MillerKnoll Inc (MLKN)
Fixed asset turnover
| Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Mar 4, 2023 | Feb 28, 2023 | Dec 3, 2022 | Nov 30, 2022 | Sep 3, 2022 | Aug 31, 2022 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,597,000 | 3,574,700 | 3,476,600 | 3,544,800 | 3,605,400 | 3,650,000 | 3,695,400 | 7,789,600 | 7,796,800 | 7,863,900 | 7,930,900 | 3,955,600 | 4,065,800 | 4,162,300 | 4,256,400 | 4,308,300 | 4,341,900 | 4,309,300 | 4,249,800 | 4,175,600 |
| Property, plant and equipment | US$ in thousands | — | — | — | — | 506,200 | — | 517,900 | — | 529,900 | 929,100 | 536,300 | 536,300 | 542,700 | 542,700 | 554,600 | 554,600 | 559,500 | 977,600 | 327,200 | 581,500 |
| Fixed asset turnover | — | — | — | — | 7.12 | — | 7.14 | — | 14.71 | 8.46 | 14.79 | 7.38 | 7.49 | 7.67 | 7.67 | 7.77 | 7.76 | 4.41 | 12.99 | 7.18 |
February 28, 2025 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $3,597,000K ÷ $—K
= —
The fixed asset turnover ratio of MillerKnoll Inc has fluctuated over the reported periods, ranging from a low of 4.41 to a high of 14.79. This ratio measures the efficiency of the company in generating sales from its investment in fixed assets.
In May 2022, the fixed asset turnover was 7.18, indicating that for every dollar invested in fixed assets, the company generated $7.18 in sales. The ratio then increased to 12.99 by the end of May 2022, suggesting a significant improvement in asset utilization efficiency.
Subsequently, the ratio fluctuated between 4.41 and 14.71 until November 2023, when data was not available. After this period, the ratio stabilized around 7.00, with occasional fluctuations.
Overall, a higher fixed asset turnover ratio is generally preferred as it reflects better efficiency in asset utilization, indicating that the company is effectively leveraging its fixed assets to generate sales. However, it is essential to consider industry benchmarks and trends over time to assess the company's performance accurately.