MillerKnoll Inc (MLKN)
Fixed asset turnover
| May 31, 2025 | May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,669,900 | 3,628,400 | 8,100,200 | 4,087,100 | 3,946,000 |
| Property, plant and equipment | US$ in thousands | — | — | 536,300 | 536,300 | 327,200 |
| Fixed asset turnover | — | — | 15.10 | 7.62 | 12.06 |
May 31, 2025 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,669,900K ÷ $—K
= —
The fixed asset turnover ratios for MillerKnoll Inc over the specified periods reveal notable trends in the company's utilization of its fixed assets to generate sales. As of May 31, 2022, the fixed asset turnover stood at 12.06, indicating a relatively high efficiency in leveraging fixed assets to produce revenue. This ratio declined significantly to 7.62 by May 31, 2023, suggesting a decrease in the efficiency of asset utilization, potentially due to increased asset base without a proportionate increase in sales or a decline in sales relative to fixed assets.
Subsequently, for June 3, 2023, the ratio increased markedly to 15.10, surpassing previous levels and indicating a temporary improvement in asset productivity shortly after the May 2023 measurement. The ratio data for May 31, 2024, and May 31, 2025, are not available, precluding analysis of further trends. Overall, the fluctuations between May 2022 and June 2023 highlight variability in the company's ability to generate sales from its fixed assets, which could be attributed to strategic changes, asset management decisions, or shifts in sales performance.