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Millerknoll, Inc. key statistics and ratios

In fiscal 2026, Millerknoll, Inc. had return on equity of 7.0%, an operating margin of 5.2%, debt equal to 96.4% of equity and a current ratio of 1.58. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2010May 20102011May 20112012Jun 20122013Jun 20132014May 20142015May 20152016May 20162017Jun 20172018Jun 20182019Jun 20192020May 20202021May 20212022May 20222023Jun 20232024Jun 20242025May 20252026May 2026LTMAug 2026
Gross margin32.5%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%
Operating margin4.1%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 margin2.1%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 margin5.8%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%
Return on equity35.3%49.7%33.2%24.0%−6.5%24.9%29.0%22.3%20.5%23.2%−1.3%23.1%−2.4%2.9%5.8%−2.8%7.0%7.3%
Return on assets3.7%9.0%9.1%7.6%−2.3%8.9%11.3%9.8%9.2%10.5%−0.5%8.5%−0.8%1.0%2.0%−0.9%2.3%2.4%
Asset turnover1.712.092.091.991.941.961.871.791.711.681.371.191.200.930.870.920.970.95
Current ratio1.261.771.791.381.271.281.231.281.561.481.951.901.501.671.531.581.581.65
Debt to equity376.0%122.0%100.7%78.2%68.6%69.0%42.3%35.8%43.0%39.6%90.6%32.2%100.1%98.7%97.3%104.8%96.4%96.4%
Interest cover (operating income ÷ interest)2.5x6.2x7.9x6.7xn/m9.3x13.7x12.6x13.3x16.8xn/m16.7x1.1x1.7x2.2x0.7x2.8x2.9x
Effective tax rate18.7%30.9%37.1%29.7%—32.5%30.3%31.0%25.2%20.3%—21.2%—8.8%14.7%—25.3%24.1%
R&D as % of revenue2.5%2.1%2.4%2.7%2.9%2.6%2.8%2.6%2.4%2.3%2.2%2.9%2.8%2.6%2.6%2.6%2.6%2.8%
SG&A as % of revenue24.1%22.2%22.9%24.2%30.0%25.4%25.9%25.8%25.8%24.9%25.9%26.1%30.5%27.6%30.6%30.9%30.7%31.2%
Capital spending as % of revenue1.7%1.8%1.7%2.8%2.2%3.0%3.8%3.8%3.0%3.3%2.8%2.4%2.4%2.0%2.2%2.9%3.2%3.3%
Free cash flow ÷ net income270.0%82.6%81.9%126.5%—106.8%91.7%92.7%74.9%81.4%—156.1%—189.1%332.8%—84.8%118.0%
Dividends ÷ net income17.3%7.1%6.9%28.0%—34.2%25.5%31.8%33.1%28.4%—19.8%—135.6%67.6%—55.8%52.3%
Dividends and buybacks ÷ free cash flow7.5%10.3%12.8%26.3%87.2%35.5%39.1%55.0%92.7%71.6%41.2%13.0%—91.8%70.8%134.3%65.9%44.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Millerknoll, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Millerknoll, Inc.