Goodwill	1,283	1,198	1,217	1,218	1,224	1,228	1,226	1,234	1,218	1,119
Intangible Assets	882	834	840	820	786	780	770	740	722	671
Other Noncurrent Operating Assets	498	525	526	526	546	516	510	483	486	490
Total Liabilities & Shareholders' Equity	4,518	4,447	4,448	4,383	4,183	4,156	4,095	4,019	4,036	3,895
Total Liabilities	2,994	2,972	2,907	2,842	2,653	2,625	2,597	2,610	2,652	2,573
Total Current Liabilities	834	773	773	733	705	714	681	676	704	683
Short-Term Debt	29	29	29	31	36	39	41	46	49	48
Accounts Payable	341	303	282	283	252	251	242	236	245	238
Accrued Expenses	156	153	180	161	155	160	136	141	159	141
Customer Deposits	127	116	103	97	98	93	86	105	97	96
Current Employee Benefit Liabilities	102	94	101	83	88	96	105	75	84	88
Other Current Liabilities	79	78	79	78	76	76	71	73	71	71
Total Noncurrent Liabilities	2,160	2,199	2,134	2,109	1,949	1,912	1,917	1,934	1,948	1,890
Long-Term Debt	1,385	1,484	1,435	1,415	1,299	1,278	1,290	1,324	1,343	1,283
Noncurrent Employee Benefit Liabilities	38	22	14	15	7.70	7.70	7.40	11	6.90	6.80
Other Noncurrent Operating Liabilities	737	693	686	679	642	626	619	600	598	600
Redeemable Noncontrolling Interest	68	101	107	107	108	110	107	77	73	68
Total Equity & Noncontrolling Interests	1,456	1,375	1,434	1,434	1,422	1,421	1,391	1,333	1,311	1,254
Total Preferred & Common Equity	1,456	1,375	1,434	1,434	1,422	1,421	1,391	1,333	1,311	1,254
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,456	1,375	1,434	1,434	1,422	1,421	1,391	1,333	1,311	1,254
Common Stock	836	834	841	846	827	806	772	707	694	684
Retained Earnings	713	705	707	693	679	699	707	724	745	720
Accumulated Other Comprehensive Income / (Loss)	-93	-165	-113	-106	-84	-84	-89	-99	-128	-150

This table displays calculated financial ratios and metrics derived from MillerKnoll's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	5/30/2015	5/28/2016	6/3/2017	6/2/2018	6/1/2019	5/30/2020	5/29/2021	5/28/2022	6/3/2023	6/1/2024	5/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.83%	5.73%	0.59%	4.52%	7.81%	-3.14%	-0.86%	60.07%	3.58%	-11.22%	1.14%
EBITDA Growth	908.78%	24.68%	-5.56%	-2.16%	13.56%	-85.35%	707.14%	-32.13%	26.93%	16.72%	-40.97%
EBIT Growth	718.70%	30.29%	-9.75%	-7.03%	15.74%	-118.97%	717.22%	-88.50%	344.20%	38.50%	-70.91%
NOPAT Growth	713.03%	33.74%	-10.63%	1.49%	21.24%	-116.36%	790.96%	-84.80%	300.55%	27.74%	-75.20%
Net Income Growth	543.89%	40.16%	-9.75%	3.71%	24.71%	-108.72%	1,387.86%	-110.93%	334.01%	83.51%	-139.24%
EPS Growth	537.84%	39.51%	-9.29%	3.41%	27.36%	-105.56%	2,060.00%	-112.59%	248.65%	101.82%	-148.65%
Operating Cash Flow Growth	86.13%	25.46%	-3.94%	-17.62%	29.97%	2.50%	49.82%	-103.58%	1,468.91%	116.27%	-40.59%
Free Cash Flow Firm Growth	-254.42%	147.10%	-23.13%	-21.05%	-24.20%	-89.60%	2,891.04%	-1,053.55%	105.80%	170.69%	-55.38%
Invested Capital Growth	149.39%	1.51%	3.85%	7.12%	13.06%	-3.86%	-1.60%	234.63%	0.11%	-5.58%	-3.74%
Revenue Q/Q Growth	3.04%	1.43%	-0.24%	1.74%	2.11%	-7.28%	6.28%	13.82%	-3.40%	-1.83%	2.03%
EBITDA Q/Q Growth	40.15%	11.67%	0.16%	-1.65%	10.35%	-86.48%	258.14%	59.89%	-13.64%	4.77%	11.46%
EBIT Q/Q Growth	7.21%	10.52%	-4.22%	-6.19%	11.23%	-116.92%	1,212.02%	250.00%	-25.97%	6.73%	126.61%
NOPAT Q/Q Growth	6.57%	12.48%	-5.40%	-1.54%	7.49%	-114.27%	1,918.08%	741.94%	-2.64%	7.10%	163.02%
Net Income Q/Q Growth	8.04%	13.82%	-5.41%	-1.08%	9.48%	-106.67%	2,246.43%	38.82%	-33.48%	14.79%	-197.65%
EPS Q/Q Growth	6.58%	14.14%	-5.53%	-0.93%	10.20%	-104.23%	2,772.73%	40.32%	-41.49%	15.63%	-228.57%
Operating Cash Flow Q/Q Growth	12.17%	14.47%	-2.18%	-12.69%	16.09%	-20.10%	14.55%	-183.22%	39.95%	-3.85%	-3.46%
Free Cash Flow Firm Q/Q Growth	-256.12%	-3.87%	27.34%	-38.27%	474.52%	-61.30%	-11.73%	-0.48%	193.34%	-0.93%	-2.74%
Invested Capital Q/Q Growth	-5.45%	-2.41%	-6.23%	0.34%	-4.28%	-22.58%	-2.50%	0.76%	-1.96%	-1.61%	-0.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.94%	38.60%	37.93%	36.66%	36.22%	36.64%	38.58%	34.28%	34.99%	39.12%	38.76%
EBITDA Margin	9.89%	11.67%	10.95%	10.25%	10.80%	1.63%	13.29%	5.64%	6.91%	9.08%	5.30%
Operating Margin	7.63%	9.34%	8.39%	7.51%	7.93%	-1.52%	9.43%	1.01%	2.99%	4.61%	1.38%
EBIT Margin	7.57%	9.32%	8.37%	7.44%	7.99%	-1.56%	9.74%	0.70%	3.00%	4.68%	1.35%
Profit (Net Income) Margin	4.58%	6.07%	5.45%	5.40%	6.25%	-0.56%	7.31%	-0.50%	1.13%	2.33%	-0.90%
Tax Burden Percent	67.56%	69.94%	69.88%	76.56%	82.27%	108.53%	78.98%	229.07%	89.69%	84.85%	151.60%
Interest Burden Percent	89.57%	93.09%	93.18%	94.86%	95.12%	33.16%	95.09%	-31.16%	41.93%	58.72%	-44.33%
Effective Tax Rate	32.51%	30.26%	31.02%	25.22%	20.30%	0.00%	21.16%	0.00%	8.75%	14.74%	0.00%
Return on Invested Capital (ROIC)	23.46%	21.81%	18.98%	18.26%	20.09%	-3.16%	22.43%	1.58%	4.11%	5.40%	1.41%
ROIC Less NNEP Spread (ROIC-NNEP)	4.00%	16.10%	12.12%	11.82%	18.20%	6.98%	14.93%	-6.85%	-1.45%	0.32%	-4.72%
Return on Net Nonoperating Assets (RNNOA)	0.61%	5.62%	2.34%	1.42%	2.28%	1.20%	0.77%	-3.23%	-1.11%	0.24%	-3.78%
Return on Equity (ROE)	24.07%	27.43%	21.32%	19.68%	22.37%	-1.95%	23.21%	-1.65%	3.00%	5.64%	-2.38%
Cash Return on Invested Capital (CROIC)	-62.05%	20.32%	15.21%	11.38%	7.83%	0.78%	24.05%	-106.39%	4.00%	11.14%	5.21%
Operating Return on Assets (OROA)	14.82%	17.40%	15.00%	12.72%	13.45%	-2.15%	11.63%	0.84%	2.79%	4.08%	1.24%
Return on Assets (ROA)	8.97%	11.33%	9.77%	9.24%	10.53%	-0.77%	8.73%	-0.60%	1.05%	2.03%	-0.83%
Return on Common Equity (ROCE)	23.16%	25.84%	20.37%	18.85%	21.57%	-1.86%	22.45%	-1.57%	2.79%	5.30%	-2.26%
Return on Equity Simple (ROE_SIMPLE)	23.37%	26.22%	21.12%	19.37%	22.32%	-2.18%	20.95%	-1.38%	3.22%	6.11%	-2.60%
Net Operating Profit after Tax (NOPAT)	110	147	132	134	162	-27	183	28	112	143	35
NOPAT Margin	5.15%	6.51%	5.79%	5.62%	6.32%	-1.07%	7.44%	0.71%	2.73%	3.93%	0.96%
Net Nonoperating Expense Percent (NNEP)	19.46%	5.71%	6.87%	6.44%	1.89%	-10.13%	7.50%	8.43%	5.57%	5.08%	6.13%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	1.36%
Cost of Revenue to Revenue	63.06%	61.40%	62.07%	63.34%	63.78%	63.36%	61.42%	65.72%	65.01%	60.88%	61.24%
SG&A Expenses to Revenue	25.39%	25.86%	25.79%	25.84%	24.90%	25.87%	26.12%	30.52%	27.56%	30.65%	30.89%
R&D to Revenue	3.33%	3.40%	3.21%	3.07%	3.00%	2.98%	2.92%	2.75%	2.59%	2.55%	2.56%
Operating Expenses to Revenue	29.32%	29.26%	29.55%	29.15%	28.30%	38.17%	29.15%	33.27%	32.00%	34.51%	37.39%
Earnings before Interest and Taxes (EBIT)	162	211	191	177	205	-39	240	28	123	170	49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	212	264	250	244	277	41	328	222	282	330	195
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.22	3.02	2.84	2.57	2.58	1.90	3.00	1.52	0.73	1.43	0.90
Price to Tangible Book Value (P/TBV)	0.00	19.05	10.45	7.07	6.27	13.31	8.80	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.63	0.70	0.73	0.72	0.72	0.49	1.05	0.55	0.26	0.54	0.31
Price to Earnings (P/E)	13.86	11.58	13.45	13.31	11.57	0.00	14.79	0.00	24.82	24.01	0.00
Dividend Yield	2.47%	2.23%	2.44%	2.52%	2.50%	3.98%	1.29%	2.62%	5.43%	2.72%	4.45%
Earnings Yield	7.21%	8.64%	7.43%	7.51%	8.64%	0.00%	6.76%	0.00%	4.03%	4.17%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.39	2.55	2.53	2.37	2.33	1.70	3.03	1.27	0.86	1.23	0.95
Enterprise Value to Revenue (EV/Rev)	0.75	0.77	0.78	0.76	0.78	0.56	1.00	0.88	0.57	0.87	0.64
Enterprise Value to EBITDA (EV/EBITDA)	7.56	6.58	7.16	7.37	7.20	34.55	7.49	15.54	8.24	9.57	12.01
Enterprise Value to EBIT (EV/EBIT)	9.89	8.24	9.37	10.15	9.73	0.00	10.23	125.20	18.98	18.58	47.27
Enterprise Value to NOPAT (EV/NOPAT)	14.53	11.79	13.56	13.44	12.30	0.00	13.39	124.03	20.86	22.13	66.06
Enterprise Value to Operating Cash Flow (EV/OCF)	9.56	8.27	8.84	10.80	9.22	6.32	7.39	0.00	14.29	8.95	11.16
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	12.66	16.92	21.57	31.56	213.49	12.49	0.00	21.43	10.73	17.80
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.40	0.33	0.40	0.39	0.85	0.32	0.92	0.91	0.92	0.99
Long-Term Debt to Equity	0.64	0.40	0.33	0.40	0.38	0.78	0.32	0.90	0.89	0.89	0.98
Financial Leverage	0.15	0.35	0.19	0.12	0.13	0.17	0.05	0.47	0.77	0.76	0.80
Leverage Ratio	2.68	2.42	2.18	2.13	2.12	2.53	2.66	2.75	2.86	2.77	2.86
Compound Leverage Factor	2.40	2.25	2.03	2.02	2.02	0.84	2.53	-0.86	1.20	1.63	-1.27
Debt to Total Capital	39.14%	28.68%	24.61%	28.34%	27.81%	46.03%	24.36%	47.87%	47.59%	47.78%	49.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.30%	4.00%	0.19%	1.00%	1.14%	1.56%	0.60%
Long-Term Debt to Total Capital	39.14%	28.68%	24.61%	28.34%	27.51%	42.03%	24.16%	46.87%	46.45%	46.23%	49.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.17%	3.53%	3.05%	3.16%	2.01%	3.92%	0.00%	3.63%	3.66%	2.64%	2.23%
Common Equity to Total Capital	56.69%	67.79%	72.33%	68.49%	70.18%	50.05%	75.64%	48.50%	48.75%	49.57%	47.93%
Debt to EBITDA	1.37	0.84	0.80	1.13	1.03	14.56	0.85	6.33	4.95	4.05	6.82
Net Debt to EBITDA	1.04	0.49	0.38	0.26	0.42	3.21	-0.39	5.30	4.16	3.35	5.82
Long-Term Debt to EBITDA	1.37	0.84	0.80	1.13	1.02	13.30	0.84	6.20	4.84	3.92	6.74
Debt to NOPAT	2.63	1.50	1.52	2.06	1.76	-22.29	1.51	50.56	12.53	9.37	37.53
Net Debt to NOPAT	2.00	0.88	0.72	0.47	0.72	-4.91	-0.69	42.29	10.53	7.75	32.05
Long-Term Debt to NOPAT	2.63	1.50	1.52	2.06	1.74	-20.35	1.50	49.50	12.23	9.06	37.08
Altman Z-Score	3.83	4.37	4.32	4.06	4.21	2.41	3.73	1.66	1.63	1.86	1.59
Noncontrolling Interest Sharing Ratio	3.79%	5.81%	4.48%	4.24%	3.57%	4.95%	3.24%	4.46%	6.98%	6.05%	4.77%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.28	1.23	1.28	1.56	1.48	1.95	1.90	1.50	1.67	1.53	1.58
Quick Ratio	0.71	0.78	0.76	1.04	0.94	1.40	1.31	0.70	0.84	0.80	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-292	137	106	83	63	6.57	197	-1,874	109	294	131
Operating Cash Flow to CapEx	263.68%	247.24%	231.50%	235.84%	252.21%	321.45%	555.69%	-12.57%	195.56%	449.36%	194.52%
Free Cash Flow to Firm to Interest Expense	-16.67	8.92	6.95	6.18	5.22	0.53	14.14	-49.57	1.47	3.86	1.71
Operating Cash Flow to Interest Expense	9.58	13.66	13.30	12.33	17.88	17.74	23.91	-0.31	2.20	4.62	2.73
Operating Cash Flow Less CapEx to Interest Expense	5.95	8.14	7.55	7.10	10.79	12.22	19.60	-2.82	1.08	3.59	1.33
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.96	1.87	1.79	1.71	1.68	1.37	1.19	1.20	0.93	0.87	0.92
Accounts Receivable Turnover	0.00	11.31	11.46	11.73	10.89	11.01	11.72	13.11	10.98	10.46	10.37
Inventory Turnover	0.00	10.79	10.08	9.58	9.45	8.26	7.11	6.36	4.94	4.82	5.13
Fixed Asset Turnover	0.00	8.55	7.66	7.37	7.55	7.32	7.49	8.68	7.31	7.06	7.43
Accounts Payable Turnover	0.00	8.42	9.01	9.43	9.38	10.28	9.86	9.72	8.51	8.65	8.77
Days Sales Outstanding (DSO)	0.00	32.28	31.85	31.11	33.53	33.16	31.14	27.84	33.24	34.91	35.19
Days Inventory Outstanding (DIO)	0.00	33.83	36.22	38.09	38.63	44.19	51.34	57.42	73.81	75.68	71.15
Days Payable Outstanding (DPO)	0.00	43.34	40.53	38.70	38.91	35.51	37.03	37.54	42.90	42.21	41.64
Cash Conversion Cycle (CCC)	0.00	22.77	27.54	30.50	33.25	41.85	45.45	47.72	64.15	68.38	64.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	671	681	707	758	857	824	811	2,712	2,715	2,564	2,468
Invested Capital Turnover	4.56	3.35	3.28	3.25	3.18	2.96	3.02	2.24	1.51	1.37	1.46
Increase / (Decrease) in Invested Capital	402	10	26	50	99	-33	-13	1,902	3.00	-151	-96
Enterprise Value (EV)	1,603	1,740	1,787	1,798	1,995	1,403	2,455	3,455	2,327	3,154	2,335
Market Capitalization	1,351	1,583	1,667	1,705	1,857	1,222	2,582	2,170	1,045	1,976	1,143
Book Value per Share	$7.04	$8.75	$9.83	$11.15	$12.23	$10.94	$14.58	$18.83	$18.94	$19.33	$18.83
Tangible Book Value per Share	($0.35)	$1.39	$2.67	$4.04	$5.04	$1.56	$4.97	($8.74)	($7.71)	($8.18)	($8.22)
Total Capital	741	774	812	970	1,025	1,285	1,138	2,943	2,939	2,794	2,662
Total Debt	290	222	200	275	285	591	277	1,409	1,399	1,335	1,327
Total Long-Term Debt	290	222	200	275	282	540	275	1,379	1,365	1,292	1,311
Net Debt	220	130	95	63	117	130	-127	1,178	1,175	1,105	1,133
Capital Expenditures (CapEx)	64	85	87	71	86	69	60	95	83	78	108
Debt-free, Cash-free Net Working Capital (DFCFNWC)	31	-1.90	1.40	19	50	37	28	240	283	185	227
Debt-free Net Working Capital (DFNWC)	100	91	106	232	218	498	432	470	507	415	421
Net Working Capital (NWC)	100	91	106	232	215	447	430	441	473	372	405
Net Nonoperating Expense (NNE)	12	9.99	7.71	5.08	1.70	-13	3.01	48	65	58	69
Net Nonoperating Obligations (NNO)	220	130	95	63	117	130	-50	1,178	1,175	1,105	1,133
Total Depreciation and Amortization (D&A)	50	53	59	67	72	80	88	195	160	160	145
Debt-free, Cash-free Net Working Capital to Revenue	1.43%	-0.08%	0.06%	0.80%	1.96%	1.50%	1.14%	6.07%	6.93%	5.10%	6.19%
Debt-free Net Working Capital to Revenue	4.67%	4.00%	4.66%	9.73%	8.50%	20.04%	17.53%	11.91%	12.40%	11.45%	11.47%
Net Working Capital to Revenue	4.67%	4.00%	4.66%	9.73%	8.38%	17.97%	17.44%	11.16%	11.58%	10.25%	11.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.64	$2.28	$2.07	$2.15	$2.72	($0.15)	$0.00	($0.37)	$0.56	$1.12	($0.54)
Adjusted Weighted Average Basic Shares Outstanding	59.84M	60.02M	59.85M	59.69M	59.06M	58.87M	0.00	75.84M	75.70M	69.83M	67.81M
Adjusted Diluted Earnings per Share	$1.62	$2.26	$2.05	$2.12	$2.70	($0.15)	$0.00	($0.37)	$0.55	$1.11	($0.54)
Adjusted Weighted Average Diluted Shares Outstanding	59.84M	60.02M	59.85M	59.69M	59.06M	58.87M	0.00	75.84M	75.70M	69.83M	67.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$2.72	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.84M	60.02M	59.85M	59.69M	59.06M	58.87M	0.00	75.84M	75.70M	69.83M	67.81M
Normalized Net Operating Profit after Tax (NOPAT)	119	147	140	138	170	136	185	28	181	183	137
Normalized NOPAT Margin	5.55%	6.51%	6.16%	5.80%	6.63%	5.46%	7.52%	0.71%	4.42%	5.05%	3.73%
Pre Tax Income Margin	6.78%	8.68%	7.80%	7.06%	7.60%	-0.52%	9.26%	-0.22%	1.26%	2.75%	-0.60%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.26	13.71	12.54	13.13	16.95	-3.11	17.27	0.73	1.66	2.23	0.64
NOPAT to Interest Expense	6.30	9.58	8.67	9.91	13.40	-2.12	13.19	0.74	1.51	1.87	0.46
EBIT Less CapEx to Interest Expense	5.63	8.19	6.80	7.90	9.86	-8.63	12.97	-1.78	0.53	1.20	-0.76
NOPAT Less CapEx to Interest Expense	2.67	4.05	2.93	4.68	6.31	-7.64	8.89	-1.77	0.38	0.84	-0.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.95%	25.38%	31.75%	33.72%	34.70%	-260.00%	19.13%	-311.17%	134.49%	69.03%	-168.98%
Augmented Payout Ratio	37.72%	35.64%	50.85%	69.85%	64.55%	-595.00%	19.63%	-393.40%	169.20%	232.39%	-424.70%

This table displays calculated financial ratios and metrics derived from MillerKnoll's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	12/3/2022	3/4/2023	6/3/2023	9/2/2023	12/2/2023	3/2/2024	6/1/2024	8/31/2024	11/30/2024	3/1/2025	5/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	3.96%	-4.35%	-13.07%	-14.93%	-11.00%	-11.41%	-7.09%	-6.12%	2.20%	0.45%	8.20%
EBITDA Growth	34.94%	-16.62%	-45.28%	-15.75%	29.21%	39.86%	27.83%	-31.50%	-0.69%	-157.25%	29.03%
EBIT Growth	468.12%	-32.65%	-75.97%	-23.80%	60.20%	125.25%	78.68%	-56.43%	1.59%	-285.87%	113.58%
NOPAT Growth	614.19%	-38.99%	-72.98%	-26.01%	53.08%	146.67%	376.44%	-65.18%	2.97%	-260.05%	-323.80%
Net Income Growth	2,816.67%	-93.21%	-99.57%	-41.24%	96.57%	2,000.00%	10,900.00%	-103.11%	2.33%	-150.65%	-610.91%
EPS Growth	1,150.00%	-94.74%	-102.63%	-35.29%	114.29%	2,900.00%	1,500.00%	-109.09%	8.89%	-163.33%	-685.71%
Operating Cash Flow Growth	1,108.47%	25,333.33%	101.09%	302.01%	38.66%	-20.08%	-15.24%	-83.88%	-32.97%	2.48%	-9.57%
Free Cash Flow Firm Growth	104.13%	96.57%	100.27%	247.88%	173.86%	416.62%	3,612.63%	-43.00%	-50.54%	-68.00%	-95.15%
Invested Capital Growth	-1.89%	2.88%	0.11%	-4.52%	-6.61%	-5.91%	-5.58%	-2.95%	-2.53%	-4.66%	-3.74%
Revenue Q/Q Growth	-1.10%	-7.70%	-2.84%	-4.08%	3.47%	-8.13%	1.90%	-3.08%	12.64%	-9.71%	9.77%
EBITDA Q/Q Growth	-13.66%	-24.49%	-8.95%	41.93%	32.42%	-18.26%	-16.79%	-23.95%	91.98%	-147.12%	287.55%
EBIT Q/Q Growth	-21.60%	-49.49%	-31.31%	180.15%	64.83%	-28.98%	-45.52%	-31.69%	284.34%	-229.94%	162.61%
NOPAT Q/Q Growth	-24.96%	-52.98%	-44.29%	276.35%	55.26%	-24.23%	7.61%	-72.50%	359.20%	-217.77%	-50.47%
Net Income Q/Q Growth	-36.13%	-93.71%	-90.91%	16,000.00%	113.66%	-32.85%	-52.38%	-104.55%	7,140.00%	-133.24%	-380.34%
EPS Q/Q Growth	-38.24%	-95.24%	-200.00%	2,300.00%	104.55%	-33.33%	-53.33%	-114.29%	2,550.00%	-138.78%	-331.58%
Operating Cash Flow Q/Q Growth	191.82%	27.23%	22.19%	41.51%	-36.97%	-26.67%	29.59%	-73.09%	162.09%	12.12%	14.35%
Free Cash Flow Firm Q/Q Growth	180.74%	-174.06%	108.12%	2,944.13%	49.52%	-14.37%	-4.74%	-53.26%	29.74%	-44.59%	-85.57%
Invested Capital Q/Q Growth	1.23%	-1.34%	-1.96%	-2.49%	-0.99%	-0.60%	-1.61%	0.21%	-0.56%	-2.76%	-0.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.46%	34.08%	37.08%	39.02%	39.18%	38.63%	39.64%	39.04%	38.85%	37.94%	39.19%
EBITDA Margin	7.35%	6.01%	5.63%	8.34%	10.67%	9.49%	7.75%	6.08%	10.37%	-5.41%	9.24%
Operating Margin	3.63%	2.15%	1.21%	4.39%	6.36%	4.91%	2.67%	1.76%	6.44%	-9.38%	5.72%
EBIT Margin	3.67%	2.01%	1.42%	4.15%	6.61%	5.11%	2.73%	1.93%	6.57%	-9.46%	5.40%
Profit (Net Income) Margin	1.64%	0.11%	0.01%	1.75%	3.62%	2.65%	1.24%	-0.06%	3.63%	-1.34%	-5.84%
Tax Burden Percent	81.02%	68.75%	-1.82%	76.30%	77.65%	84.00%	161.76%	29.41%	78.40%	11.61%	-157.42%
Interest Burden Percent	55.10%	8.08%	-40.44%	55.38%	70.54%	61.66%	27.98%	-10.24%	70.38%	121.59%	68.79%
Effective Tax Rate	19.91%	31.25%	0.00%	24.17%	21.44%	16.00%	-63.24%	0.00%	21.83%	0.00%	257.42%
Return on Invested Capital (ROIC)	4.38%	2.29%	1.28%	4.82%	7.01%	5.67%	5.98%	1.69%	6.99%	-9.28%	-13.13%
ROIC Less NNEP Spread (ROIC-NNEP)	3.35%	1.17%	0.60%	3.63%	5.91%	4.57%	3.55%	0.71%	5.78%	-5.24%	-10.42%
Return on Net Nonoperating Assets (RNNOA)	2.89%	0.91%	0.46%	2.91%	4.53%	3.51%	2.70%	0.55%	4.49%	-4.22%	-8.34%
Return on Equity (ROE)	7.27%	3.21%	1.74%	7.74%	11.54%	9.18%	8.68%	2.24%	11.48%	-13.50%	-21.47%
Cash Return on Invested Capital (CROIC)	6.28%	1.36%	4.00%	8.40%	11.08%	11.04%	11.14%	7.84%	7.50%	5.30%	5.21%
Operating Return on Assets (OROA)	3.52%	1.91%	1.32%	3.78%	5.86%	4.46%	2.38%	1.68%	5.77%	-8.52%	4.95%
Return on Assets (ROA)	1.57%	0.11%	0.01%	1.60%	3.21%	2.31%	1.08%	-0.05%	3.18%	-1.20%	-5.37%
Return on Common Equity (ROCE)	6.85%	3.02%	1.61%	7.20%	10.73%	8.54%	8.16%	2.10%	10.76%	-12.66%	-20.45%
Return on Equity Simple (ROE_SIMPLE)	5.88%	4.83%	0.00%	2.45%	3.64%	5.30%	0.00%	5.10%	5.25%	2.71%	0.00%
Net Operating Profit after Tax (NOPAT)	31	15	8.12	31	47	36	39	11	49	-58	-87
NOPAT Margin	2.91%	1.48%	0.85%	3.33%	5.00%	4.12%	4.35%	1.24%	5.03%	-6.57%	-9.00%
Net Nonoperating Expense Percent (NNEP)	1.03%	1.12%	0.68%	1.20%	1.11%	1.10%	2.43%	0.98%	1.21%	-4.04%	-2.72%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	1.73%	1.32%	-	-	1.81%	-2.23%	-3.33%
Cost of Revenue to Revenue	65.55%	65.92%	62.92%	60.98%	60.82%	61.37%	60.36%	60.96%	61.15%	62.06%	60.81%
SG&A Expenses to Revenue	27.26%	26.88%	28.64%	31.66%	30.29%	31.08%	29.58%	34.64%	29.87%	44.29%	16.33%
R&D to Revenue	2.19%	2.40%	3.64%	2.41%	2.34%	2.45%	3.03%	2.63%	2.54%	2.55%	2.52%
Operating Expenses to Revenue	30.83%	31.93%	35.86%	34.63%	32.82%	33.73%	36.98%	37.27%	32.41%	47.32%	33.47%
Earnings before Interest and Taxes (EBIT)	39	20	14	38	63	45	24	17	64	-83	52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	78	59	54	77	101	83	69	52	101	-47	89
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.01	1.27	0.73	1.00	1.34	1.51	1.43	1.54	1.33	1.17	0.90
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.34	0.43	0.26	0.36	0.50	0.57	0.54	0.58	0.48	0.41	0.31
Price to Earnings (P/E)	18.69	28.52	24.82	43.26	37.76	29.02	24.01	31.93	26.75	48.69	0.00
Dividend Yield	3.90%	3.12%	5.43%	3.98%	2.89%	2.60%	2.72%	2.55%	2.98%	3.49%	4.45%
Earnings Yield	5.35%	3.51%	4.03%	2.31%	2.65%	3.45%	4.17%	3.13%	3.74%	2.05%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.01	1.14	0.86	1.00	1.19	1.27	1.23	1.28	1.17	1.09	0.95
Enterprise Value to Revenue (EV/Rev)	0.66	0.75	0.57	0.68	0.82	0.90	0.87	0.92	0.83	0.75	0.64
Enterprise Value to EBITDA (EV/EBITDA)	8.35	9.65	8.24	9.90	10.68	10.53	9.57	10.78	9.79	15.45	12.01
Enterprise Value to EBIT (EV/EBIT)	16.13	19.05	18.98	23.96	23.14	20.82	18.58	22.21	19.98	123.66	47.27
Enterprise Value to NOPAT (EV/NOPAT)	22.79	27.53	20.86	25.93	27.01	24.89	22.13	26.06	23.34	200.57	66.06
Enterprise Value to Operating Cash Flow (EV/OCF)	69.97	27.11	14.29	7.40	8.14	9.04	8.95	13.58	13.86	12.43	11.16
Enterprise Value to Free Cash Flow (EV/FCFF)	15.87	85.23	21.43	11.66	10.34	11.17	10.73	16.10	15.36	19.99	17.80
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.95	0.94	0.91	0.87	0.86	0.89	0.92	0.97	1.01	1.01	0.99
Long-Term Debt to Equity	0.93	0.92	0.89	0.85	0.84	0.86	0.89	0.94	0.97	0.97	0.98
Financial Leverage	0.86	0.78	0.77	0.80	0.77	0.77	0.76	0.78	0.78	0.80	0.80
Leverage Ratio	2.93	2.90	2.86	2.87	2.80	2.79	2.77	2.79	2.81	2.83	2.86
Compound Leverage Factor	1.61	0.23	-1.16	1.59	1.98	1.72	0.78	-0.29	1.98	3.44	1.97
Debt to Total Capital	48.71%	48.42%	47.59%	46.60%	46.26%	47.05%	47.78%	49.29%	50.14%	50.17%	49.84%
Short-Term Debt to Total Capital	0.96%	1.03%	1.14%	1.27%	1.36%	1.45%	1.56%	1.65%	1.75%	1.82%	0.60%
Long-Term Debt to Total Capital	47.76%	47.38%	46.45%	45.33%	44.89%	45.61%	46.23%	47.64%	48.38%	48.35%	49.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.55%	3.57%	3.66%	3.76%	3.85%	3.79%	2.64%	2.76%	2.64%	2.58%	2.23%
Common Equity to Total Capital	47.74%	48.01%	48.75%	49.64%	49.89%	49.16%	49.57%	47.95%	47.22%	47.25%	47.93%
Debt to EBITDA	4.32	4.42	4.95	4.98	4.53	4.23	4.05	4.49	4.57	7.63	6.82
Net Debt to EBITDA	3.74	3.76	4.16	4.17	3.75	3.52	3.35	3.80	3.84	6.66	5.82
Long-Term Debt to EBITDA	4.24	4.33	4.84	4.85	4.39	4.10	3.92	4.34	4.41	7.35	6.74
Debt to NOPAT	11.80	12.62	12.53	13.05	11.45	10.00	9.37	10.84	10.89	99.08	37.53
Net Debt to NOPAT	10.21	10.72	10.53	10.93	9.48	8.32	7.75	9.18	9.16	86.45	32.05
Long-Term Debt to NOPAT	11.57	12.35	12.23	12.70	11.11	9.70	9.06	10.48	10.51	95.48	37.08
Altman Z-Score	1.66	1.73	1.55	1.63	1.75	1.78	1.74	1.75	1.72	1.59	1.59
Noncontrolling Interest Sharing Ratio	5.78%	5.70%	6.98%	6.93%	7.04%	7.04%	6.05%	6.27%	6.28%	6.23%	4.77%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.69	1.74	1.67	1.56	1.56	1.59	1.53	1.59	1.60	1.67	1.58
Quick Ratio	0.77	0.83	0.84	0.77	0.80	0.80	0.80	0.78	0.84	0.76	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	85	-63	5.12	156	233	200	190	89	115	64	9.22
Operating Cash Flow to CapEx	258.70%	372.91%	407.49%	657.79%	412.50%	364.46%	357.99%	93.36%	247.98%	267.24%	179.49%
Free Cash Flow to Firm to Interest Expense	4.65	-3.30	0.26	8.12	11.77	10.85	10.11	4.46	5.65	3.34	0.53
Operating Cash Flow to Interest Expense	3.25	3.96	4.65	6.82	4.17	3.29	4.17	1.06	2.71	3.25	4.10
Operating Cash Flow Less CapEx to Interest Expense	1.99	2.90	3.51	5.78	3.16	2.39	3.01	-0.08	1.62	2.03	1.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.96	0.95	0.93	0.91	0.89	0.87	0.87	0.87	0.88	0.90	0.92
Accounts Receivable Turnover	11.37	11.35	10.98	11.29	10.25	10.44	10.46	11.12	10.03	10.82	10.37
Inventory Turnover	5.26	5.23	4.94	4.61	4.61	4.66	4.82	4.76	4.99	5.10	5.13
Fixed Asset Turnover	7.47	7.51	7.31	7.21	7.10	7.05	7.06	7.00	7.17	7.33	7.43
Accounts Payable Turnover	9.15	8.90	8.51	9.04	8.97	8.67	8.65	8.91	8.84	9.16	8.77
Days Sales Outstanding (DSO)	32.09	32.16	33.24	32.33	35.59	34.98	34.91	32.83	36.38	33.72	35.19
Days Inventory Outstanding (DIO)	69.39	69.79	73.81	79.16	79.11	78.40	75.68	76.68	73.22	71.62	71.15
Days Payable Outstanding (DPO)	39.90	41.03	42.90	40.37	40.68	42.10	42.21	40.96	41.28	39.85	41.64
Cash Conversion Cycle (CCC)	61.58	60.91	64.15	71.12	74.03	71.27	68.38	68.55	68.33	65.50	64.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,807	2,769	2,715	2,648	2,621	2,606	2,564	2,569	2,555	2,484	2,468
Invested Capital Turnover	1.51	1.55	1.51	1.45	1.40	1.38	1.37	1.37	1.39	1.41	1.46
Increase / (Decrease) in Invested Capital	-54	78	3.00	-125	-186	-164	-151	-78	-66	-121	-96
Enterprise Value (EV)	2,827	3,155	2,327	2,653	3,108	3,313	3,154	3,293	2,983	2,696	2,335
Market Capitalization	1,454	1,820	1,045	1,427	1,907	2,098	1,976	2,057	1,739	1,465	1,143
Book Value per Share	$18.98	$18.97	$18.94	$18.79	$19.33	$19.10	$19.33	$19.08	$18.95	$18.40	$18.83
Tangible Book Value per Share	($8.25)	($7.99)	($7.71)	($7.76)	($7.98)	($8.31)	($8.18)	($9.20)	($9.10)	($7.86)	($8.22)
Total Capital	3,005	2,987	2,939	2,865	2,847	2,829	2,794	2,779	2,776	2,654	2,662
Total Debt	1,464	1,446	1,399	1,335	1,317	1,331	1,335	1,370	1,392	1,332	1,327
Total Long-Term Debt	1,435	1,415	1,365	1,299	1,278	1,290	1,292	1,324	1,343	1,283	1,311
Net Debt	1,266	1,229	1,175	1,118	1,091	1,108	1,105	1,160	1,171	1,162	1,133
Capital Expenditures (CapEx)	23	20	23	20	20	17	22	23	22	23	40
Debt-free, Cash-free Net Working Capital (DFCFNWC)	368	357	283	212	214	220	185	232	250	336	227
Debt-free Net Working Capital (DFNWC)	566	574	507	430	439	444	415	442	471	506	421
Net Working Capital (NWC)	537	543	473	393	401	403	372	396	422	458	405
Net Nonoperating Expense (NNE)	13	13	8.02	14	13	13	28	11	14	-46	-30
Net Nonoperating Obligations (NNO)	1,266	1,229	1,175	1,118	1,091	1,108	1,105	1,160	1,171	1,162	1,133
Total Depreciation and Amortization (D&A)	39	39	40	38	39	38	45	36	37	36	37
Debt-free, Cash-free Net Working Capital to Revenue	8.61%	8.43%	6.93%	5.40%	5.61%	5.96%	5.10%	6.50%	6.95%	9.34%	6.19%
Debt-free Net Working Capital to Revenue	13.23%	13.56%	12.40%	10.94%	11.53%	12.01%	11.45%	12.37%	13.10%	14.06%	11.47%
Net Working Capital to Revenue	12.55%	12.83%	11.58%	10.02%	10.52%	10.90%	10.25%	11.09%	11.75%	12.72%	11.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.21	$0.01	$0.00	$0.22	$0.45	$0.31	$0.14	($0.02)	$0.49	($0.19)	($0.82)
Adjusted Weighted Average Basic Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M
Adjusted Diluted Earnings per Share	$0.21	$0.01	($0.01)	$0.22	$0.45	$0.30	$0.14	($0.02)	$0.49	($0.19)	($0.82)
Adjusted Weighted Average Diluted Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	75.59M	75.63M	75.70M	73.48M	72.82M	71.64M	69.83M	69.17M	68.16M	67.75M	67.81M
Normalized Net Operating Profit after Tax (NOPAT)	43	33	18	35	49	37	32	11	49	-55	46
Normalized NOPAT Margin	4.01%	3.30%	1.92%	3.76%	5.15%	4.29%	3.61%	1.24%	5.03%	-6.23%	4.77%
Pre Tax Income Margin	2.02%	0.16%	-0.57%	2.30%	4.67%	3.15%	0.77%	-0.20%	4.63%	-11.50%	3.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.14	1.04	0.68	1.98	3.17	2.42	1.29	0.83	3.13	-4.34	3.00
NOPAT to Interest Expense	1.69	0.76	0.41	1.59	2.40	1.95	2.06	0.53	2.40	-3.01	-5.00
EBIT Less CapEx to Interest Expense	0.89	-0.03	-0.46	0.95	2.16	1.52	0.13	-0.30	2.03	-5.56	0.72
NOPAT Less CapEx to Interest Expense	0.44	-0.30	-0.73	0.56	1.39	1.05	0.89	-0.60	1.30	-4.23	-7.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	76.18%	92.93%	134.49%	178.16%	119.34%	86.97%	69.03%	84.41%	82.12%	167.06%	-168.98%
Augmented Payout Ratio	95.26%	116.16%	169.20%	275.00%	238.68%	224.15%	232.39%	304.85%	293.02%	525.88%	-424.70%

Key Financial Trends

Analyzing MillerKnoll Inc.'s financials over the last several years and their most recent quarterly results reveals a company experiencing varied financial performance, with signs of operational challenges in 2025 but solid cash flow from core operations.

Revenue and Profitability Trends:

Operating revenue has generally grown from around $1.07 billion in Q1 2023 to over $960 million in Q4 2025, showing relative stability in top-line sales despite some quarter-to-quarter fluctuation.
Gross profit margins have hovered around 35-40%, with gross profit roughly stable between $335M and $377M in the latest quarters, indicating consistent product/service profitability.
However, operating income has declined significantly in 2025, with Q3 and Q4 2025 showing negative operating income (-$82M and $55M respectively, with Q4 positive but reduced), compared to positive operating income in previous years, signaling rising operating costs or pricing pressure.
Net income has turned negative in late 2025, with a net loss of $56.2M in Q4 2025, compared to net profits in prior periods, reflecting increased costs and expenses impacting profitability.
Interest expense remains relatively high (around $17-$20M per quarter), which weighs on net income but is consistent across recent years as MillerKnoll manages debt financing.

Expenses and Charges:

Selling, General & Admin expense has increased notably in 2025 quarters, hitting as high as $388M in Q3 2025 and $157M in Q4 2025, which pressures operating income.
Restructuring charges were material in some quarters (e.g., $21M in Q4 2024 and $10.6M in Q4 2025) indicating ongoing internal restructuring efforts which may disrupt operational efficiency.
Impairment charges were seen notably in Q3 2023, adding further to expenses and lowering profitability for that period.

Cash Flow and Liquidity:

Cash flow from continuing operating activities remains strong despite net losses, with Q4 2025 posting $70.9M positive cash flow, showing solid cash generation capability from core business operations.
Capital expenditures remain significant, around $22M to $39M quarterly, reflecting investment in property, plant, and equipment which tightens free cash flow.
Net cash used in financing activities is consistently negative due to repayment of debt and share repurchases, indicating a reduction in liabilities but also cash outflows reducing liquidity.
Net cash changes in cash and equivalents fluctuate but show positive cash growth by $23.9M in Q4 2025, maintaining adequate liquidity.

Balance Sheet Highlights:

Total assets remain stable around $3.8 billion to $4.5 billion, with a large portion in plant, property & equipment net (~$475M to $559M) and goodwill/intangibles (~$1.6 billion combined).
Total liabilities are substantial, exceeding $2.5 billion, driven mainly by long-term debt (~$1.2-$1.4 billion), presenting notable leverage that adds financial risk.
Total equity remains solid and fairly stable at around $1.25 billion to $1.45 billion, offering a reasonable cushion to creditors.

Summary:

MillerKnoll has maintained stable revenue and gross margin levels but faced significant profitability challenges in recent quarters, especially in 2025, impacted by higher SG&A, restructuring costs, and interest expenses. The company's strong operating cash flow is a positive factor supporting continued investment and debt servicing. However, ongoing restructuring expenses and sizeable debt levels warrant caution. Investors should monitor operational improvements and debt management moving forward to assess potential return to profitability.

08/02/25 07:03 AMAI Generated. May Contain Errors.

Frequently Asked Questions About MillerKnoll's Financials

When does MillerKnoll's fiscal year end?

According to the most recent income statement we have on file, MillerKnoll's financial year ends in May. Their financial year 2025 ended on May 31, 2025.

How has MillerKnoll's net income changed over the last 10 years?

MillerKnoll's net income appears to be on a downward trend, with a most recent value of -$33.20 million in 2025, falling from $98.10 million in 2015. The previous period was $84.60 million in 2024. Find out what analysts predict for MillerKnoll in the coming months.

What is MillerKnoll's operating income?

MillerKnoll's total operating income in 2025 was $50.50 million, based on the following breakdown:

Total Gross Profit: $1.42 billion
Total Operating Expenses: $1.37 billion

How has MillerKnoll's revenue changed over the last 10 years?

Over the last 10 years, MillerKnoll's total revenue changed from $2.14 billion in 2015 to $3.67 billion in 2025, a change of 71.3%.

How much debt does MillerKnoll have?

MillerKnoll's total liabilities were at $2.62 billion at the end of 2025, a 1.2% increase from 2024, and a 252.4% increase since 2015.

How much cash does MillerKnoll have?

In the past 10 years, MillerKnoll's cash and equivalents has ranged from $63.70 million in 2015 to $454 million in 2020, and is currently $193.70 million as of their latest financial filing in 2025.

How has MillerKnoll's book value per share changed over the last 10 years?

Over the last 10 years, MillerKnoll's book value per share changed from 7.04 in 2015 to 18.83 in 2025, a change of 167.6%.

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This page (NASDAQ:MLKN) was last updated on 8/2/2025 by MarketBeat.com Staff

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