MillerKnoll Inc (MLKN)
Fixed asset turnover
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,628,400 | 8,100,200 | 4,087,100 | 3,946,000 | 7,841,800 |
| Property, plant and equipment | US$ in thousands | — | 536,300 | 536,300 | 327,200 | 581,500 |
| Fixed asset turnover | — | 15.10 | 7.62 | 12.06 | 13.49 |
May 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $3,628,400K ÷ $—K
= —
The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. Looking at the data provided for MillerKnoll Inc:
- As of May 28, 2022, the fixed asset turnover was 13.49, indicating that for every dollar invested in fixed assets, the company generated $13.49 in revenue. This high ratio suggests efficient utilization of fixed assets to generate sales.
- By May 31, 2022, the fixed asset turnover decreased to 12.06. While slightly lower than the previous period, it still reflects a strong efficiency in generating revenue from fixed assets.
- The ratio declined further to 7.62 by May 31, 2023. This decrease may imply that the company's revenue generation from fixed assets decreased, possibly due to changes in operations or asset utilization.
- However, the fixed asset turnover significantly improved to 15.10 by June 3, 2023, suggesting a positive turnaround in efficiently utilizing fixed assets to generate revenue.
- Unfortunately, there is no data provided for May 31, 2024, which makes it challenging to assess the company's performance for that period.
In conclusion, MillerKnoll Inc's fixed asset turnover ratio has shown fluctuations over the periods provided. While the company demonstrated strong efficiency in utilizing fixed assets to generate revenue in some periods, there were fluctuations that may require further analysis to understand the underlying reasons.