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Millerknoll, Inc. (MLKN) stock

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NASDAQ: MLKN Nasdaq Office Services & Supplies Next results ~December 16, 2026

C Fundamentals grade

Millerknoll, Inc. is a US-listed company in the office services & supplies industry. Its financial year ends in May.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Millerknoll, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds114 adding, 109 cuttingOf 39 active managers that changed their stake, 20 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Millerknoll files

Where Millerknoll stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $3.81bn, up 1.2% on a year earlier, slower than the 4.7% growth a quarter earlier. Free-cash-flow margin held at 3.0%. Operating margin widened to 5.2% from 2.4%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 7 financial-health checks.

Our model value for Millerknoll is under review, so past values are not shown until it is resolved.

Source: 10-Q filed September 28, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 16, 2026 (estimated)

Millerknoll, Inc.'s trailing-twelve-month revenue grew 1.2% year on year, with a free-cash-flow margin of 3.0%. Where it stands out: stock pay as % of revenue of 0.7% ranks 1 of 6 office services & supplies companies we cover. Where it lags: change in growth rate of -3.5pp ranks 6 of 6 office services & supplies companies we cover.

Our discounted-cash-flow model values the business at ~$21 per share in the base case (~$11–$34 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 49% in the quarter to 2026-08-31, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Millerknoll, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 47% and a beta of 1.1 against the S&P 500.
  • Growth easing. The growth rate is 3.5 points lower than a quarter earlier.
  • Below peers: change in growth rate. Change in growth rate of -3.5pp ranks 6 of 6 office services & supplies companies we cover (median +2.2pp).
  • Below peers: revenue growth. Revenue growth of 1.2% ranks 5 of 6 office services & supplies companies we cover (median 9.8%).

Latest results: FY2027 Q1

Filed September 28, 2026
Earnings per share
$0.53 against an average estimate of $0.35: beat by 49.3%
Revenue
$923m, down 3.4% on a year earlier
Share reaction
-1.4% in the first session after the results on September 22, 2026, against -0.7% for the S&P 500
Guidance given
gross margin % 38.3% to 39.3% (Q2 FY2027); adjusted operating expenses $321m to $331m (Q2 FY2027)
Next report
December 16, 2026; average EPS estimate $0.46

Millerknoll's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.4%
  • 1 week+6.5%
  • 1 month+10.9%
  • This year+26.3%
  • 1 year+49.6%
  • 5 years-34.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.8B
Operating margin
5.2%
Net margin
2.6%
EPS (TTM, diluted)
$1.41

Growth

Revenue growth
+1.2%
Change in growth rate
−3.5 pts
Share count change
+1.2%

Cash

Free cash flow (TTM)
$116M
FCF margin
3.0%
Stock pay % of revenue
0.7%

Earnings

Last results
September 22, 2026
Next results (est.)
December 16, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership
  3. Announcement
  4. Product
  5. Announcement
  6. Leadership
  7. Results
  8. Guidance
  9. Governance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Millerknoll, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 53% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Millerknoll, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.06 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$11 ~$7.4–$14 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$7.1 ~$6.4–$7.9 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Millerknoll, Inc. with Office Services & Supplies in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$24.31$25.65$26.31$29.05$19.13$40.27$26.35$12.71$25.38$16.06$16.05$22.44
Market value$1.5bn$1.6bn$1.6bn$1.7bn$1.1bn$2.4bn$1.9bn$967m$1.9bn$1.1bn$1.1bn$1.6bn
+ Net debt (− = net cash)$137m$114m$82m$126m$137m−$119m$1.2bn$1.2bn$1.1bn$1.1bn$1.1bn$1.1bn
Enterprise value$1.6bn$1.7bn$1.7bn$1.9bn$1.3bn$2.3bn$3.1bn$2.2bn$3.0bn$2.3bn$2.2bn$2.7bn
Multiples
Price / sales 0.6x0.7x0.7x0.7x0.5x1.0x0.5x0.2x0.5x0.3x0.3x0.4x
Price / earnings 10.8x12.5x12.4x10.7x—13.7x—23.0x22.8x—12.2x15.9x
Price / free cash flow 11.7x13.5x16.5x13.2x7.4x8.8x—12.1x6.9x10.9x14.3x13.5x
EV / EBITDA 6.1x6.7x6.8x6.7x30.4x7.1x13.6x7.8x9.3x11.8x6.5x7.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

43 /100

Weak moat

How hard Millerknoll's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.3% of total assets over 10 years.

  • Pricing power 13 / 20

    Gross margin has been a median 37.4%, moving by 1.5 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.7%; its worst year was -0.1%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 9 of 10 years, at a median 4.5% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 13.6% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (48 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 16, 2026, before the open. Analysts expect revenue of $987m and EPS of $0.46 (range $0.44 to $0.46) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.02 +9% $3.9bn +2%
Next $2.27 +13% $4.1bn +4%

Next year's EPS estimate has moved −4.4% in 90 days, across 4 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.35 $0.53 +49.3%
May 2026 $0.52 $0.55 +6.8%
Feb 2026 $0.45 $0.43 −4.4%
Nov 2025 $0.41 $0.43 +5.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 22, 2026
  • Net sales Full Year FY2027 $3.88bn to $4.03bn Lowered
    “Net sales $3.88 billion to $4.03 billion $3.93 billion to $4.13 billion” source
  • Adjusted earnings per share - diluted Full Year FY2027 $1.85 to $2.15 Non-GAAP Maintained
    “Adjusted earnings per share - diluted * $1.85 to $2.15 $1.85 to $2.15” source
  • Adjusted earnings per share - diluted Q2 FY2027 $0.43 to $0.49 Non-GAAP
    “Adjusted earnings per share - diluted * $0.43 to $0.49” source
  • Canada-related tariff costs per share impact next three quarters of fiscal 2027 about $0.07
    “Estimated $0.07 per share unfavorable impact from Canada-related tariff costs over the next three quarters, as well as the $0.11 per share net benefit from tariff refunds in the first quarter” source
  • Gross margin % Q2 FY2027 38.3% to 39.3%
    “Gross margin % 38.3% to 39.3%” source
  • Effective tax rate Full Year FY2027 21% to 23%
    “Effective tax rate of approximately 21.0% to 23.0%” source
Show 6 more items
  • Capital expenditures Full Year FY2027 $125m to $135m
    “Capital expenditures of approximately $125 million to $135 million” source
  • New retail store openings · Global Retail Full Year FY2027 14 to 18
    “Opening 14 to 18 new retail stores, including 5 to 7 new store openings in Q2” source
  • Adjusted operating expenses Q2 FY2027 $321m to $331m Non-GAAP
    “Adjusted operating expenses * $321 million to $331 million” source
  • Interest and other expense, net Q2 FY2027 $15.8m to $16.8m
    “Interest and other expense, net $15.8 million to $16.8 million” source
  • Adjusted effective tax rate Q2 FY2027 21% to 23% Non-GAAP
    “Adjusted effective tax rate * 21% to 23%” source
  • New retail store openings · Global Retail Q2 FY2027 5 to 7
    “Opening 14 to 18 new retail stores, including 5 to 7 new store openings in Q2” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 2026112
  3. Aug 2026112
  4. Jul 2026112

Counts of recommendations published by analysts covering Millerknoll, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.8%
of tradable shares
Days to cover
5.14
at average volume
Short interest, 1 month
−5%
to September 30, 2026
Held by institutions
99%
of shares
Held by insiders
4.7%
of shares
Employees
10,544
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +49.6%

$15.00 on October 31, 2025 to $22.44

ThenNowEffect
Revenue (last 12 months) $3.8bn $3.8bn +1.2%
P/S multiple 0.3x 0.4x +49.6%
Share count 69m 70m −1.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years 0.0%

$22.45 on November 3, 2023 to $22.44

ThenNowEffect
Revenue (last 12 months) $3.9bn $3.8bn −3.0%
Net margin 0.8% 2.6% +205.7%
P/E multiple 51.6x 15.9x −69.1%
Share count 76m 70m +9.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MLKN+18%−45%+32%−13%−16%+26%
Industry peers (median)+7%−30%+25%+26%−14%+21%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MLKN58%33%50%42%42%82%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MLKN−32%−62%−46%−28%−39%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 72% from June 7, 2021 to May 31, 2023. Getting back needed a 258% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$13.33 – $24.29
From 52-week high
−7.6%
vs 50-day average
+5.6%
vs 200-day average
+16.7%
Volatility (1 year)
47%
Beta vs S&P 500
1.12

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±11.6%
After a week
5 up, 7 down
typical move ±11.8%
After a month
4 up, 8 down
typical move ±13.2%
Results releasedNext dayS&P 500 next day5 days21 days
September 22, 2026 −1.4% −0.7% −1.8% −0.5%
June 24, 2026 +20.2% +0.1% +31.9% +37.5%
March 25, 2026 −21.4% −1.2% −24.1% −7.9%
December 17, 2025 +13.4% −0.4% +8.4% +14.0%
September 23, 2025 −14.8% −0.9% −10.9% −14.2%
June 25, 2025 +11.9% +0.8% +18.9% +13.8%
March 26, 2025 +9.1% −1.5% +3.3% −11.7%
December 18, 2024 −9.1% −3.0% −11.3% −12.9%
September 19, 2024 −15.1% +1.5% −10.3% −8.8%
June 26, 2024 +3.0% +0.3% +2.3% +16.4%
March 27, 2024 −17.4% +0.8% −10.3% −14.2%
December 20, 2023 −2.9% −0.5% −7.6% −6.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Millerknoll, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Millerknoll, Inc.
$3.5B $3.6B $3.7B $3.8B $3.9B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $3.8B Revenue (TTM), FY24 Q3: $3.7B Revenue (TTM), FY24 Q4: $3.6B Revenue (TTM), FY25 Q1: $3.6B Revenue (TTM), FY25 Q2: $3.6B Revenue (TTM), FY25 Q3: $3.6B Revenue (TTM), FY25 Q4: $3.7B Revenue (TTM), FY26 Q1: $3.8B Revenue (TTM), FY26 Q2: $3.7B Revenue (TTM), FY26 Q3: $3.8B Revenue (TTM), FY26 Q4: $3.8B Revenue (TTM), FY27 Q1: $3.8B $3.8B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $3.8B
FY24 Q3 $3.7B
FY24 Q4 $3.6B
FY25 Q1 $3.6B
FY25 Q2 $3.6B
FY25 Q3 $3.6B
FY25 Q4 $3.7B
FY26 Q1 $3.8B
FY26 Q2 $3.7B
FY26 Q3 $3.8B
FY26 Q4 $3.8B
FY27 Q1 $3.8B
Revenue growth, TTM YoY Millerknoll, Inc.
-15% -10% -5% 0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -10.9% Revenue growth, TTM YoY, FY24 Q3: -12.6% Revenue growth, TTM YoY, FY24 Q4: -11.2% Revenue growth, TTM YoY, FY25 Q1: -9.0% Revenue growth, TTM YoY, FY25 Q2: -5.7% Revenue growth, TTM YoY, FY25 Q3: -2.7% Revenue growth, TTM YoY, FY25 Q4: 1.1% Revenue growth, TTM YoY, FY26 Q1: 5.4% Revenue growth, TTM YoY, FY26 Q2: 4.3% Revenue growth, TTM YoY, FY26 Q3: 5.6% Revenue growth, TTM YoY, FY26 Q4: 4.7% Revenue growth, TTM YoY, FY27 Q1: 1.2% 1.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -10.9%
FY24 Q3 -12.6%
FY24 Q4 -11.2%
FY25 Q1 -9.0%
FY25 Q2 -5.7%
FY25 Q3 -2.7%
FY25 Q4 1.1%
FY26 Q1 5.4%
FY26 Q2 4.3%
FY26 Q3 5.6%
FY26 Q4 4.7%
FY27 Q1 1.2%
Operating margin (TTM) Millerknoll, Inc.
0% 2% 4% 6% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 3.5% Operating margin (TTM), FY24 Q3: 4.2% Operating margin (TTM), FY24 Q4: 4.6% Operating margin (TTM), FY25 Q1: 4.0% Operating margin (TTM), FY25 Q2: 4.0% Operating margin (TTM), FY25 Q3: 0.5% Operating margin (TTM), FY25 Q4: 1.4% Operating margin (TTM), FY26 Q1: 2.4% Operating margin (TTM), FY26 Q2: 2.0% Operating margin (TTM), FY26 Q3: 5.3% Operating margin (TTM), FY26 Q4: 5.2% Operating margin (TTM), FY27 Q1: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 3.5%
FY24 Q3 4.2%
FY24 Q4 4.6%
FY25 Q1 4.0%
FY25 Q2 4.0%
FY25 Q3 0.5%
FY25 Q4 1.4%
FY26 Q1 2.4%
FY26 Q2 2.0%
FY26 Q3 5.3%
FY26 Q4 5.2%
FY27 Q1 5.2%
FCF margin (TTM) Millerknoll, Inc.
0% 2% 4% 6% 8% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 7.8% FCF margin (TTM), FY24 Q3: 7.8% FCF margin (TTM), FY24 Q4: 7.5% FCF margin (TTM), FY25 Q1: 4.5% FCF margin (TTM), FY25 Q2: 3.7% FCF margin (TTM), FY25 Q3: 3.5% FCF margin (TTM), FY25 Q4: 2.8% FCF margin (TTM), FY26 Q1: 2.2% FCF margin (TTM), FY26 Q2: 2.2% FCF margin (TTM), FY26 Q3: 2.2% FCF margin (TTM), FY26 Q4: 2.0% FCF margin (TTM), FY27 Q1: 3.0% 3.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 7.8%
FY24 Q3 7.8%
FY24 Q4 7.5%
FY25 Q1 4.5%
FY25 Q2 3.7%
FY25 Q3 3.5%
FY25 Q4 2.8%
FY26 Q1 2.2%
FY26 Q2 2.2%
FY26 Q3 2.2%
FY26 Q4 2.0%
FY27 Q1 3.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Millerknoll took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3.8B
  2. Cost of revenue $2.4B · 61.2%
  3. Gross profit $1.5B · 38.8%
  4. Research and development $100M · 2.6%
  5. Selling, general and admin $1.2B · 30.7%
  6. Operating income $198M · 5.2%
  7. Income tax $32.4M · 0.8%
  8. Interest and other $74.4M · 1.9%
  9. Net income $91.5M · 2.4%

Shares of revenue. Source: Millerknoll's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 May 2010 2011 May 2011 2012 Jun 2012 2013 Jun 2013 2014 May 2014 2015 May 2015 2016 May 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 Jun 2023 2024 Jun 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 1,319 1,649 1,724 1,775 1,882 2,142 2,265 2,278 2,381 2,567 2,487 2,465 3,946 4,087 3,628 3,670 3,842 3,809
Gross profit 429 538 591 605 631 791 874 864 873 930 911 951 1,353 1,430 1,420 1,423 1,489 1,506
EBITDA 96 162 175 152 17 213 265 250 246 276 42 320 230 277 322 191 347 344
Operating income 54 123 138 115 −26 163 212 191 179 204 −38 233 40 122 167 51 198 197
Net income 28 71 75 68 −22 98 137 124 128 161 −9 175 −27 42 82 −37 92 98
Diluted EPS $0.43 $1.06 $1.29 $1.16 −$0.37 $1.62 $2.26 $2.05 $2.12 $2.70 −$0.15 $2.94 −$0.37 $0.55 $1.11 −$0.54 $1.32 $1.41
Growth (year on year)
Revenue −19.1% +25.1% +4.5% +2.9% +6.0% +13.8% +5.7% +0.6% +4.5% +7.8% −3.1% −0.9% +60.1% +3.6% −11.2% +1.1% +4.7% +1.2%
EBITDA — +68.8% +7.6% −12.8% −89.0% — +24.1% −5.5% −1.7% +12.1% −84.9% — −27.9% +20.4% +16.2% −40.7% +81.5% +49.5%
Operating income −56.4% +130.0% +11.6% −16.5% −122.4% — +29.4% −9.6% −6.4% +13.8% −118.6% — −82.9% — +36.7% −69.8% — +121.4%
Net income −58.4% +150.2% +6.2% −9.3% −132.4% — +40.2% −9.4% +3.4% +25.3% −105.4% — −115.5% — — −144.8% — —
Diluted EPS −65.6% +146.5% +21.7% −10.1% −131.9% — +39.5% −9.3% +3.4% +27.4% −105.6% — −112.6% — — −148.6% — —
Margins
Gross margin 32.5% 32.6% 34.3% 34.1% 33.5% 36.9% 38.6% 37.9% 36.7% 36.2% 36.6% 38.6% 34.3% 35.0% 39.1% 38.8% 38.8% 39.5%
EBITDA margin 7.3% 9.8% 10.1% 8.6% 0.9% 10.0% 11.7% 11.0% 10.3% 10.7% 1.7% 13.0% 5.8% 6.8% 8.9% 5.2% 9.0% 9.0%
Operating margin 4.1% 7.5% 8.0% 6.5% −1.4% 7.6% 9.3% 8.4% 7.5% 7.9% −1.5% 9.4% 1.0% 3.0% 4.6% 1.4% 5.2% 5.2%
Net margin 2.1% 4.3% 4.4% 3.8% −1.2% 4.6% 6.0% 5.4% 5.4% 6.3% −0.3% 7.1% −0.7% 1.0% 2.3% −1.0% 2.4% 2.6%
Free-cash-flow margin 5.8% 3.5% 3.6% 4.9% 2.6% 4.9% 5.5% 5.0% 4.0% 5.1% 6.1% 11.1% −2.7% 1.9% 7.5% 2.8% 2.0% 3.0%
Cash flow
Cash from operations 99 89 90 137 90 168 210 202 167 216 222 332 −12 163 352 209 200 240
Capital spending 22 31 29 50 41 64 85 87 71 86 69 60 95 83 78 108 122 124
Free cash flow 76 59 62 86 49 104 125 115 96 131 153 273 −107 80 274 102 78 116
Stock-based pay 4 5 6 8 11 10 12 9 8 7 3 9 31 20 21 32 26 25
Free cash flow after stock pay 72 54 56 78 38 94 113 106 88 123 150 264 −138 59 253 70 52 91
Balance sheet
Cash 131 142 172 83 102 64 85 96 204 159 454 396 230 224 230 194 168 179
Total debt 301 250 250 250 250 290 222 210 286 285 591 277 1,428 1,414 1,348 1,337 1,295 1,307
Net debt (negative = net cash) 171 108 78 167 149 226 137 114 82 126 137 −119 1,198 1,191 1,117 1,143 1,127 1,129
Diluted shares 57m 58m 58m 59m 59m 60m 61m 61m 60m 59m 59m 59m 73m 76m 74m 69m 69m 70m
Returned to shareholders
Dividends 5 5 5 19 30 33 35 39 42 46 36 35 55 57 56 52 51 51
Buybacks 1 1 3 4 13 4 14 24 47 48 27 1 16 16 138 85 — —
Total returned 6 6 8 23 43 37 49 63 89 94 63 35 71 73 194 137 51 51

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 7 checks passed · August 29, 2026
What it owns · $4.0bn
Short-term assets $1.1bnLonger-term assets $2.9bn
What it owes, and who funded it · $3.9bn
Short-term liabilities $692mLonger-term liabilities $1.9bnShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $1.1bn of assets due within a year against $692m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.1bn short-term assets against $1.9bn of longer-dated liabilities.
  • More cash than debt $179m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 96% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 94% to 96% over five years.
  • A year's operating cash flow covers at least 20% of debt $240m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $197m against $68m of interest.

From Millerknoll, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$51.2M
Diluted share count
+1.2%
year over year
Total shareholder yield
3.3%
dividends 3.3% + buybacks 0.0% of market value
Dividend payout ratio
52%
of net income paid out
R&D spending
2.8%
of revenue
Sales & admin spending
31.2%
of revenue
Days sales outstanding
30 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in office services & supplies
Last 12 months unless stated MLKN HNI PBI BRC ACCO EHGO Median
Revenue, last 12 months $3.8bn $4.4bn $1.9bn $1.7bn $1.6bn $16m $1.8bn
Revenue growth, last 12 months 1.2% 70.1% −3.5% 9.8% 1.5% 21.1% 5.7%
Revenue growth, 3-year average −1.0% 25.7% 9.8% 7.7% −5.3% — 7.7%
Revenue growth, latest quarter −3.4% 120.7% −0.8% 10.0% −0.9% — −0.8%
Gross margin 39.5% 41.0% 52.4% 51.7% 33.2% 15.1% 40.2%
Operating margin 5.2% 2.0% — 15.9% 5.8% −73.5% 5.2%
Operating margin, 3-year average 3.8% 5.7% — 16.5% 1.4% — 4.7%
Net margin 2.6% 0.1% 10.1% 12.4% 4.2% −69.4% 3.4%
Cash from operations / revenue 6.3% 4.6% 30.6% 14.7% 8.3% −34.8% 7.3%
Free-cash-flow margin 3.0% 0.1% 27.1% 11.6% 7.0% −35.6% 5.0%
Free-cash-flow margin, 3-year average 3.2% 4.9% 14.8% 11.6% 6.1% — 6.1%
Stock pay / revenue 0.7% 1.0% 0.9% 1.4% 0.8% 9.2% 0.9%
Change in share count 1.2% 26.7% −19.2% −0.7% 3.0% 52.0% 2.1%

Median of all 6 companies we cover in office services & supplies. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

6 office services & supplies companies
Measure Company Peer median Rank
Revenue growth Growth 1.2% 9.8% 5 of 6
Change in growth rate Growth -3.5pp +2.2pp 6 of 6
Gross margin Profitability 39.5% 39.5% 3 of 5
Operating margin Profitability 5.2% 5.2% 3 of 5
Net margin Profitability 2.6% 4.2% 4 of 6
Free-cash-flow margin Cash generation 3.0% 7.0% 4 of 6
Stock pay as % of revenue Cash generation 0.7% 1.0% 1 of 6
Long-term debt as % of assets Balance sheet 31.7% 31.7% 4 of 6
Change in share count Balance sheet 1.2% 3.0% 3 of 6

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to May 30, 2026
Products and services
Line of business Revenue Share YoY
Workplace $1.5B 39.3% ▲ 5.7%
Lifestyle $1.3B 32.9% ▲ 4.1%
Performance Seating $849M 22.1% ▲ 4.7%
Other Products $219M 5.7% ▲ 0.9%
Geography
Region Revenue Share YoY
United States $2.8B 71.6% ▲ 5.5%
Outside the US $1.1B 28.4% ▲ 2.7%

From Millerknoll, Inc.'s 10-K filed July 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.4B
Institutions reporting
240
Shares held vs prior quarter
▼ 0.5%
Positions opened / closed
33 / 23

Top buyers and sellers, Q2 2026: 114 institutions bought and 109 sold ; the biggest buyer was Pzena Investment Management LLC (+1.0M shares) and the biggest seller FMR LLC (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $213M 10.4M 15.7% ▼ 1.3%
Vanguard Portfolio Management LLC $106M 5.2M 7.8% ▲ 2.0%
Dimensional Fund Advisors LP $73.2M 3.6M 5.4% ▼ 0.9%
Vanguard Capital Management LLC $62.8M 3.1M 4.6% ▼ 0.3%
Pzena Investment Management LLC $62M 3.0M 4.6% ▲ 52.0%
Fuller & Thaler Asset Management, Inc. $58.5M 2.9M 4.3% ▼ 3.9%
State Street Corp $57.2M 2.8M 4.2% ▼ 2.1%
Deprince Race & Zollo Inc $54M 2.6M 4.0% ▲ 6.5%
FMR LLC $42.8M 2.1M 3.2% ▼ 42.5%
Invesco Ltd. $40.1M 2.0M 3.0% ▲ 7.7%
Geode Capital Management, LLC $36.8M 1.8M 2.7% ▲ 4.9%
Forager Capital Management, LLC $32M 1.6M 2.4% ▲ 6.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Millerknoll, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 1 trade and filings

No trades in Millerknoll, Inc. disclosed in the last 12 months; 1 earlier trade on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded April 10, 2023, filed May 19, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 16, 2026 estimated from the company's past filing pattern, not announced

  • September 22, 2026
  • June 24, 2026
  • March 25, 2026
  • December 17, 2025
  • September 23, 2025
  • June 25, 2025

Recent SEC filings

Data status

When each part of this page on Millerknoll, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Millerknoll, Inc. in brief

What does Millerknoll, Inc. do?
Millerknoll, Inc. is a US-listed company in the office services & supplies industry. Its financial year ends in May.
What is Millerknoll, Inc.'s stock ticker?
Millerknoll, Inc. trades under the ticker MLKN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Millerknoll, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Millerknoll, Inc. reported revenue of $3.8B, 1.2% higher than a year earlier, according to its SEC filings.
What is Millerknoll, Inc.'s free cash flow?
Millerknoll, Inc.'s free-cash-flow margin is 3.0% of revenue over the trailing twelve months, ranking 4 of the 6 office services & supplies companies we cover.
Who are Millerknoll, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Millerknoll, Inc.'s market cap?
On November 2, 2026, Millerknoll, Inc.'s market capitalisation was about $1.6B, with a price-to-earnings ratio of 15.9 and net debt of $1.1B. Market figures come from third-party market data and may be delayed.
Does Millerknoll, Inc. pay a dividend?
Yes: Millerknoll, Inc. paid $51.2M in dividends over the trailing twelve months, a dividend yield of 3.32% and a payout ratio of 52.3%.
How much debt does Millerknoll, Inc. have?
Millerknoll, Inc.'s debt-to-equity ratio is 95.8%, from its latest balance sheet (94.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Millerknoll, Inc.'s competitors?
In our Office Services & Supplies peer group, the companies closest to Millerknoll, Inc. are HNI Corp, Pitney Bowes Inc, Brady Corp, Acco Brands Corp and Eshallgo Inc. The side-by-side comparison below sets their revenue, margins and growth against Millerknoll, Inc.'s.
When is Millerknoll, Inc.'s next earnings date?
Around December 16, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Millerknoll, Inc. announces its own schedule.