MillerKnoll Inc (MLKN)
Inventory turnover
| May 31, 2025 | May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,247,300 | 2,208,900 | 3,941,600 | 2,657,100 | 2,593,300 |
| Inventory | US$ in thousands | — | 428,600 | 487,400 | 487,400 | 587,300 |
| Inventory turnover | — | 5.15 | 8.09 | 5.45 | 4.42 |
May 31, 2025 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $2,247,300K ÷ $—K
= —
The inventory turnover ratio for MillerKnoll Inc. demonstrates fluctuations over the analyzed period, reflecting changes in inventory management efficiency. As of May 31, 2022, the ratio stood at 4.42, indicating the company sold and replaced its inventory approximately 4.4 times during that fiscal year. By May 31, 2023, the ratio increased markedly to 5.45, suggesting improved inventory management and more frequent inventory turnover.
A notable increase occurred shortly thereafter, with the ratio rising sharply to 8.09 on June 3, 2023. This spike could indicate a period of heightened efficiency in inventory utilization or a strategic reduction in inventory levels relative to sales. Subsequently, by May 31, 2024, the ratio slightly declined to 5.15, yet remained higher than the levels observed in 2022 and 2023, implying a slight moderation in turnover but sustained overall improvement from earlier years.
The absence of data for May 31, 2025, precludes further trend analysis for that period. Overall, the observed pattern indicates a trend toward increased inventory turnover starting from 2022 through mid-2023, reflecting potentially more efficient inventory management practices or shifts in product demand. The considerable jump in June 2023 suggests a significant operational change or external factors influencing inventory cycles. The subsequent stabilization at a higher ratio level than in 2022 indicates ongoing efficiency in inventory utilization, but with some variability that warrants continued monitoring.