MillerKnoll Inc (MLKN)
Inventory turnover
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,208,900 | 3,941,600 | 2,657,100 | 2,593,300 | 3,835,100 |
| Inventory | US$ in thousands | 428,600 | 487,400 | 487,400 | 587,300 | 587,300 |
| Inventory turnover | 5.15 | 8.09 | 5.45 | 4.42 | 6.53 |
May 31, 2024 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $2,208,900K ÷ $428,600K
= 5.15
To analyze MillerKnoll Inc's inventory turnover, we will calculate the inventory turnover ratio for each year based on the given data. The inventory turnover ratio is calculated by dividing the cost of goods sold by the average inventory for the period. A higher inventory turnover ratio indicates that the company is selling its inventory more efficiently.
Here are the calculated inventory turnover ratios for each year:
- 2022: 6.53
- 2022: 4.42
- 2023: 5.45
- 2023: 8.09
- 2024: 5.15
The inventory turnover ratios fluctuate over the years, suggesting variations in how effectively MillerKnoll Inc manages its inventory. A high turnover ratio can indicate strong sales and efficient inventory management, while a low ratio may suggest excess inventory or slow-moving products.
Overall, the trend in MillerKnoll Inc's inventory turnover reflects some volatility, with the highest turnover ratio observed in June 3, 2023. Further analysis of the company's operations and market dynamics can provide insights into the reasons behind these fluctuations in inventory turnover.